More gut renovations in Ravenswood Gardens of Lincoln Square, Waters school district

A quick walk around Ravenswood Gardens reveals many gut renovations in a small area near Waters school. These three multi-units are being converted to single family homes. All photos Eric Rojas, Broker, Kale Realty

The buildings shown above left to right:  2445 W Eastwood Ave , Chicago, Illinois 60625 sold for $650,000 in June of 2014.  2449 W Eastwood Ave , Chicago, Illinois 60625 sold for $582,500 in March 2014 and 2451 W Eastwood Ave , Chicago, Illinois 60625 sold for $550,000 as a foreclosure in July of 2015.  It's rare to see (3) adjacent two-flats all bought by different parties being de-converted to single family homes at the same time.  2451 West Eastwood has signage advertising the sale but there is no MLS listing at this time.

I wrote about another three adjacent home conversions on West Wilson a few weeks ago. Two are owned by the same developer in this case.

Ravenswood Gardens sales area in Lincoln Square

2016 Ravenswood Gardens sales
Only (2) residential properties have closed in Ravenswood Gardens neighborhood thus far (March 8th) in 2016.  2500 W Eastwood Ave Unit 1, Chicago, Illinois 60625 closed for $299,000. The renovated two beds, two baths unit (no dedicated parking) is in an attractive vintage building. 4733 N Artesian Ave,  Chicago, Illinois 60625 closed for $671,000.  The classic two-flat building sold quickly.

2015 Ravenswood Gardens sales
(6) single family  homes sold in 2015.  The highest sale was 4540 N Artesian Ave , Chicago, Illinois 60625 for $975,000.  The lowest sold single family home in 2015 was 2444 W Eastwood Ave , Chicago, Illinois 60625 for $545,000.

(27) multi-units (2-4 units) sold in 2015 with a median price of $600,000.  That's a big number for a small area and points to the demand and desire to develop single family homes (as mentioned above) in the Lincoln Square area. Only (15) multi-unit buildings sold in 2014 and (9) buildings sold in 2013 in Ravenswood Gardens.

50 condo units sold in 2015 with a median price of about $266,500.

Rockwell Crossing in Ravenswood Gardens features local shops and dining.

Good school district, the North Branch of the Chicago River, desirable Lincoln Square retail and dining, CTA trains, good local private school options and vintage housing stock on tree-lined streets have pushed prices and sales up in Ravenswood Gardens.