A slideshow from Dennis Rodkin shows off the latest round of Chicago Lawn homes to be rehabbed through HUD’s Neighborhood Stabilization Program. Mercy Portfolio Services is improving a dozen homes near 63rd and Western, and plans to lease or sell them this spring, in hopes of demonstrating “a positive type of concentration” in the neighborhood, in the words of one Realtor.
Chicago Lawn, which is bounded by the train tracks east of Western Avenue, Central Park Avenue, 59th Street, and 75th Street, was home to 61,406 people in 2000. The 2010 Census counted 55,628 residents, representing a net loss of 5,778, or 9.4%, over the decade.
At least 321 single-family homes have sold in Chicago Lawn (including Marquette Park) over the past 12 months, at prices ranging from $6,000 to $280,000. The median sale price over that time was $60,000, according to Redfin. Additionally, 169 multi-unit buildings sold at a range of $10,000 to $277,500, and a median price of $52,500.
On Wednesday afternoon, 229 single-family homes were for sale in the area, from a $12,500 board-up to “one of the greatest properties in the neighborhood,” priced in the $320s. More than 80 multi-unit buildings are available from $24,900 to $895,000.