Recent Kenwood Chicago home sales

 

A home on South Greenwood in Kenwood (all photos Eric Rojas, Broker, Kale Realty)

I took my kids for a walk around Kenwood yesterday with a stop at #44's home for a photo. It dawned on me I've taken my two older kids around a couple times but the eight and five year olds had not been to the neighborhood. My eight year old Stanley likes "mansions" so it was high time he saw THESE mansions. They had fun. 

No one was home... THANKS OBAMA

One of the few contemporary mansions in Kenwood

I use to do much more business in Kenwood/ Hyde Park in the earlier 2000s. This was a product of working with more relocation clients and the sort of heated development market of 2005-2008. That said these days I still frequent the neighborhoods after trips to 31st Street Beach, kids' sports, visiting friends or on bicycle trips down the lakefront. After looking around today I wondered how Kenwood fared in this unique roller coaster of a real estate year.

Kenwood Single Family Home Sales

Kenwood is less dense than many Chicago neighborhoods that reside close to the lakefront. Due to the extremely large parcels in the historic district (relative to the rest of the city) there are fewer single family homes. The price point varies greatly from the historic district homes south of 47th Street and the majority greystones packed a little tighter north of 47th Street.

28 Kenwood single family homes closed from January 1st to December 18th of this year. This is the lowest number of homes sold since 2014. However the median price of a sold home this year is $595,000. That's the highest median price since 2015 ($670,000).

Plenty of space for lawn darts.

The highest priced sold home is 4943 South Woodlawn, Chicago IL 60615 for $2,425,000.  In the past five years the highest priced sold home topped out at $2.75M. The lowest priced single family home sold is 4415 South Berkeley, Chicago IL 60653 for $195,000. The vintage row house style property last sold in 2018 for $135,000 (no improvements look to have been made).  Interestingly five homes sold on the 4400 Block of South Berkley block making it 18% of total Kenwood single family home sales so far this year. 

-2019, 40 single family homes closed over the same period with a median price of about $539,000. 

-2018, 46 homes sold with a median price of $565,000.

-2017, 32 homes sold with a median price of $479,000.

-2016, 32 homes sold with a median price of $580,000

-2015, 30 homes sold with a median price of $670,000

-2014, 28 homes sold with a median price of $426,500

Kenwood single family home sales (and the Obama house photo-op)

We decided to take a photo in front of this house at South Greenwood and East Hyde Park in the Hyde Park-Kenwood neighborhood.

My oldest son played hoops on 47th Street in the Kenwood neighborhood last week.  I used the occasion to walk him over to Mr. and Mrs. Obama's residence for a picture.  It was my son's first tour through the magnificent Kenwood mansions and his first visit to our former president's house. This was an enjoyable excursion for us and a good opportunity for a history lesson. My son got to dream a little.  I may have shed a tear in front of 44's house...

A large, dreamy estate in the Kenwood neighborhood. 

The modern and contemporary homes that sprinkle Kenwood are my favorite (although I did not get very good photos on this walk).

This was another large property with lots of land.  However, many of the vintage home are in need of upkeep.

The Kenwood neighborhood footprint.

Kenwood home sales January 1st to October 19th, 2018

34 single family homes have closed in the Kenwood neighborhood this year. The median price of a closed home is $600,000.  Eight homes have sold over $1,000,000. The highest sold home is 5008 N Greenwood, Chicago IL 60615 for $1,850,000. The large classic estate home had many renovations and sits in the "mansion" area of Kenwood. The lowest priced sold home is 828 East 47th Place, Chicago IL 60615 for $121,900. The tenant occupied row home sold as a foreclosure and the buyer was not allowed entry prior to purchasing while.  For that price you take the chance!

Past sales notes

The unique mansion area, many vintage row houses and diverse housing stock 

coupled with wide swings in socioeconomic demographics north and south of 47th Street make for a quirky real estate market.  The median price of a house has stayed fairly consistent over the years despite fluctuations in unit sales numbers. 

-Two years ago in 2016, 24 homes sold over the same period with a median price about $595,000.  A couple homes sold over $2 million that year.

-In 2014, 21 homes sold with a median price about $500,000.  The highest sold house closed for $2.7 million.  

-Seven years ago in 2011, just 13 homes sold over the same period with a median price right around $500,000.  Yet a fully renovated house on an average sized 60' x 179' lot for the Kenwood mansion area sold for $2.3 million.

This contemporary is getting a little work done.

Several homes are of the Art Deco variety. 

Housing and our urban setting in Chicago

Great conversation about to begin on Extension 720 with Milt Rosenberg on WGN AM about our neighborhoods and housing issues in terms of race and economics. I'm looking forward to it... if you miss the program this evening and want to listen, check out the archives. Milt posts shows that you can listen to or download to your I-POD.

One of the guests in the evening has authored a book about the Kenwood neighborhood and surrounding area.