Fourteen land deals closed or went under contract in Lincoln Park this year, and another nine went down in Lake View, compared to a combined 15 in 2009, says Eric Rojas. “People are taking advantage of the market conditions to build custom homes. We are also seeing speculation single family homes hitting the market again within a year from the land, tear down or rehab purchase closing,” he writes.
The number doesn’t include tear-down sales in either neighborhood.
Read more of Eric’s home profiles and neighborhood-specific market reports at Chicago Real Estate Local.