Not All Neighborhoods Depreciating

September 2, 2009

Daily Real Estate Updates

sudler-sothebys-logo02 Sept 2009 ? In keeping with yesterdays theme of ?Is your neighborhood appreciating or depreciating?? here are a few more popular Chicago neighborhoods and their year-to-date sales for 2008 vs 2009 (January 1 through September 2nd): These averages are for 2 bedroom / 2 bath condos only:

Lakeview 2008: 429 condos sold with an average sale price of $410,000, In 2009 that number dropped to 212 sold with an average sale price of $382,000.

Lincoln Park 2008: 203 condos sold; average sale price $441,000. In 2009: 126 condos sold, average sale price $415,000

North Center 2008: 84 condos sold, average sale price $353,000. 2009: Good news for North Center: 55 condos sold but average sale price increased to $367,000.

Chicago is a patchwork of neighborhoods. It?s unfair and inaccurate to generalize the appreciation or depreciation of the entire city when it?s comprised of 77 official community areas and over 200 neighborhoods, each with its own intricacies and real estate values.

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About Nancy Gaspadarek

With over nine years in the Chicago real estate market, Nancy continues to enjoy the momentous and exciting process of helping her clients buy and sell homes. Nancy believes that the relationships & friendships that she has developed over the years are priceless. In 2007 she made the decision to partner with Catherine Brennan and the two are collectively known in the industry as The G and B Team. ?It was the best move I could have made?, Nancy says, ?Having a knowledgeable and reliable business partner to counter balance your strengths and have a shared passion to provide top notch service and expertise to all our clients is such a blessing.? Nancy graduated from Florida State University in Tallahassee, where she received a four year scholarship and was the captain of the woman's volleyball team for four years. Nancy has lived in downtown Chicago for over 14-years in a variety of neighborhoods. Her free time is usually spent playing tennis, golf & running/biking along the lakefront. She participated in the 1998 Chicago Marathon and has competed in a number of triathlons as well. She volunteers with The Friends of Blaine School in Lakeview, as well as Umoja Student Development and loves to travel as much as possible. You can contact Nancy at 773.259.9353 or

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