Closed! Lincoln Square townhouse with two car garage

Our client closed on this popular Bowmanville neighborhood townhouse in the Lincoln Square Community Area. The large corner home has spacious rooms, great light, large main floor deck, rooftop deck and rare two-car attached garage!

This spring market has been incredibly competitive for buyers.  5350 N Damen, Unit F, Chicago IL 60625 closed for $596,000 after our clients won a multi-offer situation. Getting in a quick, professional and very strong offer helped them over the top. The median price of a closed townhouse in Lincoln Square area is about $600,000 over the past twelve months. 

We're grateful for our clients effort and collaboration!  It can be exhausting battling it out all spring. If you need help securing a home or need to sell your home with a full service broker at fair commissions please reach out to us! Erojas@kalerealty.com

Eric Rojas, Broker

Kale Realty

2447 N Ashland, Chicago IL 60614

773-510-1597

erojas@kalerealty.com

Lincoln Park high-rise condo sales this year, 50+ unit buildings

We'll be listing a two beds, two baths condo in one of Lincoln park's popular high-rise buildings this spring. The unit overlooks Lake Michigan and Diversey Harbor. High-rise living by Chicago's lakefront is a distinct and fulfilling option for those looking to take advantage of city living while enjoying an active, outdoor lifestyle at your door front!

2626 N Lakeview in Lincoln Park.

Lincoln Park high-rise condo sales (50+ unit buildings) Jan 1st - March 26th, 2025

42 high-rise condo have sold in buildings with 50+ units from from January 1st to March 26th of this year.  The median price of a sold unit is about $310,000. Condo units with at lease two bedrooms sold with a median price of about $425,000. 

Over-all median price is up about $20,000 over same period of 2024.  Units sales are down about 10 condos from same period 2024. 

While the purchase price of Lincoln Park high-rise condos trend below those in smaller buildings the monthly assessments and amenities of each building vary greatly. It helps to use a good lender's spreadsheet to input all the variables included (or not) in the assessment.  Common factors are mortgage principal, interest, property taxes, utilities, fitness room, parking and insurance.

The North Pond early this month just steps from 2626 N Lakeview in Lincoln Park. There is no comparison to having our beautiful lakefront, trails, ponds and amenities outside your door! 

Contact me at erojas@kalerealty.com to buy or sell in Lincoln Park and surrounding neighborhoods.

Lincoln Square small multi-unit sales, two-four flats

 

The 2700 block of West Giddings is lined with small multi-units. The peaceful street ends at the river to the west. All photos Eric Rojas, Broker, Kale Realty

Our client would like to buy a small multi-unit in Lincoln Square. The plan is to be a live-in owner (also known as an owner-operator). They have experience owning a house in another state and see a multi-unit as more affordable than a Lincoln Square house and a better value than a condo purchase.  In most cases they will be able to use 75% of current rental income from the building towards qualifying for a larger home loan. Ask me about owning multi-units and reach out to my lender Steve Dunnett to learn about financing options stevedunnett@greenstate.org

Lincoln Square Multi-unit sales (two-four units) over the last 12 months

51 small multi-units sold in Lincoln Square over the last 12 months.  The median price of a sold two-four units building is about $800,000.

Two-flats: 31 Lincoln Square two-flats have sold in the last 12 months.  The median price is about $750,000.  Most buildings sold in the median price range need a lot of maintenance and updating.  Five of the two-flat buildings sold for over one million ($1,000,000).

Three-flats: 15 three-flats sold with a median price of  $835,000.

Four-flats:  5 four-flats sold with a median price of $950,000

Currently 5 multi-units are for sale in Lincoln Square while 10 are under contract.

To purchase, lease or sell real estate in Lincoln Square or surrounding neighborhoods and suburbs please reach out to me erojas@kalerealty.com

SmartBuy mortgage program can help eliminate student loan debt!

Turn your student loan debt into a home ownership! We work with our lenders concerning many homebuyer and mortgage programs. The SmartBuy program is an awesome opportunity for would be home buyers carrying student loan debt. Check out the link above and contact my loan officer Steve Dunnett.

Evanston co-op apartments half the price of a condo purchase ($160,000 vs $300,000!)

The living room at 1585 N Ridge, Unit 411, Evanston, IL 60201. We sold the large one bedroom, one bathroom unit pre-MLS for $130,000 Eric Rojas, Broker, Kale Realty

Cooperative apartments in Evanston might be the value you have been looking for in our relatively expensive Chicago and North Shore housing markets. Is a co-op apartment for you?

- 41 co-op apartments sold in Evanston over the last 12 months.
- The median price of a sold co-op is about $165,000.
- Over the same period 397 condos sold with a median price of $300,000.

Check out some of the differences purchasing into a co-op apartment building.

Contact me to buy, sell, rent or invest in Chicago and near suburban real estate. erojas@kalerealty.com

We recently sold three Evanston Co-Op apartments... ask me about Co-Ops!

 

The kitchen at 1585 Ridge Avenue, Unit 310, Evanston, IL 60201 pictured above. The two beds, one bath Unit 310 sold for our list price of $149,900. We worked with three separate Co-Op apartment sellers in the same building earlier this year. All photos Eric Rojas, Broker, Kale Realty or VHT.com

We recently sold three Evanston co-op apartments. Apartment cooperative (co-op) ownership is different than condo ownership. We help you understand the difference so you don't make a Co-OOOPS!

"You’re buying shares in the nonprofit corporation that owns the building. You’ll receive stock instead of a title as you would with a traditional home purchase" as described by Rocket Mortgage. The nonprofit corporation has much more control and "leeway" concerning the apartment building rules, regulations and final decision in approving a sale of those company shares.

The living room at 1585 Ridge Avenue, Unit 411, Evanston, IL 60201 pictured above. We sold the large one bed, one bath unit to a well qualified buyer for $130,000 prior to the unit hitting the MLS.

Some "Pros" to buying a co-op in Evanston or Chicago can be the price and stability. Due to often stricter rules and stricter conditions buying into a co-op the purchase price can be lower than market rate condos. Those stricter rules can also be a PLUS for a shareholder who wants a stable building with no renters (or no pets for example) and less owner turn-over. 

The main difference in purchasing and selling a co-op apartment is the current shareholders can accept or deny a purchaser based on their finances and their intended use of the unit.  For instance the managing shareholders may require a full cash purchase or 20%- 50% cash down for a purchase (much stricter than a mortgage lender for example) for a purchase or a certain level of current income. Additionally they may only allow shareholders to live in the unit (and not a roommate without shareholder status). The nonprofit conducts an interview with prospective shareholders and can deny their purchase if the whole package does not meet shareholder qualifications.

The kitchen at 1585 Ridge Avenue, Unit 302, Evanston IL 60201. We sold this two beds, one bathroom co-op apartment sold for $170,000 including a garage parking space.

There is no interview process in a condo building. Generally if you can buy a condo with cash or you qualify for the mortgage... you CAN buy it.  Current owners cannot deny you based on finances or require more money down. A condo purchaser/ owner is subject to the home owners association by-laws and rules and regulations but the purchase and sale are less restrictive processes.

Ask us about buying and selling co-op apartments!  We have experience in helping buyers and sellers understand the ins and outs of making a transaction happen! Eric Rojas, Broker, Kale Realty erojas@kalerealty.com

Oak Park single family home median price up 19% since 2019

A home adjacent to Taylor Park in Oak Park, All photos Eric Rojas, Broker, Kale Realty

An Oak Park client recently asked for a comparative market analysis (CMA) of their home.  While I researched their specific home's market value I also took a look at Oak Park over-all single family home sales this year.

Oak Park Single Family Home Sales 2023

399 single family homes have sold in Oak Park from January 1st to December 31st, 2023. Median price of a sold single family home this year is about $525,000 (up 19%). The median price in 2019 prior to the pandemic was $440,000.  

-The highest priced sold home is $1,750,000 at 420 N East Avenue, Oak Park IL 60302.  

-The lowest priced sold home in 2023 is $170,501 at 1131South Ridgeland, Oak Park IL 60304. 

Many Oak Park blocks have large setbacks and green parkways.

Looking to buy an Oak Park single family home now? 30 single family homes are currently listed for sale on the MLS with a median asking price of $519,000.  There are 20 homes listed on Private Listing Network. Although some of these homes listed privately present opportunity I believe many are over-priced at this point. Private Listing Network often takes some maneuvering!

Contact Eric Rojas, Kale Realty to buy and sell homes in Chicago and near suburbs. erojas@kalerealty.com

La Grange single family home sale units down almost 25%

 

Downtown La Grange is ready for the holiday season.

I've been back in La Grange over the past month looking for a four bedroom single family home with clients. They need a move early next year. Several families close to us (be it friends, work associates and/or clients) have made the move to La Grange over my career. My wife and I find ourselves in the desirable southwest suburb often. The community offers great public and private schools, robust downtown and convenient Metra transportation (BNSF line) to the city.

La Grange single family home sales January 1st to December 1st

155 La Grange single family homes sold from January 1st to December 1st this year.  The median price of a sold home is about $607,000.  The highest priced sold home was at 131 8th Avenue, La Grange IL 60525 for $1,285,000.  The lowest price single family home closing was at 39 Washington Avenue, La Grange IL  for $220,000. 

The la Grange downtown and Metra are two of the major factors for our clients making the move from the city.

- Unit sales are down almost 25% from same period 2022 where 203 single family homes sold with a median price of about $610,000.  Median price of a sold home remains about the same. As with most Chicago area markets low inventory and high mortgage interest rates have slowed sales but have not necessarily affected prices.

- In the frenzy of 2021 with low mortgage interest rates and accelerated buying time-lines a whopping 240 houses sold with a median price of about $570,000. 

- In 2019 pre-pandemic (normal times) 180 single family homes closed with a median price of $550,000.

Currently there are 14 single family homes on the active market with a median asking price of around $650,000. Homes are priced from $300,000 to $1,950,000. There are five homes listed on the Private Listing Network of our MLS... one priced near $3 million.

To buy, sell, rent and invest in Chicago and near suburbs please reach out erojas@kalerealty.com  I'm happy to answer your questions.

Chicago area leads nation in home price growth May to July

Chicago area residential home prices have had a good summer! All photos Eric Rojas, Broker, Kale Realty

Chicago area home price gains lead the nation from May to July.

Crain's reported last month, "For the third month in a row, home prices grew faster in the Chicago area than in any other major U.S. metro area, according to new data from the S&P CoreLogic Case-Shiller Indices released this morning. Chicago-area single-family home values rose 4.4% in July compared with the same time last year."

Median price in Chicago (city proper) was up almost 5% in August over August 2022. 

Chicago Metro Area prices were up almost 10% August 2023 over same period last year and Illinois median price was up almost 8% August 2023.

Gold Coast Chicago residential sales (single family median price up 25% from 2021)

 

The Gold Coast neighborhood is a great walk even when rainy and gloomy.  Fall weather seemly transforms you to a past era! All photos Eric Rojas, Broker, Kale Realty

 

We're back in the Gold Coast looking for a condo under $500K for out-of-state buyers. They will spend half the year here in Chicago and want an iconic neighborhood address.  

Gold Coast real estate has a mind of it's own. The single family and row house market does not necessarily mimic Chicago's other North Side neighborhoods due to the historic architecture and its unique location. Condos are a mixed bunch of vintage conversions, mid-rise and high-rise options (not to mention very elusive new construction options!). Market times can be very high for many of these elaborate and sometimes eccentric single family homes and condos... some over 1000 days on the MLS.

Greater Gold Coast sales area 

Single Family Home Sales January 1st to September 22nd, 2023

- 15 single family homes have sold in Gold Coast this year from January 1st to September 22nd. The median price of a sold home is about $2,500,000.  Unit sales have remained remarkably consistent over the past three years. 

- 16 homes sold over the same period over 2022 with a median price of about $2,600,000. 

- Interestingly only 17 homes sold over the frenzy of 2021 with median price of about $2,000,000.  We generally see much more units sales in 2021 than 2023 due to low interest rates and a quickly moving market. Gold Coast house unit sales have remained consistent despite the high mortgage interest rates and inventory problems plaguing most markets.

-Currently there are 28 single family homes for sale listed on our MLS. 16 of those homes have an asking price of over $3 million. The highest asking price at the moment is $17,750,000 for 3 West Burton Place.

Condo Sales January 1st to September 22nd, 2023

-552 attached condos sold this year with a median price of about $315,000.  This includes high-rise units. In the 2021 frenzy of low interest rates 612 condo units sold with a median of $315,000 as well. 

-If we look at buildings with 40 or less units only 54 condos sold with a median price of $885,000. Smaller buildings with larger units are a premium.

Small Multi-Unit Sales (2-4 units) 

- Only two small multi-unit building sold in the Gold Coast neighborhood so far this year. One four-unit billed as a redevelopment opportunity sold at 55 East Cedar Street, Chicago IL 60611 for $1,660,000. A three-flat with a beautiful duplex "owners unit" at 46 Est Cedar sold for $2,520,000. 

-There were no residential two-four unit buildings sold in 2021 or 2022.

Contact me with any real estate related questions involving your home price, selling, buying, rentals, real estate related referrals, taxes and more erojas@kalerealty.com 

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Evanston home sales this year: Fewer listings, prices up year over year

Most years we have clients considering a move to Evanston.  Single family home inventory seems tighter than ever this year.  The number of unit sales is down 20% year to year.

Evanston homes near the lakefront (all photos Eric Rojas, Broker, Kale Realty)

-As of today only six homes are NEWLY listed in the past seven days. 

-33 more homes remain actively on the market (listed for mor than a week without contract). The median price of an Evanston single family home currently offered for sale is about $685,000.

-7 homes are listed on our Broker MLS Privet Listing Network with  median price of about $899,900.

-233 single family homes closed this year (January 1st to August 11th) with a median price of about $720,000. Over the same period last year 290 listings closed with a median price about $700,000.  

Contact: Eric Rojas, Broker, Kale Realty

2447 N Ashland, Chicago IL 60614

Office 312-602-3367

erojas@kalerealty.com

Wilmette single family home sales - High end market takes off

 

Our clients are looking to move from Chicago to Wilmette for a larger yard. All photos Eric Rojas, Broker, Kale Realty.  

We've been hot on the trail of Wilmette single family homes priced in the $900,000 to $1.2M range this year. Despite acting quickly and aggressively each purchase offer we've made has resulted in a multiple offer situation. We suffered a loss just last weekend. Rising interest rates have not seemed to affect demand in this price-point...yet. 

Let's take a look at recent Wilmette single family home sales. 

Wilmette Single Family Home Sales January 1st to June 25th (year over year)

$2,000,000 is a mere drop in the bucket for Wilmette lakefront homes. All photos Eric Rojas, Broker, Kale Realty.

162 single family homes have sold in Wilmette from January 1st to June 25th of 2022.  The median price of a sold home is $900,000. Thirteen homes sold for over $2M. That's only two less than the past five years combined (same period year over year).

The highest priced sold home sold this year is 1330 Chestnut Avenue, Wilmette IL 60091 for $4,950,000.
The lowest priced sold home this year is 535 Leclaire Avenue, Wilmette IL 60091 for $292,600.

How do the 2022 first-half sales stack up against the pre-pandemic market? 

In 2017, 195 homes sold with a median price of  $710,000. One home sold over $2M.

In 2018, 209 homes sold with a median price of about $815,000.  Seven homes sold over $2M.
In 2019, 186 homes sold with a median price of $619,000. Interestingly no homes sold over $2M

The pandemic hit in the middle of spring market 2020. 

Over January 1st to June 25th of 2020 only 140 homes sold with a median price of $720,000.  Three homes sold over $2M. Over the same period of 2021... when the real estate sales phenomenon really hit...  a robust 227 homes sold with a median price of  about $865,000. Four homes sold over $2M. 

Evanston single family home sales (median price up about 9%)

 

It was cold on Evanston's bustling Central Street on Saturday! My partner Bob took the Metra to the Central Street Station and waked to our house showings. Our clients would still like walkable businesses nearby the house. This makes homes near Central Street attractive to them. 

We have a couple groups of clients looking for a single family home in Evanston. Proximity to Metra stations and a good sized yard are priorities for both. In fact, it's the yard size that is pushing them out of the city to Evanston. They both have the budget for a nice house in the Lincoln Square, Chicago area but the yards will be comparatively small.  Here's a look at over-all single family home sales over the past few years.

A familiar looking brick bungalow in north Evanston.  Our clients are moving from a similar Chicago bungalow!

Evanston Single Family Home Sales

-38 single family homes have already closed in 2022 (January 1st through February 13th) with a median price of $585,000. Eight of these home sales have been over $1,000,000.

-504 single family homes sold in Evanston in all of 2021. The median price was $630,000.  The median price is up about 9% year to year over 2020.

-The highest priced sale in 2021 is 706 Sheridan Road, Evanston IL 60202 for $2,400,000 (I thought there may be a higher priced sale considering the explosion of the high-end market over the last 18 months). Six houses sold for over $2 million.

-The lowest priced single family home sale was $151,500 at 1712 Grey Ave, Evanston IL 60201.

-537 single family homes sold in 2020 with a median price of $580,000. More houses sold in that first and more uncertain pandemic year than the crazy heated 2021. Sales in 2021 reflect low inventory and priced going up (making home buying more competitive). Inventory could not keep up with buyer demand.  Four houses sold for $2.5 million or more in 2020.

A typical block of homes near Central Street, Evanston.

• 2021: 504 single family homes sold with a median price of $630,000
• 2020: 537 single family homes sold with a median price of $580,000
• 2019: 431 single family homes sold with a median price of $508,000
• 2018: 422 single family homes sold with a median price of $550,000

Going back several more years:

• 2015: 492 single family homes sold with a median price of $504,000
• 2012: 431 single family homes sold with a median price of $440,000