paulaarnett.com - SNN - Nov/Dec 2004

SNN - Nov/Dec 2004

SNN Nov Dec 2004

Sheffield neighborhood real estate market activity*

BY PAULA ARNETT

Reports are that the real estate market is slowing down. However, according to the results in the accompanying chart, that has not been true for the first three quarters of this year. 202 properties of single-family, condominium and multi-unit types have closed during this period as compared to187 of the same property types in same period last year, an amount 8% greater, and ranking similar to 2002’s numbers of 206 transactions in the same 9-month period.

Actually, the year-end results showed 245 closed properties in 2003 compared to 240 in 2002 so last year did catch up with and surpass 2002 in the last quarter of 2003. Currently there are 31 transactions pending in the final quarter of 2004.

FYI’s
A property in the 2100 block of Dayton that sold for $1,112,500 in October 2003 has been torn down. A property in the 2000 block of Sheffield that sold for $673,000 in January 2004 has been torn down and is being rebuilt as a 3-unit building. A property in the 2200 block of Dayton that sold for $1,425,000 in June 2003 has been torn down.
A triple-lot property in the 2300 block of Janssen that sold for $2,250,000 in October 2004 has new construction of two buildings.

Paula Arnett, GRI, CRS, ABR, is a Broker Associate with Sudler (formerly Beliard Gordon and Partners) 1650 N Wells, and a member of the SNA Board of Directors.

*Data compiled from the Multiple Listing Service of Northern Illinois. Sheffield’s boundaries are Armitage on the North, Fullerton on the South, Halsted on the East, and the Chicago River on the West.

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