Monday, November 02, 2020

Lincoln Square area small multi-unit sales (two to four units), prices strong


Lincoln Square multi-units this fall. All photos Eric Rojas, Broker, Kale Realty. 

Despite the pandemic fueled worries about tenant ability to pay their rent small multi-unit market has been strong around Lincoln Square. Buildings in my opinion have been selling at market prices I'd expect in a normal market this year.  That has played out in the year to year numbers.  Over the last three months median price in this category is up $25K over the same period in 2019. 

In the last three months 18 two to four flat buildings have closed in Lincoln Square Community Area with a median sold price of $625,000.  Over the same period of 2019, 23 buildings closed with a median price about $600,000.

-The highest price sale is a three-flat at 4426 N Maplewood, Chicago IL 60625 that sold for $820,000.

-14 two-four flats are currently under contract with a median asking price about $600,000. 

-Meanwhile 22 two to four unit buildings are available for sale in the Lincoln Square Community Area.  With low interest rates buying as a "live-in" owner operator is a great way to get your own property with a yard, basement and garage in a desirable neighborhood! 

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