As part of south Chicago's rich cultural history, The Gap is a small neighborhood primed for revitalization and development. Close to Lake Michigan and the Loop with convenient transportation options and plenty of affordable housing opportunities, The Gap is a hidden south side gem that is brimming with new construction, in addition to a renewed interest in its classic row houses. A respectable number of restaurants cover all the basic cravings – get a slice from a Chicago-based pizzeria, or order up a Cajun catfish dish with a Midwest twist.
The Gap Real Estate and Neighborhood Information
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The Gap Real Estate
There’s not much to The Gap neighborhood—seeing as it covers less than five square blocks of land—but sometimes the quaintness of a small subdivision can bring more beauty and comfort than a larger neighborhood. Such is the case in The Gap. Traditional brick and stone two- and three-story row houses line many of the residential streets in The Gap, with stone stoops leading up from the sidewalks to small porches, some big enough for a chair or two. While most of these elegant homes occupy vintage buildings boasting classic masonry work and attractive limestone accents, a slew of contemporary designs have made an appearance in The Gap giving the neighborhood a boost of modernity and freshness. But whether you prefer the vintage look or something that’s been newly built, homeowners will find that most of these row houses offer renovated interiors with the latest upgrades included refurbished hardwood flooring and granite kitchen countertops.
In general, a row house or detached single-family townhome in The Gap neighborhood starts in the upper $200,000s with a lot of options in the four-hundred thousand dollar range. Of course, if you want to splurge there are plenty of properties listed for between $600,000 and $900,000. With four or five bedrooms and multiple floors, these large Chicago homes provide ample living space for families that want to remain close to the city’s center but need a bit more leg room. Of course, not every homeowner is concerned with having tons of space. Not to worry, The Gap offers plenty of condos situated in a variety of buildings from four-story walkup flats to high-rise units with far-reaching views of the city. Many of the larger condominium complexes in the neighborhood are located along the neighborhoods main thoroughfares, namely Michigan and Indian avenues, King Drive and Calumet Avenue. Typically, the price for a one-bedroom unit hovers in the low to mid $100,000s, adding another bedroom into the mix will bring the price point up to between $160,00 and $330,000. There are some three-bedrooms available for under $300,000 in The Gap, but really you’re probably looking at paying more like four-hundred thousand or more for a place this size.
The Gap market trends
The average sale price of a home in The Gap is represented by the chart to the right. The red line indicates the average price based on the total time frame selected in the drop-down window. The blue line indicates the average sale price for the particular month within that time frame. For more detailed information on The Gap sign up for the trends report below or contact your Dream Town broker.
The average number of days a home in The Gap spends listed for sale is represented by the chart to the right. The red line indicates the average number of days based on the total time frame selected in the drop-down window. The blue line indicates the average number of days a home spent on market during the particular month within that time frame. For more detailed information on average market listing times in The Gap sign up for the trends report below or contact your Dream Town broker.
The average sale price of a home compared to its listing price in The Gap is represented by the chart to the right. The black line indicates the baseline listing price for homes during the time frame selected in the drop-down. The red line indicates the difference between the average listing price and the average sale price during the particular month within that time frame. For more detailed information on The Gap sign up for the trends report below or contact your Dream Town broker.
The total number of listings in The Gap is represented in the chart to the right. The red line represents average number of days based on the total time frame selected in the drop-down window The blue bar represents the current number of listings during the particular month of that time frame. For more detailed information on The Gap sign up for the trends report below or contact your Dream Town broker.
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