Friday, April 10, 2020

Q1 Near North condo sales consistent over five years

SoNo condos on the left.  The popular Near North luxury towers bordering Lincoln Park and Old Town feature a condo tower and separate rental apartment building with 24/7 amenities for residents.  The surrounding area has countless dining, fitness, shopping and entertainment opportunities. All photos Eric Rojas, Broker, Kale Realty.
Before the COVID crash I started the year spending some time in the Near North Side Community Area (with highly desirable Old Town, Gold Coast, River North, Streeterville neighborhoods). Let's take a look at greater Near North condo sales.

30 West Oak in Gold Coast of the Near North Side Community Area. The desirable luxury condo building known for large units was built in 2006-2007.

Near North attached sales (condo, townhouse) Jan 1st to March 31st

456 attached units sold in 1st quarter of 2020 with a median price of about $400,000.  The highest  priced sale in Q1 is 451 East Grand Unit 6311, Chicago IL 60611 for  $6,250,000 .  The lowest priced condo sold is 233 East Erie Street, Unit 1205, Chicago IL 60611 for $120,000. The one bed, one bath unit was a foreclosure sale.

In 2019 Q1 430 units sold with a median price of about $370,000.
2018, 543 units closed over Q1 with a median price of $415,000
Looking back at 2015, 488 units closed with a median price of  $390,000.

Gold Coast modern town homes at 1009 North Dearborn
Unit sales and median price have been consistent Q1 over the past five years with very similar numbers in 2015 and 2020. 

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