Buyers still pay premium for new construction, Wrightwood Crossing

One 1510 square foot three bedroom lower floor unit at Wrightwood Crossing in Lincoln Park closed this Monday October 4th for $575,000, or, $381.00 per sq/ft! Across the street, a new construction 2500 sq/ft duplex condo penthouse unit with ROOF TOP DECK at 1302 W Wrightwood closed for $840,000 or 336 sq/ft (with extra half bath... and oh yeah, roof top deck!). The green development here cost you more greenbacks at almost $50.00 a sq/ft.

Bob took some photos of Wrightwood Crossing last weekend ( a "green" new construction development at 1307 W Wrightwood) just around the corner from his house in Lincoln Park. We continually see Chicago buyers pay top dollar per square foot for over-the-top new construction finishes... period. These are not a comparable to your re-sale. I'm not talking cheap vanilla finishes either... but nice stuff. We also see people spending more for LEED envy developments that seem to walk the walk.

This is about driving off the lot in a NEW car. It does not matter to these buyers that they are usually far outpacing the median price per square foot for the market. They are the market.

At nineteen total units, Wrightwood Crossing has had five closings ranging from $575,000 to $1,171,000, the latter a four bedrooms, three bathrooms penthouse home including sizable great room, media room and two car garage parking. That means these folks have moved in to the construction zone already.

Five units at the Crossing are currently under contract ranging from $495,000 to $1,171,000 and seven units are actively listed on our member MLS ranging from $495,000 to $1,999,000. That adds up to 17, so there are two others possibly available if no units were combined.

Wrightwood Crossing is marketed by our brokerage Prudential Rubloff Properties. CLICK HERE for the BROCHURE

Significant re-sale at Lincoln Park's Wrightwood Crossing closes over $1 million

Bob snapped this shot over the weekend of 1307 W Wrightwood. The Wrightwood Crossing development was completed in 2009 and is composed of 19 units of several varieties.

We've always liked the look and location of Wrightwood Crossing in western Lincoln Park and have watched sales over the years.  The modern building is housed among tree-lined streets with a bit of industrial past evidenced by ground level train tracks still present on North Lakewood.  The condo homes offer a rare new construction elevator building option on a residential street.

Walking past the building this weekend we were reminded of a significant re-sale that closed at the end of September this year. Unit 305, a three bedrooms, three baths 2200 square foot single level condo sold for $1,075,000.  The original closed price recorded in the MLS in 2010 was $926,250.

Unit 306 is currently under contract with a listing price of $1,199,900.  The three bedrooms penthouse with an extra family room and huge outdoor spaces originally closed in December 2012 for $910,000.

Unit  # 103, a three bedroom (configured as two bedroom and a den) is currently offered at $675,000.
Unit #104, a highly styled three bedrooms unit just came back on the market at $669,000.  It was originally listed a little earlier this year at $699,000.

Up to $50K off at Wrightwood Crossing, Lincoln Park

We were sent new pricing from Lincoln Park's new and green construction project Wrightwood Crossing. There are price reductions up to $50,000 and the project is 60 percent sold.

The new prices are as follows:
#108 dropped from $489,000 to $449,000
#105 dropped from $599,000 to $549,000
#205 dropped from $639,000 to $619,000
#206 dropped from $630,000 to $565,000
#303 dropped from $995,000 to $949,000
#306 dropped from $949,000 to $899,000

You can check out our past posts on Wrightwood Crossing here:

If you are interested in purchasing a home in Lincoln Park please email or call us erojas@rubloff.com or 773-687-4646

Cha-cha-cha changes on the interesting 1300 block of West Wrightwood in Lincoln Park

The new Punt and Plume liquor store is in development at 1354 West Wrightwood Chicago IL 60614 in Lincoln Park (all photos Eric Rojas, Broker, Kale Realty)

I was at 1307 W Wrightwood Unit 206 in Lincoln Park Saturday morning beginning preparation on our upcoming listing. We sold another unit at the upscale condo building last year. Take the video tour:


We love this location for several reasons.  The Lincoln Park block has a real distinct personality.  The old rail tracks at Lakewood, big mature trees, mix of high-end and modest properties and several local bars, restaurants and shops all converge for a unique Chicago flavor.

There is some shifting and movement on the block.  A new "artisan wine and craft spirits" purveyor called Punt and Plume is taking the old Wrightwood Food Mart space. No opening date has been announced yet.

Tavish Bar and Grill on the southwest corner of West Wrightwood and North Wayne has closed.  The space is looking for a new tenant.

1320 West Wrightwood was a frame multi-unit sold in 2013 for $590,000. Chicago Cityscape data shows the tear down and construction permits for a new building issues late 2014.  Looks like two/ three story with office on ground floor, roof deck and both attached and detached garages.

 

Just a half block west of The "Pour House" bar building at 2559 N Southport (at Wrightwood) sat vacant for many, many years has been torn down.  I may or may not have had a few drinks at the Pour House in the late 1990s.  I do not see new construction permits issues just yet for the new structure.  2559 N Southport Ave is in a Commercial / Mixed-Use (C1-1) zone as of September 2014.

Mainstay Rose Angelis at 1314 W Wrightwood Chicago IL 60614 and Maeve offer dinner and drinks right out your door.

The desirable block had sales from $460,000 to $1.2M over the last 12 months.  We will have a three bedroom unit coming on the market at Wrightwood Crossing 1307 W Wrightwood #206 next week at around $619,000.

Sold! Repeat client closes Lincoln Park condo sale $575,000

Take a video tour of our latest sold listing in Lincoln Park



We closed the sale of a three beds, two baths luxury condo at popular Wrightwood Crossing early this week.  1307 W Wrightwood #106 sold for $575,000.  Our investor client who owned in the original development relied on us to make recommendations on preparing the home for market and pricing.  We managed all aspects of the condo renovation and sale process from start to end.  This included managing contractors and working with the Condo Association on key issues.

The entrance to Wrightwood Crossing, 1307 W Wrightwood, Chicago 60614

We thank our client for his continued trust and business.  Congratulations to the buyer who was also wonderful to work with.  Enjoy your new home in a terrific Lincoln Park location.


The median price for a three bedrooms, two baths condo with garage parking in Lincoln Park this year is about $586,000.  Sales stats gathered from MREDLLC.com.

Call or email us to discuss your next real estate purchase or sale.  We handle all aspects of the transaction.

Sold! Lincoln Park three bedrooms condo at popular Wrightwood Crossing

We've sold our second listing at 1307 W Wrightwood in Lincoln Park.  Take the video tour of unit #206 at Wrightwood Crossing.



Closed sale price for 1307 W Wrightwood #206, Chicago IL 60614 is $610,000.
Call us to buy or sell in Lincoln Park.

Going for LEED: Green new construction condos rising in Lincoln Park

I took a quick mobile shot from the truck of a Green new construction condo development marketed by my homeys at Prudential Rubloff. Wrightwood Crossing is located at the 1300 block of west Wrightwood and is seeking LEED Platinum Certification (and it has nothing to do with how many records you sell).

Check the Wrightwood Crossing link above for pricing and floor plans. And, bring some greenbacks... you're gonna need them.

New for Sale! Video tour of 1307 West Wrightwood #206 in Lincoln Park asking $629,000

Take the video walk-through of our newest listing in Lincoln Park! Sophisticated modern living at Wrightwood Crossing 1307 West Wrightwood #206, Chicago IL 60614 asking $629,000. Great residential block with restaurants, parks, bars, services and high-end homes outside your door.



Three bedrooms, two full baths
Heated garage parking
Elevator building
Sprinklers in-unit
Concrete between floors
Laundry room
Modern design
Assessment $308.00
Taxes $7,400
Units sell from $540,000 to just under $2 million dollars in the building.

Master bathroom. Photos and video YoChicago.com and Eric Rojas, Broker, Kale Realty

Exclusively listed by Eric Rojas, Broker
Kale Realty
542 W Roosevelt Road
Chicago, IL 60614 
773-510-1597
erojas@kalerealty.com
 

New for sale! Three beds, two baths, attached garage in modern Lincoln Park building $599,900

A true newer construction three bedrooms, two baths home at 1307 W Wrightwood 106 asking $599,900!  Wrightwood Crossing is a modern boutique elevator building in leafy Lincoln Park.  The high first floor unit provides the option of NO STAIRS by taking the quick elevator or just going up a short fight of stairs.  Three parks within two blocks and Mayer School District.

Attached garage, laundry room, good sized terrace and concrete between floors compliment the luxury finish.  Freshly painted, like new!

Watch the video tour! View new photos below!

This is a great value.  Unit 104 with the same layout and western exposure closed for $649,000 in 2013.

Features

Completed in in 2010

Three bedrooms

Two baths

Terrace

Laundry room

Stone and marble finishes

Master suite

Master bath w/ double vanity, separate steam shower and over-sized jet tub

Home faces quiet courtyard on leafy block

Concrete between floors

Garage parking included

Elevator building

Mayer School District

Assessment $276.00

Taxes $7,471 (no Homeowners exemption taken)

 

Listed by Eric Rojas, Broker, Kale Realty

548 W Roosevelt Road

Chicago, IL 60607

We got this! Meeting contractors in Lincoln Park for our repeat real estate client

Our clients are busy with work and family. Although their situations vary all of our clients value their time and piece of mind.   It sounds cliche but Bob and I pride ourselves on taking over the entire home selling process for our sellers.  We come up with a solid plan and personally execute each step of the sales process using our experience and  vetted group of referral services.  We'll be highlighting some of our day to day activities on behalf of clients. "We got this!"

I spent yesterday morning inspecting contractor work and taking new photos of a new condo listing in Lincoln Park on behalf of our repeat client (Photo Eric Rojas, Real Estate Broker). We commission Photolightchicago.com for professional photos of all our listings when ready to present on the MLS.

A valued client of ours owns several investment properties.  He recently contacted us to evaluate and sell a condo holding that he has been leasing for several years.  

 

We first listed the home tenant occupied.  It photographed pretty well but the unit definitely needed some paint and refreshing. Photo by Photolightchicago.com

Before: We made a recommendation to plant shade trees adjacent to the rear windows and terrace to improve privacy.

A tree will go here!

In this case the plan was two-fold: First, prepare and list the property on the market while tenant occupied. We listed at a higher price requested by our seller than our initial recommendation (that's cool, we'll give it a try).  In many cases it's best to avoid listing a tenant occupied unit.  However, market demand for this particular type of unit was good and the home showed fairly well.  So, it was reasonable to try this route at a higher price.

 We provided the tree proposal with photos to the management and condo association Board on behalf of our client. Once we received approval new shade trees were quickly planted by landscapers at a fair price.

We used the data from the first couple weeks on the market to determine next steps. It would be best to take the listing down until tenants were out and prepare the unit for sale at a new price.  We quickly 1) met with our contractors at the property, 2) outlined the work, 3) arranged the planting of trees adjacent to the unit for privacy, 4) inspected all work and 4) coordinated new photography. 

 Our client never had to visit the property or make a single phone call for any appointments.

We made recommendations and handled the condo preparation from start to finish. The home photographs, shows and smells like brand new construction.

We just re-listed 1307 W Wrightwood #106 at Wrightwood Crossing yesterday and have several showings for this evening.

Lincoln Park three bedroom condo sales: Units down, prices UP

We are under contract and in attorney review on a three bedroom condo listing in Lincoln Park.  Let's take a look at how three bedroom condo sales are doing this over-all this year.

The entrance at 1307 W Wrightwood, Wrightwood Crossing in Lincoln Park (Photo Eric Rojas, Broker, Kale Realty)

Three bedroom condo sales in Lincoln Park January 1st to June 30th, 2014

165 attached homes (condos, town houses) listed as three bedrooms have closed from January 1st to June 30th this year. The median price is about $625,000.   In 2013, 186 condo units sold at a median price of $564,000.  2014 is another year of tight inventory and rising prices for the most desirable neighborhoods.

The highest sold condo listed in the MLS was tat the newest luxury building in Lincoln Park. 2550 N Lakeview Avenue Unit C8-13 closed for $3,999,000. The home was listed as 3965 interior sq ft + 758 sq ft terrace.

The lowest recorded sale in the MLS over the same period is 825 W Diversey #2 sold quickly for $286,000 ($1,000 over list price).  The vintage 3 bedroom vintage condo did not include dedicated parking. The busy but great walkable location offers terrific shopping and transportation.

All sales statistics gathered from MREDLLC.com and analyzed by Eric Rojas, Broker, Kale Realty.  The stats are meant as a guide and are as accurate as possible.

Video! Our new three bedroom condo listing at Lincoln Park's Wrightwood Crossing $629,000

1307 W Wrightwood 106 asking $629,000 is located in a modern boutique elevator building in leafy Lincoln Park.  The high first floor unit provides the option of NO STAIRS by taking the quick elevator or just going up a short fight of stairs.  Three parks within two blocks and Mayer School District.

Attached garage, laundry room, good sized terrace and concrete between floors compliment the luxury finish.

Watch the video tour!

This is a great value.  Unit 104 with the same layout and western exposure closed for $649,000 in 2013.

Features

Completed in in 2010

Three bedrooms

Two baths

Terrace

Laundry room

Stone and marble finishes

Master suite

Master bath w/ double vanity, separate steam shower and over-sized jet tub

Home faces quiet courtyard on leafy block

Concrete between floors

Garage parking included

Elevator building

Mayer School District

Assessment $276.00

Taxes $7,471 (no Homeowners exemption taken)

 

Listed by Eric Rojas, Broker, Kale Realty

548 W Roosevelt Road

Chicago, IL 60607

Lincoln Park Starbucks with boutique feel

I took this photo earlier this year walking from one of our (now sold) home sale listings at 1030 W Wrightwood.

We've loved this Starbucks Coffee at the corner of Wrightwood and Racine for years while criss-crossing Lincoln Park. This is a true neighborhood joint.

Located on a relatively quiet corner with only small shops, the residential location makes for a perfect place to duck in. This section of Wrightwood between Sheffield and Racine is a gorgeous street to live on!