Streeterville neighborhood condo sales bounce back huge

 

Ohio Street Beach views at Olive Park from 600 N Lakes Shore Drive (all photos Eric Rojas, Broker, Kale Realty)

Streeterville is known for luxury and efficiency condos in one of the most bustling areas of Chicago. Restaurants, personal services, hair salons, top ranked hospitals, museums, beaches and amusements... its got it all. However we all know dense, heavy service areas were particularly vulnerable to the pandemic. How have Streeterville condos sales looked in 2021 versus "normal" years?

Streeterville Condo Sales January 1st to August 15th, 2021

442 Streeterville condos closed so far this year with a median price of $450,000.  These are the highest unit sales numbers and median price year to year since 2015. For a moment it looked like there would be a glut of Streeterville condos and deals to be had.  That opportunity was short lived!

258 condos sold over the same period in the pandemic year of 2020 with a median price of $427,000.  This was a very anxious time early in the crisis with little known about how the year would play out. 

In 2019, 355 condos sold with a median price of $400,000

In 2018, 402 condos sold with a median price of $420,000

2017, 412 condos sold with a median price of $383,000

2016, 412 condos sold with a median price of $415,000

2015, 444 condos sold with a median price of $450,000

Lincoln Square multi-unit sales (two-four unit)

 

We listed and sold 5138 N Claremont in the Lincoln Square neighborhood early this year.  More information on this three-flat here 

We started the year selling a nice true three-flat in Lincoln Square for $815,000 and a two-flat in Alabany Park for $515,000.   Another client in the neighborhood is considering selling their Lincoln Square three-flat building.  Let's take a look at small multi-unit sales in Lincoln Square so far this year. 

Lincoln Square Small Multi-Unit Sales January 1st to August 10th  (two to four unit buildings)

61 multi-unit buildings have sold in Lincoln Square from January 1st to August 10th, 2021. The median price of a sale is about $645,000. 

Two-flats: 43 sales were two-unit buildings with a median price of about $655,000. 

Three-flats: 12 sales were three-unit buildings with a median price of $610,000.

Four-flats: 6 sales were four-unit buildings with a median price of about $780,000.

Two-flats this year have a higher median price than three-flats. Two-flats are more often renovated to a higher finish level and / or feature an "owner's duplex" unit.  This will raise the value over a three-flat building that needs more renovation or updating.

• Over the same period of 2020 (the height of the pandemic and unknowns) only 21 multi-unit buildings sold with a medina price of about $600,000.  
• 30 multi-units sold over the same period in 2019 with a median price of about $670,000. 
• In 2018, 36 multi-units sold with a median about only $545,000.

Help me support student scholarships at Northeastern Illinois University

 

Despite the myriad of challenges we successfully raised money at the 48th NEIU Kane event last year!  

I'm happy to announce I'm once again the Welcome Kit Sponsor for the 49th Northeastern Illinois University Chuck Kane Scholarship Golf  Event.  Kale Realty has really stepped up this year and will bring 12 golfers to our outing! We'll take to the course and slice a drive Monday, August 2nd so you won't have to!

The outing is sold out for this year but you may support student scholarships at your very own public university on the North Side of Chicago.

You may still support student scholarships by going to this link

DONATE NOW 

*Please designate the donation to the 

Alumni Travel Study Scholarship* 

We're helping give every student the opportunity to study abroad!

We're proud of our many years supporting NEIU student Scholarships!

If you have any questions about the event and would like to donate please contact me at erojas@kalerealty.com

Special thank you to Steve Dunnett with Blueleaf Lending for his many years of sponsorship support! Get your mortgage and refinance through Steve!