You are right that there's little hard data re recent land value transactions in Kenilworth. As you know, prices in Kenilworth depend heavily on lot size and location. Properties east of Green Bay Rd. have always fetched higher prices; however, there are 2 different areas west of Green Bay to consider--the smaller lot streets and streets with larger lots and more upscale homes. In this "western" area, the property at 623 Melrose is under contract, with a final list price of $350,000--it's a 50' x 125' lot. In the same area, there was a property listed at 550 Sterling (but now off the market) for $425,000--same lot size. Still west, there is a property at 523 Greenwood now listed at $1,195,000, having come down a couple of hundred thousand dollars from its original list price--the lot size is 76' x 166' and is on a very strong block of upscale homes.
In order to determine the value of the property you have in mind, it would be essential for me to know more about it and if possible, see it firsthand.
I've lived in the area for many years and would be glad to help you navigate this real estate project. Please feel free to call me at 847-507-8832 or email me at email@example.com.
I would encourage you to have your Real Estate Agent, pull up the sold and active comparable sales for lower end homes on similar size lots & location to the one you are considering. There is a value added component for homes located closer to the Center of Town and in close proximity to Lake Michigan and Parks.
Let me know if I can assist pulling up these comparables for you so you can make an educated decision on an offer and final purchase price.
I can be reached directly at 847-275-5528
David Jaffe-SRES, CDPE
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors