Can You Afford Wicker Park? A 2/2 for $579,000 at 1741 W. Division
This 2-bedroom at 1741 W. Division in Wicker Park just came on the market.
Built in 2006, the building has 3 units and what looks to be outdoor parking.
This unit has 1640 square feet with a 650 square foot private deck off the back.
The kitchen is “contemporary” with dark cabinets, stone counter tops and stainless steel appliances.
Both bathrooms have similar contemporary finishes with dark cabinetry.
It has central air and washer/dryer in the unit.
It is also in a prime Wicker Park/West Town location, just a few blocks from the Division Blue Line stop and surrounded by coffee shops and restaurants.
Listed at $579,000, Division Street is certainly no longer an “up and coming” area.
Who can afford Wicker Park now?
And will it change the dynamics of the neighborhood?
Carly Stein at d’aprile properties has the listing. See the pictures here.
Unit #201: 2 bedrooms, 2 baths, 1640 square feet
- Sold in February 2008 for $466,000
- Currently listed for $579,000
- Assessments of $100 a month (includes water and scavenger)- just a 3 unit building
- Taxes of $5876
- Central Air
- Washer/Dryer in the unit
- Looks like it has an outdoor parking space
- 650 square foot private deck
- Bedroom #1: 16×11
- Bedroom #2: 12×10
So to enjoy the “HUGE” 650sf deck you have to go thru Jr’s bedroom.
Guessing the association has a $0 balance. S
I wouldn’t want to live on a busy street. If this condo was on a side street, I would like it more and think it was worth the asking price.
The building is 25′ wide, and about 65′ deep–that totals 1625 sf, befroe deducting for the width of the exterior walls, and the stairs to the 3d floor, etc.
Would be a quite nice 1 bed + office/guest room.
Pretty nice place in a prime neighborhood I mean what should it cost?
With 20% down you’re looking at 2700 a month PITA
700+ per month going towards principal… 1300 towards tax deductable interest
I’ve heard only horror stories about condo buildings with 2-3 units. With board fights, all the way up to lawsuits. Maybe I’ve only heard about anomalies. Do tiny condo associations really work?
” Do tiny condo associations really work?”
depends on how you define work: often it is 51% deciding for the other 49%.
However really big condo associations don’t work either because it’s too many people who don’t care enough to get involved so its more like 15% deciding for the other 85%
Small associations scare me. I have had friends who had to pay massive amounts of money to fix their buildings because their neighbors refused. Another friend of my lived in a 3 unit building where one of the owners committed fraud when he purchased the unit and then fled to another country. Getting that settled took years and in the meantime, they lost 1/3 of their assessments.
Big associations have their issues too, but scare me less. Small buildings should be apartments, not condos.
And they’re armed robbery-ing them left/right around there lately. Taking the same crime into account, I’d consider Lakeview closer to the lake.
Unfortunately armed robbery is a real possibility in all Chicago neighborhoods, especially if one dares to be out past midnight. I believe this will begin having an impact on real estate demand and pricing if it continues unabated.
Busy street, partial block construction, not a lot of indoor space for the money, other than the deck I don’t see much appealing for the money here. Reasonable taxes suggest Cook County agrees.
Are those split face block showing in the pictures of the terrace?
There are currently 9 2/2s available in Wicker Park this is one of the nicer ones and also the 2nd most expensive one. All the rest are 525K and below with 5 below $460K. So people can afford to live there but they’re just not going to live at this level.
For once in my life, I would like to read a listing that doesn’t “boast”.
“And they’re armed robbery-ing them left/right around there lately.”
That robbery pattern may have just been cleared up:
http://www.chicagotribune.com/news/local/breaking/ct-police-3-held-for-west-town-armed-robbery-20160601-story.html?utm_source=dlvr.it&utm_medium=facebook
homedelete – you said “This place could easily be worth a mil or more in a few years. That’s pretty much where all SFH’s in the green zone will start in price in a few years.”
Can you explain more about why you think this? Does anyone else have an opinion?
Thanks!