Is Price Really All That Matters In Real Estate These Days? 1853 N. Lincoln In Lincoln Park
We last chattered about this 2-bedroom duplex at 1853 N. Lincoln in Lincoln Park in July 2012.
See our prior chatter here.
It is in a prime location near Lincoln Park but doesn’t have parking or in-unit washer/dryer.
It last sold just two years ago and most of you thought it wouldn’t sell for more than the 2010 price this go-around.
The unit recently reduced another $5,500 but it is still listed $14,500 over the 2010 price.
If you recall, at 1100 square feet, it has its own private entrance and the listing says it feels like townhouse.
The kitchen has maple cabinets and a mixture of white and stainless steel appliances.
Both bedrooms are on the second level.
The listing says it has an “amazing location.”
The sellers are still “motivated.”
Is price really all that matters in real estate these days?
Laura Langer at Chicago Apartments and Condo still has the listing. (It’s agent owned.) See the pictures here.
Unit #1D: 2 bedrooms, 2 baths, 1100 square feet
- Sold in September 1996 for $154,000
- Sold in March 1999 for $198,000
- Sold in April 2010 for $260,000
- Originally listed in March 2012 for $295,000
- Reduced
- Was listed in July 2012 at $280,000
- Reduced
- Currently listed at $274,500
- Assessments of $254 a month
- Taxes of $4869
- Central Air
- No in-unit washer/dryer (coin laundry)
- No parking
- Bedroom #1: 18×12 (second floor)
- Bedroom #2: 14×8 (second floor)
Pretty sure we looked at a DUPH (aka a “top floor” duplex) at this building a few years ago. I think it was around $400k, but was at least 5 or 600 sq feet larger than this unit, and much brighter/more charming. Pretty cool, but it lacked a parking space (can’t recall about the w/d), so it was a no go.
Wow, what are there, two or maybe three windows in this entire apartment? Looks depressing…
Isn’t this place right next door to some sort of SRO / Section 8 / rent-controlled / flophouse thing? The clientele is probably more Linkin Park than Lincoln Park.
This place is priced more than the 2 bedroom on Surf you just posted, which has 2 parking spots, an in unit laundry, more square feet, and is (imo) altogether a nicer unit in as good if not a better location. Of course the Surf place is REO, still not very hopeful for the sellers here.
Coin laundry? No parking? Sounds like a rental. Except for the issue of the $5,000 a year property tax and $254 a month assessment. No thanks!
Agree with everything Juliana said. Would rather have the “penthouse” on Surf any day.
Which is worse, having your living space in the basement in a duplex down or having the bedrooms in the basement? Normally, I hate having the bedrooms in the basement in a duplex down….but this place makes me think that is preferable to the living/dining room/kitchen in the basement.
That’s a tough question benjamon… I’m trying to decide… basements almost always have some sort of creepy crawler. I’m not sure if I would rather find a centipede in my kitchen or in my bedroom.
I’ve seen a lot of depressing units on CC, but this may take the prize.
The lack of privacy here is scary with the sidewalk so close to the building. I doubt the shades are ever open. This price needs to come way down.
“(It’s agent owned.)”
This usually means overpriced.
Be grateful for your centipedes. These critters are considered beneficial as they kill roaches AND poisonous spiders, as well as other nasty insects. And they don’t multiply out of control.
I see one once in a while in my place, and will permit no one to harm it.
Laura – I’m with you. I leave centipedes alone (and we do find some long ones in our basement). We also leave spiders alone.
But with flies and mosquitoes, I’m merciless, and I get my kids to help too. They’re good with the fly swatter. Also, we have a cat who’s helped with mice in the past. His services were much appreciated.
I love spiders, but centipedes make me scream. Spiders have colonized my balcony and I’ll be sad when winter comes and wipes them out.
“I love spiders”
Jenny whoda thunk? 😀