The other day I passed some clients’ former 2 bedroom condo in Lincoln Park. They sold it last year and took advantage of this market to move up to a newer 3 bedroom condo in the South Loop. Out of curiosity, I took at peek at where 2 bedrooms condos in their former building are now selling – well below what they got for their condo!
A check of the Lincoln Park 2 bedroom condo market for the first quarter of this year shows a median sale price drop of 6.8% compared to a year ago.* The median price dropped from $392,000 to $365,250. Even more dramatic is the change in the number of units sold, down 69% from 77 to 24 in the first quarter!
Lincoln Park continues to be one of the most desirable areas in Chicago. If you’d like to take advantage of lower prices there, contact me!
*Based on Midwest Real Estate Data, LLC (MRED) Data
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
