Wednesday, June 24, 2020

La Grange home sales catching up to last year

La Grange homes earlier this month on South Catherine near the desirable downtown shopping and restaurant district (all photos Eric Rojas, Broker, Kale Realty).

Hello! I have not been posting much nor have I been very active on social media during the last few months.  As you can imagine... there's been stuff to deal with! Luckily our family, friends and neighborhood business folks have been doing relatively well.  I've been in charge of our four kids throughout the pandemic while my wife handled urgent work as a nursing director.  Despite the pandemic conditions our real estate business has not slowed down. We've been helping clients make educated choices in the city and suburbs while the world seemed to go sideways.

Lately we've been in the Western Suburbs. La Grange, Western Springs, Hinsdale and nearby towns like Countryside have been popular with our clients that decide to decamp from city life.  The number one question we get is "How is the market doing?".  La Grange has been relatively steady in the face of the pandemic market.

La Grange Single Family Home Sales

73 single family homes have sold thus far (January 1st to June 19th) with a median price of $525,000.  96 homes sold over the same period with a median price about $545,000.  Considering the extreme conditions these numbers are barely off last year.  I can say anecdotally we have seen an increased number of listings hitting the market and selling since late May.  I think the overall sales and prices for 2020 will end up very close to last year. All stats pulled and analyzed from

A vintage home with an updated kitchen near the La Grange downtown.
The highest priced La Grange single family home to sell this year is 120 South Kensington, La Grange, IL 60525 for $1,087,000. The downtown high-end 1999 build is elegant as well as spacious. The lowest priced sale is 211 Hayes Avenue, La Grange, IL 60525 for only $107,000. The foreclosure sale adjacent to the freight train tracks was bought cash. I'd guess this would be an investor purchase for value add and rental.

Wednesday, June 10, 2020

Plywood and condo sales along Halsted Street, Lincoln Park

Many small independent businesses along the 2100 block of North Halsted were still boarded up on Monday.  The absence of foot traffic mid-day and the plywood covered windows was off putting. I look forward to our vibrant city coming back better after the pandemic and social unrest.
We had condo showings along North Halsted Street in Lincoln Park on Monday. Halsted Street runs directly down the middle of the neighborhood splitting it into east and west sections.  Like many areas of the city these past few months it feels different. Despite the plywood to prevent potential vandalism and the sparse foot traffic... condo sales must go on. Here's a look at the market along Halsted Street in the heart of Lincoln Park.

North Halsted Street, Lincoln Park Condo Sales (West North Avenue to West Diversey Parkway)
Chez Moi at 2100 N Halsted in a classic Lincoln Park four unit mixed use building. My wife and I would visit the old Café Bernard and Red Rooster Wine Bar in the space. The bustle, charm, food and services of Halsted Street all contribute to the real estate value.
52 attached units (condos, town homes) sold on North Halsted Street in Lincoln Park over the last twelve months. The median price of a sold condo along this strip is about $562,500. The highest closed condo price is $2,165,000 at 1851 N Halsted Street, Unit 2, Chicago, IL 60614. The recent new construction full floor unit is marketed at 4,000 sq/ft and resides in Oscar Mayer Elementary School district.

The lowest priced sale is $200,000 at 2225 N Halsted Street, Unit 27, Chicago IL 60614.

Four units are currently under contract with asking prices from $625,000 to $1,250,000. Thirteen condos are currently listed for sale along the Halsted strip with asking prices from $255,000 to $1,650,000.

Friday, June 05, 2020

"Blue collar" Gold Coast corner demolished, apartments coming to State and Divison

The corner at 1200 N State Street and several other addresses in Gold Coast under re-development. The new development address would be 1212 N State and feature around 90 apartments. 
A rather pedestrian corner in high-end Gold Coast is being developed. It seems like a lifetime ago we captured a few photos of demolition in progress at State and Division. Many bars and shops have graced the corner. A Chase Bank branch too.  Here's a great post about what was there. I hope to pass by there again soon and check on the progress. According to reports the corner properties were purchased for $20 million.
I may have wandered in and out of the pubs along this stretch of State Street in simpler times.
Looking eastward on West Division Street.

A rendering of what is to come and construction updates at the 2nd Ward web site.  

Wednesday, June 03, 2020

Home sales in Oak Park's Washington Irving school district (sales and prices steady)

Beautiful "Four Squares" with typical mature landscaping in Oak Park taken over the weekend. 
We are working with clients who will list their home for sale in Oak Park's Washington Irving Elementary School district. Despite the coronavirus pandemic unit sales and median price have been steady year to year.

Twenty-two single family homes have sold this year (January 1st to May 31st). The median price of a sold home is about $375,000. The highest priced sold house is 1114 S Scoville sold for $868,000. The new construction five bedrooms home sits on a 33'x126' lot.  1175 S Harvey is the lowest priced sold house at $190,000... quite the bargain!

Sales activity and median price have held up year to year. In 2019 twenty-six  homes closed over the same period with a median price of about $375,000 as well.

Two of many, many frame cottages just south of West Madison in Oak Park

Irving School District Single Family Home Sales January 1st to May 31st
(2020) 22 houses sold, median price $375,000
(2019) 26 houses sold, median price $375,000
(2018) 26 houses sold, median price $355,000
(2017) 19 homes sold, median price $335,000
(2016) 17 homes sold, median price $335,000