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Plush homes hike sales average

133 Dempster

133 Dempster

The sale of a mansion near the lake and of the Central Street site for a new condo project helped boost the average selling price of properties in Evanston last month.

133 Dempster

The sale of a mansion near the lake and of the Central Street site for a new condo project helped boost the average selling price of properties in Evanston last month.

133 Dempster

133 Dempster St. (County Assessor photo)

In the most expensive sales last month a mansion at 133 Dempster St. changed hands for $4.1 million and the developers of a recently approved condominium complex on the site of the shuttered Evanston Theater complex on Central Street closed on that property for $3.53 million.

Average price

The average selling price was $547,078 in March, compared to $395,093 a year ago. For the most recent 12 months, the average selling price now stands at $543,950, up 19 percent from the prior year period.

A total of nine properties sold for over $1 million. They also included two more homes near the lake — 1119 Judson Ave. for $2.05 million and 1124 Sheridan Road for $1.795 million — as well as a portion of the site of a planned shopping center at 2424 Oakton St. that sold for $1.6 million.

Despite the increase in average selling price, the number of property sales in March continued to lag year ago levels. The 138 sales last month was a 12 percent decline from the 148 sales in March 2006. For the most recent 12 months the average number of monthly property transactions is down 4.2 percent from the prior year period.

Transactions

The city anticipates raising $4.06 million from the Real Estate Transfer Tax in the fiscal year that started last month. March collections from the 0.5 percent tax on property tax sales were $355,601, a bit more than the monthly average needed to reach that target.

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