April 2020 Near West Side / West Loop condo sales (unit sales down 40%)

Views from the West Loop (All photos Eric Rojas, Broker, Kale Realty)

The Near West Side Community Area rests just west of the Loop and is home to the very desirable West Loop neighborhood. We've helped buyers, sellers and renters for many years in West Loop and the surrounding burgs. We took a look at Near West Side over-all April condo sales numbers in light of the coronavirus outbreak.  It's the first full calendar month of sales since the shelter-in-place order.

Near West Condo Sales 2020
The affects of the coronavirus took hold in April 2020.  Near West units sales were way down from a typical April. 110 units closed in April 2019. Just 66 units closed in April 2020.  Unit sales were looking good in the First Quarter of the year (January through March). 214 units closed First Quarter in 2020 with a median price of $351,750. 201 units closed in First Quarter 2019 for Near North with a median price of $420,000.

January 2020, 45 condo units closed down 5 units from January 2019
February 2020, 53 units closed up 9 units from February 2019
March 2020, 85 units closed up 10 units from March 2019
April 2020, 66 units closed DOWN 44 units from April 2019.

My guess is we'll see unit sales down near 50% this year around Chicago.  Anecdotally speaking, several units I've showed clients over the past two weeks did go under contract without a price reduction.

Check out our newest listing in West Loop

Quick look at condo sales: University Village/ Little Italy near UIC in Near West Side

Nice view of downtown from the turf fields at University of Illinois at Chicago. Way cooler than the picture shows!  All photos Eric Rojas, Broker, Kale Realty.

I spent a few hours on the University of Illinois at Chicago campus Sunday while my kid's Welles Park 9U All-Stars baseball program practiced at the indoor baseball facility.  I took some time in the great weather to wander the grounds and look at recent sales activity in "University Village" neighborhood around the bustling school.

The large University Commons development just west of the campus athletic fields.

Town houses look over the outdoor turf fields, Curtis Granderson Stadium, tennis courts and more on one side and lead out to the mini downtown on South Halsted on the east.  Great spot!

The greater University Village/ Little Italy neighborhoods near the UIC Campus

University Village/ Little Italy sales over the past 12 months
160 attached units (condo, town house) sold over the last twelve months with a median price of about $310,000.  (11) one bedroom units sold with a median price about $190,000. (94) two bedrooms units sold with a median price of about $279,000. (47) three bedrooms units sold with a median price of about $480,000. (7) four bedrooms or more units sold with a median price about $500,000.

The shops and restaurants of South Halsted Street service the university crowd and residents looking to be near downtown.

The highest priced sale was 912 W Village Ct , Chicago, Illinois 60608 for $780,000. The beautiful 3 bedrooms town house features 3400 sq/ft and a two car garage. The lowest priced sale was $185,000 for 811 S Lytle St Unit 215, Chicago, Illinois 60607. The one bedroom condo features a parking space included.

The indoor turf at 901 West Roosevelt on the UIC campus

Curtis Granderson Stadium. Welles Park Baseball will be back soon for family night!

One of the outdoor turf fields.  The large outdoor complex is a great resource for the community.  Groups of students and some young kids were out enjoying the good early March weather.

Live near University of Illinois at Chicago and catch some great athletic events.

Popped into the attractive Pete's Coffee and Tea on the 1300 block of South Halsted during my walk.

I went to McKinley Deisgn for custom metal and wood

I took a quick trip to the Near West Side last weekend to visit McKinley Design.  Our general contractor Artistic Construction referred Mick's shop for our custom staircase rails.  We wanted metal and wood...they do metal and wood fabrication.

 

We sent some photos ahead the appointment.  The guys had some ideas in mind and walked me through the materials they could use.  We quickly got on the same page and they provided a proposal to my GC.

The shop at 2535 W Maypole

Mick and Mark

I look forward to posting the final product in a couple weeks or so. Thanks guys!