I snapped this photo while on my "run" yesterday. Another luxury new construction home rises on West Giddings in Lincoln Square.
Late last summer in August this frame three-flat above was sold at 2157 W Giddings for $489,000 cash. The 37 foot wide lots are coveted all over the North Side of the city. You pretty much know what's coming next. The new construction home on the right has been going up quickly...aided by the mild winter.
I'm guessing this will be a owner custom build as they paid a little bit of a premium for the lot. The same lot and tear down situation was purchased by a professional developer just a block east for $441,000 in August 2011 as well. Primary owners may pay a slight premium as they will live in the house, rather than pure profit motive.
2019 W Giddings below sold for $441,000 also in August and is now marketed as new construction for $1,795,00. Thus far, the 2000 to 2400 block of West Giddings will have another two (2) new construction luxury homes and a new gut rehab conversion of a two-flat all completed by the summer.
I'm guessing this will be a owner custom build as they paid a little bit of a premium for the lot. The same lot and tear down situation was purchased by a professional developer just a block east for $441,000 in August 2011 as well. Primary owners may pay a slight premium as they will live in the house, rather than pure profit motive.
2019 W Giddings below sold for $441,000 also in August and is now marketed as new construction for $1,795,00. Thus far, the 2000 to 2400 block of West Giddings will have another two (2) new construction luxury homes and a new gut rehab conversion of a two-flat all completed by the summer.
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| 2019 W Giddings sold as a foreclosure last August for $441,000 in a week. |
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