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Wicker Park Penthouse Listed for $1,375,000, Sells in 8 Days

propertyimage2037 W. Division photo photo courtesy of Cook County Tax Assessor

Published by real estate contributor Thyra DeCicco


Bucktown's Damen Avenue has recently begun pushing the envelope of condominium pricing. Several months ago a Noah Properties Development at 2138 N. Damen Avenue listed a 3 bedroom condo for $1,100,000 and the condo sold before it could even be added to the MLS. Immediately thereafter another 3 bedroom condominium at 2138 N. Damen Avenue was listed for $1,499,000. 

And now it seems Wicker Park condominium values may also be starting to skyrocket as well. The building at 2037 W. Division Street sold back in 1983 for just $35,000. In 2007 it went into foreclosure and the original turn-of-the-century building was demolished in 2011 after structural issues were discovered. The property was recently purchased by local developer LG Construction + Development located at 2234 W. North Avenue and a new development is underway; targeted for completion this year.



 Rendering courtesy of LG Construction + Development

According to LG Development's website, the new development heading just West of Damen Avenue on Division Street will include 4 units + a penthouse ranging in price from $480,000 to $1,300,000. Three of the units are currently listed by Jameson Sotheby's International Realty.

According to the Multiple Listing Service, the 4 bedroom penthouse unit (pre-construction) was listed for $1,375,000 and was under contract in just 8 days. Two additional units are currently active on the Multiple Listing Service; another 4 bedroom 3 1/2 bath condo with a private elevator entrance and 2 car attached garage currently listed for $1,175,000...and Unit #2 which is a 3 bedroom 2 bath condo with 1 garage space listed for $640,000. No square footage was provided for these condominiums via the MLS. The penthouse unit is currently listed as a Pending Sale so we will keep you posted on the sale prices of these condominiums.

Commercial space is planned for the ground level. No information is available at this time about the commercial space and whether or not those spaces have been leased.




 

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