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

Bronzeville Real Estate Sales Analysis – Chicago 2016

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

EQUAL HOUSING OPPORTUNITY

Average Rents In Bronzeville

SINGLE FAMILY HOMES:

Bronzeville Home

There are currently 54 Single Family Homes on the market in Bronzeville Chicago.
The median asking price is $358,000.
The asking price ranges from $50,000 to $599,000.
Out of these 54 properties, 31 are already under contract.
“Under contract” means that the owner has already accepted a written offer.
The median asking price of the properties under contract is $389,900.

To view available listings for Single Family Homes in Bronzeville, click here.

CONDOS:

Bronzeville Condo

There are currently 152 condos on the market in Bronzeville Chicago.
The median asking price is $100,000.
The asking price ranges from $24,900 to $495,000.
Out of these 152 properties, 31 are already under contract.
The median asking price of the properties under contract is also $100,000.

To view available listings for condos in Bronzeville, click here.

TWO TO FOUR UNITS:

Bronzeville 2 To 4 Unit

There are currently 30 “Two to Four Unit” properties on the market in Bronzeville Chicago.
The median asking price is $249,900.
The asking price ranges from $99,000 to $575,000.
Out of these 30 properties, 12 are already under contract.
The median asking price of the properties under contract is also $194,000.

To view available listings for “Two to Four Unit” properties in Bronzeville, click here.

MULTI-FAMILY (5+ Units):

Bronzeville Multi-Family

There are currently 8 “Multi-Family (5+ Unit)” properties on the market
in Bronzeville Chicago.
The median asking price is $770,000.
The asking price ranges from $250,000 to $1,899,999.
Out of these 8 properties, 2 are already under contract.
The median asking price of the properties under contract is also $250,000.

To view available listings for “Multi-Family (5+ Unit)” properties in Bronzeville, click here.

VACANT LAND:

There are currently 35 Vacant Lots on the market in Bronzeville Chicago.
The median asking price is $65,000.
The asking price ranges from $15,000 to $1,475,000.
Out of these 35 properties, 5 are already under contract.
The median asking price of the properties under contract is also $45,900.
To view available listings for Vacant Land in Bronzeville, click here.

RENTALS:

Bronzeville Rental

There are currently 44 Rentals on the market in Bronzeville Chicago.
The median asking price for a rental is $1,450.
The asking price ranges from $675 to $3,500.
Out of these 44 Rentals, 7 are already under contract.
The median asking price of the rentals under contract is also $1,150.

To view available listings for Bronzeville rentals, click here.

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

The real estate market is really picking up these days.
There is less inventory on the market compared to a year ago.
There are also less foreclosures on the the market.
The market is changing to a seller’s market.
Let’s take a quick look at sales in Chicago’s Bronzeville
neighborhood.
This analysis is based on sales from 01/01/2013 — 04/30/2013.

SINGLE FAMILY HOMES

16 Single Family homes were sold. The median selling price was $225,000.

CONDOS

42 condos were sold. The median selling price was $50,000.

LAND

5 vacant lots were sold. The median selling price was $15,000.

Multi-Family

2 Multi-Family properties were sold. The median selling price was $255,000.

Two to Four Units

12 properties were sold. The median selling price was $97,000.

Rentals

77 properties were rented. The median rental price was $1,325.

Hopefully you found this information useful.

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

* Updated MAY-21-2010

I haven’t analyzed the Bronzeville Chicago rental
market in a while.

If you rent a Bronzeville condo, it will give you
at least a year to become familiar with the area.
The Bronzeville area is still in redevelopment stage.
But, it already has a lot to offer. An increasing
amount of restaurants and businesses are coming
to the area. There are plans to add a new grocery
store (and development) near 39th and State.
This will be a huge $50 million dollar project.
This development will have a positive impact on local
real estate values and the quality of life. It will
be anchored by Milwaukee Grocer “Roundy’s”.

You also have trendy restaurants in Bronzeville.
For example: “Chicagos Home of Chicken & Waffles” on
39th and King Drive. Also, the “Cuisine of the Diaspora”
is coming to 51st and Prairie. It will have five venues,
including: Cecelia’s (southern breakfasts), the
Bronzeville Jerk Shack, Majani 310 (vegetarian), and a
Smoke House and Grill.
The complex will also be home to “Bronzeville Fresh Produce”.

Bronzeville real estate values should also benefit
from its proximity to Hyde Park, the University
of Chicago, and IIT.

BRONZEVILLE RENTALS

According to the MLS, as of MAY-21-2010,
there are 54 condos for rent in the Bronzeville area.
The average rental is a 3 bed/2 bath for $1,500 per month.

(interesting note: prices have dropped about 5% since
my last analysis in AUG 2009)

The condos typically have central air. They also have a
microwave, dishwasher, and a Washer and Dryer in the unit.
The more expensive units have granite counters, maple cabinets,
hardwood floors, and stainless steel appliances.
Some units also include one parking space.

Let’s review the last 3 months of the Bronzeville Rental market.
This analysis is based on units that were actually rented.
Whether you’re an owner thinking about leasing your condo, or
a tenant thinking about renting one, this will give you
a good idea of current rental prices. Either way, I can
assist you with your next Bronzeville Rental! 8)

TYPE……..AVERAGE_RENT
————————–
1 Bedroom………..$938
2 Bedrooms………$1245
3 Bedrooms………$1507
4 Bedrooms………$1755
5 Bedrooms………$2650
___________________________

——————————————————
If you would like more information on leasing a
Bronzeville rental, please feel free to contact me.
I provide FREE assistance to renters and buyers.
I provide competitive rates to owners.
Until the next time…

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

EQUAL HOUSING OPPORTUNITY

The market for Bronzevile Condos is still holding
its on. It is still a buyer’s market, but I feel that
most buyers are sitting on the sidelines. Most
are waiting for the market to bottom out. But,
unfortunately, we won’t know we hit bottom until
after the fact. By then, the best deals will be gone.

But, at any rate, I thought it would be a good idea to take
a look at the Bronzeville condo rental market. I haven’t
posted any info on Bronzeville rentals in a while.
If you rent a Bronzeville condo, it will give you at least a
year to become familiar with the area. The Bronzeville
area is still in redevelopment stage. But, it already has
a lot to offer. An increasing amount of restaurants and
businesses are coming to the area. There are plans
to add a new grocery store to the mix as well.
Bronzeville real estate values should also benefit from its
proximity to Hyde Park, the University of Chicago, and IIT.

If you would like to buy, but you’re short on cash,
renting a condo will give you time to save your
down payment. If you’re lucky, you may
even find a Rent-with-Option-To-Buy. Right now,
condo financing is pretty tight. Most lenders are
looking for at least a 10% down payment and a 700
middle credit score. A 20% down payment would be ideal.
That way, you wouldn’t have to pay for Private Mortgage Insurance.
Private Mortgage Insurance is becoming very expensive these days.

BRONZEVILLE RENTALS

According to the MLS, as of Mar-25-2009, there are 105 condos for
rent in the Bronzeville area. The average rental is a 2 bed/2 bath
renting for an average of $1,438 per month.

The condos typically have central air. They also have a microwave,
dishwasher, and a Washer and Dryer in the unit. Some units include
one parking space.
_________________________________________

Click a link to view available Bronzeville and Hyde Park Rental listings!

1 BED / 1 BATH

2 BED / 2 BATH

3 BED / 2 BATH

3 BED / 3 BATH
—————————————–
If you would like more information on leasing a
Bronzeville rental, please feel free to contact me.
I provide FREE assistance to renters and buyers.
Until the next time…

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

EQUAL HOUSING OPPORTUNITY