Edgewater single family home sales up 26% in 2020

 

Homes on West Hood in Edgewater Glen, Chicago. This little community is close to North Broadway restaurants, the lake and the CTA Red Line. All photos Eric Rojas, Broker, Kale Realty

We're helping a client get their beautiful Edgewater Glen home prepared for the spring market. Edgewater is a diverse Chicago Community Area - in its people and housing options - that extends from the lakefront all the way back to North Ravenswood Avenue. I think many people first envision the 1960s and 1970s high-rise and vintage courtyard buildings near the lake. The neighborhood is dense with multi-units and condos. Edgewater is also home to attractive single family homes among it's tight knit neighborhoods. Let's take a look at the single family home sale market.

Edgewater single family home sales

82 single family homes sold in 2020 with a median price of $735,000. The median price has inched up the last few years but down from 2016 when it was $805,000. The highest priced sale in 2020 is 1439 West Farragut closed for $1,425,000.  The renovated grey stone is steps from Andersonville restaurants, bars and shops.  The lowest priced sale in 2020 was 1624 West Peterson for $285,000. The foreclosed home is located near the busy Peterson/ Ridge intersection and needed a gut renovation.

A rare modern design home is being built in Edgewater Glen.

Recent single family home sales

Four homes have closed in the first month of 2021 (January 1st to January 31st). Notable is the highest priced retail sale of a single family home ever in Edgewater. 1340 West Berwyn sold for $2,325,000.

2020 82 single family homes sold with a median price of $735,000.

2019, 64 single family homes closed with a median price of $700,000. 
2018, 87 single family homes closed with a median price of about $677,000.
2017, 71 single family homes sold with a median price of  $675,000
2016, 88 single family homes sold with a median price of $805,000
In 2015, 71 single family homes closed with a median price of  $628,000

Check out more images of Lakewood Balmoral homes in Edgewater  HERE

Lakewood-Balmoral Historic District and Edgewater Glen are probably the better known sub neighborhoods of Edgewater for blocks dominated by single family homes.  West Edgewater between North Clark and  Ravenswood has its own distinct vibe and is close to great amenities.

A "people spot" in the Andersonville neighborhood of Edgewater.  The restaurant / retail strip is one of the most robust and fun in the city.

Contact us to purchase or sell Edgewater homes!  More Edgewater posts HERE

West Ridge condo median price dips a little 1st Quarter 2020

Our most recent West Ridge listing is at 6015 N Mozart Unit 102, Chicago IL 60659 in the West Ridge neighborhood.

We have a listing back on the market in the West Ridge Community Area of the North Side. The first time we listed the unit we had lots of showings and multiple offers in the first week. Unluckily those buyers backed out due to the current virus outbreak situation.  The market has been climbing in West Ridge and the demand for nice condos in stable buildings is strong. Those priced out of Lincoln Square and/or Edgewater are turning to West Ridge to be close to amenities like parks, grocery stores, restaurants and services for less money.

West Ridge attached unit sales (condo/ townhouse)
Sixty attached units have sold from January 1st to March 26th, 2020. The median price of a sold condo is about $126,000. Median price is down about $10,000 from same period in 2019. Condos in the southeastern portion of the West Ridge Community Area tend to sell for more than in the northwest portion of the area. Since 2016 median price is up over the same period about $20,000.

Over the same period of 2019 sixty-four attached units sold with a median price of about $138,500.
Over same period of 2018 sixty-five attached units sold with a median price of about $135,000.
Going back to 2016 sixty-six units sold for a median price of only $105,000.

398 total attached units sold over 2016 with a median price of about $110,000. Three years later in 2019 about 345 attached units sold overall with a median price of about $145,000. Median price climbed about 31%

Slow snowy start to Lincoln Square area spring market

My block in Lincoln Square on this snowy morning. Homes in the sub-neighborhoods of Bowmanville and Winnemac Park have been been slow to come on. Many listed homes either need renovations or have been priced over $1 million.

I have clients looking to get into a Lincoln Square house. It's been a slow start for good houses in the $850,000 to one million range. Many houses in the $900s to just over one million are re-treads from the fall and/or sitting on the market. The market does not see them as priced well. We're seeing homes bought over the last five years in Lincoln Square, Edgewater and North Center now listed just over a million dollars that will have to re-sell for less. That reality can slow things up!

While new re-sale listings have dripped on the market I've noticed a healthy dose full gut renovations and new construction homes in the works around Lincoln Square.

Mortgage interest rates are low.  However low inventory and high initial asking prices combined with another whopper national election may bode for a slow year in unit sales. Currently twenty-four houses are for sale in all of Lincoln Square with an eye opening median asking price of $925,000.  Yet the median price for a sold Lincoln Square single family home is about $715,000.   Current listed homes are priced from about $400K to $3.2M. 

Looking for Edgewater single family homes (and a peek at sales)

Homes along West Edgewater Avenue last weekend. Several homes are listed for sale on the block.

I was out last weekend with our buyers looking at newer construction homes in southwestern Edgewater. We're creeping through a slow January for home new listings. I tell my motivated clients to hang in there! However a couple of the open houses we went to had tons of foot traffic despite being on the market for awhile.  I've also shown my clients Pre-MLS listings and private listings that will go on the MLS (or not) next month.

Let's take a quick look at Edgewater home sales.

2019 Edgewater single family home sales 

The Edgewater Community Area recorded 64 single family home sales over 2019.  The median price of a home sale was about $700K. The highest sale was an amazing custom renovation at 1341 W Balmoral for $2,155,000.  The least expensive home sold was 6069 N Ridge for $246,000. The small three beds, one bath home on a busy traffic stretch has a long 138' lot.

Five homes closed in the month of January of 2019.  With one more day in January 2020 (a Friday), four homes have closed. Ten homes are currently under contract and I estimate maybe two will close by tomorrow before the end of the month.

Under Contract! West Ridge condo near great parks and shopping gets multiple offers

Our latest North Side Chicago listing in the West Ridge neighborhood (just northwest of Lincoln Square) went under contract over the weekend with multiple offers.  The two bedrooms, two baths newer construction home at 6015 N Mozart Unit 102, Chicago IL 60659 listed at $199,900 showed great. Buyers jumped at the value in this challenging price-point! We enjoyed preparing the condo for sale and showing the unit. The contract is now in attorney review period. More details HERE

Take a quick walk-through of the unit!

Large kitchen island overlooks the living room with gas fireplace.

 The unit had been rented for many years and needed a refresh. We brought in our contractors for painting, new carpets, buffing the floors, new appliances and changing out a few fixtures. The home looks like brand new construction!

Master bedroom with double closets and large en suite bathroom

Double vanity, jet tub and separate shower.

The walk-out terrace is off both the kitchen and master bedroom

The building is just northwest of the pricey Lincoln Square and Andersonville neighborhoods and west of Edgewater. The location is easy to many great amenities and institutions such as Northeastern Illinois University, North Park University, Swedish Covenant Hospital, Legion and River Parks, Mather High School, North Park Nature Center, Indian Boundary Park, Green Briar Park, Warren Park, Target and Wolfy's!  I94 and the North Shore communities are easily reached.


This condo unit attracted a ton of showings and multiple offers. There is a demand for value just outside of the hottest North Side neighborhood centers. Give us a call or email to buy and sell in Chicago and the near suburbs.

Would you buy a two-flat subject to tenancy?

This Edgewater two-flat is a great price and condition for our client. BUT it comes with a catch. All photos Eric Rojas, Broker, Kale Realty

We looked at a few newly listed small multi-unit buildings with our client on Sunday in Edgewater, Addison Mall and North Park neighborhoods. We jumped on the best priced building in Edgewater (preferred location). We found out quickly that the purchase was subject to tenancy.  This generally means the buyer will have to adhere to the current tenant lease agreements upon closing. Whatever that may be.

In this case the property has month to month tenants in both units and the "in-law" unit situation. We wanted the tenants vacated prior to a closing. The seller's agent has told us the owner won't do that... the tenants will be the buyer's responsibility.  Basically the tenants aren't going anywhere.

Even though the asking price is great this is too much risk for our buyer. This will be her primary home and she will rent the other unit out. No stomach for squatters or an eviction process should it come to that.  A professional investor who has dealt with tenant issues may be wise to scoop this up. Understanding local ordinances and a state's specific tenant law is key when buying multi-unit buildings.

Edgewater two-flat sales (and small multi-units)

Our client lives near one of the coolest restaurant, bar and retail strips in the city.  She aims to stay here trading in her condo for a two-flat. All photos Eric Rojas, Broker, Kale Realty

Stumble home from Hopleaf? Yes please! Many of us remember the small, smokey front room with the great jukebox of one of Andersonville's finest institutions. Hopleaf has grown in size with the mega popularity of this Edgewater neighborhood and real estate prices have followed. Our client is looking to upgrade to a two-flat in Edgewater.  Let's take a look at recent two-flat sales prices.

No matter how hard you squint (and dream) it's a dump! This grey-stone on the 1700 block of West Winona needs a gut renovation along with expensive exterior maintenance.

Edgewater two-flat sales in 2018

21 Edgewater two-flat buildings have closed over 2018.  The median sale price of  a two-flat over that time is $600,000. At $600,000 you get a nice conditioned building near the Andersonville strip. We're not talking luxury here.  The building will be serviceable with good location. In 2016, 28 two-flat buildings closed with a median price of $605K and in 2014 another 28 two-flat buildings sold with median price of  $515,000.

There is still a good stock of two, three and four-flats in Edgewater.  Not every sale is converted to a single family home (buildings on the 1400 block of West Winona).

18 three-flats closed over 2018 with a median price of about $790,000. The highest priced three-unit building to sell is the beautiful 5915 N Magnolia for $1,060,000.    One smallish four-unit building at 1752 West Catalpa sold in 2018 for $660,000. 

Only five two-flats are currently available for sale in Edgewater with a median asking price of $500K (and $500K ain't getting you much).

Edgewater home sold for $790,000 gets the extreme gut renovation treatment

The vintage facade of a corner property at North Ravenswood and West Rosehill in Edgewater remains. A permit was issued to convert the property to a single family home at 1775 West Rosehill in August of 2017 at estimated cost of $2,000,000.

The massive house project sits across the street from Rosehill Cemetery and adjacent to Fireside Restaurant.

It has been a crazy summer full of our client business but not a lot of posting. Hopefully I will be posting more of the day to day stuff we come across this fall season.  Like this house shown above at 1775 West Rosehill.  It looks like it was purchased in early 2016 for $790,000.  I don't have photos of the before or the date originally built.  However, it looks like the owners have elected to keep the facade during the otherwise complete new construction of the house.  The construction permit also states this is a conversion to a single family house... interesting multi-unit.

Sold! Clients buy vintage co-op at Edgewater Beach Apartments

You've seen it!  You love it! Edgewater Beach Apartments (EBA) building at 5555 N Sheridan Road, Chicago IL 60640 (all photos Eric Rojas, Broker, Kale Realty unless otherwise noted).

Congrats to our buyer clients on their purchase of 5555 N Sheridan Road Unit #1608 in iconic Edgewater Beach Apartments  co-op on Thursday The large two bedrooms, one bath vintage unit was a steal at $125,000.  Our out-of-state buyers intend to use the home as an "in town".  This bright home will shine after floors are refinished and a good paint job. The assessment is $949/ month which includes everything (Heat, Water, Gas, Property Tax, Common Insurance, Security, Doorman, TV/Cable, Exercise Facilities, Pool). The lakeside grounds, on-site maintenance, retail offerings and building amenities have you covered!

The bright living room and dining rooms need some love. The huge apartment has formal rooms and many original details.  Photo Eldorrado Chicago Real Estate

The co-op purchase is much different than buying a condo in many ways. Namely you are buying shares of the cooperative. Applications must be submitted and co-op board may interview and reject potential purchasers.  Prospective purchaser's finances are greatly scrutinized and minimum down payments (or cash deals) can be required.  Here's a basic comparison of condo vs co-op.

Great west views from the unit (lake views will cost you more!)

The Bryn Mawr Historic District and surrounding blocks offer dozens of shops, cafes and restaurants like Starbucks, Francesca's Bryn Mawr outside your door. Mariano's grocery store is a few blocks down on North Sheridan and the building is adjacent to lakefront paths and the beach. The CTA Red Line stop at Bryn Mawr is a couple blocks from the Edgewater Beach Apartments. The buyers will "car-less" when visiting their city home!

EBA's huge swimming pool and room built for a Wes Anderson movie! The pool restrooms, shower and locker room area have been renovated not too long ago.

Client Mark with real estate attorney Kent Novit.

18 apartments have sold in the last 12 months at Edgewater Beach Apartments. Prices range from $82,500 for a studio apartment to $425,000 for an updated 2000 sq/ft three beds, two and one-half baths home. The design of the building, views and various updates make each apartment home truly unique!

Buyers eye iconic Edgewater Beach Apartments

A vibrant mix of vintage and new buildings line Bryn Mawr leading to the Edgewater Beach Apartments in the background.

We had a great time Saturday showing our clients available units at "that pink building" in Edgewater despite the cold gloomy weather. Edgewater Beach Apartments (EBA) at 5555 N Sheridan Road, Chicago IL 60640 offers large vintage cooperative apartments in a full amenity building along Chicago's lakefront. Read about EBA's history and features here.

Living like the roaring 20s!!

Our clients (from Wisconsin) will be retiring and have viewed several Chicago locations and buildings from Old Town to Edgewater with us.  They have come back to EBA for the history, vintage feel, lakefront and beautiful common areas offered by this lifestyle building.


20 units have closed in Edgewater Beach Apartments over the last 12 months as recorded on the MLS. The median price of a closed unit is only $185,000 (with a monthly assessment around $1,000 that includes property taxes, heat, cable, Internet, cooking gas, use of all amenities and a contribution to the capital projects fund).  The low purchase price and included amenities are attractive to our buyers who would also like to renovate a unit to their liking. For example we saw a 1200 sq/ft unit listed for only $140,000 that they can customize.

Call us to help you find mid-rise and high-rise units in Chicago!

SOLD! Edgewater condo goes to cash buyer (and other Edgewater sales stats)

5319 N Kenmore is a vintage courtyard building with unique units.

Our Edgewater Beach duplex condo listing at 5319 N Kenmore #3A closed this week (asking price was $209,900). The affordable condo provides amazing location near many transportation options and is just steps to Foster Beach. Congrats to our long time clients who made the move to the suburbs earlier this summer.

Take the video walk-through and ask us for more opportunities buy and sell opportunities!



Edgewater condo sales 2017 (UNDER 50 units)
324 condo units have sold from January 1st through September 28th. The median price is about $280,000. The highest priced condo closing this year sold for an impressive $800,000 at 5820 N Clark Street North Unit 406, Chicago, Illinois 60660. The new construction condo boasted four bedrooms and two and one-half baths.

Over the same period of 2013, 237 units closed with a median price of about $227,000.

Hang on to summer at the Waterfront Cafe, Edgewater

Enjoy the extended hot weather this week at The Waterfront Cafe in Edgewater 6209 N Sheridan Road, Chicago IL 60660

The patio at night!

Uncle "Duck" with my kids on a chilly night earlier this month at Waterfront Cafe.

My aunt grew up in the Edgewater neighborhood.  However, she has lived in Boston for roughly 30yrs.  With family in town from Boston I thought I'd surprise them with dinner in the old neighborhood... on the lakefront! Drinks and food are better on the lake! It is a great spot to hit after Kathy Osterman Beach or Thorndale Beach.

There is still time to enjoy the warm weather at the Waterfront Cafe this weekend. The atmosphere, live music and playground at Berger Park make for a great evening for everyone. More photos here.

It was difficult to get the kids (and adults) out of Berger Park after dinner.

NEW amazing price! Edgewater Beach duplex-up, $209,900 (VIDEO)

Updated duplex-up unit in vintage courtyard building 5319 N Kenmore Unit 3A, Chicago IL 60640 (all photos Eric Rojas, Broker, Kale Realty and VHT.com)

5319 N Kenmore Unit 3A for sale $209,900 Watch the video!!

Fantastic duplex-up Edgewater Beach condo. Two bedrooms up, one full bath, half-bath, separate living and dining/family rooms, in unit washer/dryer, central heat/ AC AND two shared decks. 

More photos and property information HERE
  

WOW. Main floor features living room with tree top views, renovated powder room, updated kitchen with new counter-tops, back splash, cabinet doors AND a true dining or family room with fireplace! 

Upstairs you'll find two huge, bright bedrooms (one with walk-in closet), a gut renovated bathroom and in unit washer and dryer. Nest thermostat, freshly painted and ready to move-in! This is a big home steps from Foster Beach, Berwyn Red Line, 147 express bus, Mariano's and Jewel. 6 blocks to heart of Andersonville. Rental parking next door available. No rental restrictions for unit. 

Foster Beach steps away!

Live the Edgewater Beach lifestyle for less!

 Exclusively listed by:

Eric Rojas, Vice President/ Broker

Kale Realty

2447 N Ashland

Chicago, IL 60614

773-510-1597

ericrojasblog.com

Realtor on a bike easier in the city

My trusty 1998 Trek 7000 has been my city bike for almost 20 yrs!

I spent the last few days riding my bike to our showing and contractor appointments around Lincoln Square and Edgewater.  With four kids, listings and buyers in the suburbs and lots of variation in my schedule it has been more difficult to go "bike only" most days.  However the city affords me the option when available. The last three days have been car free. I wrote about riding on showings back in 2008 and organized an open house tour by bike in 2009 (when homes were a little tougher to sell!).

Lincoln Square and Edgewater are particularly easy to cycle. If my appointments are further south in Lakeview or Lincoln Park I may hit the lakefront paths. Being a career Realtor/ Broker has probably influenced me to ride around the city more than if I had a more traditional downtown job. Streetsblog Chicago and The Chainlink are go-to resources for cycling in Chicago and near burbs.

If you'd like a bike friendly Broker give us a call!

Sold! Edgewater town house sells $6K over list price in multi-offer

5320 N Kenmore Unit T, Chicago IL 60640 just closed for $375,000

Our blog posts have been light lately but we've been busy with many buyers and sellers closing their deals as we get into late summer. Our clients just closed 5320 N Kenmore Unit T on Friday.

Take the video tour of our attractive Edgewater town house sale located close to Foster Beach and the CTA Red Line at Berwyn. Corner unit, garage parking, tasteful finish level and great bathrooms! The property was listed at $369,900 and sold after the first weekend of open houses for $375,000.

Congrats to our clients on their sale and "move-up" single family house purchase! We enjoyed aggressively researching any opportunity in this tight single family home market on the North Side of Chicago.

Whooooo!

Call or email us to buy and sell in Chicago and the surrounding suburbs! We love what we do and it shows!

New for sale! Edgewater Beach duplex-up at 5319 N Kenmore Unit 3A $209,900 (VIDEO)

Updated duplex-up unit in vintage courtyard building 5319 N Kenmore Unit 3A, Chicago IL 60640 (all photos Eric Rojas, Broker, Kale Realty and VHT.com)

5319 N Kenmore Unit 3A for sale $209,900 

Fantastic duplex-up Edgewater Beach condo. Two bedrooms up, one full bath, half-bath, separate living and dining/family rooms, in unit washer/dryer, central heat/ AC AND two shared decks. 

More photos and property information HERE
  

WOW. Main floor features living room with tree top views, renovated powder room, updated kitchen with new counter-tops, back splash, cabinet doors AND a true dining or family room with fireplace! 

Upstairs you'll find two huge, bright bedrooms (one with walk-in closet), a gut renovated bathroom and in unit washer and dryer. Nest thermostat, freshly painted and ready to move-in! This is a big home steps from Foster Beach, Berwyn Red Line, 147 express bus, Mariano's and Jewel. 6 blocks to heart of Andersonville. Rental parking next door available. No rental restrictions for unit. 

Foster Beach steps away!

Live the Edgewater Beach lifestyle for less!

 Exclusively listed by:

Eric Rojas, Vice President/ Broker

Kale Realty

2447 N Ashland

Chicago, IL 60614

773-510-1597

ericrojasblog.com