About 110 homes sold east of Western Avenue with a median price of about $645,000. This is almost a $300K difference between east and west of Western Avenue.
Two blocks within Western Avenue shrinks the gap to $70K
11 homes sold for a median price of about $440,000 within two blocks west of Western Avenue this year (as of 12/21/11).
18 homes sold within two blocks east of Western Avenue for a median price of about $510,000.
Shops, cafes and bars on West Division Street in West Town (Wicker Park neighborhood)
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Comparable new construction single family home prices is in our estimate are 30% to 40% lower just by crossing Western Avenue. The portions of West Town east and west of Western avenue are roughly the same size. However, our guess is the land east of Western Avenue has about 20% more housing (developed land). The western portion of West Town has the huge 207 acre Humbolt Park and a large industrial and Metra train depot that eat up land. The actual build-able land does not really effect the home prices in this comparison.
All photos Eric Rojas and Bob DePalma, Realtors and Brokers. Data gathered on MREDLLC.com our local MLS, and all analysis and estimates Eric Rojas Realtor and Broker.
