Bronzeville Condos – Sales Analysis – Chicago

The condo market in Bronzeville is trending up.
As we can see from the charts below, sales prices have been steadily increasing
since 2011. This is great news for Bronzeville condo owners.
And buyers can take comfort in knowing condos are still relatively affordable in Bronzeville.

Due to strong rental demand in the area, owning a condo may even be cheaper than paying rent.
The average selling price for a 2bed/2bath condo, in 2016, is about $91,000.
The average selling price for 3 bedroom condo, with 2 baths, is about $143,000.

As of 12/3/2016, there are 17 3bed/2bath condos on the market for sale in Bronzeville.
The median asking price is $154,000.

As of 12/3/2016, there are only 7 2bed/2bath condos on the market for sale in Bronzeville.
The median asking price is $160,000.

If you are thinking about buying or selling a condo in Bronzeville, let me know!
You can text me: Mark Killion 773-354-6693.

bronzeville_chicago_condo_analysis

Bronzeville 3bed/2bath condo sales analyis - Chicago

Bronzeville 3bed/2bath condo sales analysis – Chicago

Until the next time,

Kale Realty
2447 N. Ashland
Chicago, IL 60614

Office: 312-939-5253
Cell: 773-354-6693

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

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Newport Condos – 4800 S. Chicago Beach

Let’s take a look at sales trends for the Newport Condos in Kenwood, Chicago.

Newport Condos - 4800 S Chicago Beach

Newport Condos – 4800 S Chicago Beach

Sales Trends for 1bed/1bath units

Sales Trends for 1bed/1bath units

Sales Trends for 2bed/2bath units

Sales Trends for 2bed/2bath units

Sales Trends for 3bed/2bath units

Sales Trends for 3bed/2bath units

If you are thinking about buying or selling a condo in Newport Condos,
this should give you a good idea of current values. For a more
detailed analysis, please contact me.

p.s. I have a beautiful 1bed/1bath unit, at Newport Condos, for sale at $90,000!

Until the next time,

Mark Killion
Real Estate Broker
Kale Realty
24 Hour Voice Mail: 312-242-1822

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

773property.com Logo

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Bronzeville Real Estate Update

Bronzeville Real Estate Sales Analyis

Bronzeville Real Estate Sales Analyis

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Grand Boulevard (Bronzeville) Condo Sales in 2015

Bronzeville Condo Sales in 2015

Let’s take a look at last year’s condo sales in Grand Boulevard, Chicago.
Grand Boulevard is also referred to as “Bronzeville”.
Grand Boulevard comprises the southern half of Bronzeville.
Douglas makes up the northern half of Bronzeville.
This analysis is based on transaction data from the
MRED Multiple Listing Sytem.

Overall, it was a good year for condo sales in Bronzeville.
A total of 148 condos were sold. Here is the breakdown:

– 1 Studio condo sold for $105,000
– 5 One Bedroom condos sold for a median price of $72,500
– 45 Two Bedroom condos sold for a median price of $59,500
– 83 Three Bedroom condos sold for a median price of $105,000
– 14 Four Bedroom condos sold for a median price of $141,000

If you are thinking about buying or selling a condo in Bronzeville,
this should give you a good idea of current values. For a more
detailed analysis of Bronzeville Real Estate please contact me.

Until the next time,

Mark Killion
Real Estate Broker
Kale Realty
24 Hour Voice Mail: 312-242-1822

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

773property.com Logo

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Average rents in Bronzeville

Average Rents in Bronzeville

Average Rents In Bronzeville

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Price Trend for single family homes sold in Bronzeville Chicago

Price Trend for single family homes sold in Bronzeville Chicago

Price Trend for single family homes sold in Bronzeville Chicago

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Average Rents in Chicago by neighborhood (2015)

I decided to analyze Chicago rent prices.
This analysis is based on rentals from 2015.
I analyzed over 17,000 closed rental transactions!
This might come in handy if you are thinking about
investing in a certain neighborhood.
It also helps when you are looking to rent out an apartment.
Let me know if you have any questions.

Until the next time,
Mark Killion
Real Estate Broker
Kale Realty
773-354-6693
Visit me online: www.773property.com

Average Rents in Chicago by neighborhood

Average Rents in Chicago by neighborhood

Average Rents in Chicago by neighborhood

Average Rents in Chicago by neighborhood

Average Rents in Chicago by neighborhood

Average Rents in Chicago by neighborhood

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Downtown Chicago – Condo Sales Analysis (2015 vs. 2014)

Downtown Chicago - Condo Sales Analysis  (2015 vs. 2014)

Downtown Chicago -Condo Sales Analysis (2015 vs. 2014)

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Chicago Investment Properties on Instagram

Mark Killion - Chicago Investment Properties

Mark Killion – Chicago Investment Properties

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Economic News – December 2015

Wall Street Journal - Financial News

Wall Street Journal – Financial News

Current Economic News

I spend a lot of my time reading financial news. I figured I would start sharing some
of the interesting tidbits that I come across.

1) Home Construction in the U.S. picked up last month both for apartments and single-family homes.

2) The Fed will increase its benchmark interest rate from near zero
to between .25% and .5% and increase it slowly over the next three years.
Investors were pleased and sent stocks soaring. The impact this rate hike will
have on mortgage rates remains to be seen. I suspect that mortgage rates will
raise modestly over the next several months.

3) December 2015 was the best month for auto sales in the last decade.
This is another sign that the economy is doing well and customer sentiment is high.

4) The University of Chicago will build a new trauma center in Hyde Park. The university
hopes to start construction in Summer 2016. The project may last two years. The
trauma center will be built near 57th and Cottage Grove.

5) The cook county tax base grows after six years of decline. The estimated value
of real estate in the county rose 11% year over year. The current estimated value
of real estate is $460 Billion.

6) Airbnb, the new leader in short-term housing, is launching a pilot program to give
landlords a 10% cut in revenue generated from their properties. It turns out that
many tenants are renting their own apartments on the popular website.
Many landlords are upset, because they feel this violates the lease.
I recently read a story where a tenant in New York somehow turned his two
bedroom apartment into a ten bedroom apartment (those had to be some tiny rooms).
The tenant then moved out and started renting the small bedrooms on Airbnb
for $35 per night.

7) Chicago sets a new record for foreign investment. International investors paid
3.27 billion for properties so far in 2015. The last record was set in 2013 at
2.18 billion dollars. Apparently Chicago real estate is looking more attractive
to foreign investors.

Until the next time,
Mark Killion
Kale Realty
www.773property.com

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