Follow up: Lincoln Park multi-unit median sales price up 47% since 2011

Even attractive classic brick multi-units in Lincoln Park's architecturally charming blocks are not immune to the wrecking ball. All photos Eric Rojas, Broker, Kale Realty

Mina Bloom of DNAinfo spoke with me about my Lincoln Park multi-unit sales numbers this week. Unit sales of multi-unit buildings almost doubled year to year from 2014 to 2015. Despite a heated market, rising prices and general low inventory around the hottest Chicago neighborhoods developers and private owners have surged ahead with buying.  Developers and brokers are as aggressive as ever working to get property owners to part with their buildings.

Here's a quick look at some of the data I provided on Lincoln Park multi-unit sales (2-4 unit buildings)

69 units sold in 2015 up 94% over 2014
Median price in 2011 was $615,000 and $908,000 in 2015. Up 47%
A standard city lot of 25'x125 can easily catch one million

New construction at West Webster and North Sheffield

Multi-unit tear-downs and conversions to single family homes is nothing new. The pace of these primarily rental homes and mixed use buildings going the way of the horse and buggy coupled with price appreciation is notable. There are a few neighborhoods on the North Side (notably Lincoln Park and North Center) that seem to be in constant transition of new construction on every block further consolidating the affluent near the city center. The rapidly changing demographics are certainly interesting and the impact to the city as a whole remains to be seen.