Jenny’s Dream: A Townhouse Under $500K Close to Downtown: 467 N. Armour in Noble Square

This 2-bedroom townhouse at 467 N. Armour in the Noble Square neighborhood of West Town just came on the market.

Sorry, I don’t have a picture of this 8-unit complex, but I wanted to crib on it anyway because Jenny is looking for a townhouse with these criteria:

“There are too many people who want to live in the same neighborhoods and pay very little for their places. I want a sub-$500,000 townhouse within a 15 minute drive from downtown. Every so often such a place comes on the market, but it’s rare. There’s a lot of competition for places at that price point in areas where I would want to live.”

This townhouse is one of the rare ones she mentions as it is priced under $500,000 and is within a 15 minute drive of downtown.

It has three outdoor spaces, including a private rooftop deck.

There’s a family room on the first level along with a patio, the laundry room and a 1-car garage.

The kitchen has granite counter tops, stainless steel appliances and an island.

The master suite has a walk-in closet and a rain shower.

Both bedrooms are on the third floor.

The listing says it is “walkable to Fulton Market.”

These townhouses are fee simple which may account for the different colors of the garages and front doors in the listing picture.

It has been on and off the market since 2009. It was actually listed earlier in the year, in February, for $34,900 less than it is currently listed, and was withdrawn after 2 months on the market.

Townhouses are popular with buyers and competition at “affordable” price points is fierce.

Will Jenny have to settle for less than her unicorn criteria?

Or is her dream townhouse attainable?

Katharine Waddell at Jameson Sotheby’s has the listing. See the pictures here.

Or go see it at this weekend’s Open Houses on Saturday, Sep 23 from 11:30-1 pm and Sep 24 from 12-2 pm.

467 N. Armour: 2 bedrooms, 2.5 baths, no square footage listed

  • Sold in March 1998 for $220,000
  • Sold in April 2003 for $300,000
  • Sold in July 2004 for $359,000
  • Sold in May 2005 for $380,000
  • Was on the market off and on from 2009 to 2017
  • Was on the market to rent in 2015 for $2450 a month
  • Listed in February 2017 for $425,000
  • Withdrawn in April 2017 still listed at $425,000
  • Currently listed for $459,900
  • No assessments: fee simple
  • Taxes of $7400
  • Central Air
  • Private rooftop deck
  • Bedroom #1: 15×9 (third floor)
  • Bedroom #2: 12×10 (third floor)
  • Family room: 15×11 (main floor)
  • Laundry: 5×4 (main level)

33 Responses to “Jenny’s Dream: A Townhouse Under $500K Close to Downtown: 467 N. Armour in Noble Square”

  1. 2 bedroom and 2.5 baths

    I don’t recall if the requirement was a full +1 min above number of rooms

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  2. I think she’s most worried about toilets in case multiple people get the flu. A half bath has a toilet.

    She will say this is too far west.

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  3. I POOP THEREFORE I AM JAN!!!
    GO CUBBIES LOLZ!!!!!!

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    Rating: +4 (from 14 votes)
  4. I cannot speak of the asking price but the place looks nice. I cannot believe how much this neighborhood has improved. In the 90s the only thing of note was an old man bar called the G&A, which has now gentrified into a hipster oasis.

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  5. Have we every concluded what is the benefit of a Juliette balcony ?

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  6. Last Redfin Agent Insight:
    Foundation issues causing problems throughout. Roof top deck has great view but the decking has been torn apart.

    Probably would find something else…

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  7. This is not really Noble Square. Too far south. Doesn’t really have a name.

    I think this area east of Ashland is under appreciated given the proximity to public transportation and the highway. And there is lots of development going on there so I think it has huge upside.

    “I think she’s most worried about toilets in case multiple people get the flu. A half bath has a toilet.”

    Common misconception. The flu does not cause that particular problem. It’s usually food poisoning. I do recall the one time my wife and I both got food poisoning at the same time in an apartment with one bathroom. It was pretty bad.

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  8. “Foundation issues causing problems throughout.”

    The listing picture shows extensive *exterior* water damage. This place is just a giant red flag.

    ALSO: Noble Square it is not. South end of Noble is either Chicago or perhaps Augusta. This could perhaps be “Eckhart Park”, but more accurately “Kinzie Corridor”. See, eg, http://www.westtownchicago.com/community/

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  9. I haven’t spent too much time in this neighborhood. My friends and I like going to Aberdeen Tap, which is just east of here. I would definitely consider this neighborhood and take a walk around during the day and night.

    The condition of the foundation would scare me away though. Even without those comments, I question the quality of materials used for the exterior. There’s siding on the back and the deck off of the kitchen is being propped up by stilts (although it doesn’t look like it was originally). Are those grey bricks on the front the type that allow water to seep in? The placement of the windows looks funny too.

    If it didn’t have the foundation issues, I would consider it. The interior isn’t entirely to my taste, but could be changed over time. I wonder if a lender would even allow financing of a property that has such structural issues.

    On the toilet issue, one of my friends has 4 kids and with his wife there are 6 people living in a house with 2.5 bathrooms. The entire family came down with a stomach bug about a year ago. All of the toilets were always occupied and the kids were pooping their pants. If they had 6 toilets, the mess would have been contained.

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  10. pretty sure West town is the neighborhood, but whatever… also these places suck ass, they are so vertical, I looked at a place like this when I was looking for my townhouse
    https://www.redfin.com/IL/Chicago/909-W-Ohio-St-60642/unit-3/home/12753970

    at the time they were like 500k but I hated the layout, garage and a half pooper on the first floor with a fairly small den, then you lug your groceries and whatever up to the 2nd floor which is just the kitchen and a small living room (no bathroom)…. then you go up another flight of stairs to get to your two bedrooms and bathrooms, then another flight of stairs to get to another den/deck sort of thing on the roof… its ridiculous

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  11. West Town is the community area. It contains neighborhoods such as Wicker Park, Ukrainian Village, East Village, Noble Square, River West and whatever you want to call this particular neighborhood.

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  12. This area is convenient to downtown – Grand Bus and walking distance to the Green Line at Ashland.. My brother lived two blocks north and a block east from 1998-2012 and it is changed so much. Not a fan of this layout though.

    Off topic and on what Gary said, people mistakenly refer to a stomach virus or any intestinal bug as the “flu”. Some think that the flu shot prevents norovirus (stomach flu) but it doesn’t. Stomach bugs, or “stomach flu” as they are commonly called, can cause body aches and fever, like the flu but influenza, a respiratory illness, usually lasts longer and doesn’t cause vomiting and diarrhea, at least it shouldn’t. I’ve had a stomach virus that resolved in 24-36 hours but have had the flu for several days longer.

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  13. “Common misconception. The flu does not cause that particular problem. It’s usually food poisoning. I do recall the one time my wife and I both got food poisoning at the same time in an apartment with one bathroom. It was pretty bad.”

    “Off topic and on what Gary said, people mistakenly refer to a stomach virus or any intestinal bug as the “flu”. Some think that the flu shot prevents norovirus (stomach flu) but it doesn’t. Stomach bugs, or “stomach flu” as they are commonly called, can cause body aches and fever, like the flu but influenza, a respiratory illness, usually lasts longer and doesn’t cause vomiting and diarrhea, at least it shouldn’t. I’ve had a stomach virus that resolved in 24-36 hours but have had the flu for several days longer.”

    Okay, but I still use my toilet to puke and puke when I have a stomach virus/intestinal bug.

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  14. since I have a fan here who thumbs down anything I post, I’ll put this off topic thing here…

    Someone is really overreaching on how quickly Garfield Park will gentrify

    https://www.redfin.com/IL/Chicago/2949-W-Washington-Blvd-60612/home/13259549

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  15. I wonder what the deal is with that $3 MM transfer to the trust.

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  16. My friends just bought a place in East Garfield Park. They’ve been getting a little flack for being the second white family on the block. It’s amazing what you get for the money there. It’s just a quick hop on 290 to the West Loop. If I was a little braver, I would consider moving there. My vote for the next neighborhood to gentrify is East Garfield Park.

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  17. Excellent public schools there too: Cather Elem is a (1) and Marshall High is a (3). Oh wait, I’ve got it all backwards..

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  18. My grandpa went to Marshall High School in the 30s. He received a damn fine education there, enough to get a scholarship one of the schools that became IIT.

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  19. “$3 MM transfer to the trust”

    Was a grant of a $3m “first lien right” from husband to wife. So, phony baloney.

    There was a $350k construction loan obtained in ’03.

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  20. ” If I was a little braver, I would consider moving there. My vote for the next neighborhood to gentrify is East Garfield Park.”

    same here. People want to live close to downtown even if they don’t work there because proximity to downtown also equates to proximity to many city amenities and the north side is already saturated.

    Go West Young Pioneer!

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  21. The neighborhood from West Loop to East Garfield Park is large. That’s a lot of area to gentrify. I think small patches might gentrify, starting from the east, but I don’t think that large scale gentrification will happen quickly.

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  22. Regarding gentrification activity. What it really comes down to is where are people buying, where are they building, and at what price points, and what is the trend in prices. It ain’t happenin in East Garfield Park any time soon. Actually, I did an overview of new SFH construction a short while ago and the map I put together coincides with where it seems like the action is. On the south side it’s Pilsen, Bronzeville, and Bridgeport. As you go north from there it’s West Town and Logan Square and there appears to be a western, diagonal boundary. What this does not show is all the rehabs going on. I think a lot are happening in Portage Park now but not so much new construction. Oh…and what exactly is gentrification? Does it include taking a neighborhood from 200K homes to 400K homes in better condition?

    http://www.chicagonow.com/getting-real/2017/08/new-single-family-home-construction-in-chicago-hottest-neighborhoods-of-2017/

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  23. “Was a grant of a $3m “first lien right” from husband to wife. So, phony baloney.”

    Thanks, I could see it was a related party but what was the point? And why $3MM?

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  24. “The neighborhood from West Loop to East Garfield Park is large.”

    Looking only at recent sales, it seems like there may be a little momentum north of Madison, from Western all the way to the park. Not sure optimism is warranted, but we’ll see.

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  25. “what was the point? And why $3MM?”

    Dunno, but were I speculating, I would say it was something to do with possible claims against him–no point in putting a lien on a $400k (maybe) asset behind a $3mm lien.

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  26. “what exactly is gentrification? Does it include taking a neighborhood from 200K homes to 400K homes in better condition?”

    If that is DIY, no. If it involves flippers, most likely yes.

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  27. “Oh…and what exactly is gentrification? Does it include taking a neighborhood from 200K homes to 400K homes in better condition?”

    I would define gentrification as the process whereby more white collar workers move into a neighborhood, making it clean and less crime ridden. Then the bars, restaurants, and upscale grocery chains move in and more middle class people move there, creating more demand for homes and increasing prices.

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  28. “I would define gentrification as the process whereby more white collar workers move into a neighborhood, making it clean and less crime ridden.”

    There is another transition that occurs that might not fit your definition of gentrification but it’s just as important. You can have a neighborhood with a lot of outdated homes occupied by a lot of older people and some younger people without the resources to update their homes. It’s a clean neighborhood with low crime. Probably a mixture of blue wand white collar. As the older people die off or move on the homes are bought up and rehabbed and sold to younger higher income people for around $400k+. As the prices rise more people sell to flippers and the process continues. It’s not quite like what is happening in Ukrainian and East Village or Logan Square but it’s still an opportunity for people shopping at lower price points.

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  29. “My vote for the next neighborhood to gentrify is East Garfield Park.”

    No doubt. But will likely take 10+ years (depending on how strong the job market remains.) It took a LONG time for Wicker Park to gentrify (i.e. for homeowners to stop hearing gun shots.) I would expect the same things for EGP.

    Still a TON of gang activity over there which is too bad.

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  30. “Foundation issues causing problems throughout. Roof top deck has great view but the decking has been torn apart.”

    Wow- thanks gberg.

    And these are fee simple. Yikes!!!

    Who is on the hook for what in a fee simple complex? If one home owner is like “f*ck it” and doesn’t want to pay for repairs, the rest are screwed. You can sue, but what if they just walk away from the development and turn in their keys?

    This is why I dislike fee simple townhouse developments. You have common walls. Things happen. There’s no guarantee your neighbors are going to care. I’d rather pay assessments and have back up funds to take care of things around the complex. I’d rather have the bushes cut and the front doors all replaced at the same time.

    Buyer beware in fee simple complexes.

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  31. Fee simple is a plus to me. Most people are too cheap to maintain their places properly, fee simple let’s you do things on your own schedule, without some management company dictating mediocre yet expensive work or some broke or miserly clown on the board shooting down nearly every improvement idea.

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  32. “Most people are too cheap to maintain their places properly, fee simple let’s you do things on your own schedule, without some management company dictating mediocre yet expensive work or some broke or miserly clown on the board shooting down nearly every improvement idea.”

    Buy a single family home then! Don’t buy a property where you share bushes, nearby driveways and walls.

    I don’t get this thinking. It’s kind of shocking, really. But I know people buy fee simple townhouses all the time so clearly other people don’t consider it a danger.

    I guess I have just seen too many dumpy fee simple complexes in my time running this blog, including many that are 30 to 50 years old.

    They’ve never been maintained properly. Ever.

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  33. “Most people are too cheap to maintain their places properly”

    That’s exactly the point. If you are in a townhome and sandwiched between neighbors who are too cheap to maintain their places properly, its going to cause you problems. “mediocre yet expensive work” is still better than no work at all.

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