What can you get for $1 million in Lincoln Park? Your options are limited
It’s true, $1 million is a lot of money. But if you’re buying a home in Chicago’s Lincoln Park neighborhood? It might not stretch that far.
That’s the takeaway from a recent story in Chicago Magazine that looked at what $1 million will buy in Lincoln Park.
As the story says, the median sales price for homes in this expensive neighborhood tends to come in above $600,000. But many homes — especially if you’re looking for a single-family home and not a condo — will cost far more than that price. Remember, the median price is that price at which half of the homes sell for less and half for more, which means half of the homes in Lincoln Park will sell for more than $600,000 and half for under that figure.
What can you buy now for about $1 million in Lincoln Park? Chicago Magazine points to a vintage brick four-bedroom home at 2672 N. Burling Street N, which is listed for $995,000. The home has four bedrooms and plenty of Victorian finishes, according to Chicago Magazine.
You can also buy a penthouse unit at 1660 N. Hudson Avenue for $999,900. This condo unit is 3,100 square feet and sits atop an old high school building. It also comes with two heated garage spaces.
There’s also the co-op unit at 2244 N. Lincoln Park West, Lincoln Park’s historic Shakespeare Building, that is selling for $999,000.
As you can see, it’s not easy finding less expensive homes in Lincoln Park. If you’re willing to spend big that’s not a problem. But if you’re on a tighter budget, the good news is that Chicago has plenty of neighborhoods from which to choose. No matter if you’re a single buyer, a young family or an empty nester, you can find the right neighborhood for your budget. You just have to work with a REALTOR® who knows the city.