Paying $800,000 to Live on Ashland: A 3/3 at 1309 N. Ashland in Wicker Park

1309 n ashland

This 3-bedroom at 1309 N. Ashland in Wicker Park came on the market in June 2014.

This building is the former Polish Women’s Alliance building and used to be a theater. It is part of the “Polish Downtown” or “Polish Triangle” that was the headquarters of the Polish community in the late 1800s through about 1950 in Wicker Park anchored by Milwaukee, Ashland and Division.

The building was converted into 7 condos at the height of the housing bubble in 2006.

This unit has 22-foot high ceilings with a spiral staircase that leads to a large lofted space.

The kitchen has modern cabinets, Subzero and Miele appliances and Carrera quartz counter tops.

It has dark stained floors and 2 balconies.

The unit appears to look out the back of the building (and NOT Ashland.)

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

It’s also just two blocks away from the Division Blue line El stop and near the hot Milwaukee/Division restaurant corridor.

After selling from the developer in 2006 for $700,000, it has come on the market in 2014 at $799,900.

Before you say “no way” on the price- it’s “sister” unit, #303, also a 3/3 with similar finishes, just came on the market at $825,000. It has the same pictures and the same realtor.

Is $800,000 the new reality, even on Ashland, for hot Bucktown?

Carrie McCormick at @Properties has the listing. See the pictures here.

Unit #302: 3 bedrooms, 3 baths, no square footage listed

  • Sold in November 2006 for $700,000
  • Lis pendens foreclosure filed in October 2009
  • Bank owned in June 2012
  • Sold in August 2012 for $360,000
  • Listed in July 2014 for $799,900
  • Currently still listed at $799,900
  • Assessments of $291 a month
  • Taxes of $11,477
  • Central Air
  • Washer/Dryer in the unit
  • Garage parking
  • Bedroom #1: 16×15
  • Bedroom #2: 13×13
  • Bedroom #3: 16×10
  • Loft: 25×20

 

 

 

17 Responses to “Paying $800,000 to Live on Ashland: A 3/3 at 1309 N. Ashland in Wicker Park”

  1. Matt the Coffeeman on September 22nd, 2014 at 9:17 am

    If the realtor considers this area Bucktown, I surprised s/he didn’t also claim that this place is located in Winnetka.

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  2. The title of this blog post says it all.

    and then the coup de grace: “Sold in November 2006 for $700,000”

    Nice try

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  3. well at least its not a duplex down, although I did find one of those for what 900k on ashland much further north of this property

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  4. Exactly what was done to this place to make it appreciate over 100% in two years?

    I have a hard time seeing even $400K for it.

    Worse, this beautiful space was given a really ugly rehab, and made graceless, boxy, and not very comfortable. That tacky add-on fireplace and the windows are hideous, the partitions are boxy and awkward, and for even half the money, I’d want a real staircase, not a tight, treacherous spiral stair.

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  5. “Exactly what was done to this place to make it appreciate over 100% in two years?”

    It was bought from the bank, who sold to somebody somebody knows, and is now actually available to the general public??

    It’s kinds like asking “why do you pay retail, when things trade at wholesale”. The $360 price was never actually available to you or me.

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  6. Two words: External Obsolescence

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  7. “If the realtor considers this area Bucktown”

    The realtor didn’t consider it that. It’s in “West Town” in the listing which is the all encompassing area. I was drafting this late last night. It probably should be Wicker Park.

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  8. Umm lets see its wedged between the hipster highway and ON super traffic ashland. I think first hand smoking would be better for your lungs.

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  9. I remember seeing the “raw” units at a brokers’ open house back when the renovation was just getting underway. The developer wanted brokers to get excited about the “unique” condo building in progress, looking to be a foundation of the “new” upscale Wicker Park (just a quick walk to the Polish Triangle/Nelson Algren Memorial Fountain, oh the irony of it all). The only one that really impressed me was a duplex that was making use of the balcony of the original theatre. The rest of the spaces were sort of “what the what…”

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  10. this location has a lot going for it besides the kmart across the street. you have 3 Lapasadita mexican restaurants to choose from (if all 3 are still around, I’m sure at least one is). And you can get furniture on the cheap at Mikes which is so close you probably wont lose any of the bedbugs that come with it as you bring it home. Also you will probably get to witness inter-mural bottle rocket fights out your window as july 4 approaches.

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  11. “you have 3 Lapasadita mexican restaurants to choose from (if all 3 are still around, I’m sure at least one is).”

    everything moving upscale:

    http://www.yelp.com/biz/authentaco-chicago

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  12. “this location has a lot going for it besides the kmart across the street”

    Proximity to Schwa, too, so when they decide to not open that night you have a reservation, it’s easy enough to walk back home.

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  13. This is in Noble Square

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  14. “And you can get furniture on the cheap at Mikes which is so close you probably wont lose any of the bedbugs that come with it as you bring it home.”

    Mikes is still there but this whole area is changing. The eastern part of Milwaukee, for instance, near Ashland used to be filled with cheap furniture stores and used clothing places. That’s where they are building $700,000 condos and fancy restaurants are moving in. It’s only a matter of a few years before that entire street- from Damen to Ashland/Division is completely luxury and upscale.

    People need to get out more.

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  15. It’s hard to get out more when the potholes eat a tire every time iam over that way

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  16. there have been good restaurants within walking distance since the late 90s. they may have moved a little closer to this dumpy stretch in 15years but it still retains it’s dumpiness. I wouldnt bet 700k against such a strong record anytime soon. but that’s just me. not sure if there is any stretch of ashland I’d spend that kind of coin.

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  17. Blue star bistro on noble & division is fricking GOOD, I really love tons of restaurants actually in the noble square neighborhood and they are all usually a lot cheaper than other green zone establishments.

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