Will 2013 Be The Lucky Year For Sellers? A 2/2 At 1117 W. Armitage In Lincoln Park

I don’t know if you’ve noticed but a lot of properties that we’ve chattered about in the past several years or which have simply been on the market off and on are returning to the market to try again.

This 2-bedroom at 1117 W. Armitage in Lincoln Park is one of those. It was on and off the market in both 2010 and 2011. It just recently returned to the market.

It is an extra wide unit with 1520 square feet in an elevator building.

The unit has 9’6″ ceilings.

The kitchen has maple cabinets, stainless steel appliances and granite counter tops.

It also comes with a large 322 square foot private deck.

The unit has central air, washer/dryer in the unit and heated garage parking.

The last time it was listed, in August 2011, it was listed at $599,000.

It has come back on the market just $4,000 under that at $595,000.

Will this unit finally find a buyer in this hot market?

Jeanne Martini at Kinzie Real Estate Group has the listing. See the pictures here.

Unit #2W: 2 bedrooms, 2 baths, 1520 square feet, 1 car parking

  • Sold in August 2001 for $540,000
  • First listed in 2010
  • Last listed in August 2011 for $599,000
  • Withdrawn
  • Currently listed for $595,000
  • Assessments of $338 a month
  • Taxes of $9335
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 15×15
  • Bedroom #2: 13×11

10 Responses to “Will 2013 Be The Lucky Year For Sellers? A 2/2 At 1117 W. Armitage In Lincoln Park”

  1. It’s nice, wide, good location, nice outdoor space (even parking!), and nice finishes. But geez… it looks like every other place. I see places like this and yes they’re nice and have most amenities that people want, but they just don’t feel like “home”. I don’t know… too generic? No character? I’m sure it’s just me as I’m a vintage lover, but eh.

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  2. this will be there year. with no inventory they will get a ton of traffic and be under contract within 45 days. generic place, but great location with all the amenities you want

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  3. That places like this were $540k in 2001 is largely why we skipped the ‘owning a condo’ phase.

    The 1520 might be a bit … rounded up…but looks to not include either the deck or the parking space, so I call it ‘reasonable’.

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  4. Beautiful living room. Micro-over-the stove really pulls it all together. (Sorry! Couldn’t resist.)

    For this place, rather than investing in a proper (looking) hood over the stove, I’d yank the island and put up a wall between the kitchen and dining area, with countertops/cabinets in the kitchen along the new wall (perhaps the granite could be reused?).

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  5. I wouldnt see this selling for anything over $500K. Very similar unit to mine (in terms of space, quality of finishes, assessments, and location). If this place sells anywhere near list, I am putting my place on the market.

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  6. I agree with T.S.

    This place, while it might be large and have all the “required” criteria, in the end, it is just a large box. No character.

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  7. I’m with “annony”. I’d have an arched wall between the kitchen and living room.

    Otherwise, it’s a beautiful newer place in a great location, with garage space, elevator, and great outdoor space. The building has a lot of curb appeal. The taxes and HOA are reasonable.

    This is a great time to get the ask price. I believe it will go quickly at this price.

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  8. E-LP Comps 'n Free Escrow on April 6th, 2013 at 4:27 pm

    $338 a month HOA fees? This building has an elevator in it. I’ve been in it.

    Good luck to whoever buys this that gets the bill to fix that elevator, also pretty sure this is a cinder block special. This is a financial time bomb.

    RE in Chicago is becoming so depressing that I just about can’t take it anymore.

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  9. I bet they regret putting up that wallpaper in the nursery room. $391 psf seems high for this place, finishes aren’t that great.

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  10. E-LP Comps ‘n Free Escrow (April 6, 2013, 4:27 pm)
    “Good luck to whoever buys this that gets the bill to fix that elevator, also pretty sure this is a cinder block special. This is a financial time bomb.”

    RIGHT ON!
    WTH is the matter with sheeple today? Does no one read? Capable of understanding proper building/construction materials & techniques?

    We backed out of an “almost” vintage 2B/2B that the rehabber thought no one would notice they built an addition (all floors, top to bottom) to a TRIPLE brick building — out of SPLIT-FACED BLOCK. Each unit had about 400 sq ft inside used to create a beautiful master bath.

    I got some very good advice from my inspector — and when I couldn’t believe what he told me (RUN, not walk away from the unit ASAP) — I got in touch with 2 more experts in this construction material, only to find that my inspector did me a GREAT deed by his inspection report and advice.

    Then I found out the unit we backed away from sold for about $25K more than our cash offer. I think people are totally nuts.

    We’re still looking for a vintage building where the rehabber wasn’t an idiot. And did the job right. While all the latest do-dads are great, I’m more concerned with NOT having to gut the entire inside of a place we buy or be left holding the bag when the music stops only to find there’s no chair left.

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