Checking in on Lincoln Park condo unit sales, median prices

I met with contractors yesterday to prep our new Lincoln Park condo listing that's hitting the market next week. Planning with clients and preparing a home for listing on site are the most important and enjoyable parts of my job.  Let's take a look at over-all Lincoln Park condo sales so far this year.

Getting ready for prime time! We met with our clients and created a list of improvements to maximize the appeal and sales price. Then we brought in contractors and help manage the work on site.

Lincoln Park Condo Sales from January 1st to April 14th, 2015

260 condos have closed on the MLS so far this year with a median price of $450,000.  During the same period last year, 237 units closed with a median price around $495,000. The high median is probably a reflection of closings at the very high-end Lincoln Park 2550 luxury tower.

Here's a quick breakdown of condo types this year:
One bedroom condos: 45 units sold with median price of $230,000
Two bedrooms condos: 111 sold with a median price of $400,000
Three bedrooms condos: 82 sold with a median price of $589,500
Four bedrooms or more condos: 16 sold with a median price of $900,000

Get yourself some culture... and a condo!

St. Matthias School Dodge-Ball Fund Raiser Tournament Saturday April 25th... Register your team!

St. Matthias School located at 4910 N Claremont Chicago, IL 60625 in the Lincoln Square neighborhood is hosting an adult dodge-ball fund-raiser April 25th at 5:30pm.  Teams need to register by April 22nd.  Ten person teams (minimum 4 female team members).  Raise some money for the expanding St Matthias School at another fun event!

North Center median price over $1,000,000, construction at breakneck speed

 

New construction on the 3600 block of North Hoyne in North Center

 I was in the North Center neighborhood yesterday prepping a new listing.  We've been monitoring the boom and representing clients in this hot, hot neighborhood for many years. The rate of new house construction this spring is really amazing. The activity is a combination of properties bought and held in 2009-2011 for bargain prices after the crash and now re-developed and more recent "flips" bought at higher current market rates, re-developed and sold quickly.

North Center Closed Single Family Homes January 1st to April 14th, 2015

43 single family homes are recorded as closed this year in our MLS with a median price of over $1.1 million. 24 of the 43 homes closed over $1,000,000.   34 single family homes were closed over the same period in 2014 with a median price of about $935,000. 16 out of the 34 homes sold for a price over $1,000,000. We see a significant jump in median price from the 2011-2012 years to the present.

2013   39 homes closed with a median price of about $995,000
2012   28 homes closed with a median price of about $550,000
2011   33 homes closed with a median price of  about $720,000
2010   26 homes closed with a median price of about $738,000
2009   27 homes closed with a median price of about $720,000

There are currently another 43 single family homes under contract in North Center. 27 of these houses have asking prices above $1,000,000.

Here's a handful of new construction and renovation shots around the West Addison and North Leavitt intersection in North Center. I barely drove a three block radius!

3657 N Leavitt, Chicago, IL 60618 is under contract with an asking price of $2,349,000. The new construction home is on a desirable 40 foot wide corner lot.

Tons of construction activity in the Addison and Leavitt area of North Center.

There are many draws to the area: Leafy tree lined streets, established new construction and renovations, proximity to Roscoe Village and Lincoln Avenue restaurants and shops and three well rated schools in Audubon, Coonley and Bell.

Spring doing its thing in Lincoln Park

Showing property near Schubert and Clark in Lincoln Park. Go spring go!

posted from Bloggeroid

New rental tower nears completion at Chicago and LaSalle in River North

118-128 W Chicago Ave tower looms over the Bush Temple of Music pictured in the front right. Photo Eric Rojas, Broker, Kale Realty

 I snapped a shot of  118-128 West Chicago on the way to the CTA Brown Line just west of here. The elevators were busy at work bringing materials up and down at the new Smithfield Properties rental building.  The location between North Clark and North LaSalle will add units and needed density to a relatively low profile spot just off the action. 

Rental and condo tower construction is at a crazy pace in and around downtown.

Good, short article with graphs on Chicago and city population loss

Photo Eric Rojas, Broker, Kale Realty. Lincoln Park near the Peggy Notebaert Nature Museum

The Corner Side Yard writes on Midwest demographic issues.  Here's a more Chicago specific article on Lincoln Park and city populations.

Montrose Green apartment development zoning change gets Pawar, neighborhood group support

The Montrose Green property at 1819 W Montrose, Chicago IL 60613 site  in Ravenswood adjacent to the Montrose CTA Brown Line station. The property has been owned by a developer since 2006 and used as a community garden and event space. Photo Eric Rojas, Broker, Kale Realty

The Ravenswood Neighbors Association received a letter from 47th Ward Alderman Ameya Pawar stating his support for a zoning change at the Montrose Green development (read letter here). The change will allow more, but smaller, apartment units than the original zoning.

Personally, I think it's great to add more apartment units to a vibrant stretch of Montrose right on the Brown Line.  The one bedrooms are a bit more affordable and promote diversity in housing. West Montrose Avenue between North Damen and North Ashland in the Ravenswood neighborhood has a nice little nightlife and retail scene.  

Many restaurants, bars and shops cluster around the Montrose CTA Brown Line stop providing convenient street life for local residents and easy access for those coming into the neighborhood.

The CTA Montrose stop looking east near dusk

Scot's is a fun, friendly little neighborhood bar.

Of course there is the very popular Fountainhead restaurant and bar on the corner of Montrose and Damen. The roof deck garden is always hoping.... the whole place is usually busy and has great energy.

A quiet moment on a 95 degree day at Fountainhead earlier last summer before the crowds at dusk (Photo Eric Rojas, Real Estate Broker, Kale Realty)

Glen's Diner "all you can eat crab" night is on Tuesdays.  The place was happening.

Even Margie's Candies was doing brisk business and had a full patio at 9:00 PM when I was heading home.



More from Alderman Pawar's letter:

This development will be on the agenda for the Committee on Zoning, Landmarks & Building Standards on April 23, 2015. The meeting will be held at 10am at City Hall (121 N. LaSalle) in the Council Chambers on the second floor. You may attend the meeting to give feedback to the committee or send a letter to the address found below:
Committee on Zoning, Landmarks & Building Standards
City Hall, Room 304
121 N. LaSalle St.
Chicago, IL 60602
I believe that this development is the right fit for the vacant site at 1819 W. Montrose. If you have any questions, please contact my office at 773-868-4747 or email info@chicago47.org.

Water sub-meters for your condo building can save money

A typical three unit condo building in Lincoln Park with a large duplex-down on the first two floors and smaller simplex units above. Typically there is one water meter for the building and the water bill is paid from the Condo Association assessment income. Photo Eric Rojas, Broker, Kale Realty

 The City of Chicago outlines how much your water bill is going up every year.  Here is a great post at The Chicagoland Cooperator that discusses installing water sub-meters at condo and apartment buildings.  There is a good case for both cost savings and conservation.

Turn off the hose!

In other pizza news... Sign goes up at Roots Handmade Pizza and The Sixth cocktail lounge, Lincoln Square

Photo sent to me by super neighbor Brittanie Lindval (send me your Chicago neighborhood scoops to erojas@kalerealty.com or post at my Facebook site https://www.facebook.com/chicagorealestatelocal )

Photo Eric Rojas, Broker, Kale Realty

The long awaited Roots Handmade Pizza 2200 W Lawrence, Chicago IL 60625 in Lincoln Square is taking big strides toward opening.  The distinct restaurant signage arrived this morning on a flat bed truck for installation.  Lawrence Avenue is looking good. The neighborhood abides.

The Sixth Quality Spirits cocktail bar sign goes up too at 2200 W Lawrence Ave at North Leavitt (Photo Eric Rojas, Real Estate Broker, Kale Realty).

The Sixth bar may be the "hotter" opening.

Lincoln Square and North Center of the 47th Ward have burst onto the food scene over the past few years with "buzz" openings like never before. Roots will join an array of popular recent restaurants like Baker Miller, Gather, Elizabeth, Miku Sushi Lounge, Luella's Southern Kitchen just to name a few. Staples such as Brown Trout and Bistro Campagne guarantee a special night out in the 47th Ward.

The new scene on West Lawrence is upon us!

For Sale Now! Lincoln Park duplex at 1637 W Wrightwood Unit 1N, $349,900

There are few better places in the summer than Lincoln Park, Chicago. Own a spacious two bedroom, two bath duplex-down with a true family room just in time for this summer. Two car parking included!

Watch the video!
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The condo is in a small association with low assessment ($165.00) and taxes ($3,828). The private entrance and beautiful single family homes lining Wrightwood Avenue allow for a more "house like" feel.

New for Sale as of Monday April 6th, 2015!  

1637 W Wrightwood 1N, Chicago IL 60614 in Lincoln Park. 

Open kitchen with attractive granite counter tops.

1637 W Wrightwood #1N, Chicago IL 60614 for sale at $349,900
2 beds, 2 baths, 2 car tandem parking!
Two floors with fantastic space for the location and price.
Lower level family room with wet bar.
Large walk-in closets for both bedrooms.
Huge common back yard deck.
Many updates to unit and building.
Small 4 unit building with low, low assessment. 
Drain tile and extra insulation at lower level.
Really cool entry foyer, 20 ft from floor to ceiling!

Huge common deck!

Bright lower level family room with wet bar.

Room for a huge flat screen and poker table!

Main level open floor plan with dining area.

Living room gas fireplace.

The dramatic entry foyer is one of several cool features of the home.

Main floor bathroom.

The Lincoln Park location is surrounded by mostly newer construction single family homes. Attractive Wrightwood Park (with a pool, track, basketball courts etc...) is a block to the east.  Easy to boutique shops, bars and services up and down West Wrightwood and West Fullerton. 

Listed by Eric Rojas and Robert DePalma, Kale Realty
542 W Roosevelt Road,
Chicago IL 60607
773-510-1597

Pre-approved buyers please.  If you are working with an agent have them contact us direct. Or better yet, just work with us.