New: 167 Lincoln Square apartments rise near Mariano's, Ravenswood Metra

 

One of the new Ravenswood Residence buildings looking west on Lawrence Avenue in Lincoln Square. All photos Eric Rojas, Broker, Kale Realty 

The large apartment development at the corner of West Lawrence and North Wolcott in Lincoln Square has taken full shape.  I first wrote about the Chase Bank re-development plan back in 2016. You can see some photos of the original bank building at the link. The four story mixed-use buildings steps from the Ravenswood Metra and surrounding retail are better use than the old bank and surface parking lot. I was walking home from my own grocery shopping when I decided to check back in on the project.

The two four story buildings compromise studio, one and two bedrooms apartment rentals.  

According to Harlem and Irving Companies web site the finished development will feature 167 units.

"Located at 4733 N. Wolcott Ave., The Raven Residences (opening Fall 2022) will feature (two) four-story stylish brick facade buildings. The eastern building fronting Ravenswood will feature 55 luxury studio one-bedroom apartments. The western building will be comprised of 112 opulent studios, one-bedroom units, and two-bedroom units."

You can view the site plan HERE

The new (smaller) Chase Bank branch just to the east has been open for several years ahead of the residential development. The Ravenswood Metra station also sits just west of the development.

Lincoln Square rental apartments

Other nearby newer construction rental apartments have rented quickly for hefty prices.  The 1900 W Lawrence building (Sears redevelopment) has had two bedrooms, two bathrooms rental units lease for $2,500- $3,200 per month over the last 6 months. 

-The highest priced one bedroom rented in the last six months is $2,300/ month at 4540 N Ravenswood.

-The highest rental price achieved in the last 6 months for a two bedrooms, two bathrooms rental apartment is $3,325 at 4700 N Western Ave.

-The highest priced apartment rental  in the last six months is $4,950 at 4540 N Ravenswood, Unit 8, Chicago IL 60640

JUST SOLD! Ravenswood Manor bungalow with awesome family room $700,000

Just sold! 4445 N Sacramento in beautiful Ravenswood Manor and Waters Elementary school district. Our clients made smart improvements and sold the home with multiple offers.  All photos Eric Rojas, Broker, Kale Realty and VHT.com

We recently listed and sold 4445 N Sacramento, Chicago IL 60625 for $700,000.  The home was listed at $649,900 and received multiple offers after a weekend of open houses.  We helped our clients determine the strongest offer terms and things have worked out great.  The buyers are terrific and we're really excited for them as well. Check out the 3D tour and more photos HERE

The classic three bedrooms bungalow has a huge living room with great light.  The entry foyer with gorgeous wood door and stained glass brings the character.

Our clients upgraded the home with professional waterproofing, new family room flooring and this sharp wet bar.  The finished basement space made this house huge. 

Ravenswood Manor Single Family Home Sales

The numbers below show the escalation of unit sales as we entered the phenomenon of the pandemic coupled with historically low mortgage interest rates.

31 single family homes have sold in the Ravenswood Manor neighborhood over the past 12 months with a median price $799,000. 

January 1st to October 15th:

-January 1st 2022 to October 15th 2022, 24 single family homes sold with a median price of $799,000.

-Same period 2021, 23 single family homes closed with a median price of $755,000.

-Same period 2020, 24 single family homes closed with a median price of $620,000.

-2019, only 18 homes closed over the same period with a median price of  $649,000.

-2018, 16 homes sold over the same period with a median price of $741,000.  

If you have questions about selling your home in this current market contact us today! erojas@kalerealty.com

NEW FOR SALE! Old Town condo with attached garage parking $413,999

This 1999 built twelve unit boutique building features an elevator and attached garage. The quiet cul du sac location in the middle of all the Old Town amenities and close to downtown and the lake. 227 W Scott Unit 2W is one of the lowest priced mid-rise two beds, two baths with garage parking in all of Old Town and Near North.

New on the market! Check out this Old Town condo 3D TOUR with everything a buyer asks for: Garage parking, outdoor space, in-unit washer/dryer, two bathrooms and storage! 

More listing details HERE

In the last six months, 34 two beds, two baths condos in buildings with 36 or less units (small multi-unit, mid-rise) have closed in the Near North Community area (including Old Town). The median price of a sold condo is $525,000! Take advantage of the new market conditions and get a great value. 

227 W Scott, Unit 2W, Chicago IL 60610 asking $413,999

Exclusive listing:

Contact Eric Rojas, Broker, Kale Realty

2447 N Ashland, Chicago IL 60614

erojas@kalerealty.com

Sold! Evanston single family home near Metra, shopping

 

We helped our clients secure 2322 W Harrison, Evanston IL 60201 for $995,000 in a multiple offer situation. Photo Jacki Mack, Jameson Sotheby's and VHT.com 

It was a battle! We worked aggressively since early spring to find our clients buy their forever Evanston home around $1M. Four plus bedrooms, big lot, near transportation and shops? Everybody's dream home! We are super excited for our clients. Check out details on 2322 Harrison

This large farmhouse had important updates including and awesome renovated kitchen.

Well located Evanston homes near commerce and transit have been in huge demand for years. Some areas of Evanston offer big city amenities near attractive spacious homes and lots.  It is difficult to secure a well finished four bedroom single family home under $1M near transit.  2232 W Harrison is an eight minute walk to the Central Street Metra Station.  Stop at Backlot Coffee  and many businesses on Central Street to start your day. Three play-lots within a couple blocks! Great schools? Check! 

A large backyard was a top priority for our buyers moving from the city.  How's 57' x 188' sound?

Home Sales

About 50 single family homes have sold within four blocks of 2322 Harrison Street. The median price of a closed house in this area is $820,000. Homes with at least four bedrooms and a primary bathroom suite have a median price of $1,100,000. 

Having four bedrooms AND a primary bathroom suite ups the closed median sales price to $1,100,000 

The double vanity bath with walk-in shower is like new!

Congrats to our clients on their move-up home in beautiful Evanston in the North Shore.  Please contact us to buy and sell in Chicago and the near suburbs. 

Quick look: Highland Park single family home sales

 

Highland Park features a diverse price-point and style of single family homes lining winding, leafy streets. All photos Eric Rojas, Broker, kale Realty

It has been a busy summer for us looking for homes on Chicago's North Shore.  We continue working with clients into this early fall season as market conditions change like the color of leaves! This week we viewed Highland Park single family homes in the $500,000 to $700,000 range.  It's a tough price-point with low inventory. 

Highland Park Single Family Home Sales

370 single family home have sold this year (January 1st to September 16th). The median price of a sold home is about $700,000.  That median price is way up over just a few years ago.

The highest priced sold home this year is 2255 Egandale Road, Highland Park, IL 60035 for $4,500,000.  The lakefront property is one of two houses that have sold for over $4 million this year in Highland Park 

The lowest priced closed home is 1552 McDaniels Avenue, Highland Park IL, 60035 for $210,000 cash.  This small home near downtown and the Metra station sits on a 50' x 97' lot.  

Millard Park and Beach on Lake Michigan at the end of Ravine Road 

Recent Sales 

In 2018, 310 single family homes sold over the same period (January 1st to September 16th) with a median price of $545,000.  That's about $150,000 less than the median price in 2022.

2019, only 274 homes closed over the same period with a median price of $505,000.

In 2020 (the start of the pandemic), 372 single family homes sold with a median price of $535,000.

In 2021, 423 homes sold with a median price of $655,000. The 2021 price jump was huge just as it was in many desirable cities across the country.  

As posted above 370 single family home have sold this year (January 1st to September 16th, 2022). The median price of a sold home is about $700,000.