Missed Out On Buying At The Portals Last Year? Now’s Your Chance: 429 W. Grant in Lincoln Park
We’ve talked about this complex on West Grant in East Lincoln Park called “The Portals on Grant” several times over the years.
Built in the 1970s, the building is about 50 units of 3 bedroom/2.5 bath duplexes with parking, washer/dryer in each unit and central air.
This 3-bedroom “C” Unit at 429 W. Grant recently came on the market.
It might be familiar to those of you who watch real estate in the neighborhood (and especially at the Portals) because it last sold just 16 months ago, in March 2011.
This is a duplex up top floor unit with two balconies.
All three bedrooms are on the second floor.
There is a first floor powder room with a washer/dryer.
The kitchen has granite counter tops and stainless steel appliances.
Many of you have considered these units to be “deals” in the past because they were selling for under $400,000 and were in the Lincoln school district.
This unit sold for $388,000 just 16 months ago.
It has been listed for $41,000 above the 2011 purchase price at $429,000.
That is $29,000 higher than a sale in 2006, at the peak of the housing boom.
Will it be able to get the premium given the hotter market?
Lisa Resek-Peck at @Properties has the listing. See the pictures here.
Unit #C: 3 bedrooms, 2.5 baths, 1 car parking, no square footage listed
- Sold in December 1988 for $166,000
- Sold in October 1991 for $182,500
- Sold in February 1996 for $189,000
- Sold in December 2002 for $385,000
- Sold in May 2006 for $400,000
- Sold in March 2011 for $388,000
- Currently listed for $429,000
- Assessments of $336 a month (includes cable)
- Taxes of $6094
- Central Air
- Washer/Dryer in the unit
- 1 car parking included (outdoor?)
- Bedroom #1: 17×11 (second floor)
- Bedroom #2: 13×11 (second floor)
- Bedroom #3: 11×10 (second floor)
Waiting for the nearly almost clos enough unicorn listing
Looks much nicer this time around (they did a nice paint job, they have some nicer stuff, and…gasp…this broker actually took good pictures).
It’s my understanding that most of the other updates were made by the 06 buyers, hence the relatively low $400k price at peak. Those folks then sold in March of 11, which reflects the fact that the place was on the market over an entire (particularly rough) winter. And as I’ve mentioned, I made inquires on the place earlier in 2010, I believe to the previous-previous broker (i.e., the one who had the listing before it finally sold in 11), who made it seem like it was going to be hard to view the place (because the sellers had jobs and a kid!). Not sure if I just caught that broker and/or sellers on the wrong (weekend) day, but that phone call took the place off of our radar (on which it had barely made it anyways, given the outdoor parking and the nature of the upstairs decks).
Anyways, this place will likely close at $400k. $410k wouldn’t be unreasonable either, but at this list price, they haven’t left much room to haggle (I would have listed $10-20k higher). Shouldn’t take long.
Annony-
Completely agree they should have listed higher, I have mutilple clients looming to buy townhomes in the area. Just last week I toured one group of 450-500k 2-3 beds on LP, by Thursday all were under contract and they lost the bidding war on 1708 N Orchard which is going to trade over list price!I wouodnt expect a reduction on thisas its common for both buyers and even their brokers to just assume making offers based on what soemthhing is listed at to figure out what the value is- a huge mistake. Believe it or not, some home are listed at or below market! We are seeing evidence of it nationwide in numerous articles. Nice home, great location and will be touring this week. -John@33realty.com
this is not a “hotter market”. If you bought in 2011 you’re home is now worth less.
Pretty close to Geja’s. One of the most romantic restaurants in the city! But for this kind of money, I’d probably rather have the single family home and avoid the shared walls / common areas.
@matthewleko where are you finding a SFH for this price anywhere around this area?!?!
“Completely agree they should have listed higher,”
Wouldn’t there be multiple offers then which would lead to a bidding war?
“Anyways, this place will likely close at $400k. $410k wouldn’t be unreasonable either, but at this list price, they haven’t left much room to haggle (I would have listed $10-20k higher). Shouldn’t take long.”
What makes it so great? Just the location?
Because isn’t it about 1500 square feet? And it’s NOT a townhouse. You don’t even get garage parking.
I don’t think he meant SFH in the area, I think he meant a SFH in Wheaton or something.
This is not a bad look unit with nice updates, but I’m always suspicious of units that over every few years. They call those rentals. My house was owned by same owner from the day it was built until it was purchased by me and the guy to the left of me has been in his home since the early 50’s and the guy to the right of me since the late 50’s and people behind since the late 60’s. This tiny townhome in lincoln park turns over every 5 or 6 years, sometimes less, sometimes more.
“If you bought in 2011 you’re home is now worth less.”
Not according to anonny. He says this will sell for more than the 2011 price (of course, the seller will still lose money after taking out realtor/transfer fees etc.)
“SFH in the area”
nomnomnom, troll luv HD fud.
“always suspicious of units that over every few years. They call those rentals”
At the nominal prices it traded at in the 80s-90s, it was (a) no worse financially (barring large specials, or failed appliaces) than a rental, and (b) the transaction costs not a big deal.
“Waiting for the nearly almost clos enough unicorn listing”
Does this unit fail unicorn (old or new) in some way? Just not nice enough?
“on which it had barely made it anyways, given the outdoor parking and the nature of the upstairs decks”
Sorry, should have read further. Still, a cheapo-for-anonny 3 bed. Swap into this place now, set for 5-6 years and then assess.
“Not according to anonny.”
Yeah, it’s like he believes that real estate properties are individualized products in which individuals may find benefits or detriments resulting in a different valuation than that suggested by treating them as homogenous commodities and applying a simple formula. What a dumbass!
Can someone post a link to or post the various effective tax rates for villages/townships etc? Tax bills are coming in a few days.
dz: kitchen also too open, isn’t it? and the mini-w/d would be kind of a bummer.
Just for you HD:
http://www.cookcountyclerk.com/tsd/DocumentLibrary/2011taxratereport.pdf
bad buy over 385k
“kitchen also too open, isn’t it?”
Open to dining is ok per unicorn (admit I had to gthooi…icarus’s appropriation of unicorn criteria is now top google hit, at least for me…someone should trademark that soon). I’m not sure where the pass thru goes, is that the problem?
“mini-w/d would be kind of a bummer”
Think anonny sends his laundry out. That’s how they do it in nyc.
You could simply type in “unicorn” in the search button on this site and the first hit should be
http://cribchatter.com/?p=9819
“is that the problem”
Hard to get a full sense–I think the passthru + the “dining room” being relatively open to the living area combine to make it substandard, but possibly passable.
“Think anonny sends his laundry out.”
Right. But the full-size w/d is a key feature for a family with prosaic midwestern sensibilities. Otherwise, you have to wash bedding in rotation.
“You could simply type in “unicorn””
So, gthooi isn’t on your CC-wiki list yet? DZ will submit the official definition via the CC pix dropbox.
Great, it appears like tax rates went up across the board. At least my home’s assessment stayed the same.
This place made miraculously to look liveable and not cramped by good photography. You can take your $430k, 13′ wide tri-level home with 8 foot ceilings and shove it! Theres a reason these people don’t want to live here any longer!
A friend I used to work with lives in the Midwest.
She paid $500k for a 1BR back in 2005…
(At the time, I thought it was the most idiotic thing ever)
It is totally underwater today, and they are moving to NJ.
1) They bought another house in NJ. (How they got a 2nd mortgage for a total of almost $1m on a $150k salary is beyond me)
2) They just sold the 1BR short for $300k.
So, the bank eats the $200k!
3) Bad credit lower for 2 years?
Moot point, b/c they already have new house and car…
Owning real estate is genius…
Heads I win, tails you lose
I believe they put 0% down.
They might have even gotten cash back at the closing!
I do not know if their monthly nut was less than renting the same property.
But, in almost all cases (outside of NYC) owning is vastly cheaper than renting.
In my experience, renters rent b/c they are too stupid (or undisciplined) to save up a downpayment.
So, they lose.
I think they paid $450k, but today had a mortgage of $490k
They also may have taken out a $40,000 HELOC loan to help her quit working after her baby.
Their monthly cost was also fixed for 7 years.
Sucker renters would realize none of these benefits.
Oh, if the bank doesn’t allow a short sale, STOP paying.
Oh, do I have your attention NOW?
Right, that reminds me, they also lived rent free for a good year. (FREE $50,000 )
Where do you think they saved up that downpayment for the next house so quickly?
When buyers win this fucking big, even when a property gets CRUSHED,
you just have to laugh at the imbeciles who say renting is better b/c the landlord pays for the paint.
Talk about low IQ shortsightedness.
Ok, anyone want to try to walk through the actual process to take the assessed value and turn it into the tax due? I thought I had it written down somewhere but now I can’t find those notes.
“it appears like tax rates went up across the board”
But the EqF went down. Using Park Ridge, Dist 64 as the example, EqF is 2.9706 v. 3.3000, and tax extension is 7.830 v. 6.958. So, for every 10k of AV this year (ignoring HOE), tax is $2,325.98, and last year it was $2,296.14–not a big difference, even with your million dollar manse, HD.
I’m still a CC neophyte, who is this Amy poster?
[Amy’s repeat post]
Um, do you work in Clio’s brokerage office?
JJJ: “actual process to take the assessed value”
[(AV * EqF) – HOE (if, and tot he extent, applicable)] * tax extension = tax due
Right?
“who is this Amy poster?”
Appears to be a spambot.
Nevermind, I see that it’s in that document from TheFunkyOne. How do I find the specific tax rate within the City? It varies by township, right?
“How do I find the specific tax rate within the City? It varies by township, right?”
Only varies if you are in a mosquito abatement district or a SSA (and the SSA applies to your property). If on the northside, nearly certain to be 5.455, as long as it’s a residential property.
Nice looking place, great location, parking included – all good.
Price is a bit high, though. Not sure why they expect a premium. I imagine it will go in the high 3’s.
It strikes me that there’s no family room or den. That could be a detractor if you have kids and want them to have a play room. I hate when the kids’ toys are in the living room, which I see often.
I don’t care about Maine or Leyden, I’m more interesting in Wheeling township.
“Dan #2 (June 27, 2012, 10:29 am)
Nice looking place, great location, parking included – all good.
Price is a bit high, though. Not sure why they expect a premium. I imagine it will go in the high 3?s.
It strikes me that there’s no family room or den. That could be a detractor if you have kids and want them to have a play room. I hate when the kids’ toys are in the living room, which I see often.”
But this would be a million dollars or more in Manhattan!
“If on the northside, nearly certain to be 5.455, as long as it’s a residential property.”
Thanks.
“Great, it appears like tax rates went up across the board. At least my home’s assessment stayed the same.”
Cook suburbs north of North Ave were reassessed for 2010 tax year, so that was good for 2010-2012 (bills paid 2011-2013.)
Just to check my math with that of others, once you do the algebra, I think that the 2011 equalization, rates, etc. mean that, in Chicago, ignoring the homeowner’s or other exemptions, the tax due is supposed to be 1.620462% of the “market value.”
With the new limits to the value of the homeowner’s exemption (now only $12,000, down from $20,000 two years ago), the maximum tax savings from the homeowner’s exemption is $654.60. (The minimum is half of that – $327.30.) I don’t know how the value of the exemption is calculated, but it’s not a big gap or a big savings either way.
“I’m more interesting in Wheeling township”
Same concept–Buffalo Grove:
9.270 extension this year– $2,753.75 per $10k AV
8.207 extension last year– $2,708.31 per $10k AV
So your million dollar house in BG will have $454.40 additional taxes, which will leave your second half bill smaller than the first half, unless the first half was based on a HOE-reduced bill for 2010.
Nevermind, I see that you guys already got to the details in the thread last night.
Due to some successful appeals, looks like I’ll be getting at least one check from the county instead of paying them for the second installment. Nice one!
Did I mention I like in the lake country side of buffalo grove?
“What makes it so great?”
I didn’t say “great,” though some might think so. For a small family (one kid ideally, but it could accommodate two) that doesn’t expect its income to climb much over the next decade (or who wishes to buy a vacation home, a boat, etc., or who have huge student loans, etc.), it has a lot going for it.
For $400k, show me some other places that:
* Have a parking space
* Have in-unit w/d and central air
* Have three bedrooms on one floor
* Have *some* outdoor space
* Don’t have a kitchen directly open to the living room
* Are more or less updated
* Are little more than a block to the park/zoo/lakefront access
* Are in Lincoln elem
If people can scrap together $20-40k, give or take, they can put their kids through one of the better public elementary schools, while living a couple minutes walk from some of the city’s best (free) kid-favored environments, while having fairly easy bus commutes to/from the Loop. What’s the rent on a place with all of the bullets listed above? Assuming someone buys this place at $400k with 5-10% down, if they can sell it for $400k in 5 or 10 years, what will the outcome be? I think it’s fair to say that they’ll at least walk away with their $20-40k; they won’t have been living in an apartment setting; no unit-owner/landlord would have notified them to move out; and they will have enjoyed taking an interest deduction on their taxes.
“…Just the location?”
“Just” the location? In the midwest, I think the “location, location, location” mantra often means less to many people. That’s fine. But for some folks, location is *the* paramount concern. For the latter group, privileging location above all begins in a general sense, e.g., “city” vs “suburb” vs “rural,” or a regional sense, e.g., “northeast” vs “south” vs “west coast,” or an environmental (for lack of a better descriptor) sense, e.g., “mountain” vs. “coastal.” Once those threshold decisions are made, location-above-all folks might drill down to the particular sense of “location,” e.g., in the case of “city” dwellers, it wouldn’t merely come down to a specific neighborhood, but a specific part of a neighborhood. For folks who are *not* location-above-all oriented, the difference between, say, life near the Clybourne corridor and life near the park/zoo/lakefront might be immaterial (to the extent they even recognize any difference).
Me, my location zealotry is more or less tied to a realization I had a long time ago, after moving from a rust belt city-line burb to a vacation destination. I realized that I’d always (at least attempt to) live in an area that is a vacation desination (i.e., the sort of place that middle class folks save their money in order to visit once in a while, or the sort of place that well to do folks frequent) and, failing that, I’d always (at least attempt to) live in a part of town where folks from other parts of town like to spend their outdoor free time. This has meant living in homes that aren’t always the biggest or the nicest in a particular area. Someday, I may come to regret having not slept in a nicer, bigger home (sleeping being what most people spend the majority of time at home doing). What are the chances that I’ll regret spending most of my non-working, daylight hours outdoors in the nicer parts of any given area?
p.s. Yes, the mini w/d in the subject property is sort of a bummer for families. We have one, and yes, it’s not great for bedding. I do hope our next place has full-sized w/d(s) (as long as I’m hoping, why not wish for two sets).
You are mostly correct, JJJ. However, the HOE max is 12,000 or 50% of EQ-AV, whichever is lower, so the minimum savings depends on the lowest assessment. For example, a $20,000 assessor’s market value would result in $162.05 savings with a HOE.
“Did I mention I like in the lake country side of buffalo grove?”
So, you’re jsut curious about Cook taxes “for a friend”?
“What are the chances that I’ll regret spending most of my non-working, daylight hours outdoors in the nicer parts of any given area? ”
You do realize it’s supposed to be 100 degrees tomorrow in and in 180 days it will be 0 degrees outside? At least in Wisconsin and MN the residents embrace the cold with winter sports: ice fishing, deer hunting, snowmobiling, skiing, snow shoes, football tailgating, wintertime grilling and of course, my favorite outdoor winter sport: beer drinking.
“So, you’re jsut curious about Cook taxes “for a friend”?
Yup. Now that I’ve thrown you all off my trail, what’s the tax rates for Oswego, Kendall County? I tell you, there are some AMAZING deals out there if you can stomach the drive around the ‘burbs.
http://www.redfin.com/IL/Oswego/216-Willington-Way-60543/home/14254512
“if you can stomach the drive around the ‘burbs”
The thing I’d miss is having a microcenter nearby. Would be ok if within say 5 miles or so.
‘When buyers win this fucking big, even when a property gets CRUSHED,
you just have to laugh at the imbeciles who say renting is better b/c the landlord pays for the paint.
Talk about low IQ shortsightedness.’
I don’t know, but there’s validity to this as more than a few acquaintances of mine have done the same thing in CA. One bought a single family in ’06 for $800k, realized he was under water (by about $350K), and just stopped paying the mortgage, although he indeed had the ability to pay. Rented out the house for $3K per month (which was about $500+ under market value) with the renters understanding that they may be locked out of their rental at any time. But, because it takes a couple of years to actually go thru the process of putting a padlock on the front door (something the owner well understood), he collected their rent for 18 months or so until they were officially locked out. He walked (little to nothing down) and is on to another house. His credit is screwed, but somehow he gets another mortgage… and is driving a new BMW. Another rented out her house, the tenants squatted for a year (they too knew the system), and then walked when they finally had to. Off the top of my head I can think of several more stories like these, and no, these places weren’t in the ‘hood’, but actually rather nice areas.
I never would have believed cases like these if I didn’t witness them first person, and maybe that’s just something that most midwesterners would never (nor should) do, but I would think long and hard about the whole renting thing (as a landlord, or thinking that renting is somehow going to get you financially ahead in the long haul)… until debtors prisons are brought back.
” I realized that I’d always (at least attempt to) live in an area that is a vacation desination.”
this is interesting. but I wonder how elp is really a vacation destination. granted, there is the zoo. but that is more of a field trip destination. wouldnt living by millennium park, or the mag mile be more in line with this strategy?
I think your all about the park argument makes more sense, at least to me. though I dont like tourists.
” but I wonder how elp is really a vacation destination. ”
you missed the ” and, failing that, I’d always (at least attempt to) live in a part of town where folks from other parts of town like to spend their outdoor free time.”
since he cannot have his vacation destination, he’s settling for cafes and beer gardens.
“he’s settling for cafes and beer gardens”
Are you suggesting that anonny is the possible buyer of the Berenice house?
@HD
‘I tell you, there are some AMAZING deals out there if you can stomach the drive around the ‘burbs.’
$9500 in property tax???? WTF???? On a $225K house??? Are they serious or is that a typo?
So taxes, maintenance of new cornfield construction… ie cheaply built, 2 car minimum (insurance, massive amounts of gas to get anywhere, car payments, maintenance), bigger house = more stuff needed to fill it up, utilities to heat and cool all that space, etc. So the suburbs are less expensive because… ?
“you missed the ” and, failing that, I’d always (at least attempt to) live in a part of town where folks from other parts of town like to spend their outdoor free time.””
thanks Icarus.
“$9500 in property tax???? WTF????”
That was last year. This year it’s $10,146.58. Even on the (2005) purahse price of $353,500, it’s 2.87%, on the ask, it’s 4.5%. ouch!
“9500 in property tax???? WTF???? On a $225K house??? Are they serious or is that a typo?
So taxes, maintenance of new cornfield construction… ie cheaply built, 2 car minimum (insurance, massive amounts of gas to get anywhere, car payments, maintenance), bigger house = more stuff needed to fill it up, utilities to heat and cool all that space, etc. So the suburbs are less expensive because… ?”
Jay, those outer suburbs are obsolete and filled with lemmings. Just move on.
“That was last year. This year it’s $10,146.58. Even on the (2005) purahse price of $353,500, it’s 2.87%, on the ask, it’s 4.5%. ouch!”
That is sickening. Four years of private HS in the City and your are thousands ahead.
@jay the suburbs are definitely cheaper. groceries and restaurants are much cheaper. better schools too! we have a lot of kids who graduated this year going to UIUC. for those that don’t, there are a couple community colleges out here that offer good value and don’t have as many enrollment difficulties as the city colleges of Chicago do.
OT question: if you had a choice between two SFH, more or less the same house in terms of bd/ba and overall size (in other words not comparing a bungalow to a Four Square), which would you choose: one that has less of a commute or one that is more “kick-ass”.
for example Kick-ass house is move in ready and meets all your unicorn criteria without having to change even a door handle, or 2nd house that is half the commute time but requires more than just a few weekends of work to get it how you want it?
which house has the gator deck?
“…half the commute time…”
What’s the full commute time?
Icarus: the answer to your question inevitably involves money.
“What’s the full commute time?”
Execllent question. Others:
Do you have very good reason to believe that your commute will be basically the same the whole time you own the house?
Price difference?
Is non-perfect house completely livable as-is?
“…half the commute time…”
“What’s the full commute time?”
If the full is 30 min or more, take the closer in house given the somewhat vague hypothetical. Generally easier to change the house than the commute.
As there aren’t any actually houses yet it isn’t easy to answer these questions.
“What’s the full commute time?”
Let’s define it as on a good day less than hour one way. As the week progresses the commute home gets longer and every 9th day you can expect an accident or other delay to extend your commute.
“Do you have very good reason to believe that your commute will be basically the same the whole time you own the house?”
If you mean might the Infrastructure Gods build a better highway, railroad system or transporter and the commute can be shorted? No. If you mean might someone change jobs, it’s always something to consider but for purposes of our discussion, let’s assume the commute won’t change.
“Price difference? ” The house with the shorter commute is $25-50K cheaper.
“Is non-perfect house completely livable as-is?”
yes. It might have wood paneling or wall paper that you cannot stand. or it might have a smaller than you’d like master bedroom.
would you pay 25-50k to reduce your commute an hour a day….forever!
oh sorry. read that wrong. that’s twice today.
“Icarus: the answer to your question inevitably involves money.”
I agree, HD…although even if the shorter commute house costs less originally and ends up costing $25-50k more with the updates, that extra cost (if you can work it into your mortgage) is actually very little per month out of pocket. Therefore, as DZ said, I’d always go for the shorter commute. House is easy to update, and there are ways to find the money or do it for less cost. The commute, assuming no transporters new highways or different jobs will be stuck as is and probably just get worse.
“House is easy to update, and there are ways to find the money or do it for less cost. ”
I’d tend to agree except hasn’t there been emperical evidence cited here of cases where someone always thought they’d get around to updating the bathroom/kitchen/basement but never did? [Jay might be the best resource on this one.]
I suppose it comes down to which has the greater odds of occuring: never updating your place or never changing your commute.
How would you be commuting from each house?
“If you mean might someone change jobs, it’s always something to consider but for purposes of our discussion, let’s assume the commute won’t change.”
Fine, but my objection to the hypo is that you (imaginary IT Monkey) v. HD (imaginary chancery lawyer) might genuinely find a better job in Rosemont or Lake Forest or wherever, so the particular dynamics of the commute caomparison matter.
That said, I’d probably take the 10-15% cheaper house, with the 30 minute commute, and the need for redecoration and minor “real” updating, assuming comparable structural/major mechanical condition.
The other important question, now that you’re married and may someday want children: what are the respective elementary schools like? I chose a longer commute for a better school district rather than pay for private school in a bad school dist.
“but my objection to the hypo is that you (imaginary IT Monkey) v. HD (imaginary chancery lawyer) might genuinely find a better job in Rosemont or Lake Forest or wherever, so the particular dynamics of the commute caomparison matter.”
I think I see your point. Depending on where the two houses are, theoretically the higher-end house could end up having a shorter commute if things change. Or full time telecommuting could become an option. Good point.
@Chris M – driving is the only option at this point.
“The other important question, now that you’re married and may someday want children:”
We’ve decided we’re just gonna have super smart genius babies that can dodge bullets until they get into the good magnet high school. 😉
“emperical evidence cited here of cases where someone always thought they’d get around to updating the bathroom/kitchen/basement but never did?”
Depends what the “need” is–if the kitchen sux and needs a total gut (or there’s no master bath, or the basement is unfinished and you want it finished, etc, etc), you’re basically saying that the “cheaper” place is actually the same or more expensive.
If you’re talking about cosmetic (broadly defined) differences, that stuff can actually get done. Personal stumbling point is the total bath reno, including moving fixtures. That takes serious commitment to get done, if you’re in the “enh, I hate it, but everything works” mindset.
“I chose a longer commute for a better school district rather than pay for private school in a bad school dist.”
So you choose to put the burden of your child’s development on the school rather than you spending time with your child… sounds smart to me!
“I think I see your point. Depending on where the two houses are, theoretically the higher-end house could end up having a shorter commute if things change. Or full time telecommuting could become an option.”
Exactly. You choose Humboldt Park over Edison Park because you work Loop-ish, and the commute is a lot easier, but then the perfect job drops in your lap, but is in Rosemont–then you have to choose between the better job or having 45 minute v 15 minute commute.
“That was last year. This year it’s $10,146.58. Even on the (2005) purahse price of $353,500, it’s 2.87%, on the ask, it’s 4.5%. ouch!”
WHAT??? Have people gone completely mad? Do they think a ubiquitous mass produced cornfield house that’s large for the sake of being large, was ever a good long term investment… at *that* rate of taxation? I’ve come to believe the suburbs are full of ‘hidden’ costs: out of control taxes for those country club schools they demanded, endless fuel, endless lawn care, not to mention what value do you put on your life that’s spent all day in a car. But I’m glad they exist as people who want that need a place to go… far away from me.
“Exactly. You choose Humboldt Park over Edison Park because you work Loop-ish, and the commute is a lot easier, but then the perfect job drops in your lap, but is in Rosemont–then you have to choose between the better job or having 45 minute v 15 minute commute.”
Yeah, but if your choice is between 30 and 60 min at the moment, you gotta take the 30. Deal with the reverse if it comes up.
Maybe given your point you’d pay less, or put up with less, for the shorter commute than you would otherwise, but 60 min each way? Yikes.
“I chose a longer commute for a better school district rather than pay for private school in a bad school dist.”
HD, I don’t recall, is your wife a stay-at-home mom? If not, did your move improve or increase her commute as well?
It is possible that the two house choices could impact a couple such that:
a) one person’s commute increases, the other decreases
b) both persons commute increases,
c) neither persons commute changes
did i miss an option?
Wife works. Both commutes got worse. By worse 30 minutes door to door went to 45 minutes door to door, maybe longer if it’s a bad traffic morning, but I’m on the train. It’s a trade off, life sucks, but that’s just the way it has to be when most of CPS totally sucks and chicago has terrible commuting times. If I don’t like it it could move to St. Paul or elsewhere. It’s no different being in lagrange vs. long island. Commutes suck to the city during rush hour.
the mode of transportation is key. i had a 60min commute for years, door to door. but I sat on the train, always got a seat so I could read or whatever. that commute never seemed like a burden.
live much closer now, 2.5 miles door to door. commute is approx 30min by bus/el. felt like a bigger hassle until I started biking to work.
believe me, we had hours and hours of discussion of this topic. south/west sides are out of the question; gz would be nice but not willing to trade off a 3-bedroom townhome for the same price as a real house in a near metra suburb. SFH in the GZ is completely out of the question. NW elementaries were an option but when I first met my chicago residing realtor was like “there are so many CPS options for my high school aged son/daughter etc” and then at the closing realtor dropped the bomb ‘son/daughter going to private school in suburbs (guess which one)!” so I guess there really aren’t that many viable CPS high school options. Believe me in a perfect world we’d all pay $400k for a reasonable SFH in the GZ on a real lot with real parking and real sized bedrooms but that doesn’t really exist because they’re all been torn down and replaced with 3-flats or 3,000 sq ft luxury housing with no yard in the back. So I moved to the land of the mcmansions up to 5’ from the side lot line (less with a variance!!!) instead and sucked up a longer commute. My HH income with both my wife and I working is definitely upper middle class – which is decent in the grand scheme of things, but it’s just not enough if you want to save, pay for daycare, car, student loans (ergh) and then ins. and all the other things in life. If you want a sfh or even something comparable but not a condo in the GZ – bucktown, wicker park, lake view, lincoln park, south/west loop etc it’s just way more than we feel comfortable paying, and there’s nothing wrong with that. My suburb now the HH income is more or less exactly at the median for the entire town and my home value is more or less right at the median too. I’ll fit in just fine with all the other working parents who commute into the city ahnd around the suburbs every morning.
“Exactly. You choose Humboldt Park over Edison Park because you work Loop-ish, and the commute is a lot easier, but then the perfect job drops in your lap, but is in Rosemont–then you have to choose between the better job or having 45 minute v 15 minute commute.”
For me, part of “perfect job” criteria includes location. If it’s in Rosemont it’s not the perfect job.
“For me, part of “perfect job” criteria includes location. If it’s in Rosemont it’s not the perfect job.”
Exactly. In fact, perfect job by definition must be in the CBD.
“2.5 miles door to door. commute is approx 30min by bus/el”
Miumiu used to be able to walk that in 30 minutes.
“If it’s in Rosemont it’s not the perfect job.”
“perfect job by definition must be in the CBD”
Pfft. That’s just a failure of imagination.
HD,
You might want to think about what I did.
I moved to the burbs and spent 6 years doing the commute to work downtown before finding a job out here, just a 20-minute drive from home. My wife is also a 20-minute drive (the other direction) to her office, so we really have it good. Never thought I’d work in the burbs, but things worked out that way. And life is much easier. I can leave home at 8 and still get to work on time. I can leave work at 5:40 and be home for dinner at 6. Sure beats the Metra.
If feasible, start looking for a job closer to home.
“Exactly. In fact, perfect job by definition must be in the CBD.”
really?? My perfect job definition would be “possible to do naked” or “while drunk”
Ironic – The wifes office was in rosemont area and we were looking to move to the close in NW burbs. Then we passed and her office ended up moving to the CBD. Now it is a 20 minute walk two stop el ride or short taxi/drop-off If I’m heading that direction. Life is good when her commute is short.
“Miumiu used to be able to walk that in 30 minutes.”
good stuff. but I could walk it in 45 so I know she’d do it under 30, easily. barefoot and pregnant.
“My perfect job definition would be “possible to do naked” or “while drunk””
Panhandling is more lucrative in the CBD, no?
“If feasible, start looking for a job closer to home.”
I will be soon, trust me on this one. I’ll use the metra to get to court but the office will be a 5 minute drive.
By the way- we’re back to a normal posting schedule tomorrow. Yippee! No more afternoon boredom.
““Exactly. In fact, perfect job by definition must be in the CBD.”
really?? My perfect job definition would be “possible to do naked” or “while drunk”
CBD isn’t large enough for strip clubs. Well public ones anyway who knows WTF goes on in those scrapers afterhours.
“If it’s in Rosemont it’s not the perfect job.”
That has to be the CC statement of the month. The O’hare office submarket is dismal, the rain/snow/gray skies, traffic, ugly people/women, crappy office coffee…..seriously, if this is your life, then consider a clean break and a move to Colorado or someplace with some scenery. The O’hare submarket has to be one of the most soul-killing and unattractive places with ugly vistas in all of America. Even New Jersey is better and prettier.
http://www.latimes.com/health/la-na-census-cities-20120628,0,826572.story
For once I’m in complete agreement with Helmethofer.
And he even managed to make a negative comment without denigrating any particular ethnic group!
By the way- I’m watching this one closely in this “hot” market. So far, it’s still available- after 8 days on the market.
Sabrina, note that 439 unit D took nearly two and a half months to sell, though that was during the dead of winter (listed on 1/17 at $419k, closed on 3/30 at $419k). Provided that the subject property’s ac is functioning well, I’d bet that it’s under contract in the four-hundred-teens by the end of July.