Take me to the river... in North Center!

Many cute signs, crafts and sites along the river path in North Center.  All photos Eric Rojas, Broker, Kale Realty

 

This extraordinary renovation sits adjacent to the river in North Center.

I took some photos of riverfront paths after showings in North Center early last week.  North Center has been a hotbed for single family homes for the better part of twenty years due partly to strong public and private schools.  In the last ten years median prices of a house really soared. Many service, restaurant and athletic amenities have been developed nearby to meet the demand of these higher net-worth residents.

The Chicago River is a natural amenity that makes the North Center community area even more charming. The path between West Irving Park Road and West Montrose Avenue on the east bank winds past North Center houses that back up to the river. Horner Park is across the river on the west.  It's a unique experience living near the river and parks.

The North Center riverfront area sales within North Western Avenue to the Chicago River and West Irving Park Road to West Montrose Avenue.

North Center single family home sales near the river (shaded area above)

People are hanging on to homes in this section of North Center.  The last couple of years have had over half the sales than the two years prior.

Eleven homes have closed this year from January 1st to October 24th this year. The median price of a closed house is about $725,000 for this section of North Center.  That's lower than the whole of North Center (median price of $1,100,000) but reflects a higher percentage older homes sold this year in this section that have yet to be renovated.  In 2019 over the same period, twelve homes sold with a median price of $965,000.

That's less sold than the two years prior. 2018, twenty-two houses closed with a median price of about $830,000. In 2017, Twenty-nine houses sold over the same period with a median price of about $850,000. 

 

Homes of all types and grandeur back up to the river (some barley hanging on to a triple lot newer construction luxury home) 

No dumping... but do all these other things!

North Center single family home sales 2016... hold on to your wallet!

I took a photo of this house a few years ago near Welles Park in North Center.  It's typical of newer construction homes in this increasingly high-end community.

North Center continues to be one of the most active single family home markets in terms of sales, strong re-sale prices and new construction houses.  Here's some fun facts from January 1st to about July 8th, 2016 of this year.

Single family home sales Jan 1st to July 8th, 2016
120 North Center single family homes have closed from January 1st to July 8th, 2016.  The median price of a home in the neighborhood is about $1,092,500.  Many homes up to the $750,000 price point (and occasionally more) are bought to tear down or gut renovate and expand. 115 homes sold over the same period in 2015 with a median about $1.1 million.  Very steady sales and prices year to year.

The highest North Center home sale price on the MLS this year is 1851 W Fletcher St , Chicago, Illinois 60657 for $2,500,000.  This house on a 75' wide lot has been a particular favorite of mine due to the "tucked away" feel to the location and it's side yard with sport court.

The lowest single family home sale is in the Picardy Place development at 1800 West Diversey Unit F for $433,000.  These small houses with attached garages are great condo/ town house alternatives.

$900,000 for a residential vacant lot

North Center has witnessed a new house construction boom for years.

Vacant lot and tear down sales in the neighborhood are quite the story.  The highest price sale for a vacant single lot sale in North Center this year (recorded on MLS) is $900,000 for 3901 N Leavitt St, Chicago, Illinois 60618. The corner lot measured 40 ft wide by 124 ft long and is located in Bell School district.  A "tear down" frame house 31'x125' lot at 2033 West Fletcher in Jahn School district caught $615,000.  The range for tear down lots vary greatly by size, location and school district boundaries.  Standard 25'x125' lots (less desirable for new construction) have caught over $500K for a tear down house.


The least expensive vacant residential lot sale is 2029 West George $241,000.  The irregular shaped lot (triangular lot) near North Clybourn is in a growing section of North Center.

I currently have the least expensive vacant residential lot listing for sale in North Center and Coonley School.  1801 West Cuyler  offered at $199,900 has plans drawn for a modern home situated on the 17.5' x 124' lot near the CTA Brown Line at Irving Park.  It's a unique lot size but the free standing house floor-plan would mimic the width of row house or town home. Watch the video.



Contact me to buy and sell North Center and Chicagoland homes both on and off the MLS. 

North Center condo sales BOOM 82% in 2013

We have a higher-end North Center condo coming to market soon this spring.  Another client/ friend of ours owns a condo in North Center and just asked me how condo sales were doing this year.  So, it's a good time to talk North Center condo sales!

Condos line North Lincoln Avenue in North Center (Photo Eric Rojas)

 North Center Condo Unit Sales 2013 (Jan 1st to April 22th)
82 attached units sold (condo and town homes) thus far in 2013.  When I first saw that number my guess was unit sales must be up.  And they are up... big.  Same time sales of condos are up 82% over 2012. 

The median price for an attached unit this year is about $334,000 - about the same as last year.  The highest priced closing so far is 1800 W Grace Unit #518T for a whopping $680,927.  Crazy unit number and interesting price for the custom 2 bed, 2 bath 1900 sq/ft gut renovation loft.

West Roscoe Street in North Center (Photo Eric Rojas)

Under contract
Currently, there are another 72 attached units (condos/ town homes) under contract.  246 units closed in all of 2012.  We are well on our way with 154 units either closed or under contract in April of this year.

We have seen excellent demand for condos in our core markets of Lincoln Park, Lakeview, Lincoln Square and now North Center.  In North Center, pricing looks on par with last year and inching up on  two and three bedroom plus units.  It's not a race to the bottom anymore.  The more desirable units with larger square footage are seeing multiple offers and a bump in pricing.  Low priced units are also seeing multiple offers and closings over listing prices.

North Center new construction home activity

Real Estate writer Dennis Rodkin of Crain's had a nice story  a couple weeks back about fervent demand for new construction houses in Chicago.  Several of our clients seek new homes in North Center up to $1.5 million and they can concur with the story. New construction activity seems endless, yet competitive, in North Center while prices easily exceed the $1.5 million dollar mark. 

All photos Bob DePalma, Broker, Kale Realty

While showing another house on West Fletcher in the "near" Roscoe Village neighborhood of North Center when we came across the two impressive new construction homes.  1905 W Fletcher to the left is listed by At Properties for $1,799,000.  1909 W Fletcher to the left is listed as under contract with an asking price of $1,799,000.

1928 W Fletcher shown above and below is listed by Jendra Realty at $1,525,000. Tax records show the property last sold for $500,000 in late 2013.  The original small frame house was torn down.

North Center new construction for sale and sold

Currently, there are 5 new construction homes marketed for sale on the MLS for North Center with asking prices from $1.4M to $1.8M

8 new construction homes are listed on the MLS as under contract with prices ranging from $1.3 million to $1.8 million.

6 new construction homes listed in the MLS have closed this year in North Center with prices ranging from $1.2 million to $1.6 million.

In just the first 3 months of the year (at the time of this writing, 19 new construction houses are either just sold, under contract or available in North Center alone.  That's a lot of new houses for a community area.
All sales statistcs derived from MREDLLC.com our member MLS

Read more of our North Center posts HERE

Predicting big numbers for North Center single family home sales

Bob and I have been writing for a couple years on the uptick in single family homes sales in popular North Side neighborhoods. This year is almost half over and it certainly feels like sales are going to increase again in North Center. Improved schools (Bell, Coonley, Jahn, Audubon to name several), crazy low mortgage rates, lower listing prices and an increase in gut renovations and new construction homes have fueled the sales.

One of the retail strips along North Lincoln Avenue in popular North Center, Chicago

North Center single family home sales, median price, under contract...
Currently in 2012, 54 single family homes closed in North Center from January 1st to May 29th. That's on pace with the 55 single family home closings during the same time period in 2011. Another 59 single family homes are currently under contract this year at the time of writing. The jury is still out, but the pace at which homes are going under contract leads me to believe we'll have a bigger year in North Center than last years 177 closed homes (a tall order).

The median price in 2011 during the same time period was about $780,000 in North Center with 18 of those homes closing over $1 million.  This year in 2012, the median price of a sold home is about $725,000 with 17 homes closing over $1 million.

More North Center posts HERE
All photos and analysis Eric Rojas, Real Estate Broker. Market statistics gathered from MREDLLC.com, our member MLS

North Center condo sales up 59% year over year

Roscoe Village is probably the best known and well defined neighborhood in North Center Community Area of Chicago. The popular Pencil Factory Loft condos are in the background.

North Center is now known for million dollar single family homes and good schools. However the condo market remains fairly diverse and a draw for many budgets. I think the trend is moving toward larger, more expensive condo developments as aging commercial stock is redeveloped into mixed-use with residential units.  Let's take a look at recent North Center condo sales.

51 condos sold in North Center from January 1st to March 5th, 2021. The median price of a sold condo is about $420,000. Over the same period in 2020, 32 condo sold with a median price of $450,000.  In 2019, 39 condo units sold with a median price of about $435,000.

The highest priced sold condo this year is 3034 North Clybourn Unit 1. The new construction duplex-down sold for $775,000. The Clybourn corridor of North Center is seeing increased growth and value due to the large Lathrop Homes re-development. 

 

Luxury condos in development in North Center at 1800 West Berenice

The lowest sale price this year is 1851 West Belle Plaine Avenue, Unit 1 (two bedrooms, one bath unit) for $245,000.  That's not that low for a "lowest price" sale. No one bedroom condos have sold thus far in the year.  Only four of the 51 condos sold have closed for less than $300,000.

Contact us to buy and sell North Center and Chicagoland condos.

Whoa! 2015 North Center condo unit sales UP 76% over 2012, 23% year to year

Many condo buildings line North Lincoln Avenue in North Center community area on Chicago's North Side. All Photos Eric Rojas, Broker, Kale Realty

 North Center is known to be red hot for new single family home construction and sales for several years now.  Most single family homes offered for sale top $1,000,000.  Let's see if condo sales and prices are keeping pace in this popular North Side area.

2015 attached unit sales (condo, town house) in North Center

433 North Center attached units were recorded sold in the MLS for all of 2015. Unit sales are up 23% year to year.  The median price of an attached home in 2015 is about $389,000. Median price is up about $50,000 year to year.  In 2014, 334 units closed with a median price of $338,000

• 375 units sold in 2013 with median price of $355,000
• Only 246 units sold in 2012 with median price $347,000

Several new construction projects came online boosting 2015 sales numbers.

We just listed an affordable North Center two bedroom condo at 3633 N Damen Ave #3 this week for $219,900. Check it out!

More North Center market posts here

North Center "River's Edge" home sales by the North Branch of the Chicago River

A river lookout point and trails run along the western border of the North Center neighborhood. All photos Eric Rojas, Broker, Kale Realty

We've been looking for a single family home for our clients in the North Center and Lincoln Square areas.  A couple nice houses came up in the budget in the western portion of North Center between North Western Avenue and the North Branch of the Chicago River. The neighborhood also known as "River's Edge" resides in Coonley Elementary  and Waters school districts (sales area shown below).  The buyer clients were not familiar with this pocket so I had them take a walk on the river trail!

North Center section known as River's Edge along the river. This residential section of North Center enjoys a unique river trail and offers easy access to three large parks.

35 single family homes sold in this section of North Center over 2017.  The median price of a home sale here is $845,000.  Six small multi-unit buildings sold over the same period with prices ranging from $450,000 for a frame two-flat (most likely a tear down for redevelopment) and $950,000 for a renovated three-flat building with large duplex owners unit.

The river path is a nice way to get outside for some peace and quite in the middle of the city. You like the river check out Friends of the Chicago River

This dream house is under construction along the riverbank... wow! It has my required basketball court already too.

This "alley" has the feel of a private country road to select houses.  You can see the large luxury home under contract in the background.

Eleven condo units sold in this section as well over 2017 with a median price of $315,000.  The price and units ranged from a one bedroom at $175,000 to a new construction three bedrooms duplex-down on Western Avenue for $510,000.  The access to parks and Chicago Park District  programs is most desirable for me personally. Many buyers are desperate to get into a house or condo in a highly rated neighborhood school district.

Quick look! North Center real estate sales 2018

Anecdotally speaking there were far less new homes actively under construction along my walk than in the past few seasons. Usually there are crews in the streets and torn up sidewalks on every North Center block.  Fewer construction sites, but activity was not totally absent! All photos Eric Rojas, Broker, Kale Realty.

I was in North Center last week to evaluate a couple properties owned by a landlord we work with. Here's a look at some of the real estate sales numbers for the North Center community area this year.

193 single family homes have sold from January 1st to September 30th this year.  The median price of a closed single family home is about $1,045,000.  The highest priced sold home is 3530 North Seeley in Roscoe Village for $2,650,000.   The double lot luxury custom home was built in 2011.  The lowest priced single family home to sell is 2458 West Berenice for $300,000 cash.  The original bungalow was torn down to build a new house (not sure if it is completed yet or if it will hit the open market). 

Last year over the same period 214 single family homes sold with a median price of $1,095,000.  In 2016, 180 homes sold with a median price of $1,050,000.  Going back five years to 2013, 209 single family homes sold with a median price about $880,000.  Sales and prices have leveled off the last three years after a large spike from around 2012 where median price was about $800,000. 

A rare row of intact multi-unit apartment buildings in North Center.

North Center is also infamous for the number of small multi-units (usually two-flats) that are bought and either converted to single family homes or torn down to build a new house.

57 small multi-unit buildings (two-four units) have sold  thus far in 2018 with a median price about $620,000.  Five years ago in 2013, 70 buildings sold with a median price of $575,000.

This year, 38 of those buildings are two flats with a median sales price of $560,000.
15 of the sale were three-flats with a median price of about $615,000.
4 sales were four unit buildings sold from $675,000 to $1,173,500.

There is a healthy stock of older original frame homes in the neighborhood.  Most will be re-developed when sold.  It rare in the neighborhood from someone to just buy an old home and live in it.  The market numbers just don't favor that type of purchase.

One of the first major, larger new construction condo developments in the early 2000s condo boom at the intersection of Lincoln and Damen Avenues.

318 condo units have sold from January 1st to September 30th this year.  The median price of a condo is about $430,000.  The highest sold condo unit this year is 3844 North Damen Unit 1 for $960,000.  The tricked out new construction duplex down is located in Bell school district.  In 2013, 314 condo units sold over the same period with a median price about $349,000.

Please contact us if you are looking to buy or sell North Center condos, houses or multi-units.

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.

North Center single family home sales: 1st quarter units, median price down but expect busy year

We were in North Center again yesterday with a client viewing a house listed at over $1 million.  North Center single family homes were one of the hottest markets of 2011. With over 30 percent of houses offered at over $1 million, unit closing numbers up and prices strong compared to other North Side neighborhoods North Center transcended the market. There appeared to be one or two new construction homes in progress on every block! Let's see how sales went first quarter 2012.

Town Square farmer's market in North Center. Photo Eric Rojas, Real Estate Broker

Closed:
21 single family homes closed in the North Center community area from January 1st, 2012 to March 30th, 2012. The median price of a house was about $525,000.  Most of the homes below $525,000 were in need of significant renovation, located on Western AVE or need to be torn down. 28 homes closed in the first quarter in 2011 with a median price at $725,000.

Under Contract:
At the time of this writing 47 homes are under contract in North Center with a median asking price of about $925,000 for those houses.  We should see a pretty good year in units sales and prices once it is all said and done for 2012


 
The Highs:
The highest priced closing was 2216 W Grace for $1,435,000 as a short sale.  This was the "controversial" conversion of a corner 6 unit building to an enormous single family home.  Listed at $2,115,000 the truly opulent house took a considerable lower offer but needed considerable finish work as well. 


The Lows:
The lowest priced house to sell was 2425 W Fletcher for $120,888 as a short sale.  This is a small frame "tear down" house on a 25' x 120' lot in a somewhat isolated little section just south of the Western, Clybourn, Belmont intersection.


Distressed:
8 of the 21 houses sold in the first quarter were listed as foreclosure or short sale in our MLS.

North Center single family home construction continues, prices and unit sales rising

 

 

The trend of large new construction homes looms large in North Center community area. North Center has probably been the hottest single family home market in Chicago over the last three years in terms of home prices and new construction.

I took a nice long walk around North Center last week.  Two new homes are being built near the corner of West Cullom and North Bell close to Welles Park.

Home unit sales and median price has continued to climb in North Center since 2010

254 single family homes closed in North Center for 2013 with a median price of $875,000.
190 homes closed in 2012 with a median house price of $817,000
177 homes closed in 2011 with a median closing price of $800,000.
144 homes closed in 2010 with a median house price of $747,000

Home construction on the 2200 block of West Collom

20 homes are currently under contract in North Center.  11 of those homes under contract have list prices over $1 million dollars

North Center condo sales this year (unit sales and median price steady)

Photographer Mike Borden has worked on dozens of properties with me. Roof views from 4104 N Western Avenue Chicago IL 60618. We'll be listing a three bedrooms condo later this week.

I spent part of my day photographing a new North Center three bedrooms condo listing with my guy Mikey B! The unit has a common roof deck area that has downtown skyline views.  Here's a quick look at over-all North Center condo sales this year.

West views from 4104 North Western Avenue

North Center condo sales January 1st to October 31st, 2019

*North Center three bedrooms condos have a median sales price of $520,000 this year*

338 condo units have sold thus far in 2019 with a median price of $442,000. The median price of a three bedrooms condo runs about $520,000 this year. The lowest priced sold condo is 3557 N Oakley Unit 3 for $134,000. The vintage one bedroom condo has a great Roscoe Village location and rare in-unit washer and dryer at the price-point. The highest priced sold condo in North Center is 2250 W Roscoe Unit PH for $1,200,000. The top floor four bedroom home has a fantastic upgraded roof deck.

2019: 338 condo units sold with a median price of $442,000
2017: 336 condo units sold with a median price of $445,000
2015: 393 condos units sold for a median price of $390,000

Contact me today to buy/ sell North Center condos and properties in the surrounding neighborhoods!

North Center homes growing like weeds in an alley!

This North Center new construction home is being built on an irregular lot off West Pensacola... in an alley! (all photos Eric Rojas, Broker, Kale Realty0

You know your neighborhood is hot when houses spring up in peculiar places. Every so often there is a unique house built among the many nice - dare I say vanilla - new construction homes around the North Side. This little ditty near Pensacola and Lincoln Ave above is a good reminder to check in on North Center single family homes this year. 

North Center single family home sales January 1st to April 30th, 2017
62 North Center homes closed in the first four months of 2017.  The median sales price for a closed house is a measly $1,100,000 (that gets you a house in an alley... j/k).  Over the same period in 2016, 53 homes had closed with a median price about the same at $1,150,000. 

Looking back at 2012 only 25 single family homes sold with a median price of about $680,000. Like half the houses and sales price only five years ago.  As the saying goes "hindsight is... making me depressed!" or something like that.
 

Dreamy North Center, Chicago

But hey! There is plenty of inventory at the moment.  About 111 homes are listed for sale in North Center at the time of this writing so let's get shopping.  Median asking price for a house is about $1.2M and I know there is a deal in there somewhere.