Rogers Park multi-unit sales, median price up 67% since 2014

We sold this Rogers Park two-flat earlier this year for $355,000... $5K over the asking price. All photos Eric Rojas, Broker, Kale Realty and VHT.com.

We recently sold a Rogers Park two-flat for an out of state client.  Rogers Park is seeing an upturn in their real estate as buyers are priced out of the Edgewater market.  Yet, those in Rogers Park get many of the same amenities from CTA access to the lakefront.

Rogers Park multi-unit sales (two-four flats) Jan 1st to Sept 21st

Eighteen two-four flats sold thus far in 2018 with a median price of $570,000.
Ten of those sales are two flats with a median price of $570,000.
Seven sales were three unit buildings with a median price about $570,000
One four unit building sold for only $312,000.  This looked more like an old frame two flat that had some small units carved out.

Over the same period in 2017, twenty-seven multi-units sold with a median price around $533,000.
In 2016, twenty-one multi-units sold with a median price of $455,000.
In 2015, twenty-seven multi-unit buildings sold with a median price of  $411,000.
Over the same period 2014, only eleven multi-units sold with a median price around $340,000.

The multi-unit segment of the Rogers Park housing market has really roared back!

Rogers Park condo sales: Median price up 100% over five years ago

Murals at the Morse CTA Red Line station. All photos Eric Rojas, Broker, Kale Realty

There is a lot to see in Rogers Park.  Murals, public art, eclectic homes, local business, parks, Loyola campus and the lake for example. You can experience various pockets of this large Chicago community area each with their own feel. However, the Rogers Park condo market was one of the worst hit on the north side after the financial crash of 2008.  With several clients looking to dip their toes in the area it's a good time to look at recent condo sales.

A new residential 50 unit apartment development nears completion at 1323 West Morse.

339 condo units (attached units including town homes) sold in 2018 so far.  The median price for a sold condo is a wallet pleasing $185,000.  The highest sold condo this year is 7631 West Eastlake Terrace, Unit 2EF for $435,000. The unit is probably the closest unit to the lake in the city!  The lowest priced sold unit is 2032 West Jarvis Unit 1B for $60,000.  The one bedroom "English Garden" unit is in move-in condition. 

A private residence features a Little Free Library and art pieces. 

The Morse CTA stop anchors northern Rogers Park. Primarily local businesses line Morse and Ravenswood. 

In 2017, 352 condos sold over the same period with a median price of  $175,000.  Go back five years to 2013 and 322 units sold with a median price of only $90,000.  Wow.  Probably some good investments to be had no?

Rogers Park Social has upped the bar game near the Morse CTA REd Line stop.

Lots of murals and charming brick roads.

The Heartland Cafe property and Lunt and Greenwood is up for sale.

Lots of vintage buildings in the RP.

Bikes and books, bikes and books...

Sad! Heartland Cafe, Red Line Tap property in Rogers Park for sale

I stopped by the Heartland Cafe at 7000 N Glenwood in Rogers Park yesterday for a few photos and review of the surrounding area. All photos Eric Rojas, Broker, Kale Realty.

There have been several high profile reports that Rogers Park institution Heartland Cafe has recently been listed for sale. I rode my bike up to Rogers Park for showings and swung by the property for some photos. Over the years I've both stopped in for coffee and taken clients here for lunch when buying or selling in the area.  Been awhile so I enjoyed the visit.

The recent owner since 2012 has enlisted a commercial broker who posted... wait for it... a Craigslist ad with "price negotiable".  Oy. It is definitely quirky this desirable lot and location is listed with a Craigslist ad with no price.  It is also posted at LoopNet with brochure HERE... but I digress.

The popular and huge outdoor seating area at West Lunt and North Glenwood.

The advertisement suggests you may buy the building with existing businesses and "own a piece of history" OR redevelop into 33 units in a transit orientated development... hmmmm. Yeah, it will be 33 units.

The property stretches back a good half block.

Mostly true. I can think of a few I would not welcome...

This wonderful "green" friendly community may lose a way of life in Rogers Park.

The property is located directly across from the CTA Morse Red Line station. The immediate area enjoys a handful of local businesses and just around the corner is the major development 1323 West Morse. The advertisement points out "The arrival of Target, launch of a 50-unit Pritzker-backed development at 1323 W. Morse Avenue, and opening of the Sheridan Road Hampton Inn are just a few of the new developments defining the neighborhood". 

CTA Morse Red Line station across the street.

I took a good look at 1323 West Morse. Construction updates from the Alderman's office located here

My suggestion is visit Heartland Cafe and Red Line Tap before they are gone. 90%
this lot will get maxed out to it's development potential. 50% chance at best the Heartland will be brought back in the new retail space.

Open House! Rogers Park two-flat asking $349,900 near Andersonville, METRA

1718 W Wallen, Chicago IL 60626 asking $349,900

OPEN HOUSE 

SATURDAY JULY 21ST 

AND 

SUNDAY JULY 22ND 

11AM TO 1PM BOTH DAYS

Take a quick video walk-through!

WOW. You want value? You get value.  We just listed this two flat building at 1718 W Wallen in Rogers Park for $349,900.  The building is a couple blocks north of Devon Avenue restaurants, close to Andersonville, the lake, easy to Evanston and 10 minute walk to Rogers Park METRA.

Vintage woodwork in second floor unit.

Both units in great shape and way above expectations at this price point.  Much improvement work has been done on the interior and exterior since 2004 including:
Two NEW AC condensors 2004
Two NEW FURNACES 2010
Most NEW windows 2008
Extensive tuckpoint 2014
New electric panels 2010
Rebuilt parapet walls 2008
Extensive insulation attic, ceiling and floors 2006
New concrete walks 2004

Bright, large first floor living room and sun room.

30' wide lot, lovely backyard and great garage.

Good bedroom size with large closets.  All bedrooms close in size.

First floor dining room.

Second floor dining room... gorgeous wood windows.

Updated first floor kitchen with breakfast bar.  Dishwasher!!

Second floor kitchen is open, bright.  Dishwasher!!

Amazing two-flat value in Rogers Park. Lovely landscaped home with move-in ready units. Fantastic opportunity for investor or live-in owner near Andersonville and Loyola University (GO RAMBLERS). 10 minute walk to Rogers Park METRA. 1st floor with neutral decor, large living room/ sun room, true dining room, nice sized (2) bedrooms, updated kitchen cabinets/counters and rear bonus room. 

Second floor features beautiful wood trim and same lay out as 1st unit. Large bathrooms in both units in great shape! Both units w/ separate Central Heat/ AC, water heaters and new electric panels! What?! Clean basement with two egress, 7ft ceiling and washer/dryer! Great yard (30' wide lot) and 2 car garage, 1 extra parking pad for 3 total spots! Many important improvements to exterior and interior over the past 10 years. Total no brainer purchase. Latest rents below market. I love this building... you will too!

MORE info and photos HERE

Exclusively listed by

Eric Rojas, Broker

Kale Realty

2447 N Ashland, Chicago IL 60614

773-510-1597

erojas@kalerealty.com

Weird home improvement need? Clark and Devon "Do It Best"!

I needed a few spindles for my vintage brass doorknobs and lock sets.  I go here!

The Clark and Devon Hardware at 6401 N Clark Street on the North Side is famous for it's expertise in all things home improvement and construction.  The place has a pretty legendary chaotic atmosphere of contractors and property owners speaking dozens of languages. 

One of the overlooked services we provide our real estate clientele is sourcing materials and property related information.  Resources like Clark and Devon Hardware, Studio 41 for finish products and design, Tile Outlet and Crest Lighting, A and B Hardwood Flooring, contractors, attorneys, and mortgage brokers help our clients purchase, sell and make home improvements with confidence.

Sunday Open House: 1140 W Morse in Rogers Park Offers Lakefront Living for Under $200,000

Open House this Sunday 6/14 from 1PM to 3PM

Now asking $184,900. Visit this impeccable garden condo just steps from the lake. Wonderful block just east of Sheridan with plenty to walk to.

Two beds... check. Two baths...check. Parking included east of Sheridan? You betcha.

Click here for my Rubloff site with photos and more information.

Chicago Voucher Program for Renters and Owners

Yesterday I wrote short post pointing out the Rogers Park two and three-flat investment market. Living in these buildings as an owner operator and participating in the city voucher program can be a wise move financially. But it's not an easy move.

First, there is city red tape to deal with. Some "red tape" is good like the checklist for owners... responsible landlords will improve a neighborhood. Check out the Owner's Guide to the program HERE.

Second, maintenance and turn -over (vacancy) in the units are unknown costs... you have to have a plan to deal with these irregular spurts of income and expenses. Finding good tenants who care for the property while living there is tough for any landlord.

Investment Three-Flats in Rogers Park

There has been a wave of movement and purchases in the three to four-flat market in Rogers Park. From several short-sales to auctions to conventional transactions, high rental income from voucher recipients have made these buildings attractive.

My contractor recently invested in a fully rented three flat. he's the type of guy made for this type of real estate investment. He can actually manage his own buildings and um... fix things.

Here's Ryne inspecting the goods. He's got our best interest in mind.

A fully rented three-flat building in good shape with voucher program eligibility will average about $400,000 depending on rental income.

Off Market: Lakefront Condo in Rogers Park for Under $200,000

I'll list this two bedroom, two bath condo with a parking space at 1140 W Morse, Chicago IL on the MLS within a week or so for $195,900. Features include a large master bath, marble surround in each shower, a walk-in laundry and utility closet, gallery hallway, good closet space, nice sized bedrooms and parking space.

1140 Morse is just steps from the lake and Loyola Park. Awesome, quiet location with several restaurants and coffee shops to walk to including Leona's (with it's outdoor cafe just across the street!), Starbucks, Giordano's Pizza, Chipotle, The Morseland and more. . Close to the Morse CTA Red Line stop and walking distance to Loyola University.

The lake is the main draw. One block away on your cul-de-sac street and your at the beach. You have a lake view stepping out of your door each day!

The 1100 West Block of Morse is dotted with beautiful homes and center entrance multi-units. The block has a low density and is very peaceful.

Great Location!

Free Canoe When Buying 7641 North Eastlake Terrace, Rogers Park

"4 FIRST COME PKG SPACES, LEASED PARKING AVAILABLE NEARBY, FREE CANOE AT CLOSING."

While looking for comparables along Lake Michigan in Rogers Park, I saw this quote with the accompanying photo in the agent remarks... Gotta a love a Realtor trying to get it done for her clients.

Who needs a parking space when you can paddle up?

Three Off Market Listings in Chicago's Old Irving, Ravenswood and Rogers Park

Where is this place and how do I get it?

I have several super secret listings that will hit the market in the next few weeks. Please call me for more information for the following in they sound interesting.

-The first one in the Ravenswood (Lincoln Square) neighborhood is a three bedroom, two bathroom condo with garage parking. Open floor plan, designated area for true dining, tons of windows and huge master suite and bath. It is a three year old new construction building located two blocks from the Damen Brown Line CTA and the Ravenswood Metra Line. You also have the Damen bus witch is great for going south to Roscoe Village and Bucktown. Asking price will be about $419,000.

-The next home is located in Old Irving near Irving and Keeler. It is a huge three bedroom, two bathroom unit with one garage space and one outdoor parking space included. Rare, wide lot three flat building. Beautiful looking property inside and outside. I really liked this place when my clients decided to buy it and it is large enough and in a great neighood to start a family. Steps to the CTA Blue Line and Union Pacific District Northwest Metra line. This is a one year old gut rehab This will list at about $399,000.

-The third place is located in Rogers Park at Fargo and the Lake. Two bedroom, two bathroom with parking. This unit has been updated and is in an elevator building. Live right on the lakefront and close to Loyola University, transportation and Evanston too. This will list at about $240,000!

I should be able to arrange showings for these before they hit the open market.

Garden Condos in Chicago? So far so good.

I'm working with a client (as we speak) who is contemplating a garden condo purchase.
A garden unit can be a few feet or more under ground...ceiling heights and light exposure can vary widely. But it can also allow someone a more affordable way to move into their neighborhood of choice. Remember... location, location, location.

But most people worry about the security and water seepage issues. Valid.

I've had several clients purchase garden units in conversion buildings over the past two years in Ravenswood, Ravenswood Manor, North Park, Rogers Park etc... So far so good. I'm also the owner of a duplex down in a converted condo building with a basement level floor (so far so good, even after the monsoon type rains we have had this supring and summer).

The truth is, basements can leak in Chicago. Happens to single family homes, apartments, new construction, conversions etc... But, if the right techniques are used during construction the home should stay dry.

In our building, adequate pumps and pipes were installed. But the real story behind keeping dry is our drain tile system. From what I know, this is the stuff if your going to have a living space below grade.

Anyone have any issues with garden condos? They have been a chicago staple as apartments.