There are many good choices for vintage, historic homes in Lakewood Balmoral. Two homes have closed this month, but there are still good options available for those interested in buying a single family home.
The best value in this Andersonville historic district is 5210 N Magnolia. The home was purchased just a couple years ago, but it has many upgrades and improvements since that date. It’s essentially in move-in condition, with a new kitchen, newly landscaped yard, newer baths, and more. At the same time, it retains some lovely vintage details. Like most Lakewood Balmoral homes, it’s on an oversized lot.
It’s not my listing — I’m endorsing it to my buyers who are looking for a lovely home in a fantastic neighborhood. Lakewood Balmoral, as an historic district, is an opportunity for buyers of single family homes to make improvements that could “freeze” their property taxes for 8 years. Qualifying vintage single family homeowners can also donate a “facade easement” that provides substantial savings on federal income taxes.
List Price
Sold Pr
Closed Date
MT
Beds
Baths
Lot Dim
5210
Magnolia
$875,000
45
4
2.1
37.5X123
5340
Lakewood
$925,000
103
6
4.1
37.5X123
5418
Magnolia
$975,000
36
6
2
40 X 120
5440
Magnolia
$1,190,000
99
5
2.1
50X123
5407
Lakewood
$875,000
$835,000
7/15/2010
88
3
3
35X123
5312
Magnolia
$925,000
$900,000
6/30/2010
28
6
3.1
25X123
To see this or other homes for sale in Lakewood Balmoral, contact Anne Rossley at Prudential Rubloff.
Interested in learning more about tax savings in historic districts, or learning more about donating your facade for federal tax savings? Call today!
View homes in the neighborhood – check out the slide show in this blog’s sidebar. Lakewood Balmoral is an historic district in Andersonville, part of the Edgewater Community.
View Lakewood Balmoral Historic District in a larger map
Not only is my new listing on Edgewater Beach (now Osterman Beach) a spectacular home at an incredible price — it also has a PAST!
Playboy Magazine Designed my Condo Listing?
Penthouse room opens to private roof terrace
According to JT, the Beach Point Tower garage man for 48 years, the penthouse at 5801 N Sheridan Road was modified by Playboy Magazine for photo shoots! I suppose it makes sense – the roof terrace is totally private on two sides, with 500 square feet exposed to miles and miles of gorgeous, panoramic Lake Michigan and sandy beach views. The penthouse room (2nd floor den/bedroom) was added to the 21st floor roof, and one could call the secluded room with (now decorative) fireplace and floor to ceiling windows very sexy…
This is the ONLY 21st floor room and the only rooftop terrace in the building. Exclusive!!!
This lore adds to what’s already a great story…
The current owners of over 20 years have lovingly rehabbed the 1800 square foot unit. The 20th floor ‘C’ unit’s original 2nd bedroom was opened up, creating an expansive 31′x25′ great room Living Room with unobstructed north and east views– you’re immediately struck by the sweeping panoramic views of Lake Michigan.
The kitchen is new, with granite counters, glass front cabinetry and decorative shelving. Archways in and out of the dining area create architectural interest and an added granite buffet makes entertaining a breeze. The condo is a study in clean lines — new tile, new wood floors and moldings. The two baths are fresh, too — white on white tile in interesting patterns sparkle. You’ll have trouble deciding if you’ll decorate in black/chrome minimalist Mies-type style or” tropical vacation” seagrass comfort!
Beach Point Tower is a gem as well!
The intimate, 90 unit building sits directly on Osterman Beach, where the lakefront bike trail begins (and yes, the building has a bike room!). Because there is no public parking for this beach, it feels like you’re at a resort with the open and vast stretches of sand and relatively few people, even on a hot weekend afternoon! The building takes advantage of this situation – a large party room overlooks the beach. You can also entertain in the patio garden with picnic tables and barbecue grill, which directly accesses the beach but retains privacy for your guests. The new park district’s beach house opened July 4th.
The building is just one block north of Lake Shore Drive, and it’s just a short walk to the red line El stop. The 136, 151, and 147 Express are just outside the door. Whether you’re commuting north, south, or west — the location is great!
Why are you waiting? See this condo!
This once-in-a-lifetime property will not be available long. Contact Anne Rossley at Prudential Rubloff (773-620-5333) for a showing appointment.
Chicago real estate, particularly condo sales, have been hit by the recession. At one point, the glut of condos on the market exceeded 2 years worth of inventory. Condo sales lagged, priced dropped, and it was a buyers’ market all around.
In June, however, condo sales were great! On Chicago’s north side*, 825 units closed. This is a jump of 30% over May 2010 and 139% increase over June 2009. YES – June condo sales were more than twice the June transactions of 2009!!
Currently, there are 6167 condos for sale. With an average of 825 sales per month, we are looking at a 7.5 month supply of condos for sale — WAY BELOW the 2 year inventory of last year.
Prices?
The median price of the 825 condos sold was $ 322,000. While it’s below the high water mark of 2008 ($ 350,000) it’s below 2005 prices ($ 317,500).
Real estate is about location and product. If it’s a sought-after neighborhood and a product buyers like (floor plan/amenities/condition) at a fair price, then it will sell.
So what am I predicting for the future?
I can’t say condo sales will remain this strong. The buyers’ tax incentive certainly played a role in making sales happen. Interest rates are so attractive today, however, that if you’re looking to buy for the first time or change homes — now is certainly a good time to investigate the possibilities.
Call Anne Rossley today to learn more about how you buy Chicago Real Estate.
Single Family Home sales on Chicago’s north side are looking better all the time. In June, 79 homes closed on Chicago’s north side*, a steady increase over the previous month, and up 84% over June 2009.
Median prices declined this month- down 7% vs the previous month (May ‘10) and -16% vs June 2009.
Come see these great condos for sale
in Albany Park!….
4830 N Albany 2N- $ 275,000
Open 11 – 1 pm
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