More than half of Edgewater’s condos closing below $100K

1234 W Bryn Mawr Ave, ChicagoSixteen of the 26 condo closings recorded in Edgewater since the turn of the new year have been below $100,000. These five-figure homes have ranged from a one-bedroom / one-bath at 5815 N Sheridan Rd, which closed for $35,000, to an 1,100 square-foot two-bedroom / one-bath at 5739 N Ridge Ave, which closed for $99,000.

The highest sale price for an Edgewater condo this year is $385,000, for a 2,000 square-foot three-bedroom / three-bath in Lakewood Balmoral’s “only new condo development,” a rehabbed four-unit building at 1234 W Bryn Mawr Ave (pictured here). The building sold for $850,000 in June 2008, and the unit came on the market in March 2010 for $449,900.

Seven single-family homes in Edgewater have sold from the $290s to $940s, and one townhome has sold in the $440s.

Current median list prices and average market times in Edgewater are $168,800 and 148 days for condos; $289,000 and 124 days for townhomes; and $475,000 and 135 days for single-family homes.

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