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

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 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.

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 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 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.  

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!

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 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 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!

Sold! Lincoln Square single family home $981,500 (unit sales down, median price up)

We listed and sold 4817 N Seeley, Chicago IL 60625  early this summer.  The newer construction Lincoln Square home received multiple offers and closed for $981,500 (yeah baby!).

Early this summer we had the pleasure of helping neighbors sell their house. We previously worked with them on their townhouse sale (with two less kids!). It was sad to lose this awesome family of now six! You'd never know four kids lived in this house when we were listed... it looked amazing. Prior to listing we advised our sellers on painting and several repairs to achieve top dollar. We even scheduled and met the contractors at the home to manage the job.

The owners built the house in 2013 and added some mill work and features that set the home apart.

Unique touches like this beverage center and pantry won over prospective buyers.

Spacious, bright dining area in the great room leads to a large deck.

Large deck off kitchen and finished garage roof deck for lots of play space!

True, king size master suite... stretch out!

Separate soaking tub and walk-in shower are a must at this price-point.

Lincoln Square single family home sales
It is true the over-all single family home market plateaued a bit and we see less new construction houses being built in Lincoln Square. However, more high-end product is available keeping the average and median prices high for the neighborhood.

76 single family homes have closed this year from January 1st to August 29th. The median sale price of a house this year in the Lincoln Square Community Area is $725,000. Over the same period of 2018, 105 single family homes closed with a median price of about $655,000. In my analysis less homes changed hands due to higher re-sale asking prices slowing the market and less single family home redevelopment and flips.

Check out more of our Lincoln Square posts here  Sell and buy your properties with us!

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.

Lincoln Square single family home sales up BIG 44% as of October 2015

Are Lincoln Square single family home sales still hot?  Things slow down? Prices are way up from 3 years ago but how are unit sales?

Houses on the 5000 block of North Oakley (Photo Eric Rojas, Broker, Kale Realty)

Lincoln Square Single Family Home Sales January 1st to October 28th, 2015
111 single family homes are recorded as closed in MREDLLC.com (our member MLS). That's up 44% over last year. The median price of a sold house is about $695,000.   77 homes closed in 2014 over the same period with a median price about $640,000. The higher median price in 2015 reflects some very high-end new construction and re-sales that came to market this year pushing comparable prices higher. Still hot!

The highest sold house is  2026 W Wilson Ave , Chicago, Illinois 60625 for $2,922,000. The luxury new construction is built on a triple wide 75'x122' lot in the epicenter of Lincoln Square a stone's throw from Lycee Francais Chicago.  Can you say "Sport court" in the back yard!

The lowest priced sold home is 2317 West Foster for $225,000 cash.  The small foreclosure house is on busy West Foster but still a pretty good location close enough to the action. At the $225,000 price this could be a three unit condo development. Many existing and new development condo buildings line this couple blocks of West Foster.

September and October of 2015 have been a little more active than last year.  12 homes closed in the month of September and 6 so far this October (with maybe a closing or two tomorrow, Friday).   7 homes closed in September 2014 and 5 homes in October 2014.  

All stats pulled from MREDLLC.com and public records and presented by Eric Rojas, Broker, Kale Realty

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

 

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

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

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

Evanston Single Family Home Sales

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

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

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

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

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

A typical block of homes near Central Street, Evanston.

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

Going back several more years:

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

Lincoln Square single family home sales in the third quarter 2009

Greater Lincoln Square single family homes have fared relatively well during our boom and bust cycle and still remains pretty stable as the market "bottoms out" currently. That said, we still realized a 19% decrease in median price for the third quarter 2009. We slipped to $482,500 from $595,000 in the good ol' days of '08. But as usual, that drop in price elicits a giant "gulp" without context. Remember, Lincoln Square is big but most people only associate it with the commercial corridor along Lincoln Avenue from about Montrose to Lawrence heading northwest. Homes near the farther north and northwest borders of the area are priced lower on average than those in central and southern locations.

30 single family homes closed during third quarter 2009 in the Lincoln Square community area, one of 77 community areas in Chicago. This is an 11% increase over 2008 third quarter. I predicted an increase condo transactions for third quarter due to low interest rates and federal first time buyer tax credits. Single family homes sales were probably driven more so by low interest rates, lower asking prices and stabilizing job situations.

For example, only 19 single family homes sold in second quarter 2009 this year reflecting the lingering uncertainty from the fall 2008 disaster. To close in second quarter, most home buyers were looking and making decisions during the first quarter, a time of a new presidential administration and great economic uncertainty. 19 homes is actually pretty good considering the mood of the country. Closing a single family home in second quarter is usually pretty attractive due to children's school schedules. So, a third quarter 30 spot (over 30% increase in unit sales from the spring) is pretty significant.
Expect decent sales numbers for fourth quarter this year in general. The tax credit high and low interest rates lit a fire under some sore fence sitting bums! October and November will show pretty big unit sales numbers.

As for what you get? Don't expect much under $450K (unless you want to live on Foster Avenue or consider yourself "handy"). Another interesting statistic is only one of the 30 homes closed on our MLS as a foreclosure or short-sale (a flooded Georgian foreclosure in Bud Long Woods for $200K).

All statistics taken from Midwest Real Estate Data, LLC which I'm a member.

Greater Budlong Woods, Chicago house sales: Median price up 31% from 2015

A custom Budlong Woods home after last night's snowfall. All photos Eric Rojas, Broker, Kale Realty unless otherwise noted.

A pair of our current clients have to push out a little from the Western Brown Line Station to find a single family home. The Budlong Woods neighborhood offers relatively affordable single family homes in the far northwest corner of the Lincoln Square Community Area.  Budlong Woods "proper" is a fairly  small section of Lincoln Square. For educational purposes I look at sales in a slightly expanded region around Budlong to show the housing prices and options just out of the center of Lincoln Square.

Greater Budlong Woods neighborhood located northwest of the Lincoln Square center. The leafy neighborhood is close to a large park system, Swedish Covenant Hospital, North Park University, Northeastern Illinois University, Jamieson Public Elementary, Northside College Prep, Mather High School and a spattering of local owned businesses.

Sixteen homes were recorded sold on our membership MLS MREDLLC.com over 2019 (there may be a handful of off MLS private sales). The median price of a sold single family house over 2019 was about $500,000. The least expensive home sold was 2733 West Gregory, Chicago IL 60625 for $312,000.  The dated yet solid Georgian style home has three bedrooms, one and one-half baths and sold for over the list price.

Typical Georgian style brick home in Budlong Woods area.

The most expensive home sold in our sales area closed for $740,000 at 5306 North Virginia, Chicago IL 60625. This is completely gut rehabbed four bedrooms, three and one-half baths home. Currently there are only two homes listed for sale in the Budlong Woods sales area shown in the map above. Both are in the $400s.

Budlong Woods is one of the few North Side neighborhood locations with a handful of really cool custom mid-century modern homes built in the 1950s.

In 2017, twenty-one homes sold with a median price of about $435,000.  In 2015, eighteen homes sold with a median price of about $380,000. Median prices for a single family home are up about 31% from 2015 through 2019 in the Budlong Woods area of Lincoln Square. 

If you are looking to buy or sell a home on the North Side of Chicago and the near suburbs please contact us.

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.

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.

One Million Dollar Homes Dominate: North Side Single Family Home Statistics

A recent Lincoln Square single family home sale for $1,497,500.

Just about every day I punch some sort of specific search into the the database resources I have. With the Chicago real estate market activity at a seasonal and current market condition influenced "stand-still", I felt I would take a broad look at single family homes. I work just as hard now to prepare for the traditionally increased sales activity we see from February to June than at any time of the year. It is helpful to know what's been sitting around as new listings start to hit at (hopefully) correction pricing come late January.

With several clients looking for North Side single family homes I thought I'd look at all pending and contingent homes under contract to see what's moving. I'm looking at my specialty neighborhoods going south to north of Near North, Lincoln Park, Northcenter, Lakeview, Ravenswood and Lincoln Square

*In these 5 core neighborhoods, there are 464 single family homes listed for sale in our MRED/MLS system. Prices range from $209,000 for a tear down on a small lot near Welles Park in Lincoln Square to $12,000,000 for a Gold Coast Mansion.

*292 of the single family homes are priced over $1,000,000 (172 under $1,000,000).

*Only 56 single family homes are under contract and heading towards closing. Prices range from $262,000 for a single family home in Bud Long Woods (great deal) to $3,950,000 for a Gold Coast six bedroom home on LaSalle.

*31 of these single family homes are under contract for over one million.

In this round-up of the five specific and desirable areas, the million dollar home seems to have the edge in offerings and contracts. It will be interesting to see if the under one million dollar single family homes will make a big jump in contracts in early 2009. As interest rates remain low and retired folks and career changers want out of their big homes, I suspect we'll see that jump.