Lmg, Home Buyer in Chicago, IL

I was told a new condo building was going to be built in 2014 in Logan Sq., what do you think the avg. sq. ft. price would be?

Asked by Lmg, Chicago, IL Sun Sep 8, 2013

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6
Dear Home Buyer,

looks like Jeff did his homework fast and got you your full price answer.
0 votes Thank Flag Link Tue Sep 10, 2013
I looked up the most expensive recent sales in Logan Square on the MLS and found
1941 W Hermitage #3E is shown on the MLS as having "approximately 2600 square feet" and closed for $678,500 with parking. This equates to $261/square foot including parking.

Units at 1933 W Armitage closed at $733,900 and $766,930 according to the MLS. An approximate size was not listed but room sizes were. It appears to me these units are less than 2600 square feet. Assuming these units were 2600 square feet would put the most expensive unit here at $295/square foot.

Assuming that the market further appreciates in this area and that the units you are referencing are similar in size and as luxurious as the recently sold units I referenced. I think an argument can be made that those units would sell at over $300/square foot.
0 votes Thank Flag Link Mon Sep 9, 2013
I would guess 275-$300. Way too many variables for accuracy at this time.
0 votes Thank Flag Link Sun Sep 8, 2013
We dont do price per sq/ft in Chicago. If its new construction, expect to pay a premium.
Web Reference: http://Americorpre.com
0 votes Thank Flag Link Sun Sep 8, 2013
It can vary a lot depending on where in LS it is located and what the developer thinks he can get next year. The average sf is not the typical way buyers value condos. They look at comparables.
0 votes Thank Flag Link Sun Sep 8, 2013
email me at jmichaels@remax.net and I will send you comparables
0 votes Thank Flag Link Sun Sep 8, 2013
There are no "New" Comps " so I would expect a premium price @ near $300 per ft.
Flag Sun Sep 8, 2013
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