Real Estate Broker Steven Rapoport sold the apartment building located at 2519 W Altgeld to cash buyer within first 24 Hours of listing.
The real estate market in Logan Square has shown rapid appreciation over the past few years. In particular over the past year we have seen more activity in the luxury real estate market in Logan Square.
In 2015 the sale price per unit for apartment building in Logan Square ranged from $97,500 to $170,455 with an average sale price per unit of $155,757. In 2016 the sale price per unit for apartment building in Logan Square ranged from $100,000 to $402,625 with an average sale price per unit of $180,870. The average sale price per unit went up 16.2% in 2016 compared to 2015.
Over the past few years the Chicago real estate market has show rapid appreciation. As property performance has improved, capitalization rates have compressed in some cases below rates seen in the pre-recession market. With the threat of new rental inventory entering the real estate market combined with the seemingly inevitable increases in both interest rates & real estate taxes, now is a great time to consider selling.