Bronzeville Mural

Bronzeville Real Estate Analysis – 2019

Bronzeville Single Family Homes

Bronzeville Single Family Homes sold well in 2019.
A total of 112 homes were sold. This is up 33% versus 2018.
The average selling price for a single family home was $486,975.
The average selling price was up 18% versus the previous year.
The average market time increased by 23 days versus the previous year.

Bronzeville Condos

Bronzeville Condos also sold well in 2019.
A total of 272 condos were sold. This is up 12% versus 2018.
The average selling price for a Bronzeville condo was $199,455.
The average selling price was up 5% versus the previous year.
The average market time decreased by 4 days versus the previous year.

Bronzeville 2 to 4 unit buildings

39 multi-unit properties were sold in 2019.
That is an 8% increase versus 2018.
The average selling price was $341,995.
The average selling price was up 15% versus the previous year.
The average market time decreased by 73 days versus the previous year.

Bronzeville Rentals

244 units were rented in 2019.
That is a 24% increase versus 2018.
The average rental price was $1,530.
The average rental price was actually down 4% versus the previous year.
The average market time increased by 5 days versus the previous year.

Bronzeville Land

19 parcels of land were sold in 2019.
That is a 27% decrease versus 2018.
The average selling price was $90,289.
The average selling price decreased by -44% versus 2018.
However, this may not be an apples to apples comparison.
This is because every parcel of land is a different size.
Land value is driven largely by location, square footage and zoning type.

Summary

Overall, 2019 was a great year for Bronzeville real estate.
The biggest gains were seen in the Single Family Home category.
Values for Single family homes were up 18% in 2019.
This was driven largely by sales of new construction homes.

Multi-Unit properties also appear to be in great demand.
Values are up 15% versus the previous year.
Also, the average time it took to sell a multi-unit property was
cut in half versus 2018.
This is an indication that demand for this property type is high.

Contact Mark

If you have any questions about Bronzeville real estate,
please call or text me at 773-354-6693.

Thanks, Mark Killion
Kale Realty – Chicago, IL
Cell: 773-354-6693
email: mark@markkillion.com
website: www.buybronzeville.com

Mark Killion, Realtor

This analysis is based on data from the MLS.
2016 was another strong year for Chicago rentals.
I analyzed over 18,000 rental transactions!
The report is shown below.

This report shows average rent prices by neighborhood and bedroom count.
The number in parentheses shows the count of units for that cell.
So if you see “$1000 (22)”, it means the average rent was $1,000 and 22 units were rented.

This data is quite interesting.
The average 3 bedroom in the Loop neighborhood is $4,669.
While the average 2 bedroom in the Loop is $2,735.
So if you give up 1 bedroom, you can save almost 2 grand per month.
Another thing to take note of: Loop rents are sky high!

Hopefully you find this information useful.
If you have any questions about real estate, please let me know!

Until the next time,

Mark Killion
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

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Chicago Average Rent Prices by neighborhood and bedroom count – 2016

Chicago Average Rent Prices by neighborhood and bedroom count – 2016

Chicago Average Rent Prices by neighborhood and bedroom count – 2016

Chicago Average Rent Prices by neighborhood and bedroom count – 2016

Average Rents In Bronzeville

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

Bronzeville Rent Analysis – Chicago

Let’s take a quick look at rent prices in Chicago’s Bronzeville neighborhood.
This analysis is based on the 12 month period ending NOV-21-2013.
The picture above shows us the distribution of rent prices in Bronzeville.

The biggest slice of the pie represents the price range of $1,400 to $1,599.
The 2nd largest slice covers the price range of $1,200 to $1,399.
Together, they account for 50% of all rental transactions. So, half of the rentals
in Bronzeville are between $1,200 and $1,599.

A total of 206 units were rented during the last 12 months. So an average of 17
units are rented each month in the Bronzeville neighborhood. Here are the median
rents based on bedroom and bathroom counts:

=====================================
1 bed/1 bath: $837
2 bed/1 bath: $972
2 bed/2 bath: $1,254
3 bed/1 bath: $1,104
3 bed/2 bath: $1,533
3 bed/3 bath: $1,955
4 bed/1 bath: $1,225
4 bed/2 bath: $1,514
4 bed/3 bath: $1,997
========================================

Out of curiosity, I also wanted to compare the average rent for a 3bed/2bath
to the previous year’s amount. This way we can tell if rent prices are rising or
if they are falling.

During the previous 12 month period, a 3bed/2bath rented for $1,483 on average.
So the rent amount has increased by 3.4 % versus the previous year.

Well that’s all for now. I hope you found this information useful. If you are a tenant
looking for a Bronzeville rental, or if you are a landlord looking to rent out your
property, please contact me here.

In closing, I will leave you with a nice picture of a Bronzeville Mural.
This outdoor painting is near 40th and King Drive.

Bronzeville Mural

Until the next time,

Mark Killion
Kale Realty
542 W. Roosevelt Rd
Chicago, IL 60607

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

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Listings Updated: 5/30/2018

Auburn Gresham—8016 S. Marshfield—3 Bed/1 Bath—$1250—Details

Austin—1204 N. Lockwood—2 Bed/1 Bath—$825—Details
Austin—208 N. Waller—3 Bed/1 Bath—$1150—Details
Austin—310 N. Long—2 Bed/1 Bath—$1150—Details
Austin—5214 W. Washington—1 Bed/1 Bath—$1150—Details
Austin—4955 W. Washington—3 Bed/1 Bath—$1200—Details
Austin—310 N. Long—4 Bed/2 Bath—$1575—Details

Chatham—8135 S. DREXEL—1 Bed/1 Bath—$700—Details
Chatham—8144 S. Drexel—1 Bed/1 Bath—$775—Details
Chatham—8331 S. INGLESIDE—1 Bed/1 Bath—$850—Details
Chatham—548 E. 89th—1 Bed/1 Bath—$950—Details
Chatham—8154 S. Drexel—2 Bed/1 Bath—$950—Details
Chatham—8618 S. Ingleside—2 Bed/1 Bath—$1000—Details
Chatham—7928 S. Indiana—2 Bed/1 Bath—$1250—Details
Chatham—8226 S. Drexel—4 Bed/2 Bath—$1400—Details

Chicago Lawn—6840 S. Claremont—3 Bed/2 Bath—$1100—Details

East Garfield Park—2836 W. Polk—3 Bed/1 Bath—$1300—Details
East Garfield Park—3630 W. Polk—4 Bed/1 Bath—$1500—Details

Englewood—5718 S. Green—4 Bed/2 Bath—$1350—Details

Greater Grand Crossing—7331 S. Yale—2 Bed/1 Bath—$850—Details
Greater Grand Crossing—7444 S. Langley—1 Bed/1 Bath—$850—Details
Greater Grand Crossing—7419 S. Maryland—2 Bed/1 Bath—$895—Details
Greater Grand Crossing—6842 S. Calumet—3 Bed/1 Bath—$1000—Details
Greater Grand Crossing—48 E. 75th—2 Bed/1 Bath—$1095—Details
Greater Grand Crossing—6957 S. Princeton—3 Bed/1 Bath—$1200—Details
Greater Grand Crossing—7010 S. Woodlawn—3 Bed/1 Bath—$1200—Details
Greater Grand Crossing—7144 S. Rhodes—3 Bed/1 Bath—$1200—Details
Greater Grand Crossing—7419 S. Princeton—4 Bed/1 Bath—$1200—Details
Greater Grand Crossing—6960 S. Anthony—4 Bed/1 Bath—$1250—Details

Humboldt Park—709 N. TRUMBULL—3 Bed/1 Bath—$1050—Details
Humboldt Park—3920 W. Huron—3 Bed/1 Bath—$1150—Details
Humboldt Park—3802 W. Huron—2 Bed/1 Bath—$1200—Details
Humboldt Park—4026 W. Division—2 Bed/2 Bath—$1200—Details
Humboldt Park—706 N. SPAULDING—3 Bed/1 Bath—$1325—Details

Kenwood—4343 S. Greenwood—4 Bed/1 Bath—$1500—Details

Morgan Park—11118 S. Racine—3 Bed/1 Bath—$1350—Details

Near West Side—2329 W. MONROE—3 Bed/1 Bath—$1250—Details

New City—5323 S. EMERALD—2 Bed/1 Bath—$850—Details
New City—1220 W. 52nd—3 Bed/1 Bath—$1200—Details
New City—1450 W. GARFIELD—3 Bed/1 Bath—$1250—Details

North Lawndale—4154 W. 21st—2 Bed/1 Bath—$1050—Details
North Lawndale—1252 S. Kedvale—3 Bed/1 Bath—$1075—Details
North Lawndale—1120 S. Sacramento—2 Bed/1 Bath—$1200—Details
North Lawndale—1241 S. Millard—4 Bed/1 Bath—$1375—Details
North Lawndale—1516 S. Hamlin—4 Bed/1 Bath—$1500—Details

Portage Park—5559 W. Henderson—3 Bed/1 Bath—$1800—Details

Pullman—10450 S. Maryland—2 Bed/1 Bath—$900—Details

Riverdale—13116 S. Forrestville—4 Bed/1 Bath—$1150—Details

Roseland—11348 S. Front—2 Bed/1 Bath—$980—Details
Roseland—10758 S. Edbrooke—4 Bed/1 Bath—$1300—Details
Roseland—10449 S. Wabash—4 Bed/1 Bath—$1395—Details

South Chicago—8714 S. Manistee—2 Bed/1 Bath—$700—Details
South Chicago—8908 S. Burley—3 Bed/1 Bath—$800—Details
South Chicago—8819 S. Saginaw—2 Bed/1 Bath—$950—Details
South Chicago—8720 S. Mackinaw—3 Bed/1 Bath—$1000—Details
South Chicago—8501 S. Crandon—4 Bed/2 Bath—$1195—Details

South Shore—7415 S. Colfax—2 Bed/1 Bath—$759—Details
South Shore—7807 S. SAGINAW—3 Bed/2 Bath—$900—Details
South Shore—2424 E. 78TH—2 Bed/1 Bath—$950—Details
South Shore—7742 S. Colfax—1 Bed/1 Bath—$975—Details
South Shore—2830 E. 77th—3 Bed/2 Bath—$1000—Details
South Shore—7731 S. Kingston—4 Bed/1 Bath—$1000—Details
South Shore—7746 S. Jeffery—1 Bed/1 Bath—$1025—Details
South Shore—2508 E. 78TH—3 Bed/1 Bath—$1100—Details
South Shore—7751 S. Saginaw—3 Bed/2 Bath—$1150—Details
South Shore—7030 S. Chappel—3 Bed/1 Bath—$1200—Details
South Shore—7742 S. Colfax—2 Bed/2 Bath—$1200—Details
South Shore—7742 S. Colfax—2 Bed/2 Bath—$1200—Details
South Shore—7742 S. Colfax—2 Bed/2 Bath—$1200—Details

Washington Heights—9733 S. Emerald—2 Bed/1 Bath—$1400—Details

West Englewood—1235 W. Marquette—2 Bed/1 Bath—$695—Details
West Englewood—1237 W. Marquette—2 Bed/1 Bath—$695—Details
West Englewood—2000 W. 70th—2 Bed/1 Bath—$700—Details
West Englewood—6828 S. Loomis—3 Bed/1 Bath—$1100—Details
West Englewood—6926 S. Marshfield—5 Bed/1 Bath—$1100—Details
West Englewood—6938 S. Ada—3 Bed/1 Bath—$1195—Details
West Englewood—6327 S. Marshfield—3 Bed/1 Bath—$1350—Details
West Englewood—6040 S. LAFLIN—5 Bed/2 Bath—$1500—Details

West Garfield Park—4233 W. Monroe—3 Bed/1 Bath—$1000—Details
West Garfield Park—3835 W. LEXINGTON—4 Bed/1 Bath—$1150—Details

West Pullman—11751 S. Lowe—4 Bed/1 Bath—$995—Details
West Pullman—11751 S. Lowe—4 Bed/1 Bath—$995—Details
West Pullman—12314 S. Wentworth—4 Bed/2 Bath—$1750—Details

Woodlawn—6513 S. Rhodes—2 Bed/1 Bath—$1100—Details
Woodlawn—6023 S. KING—3 Bed/2 Bath—$1300—Details

The data relating to real estate for sale and for rent on this web site comes
in part from the Broker Reciprocity Program of Midwest Real Estate
Data, LLC.

The broker providing these data believes them to be correct, but advises
interested parties to confirm them before relying on them in a purchase or rental decision.

—————————————————————————–
If you would like to schedule a showing appointment,
please send me an email: mark@markkillion.com
You can also TEXT me at 773-354-6693.

If you are an owner, and you would like to purchase an
investment property, or you need to rent out one of your units,
please send me an email: mark@markkillion.com
You can also TEXT me at 773-354-6693.

Until the next time,

Mark Killion
Real Estate Broker
Kale Realty
2447 N. Ashland
Chicago, IL 60614
Cell: 773-354-6693
Fax: 773-904-0044

p.s. The quickest way to reach me
is by text message @ 773-354-6693.

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

Keywords:
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House Made of Money

Here is a great article that I wanted to share with you.
It talks about the opportunity for investors to realize
high cap rates with single family home rentals:

Chicago Tribune Article

Also, I know of a portfolio of 8 single family homes
available on the south side. They are all rented out
and they are grossing $15K each. The taxes are low,
and at an asking price of $520K, you are looking at cap
rates between 13% and 15%!

Also, if you are just looking to pick up one or two properties
to start your portfolio, I can assist you with that as well.
You can get a brick single family home, with 3 bedrooms,
already rented out for $1,250 per month.
Those will run about $90K per house. And, these are turn-key
investments!

Until the next time,

Mark Killion
Kale Realty
542 W. Roosevelt Rd.
Chicago, IL 60607

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

Chicago Single Family Home Rental

I recently read that Chicago Cap Rates for Single Family
Homes average about 7%.
This may be true when you look at the city as a whole.
But cap rates vary greatly by neighborhood.
Cap rates can be 5% downtown and 15% in some areas on the South Side.
Cap rates in many parts of the city are much higher than the
quoted 7% average.
In areas that are experiencing appreciation, the cap rates will be lower.
In areas where appreciation is flat, but rental demand is high,
the cap rates are 10+.

For example, a single family home was purchased in the South
Shore neighborhood, on 72nd and Luella, in 2011 for $60,000.
Let’s estimate that $25,000 was spent to rehab it.
It is now renting for $1,650 per month. Your Gross annual income
is $19,800.You figure that you are spending about $7,500 per year
on taxes, water, insurance, and property management.
That gives you a Net Income of $12,300 per year.
When we divide $12,300 by $85,000, we arrive at an attractive
cap rate of 14.5%. That is double the average stated cap rate for Chicago.

If any investors out there are interested in learning more about investing
on the South side of Chicago, please let me know.

Until the next time,

Mark Killion
Kale Realty
542 W. Roosevelt Rd.
Chicago, IL 60607

Send me a note!

Visit me online: www.773property.com

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Downtown Chicago Condo Rentals

Hello to all my blog readers out there.
I wanted to take a quick look at rental activity
in the West Loop.

This analysis is based on properties that were rented
from JAN 1st 2013 through MAR 20 2013 in the West Loop
Chicago neighborhood.

This year we had 93 units rented through March 20th.
Last year we had 108 units rented through March 20th.
So the total number of units rented has decreased by 16%.

However, the median rental price this year was $2,125.
Last year, the median rental price was $2,000.
This represents a rental increase of 6.25%.

Here is the median rental price breakdown by unit size:

Studio = $1,300
1 bedroom = $1,752
2 bedroom = $2,558
3+ bedroom = $3,643

For this analysis, I considered the West Loop to run
from 400 West to 1600 West and 700 South to 500 North.

If you are thinking about renting a condo in the West Loop
neighborhood, this analysis should give you a good idea
of current market values.

If you need assistance with renting a condo, please send
an e-mail to mark@markkillion.com

I help owners and tenants!

Until the next time,

Mark Killion
RE/MAX Premier Properties
1205 N Dearborn
Chicago, IL 60610

Send me a note!

Visit me online: www.773property.com

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2012 Chicago Rent Price Analysis

The above analysis should be useful for tenants and investors alike!
Where else can you get good rental data like this?

I created a database just so I could analyze over 10,000 rental transactions
for this post and give it to all my blog readers out there!

Until the next time,

Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!

Visit me online: www.773property.com