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.

Chicago home sales plodding along through 2023

 So... what's happening?? Chicago sellers are still in a pretty good spot!

-During the recent housing boom of 2019-2022 the City of Chicago saw all City median price raise +24% (reported by Crain's Chicago Business). Soooo if you bought a $400,000 home in 2019 it may sell today for $500,000.

-Low inventory and 7% interest rates (to slow inflation) slowed unit sales in 2023

-2023 Year to date Closed Sales for ALL Properties in the City of Chicago is down almost -19%

-2023 Attached Unit median price (condo, townhouse) is even with last year

-2023 Detached Single Family Home median price is down -7.7% over the same period of 2022

In our personal experience we see many of Chicago's most active markets are seller's markets. Late summer median prices were up month over month with plenty of "multiple-offer" situations in neighborhoods like Lake View, Lincoln Park, North Center and Lincoln Square.

Interest rates may come down a little in the coming months but I feel low inventory + pent-up demand will keep asking and sales prices steady. Chicago (and much of the country) doesn't have a very good solution to the inventory problem as homeowners hang on to their 2% and 3% mortgage rates while affordable unit development does not keep up.

Please contact me at erojas@kalerealty.com to help you plan, buy or sell a home in this market. Questions... just ask!

Tight real estate market for Chicago January 2022

Not a ton of relief in January 2022 for Chicago house hunters.  Inventory was low and average prices high.  As market time creeps up sellers need to be aware of rising mortgage interest rates that were about 3.7%  for a 30yr fixed last week.

MARKET SNAPSHOT — CITY OF CHICAGO

*The City of Chicago Market Snapshot represents the residential real estate activity within the 77 officially defined Chicago community areas as provided by the Chicago Association of REALTORS®.

• 1,821 properties were sold in the City of Chicago in January 2022. This is a 7.3% increase from January 2021.
• The median sales price in the City of Chicago for January 2022 was $310,000, the same as this time last year.
• The City of Chicago saw listings average 89 days on the market until contract, a 4.7% increase from January 2021.

INVENTORY

• The City of Chicago’s inventory is down 32.7%, from 8,294 homes in January 2021 to 5,578 homes in January 2022.
• The month’s supply of inventory decreased 45.9%, from 3.7 in January 2021 to 2.0 in January 2022.

Fast January start to Lincoln Park home sales (unit sales up 117%)

 

Single family homes remain in high demand this January 2021 in many of the city's neighborhoods. The unusual 2020 market kept busy through the later months of last year. Pending contracts and closings were up year over year in consecutive months across Chicago following the spring pandemic lull. 

Lincoln Park home sales

⇑ In January 2021, seventeen homes closed. Only eight home closed January 2020.

⇑ The median price of a single family home January 2021 was $1,425,000 (up 3%)

⇑ Combined condo and single family closings are up 46% for January 2021

⇑ Home listings were up 35% over January 2020

Current South Loop townhouse sales

I was in South Loop yesterday showing townhouses. Weather felt nice!

Seven town houses have closed this year from January 1st to February 12th with a median price of $750,000

29 town homes are actively listed with median asking $710,000

Only 14 are fee simple with assessment under $300.00 per month

12 town homes under contract w/ median asking price $650,000

86 town homes closed in South Loop in 2020 with a median price of $640,000. That median price was up 16% since 2015 where 88 town homes sold with a median price of $550,000. The town house style of living is in high demand due to the "single family home" feeling and lower assessments than the surrounding condo buildings.

Contact us to find or sell in the Chicago Loop, North Side or near suburbs.

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

Lincoln Square new developments small and large

 

2308 W Winnemac, Chicago IL 60625 was a small frame two-flat sold in fall of 2020 for $325,000. The building was torn down and will be replaced by a new construction single family home. All photos Eric Rojas, Broker, Kale Realty unless otherwise noted.

It will be another year of active development around Lincoln Square. Late last year I wrote about several larger condo/ apartment developments on the way HERE and HERE and HERE and HERE. We also wrote about a handful of three to six unit developments.  A quick walk around the neighborhood and you'll see plenty of new single family construction too. 

5119 N Claremont, Chicago IL 60625 sold for $509,500. The frame two-flat sits on a wide 34' x 133' lot.  A demolition permit was issued December 9th, 2020. The wide lot will allow for a larger than average single family home.

The original property at 2130 West Leland, Chicago IL 60625 shown above (center blue house).  The property was sold for $680,000. Google Maps image.

2610 West Winona, Chicago IL 60625 property was sold for $935,000 in late 2020. A house sits on a rare 90' wide by 150' long lot. Three new houses have been permitted for construction.

2610 West Winona in Lincoln Square.  The very unique three city lot property was sold and will be developed into three new single family homes.

If you are looking to buy of sell a home or condo in Chicago or the Chicagoland suburbs please contact us! erojas@kalerealty.com  More Lincoln Square posts HERE

Pre-MLS for sale! Lincoln Square four (4) unit building and adjacent vacant lot (video!)

5138 N Claremont, Chicago IL 60625 asking $849,900. All photos Eric Rojas, Broker, Kale Realty and VHT.com. Adjacent vacant lot for sale  $399,900

Video walk-through HERE  

Inquiries Erojas@kalerealty.com

We'll be listing two Lincoln Square properties near Winnemac Park after the Thanksgiving holiday. Please take a look at preview video link. Photos / video of 2nd floor Unit 2.  Both properties reside in 1+ rated Chappell Elementary School and 1+ rated Amundsen High School attendance districts.

5138 North Claremont, Chicago IL 60625 for sale $849,900 

Legal four unit building in great shape on 31' x 125' lot. Terrific value add or rent as is. Unit 1, 2 and 3 all above grade. All units vacant. Each with three bedrooms, one bath with same finish level and similar condition. Radiant baseboard heat and (2) wall mounted AC units in each apartment with condenser. Basement unit is discontinued and will need gut renovation. Basement also includes storage, washer/ dryer, boiler, separate water heaters and separate electrical panels for each unit. Separate gas meters for each unit.

Unit 2 living and dining rooms

Unit 2 dining room

Unit 2 kitchen with dishwasher

Unit 2 kitchen 

Unit 2 living room

Unit 2 bathroom

Unit 2 bedroom one

Unit 2 bedroom two

Unit 2 bedroom three

Unit 2 kitchen

Backyard

Backyard and covered back porches

Two car garage

Basement

Basement

5130 North Claremont, Chicago IL 60625 asking $399,900

*Zoning ordinance completed and restrictive covenant to allow 2800 sq/ft (above grade) single family home build on 25' x 125' lot.

*Current zoning RM-4.5 however only a single family home may be built on the vacant lot and the multi-unit must remain the same per restrictive covenant (i.e. if torn down only single family would be allowed). After any building permits approved for the vacant lot, properties to revert back to the uniform single family zoning RS-3 for the block per zoning ordinance approval and restrictive covenant. Public documentation of recent zoning ordinance and 40th Ward Alderman restrictive covenant available at broker discretion.

Exclusive listing by:

Eric Rojas, Broker, Kale Realty

2447 N Ashland, Chicago IL 60614

312.939.5253 - ericrojasblog.com erojas@kalerealty.com - kalerealty.com

More Lincoln Square posts HERE

Uptown single family home unit sales up 47% year to year

 

Uptown home just east of North Ravenswood Avenue and West of Ashland.  This Ravenswood area features a cluster of Uptown single family homes. All photos Eric Rojas, Real Estate Broker, Kale Realty

Uptown Community Area is better known for its lakefront adjacent location, condos, apartment towers and a myriad local businesses.  However it is home to pockets of impressive single family homes nestled within the urban hustle and bustle. The proximity to the lake, transit and average size of the homes result in a relatively hefty median price.

Historic home of Buena Park area in Uptown. All photos Eric Rojas, Real Estate Broker, Kale Realty

Despite the pandemic uncertainty Uptown single family homes have had a good year. Unit sales are up 47% over same period in 2019 and median price is the most in four years.

34 homes have closed thus far (January 1st to November 13th) in the Uptown Community Area.  The median price of a closed home is $900,000.  Unit sales are significantly up from the same period last year.  Only 23 homes sold with a median price of about $872,500 over the same period in 2019.

2018, 27 homes sold with a median sales price $775,000

2017, 40 homes sold with a median sales price $848,000

2016, 28 homes sold with a median sales price $980,000

2015, 24 homes sold with a median sales price $709,000

2014, 33 homes sold with a median sales price $840,000

The highest sale so far in 2020 is 801 West Castlewood Terrace, Chicago IL 60640 for $1,912,500. A good portion of that value is in the 83' wide and 115' lot beautifully landscaped lot. 

The lowest sold single family home is 4649 N Beacon Street, Chicago IL 60640 for $390,000. The home sits on a large 40'x156' lot and was advertised as a development opportunity. 

South Loop condo and townhome unit sales (median price up a tick)

 

South Loop... the best loop! Looking south down South Indiana Avenue Monday morning. All photos Eric Rojas, Broker, Kale Realty

We're currently preparing a South Loop townhome for the market. Let's take a look at greater South Loop sales this year.

South Loop condo sales January 1st to November 13th

South Loop unit sales were down about 72 units (-13%) in 2020 compared to the same period in 2019.  The median price of a sold condo is up about 3% year to year.

548 South Loop condos (attached units and townhomes) have sold so far this year.  The median price of a sold unit is $382,000. The highest priced sale is 1201 South Prairie Unit 5301, Chicago IL 60605 for $1,620,000. The lowest priced sale so far this year is 345 East Eastgate Place Unit 305, Chicago IL 60616 for $125,000.

620 units sold over the same period in 2019 with a median price of about $372,000. 

More South Loop posts here!

 

Home sales in Oak Park's Washington Irving school district (sales and prices steady)

Beautiful "Four Squares" with typical mature landscaping in Oak Park taken over the weekend. 

We are working with clients who will list their home for sale in Oak Park's Washington Irving Elementary School district. Despite the coronavirus pandemic unit sales and median price have been steady year to year.

Twenty-two single family homes have sold this year (January 1st to May 31st). The median price of a sold home is about $375,000. The highest priced sold house is 1114 S Scoville sold for $868,000. The new construction five bedrooms home sits on a 33'x126' lot.  1175 S Harvey is the lowest priced sold house at $190,000... quite the bargain!

Sales activity and median price have held up year to year. In 2019 twenty-six  homes closed over the same period with a median price of about $375,000 as well.

Two of many, many frame cottages just south of West Madison in Oak Park

Irving School District Single Family Home Sales January 1st to May 31st
(2020) 22 houses sold, median price $375,000
(2019) 26 houses sold, median price $375,000
(2018) 26 houses sold, median price $355,000
(2017) 19 homes sold, median price $335,000
(2016) 17 homes sold, median price $335,000

Working during the coronavirus outbreak Eric Rojas, Kale Realty

Some of you know me and my family very well. For those who don't... I'm married to a Pediatric Nursing Director and we have four kids ages 13 years old to 5 years old. Since the closing of school facilities March 13th and "things" hit the fan my wife has been working A LOT and  I've been in full time charge of our kids E-Learning and well being. The kids have had an amazing attitude through most of this. The parents? Up and down.

That said my business partner Bob and our team at Kale Realty are working at full capacity.  We've had some interesting showings, home closings and conversations with clients. Otherwise, it is business as usual... without seeing people LOL.  We miss our clients, associates and friends. Please know we are only a phone call, text or email away and will provide resources and answer questions. If you find yourself needing or wanting to buy, sell, rent or renovate we will help. 

Mortgage interest rates are way down and Chicago home prices will be a better bargain than the start of the year. If you are looking to buy a home for the long term or re-finance you can do fairly well right now.  We have also seen attractive condo and house listings sell fairly quickly.  We know the number of real estate transactions will be way down this year and many of us will have reduced income due to the pandemic (our family included). Now more than ever we can help make educated decisions.

Loftus Law offering $299.00 real estate closings!

Work with an experienced full service attorney on your real estate closing this year for $299.00! We'd spend a million for Patrick Loftus representing us... but you don't have to!

Mr. Loftus is offering $299.00 real estate closing fees until the end of 2017.  If you have a closing up or questions concerning a real estate transaction please contact Patrick Loftus at 773-632-8330.

Click HERE for the Loftus Law web site 

Contact Bob and I with any real estate purchase, sales or leasing questions 773-510-1597. Patrick has been great with our Chicago and suburban clients!

 

Sometimes home sellers leave the best things behind

A couple gems left in a house by sellers from a closing today.  Although most deals require all personal property to be removed prior to closing there are often happy exceptions.

These buyer clients told me a photo of the Pope left in the last home they bought in the same neighborhood about 7 years ago... and they kept it.  I have many picture frames, tools, a vase and an awesome lamp I use in my office from the house we bought.  The seller had been in the home for over 70 years!

Under contract! Our North Park condo seller gets "offer you can't refuse"

The well appointed kitchen at 5420 N Kedzie #3E (all photos Eric Rojas, Broker, kale Realty by VHT.com)

Our newest listing has found a buyer in the first day of showings. "An offer you can't refuse!"  5420 N Kedzie #3E was listed on Friday for $237,000 and first showings of the tenant occupied unit were scheduled for Sunday.  That's all it took for this attractive newer construction unit across from the state's perennial Top 3 high school Northside College Prep.

East facing exterior features a large balcony off the living room.

5420 N Kedzie #3E, Chicago IL 60625 listed at $237,000
Wow! Sharp newer construction three bedrooms condo across from Northside Prep (Illinois #1 high school) in North Park. This bright east facing condo has all the extras! Elevator, garage parking (plus tandem spot), big terrace, gas fireplace, organized closets and storage unit. Upgraded kitchen has tasteful finish level and breakfast bar. 

Large bedrooms including enormous master suite with walk-in closet, double vanity bath, separate tub and huge shower. Open living and dining floor plan leads to a great front terrace. Mechanical and finish level upgrades! Easy to 90 and 94 highways, Kedzie Brown Line stop and close to Lincoln Square. North Park University, Northeastern Illinois University, Legion and River Parks all steps away. Discover this great neighborhood and live the good life for less!

View 5420 N Kedzie property info here!

Exclusive listing by Eric Rojas, Vice President/ Broker

Kale Realty 

542 W Roosevelt Road

Chicago IL 60607

773-510-1597

 Call us to buy or sell your next home... don't be a day late and dollar short!

View overlooking the North Park neighborhood of  Chicago

Check out more of our North Park neighborhood posts here!