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Sales of luxury homes for sale in Lincoln Park surge

Condos for sale in Lincoln Park Chicago

Luxury homes for sale in Chicago | Lincoln Park

There’s more good news for seller’s in Chicago’s Lincoln Park neighborhood!

Million dollar condos in Lincoln Park

According an article on Patch.com:

“Luxury home sales have skyrocketed in the Lincoln Park for the third quarter of the year, according to a recent report by Remax on Metro Chicago Real Estate. The report revealed that Lincoln Park lead Chicago million dollar sales of attached homes, which includes town houses, condominiums, and co-ops.”

Between July and September 2017, 34 Lincoln Park condominiums sold for a price above $1 million. The average price for these homes was $1.3 million. The new sales data represents a 79% increase for the neighborhood over last year. Quite impressive.

Lincoln Park is located on the north side of Chicago, a few minutes away from Old Town, River North, and Downtown Chicago. Wicker Park and Bucktown are located west of Lincoln Park, while Lake Michigan’s shoreline forms the neighborhood’s eastern border.

Luxury Homes for sale Lincoln Park

Detached single family homes sales were also strong according to the report. In the over $1 million category, Lincoln Park claimed the top spot of all Chicago neighborhoods. In the previous two quarters of 2017, the North Center neighborhood was the leader in luxury homes for sale in Chicago.

45 single family homes sold for an average of $1.6 million in the third quarter. Representing a more modest, but still impressive 7.1% increase over the same period last year.

According to Remax:

“The luxury report is a quarterly analysis of $1 million plus home sales in Cook, DuPage, Kane, Kendall, Lake, McHenry and Will county and is based on data compiled by MLS”

Citywide, Chicago luxury real estate sales in the third quarter totaled 356 homes, representing a almost a 16% increase over last year. However, the median sale price dropped by 3% to $1,324,500.

Other notable neighborhoods for Chicago luxury real estate:

  • Lakeview,  32 sales averaging $1.525 million
  • West Town, 28 sales averaging $1.242 million
  • North Center,  35 sales averaging $1.27 million (+12%)

In the market for luxury homes for sale in Chicago?? View homes for sale including listings of the latest Lincoln Park properties here..

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