Market Conditions: Record Low Inventory and Multiple Offers on 820 W. Wolfram in Lakeview
It’s been difficult to find properties to crib on as the inventory continues to drop in the GreenZone.
November and December are usually the low points of the year anyway, due to the holidays and the slower winter market. Sellers wait until January to list to get the spring buyers.
This year, inventory was already at a low in November but it has fallen further. I was wondering if Lincoln Park would eventually fall under a 100 homes, and now it has.
All this data is from a Redfin neighborhood search..
- Lincoln Park: 98 homes
- Lakeview: 165 homes
- Bucktown: 26 homes
- Wicker Park: 23 homes
- West Loop: 115 homes
- Streeterville: 185 homes
- Andersonville: 13 homes
- Hyde Park: 57 homes
- South Loop: 195 homes
For some perspective, when I started this blog in 2007, Lakeview would have 4,000 properties listed on any given day. In the South Loop, during the housing bubble, developers were planning 10,000 new condos (they all didn’t get built before the bust.)
The low inventory in the downtown markets should help boost prices there.
We have already seen low inventory cause bidding wars in the other GreenZone neighborhoods like Lincoln Park and Lakeview.
This townhouse at 820 W. Wolfram in Lakeview just came on the market this week. If it looks familiar, that’s because we have chattered about it several times over the years.
Built in 1979, it’s one of the front-facing units with “seamless indoor/outdoor” living.
The unit was remodeled in 2014 and last sold in 2020.
From our 2019 chatter which you can read here:
It has a glass wall that opens to a protected, brick walled landscaped garden that faces the street thus the “indoor/outdoor” seamless living.
The kitchen has white modern cabinets with Wolf, Bosch and Subzero appliances and waterfall countertops.
There are frosted sliding room doors and walls of marble.
The third bedroom is on the third floor with the other two bedrooms on the second floor.
This floor has walls of solid glass doors that opened and closed depending on how you want to define the space.
There is no basement.
The townhouse has the other features buyers look for including central air and an outdoor parking space.
The current listing now says:
***MULTIPLE OFFER RECEIVED, HIGHEST AND BEST DUE WEDNESDAY AT 7.
What will this sell for this time with record low inventory in Lakeview?
Will prices continue to soar in 2026 due to low inventory?
Jim Abbott at Baird & Warner has the listing. See the pictures and floor plan here.
Unit #F: 3 bedrooms, 2 baths, no square footage listed once again (but old listings show these townhouses as 1530 square feet)
- Sold in April 1990 for $360,000
- Sold in November 1993 for $197,000
- Sold in August 2013 for $80,000 (according to public records)
- Renovated
- Sold in August 2014 for $775,000
- Sold in October 2018 for $715,000
- Sold in May 2020 for $705,000
- Currently listed at $825,000
- “Multiple offers, highest and best due”
- No assessments because it’s fee simple
- Taxes are now $12,448 (they were $9,362 in 2019, $11,220 in 2018 and $6916 in 2014)
- Central Air
- Parking included
- Washer/dryer in the unit
- Bedroom #1: 17×15 (third floor)
- Bedroom #2: 12×11 (second floor)
- Bedroom #3: 12×11 (second floor)
- Kitchen: 18×9 (main floor)
- Living room: 15×14 (main floor)
- Walk-in-closet: 8×6 (third floor)
- Laundry: 3×3 (main floor)
- Terrace: 20×15








