The real estate market in the Sheffield neighborhood*

Authored by: 

Although we thought we beat winter with a mild December and January, February’s frigid weather seemed as though it wouldn’t stop.  In spite of the weather, however, this year’s number of contract pending properties in the neighborhood for the first two months exceeds last year’s by 24%, or 36 in 2015 compared to 29 in 2014.  Closed sales have also increased for the same period to 27 in 2015 from 21 in 2014, or 29%.

January 1 through February 28*

No. of Closed Sales

2015

2014

No. of Contract Pendings

2015

2014

Single Family

9

5

Single Family

6

6

Condo

17

15

Condo

27

22

Multi-Units

1

1

Multi-Units

3

1

Land

0

0

Land

0

0

Total

27

21

Total

36

29

           

*Data compiled from Midwest Real Estate Data, LLC (MRED) March 4, 2015

FYI’s

As reported in the January 9-11, 2015 issue of DNAinfo.com Lincoln Park News, three contiguous properties in the 2100 block of Dayton were sold for $4 million in September 2014; lot size is 79’ x 124’.

Paula Arnett is a Broker Associate with Baird & Warner specializing in residential real estate sales for over 25 years.

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