Monday, February 19, 2024

Lincoln Square vacant lot sold for $630,000, now $1.8M house

A new construction house at 4936 N Bell nears completion. According to my resources the home is priced for sale just over $1.8M. All photos Eric Rojas, Broker, Kale Realty

New construction is in full swing in Lincoln Square for spring season. 4936 N Bell, Chicago IL 60625 sold last year as vacant land for $630,000. The previous original small "farmhouse" was demolished. The new home sits on the wide 30" x 125" lot and features four to five bedrooms and over four bathrooms. The suggested price is just over $1.8M. Considering the size of the lot, the prevailing new home finishes and the location the home should sell quickly when completed.

4936 N Bell shown in the middle prior to demolition. 

Despite rising mortgage interest rates in 2023 the single family home market remained in high demand. Single family homes and land/ development opportunities priced comparably to the past few years in Lincoln Square were gobbled up. In fact median price was up 20% over 2022.

- 85 Lincoln Square single family homes sold in 2023 with a median price of about $985,000. Median price was up 20% over 2022!

- In 2022, 131 single family homes sold with a median price of $825,000.

To buy homes in Chicago and near suburbs (including private and off-market opportunities) contact Eric Rojas, Broker, Kale Realty

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