Humboldt Park home price growth outpaces Lakeview and Logan Square: report

The neighborhood’s median single-family home price shot up by 45 percent since last year
August 21, 2018 01:30PM

A row of greystone apartment buildings in Humboldt Park (Credit: iStock)

The median single-family home price rocketed up in the Humboldt Park neighborhood by 45 percent during the first seven months of this year compared to 2017, far outpacing more conventionally trendy neighborhoods on the Near North and Northwest sides.

By comparison, average home prices were about 17 percent higher in Logan Square, 17 percent higher in Lakeview and 16 percent higher in Avondale from January to July than they were during the same period last year, according to an Aug. 14 report by the Chicago Association of Realtors cited by Crain’s.

The city overall saw a 2.1 percent bump in median home prices during the period studied.

Immediately west of gentrified Wicker Park, the area surrounding the 219-acre Humboldt Park saw demand crank up when the completed 606 Bloomingdale Trail cut across it in 2015.

Crain’s pinpointed newly-built houses east of the park that recently sold for around $900,000, and similar homes to its west selling in the $500-$800,000 range.

Humboldt Park has become a proving ground for Logan Square-based developer Mark Fishman’s tactic of buying up Near Northwest Side courtyard buildings, renovating them and raising rents. [Crain’s] — Alex Nitkin