Get a Victorian 2-Flat in Bucktown for Under $450,000: 2232 W. Lyndale
This brick Victorian 3-bedroom 2-flat at 2232 W. Lyndale in Bucktown just came on the market for $442,000.
I know many of you are looking for 2-flats so you can live in one unit and rent out the other.
This building was built in 1891 on a smaller than standard Chicago lot of 24×100.
However, it does have a 2-car garage.
The building has many of its original vintage features including original trim and built-ins.
The building consists of the following units:
- Unit #1: 2/1 on the first floor with window a/c and garage parking. Currently rented for $1250 a month.
- Unit #2: 1/1 on the second floor with central air and garage parking. Currently rented for $1425 a month.
There is laundry and storage in the basement.
The listing says the tenants pay all utilities except water and building insurance.
Does this building make investment sense?
Ron Knoll at @Properties has the listing. See more pictures here.
2232 W. Lyndale: 3 bedrooms, 2 baths, 2-flat, 2 car garage
- Sold in May 2002 for $480,000
- Sold in June 2011 for $425,000
- Currently listed for $442,000
- Taxes of $8520
- Rental income of $32,100
Is that dishwasher from the 1970s?
If Redfin is correct, it is listed for $435,000. Although currently rented, Idon’t know who your renters would be. It’s not close to the El so would that rule out a good portion of potential renters?
convert to SFH?
“It’s not close to the El so would that rule out a good portion of potential renters?”
.6 mile. Not “close” but not genuinely far. Also, typical renter here works in the hood and/or rides a bike, no? Bigger question is $1425 for a 1 bed–Really? Here?? With that kitchen???
“convert to SFH?”
Seems reasonably likely, depending on basement height, and strucural issues.
“convert to SFH?”
We went to an open house next door over the weekend. Looks like it will be a very nice home when it is done. Not sure about the price though. It WAS on the market for $899 before the current realtor got involved and jacked up the price… http://www.redfin.com/IL/Chicago/2234-W-Lyndale-St-60647/home/13357662
“It WAS on the market for $899 before the current realtor got involved and jacked up the price…”
Jacked UP the price?
What do we have here?
Could it be?
Could we have one here?
Try not to get too excited, it could be some other cheap imitation…
But still…
The telltale signs of everyone’s favorite??!!??
YES!!!
Viva Zaskowski!!!
Don’t be disappointed that it’s only had 1 change since March. Tony Z is just gearing up for the spring price-changing season. I’d expect no less than 4 reductions and 3 increases before the month is up.
Apr 10, 2012 Price Changed $939,900 — MRED #0013558
Mar 08, 2012 Listed (New) $949,900 — MRED #08013558
Sep 07, 2011 Sold (Public Records) $220,000 -12.7%/yr Public Records
Sep 01, 2011 – Delisted (Expired) — — MRED #4
Aug 30, 2011 – Price Changed * — MRED #4
Aug 30, 2011 – Relisted (Reactivated) — — MRED #4
Jun 27, 2011 – Price Changed * — MRED #4
Jun 24, 2011 – Price Changed * — MRED #4
Jun 07, 2011 – Price Changed * — MRED #4
May 31, 2011 – Price Changed * — MRED #4
May 17, 2011 – Price Changed * — MRED #4
May 17, 2011 – Relisted (Reactivated) — — MRED #4
May 13, 2011 – Delisted (Temporarily No Showings) — — MRED #4
May 11, 2011 – Price Changed * — MRED #4
May 09, 2011 – Price Changed * — MRED #4
May 06, 2011 – Price Changed * — MRED #4
May 06, 2011 – Price Changed * — MRED #4
May 04, 2011 – Price Changed * — MRED #4
May 04, 2011 – Relisted (Reactivated) — — MRED #4
Feb 17, 2011 – Pending — — MRED #4
Dec 20, 2010 – Price Changed * — MRED #4
Dec 18, 2010 – Price Changed * — MRED #4
Nov 19, 2010 – Price Changed * — MRED #4
Nov 11, 2010 – Price Changed * — MRED #4
Nov 09, 2010 – Price Changed * — MRED #4
Aug 17, 2010 – Price Changed * — MRED #4
Aug 05, 2010 – Price Changed * — MRED #4
Jul 29, 2010 – Price Changed * — MRED #4
Jul 20, 2010 – Price Changed * — MRED #4
Jul 15, 2010 – Price Changed * — MRED #4
Jul 06, 2010 – Price Changed * — MRED #4
Jul 01, 2010 – Listed (New) * — MRED #4
Jun 30, 2010 – Delisted (Expired) — — MRED #3
Jun 22, 2010 – Price Changed * — MRED #3
Jun 18, 2010 – Price Changed * — MRED #3
Jun 08, 2010 – Price Changed * — MRED #3
May 22, 2010 – Price Changed * — MRED #3
May 17, 2010 – Price Changed * — MRED #3
May 09, 2010 – Price Changed * — MRED #3
Apr 29, 2010 – Price Changed * — MRED #3
Apr 29, 2010 – Relisted (Reactivated) — — MRED #3
Apr 24, 2010 – Price Changed * — MRED #3
Apr 20, 2010 – Price Changed * — MRED #3
Apr 19, 2010 – Price Changed * — MRED #3
Apr 13, 2010 – Price Changed * — MRED #3
Apr 01, 2010 – Price Changed * — MRED #3
Mar 21, 2010 – Price Changed * — MRED #3
Mar 21, 2010 – Relisted (Reactivated) — — MRED #3
Mar 15, 2010 – Delisted (Temporarily No Showings) — — MRED #3
Mar 12, 2010 – Price Changed * — MRED #3
Mar 10, 2010 – Price Changed * — MRED #3
Feb 08, 2010 – Price Changed * — MRED #3
Feb 02, 2010 – Price Changed * — MRED #3
Jan 25, 2010 – Price Changed * — MRED #3
Jan 22, 2010 – Price Changed * — MRED #3
Jan 15, 2010 – Price Changed * — MRED #3
Jan 04, 2010 – Price Changed * — MRED #3
Dec 02, 2009 – Price Changed * — MRED #3
Dec 01, 2009 – Price Changed * — MRED #3
Nov 18, 2009 – Price Changed * — MRED #3
Nov 17, 2009 – Price Changed * — MRED #3
Nov 12, 2009 – Price Changed * — MRED #3
Nov 11, 2009 – Price Changed * — MRED #3
Nov 04, 2009 – Price Changed * — MRED #3
Oct 31, 2009 – Price Changed * — MRED #3
Oct 28, 2009 – Price Changed * — MRED #3
Oct 25, 2009 – Price Changed * — MRED #3
Oct 20, 2009 – Price Changed * — MRED #3
Oct 18, 2009 – Price Changed * — MRED #3
Oct 07, 2009 – Price Changed * — MRED #3
Oct 05, 2009 – Price Changed * — MRED #3
Oct 04, 2009 – Price Changed * — MRED #3
Sep 24, 2009 – Price Changed * — MRED #3
Sep 23, 2009 – Price Changed * — MRED #3
Sep 21, 2009 – Price Changed * — MRED #3
Sep 18, 2009 – Price Changed * — MRED #3
Sep 17, 2009 – Price Changed * — MRED #3
Sep 16, 2009 – Listed (New) * — MRED #3
Aug 25, 2009 – Price Changed * — MRED #2
Dec 20, 2008 – Delisted — — MRED #2
Jul 21, 2008 – Listed * — MRED #2
Dec 15, 2007 – Delisted — — MRED #1
Aug 27, 2007 – Listed * — MRED #1
Never question Anthony Zaskowski!
“Viva Zaskowski!!!”
Thanks a bangup job for the prior owner (didn’t check–was it AZ–has his fingerprints), keeping the loss to under a quarter mill.
“convert to SFH?”
I would bet on that happening sometime in the next 5 years. People around there are all excited about Pulaski becoming “the next Drummond.” Lots of family interest in that area but, not too many workable 2 flats.
But what I really want know is what is behind those curtains in the living room. Obviously ain’t windows. . .
“Lots of family interest in that area but, not too many workable 2 flats.”
Agree there’s family interest and not that many 2 flats, but is the subject property workable as a 2 flat, in which a family would live in one and rent the other? If it’s interesting as SFH potential, then there are a number of SFHs, including smaller SFHs.
“.6 mile. Not “close” but not genuinely far.”
Certainly far from ideal. I like proximity to Holstein, though feel Lyndale may be a bit of a through street.
““.6 mile. Not “close” but not genuinely far.”
Certainly far from ideal.”
10 minutes, if you walk as fast as the average Londoner:
http://www.theatlanticcities.com/jobs-and-economy/2012/03/why-people-cities-walk-fast/1550/
“but is the subject property workable as a 2 flat, in which a family would live in one and rent the other?”
Can you see a reason why it’s not? I don’t. Obviously, as anon mentions, you need to make sure, but I would wager it would work nicely, and be a helluva lot nicer than the cottages in the area, once completed.
“If it’s interesting as SFH potential, then there are a number of SFHs, including smaller SFHs.”
I see none near this price point. And as above, once converted, this would be much nicer than the tiny cottages you get in this area.
Although, speaking of low price point and unique, I see 2031 w. webster is back on the market. . . hee hee
This definitely rings as a SFH conversion to me. Nearby to the park, nice exterior, beautiful wood inside, etc. If you could get this place for under $400k (which seems very possible) it doesn’t seem to bad all in to deconvert. The only question is whether you’d be alright with the current footprint or would need an addition which would eat up your yard space (of which there is already very little of it looks like…)
I suppose this is a decent price, but the lack of two bathrooms in the owner’s unit kills it for me. I wouldn’t want to own an place and feel like I was still living in the apartment.
I looked at this place when it was on the market 1.5yrs ago. If I remember correct the basement is about 6ft in most parts with a dirt floor. I’m not sure I would want to dig it out either since the lots sit low in this area. The neighboring property at 2234 was a similar structure before conversion and instead of digging, the developer raised the 1st floor deck a few feet. Before the new brick facade was done you could see the floor joists in the front windows.
This place has a very nice brick facade and of the 4 or so similar neighbor buildings this one is the only one with original cornice. For me that’s about the only thing of value if converted to SFH. The original wood trim is OK, but nothing spectacular. I get the feeling this area was relatively poor when it was built up originally.
” ‘but is the subject property workable as a 2 flat, in which a family would live in one and rent the other?’
“Can you see a reason why it’s not? I don’t. …”
Per Redfin page, total finished sqftage of 1,574 … divided between two units. Might work well as 2-flat for single/couple with no kids as owner/occupier. If you have a family, seems it would only work to convert.
Look at street view and you’ll see the marshmallow-encrusted building next door that went for 220k, which I believe is now the new con bldg Zaskowski is representing. Appears that orig bldg was along same line of design of subject property, which is pleasing. Shame somebody didn’t buy it and merely scrape the marshmallow crud off of it.
“10 minutes, if you walk as fast as the average Londoner:”
I used to. No longer.
“Can you see a reason why it’s not? I don’t.”
The units seemed small to me. A family in a 2bd/1ba?
“I see none near this price point. And as above, once converted, this would be much nicer than the tiny cottages you get in this area.”
It may well be nicer post conversion/reno, but there have been pre-reno cottages in the $300s, or below, in the recent past (I haven’t looked in terms of what’s there right now).
Now people are citing anti semetic references on crib chatter??
Ahhh OK
Back on topic – looks like solid units at a decent price
“Never question Anthony Zaskowski!”
I recognize this is unwise, but I question whether Zaskowski is starting to recycle some of his material. Where is the pure original Zaskowski?
http://www.redfin.com/IL/Chicago/1935-W-Dickens-Ave-60614/home/18954054
the atlantic is anti-semetic?
“the atlantic is anti-semetic?”
Walking faster than a waddle?
Londoners?
Deletions?
Looks like some comments got deleted