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April 2017 Pilsen Market Update

Posted on Apr 21, 2017

The Pilsen ‘Paseo’

There’s been a lot going on of late in Pilsen.  One of the things some of you may or may not have heard about is the new ‘Paseo’ that will run through Pilsen and Little Village. While this was announced last year, you’ll now see that work is beginning. Already, train tracks have been removed and grass planted from 18th to Cermak. Below, you’ll see a map of the approximate route.

paseo route

Some people are comparing the ‘Paseo’ to the 606 trail in Wicker Park, as both were built from abandoned railroad tracks. Many are watching in anticipation to see whether the ‘Paseo’ will affect property values in the Pilsen area to the extent that the 606 boosted values when it opened.

The North & South section (around Sangamon & Peoria streets) of the trail in East Pilsen probably will have the greatest effect on home values.  The rest of the route through Pilsen along Cermak and Blue Island goes through more industrial type land, but the homes and the buildings to the North of this section will likely benefit some as well.

Regardless of property values, the ‘Paseo’ will be a great addition to the neighborhood of functional public space for all residents to use.  If you want more info on the ‘Paseo’ click here for the press release from the City.

Peoria & 18th St Development

This news is a little bit more recent. The site of the former Centro 18 development, at 18th St and Peoria, has recently been purchased by a group out of New York. While the new owner will still have some zoning hurdles to clear, the likelihood of future development is much higher now. Developing this site could bring in much needed tax dollars and overall I believe it would be a benefit to the community, assuming the developer and the neighborhood groups can agree to a responsible development plan.

Townhomes at Oakley and Blue Island

The  parcel of land that has sat vacant for over a decade and used to be Wozniak’s at the end of Oakley avenue (at 2500 south) seems to be headed for development. Word is that a lot of townhouse are going in there soon.

Michael’s Church Conversion?

The community recently met with a developer who wants to turn St. Michael’s church on 24th Pl into apartments. What a nice use for this old building!? They supposedly have parking issues but hopefully find a way to make this happen.

Pilsen + Plus House – Own One Of The Healthiest and High Performance Homes In The City

Some other exciting news that I’m personally involved in is the Plus House.  Pilsen is leading the way in Green Home Building. We have teamed with a builder to birth a new brand of homes here in Pilsen to great success. We recently closed on two more of these new homes: +Plus House #2 and +Plus House #3.  What’s unique about +Plus House is we’re pending LEED Silver certification on all three recent sales. What does this mean?  Many think of LEED as “green” building.  While this is partially true, the +Plus House implements other healthy factors along with the green features required for LEED Silver certification.  The +Plus House offers thing like no VOC paints, whole home air fresh air system, and chemical “eating” drywall.   LEED also means a third party “audited” the home so it was not just trusty old City inspectors you rely on to make sure the house is quality. Blown door tests are conducted, and the house is checked as it’s built as a quality verification. There are only a handful of homes built to these High Standards in the City Of Chicago and surrounding suburbs. You can read more at MyPlusHouse.com

Our most recent +Plus House sale of +Plus House#3 was at 1625 S Newberry.  This home set the new record for highest single family home sale in all of Pilsen at just over $733,000. It beat the previous high of $700,000 on the same block back in 2008.   We currently have locations on the 900 block of Cullerton where there are a few lots we plan to build on and also another lot on 16th St across from Union Row. This house has a HERS energy efficiency rating better than 95% of Chicago homes. If you have any interest or know anyone interested in these homes feel free to call or text me at ‪312-953-6725.

Newberry Kitchen

Above: The kitchen layout and mail level of the Highly Efficient and Healthy +Plus House.

Active Listings & SOLD!  This is just a small sample.

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Active

1625 S Blue Island – Mixed Use

919 W Cullerton – Single Family

923 W Cullerton – Single Family

1028 W 20th Place 1 – Condo

1621 S Halsted 309 – Condo

643 W 16th St – Single Family

Under Contract

1714 S Newberry –  Single Family – Under Contract

2149 W 19th St – 2 Unit – Under Contract

2344 W 24th Place – 12 Unit – Pending

2347 W 24th Place – 8 Unit – Under Contract

Recently SOLD

2353 W 18th Place – 6 Unit – SOLD

1625 S Blue Island – Mixed Use – SOLD

1013 W 16th St 1W – Condo – SOLD

1625 S Newberry – Single Family – SOLD

915 W Cullerton – Single Family – SOLD

1704 S Morgan 1 – Condo – SOLD

2148 W 18th St – 4 Unit – SOLD

1627 S Newberry – Single Family – SOLD

1643 S Throop – 5 Unit – SOLD

1625 S Newberry – Land – SOLD

1627 S Newberry – Land – SOLD

919 W Cullerton – Land – SOLD

1341 W 16th St – Single Family – SOLD

2247 S Oakley 2 – Condo – SOLD

923 W Cullerton – Land – SOLD

2219 W 18th Place – 3 Unit – SOLD

1907 S Canalport – 2 Unit – SOLD