Sheffield Neighborhood News

November/December 2003

Sheffield Neighborhood Real Estate Activity

BY PAULA ARNETT

As mentioned in my article in the September/October issue of SNN, real estate activity in the Sheffield neighborhood* has changed significantly in the number of single-family homes sales. The accompanying chart shows only 22 single-family homes sold in 2003 whereas 39 sold during the same period in 2002, a decrease of 56%. Condominium sales are even with last year, and multi-unit properties are off slightly from last year.

There are currently 44 single-family homes for sales in the neighborhood with an average list price of $1,960,134. With an average list rice of $504,543, there are currently 85 condominiums for sale. And, with an average list price of $1,088,000, there are currently 12 multi-units for sale. The second chart outlines their lowest and highest prices.

Latest FYI’s

A property that sold in October 2003 for $845,000 in the 2100 block of Lakewood has been torn down, and a new building is being constructed. A property that sold in October 2002 for $680,000 in the 2200 block of Wayne has been torn down and a new building is being constructed. A property in the 800 block of Armitage has been torn down. In both the 2000 and 2100 blocks of Clifton, new buildings are being constructed.

*Neighborhood boundaries are Armitage on the south, Fullerton on the North, Halsted on the east and the Chicago River on the west.

SOLD
Jan 1 thru Sept 30
	2003	2002
Single Family	22	39
Condominium	157	157
Multi Unit	8	10
Total	187	206

 

ON MARKET
	2003
Single Family
#	44
Lowest Price	$629,000
Highest Price	$4,200,000
Average Price	$1,960,134
Condominium
#	85
Lowest Price	$199,999
Highest Price	$1,039,000
Average Price	$504,543
Multi-Unit
#	12
Lowest Price	$695,000
Highest Price	$1,500,000
Average Price	$1,088,000

 

Data compiled from the Multiple Listing Service of Northern Illinois as of October 17, 2003.

Sheffield Neighborhood News

September/October 2003

Sheffield neighborhood real estate activity

BY PAULA ARNETT

The accompanying chart indicates that the real activity in the Sheffield neighborhood* has changed significantly for sold properties when comparing this year to last. The number of closed single-family homes declined by 54% with 31 sales in 2002 and only 17 in 2003 for the same time period. This is most striking because there are currently 37 single-family homes on the market with 12 being under $1 million, 8 priced between $1 million and $2 million, and 17 priced over $2 million.

The number of condominium sales declined by 15% with 137 closed in 2002 and 117 closed in 2003. The highest price for a condominium sale in 2003 of $1,139,000 is actually an attached townhouse and the next highest price sales for a condominium to date is $665,000. The number of multi-unit sales declined by 60%, with 10 closed in 2002 and 6 closed in 2030, but this is not of extreme significance because there are fewer sales of this type of property.

Latest FYI’s

A property in the 2200 block of Lakewood was purchased in June 2002 for $2,700,000 and is currently being renovated. A property in the 1000 block of Webster with no current transaction record is now a side yard. A property in the 2100 block of Magnolia with no current transaction record has been town down and, on the same block, a property was purchased in December 2002 for $800,000 and is being renovated. A property in the 2100 block of Kenmore with no current transaction record has been torn down. Two properties in the 2000 block of Dayton are said to be town down.

*Neighborhood boundaries are Armitage on the south, Fullerton on the North, Halsted on the east and the Chicago River on the west.

	2003	2002			2003
SOLD				ON MARKET
Jan 1 thru August 18
Single Family				Single Family
#	17	31		#	37
Lowest Price	$510,000	$655,000		Lowest Price	$629,000
Highest Price	$2,150,000	$2,700,000		Highest Price	$4,200,000
				Average Price	$1,897,402
Condominium				Condominium
#	117	137		#	60
Lowest Price	$180,000	$160,000		Lowest Price	$227,000
Highest Price	$1,139,000	$727,500		Highest Price	$1,099,000
				Average Price	$480,845
Multi-Unit				Multi-Unit
#	6	10		#	6
Lowest Price	$450,000	$560,000		Lowest Price	$799,000
Highest Price	$1,100,000	$926,250		Highest Price	$1,199,000
				Average Price	$975,000

Data compiled from the Multiple Listing Service of Northern Illinois as of August 18, 2003.

Sheffield Neighborhood News

July/August 2003

Neighborhood Real Estate Activity

BY PAULA ARNETT

Real estate activity in the neighborhood* remains crisp with 122 properties for sale and 89 properties closed since January 1, 2003. See the accompany chart for a breakdown of average prices.

Latest FYI’s

A greystone in the 2200 block of Seminary was purchased in November 2002 for $885,000 and is currently on the market for $2,675,000. A property in the 2100 block of Magnolia was purchased in December 2002 for $800,000 and is currently being renovated. A property in the 20002 block of Fremont was sold for $1,150,000 in April 2003 and is being renovated. The property that sold for $795,000 in May 2002 in the 1000 block of Webster is currently on the market for $2,495,000 and now has a Kenmore address. Also, in the 2100 block of Kenmore, the property that sold for $740,000 in May 2002 is currently on the market for $2,988,000. And, another property in the 2100 block of Kenmore, has been torn down with no current record of a sale or sale price.

*Neighborhood boundaries are Armitage on the south, Fullerton on the North, Halsted on the east and the Chicago River on the west.

January 1 thru June 19, 2003
Sold
Single Family	11
Average Sale Price	$1,152,045
Condo	74
Average Sale Price	$395,819
Multi Unit	4
Average Sale Price	$772,500
Total Sold	89
On Market
Single Family	39
Average List Price	$1,967,482
Condo	77
Average List Price	$480,492
Multi Unit	6
Average List Price	$871,150
Total On Market	122

Data compiled from Multiple Listing Service of Northern Illinois

Sheffield Neighborhood News

May/June 2003

First quarter 2003 vs. 2002 Real Estate Results

BY PAULA ARNETT

The accompany chart shows what has happened in the Sheffield neighborhood* during the first quarter of this year compared to last year. Transactions are down but prices are up. There were fewer properties closed in the first quarter of 2003, 41, compared to last year’s first quarter, 52, or a decrease of 26%. However, prices are up in all categories: single-family prices increased by 6%, condominium prices increased y 2%, and multi-unit properties increased by 18% over last year.

Contract Pendings (those properties under contract but not yet closed) are down by 16%. And listings are up by 15%, a sign that that there are more sellers than buyers.

*Neighborhood boundaries are Armitage on the south, Fullerton on the North, Halsted on the east and the Chicago River on the west.

	1/1/2003 to 3/31/2003	1/1/2002 to 3/31/2002
Closed
Single Family	3	7
Average Sale Price	$941,666	$885,714
Condo	34	43
Average Sale Price	$384,587	$375,286
Multi Unit	3	2
Average Sale Price	$813,333	$684,000
Total Properties	41	52
Contract Pendings
Single Family	8	13
Condo	50	54
Multi Unit	3	4
Total Properties	61	71
Listings
Single Family	33	28
Average List Price	$1,006,333	$931,857
Condo	108	92
Average List Price	$399,270	$389,031
Multi Unit	6	8
Average List Price	$844,333	$699,000
Total Properties	147	128

Data compiled from Multiple Listing Service of Northern Illinois