Monday, January 23, 2023

North Park Chicago single family home sales

A charming North Park home near Northeastern Illinois University. All photos Eric Rojas, Broker, Kale Realty

I was out on this cold Monday morning looking at North Park single family homes with my clients. The area is an option for their $400K budget.  It will still be tough.  About 25 homes sold at $400K or under over 2022. The condition of homes gets bleak fast under $350,000.

North Park Single Family Home Sales

62 single family homes sold over 2022 with a median price of about $450,000. As mentioned above about 25 of those homes sold for $400K and under.  One home sold for over $1M. 5741 N Kostner, Chicago IL 60646 closed for $1,249,000. 

Only six homes are currently for sale listed on the MLS. Prices range from $350,000 to $850,000.  Two additional homes are listed on the Private Listing Network.  We viewed one of those today listed at $349,900.

Friday, January 20, 2023

West Ridge super sneaky house values, median price up


West Ridge community area's diverse residential housing, diverse demographics, small business community and access to great parks offer great value compared to many north side neighborhoods. 

My clients are ready to trade their small Lincoln Square / Bowmanville condo for single family home life.  With one large dog, another in the works and work-from-home situation... they need more space. They are on a budget under $400,000 and open to neighborhoods further west or north to take the next step.  West Ridge may be the answer.

West Ridge single family home sales 2022

114 single family homes sold in 2022.  The median price of a sold single family home over last year was about $465,000 (about half of Lincoln Square a couple miles to the south). Only one house sold for over $800,000. With mortgage interest rates up and the buying frenzy slowed I expect that median price to plateau.  Prices will remain close however to last year's due to more renovation and development in the area delivering higher quality products.

In 2019 (pre-pandemic) 141 homes closed with a median price of $365,000
2020, 142 single family homes closed with a median price of $399,900
2021, 152 homes sold with a median price of $429,000

West Ridge has great access to large parks like Warren Park and Indian Boundary Parks. It is a short trip to Chicago and Evanston beaches. Small business, grocery stores, schools, larger retailers and religious institutions are in close proximity throughout the entire community area. 

About 13 homes are currently on the market in West Ridge with a median asking price of $500,000. 

My (younger) kids at Indian Boundary Park  back in 2015! Our 4th would have been a few months old by now... maybe I am carrying him while taking pictures? 

Thursday, January 19, 2023

Record $530,000 median price for Bucktown condo sales 2022

We sold 1653 N Cortland #2 last summer in Bucktown for $566,000 in a multiple offer.  All photos Eric Rojas, Broker, Kale Realty and 

We're back in Bucktown looking with a condo buyer client. Last year was hot for our listings and unit sales! It is likely Bucktown 2022 saw a record high for median price.  Let's take a look at sales in 2022 and what's currently on the market.

A look at the general Bucktown neighborhood boundaries and sales from 2022.

Bucktown condo sales (townhomes, attached units) over 2022

245 condo units sold over 2022. The median price of a sold Bucktown condo was a hefty $530,000. This looks to be a record median price according to my research of the past seven years of price growth. Relatively larger and updated condo units represent the neighborhood.  There are few one bedroom condo units nor a true high-rise building. 
Fun facts:
- A two beds, two baths condo median price was about $445,000
- The median price of a condo with a minimum three beds and two baths was about $655,000.

198 condos sold over 2019 (pre-pandemic) for a median price of about $475,000. 
101 condos sold in 2020 with a median price of $490,000
A whopping 340 condos sold in 2021 with a median price of $519,000
Unit sales dropped back down to 245 units sold in 2022 with a high median price of $530,000.

Current sales

At this moment only 26 Bucktown condo units are listed for sale.  Of those only five condos are listed for under $500,000. Nine condo units are currently under contract with a median asking price of almost $700,000.

* To buy and sell condos, houses or multi-units in Bucktown and other North Side Chicago neighborhoods please contact us at Eric Rojas, Broker - *