Irving Park is full of architectural gems. The neighborhood is one of the most historic parts of the city and is a favorite among many buyers looking for a single family home close to downtown.
One historic home that is currently on the market in Irving Park is listed at $1.5 million. The historic home was built in 1873, and has been meticulously restored to its original state, with many modern features as well.
The 5,800 square foot home offers a total of four floors. Amenities include a recently restored kitchen, wine cellar, and library. There are a total of five bedrooms, including a master suite in the recently converted attic.
The real estate market in Irving Park is experiencing the same problems seen in many neighborhoods around Chicago.
According to the Chicago Association of Realtors, Irving Park is experiencing a decline in the total sales of single family homes.
During the second quarter of 2007 a total of 55 homes were sold, down just over 10 percent from the same period of 2006.
The average sales price was also down 4 percent during the same period.
However, the market for luxury homes and condominiums in Chicago remains active. There are several projects underway that will bring ultra luxurious condominiums to the market.
Projects such as the Chicago Spire, Mandarin Oriental, and Canyon Ranch all continue despite recent problems in the real estate market around the city.
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