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 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 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.

Lincoln Square million dollar home sales

In Lincoln Square from January to August 1st 2011, there have been 5 homes sold over $1,000,000 (one million) and 2 homes currently under contract well over $1,000,000.

I have been writing about gut renovation and new construction opportunities (for primary residences and for retail market) on the rise in Lincoln Square from spring 2010 to the present. The 2008 financial crash had really halted any higher end development or sales for a year. However, buyers are now buying "tear-down" and antiquated homes it seems at a greater pace and improving them with renovations or flat out new construction. Land is more affordable too.

Let's see if this increased activity has impacted the number of million dollar home sales in the Lincoln Square community area. In my opinion the Lincoln Square area has been attracting a steady number of affluent home owners despite the the over-all pressure on lower real estate prices and flat economy.

Lincoln Square Million Dollar Home Sales January 1st-August 1st:

2011 = 5
2010 = 6
2009 = 0
2008 = 5
2007 = 7
2006 = 10
2005 = 5

The recent million dollar home sales are fairly evenly distributed between infill construction (tear down and build new) and luxury re-sale homes.

We can see the spike at the peak years of 2006-2007, the impact of the financial crash in 2009 and a settling perhaps over the last two years. The average number of one million dollar home sales in Lincoln Square over the last 7 years January through August is about 5 a year.

Oof! Lincoln Square single family home sales way down last 30 days and Q1 (year to year)

At the beginning of the year I noticed a good amount of new construction projects around Lincoln Square. A frame home at 4841 N Oakley was sold in 2019 for $405,000. A decent deal for the location and a standard 25'x124' lot. A new construction single family home is being built (above). All photos Eric Rojas, Broker, Kale Realty

I look at all kinds of sales numbers around the markets we work in.  We are now a good 30 days into the pandemic and a few weeks into the shelter-in-place order for Chicago. I was curious to see how many sales made "the cut" before the outbreak.  My guess was unit sales may slow due to the lack of inventory and the slow start in contracts. I didn't know how slow. 

Unit sales are down in Lincoln Square significantly year to year from March 13th to April 13th.  Only four single family homes closed in the last 30 days of spring market. Fourteen single family homes closed over the same period in 2019. Since 2014 home sales in the third month of the year have been fairly consistent. 2009-2013 lower unit sales were most likely influenced by the 2008-2009 financial markets and mortgage crash. Once the mess cleared out unit sales and prices had mostly gone up in Lincoln Square.

Closed single family homes March 13th - April 13th
2020: 4 closed homes
2019: 14 homes closed
2018: 15 homes closed
2017: 17 homes closed
2016: 8 homes closed
2015: 14 homes closed
2014: 7 homes closed
2013: 1 home closed
2012: 12 homes closed
2011: 3 homes closed
2010: 3 homes closed
2009: 5 homes closed

A two-flat conversion to single family home in the works. 2115 West Sunnyside (situated on a 37'x125' lot sold early 2019 for $730,000. 

Lincoln Square 2020 Q1 Single Family Home Sales
First quarter homes sales are down in 2020. Twelve homes sold Q1 of 2020 with a median price of about $925,000. That's a big median price for Q1 homes and is reflected in the mostly higher asking prices and lower unit sales numbers we witnessed during the start of this year.
2019 nineteen homes closed with a median price of $740,000.
2018 twenty-five homes closed with a median price of $650,000
2017 twenty-eight homes closed with a median price of $815,000
2016 twelve homes closed with a median price of about $525,000.

Under Contract
Eleven homes are currently under contract with a median asking price of  about $625,000. Sales and median price will tail off for the remainder of the year.  I'm not sure we will see a bump due to pent up demand by the end of this calendar year.

Lincoln Square single family home and multi-unit sales 2015

Walk over from your house and get your holiday on at "Giddings Plaza".

We're nearing year's end.  Let's take a look Lincoln Square single family home and multi-unit sales.  Hint: Houses have gotten expensive.

Lincoln Square Single Family Home Sales January 1st to December 4th, 2015

Large, new construction is a common site in Lincoln Square, particularly between West Montrose and West Foster, east of Western.

118 single family homes have sold thus far in 2015 with a median price of about $700,000.  The most expensive sale recorded in the MLS is 2026 W Wilson Ave, Chicago, Illinois 60625 for $2,922,000.  The new construction property spans three Chicago lots.  

The least expensive single family home sale is 2317 W Foster Ave, Chicago, Illinois 60625 for $225,000.  The foreclosure sale is located on busy West Foster Avenue.  Lincoln Square Community Area Single family home unit sales are up about 45% over 2014.

 $$$$
Million dollar single family home sales have almost doubled this year.  27 of the homes sales have been for over $1,000,000 from Jan 1st to Dec 4th 2015.  During the same period last season 14 home sales were $1,000,000 or over.

One of many attractive multi-unit buildings throughout Lincoln Square.

Multi-Unit Sales (two-four units)
77 multi-units have sold Jan 1st to Dec 4th, 2015.  49 two-flats sold with a median price of about $565,000.  About 50 sold over the same period last year with a median price of $560,000. Several of these had finished "in-law" units which, when done well, add value to the building.

21 legal three-flats sold this year with a median price of about $530,000 and only 6 four-flats sold with a median price at $540,000. 4851 N Winchester, Chicago IL 60625 was the highest multi-unit sale at $890,000. The stately gray stone building has four units and sits on an over-sized lot.


Stats gathered from MREDLLC.com (our member MLS) and glued together by Eric Rojas, Broker, Kale Realty. Enjoy.

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, 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).

Lincoln Square home sales way up 56 percent, prices stable

It looks like an interesting year for home sales in Lincoln Square.  We had a near $1.8 million dollar sale and also broke $1 million north of Lawrence Avenue twice already in 2012. House units seem to be selling at a good clip due to list prices more in line with buyers expectations. It is common to see single family homes sell well under 30 days.

Summer mean Lincoln Square Farmers' Market

Lincoln Square first half sales in 2012
42 houses sold in the first six months of 2012, up about 56% over the same period in 2011. The median price was stable at about $437,500 (coincidentally, our clients bought that median price house).  The median price last year was about $440,000.

Currently, there are about 27 homes under contract in Lincoln Square with a median price of about $575,000.

The Highs:
2019 W Giddings takes the cake at $1,795,000...a luxury new construction build.

The Lows:
2649 W Catalpa closed for $185,000. This was a short sale of a small Georgian style house in the eastern Budlong Woods area of Lincoln Square.  Prices and quality of homes have lagged greater Lincoln Square

6 of the 42 houses were either short sale or foreclosure.

All home sales statistics gathered and analyzed by Eric Rojas, Real Estate Broker using MREDLLC.com and personal experience. All photos Eric Rojas

Lincoln Square single family home sales 2013: Prices up, inventory low

It's been a dynamic year for Lincoln Square Community Area single family home sales.  In addition to houses changing hands, we've also seen significant renovations and custom new construction builds that have not been for sale (private builds).

New construction in the Bowmanville neighborhood of Lincoln Square (all photos Eric Rojas)

Lincoln Square single family home sales Jan 1st - July 5th

54 single family homes have sold between January 1st and July 5th of this year.  The median price is about $500,000.  Unit sales are only up about two homes over same period 2012.  Median price is up this year about $50,000.

The highest priced sale is a new construction house at 2104 W Sunnyside for $1,367,500 (closed in January). The original property was bought cash for $275,000... a steal considering the build and new sale! The lowest priced closing this year is a foreclosure sale at 5003 N Western for $169,900 cash (closed in May).   The busy and commercial Western Ave usually has the lowest residential sales in the Lincoln Square Community Area.

Foreclosure/ Short Sales

8 closed single family homes were listed as a foreclosure or short sale on the MLS.  The highest of these sales was a small, but renovated, house at 5255 N Damen for $310,000.  That was a short sale.

Under Contract

At the time of this writing, 29 single family homes are under contract. The median price of under contract homes is about $675,000.  Only 20 single family homes are actively listed in the Lincoln Square Community area at this time.

Lincoln Square single family home unit sales up 26% in 2011

Lincoln Square Community Area continues to position itself as one of the best single family home values on the North Side with median home prices about $475,000. With the a affordable price tag and neighborhood great amenities, single family home unit sales were up 26%. Most of the community area is close enough to downtown by CTA Brown Line and Metra, awesome parks, retail and restaurants, good access to highways, good school choices and lots of free activities.

One of two play lots at Welles Park in Lincoln Square

68 single family homes closed from January 1st to November 1st in 2011 with a median price of about $475,000.  This is about 26% higher than 2010 sales of 54 homes sold during the same period. Median price slipped a bit to $475,000 from $515,000 in 2010, same period.

The Highs: The highest priced home closing was 2131 W Agatite for $1.7 million.  The home is a brand new luxury construction build on a 37.5 feet wide lot.  The leafy location is tucked just steps from popular Welles Park and Sulzer Library. Six homes closed over $1 million in Lincoln Square so far. Eight homes closed for over $1 million same period last year.


The Lows: The lowest priced home closed was $100,000 for a foreclosure house at 5141 N Western Ave.  Western is a busy four lane major artery road. However, the actual location is close to the desired Lincoln Square retail and restaurant mecca thus the home has been gut renovated and placed back on the market for sale.The lower sales on average tend to be on Western Avenue, Foster Avenue and south of Foster Avenue.


Distressed: 10 single family homes out of the 68 sold were either short sale of foreclosure (bank owned, REO) sales.  From our research, this is a higher percentage than some adjacent neighborhoods to the immediate south. 


We love finding values in Lincoln Square.  If you have questions about the community and the available properties, please call us at 773-510-1597.
More Lincoln Square posts here!

Lincoln Square Home Sales last 60 days

2164 W Leland in Lincoln Square, a luxury renovation, is for sale at $774,900

July was decent for home sales in our core Chicago neighborhoods.  Here's a look at Lincoln Square single family home sales over the last 60 days.

28 single family homes closed in Lincoln Square Community Area over the last 60 days (July and August 2011).  The median held steady with the first 6 months of the year at $450K.  This includes the neighborhoods of Ravenswood, Bowmanville, Budlong Woods, Ravenswood Gardens and the heart of Lincoln Square along the Lincoln Avenue/ Giddings Square pedestrian friendly retail.


The highest sale was $1,090,000 at 4839 N Hoyne in the Ravenswood neighborhood.  The lowest was $240,000 at 2548 W Pensacola...a probable tear-down bought by a developer.


 

View the video below of 2164 W Leland and call for a showing.  This is an excellent example of a classic home on a block steps to everything Lincoln Square has to offer.

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.  

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 median home price up 45% from 2012 to 2015

New construction single family home at 4930 N Oakley. The original property on an over-sized lot was sold for $465,000 last summer. All photos Eric Rojas, Broker, Kale Realty

The Lincoln Square area is probably a "Top 3 buzz neighborhood" in Chicago due to the rapid addition of foodie destinations, infrastructure improvements, popular fests and luxury home construction.  Let's take a look at single family home sales in this desirable city location. Median single family home price is first half of 2012 was about $440,000.  At the half of 2015 it stands at about $639,000... a 45% increase over 3 years.

Home sales January 1st to June 30th, 2015

62 single family homes have been recorded as sold on our local MLS from January 1st to June 30th, 2015.  The median price of a house stands about $639,000. The highest home sale is 2030 West Leland, Chicago IL 60625 for $1,565,000.  The newly built home completed in 2013 after a long foreclosure and consequent redevelopment finally has a owner on the prominent Lincoln Square block.

A long vacant and dilapidated property on North Oakley was finally sold to a developer.  The new home nears completion this year.

The lowest single family home sale in the Lincoln Square community area is 2317 W Foster, Chicago IL 60625 for $225,000.  The small brick cottage on busy Foster was bought by an LLC.  Several new three unit construction buildings are going up on this strip and re-development could be a possibility for this property.

In the first half of 2014, 40 homes sold with a median price of $565,000.
In 2013, 53 houses sold with a median of $540,000.
In 2012, 50 houses sold with a median of $440,000.

Lincoln Square has many desirable qualities urban dwellers look for:  A long established retail and entertainment "downtown" in addition too many commercial hubs spread throughout the neighborhoods, great public transportation options (several CTA train stops, Metra and buses), access to large public parks (Welles, River and Winnemac) and diverse housing options.   

Square Roots Fest!

 It's worth noting many of the lower end homes have been sold and developed by private owners in recent years.  The next time these houses sell it will be for over triple the last transaction. With median price of a house at $1,000,000 to the southeast border in North Center (a very comparable neighborhood) I expect the trend of higher priced homes in Lincoln Square to continue over the next ten years.

Lincoln Square single family home sales 2013, inventory low

Single family home inventory has been tight in Lincoln Square thus far in 2013.  Newly listed homes have been snapped up pretty fast... especially east of North Western Avenue and south of West Foster Ave.  The last several houses listed under $500,000 (either ideal for a move-in buyer or developer) in this zone have gone under contract immediately.

Lincoln Square single home sales January 1st to March 18th, 2013

14 single family homes have closed this year (March 18th). The median price is about $536,000.  Closed unit sales are down from the 21 homes closed same period of 2012. However, the median price was only about $410,000 for the same period last year. 

The highest sale so far was $1,3675,000 for a unique new construction home at 2104 W Sunnyside. The house features an attached garage fronting the street rather than detached off alley.  The lowest sale has been $190,000 for a very small frame ranch house at 2730 W Berwyn. The house was a foreclosure sale and needed work.

Image from www.wikipedia.org

Lincoln Square Contingent and Pending sales 2013

21 single family homes are currently contingent or pending (under contract).  Amazingly, only 21 homes are currently listed for sale in the large Lincoln Square Community Area. The median asking price for these homes is about $475,000.

We sell a lot of houses in the Lincoln Square area.  Contact me if you are looking for a home in the area.  We may have "pocket listings" or know of homes being rehabbed or built that are not listed.

Stats gathered from MREDLLC.com...all opinions and analysis Eric Rojas, Licensed Real Estate Broker.

Look in! Lincoln Square single family home sales 2025

 

Homes on West Winona in Lincoln Square (all photos Eric Rojas, Broker, Kale Realty)

Although not over yet, 2025 is another year of rising single family home prices in Chicago and the Chicago Metro market surrounding six counties. My prediction is we'll continue to see super high demand for single family homes at the current prices as new listing slowly drip to market in the new year.

Let's dial down and take a quick look at single home sales though October in the extremely popular Lincoln Square neighborhood.

Median price of a sold single family home is up 3.5% year to date at $1,100,000. The closed sale price percentage compared to asking price is up to 101.3%!  That means there were a lot of multiple purchase offers resulting in sale price over the original listing price.  

Year to year in 2024 about 8% of homes sold for over $2M in Lincoln Square. 

In 2025 through October 10% of single family homes sold over $2M.

The numbers clearly show a super tight and competitive single family home sale market in Lincoln Square through October this year. Number of unit listings, closed sales and market time (- 42%!) were all down year over year. We are preparing our client sales and purchase plans now for the new year.

If you are looking to buy or sell any property in Lincoln Square of any Chicago neighborhood or near suburb contact my team at erojas@kalerealty,com

Questions? Just ask Eric!

What's up with Lincoln Square home sales? The price!

Agents like nothing more than seeing my four kids entering an open house! The familia checks out a new gut renovation  open house on the 2200 block of West Leland priced at $1,049,000.

Lincoln Square continues to be more popular than ever for home buyers.  The addition and enhancement of public and private schools, improved infrastructure and increased (and trendy) entertainment options have made palpable changes to neighborhood once slow to develop. I suspect there is a higher number of million dollar home sales than in past years as new construction homes push the envelop for this once working class enclave. Let's take a look.

Lincoln Square single family home sales
111 Lincoln Square single family homes sold so far in 2017 with a median price of about $688,000.  25 of the 111 home sales have been for over $1 million.  Three of those homes sold for over $2 million.  
 

New retail build-outs and infrastructure improvements have gone hand and hand with a new class of luxury builds.

In 2016, 83 single family homes sold over the same period with a median price of about $655,000. 16 of those sold homes sold for over $1 million. One of those homes sold over $2 million.


Over the same period in 2007 and 2008 at the height of the bubble a combined 17 homes sold over $1 million with the highest sale about $1.5 million.

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.

The List: Top 5 single family home sales in 2014 for Lincoln Square, Chicago

The story in 2014 for Lincoln Square community area home sales was strong demand, low inventory.  We may have seen a record sales price for a new construction home on a 37' x 125 lot size at $2,042,408.  As of December 26th, 94 single family homes closed with a median price of $565,000.  123 homes closed for a median price of about $575,000 in 2013.

  Top 5 Lincoln Square single family home sales in 2014

2149 W Wilson, Chicago IL 60625 pictured above while under construction.  The house cracked the 2014 Top 5 sales list at $1,640,000 (Photo Eric Rojas, Broker, Kale Realty)

1) 2168 W Windsor, Chicago IL 60625 at $2,042,408 (possible record for 37' x 125' lot)

2) 2015 W Giddings, Chicago IL 60625 at $1,945,000

3) 2020 W Leland, Chicago IL 60625 at $1,850,000

4) 2157 W Giddings, Chicago IL at $1,750,000

5) 2149 W Wilson, Chicago IL 60625 at $1,640,000

All Top 5 homes were new construction and built on 37' wide x 125' long lots (standard lots are 25' x 125').  2030 W Leland is currently PENDING closing asking $1,649,000 and could crack the Top 5 if closed over $1,640,000 by year's end.  The Top 3 sold houses were developed by Landrosh Development, LLC Lincoln Square's most prolific new house builder. 

15 Lincoln Square homes sold over $1,000,000 thus far in 2014.  In 2013, 15 homes sold over $1,000,000 as well over the same period.