Known for its mansions, proximity to the lakefront, and proximity to DePaul University, Lincoln Park is home to some of Chicago’s priciest housing stock. While the median sale price in the neighborhood has fluctuated in the past several months, it still tends to come in well above $600,000. For a condo, that’s not so bad, but buyers looking for a detached home will almost always find they need more cash on hand.
The good news: Winter typically ushers in a slower housing market and lower prices. From a posh co-op to a vintage Victorian, here are four properties to keep an eye on in the area.
If you’re a fan of Victorian finishes — and want a coveted address on ritzy Burling Street — a million bucks will land you this vintage brick four-bedroom in central Lincoln Park. (Just make your move before a developer does.)
If a standalone isn’t a priority, consider this 3,100-square-foot penthouse in the old St. Michaels High School building. The place may need some work, but given its proximity to the lakefront and two heated garage spaces, the investment could be worth it.
Here’s a charming co-op unit in the historic Shakespeare Building, steps from the park and complete with classic but high-end finishes. It does come with some caveats: Co-ops generally require owners to occupy their unit, as opposed to renting them out.
It’s still possible to find a move-in ready detached single-family home in Lincoln Park, but there aren’t a lot of options. If you’re set on buying a home of your own, and have the budget to do so, this vintage storefront-turned-residence is quite the get. Filled with light, airy finishes, the home opens up into a lushly landscaped backyard.
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