Number of Sheffield* Real Estate Sales Decline

BY PAULA ARNETT

The total number of transactions in the Sheffield neighborhood has declined by 15% for the same period in 2006 vs. 2005 as shown on the accompanying chart. But prices have increased: the average selling price of a single family home rose by 17% and market time increased by 9%; the average selling price of a condominium rose by 2% and market time increased by 26%; the average selling price of a multi-unit property rose by 7% and market time increased by 2%; and the average selling price of vacant land rose by 6% but market time decreased almost one half.

Latest FYI’s

A property in the 1300 block of Webster that sold for $795,000 in March 2006 has new construction and, according to the posted building permit, it will be a wood frame single family residence. In the 2100 block of Clifton, two adjacent properties (with no recent sale information available), will be brick single family homes according to the posted building permits. Also, in the 2100 block of Clifton, a property that sold for $1,050,000 in March 2005 has new construction. A property in the 2300 block of Janssen that sold for $850,000 in February 2006 has a foundation for new construction. A property in the 2000 block of Magnolia has new construction that sold for $1,020,000 in March 2004 according to the Cook County tax records. And a property in the 1100 block of Webster that sold for $940,000 in June 2004 became a store and 3 condos that sold for $525,000, $609,000 and $639,000 this year.

My 8th Annual 2004-2005 Sheffield Neighborhood Real Estate Market Report has been published and is in the mail. It contains charts, dollar volumes, and statistics of real estate sales in the neighborhood, as well as the Street-by-Street analysis showing what sold on your block, when, and at what price. Many more details are contained in this new report including the new Vacant Land category. If you have not yet received it and would like a copy, please contact me at 773.294.1822 or This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

*Sheffield’s boundaries are Armitage on the South, Fullerton on the North, Halsted on the East and the Chicago River on the West.

Closed Jan 1-Oct 15, 2006
	Number	Average Sold Price	Highest Price	Lowest Price	Mkt Time
SF	35	$1,651,678	$3,448,750	$530,000	169
Condo	152	$484,871	$1,449,000	$219,500	104
MU	5	$1,072,900	$1,300,000	$804,500	172
VL	2	$1,100,000	$1,425,000	$795,000	57
Total	194
Closed Jan 1-Oct 15, 2005
	Number	Average Sold Price	Highest Price	Lowest Price	Mkt Time
SF	40	$1,407,662	$2,725,000	$755,000	154
Condo	165	$474,466	$945,000	$229,500	82
MU	15	$997,166	$1,425,000	$525,000	167
VL	4	$1,031,250	$1,200,000	$810,000	119
Total	224

Data compiled from the Multiple Listing Service of Northern Illinois.

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