Land ho! A look at Lincoln Square residential lot prices

A "tear down" in Lincoln Square's Bowmanville neighborhood.  Many neighbors share with me they are still surprised by how many homes (including some decent properties) are torn down to build new.

I posted yesterday that a 40'x125' vacant lot in North Center's Bell School district sold for $900,000.  This prompted a friend on Facebook to ask "What's an average Lincoln Square lot go for?"  Let's take a look at some recent residential vacant lot and "tear down" sales to get a feel. 

A standard residential lot in Chicago is 25'x125'.  The average standard residential lot sold for development in Lincoln Square (all things being equal) goes for about $400,000.  Standard lot new construction homes in Lincoln Square sell for about $1,200,000 give or take . The most desirable areas in Lincoln Square will get a bit more than $400K while some areas further out of the center get less money.

30 foot plus wide lots in Lincoln Square receive considerably more money.

For example 4957 N Hoyne Ave, Chicago, Illinois 60625 sold for $419,000. It's a standard 25'x125' lot two doors down from Winnemac Park and fairly close to lots of local retail and transportation options. A frame two-flat was torn down to build a new single family home (now almost completed). 
A little north in the neighborhood 5149 N Oakley (a standard 25'x125' lot on an alley near West Foster Avenue) was sold for development at $396,875.

No actual residential vacant lots were sold (closed) on the MLS in the past 12 months. However I'm familiar with a few vacant side-lots that owners sold in the last 12 months "off MLS".  There are very few vacant residential lots in around Lincoln Square.

In the past 12 months only three residential lots were listed in the "land category" and all three listings had an existing structure on the property.  These properties were listed be bought for tear-down and new construction.

• 2533 West Winona St, Chicago, Illinois 60625 sold on a short 25'x125' lot sold for $260,000.  This western Lincoln Square location is a bargain compared to getting just east of Western Avenue.
• 2117 West Eastwood Ave, Chicago, Illinois 60625 on a coveted 37'x 122' lot sold for $675,000. The property bought for development is in the most desirable area of Lincoln Square near The Lycee Francais de Chicago and steps from the retail center. A luxury new build on the lot may catch up to $2.1 million depending on finish level.
• 2027 West Giddings St, Chicago, Illinois 60625 also a 37'x122' lot on a top block near the heart of Lincoln Square retail sold for $680,000. This was also purchased by a developer to build a new house.
  

Probably the highest price tear-down sale in Lincoln Square in the last 12 months (and one of the more saddening) was 2136 W Agatite Ave, Chicago, Illinois 60625 for $742,500.  The attractive frame home on a 37'x122' lot had that quintessential neighborly appeal on a primo block steps from Welles Park.  It has since been torn down for a new build house.

Contact us to buy and sell properties in Lincoln Square, North Side and near Chicagoland suburbs both on and off the MLS.  Make it your next home, investment or development.

Lincoln Square home sales January through July 2014: Unit sales down, prices stable

Attractive landscaping on North Bell in Lincoln Square (ALL photos Eric Rojas, Broker, Kale Realty)

I took a few photos last week in the Lincoln Square area near Winnemac Park.  There has been low inventory of single family homes for a couple years.  But, there are still many new and ongoing projects that remind us of the swift sales and big investment in Lincoln Square housing.

A gut renovation and expansion of a home near Winnemac Park is ongoing.  The existing property was bought by a developer to renovate and sell.

Lincoln Square single family home sales January 1st - August 1st (a Friday) 2014

Unit sales were down year over year from 2013.  But inventory is low and competition fierce for available houses priced for this market.

54 single family homes have been sold in Lincoln Square  community area so far this year (Jan 1st to August 1st).  The median price for the Lincoln Square area is about $550,000.  71 homes sold over the same period in 2013 with a median price of about $545,000.

The highest MLS recorded sale this year in Lincoln Square is 2015 W Giddings for $1,945,000.  The new construction luxury home is built on a 37 ft wide lot.

The lowest MLS recorded sale is 2220 W Foster for $258,100.  The foreclosure home is located on busy West Foster and needs complete renovation or tear-down.

A large new construction home being built at Ainslie and Bell west of Western Avenue in Lincoln Square.  The previous property was bought at $450,000.

Under Contract!

16 homes are currently listed under contract on the MLS with asking prices from $250,000 to $1,649,900

Homes east and west of Western Avenue in Lincoln Square

34 of the homes closed east of Western Avenue in Lincoln Square with a median price of about $650,000.  18 homes closed west of Western Avenue with a median of $495,000.

 
We've been buying, selling and renting homes in Lincoln Square for almost 10 years.  Call us to make a move.  All stats gathered and analyzed by Eric Rojas, Real Estate Broker, Kale Realty from MREDLLC.com.

Sales! Lincoln Square condo sales looking up, inventory down

Suddenly the condo market inventory in Lincoln Square is tight with many units under contract at the moment.  There are a handful of new construction projects popping up.  Let's look at the sales numbers for 2013 thus far:

Farmers Market at Leland and Lincoln (Photo, Eric Rojas)

Lincoln Square Condo Sales Jan 1st through May 28th, 2013

105 condos (attached units, town houses) sold and closed thus far. This is up a little from the 93 units sold same time last year.  The median price of a condo is about $225,000 for the greater Lincoln Square community area this year.  Median price is up from the $212,000 about this time last year. The prices are generally higher in the southern locations and lower in the northwestern portions of the large community area.

The lowest sale is $25,000 for 2401 W Balmoral... a studio apartment in a former defunct condo conversion project.

The highest sale this year for an attached unit is 2002 W Sunnyside for $615,000. The four bedrooms row house/ town house offered newer construction with a single family feel.

Under Contract

It feels like all Lincoln Square condos are under contract.  There are 95 condos under contract at the moment with only 64 units actively for sale.  Asking prices for units under contract range from $45,000 to $575,000.  The median asking price of a condo under contract is $250,000.

264 condos closed in Lincoln Square in all of 2012.  I think we will surpass that number in 2013.  At the moment, about 199 condos are closed or under contract with 6 months to go in the year.

Dining in Giddings Plaza, Lincoln Square (Photo, Eric Rojas)

We've represented many condo buyer's and sellers in Lincoln Square. It is a relatively sleepy condo market.  There are much fewer units in general than a Lakeview or Lincoln Park while new construction and gut rehab projects have been virtually non-existent since the 2008 financial crash.

Prior to that, you would mostly see new construction built on the major streets of Lincoln, Western, Damen and Lawrence from 2000-2008. The residential streets have almost exclusively vintage gut-rehabs with 2 bedroom,  1 bath condos.  Very few three to six unit new construction buildings can be found in all of Lincoln Square despite the abundance of these buildings in Lakeview and Lincoln Square.

It pays to be prepared for the small number of excellent condo homes that do hit the market.

You asked for it! Lincoln Square single family home sales 2018

Our listing at 5043 N Oakley in Lincoln Square asking $599,900 is under contract and pending closing in early October.

Most early mornings I walk my kids to school and then run errands around Lincoln Square. A neighbor, homeowner and friend asked me during my walk yesterday how the Lincoln Square house market is doing.  Well, here you go Tom!

Lincoln Square single family home sales 2018

From January 1st to September 14th this year, 110 single family homes have sold.  The median price of a sold house is $660,000.  The highest priced sold home is 2121 West Eastwood, Chicago IL 60625 for $1,917,000.  The new construction house features six total bedrooms, six full baths and two half-baths (eight toilets!).  5544 North California Avenue, Chicago IL 60625 for $259,000.  The two bedrooms, one bath raised ranch resides on a busy stretch in Budlong Woods area of Lincoln Square. Nice deal!

- 104 homes sold over the same period last year with a median price of about $692,000.
- Over the same period of 2016, 79 homes sold with a median price of about $655,000
- Same period 2015, 95 homes sold with a median price of $675,000
 Median price has bounced around a bit staying within $40,000 of the high point over four years.  Unit sales have generally gone up.

Check out one of our recent sales steps from Winnemac Park with some drone footage.

Single family home sales around Winnemac Park  in Lincoln Square

The residential neighborhood around Winnemac Park shown above is popular for its housing stock, community activities and transportation options. The Winnemac Park area of Lincoln Square sales have been strong (North Ravenswood to North Western and West Lawrence to West Foster). 

Tom was really asking how are home sales in OUR area doing. The Winnemac Park area of Lincoln Square sales have been strong (North Ravenswood to North Western and West Lawrence to West Foster).  From January 1st to September 14th this year, 17 single family homes have sold with a median price of $850,000 in this footprint.  

We sold this Lincoln Square home last year.  Only a couple blocks from Winnemac Park.

In all of 2017,  28 single family homes sold in the Winnemac Park sales area (shown above) with median price of $755,000.  It looks like median price in 2018 will be up for homes surrounding Winnemac Park while unit sales will be down a few. Four homes are currently under contract around the park.

Lincoln Square condo unit sales down, asking prices up

I evaluated a potential new Lincoln Square condo listing last week.  We price homes based on the specific unit and the goals of the seller.  However, here's an overview of general Lincoln Square condo sales activity so far this year.  Like many areas on the north side inventory is lower and asking prices are up.

New construction made the scene in Lincoln Square this year (ALL Photos Eric Rojas, Broker, Kale Realty)

Lincoln Square condo sales January 1st to June 11th, 2014
98 condos (including attached town houses) have closed this year Jan 1st through June 11th.  The median price of a condo is $225,000.  129 condos closed over the same period in 2013 with a median price about $230,000.

The condo market has been good for Lincoln Square sellers.  Buyers have seen new construction make it's biggest showing in many years.  Several multi-unit higher-end condo buildings have either been completed this year or have current pending units under contract while under construction.

East of Western Avenue
A common request we get from Lincoln Square buyer clients is "I want a condo east of Western Avenue".  These tend to be closer to downtown and feature locations with lots of amenities/ entertainment.  33 units closed east of Western Avenue over this period with  median price of $227,000.  The highest sale was $605,000.

The price jumps for three bedroom condos east of Western Avenue.  The median price is $429,000.

Out and about in "the Square"!

Lincoln Square closed units same period  2009-2013
129 closed units in 2013
114 closed units in 2012
111 closed units in 2011
136 closed units in 2010
90 closed units in 2009


Under Contract, Available
As we speak there are 109 attached condos under contract.  The median asking price of under contract homes is $315,000.  100 condos are actively listed for sale. 

Call us to buy or sell your next Lincoln Square condo!  

Market stats gathered gathered from MREDLLC.com... evaluation and opinion Eric Rojas!

Lincoln Square condo unit sales up 18%, prices up in 2013

Bob and I were getting top dollar for our Lincoln Square condo listings when it wasn't in vogue to buy or sell over the last few years LOL.  Can I still use LOL?  Anyway, let's look at Lincoln Square condo sales now that things have been hot hot hot for awhile.

Photo Eric Rojas

Lincoln Square condo sales for 2013 (Jan 1st to August 11th)

196 condos have closed to date in Lincoln Square in 2013, up from 165 (18%) sold same period 2012. The median price is a mere $240,000. That's also up a bit from $220,000 last year (and a good $100K less than the neighboring Community Areas of Northcenter and Lakeview). 

Median price in Lincoln Square is a little deceiving.  The top shelf locations sell for dramatically more than the further northwest locations in the Lincoln Square Community Area.  In Lakeview and Lincoln Park for example top tier condo prices are fairly spread out amongst the entire Community Areas.  There is also a less diverse condo product in Lincoln Square than in Lakeview or Lincoln Park.

The vast majority of condos in Lincoln Square are 2 beds, 1 baths in vintage converted buildings.

Sales statistics gathered from MREDLLC.com and analyzed by Eric Rojas, Real Estate Broker.

Lincoln Square single family homes for sale and under contract

We are very active brokers and residents of Lincoln Square. Many people ask us for information about houses and if "we have clients that will be listing their house soon".  Home buyers are trying to get any edge they can. This is the type of value we add to our clients' home search in addition to home owning advice and service referrals on an ongoing basis.

Lincoln Square inventory is tight.  However, there seemed to be a little jump in listed homes for sale in the Lincoln Square area over the past 30 days.  Most of these new listings are in the $600,000 - $1,000,000 range.  When we checked in mid- July there were 20 active home listings in Lincoln Square. 

Current new construction on North Leavitt near West Windsor in Lincoln Square

Active Homes for sale

Today, there are only 19 homes listed for sale in the MLS. Several of the newest listings were snapped up in a weeks time keeping the number low. The prices of active homes for sale range from about $230,000 for a dated house on the 2600 block of West Foster Ave to $1,700,000 for proposed new construction on a 37' x 125' lot in a prime West Sunnyside Ave location. 

The locations and prices vary greatly and are spread out from the more central district at 4400 West Montrose on the southern border to the 5500 North block at the northern border.  The area between West Montrose and West Lawrence Avenues and North Damen and North Western Avenues is generally the priciest in Lincoln Square.

This central retail and transportation district of Lincoln Square is the priciest.  Land for a standard lot (tear down property) can start at $450,000.  Push north of West Foster Avenue in pleasant Bowmanville and land is about $250,000 for a standard lot this year.

Under contract in the last 30 days (July 19th to August 19th)

An impressive 16 Lincoln Square homes have gone under contract from July 19th to August 19th in our MLS.  This is often a seasonably slower time for contracts due to summer vacations.  The median asking price of homes under contract is just over $630,000. 7 of these homes are listed at $800,000 or more.

Are Lincoln Square two-flat sales dead? Long live Lincoln Square two-flats!

Lincoln Square was once filled with families living in two-and three flat multi-unit buildings (often just referred to as a "two-flat").  It was common for immediate families or "owner-operators" to live in these multi-apartment arrangements for most of the 20th century.  Near the turn of the century (2000) highest and best use for these properties overwhelmingly became single family home conversions.  Multi-unit sales were brisk over the last decade from 2000-2008 and these buildings were quickly converted to luxury houses by their owners or by developers.

An exceptional multi-unit in Lincoln Square (Photo Eric Rojas)

It feels like 2013 has been a slow year for multi-unit sales.  Let's check the MLS data for Lincoln Square multi-units (two-four units).

Lincoln Square multi-unit sales January 1st to September 3rd 2013

38 multi-unit buildings (two to four flats) have sold this year. The median price is $500,000.
40 sold same period last year with a median of $379,000. So, while unit sales are about EVEN, the median price for these types of properties has gone UP. 

While personally looking at the buildings sold this year I noticed several "move in ready" two-flat buildings with well finished "owners units" had sold for well over $600,000 and $700,000.  This reflects the tight market for single family houses.  Sellers put their nice buildings on the market for top dollar while buyers shut out of the single family home market looked for new options.  The cost for "development" properties has gone up too (properties needing tear down or complete rehab).  These factors have raised median price.

Lincoln Square Multi-Unit sales have steadily risen since 2009 (the year after the financial crash).  Of course, not all of these buildings are converted and many still remain investments or "owner operators".
31 sold in 2011
24 sold in 2010
19 sold in 2009

I wonder if I'll still be on this planet when the last of these small multi-unit dwellings is converted to a house!  MORE LINCOLN SQUARE HERE

All sales data gathered from MREDLLC.com and analyzed by Eric Rojas Real Estate Broker with Kale Realty.  These numbers are approximates.  Call us to find Lincoln Square multi-units or for consultation on your property sale.

Lincoln Square, Ravenswood pending contracts...Bueller? Bueller?

Please note that I combine the community area of Lincoln Square with the sub-neighborhood of Ravenswood together in my sales analysis. Ravenswood officially overlaps into the Uptown community area east of North Ravenswood Avenue (1800 N ). However, for practical purposes I group everything west of North Ashland Avenue (a busy four lane artery street) and North of Montrose Avenue with the Lincoln Square community area.

With the passing of the original deadline for the first-time buyer's credit behind us, I thought I'd take a look at the current number of pending and contingent (under contract) condo units and single family homes in greater Lincoln Square and Ravenswood. We saw a large increase in closed unit sales for October and November compared to the same months of 2008 due to several factors I've discussed on these pages. Of course, fall 2008 had that little banking crash too. Regardless of the current pending contracts (most of which will close next year) we will have seen a better than average activity in the fourth quarter 2009 at years end.

Currently, there are 30 condos and or town home units under contract in the greater Lincoln Square community area with a median asking price of $249,000 (this includes the Ravenswood neighborhood bordering North Ashland and portions of Bud Long Woods neighborhood to the northwest). The median price is deceiving as it reflects a very diverse stock of homes within the large community.

The highest priced attached unit is 2326 W Giddings #305, a two bedrooms, two bathrooms new construction condo under contract for (gulp!) $509,900 plus parking. There is a home sale contingency on the deal... so they are waiting patiently to close that. It's probably the southeast top floor unit (I should check on that, eh?). [This just in from Fountain View's developer on 1/4/09, the #305 unit under contract is a third floor middle unit and #205 is recently under contract for $499,000]. The unit is in the Fountain View development in the heart of Lincoln Square retail and entertainment.

On the flip side, the bottom four condos under contract are all distressed one bedroom units in the 2400-2405 block of W Balmoral (three i the same condo building)in northwest Lincoln Square for under $50,000. Yep. A tale of two cities for sure.

Only ten single family homes are under contract in the Lincoln Square community area (including the Ravenswood neighborhood from North Ashland going west). Most interesting is the fact that four of those homes are under contract for over one million ($1,195,000 to $1,375,000) and spread out from north to south across Ravenswood and Lincoln Square proper. One of the homes is a short sale at $1,359,000.

The bottom five out of six home sales in price are either bank owned, forced sale or short sales ranging from $234,900 to $650,000. Absent is any home under contract between the price of $650,000 to $1,195,000.

So, if you have an $800,000 home, maybe you should get it on the market.

Data aquired and analyzed from Midwest Real Estate Data LLC in which I am a paying member of (our local MLS).

Early returns: Lincoln Square condo sales thus far in 2016

A deck at 5067 N Lincoln Ave in Lincoln Square. We sold the newer construction condo unit in 2014... watch the video!

We recently held a packed open house at 4949 N Lincoln Avenue in Lincoln Square signaling a lot of interest in the area this spring.  Let's see how early condo sales are doing.

Lincoln Square condo sales Jan 1st to March 18th, 2016
29 attached units (condos, town homes) have sold thus far in Lincoln Square 2016.  The median price is about $265,000.  The lowest sale price is a garden apartment unit for $114,000 at 5225 N Hoyne Unit G.  The highest priced sale is $650,000 at 4826 N Damen Ave Unit 3, Chicago, Illinois 60625.  The large penthouse unit has always been a perennial top price selling condo in Lincoln Square since construction.

Over the same period in 2015 (Jan 1st to March 18th) 42 attached units closed with a median price of about $250,000.  For all of 2015, (352) condo units sold with a median price about $250,000.  Higher list prices and relatively low inventory have slowed over-all unit sales as the bottom of the market has really cleared out.  Expect a little higher Lincoln Square prices this year with more new construction and retail development coming.

Several new condo buildings are in development in Lincoln Square and will add approximately 40 units of higher-end sales for 2016.

First Lincoln Square condo sells for over $1M (but median price for attached units slips)

 

A top floor unit at 4854 N Damen in Chicago's Lincoln Square neighborhood has sold for $1,057,000. It appears to be a record price. Photo Realtor.com and VHT.com

Last week I looked at Lincoln Square condo sales specifically on North Western Avenue.  I buried the lead! An attached condo sold for $1M for the first time in Lincoln Square. There had been a couple new construction units closed at $940,000 in 2021 (the precious record) but nothing over a million until this summer.

4854 N Damen Unit 3, Chicago IL 60625 sold for $1,057,000 earlier this year. The "duplex-up" penthouse features a 2nd floor family room and amazing walk-out terrace. It appears to be a record price sale for any attached unit (condo, townhouse) listed on the MLS in Lincoln Square. Despite the milestone, overall median price of a sold attached unit decreased 3.5% year over year. This could be due to high mortgage interest rates putting pressure on overall pricing or simply lower-end options becoming more readily available on the market.

Lincoln Square Condo Sales
Overall 240 attached units (condo and townhouse) have sold in Lincoln Square from January 1st to December 6th this year. The median price of a sold attached unit is about $351,000. Attached units with two bedrooms have a median of $320,000.  Units with three beds have a median of  $570K.

Surprisingly the median price for a sold Lincoln Square attached unit dropped 3.5% year to year from $364,000 in 2023 to $351,000 in 2024.  Median price for an attached unit same period in 2022 was $315,000 and $308,000 in 2021.

Eric Rojas, Broker

Chicago Real Estate Broker with Kale Realty

Over $100M sold! Have a question... ask Eric!

Kale Realty 2447 N Ashland, Chicago IL 60614 in Lincoln Park

Illinois Licensed Real Estate Broker No. 475.126105

Fair Housing Opportunity

erojas@kalerealty.com

PH: 773-510-1597

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Video! Lincoln Square Chicago bungalow under contract!

2227 West Carmen, Chicago IL 60625 for sale $539,900

Check out the Winnemac Park and neighborhood footage we filmed near 2227 West Carmen.  The classic Chicago bungalow is under contract (asking price is $519,900). The house is just steps from popular Winnemac Park. The median price of a house in all of Lincoln Square is $687,000 and $755,000 within four blocks Winnemac Park.  This house is a great value!

We love helping our clients buy and sell in Lincoln Square and few have filmed and promoted the real estate market more than we have over the past 13 years! Watch the great aerial video of the park by Lincoln Square resident Parkwest Media

More photos, floor-plan and property information here.

Lincoln Square single family home sales
132 Lincoln Square community area homes sold in 2017 with a median price of $687,000. Just five years ago in 2012, 98 single family homes sold in all of Lincoln Square with a median price of $480,000.

28 single family homes sold in the Winnemac Park sales area (shown below where 2227 W Carmen is located) with a premium median price of $755,000.

The residential neighborhood around Winnemac Park shown above is popular for its housing stock, community activities and transportation options.  I often dial down to look at micro real estate markets around parks and transportation hubs.

Please contact us to buy and sell property in Lincoln Square, North Side neighborhoods and near suburbs!

Pandemic proof? Lincoln Square home sales 2020 (highest sale $3,250,000)

 

A certainly charming but modest home for Lincoln Square standards these days.  The median price of sold Lincoln Square single family home for the first three quarters of 2020 is $740,000. All photos Eric Rojas, Broker, Kale Realty

We love Lincoln Square homes.  And... so did the Chicago market. Despite the pandemic almost the same number of Lincoln Square homes have sold this year as the same period of 2019. Median price this year is up slightly over last year.

Lincoln Square single family home sales 2020 (January 1st to September 30th)

81 single family homes have closed in the first three quarters of 2020.  The median price of a sold home is $740,000.  88 homes closed over the same period of 2019 with a median price of $725,000.

The highest priced sold house this year is 4431 N Hamilton Ave, Chicago IL 60625 for $3,250,000. The new construction house sits on a 37' wide x 178' long lot in the heart of Lincoln Square. This is only the 2nd home sale recorded in the MLS for over $3M in Lincoln Square since 2016 and probably only the 2nd ever (maybe a non-listed home traded for this amount over the years). Both were on single 37' wide lots and over 175' deep. I predict a handful of private built homes over the last few years will surely break the $3.5M mark whenever they come on the market.

The lowest priced sold home is a small frame house at 2154 West Foster, Chicago IL 60625 for $275,000. That's a pretty good deal for a popular area across from Winnemac Park. No construction permits have been issued yet but a zoning change to build a new construction three flat is likely. 

2154 West Foster (center). The vintage frame single family home sold for $275K and will most likely be replaced by a new construction three-flat. You can see a new 3-flat under construction to the far right of the photo.

Lincoln Square median home prices just took a big jump (34%)

A beautiful stretch of West Giddings Street in Lincoln Square early May (all photos Eric Rojas, Broker, Kale Realty

Having lived in and near Chicago's Lincoln Square for more than three decades, I’ve witnessed its evolution firsthand. While the neighborhood's retail and demographic history is a story in itself, what stands out most is the dramatic surge in single-family home prices. It’s a trend I experience yearly, yet the sheer scale of the increase continues to astonish both me and my longtime neighbors.

All charts generated with Google Gemini by Eric Rojas, Broker, Kale Realty. Sales data  MREDLLC.com

Over same period of January 1s to May 1st, Lincoln Square single family home median price has increased $950,000 to about $1.3M (almost a 34% increase year over year!). This is the biggest jump we've seen over the past seven years by far. My guess is it will hold up by year's end.

Lincoln Square single family home sales January 1st to May 1st

As mentioned above year over year median price has jumped 34%.

Back in 2019, 36 single family homes closed on the MLS from January 1st to May 1st.  The median price of a sold home was about $685,000. The highest priced closed home was 2156 W Windsor Avenue for $2,529,900 (37' x 124' lot size).

In 2026, 19 single family homes closed over the same period with a median sold price of about $1,280,000.  The highest priced sold home so far this year is 2034 W Sunnyside Avenue at $3,375,000 (34' x 133' lot size). 

The median price of a Lincoln Square single family home has risen 86% same period year over year from 2019 to 2026.

Total homes sold and approximate median price in Lincoln Square year over year 

• 2019: 109 homes sold with a median price of $725,000
• 2020: 117 homes sold with a median price of $775,000
• 2021:  43 homes sold with a median price of $820,000
• 2022: 139 homes sold with a median price of $837,000
• 2023: 85 homes sold with a median price of $985,000
• 2024: 107 homes sold with a median price of $1,020,000
• 2025: 80 homes sold with a median price of $1,056,000
• 2026: 36 homes sold with a median price of $1,280,000 (through May 1st)

New construction speculation homes in Lincoln Square continue to push price records. In 2026 so far one home has closed over $3M with three more under contract. This will make it a record year with seven months to go. 

Out of 80 homes sold over 2025, eight homes were sold over $2 million and two homes were sold over $3 million.  In 2024, eight homes sold for over $2 million with one over $3 million. In 2023 only four homes sold for over $2 million and none over 3 million. We also see smaller lot homes (37'x123) achieve over $3M in 2026. In the past the homes selling over $2M and $3M were on larger double lots (50' wide)  or wide and longer (175' long as opposed to standard 125' long). This year we already have a $3M sale on a 37'x123' lot.  

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

Lincoln Square single family home unit sales up 35%, median price up $100,000 over 2020

Lincoln Square features a mix of original farm houses and $2M plus new construction homes. This charming home sits near West Leland and North Seeley in the heart of Lincoln Square. All photos Eric Rojas, Broker, Kale Realty

Fall season is in full swing! I love researching, viewing and selling homes during this time of year.  Let's take a look at over-all single family home sales in Lincoln Square this year (Jan 1st-Nov 1st, 2021)

 

- Single family home sales are up over 35% year to year and median price is up $100,000.

- 125 single family homes have closed from January 1st to November 1st, 2021. The median sales price of a Lincoln Square home this year is $850,000. 

- The highest priced sold home is 2130 W Agatite, Chicago IL 60625 for $2,625,000.  The 2017 built home is a re-sale on a desirable residential block near Welles Park.

- The lowest priced sold home is 2154 West Foster for $280,000.  The small frame home is located on a busy street and needs rehab.  A real estate company is the new owner but no permits have been pulled to date.

New construction sales were back in force over 2021 with many new single family homes currently permitted and under construction (new home under construction early this year on the 2100 block of West Berwyn in the Bowmanville neighborhood of Lincoln Square).

Lincoln Square home sales (January 1st-Nov 1st) over the past several years

2021:  125 single family homes sold, median price $850,000

2020:  92 single family homes sold, median price $749,900

2019:  93 single family homes sold, median price  $712,5000

2018:  123 single family homes sold, median price $645,000

2017:  119 single family homes sold, median price $688,000

2016:  91 single family homes sold, median price $660,000

We have bought and sold many Lincoln Square single family homes, condos and multi-units over the past 15 years. We often find pre-MLS and off market opportunities for our clients.  

Contact us at erojas@kalerealty.com

Lincoln Square condo unit sales down in first quarter 2014

The successful luxury new construction condo development at 4935-4945 N Damen rides the wave of positive Lincoln Square condo sales. The first two buildings are almost sold out and a third new construction building is under way. Photo Eric Rojas, Broker, Kale Realty

38 condo units have sold in Lincoln Square over the first quarter of 2014 (January 1st through March 31st).   The median price of a condo was just $195,000.  52 condos closed first quarter in 2013 with a median price at $195,000 as well.  The lower numbers from last year reflects we've worked through many of the foreclosed and short-sale cheap units at former busted condo developments.

The relatively low median price of condos in popular Lincoln Square is due to many former busted condo developments selling off.  The area just west of Western Avenue and North of Foster Avenue in Lincoln Square had many defunct conversion projects.  Condos east of Western Avenue and south of Foster Avenue sell at higher prices.

We listed and sold 1970 W Winnemac at the end of last year.  The 2 bedrooms, 2 baths home sold for $300K with rental garage parking available. Photo by www.Photolightchicago.com

The lower unit sales does not reflect a weaker market for condos this year.  Quality re-sale condos are hitting the market and selling at higher prices than in the mortgage crash years.  New construction condos are in demand and being built and sold. However, inventory in the more popular areas of Lincoln Square is simply low and there are less super cheap foreclosures and short-sales available for investors.


 Lincoln Square first quarter condo sales
2014:  38 condos sold with a median price of about $195,000
2013:  52 condos sold with a median price of about $195,000
2012:  39 condos sold with a median price of about $150,000
2011:  48 condos sold with a median price of about $109,000
2010:  48 condos sold with a median price of about $255,000
2009:  28 condos sold with a median price of about $269,000

 Call us to buy, sell and rent Lincoln Square condos

Sales statistics gathered and analyzed by Eric Rojas, Broker, Kale Realty from MREDLLC.com

The $500,000 Lincoln Square house

This "vanilla box" rehab offers 4 bedrooms, three baths, garage, deck and yard, cenral air and laundry room for $499,000 in a nice location of Lincoln Square. Finishes are cheap, but it's a nice clean, big house.

Last weekend after "The Storm" I was out showing Lincoln Square single family homes in the $500,000 range... give or take $50K. We focused on east of Western Avenue with a reasonable ability to get to the Ravenswood Metra or Brown Line when needed. My clients can drive to work now, but may need the Metra in a couple years.

This is no small task at $500,000 depending on the buyer's expectations. You can find a pretty nice, newly remodeled house in the Bowmanville section of Lincoln Square just north of Foster Avenue for $500,000(ish). That would afford three true bedrooms, two or more nice baths and finished basement living space. South of Foster Avenue and closer to transit gets a little tougher in the Ravenswood neighborhood of Lincoln Square and will take sacrifices in material finish level and size of the home. However, there are still solid opportunities at this price-point south of Foster Avenue for $500,000. Several homes sold last fall under $500,000 that were very nice but on the small side or needed a savvy sense for home improvement.

That said, if you can spend up to $500,000 on your home purchase you should be looking for a house or two-flat with me now in the Lincoln Square area. We will see the best variety of properties in the next few months hitting the market and it's a great area to live!

Perhaps the Bowmanville neighborhood of Lincoln Square?

Read more Lincoln Square posts here!

Bring the kids and buy a house in Lincoln Square

Lincoln Square is a great place to raise a family. The Lincoln Square Chamber of Commerce, the 47th Ward Alderman's office, the Park District amenities, huge parks school options... these are several reasons to call Lincoln Square home.

Today my family enjoyed the afternoon at Kids in the Square pictured above. It's a free event sponsored by the Lincoln Square Chamber of Commerce...and much needed after the rainy April we've had. The weather cleared up and families really came out to enjoy the day, shop at the local boutiques and eat at the many local restaurants.

There are many terrific move-in condition single family home options in Lincoln Square under $500,000 these days. The neighborhood also features many gracious and luxury options up to $2,000,000.

Check out our single family home listing below at 2164 W Leland asking $799,000... just one block from the heart of Lincoln Square shopping and dining.

View more photos and listing details of 2164 W Leland HERE at Rubloff.com

Lincoln Square bungalow property sold for $1,090,000, demolished to build two new houses

A Chicago bungalow was demolished in Lincoln Square just before the holiday at 4834 N Leavitt. I took this photo when only the sun room portion was left standing. The bungalow and vacant side lot measuring a total 60'x124' were sold for $1,090,000 to develop two new houses. All photos Eric Rojas, Broker, Kale Realty

Early last year a desirable double lot property at 4832-34 North Leavitt Chicago IL 606025 in Lincoln Square sold for $1,090,000 (according to public records). According to the MLS listing each lot measured about 30' wide and 124' long. That's $124.00 a square foot for the land... $545,000 per lot! 

Photos of the original house I took in 2013.

I did a quick post about the property back in 2013 due to its large side yard and sprawling gardens. There are very few vacant residential lots hanging around Lincoln Square. Several properties with side lots have recently sold for development ( 2438 West Carmen for example ) and one triple lot is currently for sale ( 2610 West Winona ). Occasionally a high-end home owner will acquire a home next door and tear it down for a side yard.  

Sales around Winnemac Park

Sales around Winnemac Park and 4832-4834 N Leavitt

The property is a short walk to Lincoln Square restaurants, CTA Brown Line and Winnemac Park. The median price of a single family home in the neighborhood surrounding Winnemac Park over 2019 was about $750,000. 

I've walked and/or driven by the property over a hundred times. The garden was often my first site of spring. 

The vacant side lot existed as a large garden for decades. Vacant side lots don't last forever in bustling areas like Lincoln Square.

The lowest priced single family home to sell was 4807 N Seeley for $405,000. The property lot measured 25'x122' and the small house was torn down to build a new house. The highest sold home in the immediate area around Winnemac Park was 4918 N Seeley for $1,340,000.  The new construction home was built on a 26'x122' lot.  

Contact us to buy and sell homes in Lincoln Square, the North Side and near suburbs.