Sales in Lakeview of two-flat properties are poised to finish strong in 2011, if new data from The Chicago Real Estate Local is any indication.
Overall, 38 two-flats have closed in Lakeview in 2011, an increase in sales of 46 percent. Though median price was down by $75,000 from 2010, closings ran as high as $1,325,000 for a two-flat at 1445 W. Addison, a grey stone on a 62-foot wide, 134-foot deep lot in the Southport Corridor. There was also an $800,000 closing for a 25-foot by 125-foot lot.
Eight of the 38 sales were distressed, which represents 21 percent of sales.
In addition, 76 multi-unit buildings, or 2-4 total units, have been sold in 2011, which is also a 46 percent increase from 2010, while 14 more multi-unit complexes are under contract.
This is hardly the first report inspired by Lakeview sales, as well. In October, we reported on third quarter sales in the neighborhood, which were up by 35.7 percent, and median sale price, which was up by 21.6 percent.
Of course, it appears that none of the two-flats could match Rosie O’Donnell’s October purchase of 1517 W. Grace Street, a 6,000-square-foot, $2.5 million single-family home.