IRVING PARK SINGLE FAMILY HOMES MARKET REPORT

Irving Park Single Family HomeIRVING PARK MARKET REPORT as of April, 2016

RECENT MARKET CHANGES
The market is shifting in Irving Park. According to Midwest Real Estate Data, the average sales price of 4 bedroom, 4 bath homes in Irving Park is $610,000. There are many more rehabbed homes coming on the market this year, including two new or rehabbed homes just put on the market in the mid to upper $500K ranges.

The overall observations and feedback from recent showings and open houses in the neighborhood.

Competition: Very recently buyers are seeing more new or newly rehabbed homes for sale, and we are seeing price reductions on those homes. While these homes may be slightly smaller or on smaller lots, they do offer the most current features and finishes. This goes beyond paint color, into cabinetry, amenities such a master baths with dual sinks and separate whirlpool tubs in addition to showers. Buyers viewing these homes begin to develop a taste and preference, and it may become their new standard. Here is a recent home for sale in the neighborhood.

A recent article in Illinois Association of Realtors quotes a 2017 U.S. Houzz Kitchen Trends Study, stating that Millenials prefer modern or farmhouse styles, while boomers prefer traditional. Both groups prefer white cabinets, grey walls and stainless appliances.

Closed Properties: In studying those homes most recently under contract or closed, the trend is for buyers to choose homes that although slightly smaller than the subject property, rehabbed with new front elevations/porches, and current amenities and features, as well as finishes and color schemes in white, grey and blue. Common elements are expanded master baths as well as stainless appliance kitchens with glass tile or subway tile back splashes, some with high end appliances, and white cabinetry as the new norms.

GREAT OPPORTUNITY TO MAKE A HOME IN OLD IRVING PARK, CHICAGO 60641

Are you looking for an alternative to condo living, but are constrained by a budget that doesn’t qualify you for a nicely finished single family home? Then don’t miss this newly listed, completely remodeled, 3 bedroom 1.5 bath townhome in the lovely Old Irving Park neighborhood. Located on a quiet, tree lined street, it has three levels available for living space. Even better, this townhome qualifies for just 3.5% down, so it’s ideal for first time buyers or move up buyers. As you drive by, please don’t judge this home by the outside. The red brick exterior and picket fence don’t show off the inside, which is updated and absolutely gorgeous. Take the virtual tour at 4118 N Kedvale Unit C.

Whether you work downtown or in the suburbs, you can’t beat this location for commuting. The home is located just a few blocks from the Blue line ‘L’ Irving Park station, a Metra station, and the Kennedy expressway. Shopping and dining are close by in both Irving Park and Portage Park.

You’ll be proud to call this your new home: the main level living room has a fireplace, a new custom kitchen with honed granite counters, new lighting and cabinets, and a new half bath. Upstairs features three bedrooms and a new stone bath. The lower level has a fantastic media room with oversized projection screen, surround sound, and plenty of room for a comfortable wraparound sofa. There’s a laundry and utility room with full sized washer/dryer, newer furnace, and central a/c unit. Call or email Maggie today to schedule a showing at 773 502 1673, or movewithmaggie@gmail.com.


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