Lincoln Square vacant lot sells for over $1.2 million

5135 N Lincoln Ave, Chicago, IL 60625 in Lincoln Square sold recently for $1,231,000 (all photos Eric Rojas, Broker, Kale Realty)

I visited a client on the 5000 block of North Lincoln Avenue in Lincoln Square to consult on their condo sale this spring.  I took the occasion to walk by a recent vacant lot sale on this booming mixed use strip.  5135 North Lincoln Avenue  measuring 50'x140' closed on February 16th of this year for $1,231,000.  A mortgage of over $1.7 million is taken out on the property.  No building permit has been issued yet from my search of public documents on chicagocityscape.com but a six to eight unit condo building is likely. 

In the past twelve months 22 condo units closed along 4900 North Lincoln Avenue to 5200 North Lincoln Avenue with a median price of  $565,000. Whoa. All stats gathered from MREDLLC.com by moi.