Diverse Real Estate in Logan Square Makes Neighborhood Attractive to Residents
Christopher MacFarland, a broker associate at Dream Town Realty, was already familiar with Logan Square before he and his family moved there from the Ukranian Village neighborhood. Of course, he had sold houses in the area, but he and his wife used to come to Lula Café as far back as when it first opened in 1999.
That’s kind of the uniqueness of Logan Square. It wasn’t as if young, creative Chicagoans suddenly discovered this neighborhood that stretches west from the I-94 corridor and all of a sudden the shops and restaurants followed. It was really the reverse; the commercial streets revived first, and then city dwellers from elsewhere started coming around and realized what a gem this part of the city was.
“The economy collapsed and we had new businesses succeeding here from 2008 through 2010,” says MacFarland. “That’s when the momentum started to build. You had restaurants and all these unique businesses opening up. Now that the economy and the housing market are turning around, the boom is accelerating.”
The family bought their Chicago home in 2005. It was a 100-year-old, single-family residence of about 2,000-square-feet that they purchased for $325,000. Then came the housing market collapse, but today, MacFarland says, the value of the home has come back and probably even surpassed the purchase price.
“The neighborhood was much less dense than the East Village or the Ukranian Village area, with more single-family homes,” explains MacFarland. “We were able to buy a single-family home for the price of a condo in those other neighborhoods.”
When the MacFarlands moved to Logan Square, the area was just getting a bit of a buzz, but nothing like what’s going on now.
The neighborhood is named for the public square of the same name located at the three-way intersection of Milwaukee Avenue, Logan Boulevard and Kedzie Boulevard. It’s a big area about two miles in width, stretching from Pulaski Road on the west to Western Avenue on the East; from Diversey Avenue on the north to Bloomingdale Avenue on the south.
Within its blocks are a wide assortment of single-family residences and condos, some of which sell surprisingly cheaply (under $250,000), to Victorian mansions that are valued in the seven-figure range.
“Prices are appreciating as there is a lack of inventory,” says MacFarland. “There are only 21 single-family homes in Logan Square active on the market, and another 30 that are under contract. Prices range from $142,000, which was probably a distressed or short sale to something on Logan Boulevard for $1.6 million.”
One benefit of living in Logan Square is being in walking distance to the popular Farmer’s Market and all the new commercial openings—Scofflaw, The Radlar, D.A.S. and Chicago Distilling Company—along Milwaukee Avenue.