A brief update on Chase Park Commons

Five years ago we Chase Park and Chase Park Commons, a development of seven six-flats fronting the park on Clark Street in Ravenswood. The fifth of the six-flats was under construction and offered for sale at the time. The development can be seen in the background of the Chase Park field house and playground, above.

A sampling of sales at one of the six-flats indicates that units haven’t suffered the same deterioration in value experienced by other developments of the same vintage – 2005.

Three of the six residential units at 4717 N Clark St – there are two ground-floor commercial units – have hit the resale market. Unit 3N was purchased for $384,000 in October of 2005 and resold in October of 2009 for $393,000. Unit 4S, which sold for $425,000 in January of 2006, resold for $387,000 last October. Unit 2N sold for $370,000 in July of 2005 and currently has a contract pending against a list price of $399,000. There have been no foreclosures in the building.

The 1,520 square foot 3-bedroom, 2-bath units included parking and private terraces overlooking the park. The building has an elevator.

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