Oak Forest New Construction-Update 2012

Filed in Oak Forest Sales & Price Trends by on June 3, 2012

Oak Forest New Construction is Booming.

January 2014 Update: There are later posts on Oak Forest.

There are two recent developments in Oak Forest new construction. When I last wrote about Oak Forest new homes there were 15 new homes for sale, and they were mostly in Sec 1 of Oak Forest (the SE corner of Oak Forest, below W 43rd St).

Oak Forest New Home

Oak Forest Home-New 1 Story Home on Chamboard

Oak Forest New Construction

New Oak Forest Home on Chamboard

Oak Forest Home - 4130 Lou Anne Ln

The market today has much expanded. There are 29 “active” homes, plus another 18 in various “pending” stages. These are no longer contained to a particular part of Oak Forest, but all over.

A trend that I welcome is that in addition to remodels of existing single story ranch homes, there are  single-story new construction homes. There are 7 new single story Oak Forest homes active on the market or pending. These range from $399.9K to $532K. These average ~2392 SF in size and $465.4K in price. The higher price per SF is expected for smaller, single story homes.The one pictured here is 1306 Chamboard. It is a 2202 SF 4/2.5/2, priced at $399.9K. See

The 25 active 2-story new homes in Oak Forest range from $500K to $849.7K. Who would have ever believed there would be $800K homes in little Oak Forest? The average price is $686K for a 3860 SF house on an 8200 SF lot, or about $178/SF. Only a couple of these are complete; most are under construction.

The increase in costs year over year is, as always, from rising land costs. An Oak Forest tear-down now sells for $170,000-$200,000. Before the new construction started 7-8 years ago these were $80,000. But, $20/SF is still cheap compared to Heights lots starting at $30/SF.

Avg Price Avg SF Avg Lot Size Avg $/SF
2-Story New Homes $686,000 3863 8230 $177.60
1-Story New Homes $465,400 2392 7400 $194.50

New Oak Forest Home - by InTown Homes
There are another 6-8 recent (4-5 years old) construction homes on the market. These are often the perfect house to buy because the landscaping has matured; window treatments are in place (a big expense on a new home); and all the repairs/bugs taken care of under the builder’s warranty.
Let me know if I can answer questions about Oak Forest and other close-in neighborhoods.
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