|4918 North Lincoln Avenue, Chicago IL 60625 and two adjacent one story commercial properties were torn down this weekend. The sellers cashed out for $1,360,000.|
A luxury homebuilder in Lincoln Square is taking their game to condos. Owners of the former Korean BBQ building at 4918 N Lincoln Avenue cashed out selling to Landrosh Development for $1,360,000. The sellers bought the exisiting property in the year 2000 for $480,000. The three lot property received a zoning change to build a five story 14 unit residential condo building with live work space, commercial retail and 14 on-site parking spaces. I expect a high finish level from a builder who regualry gets top dollar prices for their speculation single family homes.
|An eight unit newer construction building typical to this strip of Lincoln Square sits adjacent to the south. I expect a little more flare for the new 14 unit building.|
|The Cardinal liquor store and bar (PATIO OPEN!) is conveniently located across the street. We here at The Chicago Real Estate Local love The Cardinal... seriously. |
|New retail housing a Kiddie Academy and Tropical Smoothie Cafe was recently built just a half block south.|
4900-5200 North Lincoln Avenue Condo Sales
The medain price of a closed condo from 4900 North Lincoln Avenue to 5200 North Lincoln Avenue over the past 24 months is about $535,000. Many of the newly built units are three bedrooms and two baths. I have a feeling the highest priced unit in the new 14 unit building will push $1,000,000.