Area Profile: Rogers Park, 10th in Sales

The tenth in our weekly series of profiles of the 77 census areas that make up Chicago.

The statistics come from various sources, including the U.S. Census Bureau and the database of ChicagoCondosOnline.com, where you will find a more-comprehensive profile of every area, with a map showing the neighborhoods within each area.

Rogers Park (No. 10 in units sold, No. 31 in median sales price, 2007)

Boundaries: South: Devon; North: Howard; East: Lake Michigan; West: Ridge

Neighborhoods: Rogers Park

Appreciation (2/1/08): 1 yr: 2% (37th of 77 areas); 5 yrs: 40% (26th)

Demographics: College Graduate: 32% (18th of 77 areas); Professional: 34% (23rd); Median Income: $32,000 (55th)

Largest Condo: 1205 W. Sherwin (107 units)

Complete Profile, with map and schools

All Profiles To Date (Near North, Lakeview, West Town, Lincoln Park, Near West Side, Loop, Uptown, Near South Side, Edgewater)

New-Construction Update: 9/22/08

Broadway 3030

Every Monday, with help from our friends at YoChicago.com, we present vital data on five condos under construction.

To view Building Profile on ChicagoCondosOnline.com, click address. To visit developer’s Web site, click name. To use Chicago's best condo search engine to review in-depth profiles of 900+ new-construction properties and find the unit types that meet any combination of 100 preferences, click here.

3030 N. Broadway, Broadway 3030
53 of 53 available, 1-3 BR, $310K-$1.3M, Delivery Sum '10
Developed & Marketed by JFJ Development

2105 W. Concord, 2105 W. Concord
2 of 7 available, 2-3 BR, $499K-$1.2M, Delivery now
Developed by Still Point; Marketed by Jameson

2401-2409 N. Clybourn, Clybourn Green
16 of 16 available, 1-2 BR, $190K-$330K, Delivery now
Developed by CG Development; Marketed by Koenig & Strey

1358-1366 W. Greenleaf, Grove at Greenleaf
3 of 44 available, 2 BR, $178K-$210K, Delivery now
Developed by NA; Marketed by Jameson

2741 N. Sheffield, Rotunda
8 of 8 available, 2-4 BR, $490K-$750K, Delivery Winter '08
Developed by NA; Marketed by Rubloff

Previous New-Construction Updates

Area Profile: Edgewater, 9 in Sales, 23 in Price

The ninth in our weekly series of profiles of the 77 census areas that make up Chicago.

The statistics come from various sources, including the U.S. Census Bureau and the database of ChicagoCondosOnline.com, where you will find a more-comprehensive profile of every area, with a map showing the neighborhoods within each area.

Edgewater (No. 9 in units sold, No. 23 in median sales price, 2007)

Boundaries: South: Foster; North: Devon, Sheridan ; East: Lake Michigan; West: Ravenswood

Neighborhoods: Andersonville, Edgewater

Appreciation (2/1/08): 1 yr: 2% (38th of 77 areas); 5 yrs: 37% (29th)

Demographics: College Graduate: 42% (11th of 77 areas); Professional: 43% (12th); Median Income: $36,000 (45th)

Largest Condos: 5415 N. Sheridan (744 units), 5701 N. Sheridan (541), 6033 N. Sheridan (499), 5445 N. Sheridan (466), 5455 N. Sheridan (465)

Complete Profile, with map and schools

All Profiles To Date (Near North, Lakeview, West Town, Lincoln Park, Near West Side, Loop, Uptown, Near South Side)

16,024 Proposed Condos in Downtown Pipeline

According to the Chicago Tribune, Appraisal Research Counselors, the firm that monitors condo developments in the heart of downtown Chicago (Cermak to North Avenue), has identified 16,024 condo units in the downtown development pipeline, including proposed units on the drawing board. By neighborhood, they are:

South Loop: 8,479 units
West Loop: 2,944
Near North: 1,096
Loop/Lakeshore East: 1,080
Streeterville: 1,000
River North: 885
Gold Coast: 540

Condo/townhouse for-sale inventory in the entire city of Chicago is 15,000 units--about an eight-month supply. ARC's Gail Lissner said that condo units in the downtown area numbered fewer than 50,000 in 1990, and number 98,000 today. By 2010, she predicts there will be 110,000.

How soon will the downtown market recover? Lissner looks at 2010. “We’ll see a record number of units completing construction in 2008 and 2009, and very little that will be completed in 2010, so we’ll be using up this excess inventory," she predicted.

Average Sales Price Increases in 13 Areas

Using data from MRED, the region's multiple listing service, Chicago magazine reports that 23 of Chicago's 77 census areas had 100 or more sales of attached homes (condos and townhouses) during the 12-month period between July 1, 2007 and June 30, 2008.

Of those 23 areas, 13 showed increases in average sales price during the July '07-June '08 period. In descending order of percentage increase, they are:
Loop 67%
Avondale 13%
Near North Side 9%
Douglas 9%
Near South Side 9%
Lincoln Park 8%
Lincoln Square 6%
West Town 5%
Lake View 5%
Near West Side 3%
Logan Square 2%
Albany Park 0.72%
Irving Park 0.44%

The 10 areas with lower prices were: Edgewater (-1%), Grand Boulevard (-4%), Hyde Park (-3%), Kenwood (-1%), North Center (-1%), Rogers Park (-5%), South Shore (-2%), Uptown (-1%), West Ridge (-3%) and Woodlawn (-10%).

As the article notes, "Average prices rose as several high-end projects began delivering condos contracted for as much as three years ago." This was especially true in the Loop, which is benefitting from the opening of Millennium Park.

New-Construction Update: 9/15/08

235 Van Buren

Every Monday, with help from our friends at YoChicago.com, we present vital data on five condos under construction.

To view Building Profile on ChicagoCondosOnline.com, click address. To visit developer’s Web site, click name. To use Chicago's best condo search engine to review in-depth profiles of 900+ new-construction properties and find the unit types that meet any combination of 100 preferences, click here.

235 W. Van Buren, 235 Van Buren
NA of 714 available, 1-3 BR, $190K-$550K, Delivery 2009
Developed & Marketed by CMK

1927 N. Milwaukee, Baer Lofts
6 of 16 available, 1-3 BR, $260K-$550K, Delivery now
Developed by Vesole Group; Marketed by @properties

678 N. Kingsbury, Park Kingsbury Lofts
27 of 27 available, 2-4 BR, $470K-$1.6M, Delivery 2009
Developed & Marketed by Cataldo/Marovitz

2326 W. Giddings, Fountain View
13 of 18 available, 2-3 BR, $430K-$550K, Delivery now
Developed by Terra Firma; Marketed by Koenig & Strey

2028 W. Division, 2028 W. Division
5 of 6 available, 3 BR, $620K-$770K, Delivery 2009
Developed by Ranquist; Marketed by RCR Realty

Previous New-Construction Updates

Bargain: County To Auction 3 Condos Sept. 23

Three condos will be sold to the highest bidders by the county on September 23. They are:

Unit 2C, 3421 W. Hollywood, 1BR/1BA, appraised at $120,000
Unit 3C, 5901 N. Sheridan, 1 BR/1BA, appraised at $155,000
Unit 5905, 505 N. Lake Shore, 1BR/1BA, with deeded indoor parking, appraised at $460,000. [Update: This unit and parking space sold for $418,000, 9 percent below appraised value.]

Viewing dates are Sunday, 9 a.m. to 11 a.m. for the Hollywood condo, and Saturday, 9 a.m. to 11 a.m. for the other two.

The auction will take place at 10 a.m., Tuesday, September 23, in Room 569 of the County Building, 118 N. Clark.

For details, contact the Real Estate Department at the Office of the Public Administrator at (312) 603-0100 or visit cookcountygov.com.

Area Profile: Near South Side, 8th in Sales

The eighth in our weekly series of profiles of the 77 census areas that make up Chicago.

The statistics come from various sources, including the U.S. Census Bureau and the database of ChicagoCondosOnline.com, where you will find a more-comprehensive profile of every area, with a map showing the neighborhoods within each area.

Near South Side (No. 8 in units sold, No. 10 in median sales price, 2007)

Boundaries: South: 26th; North: Roosevelt; East: Lake Michigan; West: Chicago River, South Branch

Neighborhoods: South Loop, Ickes Prairie Homes, Bronzeville

Appreciation (2/1/08): 1 yr: -6% (69th of 77 areas); 5 yrs: 21% (43rd)

Demographics: College Graduate: 43% (10th of 77 areas); Professional: 55% (7th); Median Income: $34,000 (49th)

Largest Condos: 1720 S. Michigan (498 units), 1530 S. State (317), 1901 S. Calumet (302), 1235 S. Prairie (286), 1621 S. Prairie (268), 1400 S. Michigan (268)

Complete Profile, with map and schools

All Profiles To Date (Near North, Lakeview, West Town, Lincoln Park, Near West Side, Loop, Uptown)

New-Construction Update: 9/8/08

The Granville

Every Monday, with help from our friends at YoChicago.com, we present vital data on five condos under construction.

To view Building Profile on ChicagoCondosOnline.com, click address. To visit developer’s Web site, click name. To use Chicago's best condo search engine to review in-depth profiles of 900+ new-construction properties and find the unit types that meet any combination of 100 preferences, click here.

1122 W. Granville, The Granville
50 of 160 available, 2-3 BR, $250K-$390K, Delivery October
Developed by Access Group, Marketed by Koenig & Strey

6 N. Mighigan, Six North Michigan
40 of 104 available, 1-3 BR, $320K-$1.9M, Delivery October
Developed by 6NM Development; Marketed by @properties

24 S. Morgan, Pure
24 of 67 available, 1-2 BR, $250K-$410K, Delivery September
Developed & Marketed by Sunrise Equities

1224 W. Van Buren, VB1224
NA of 187 available, 1-2 BR, $250K-$410K, Delivery now
Developed by NA; Marketed by @properties

1935 S. Wabash, Terrazio
100 of 180 available, 1-3 BR, $190K-$410K, Delivery Summer '09
Developed by Sedgwick; Marketed by Jameson

Previous New-Construction Updates

Area Profile: Uptown, 7th Units Sold, 16th Price

The seventh in our weekly series of profiles of the 77 census areas that make up Chicago.

The statistics come from various sources, including the U.S. Census Bureau and the database of ChicagoCondosOnline.com, where you will find a more-comprehensive profile of every area, with a map showing the neighborhoods within each area.

Uptown (No. 7 in units sold, No. 16 in median sales price, 2007)

Boundaries: South: Irving Park; North: Foster; East: Lake Michigan; West: Ravenswood

Neighborhoods: Margate Park, Buena Park, Ravenswood, Sheridan Park, Uptown

Appreciation (2/1/08): 1 yr: -1% (61st of 77 areas); 5 yrs: 23% (40th)

Demographics: College Graduate: 40% (12th of 77 areas); Professional: 43% (14th); Median Income: $32,000 (53rd)

Largest Condos: 4250 N. Marine (864 units), 4920-80 N. Marine (570), 4343 N. Clarendon (450), 5100 N. Marine (300), 720 W. Gordon (268)

Complete Profile, with map and schools

All Profiles To Date (Near North, Lakeview, West Town, Lincoln Park, Near West Side, Loop)

New-Construction Update: 9/1/08

Opera Lofts

Every Monday, with help from our friends at YoChicago.com, we present vital data on five condos under construction.

To view Building Profile on ChicagoCondosOnline.com, click address. To visit developer’s Web site, click name. To use Chicago's best condo search engine to review in-depth profiles of 900+ new-construction properties and find the unit types that meet any combination of 100 preferences, click here.

2545 S. Dearborn, Opera Lofts
58 of 93 available, 1-3 BR, $240K-$900K+, Delivery now
Developed by LOACQ, Marketed by @properties

1623 W. Melrose, Citizens State Bank Lofts
9 of 9 available, 1-3 BR, $390K-$630K, Delivery NA
Developed & Marketed by Gary Solomon & Co.

1000 W. 15th, University Commons
18 of 824 available, 1-3 BR, $280K+, Delivery now
Developed & Marketed by Enterprise

2318-28 S. Canal, Canal Crossing
11 of 60 available, 2-3 BR, $240K-$320K, Delivery 11/08
Developed & Marketed by See Y. Wong

1611-1627 N. Wolcott, Urban Sandbox
5 of 8 available, 2-3 BR, $690K-$1.2M, Delivery 2009
Developed & Marketed by Ranquist

Previous New-Construction Updates