Eric Rojas, Chicago Real Estate Broker

Promote Your Page Too

Sunday, June 26, 2022

Wilmette single family home sales - High end market takes off

 

Our clients are looking to move from Chicago to Wilmette for a larger yard. All photos Eric Rojas, Broker, Kale Realty.  

We've been hot on the trail of Wilmette single family homes priced in the $900,000 to $1.2M range this year. Despite acting quickly and aggressively each purchase offer we've made has resulted in a multiple offer situation. We suffered a loss just last weekend. Rising interest rates have not seemed to affect demand in this price-point...yet. 

Let's take a look at recent Wilmette single family home sales. 

Wilmette Single Family Home Sales January 1st to June 25th (year over year)

$2,000,000 is a mere drop in the bucket for Wilmette lakefront homes. All photos Eric Rojas, Broker, Kale Realty.

162 single family homes have sold in Wilmette from January 1st to June 25th of 2022.  The median price of a sold home is $900,000. Thirteen homes sold for over $2M. That's only two less than the past five years combined (same period year over year).

The highest priced sold home sold this year is 1330 Chestnut Avenue, Wilmette IL 60091 for $4,950,000.
The lowest priced sold home this year is 535 Leclaire Avenue, Wilmette IL 60091 for $292,600.

How do the 2022 first-half sales stack up against the pre-pandemic market? 

In 2017, 195 homes sold with a median price of  $710,000. One home sold over $2M.
In 2018, 209 homes sold with a median price of about $815,000.  Seven homes sold over $2M.
In 2019, 186 homes sold with a median price of $619,000. Interestingly no homes sold over $2M

The pandemic hit in the middle of spring market 2020. 
Over January 1st to June 25th of 2020 only 140 homes sold with a median price of $720,000.  Three homes sold over $2M. Over the same period of 2021... when the real estate sales phenomenon really hit...  a robust 227 homes sold with a median price of  about $865,000. Four homes sold over $2M. 





Friday, June 24, 2022

Under Contract! Lincoln Square condo on convenient North Damen Avenue

 

The condo building at 4856 N Damen, Chicago IL 60625 in the Lincoln Square/ Ravenswood neighborhood.

We recently helped our awesome clients secure a two beds, two baths condo with garage parking along the North Damen Avenue commercial district of Lincoln Square. 4856 N Damen Avenue #2 is asking $429,900. We once again faced a multiple offer situation in this tight market. Our clients made a swift, strong and professional offer. After some negotiations the sellers accepted our offer and were now cruising to the closing.

The 4800 to 5000 blocks of North Damen Ave feature newer construction condo buildings and convenient shops, cafes and restaurants. The Damen Brown Line is two block away. 
 

The Damen corridor is popular among condo buyers (condo/ attached units/ townhomes). The median price of a condo sale along the 4600-5200 Blocks of North Damen in Lincoln Square is a hefty $485,000 over the past 12 months.  The highest priced condo sale is 4854 N Damen Unit 3 for $881,950.  The three bedrooms new construction penthouse features a walk-out roof-top deck.

The lowest priced condo sold over the last 12 months is 4737 N Damen, Unit 2F for $317,500. 

Monday, June 06, 2022

Andersonville condo sales steady year over year (new duplex-down listing coming soon!)

 

We'll be listing a three bedrooms duplex-down condo at 5135 N Ashland later this week. The great looking home is located just steps from popular Andersonville restaurants, shops, bars, services and awesome street fests! 

Here's a look at Andersonville condo sales (attached units, townhouses) so far in 2022.

5135 N Ashland is located just around the corner from iconic Andersonville businesses like Hopleaf and Simon's as well as the Swedish American Museum

For Andersonville sales comparison purposes I use the area from North Broadway to North Ravenswood and West Argyle to West Bryn Mawr. The area is is in close proximity to the attractive North Clark Street retail district.

Andersonville condo sales

72 condos sold in the greater Andersonville sales area above from January 1st to June 3rd, 2022. The median sales price of a condo in this area is about $365,000 this year.  The highest price for a sold condo is $895,000 at 1721 W Berwyn #3, Chicago IL 60640 . The four bedrooms, two and one-half unit featured a huge walk-out roof deck and garage parking.

19 three bedrooms condos sold with a median price of about $620,000. 

37 two bedrooms condos sold with a median price of about $355,000

15 one bedroom condos sold with a median price of  about $210,000. 

Same period (year over year) condo sales January 1st to June 3rd

2022, 72 condos sold with a median price of about $365,000

2021, 77 condos sold over the same period with a median price of about $365,000

2020, 50 condos sold with a median price of  $351,000

2019, 64 condos sold with a median price of about $355,000

2018, 57 condos sold with a median price of about $310,000

All statistics pulled from MREDLLC.com 
All listings mentioned here are exclusively listed by 
Eric Rojas, Broker, Kale Realty
2447 N Ashland, Chicago IL 60614
312-939-5253

Wednesday, April 27, 2022

New for sale! Bucktown three bedrooms condo with huge private deck, two car parking $539,999

1653 W Cortland #2 features a spacious living room leading to 200 sq/ft walk-out private deck.

 
Check out our new Bucktown listing at 1653 West Cortland #2, Chicago IL 60622. Asking $539,999.  The three bedrooms, two baths home features a huge walk-out deck and two car (tandem) parking.  

Exclusively listed by Eric Rojas, Broker - Kale Realty
2447 N Ashland Chicago IL 60614 - erojas@kalerealty.com




Check out the 3D tour link for walk-through! BUCKTOWN 3 beds condo with fantastic walk-out deck and two car parking (tandem). Spacious and open living/ dining area, gas fireplace. Living room opens to huge almost 200 sq/ft private south facing deck for amazing indoor/ outdoor living. Large kitchen area with new range, new counter tops, backsplash and renovated island all in 2022. New refrigerator 2020. 
Love, love, love this open airy kitchen and dining areas!




Primary suite with Juliet balcony, WIC, ensuite bathroom in marble tile, dual sinks, dual shower heads, and body massage sprays. 





In-unit laundry w/large capacity w/d. Large 6'x10' exterior storage closet in basement. Freshly painted, new outlets, light fixtures, dimmers (2022), building roof maintenance (2020), rear metal stairwell painting and new landings (2020), NEW AC unit (2020), building sealing (2022). One block from the 606 Trail & Walsh Park, 2 blocks to Armitage Metra (new station renovations!) and the new Lincoln Yards development! Unique and charming block close to Blue Line and all Bucktown has to offer. 
-Property tax successful appeal, tax savings of $2,900 per tax year 2021-2023. 
-Monthly assessment $225.00. 
-Self managed building. 
-2 pets okay, no weight limit.
-Rentals allowed, minimum 6 month lease. 
-Boutique four unit building, 100% owner occupied. 

Charming block with local shops, restaurants and bars steps away.


Wednesday, March 30, 2022

Super tight Ravenswood Gardens / Ravenswood Manor home sales market

Ravenswood Gardens and Ravenswood Manor neighborhoods are popular for their vintage custom homes and leafy riverside location close to CTA Brown Line transportation. 

Our clients are prepping their home for sale in the Ravenswood Manor neighborhood of the Albany Park Community Area.  The greater area of Ravenswood Gardens (east of the river) / Ravenswood Manor (west of the river) is known for it's custom over-sized bungalows, Craftsmans and stately stuccos. Let us not forget the riverside views, local businesses and great schools.

Ravenswood Gardens / Ravenswood Manor sales area. 

So far in 2022 only five homes have sold in the Ravenswood Gardens / Ravenswood Manor neighborhoods.  About 45 Ravenswood Gardens/ Ravenswood Manor single family homes sold over the past twelve months. The median price of a home sale during that time is about $815,000.  

Currently there are only two homes actively for sale in the above pictured area, both listed at over $1.6M.  Only two homes are currently under contract. Active listings, contracts and sold units reflect incredibly low inventory for this spring market!

Recent home sales:
2021: 44 single family homes sold with a median price of about $800,000
2020: 38 single family homes sold with a median price of about $650,000
2019: 39 single family homes sold for a median price of $650,000
2018: 34 single family homes sold for a median price of about $790,000
2017: 34 single family homes sold for a median price of about $787,000
2016: 39 single family homes sold for a median price of about $620,000




Sunday, March 13, 2022

Did you buy a house around 2010? If so you're house wealthy

 

The sun has been shining on home ownership over the last decade

A recent report by the national Association of Realtors researches shows homeownership brought tremendous wealth gains over the past decade:

  • A homeowner who purchased a typical single-family existing home 10 years ago at the median sales price of $162,600 is likely to have accumulated $229,400 in housing wealth
  • Total housing wealth rose $8.2 trillion from 2010 through 2020, with 6.3 million more new homeowner households.
  • From 2010 through 2020, the metro areas with the greatest increase in middle-income homeowners were Phoenix, Austin, Nashville, Dallas, Houston, Atlanta, Orlando, Portland (Oregon), Seattle and Tampa.
  • The aggregate value of housing wealth rose across all income groups, but those in the high-income group gained 71% of the increase in housing wealth.
If you bought just about anything in Chicago in over 2010-2012 you are doing really well on re-sale.  This is not always the case.  Often too many people look at their home as an investment rather than where they really need or want to live.  However it is undeniable you have a chance to gain wealth over time by owning your home. You almost always get something back when selling real estate after holding for a little while... never the case when renting.




Saturday, March 12, 2022

Bucktown condo sales in 2022

"Newer" construction condos and mixed use buildings with popular Bucktown businesses line North Damen Avenue.

We're working with clients on the sale of their Bucktown condo.  The three bedrooms, two baths home with two car parking and enormous deck will hit the market this spring. The neighborhood is among the best in Chicago for walkable restaurants, cafes, shops and transportation. Let's take a look at over-all condo sales around Bucktown.

Bucktown sales area

Bucktown condo sales January 1st to March 11th

58 condos sold so far in 2022 with a median price of $467,500. 75 condos sold in the crazy market of 2021 over the same period with a median price of $480,000. 

  • 8 one bedroom condos sold with a median price of  $250,000
  • 24 two bedrooms condos sold with a median price of  $410,000
  • 25 three bedrooms condos sol with a median price of $607,000
  • Only one four bedrooms condo has sold thus far for $660,000


 

Friday, March 11, 2022

Lincoln Square home sales (new construction pushes up price-point)

 

Green wind screens and new construction are the norm around Lincoln Square, Chicago. Single family home construction and prices have been soaring. Pictured is one of three homes under construction on West Ainslie near Lincoln Ave. The homes have 165' long lots. (Photos Eric Rojas, Broker, Kale Realty)

Home Sales This Year

28 single family homes have closed in Lincoln Square from January 1st to March 10th of this year.  The median price of a closed home during this time is $784,000. That median price isn't eye popping for the area... BUT 12 of the homes closed sold for over $1M and one home sold for over $2M.   

Currently 22 single family homes are under contract with a median asking price of $1.1M (much higher than the $784,000 closed median price so far this year). 13 of the 22 homes under contract are listed over $1M and one is $2.45M.

A two-flat building sits between newly built homes on West Winona of Lincoln Square.  The house  pictured on the right sits on          a 30'x150' lot.

I know of over a dozen new construction homes in Lincoln Square currently under contract from $1.395M to $2M. Many of these new construction homes under contract are not listed (shown) on the MLS.   We'll probably see a record average price and record median price for homes by the end of 2022.


Wednesday, March 09, 2022

Chicagoland area residential prices up as inventory lags last year

New construction is the name of the game in Chicago (all photos Eric Rojas, Broker, Kale Realty)

 The story of spring 2022 in our MRED market? From January 1st to March 7th of the year:

🤔UNDER CONTRACT UNITS are DOWN
🤔NEW LISTINGS are DOWN
BUT
🧐OPEN HOUSES are UP
🧐SOLD PRICES are UP🔥
🧐NEW residential listings lag same time last year

Tight inventory and high prices have slowed sales a little bit from last year's record pace. However people are lining up for open houses and every transaction we are personally involved in is a MULTIPLE OFFER






Monday, February 21, 2022

Holy cow over 2,500 Lakeview condos sold last year

A popular condo conversion in a former church building sits at North Seminary and West Barry in Lakeview (All photos Eric Rojas, Broker, Kale Realty)

A whopping 2,596 condos (attached units/ townhouses) sold in Lakeview over 2021. It may be a calendar year record! This is the highest number of unit sales recorded in the MLS since 2007 where 2,316 condos sold. 2007 is as far as I can go back on unit sales and the year prior to the mortgage meltdown of 2008. 

  • 2,596 condos sold in 2021
  • 1,868 condos sold in 2020
  • 1,739 condos sold in 2019
  • 1,901 condos sold in 2018
  • 2,061 condos sold in 2017
  • 2,002 condos sold in 2016
  • 2,042 condos sold in 2015
  • 2,316 condos sold in 2007
The 2,596 condos sold blows away the 1,739 sold in 2019. In that year we had very low interest rates and no pandemic. The Lakeview condo sales trend has bucked the pandemic conventional wisdom of many! The relatively dense Lakeview area has churned out sales rather than pile up months of inventory. 2020 unit sales (height of pandemic unknowns) even surpassed 2019. Anecdotally speaking the majority of sales appear to be locals making lateral and move-up purchases. 

Typical condo construction around Lakeview over the past ten years.


Tough to buy...

One group of our clients is looking for a "duplex" home (multi-level attached unit) with minimum three bedrooms in Lakeview.  This is a hard score if you're on a budget.  Currently there are fifteen duplex condo homes listed that meet the criteria. The median asking price is about $900,000!

Twenty-seven Lakeview duplex condo homes (minimum three bedrooms) are under contract with a median asking price of about $700,000. 

Read more at www.facebook.com/chicagorealestatelocal

To buy and sell in Chicago's Lakeview and surrounding neighborhoods please contact erojas@kalerealty.com

Sunday, February 20, 2022

Uptown condo sales (minimum three bedrooms or more)

We looked at a "duplex down" condo on nice block of the Buena Park neighborhood in Uptown. Budget, transportation and proximity to the lake are factors that make Uptown appealing. All photos Eric Rojas, Broker, Kale Realty 

Our clients are looking to buy a large condo (attached condo unit and townhouses) with minimum three bedrooms or more. They currently live in a small two bedrooms, one bath condo in East Lakeview.  Looking in Uptown is a good option for their budget and their desire to stay near the lake.


Uptown three bedrooms condo sales

-268 three bedrooms or more attached units (condo/ townhouses) sold in Uptown.  The median sales price for this type of condo was $450,000.  
-2021 unit sales are up 22% and median price are up 7% over 2020.  In 2020, 219 condo homes with minimum of three bedrooms sold with a median price about $419,000.
-Going back about five years to 2017 we see that 200 condos with a minimum three bedrooms sold in Uptown with a median price of $388,000.

-Currently in 2022 (Jan 1st-Feb 20th) twenty-three condo homes with three bedrooms or more have closed with a median price of about $400,000. 

About nineteen condo homes with minimum three bedrooms are currently listed for sale in Uptown with a median asking price of $439,000.  

Visit www.facebook.com/chicagorealestatelocal

Wednesday, February 16, 2022

Tight real estate market for Chicago January 2022


Not a ton of relief in January 2022 for Chicago house hunters.  Inventory was low and average prices high.  As market time creeps up sellers need to be aware of rising mortgage interest rates that were about 3.7%  for a 30yr fixed last week.

MARKET SNAPSHOT — CITY OF CHICAGO

*The City of Chicago Market Snapshot represents the residential real estate activity within the 77 officially defined Chicago community areas as provided by the Chicago Association of REALTORS®.

  • 1,821 properties were sold in the City of Chicago in January 2022. This is a 7.3% increase from January 2021.
  • The median sales price in the City of Chicago for January 2022 was $310,000, the same as this time last year.
  • The City of Chicago saw listings average 89 days on the market until contract, a 4.7% increase from January 2021.

INVENTORY

  • The City of Chicago’s inventory is down 32.7%, from 8,294 homes in January 2021 to 5,578 homes in January 2022.
  • The month’s supply of inventory decreased 45.9%, from 3.7 in January 2021 to 2.0 in January 2022.

Monday, February 14, 2022

Evanston single family home sales (median price up about 9%)

 

It was cold on Evanston's bustling Central Street on Saturday! My partner Bob took the Metra to the Central Street Station and waked to our house showings. Our clients would still like walkable businesses nearby the house. This makes homes near Central Street attractive to them. 

We have a couple groups of clients looking for a single family home in Evanston. Proximity to Metra stations and a good sized yard are priorities for both. In fact, it's the yard size that is pushing them out of the city to Evanston. They both have the budget for a nice house in the Lincoln Square, Chicago area but the yards will be comparatively small.  Here's a look at over-all single family home sales over the past few years.

A familiar looking brick bungalow in north Evanston.  Our clients are moving from a similar Chicago bungalow!

Evanston Single Family Home Sales

-38 single family homes have already closed in 2022 (January 1st through February 13th) with a median price of $585,000. Eight of these home sales have been over $1,000,000.

-504 single family homes sold in Evanston in all of 2021. The median price was $630,000.  The median price is up about 9% year to year over 2020.

-The highest priced sale in 2021 is 706 Sheridan Road, Evanston IL 60202 for $2,400,000 (I thought there may be a higher priced sale considering the explosion of the high-end market over the last 18 months). Six houses sold for over $2 million.

-The lowest priced single family home sale was $151,500 at 1712 Grey Ave, Evanston IL 60201.

-537 single family homes sold in 2020 with a median price of $580,000. More houses sold in that first and more uncertain pandemic year than the crazy heated 2021. Sales in 2021 reflect low inventory and priced going up (making home buying more competitive). Inventory could not keep up with buyer demand.  Four houses sold for $2.5 million or more in 2020.

A typical block of homes near Central Street, Evanston.

  • 2021: 504 single family homes sold with a median price of $630,000
  • 2020: 537 single family homes sold with a median price of $580,000
  • 2019: 431 single family homes sold with a median price of $508,000
  • 2018: 422 single family homes sold with a median price of $550,000
Going back several more years:
  • 2015: 492 single family homes sold with a median price of $504,000
  • 2012: 431 single family homes sold with a median price of $440,000


Thursday, February 10, 2022

National single family home prices continued to rise 4th Quarter, 2021

 

Locally we have felt meteoric rise in single family home price and cage match competition to buy a house. That said Chicago area is NOT among the highest price gains nationally! All photos Eric Rojas, Broker, Kale Realty

Many of our Chicago area clients can sell their homes quickly for a net profit... but where to move? Single family home prices across the country continued to make gains in most of the country 4th Quarter 2021

Here's some of the latest from the National Association of Realtors on 183 Metro areas:

- 4th Quarter 2021 prices continued to rise nationally (although slower) and over-all affordability dropped.
- 67% of markets had a double-digit median price increase (down from 78% in the prior Quarter)
-The most expensive US markets had the largest percentage price gains.
-The median price of a house across 183 metro areas in 4th Quarter of 2021 was $361,700

Metros in the Sunbelt and Mountain states topped the list of areas with the highest yearly price gains: 
Punta Gorda, Fla. (28.7%); Ocala, Fla. (28.2%); Austin-Round Rock, Texas (25.8%); Phoenix-Mesa-Scottsdale, Ariz. (25.7%); Sherman-Denison, Texas (25.1%); Tucson, Ariz. (24.9%); Las Vegas-Henderson-Paradise, Nev. (24.7%); Ogden-Clearfield, Utah (24.7%); Salt Lake City, Utah (24.4%); and Boise City-Nampa, Idaho (24.3%).

The top 10 most expensive markets in the fourth quarter witnessed prices surge, with nine of them doing so by double-digit percentages:
California led the way with five metros in the top 10, along with five other areas, including: San Jose-Sunnyvale-Sta. Clara, Calif. ($1,675,000; 19.6%); San Francisco-Oakland-Hayward, Calif. ($1,310,000; 14.9%); Anaheim-Santa Ana-Irvine, Calif. ($1,150,000; 23%); Urban Honolulu, Hawaii ($1,054,500; 16.8%); San Diego-Carlsbad, Calif. ($845,000; 14.2%); Los Angeles-Long Beach-Glendale, Calif. ($797,900; 15.9%); Boulder, Colo. ($775,100; 17.2%); Seattle-Tacoma-Bellevue, Wash. ($700,000; 13.9%); Naples-Immokalee-Marco Island, Fla. ($685,000; 21.2%); and Nassau County-Suffolk County, N.Y. (644,600; 9%).


Sunday, February 06, 2022

New (PRE-MLS)! East Lincoln Park studio condo at The Marlborough FOR SALE $137,900

 

400 West Deming Place Unit 1B, Chicago IL 60614 is the perfect efficient home in A+ East Lincoln Park! North Pond, the lakefront, bars, restaurants, shopping and Lincoln Park Zoo outside your door.  All photos Eric Rojas, Broker, Kale Realty and VHT.com

New kitchen, new bath and new windows!

Photo link, 3D Tour and floor-plan

The Marlborough! 400 West Deming 1B in Lincoln Park. Super sharp renovation of this gorgeous studio condo in A+ location along the lake. New custom kitchen, bathroom and new windows. Plenty of room for sleeper couch and table area. Large walk-in closet. Private storage closet on same level next to the condo. 


Refinished floor, new baseboard, new paint, new kitchen... move-in ready!


Life is good at the historic and beautiful Marlborough building. Full time maintenance on site! Gorgeous lobby. 🚶‍♂️ Walk across the street to the lakefront, acclaimed North Pond restaurant Lincoln Park Zoo 🐧🦩🐘. Every neighborhood amenity you could want is just outside your door. Super low monthly assessment $177.18 (includes heat, gas and high speed Internet) and property taxes $413.00 with homeowners exemption (that's right only $413.00 🤯).

The most unique opportunity to call Lincoln Park home! Asking $137,900.

  • No Dogs
  • Cats OK
  • Rental parking available at 2626 N lakeview next door
  • Assessment $177.18 (includes high speed Internet, heat and cooking gas)
  • Property Taxes $413.00 with homeowners exemption
  • Rentals OK with 1yr lease (NO short term rentals/ NO Air B&B)
  • Licensed Broker / Agent owned

Building features include: Coin Laundry, Elevator, Storage, On Site Manager and Engineer, Package Room, Service Elevator, BIKE ROOM

Amazing amenities right across the street from your condo! 




Are you eligible Cook County property tax exemptions?

 


Cook County 2021 property tax year exemption filing opens in March.  The top graphic shows which tax exemptions will carry over. We are shocked by how many clients we meet that do not take their Homeowner Exemption!

The graphic below has information for first time applicants of how and when to file for tax exemptions. An overview of tax exemptions can be found here


Go to CookCountyAssessor.com to apply and get more information on tax exemptions. 

Saturday, February 05, 2022

Roscoe Village condo sales up 20% year to year


The thriving business district and great schools continue to attract buyers to Roscoe Village in the North Center Community area of Chicago.  All photos Eric Rojas, Broker, Kale Realty or VHT.com

-2021 was a strong year for Roscoe Village condo unit sales.  148 condo units sold from Jan 1st to Dec 31st with a median price of $440,000.  

-Unit sales are up 20% over 2020 and up 32% over 2019.  

-Those sales are spread amongst a diverse condo housing stock from vintage one bedroom units to luxury "duplex-up" new construction.  72 of the 2021 condo closings had at least three bedrooms or more with a median price of $575,000.  

-The 2022 calendar year has started out on the higher-end. Five condos have sold in January 2022 with a median sold price of $580,000.

We recently listed 2151 West Roscoe 3W, Chicago IL 60618 for $619,900. The three bedrooms, two baths condo features a huge private rooftop deck. Check out the 3D tour... now under contract!

  • 124 condo units sold in 2020 with a median price of $459,000
  • 112 condo units sold in 2019 with a median price of $465,000
  • 92 condo units sold in 2018 with a median price of $453,000
  • 108 condo units sold in 2017 with a median price of $440,000.

If you are looking to buy or sell a home in Roscoe Village or other North Side homes please contact us erojas@kalerealty.com