We've had a couple buyer clients purchase condos in great Lincoln Park locations early this year at 545 W Eugenie and 1145 W Lill (contracts pending). Personally, we have more buyer clients looking for condos in general than over the past three years. Let's take a look if actual unit sales are up for Lincoln Park the first two months of 2012.
79 attached homes (condos) sold in the first two months of 2012 with a median price of $410,000. That's up 27% over the 62 units sold in the first two months of 2011 (but down 3 units from 2010 but that included the first time buyer tax credit stimulus). Looking at the time of this writing (March 9th), 13 more condos have closed for a total of 92 for 2012 thus far.
The Highs:
The highest priced condo closing in Lincoln Park this year was $3,675,000 at Adler House, 2430 N Lakeview Avenue Penthouse unit #17. The home is described as 5600 square feet duplex. The co-op apartment required a cash deal. Assessment is over $8,000 a month with taxes included in the monthly assessment ($41,000 in property taxes). Phenomenal location surrounded by the lakefront parks, lagoons and excellent amenities.
The Lows:
The lowest closed condo was $77,000, a vintage studio apartment at 2324 Lincoln Park West (a stones throw from the highest closed unit). This tiny place was a great all cash buy for the Lincoln Park lakefront lifestyle. It was a conventional sale.
Distressed:
Of the 79 closed units, 15 (20%) were designated as a short sale or foreclosure unit. Many were under contract much earlier in 2011 and closed early this year.
More Lincoln Park posts HERE
Chicago Market Statistics!
79 attached homes (condos) sold in the first two months of 2012 with a median price of $410,000. That's up 27% over the 62 units sold in the first two months of 2011 (but down 3 units from 2010 but that included the first time buyer tax credit stimulus). Looking at the time of this writing (March 9th), 13 more condos have closed for a total of 92 for 2012 thus far.
The Highs:
The highest priced condo closing in Lincoln Park this year was $3,675,000 at Adler House, 2430 N Lakeview Avenue Penthouse unit #17. The home is described as 5600 square feet duplex. The co-op apartment required a cash deal. Assessment is over $8,000 a month with taxes included in the monthly assessment ($41,000 in property taxes). Phenomenal location surrounded by the lakefront parks, lagoons and excellent amenities.
The Lows:
The lowest closed condo was $77,000, a vintage studio apartment at 2324 Lincoln Park West (a stones throw from the highest closed unit). This tiny place was a great all cash buy for the Lincoln Park lakefront lifestyle. It was a conventional sale.
Distressed:
Of the 79 closed units, 15 (20%) were designated as a short sale or foreclosure unit. Many were under contract much earlier in 2011 and closed early this year.
More Lincoln Park posts HERE
Chicago Market Statistics!
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