Dreaming of a Vintage Townhouse with a Front Porch? 524 W. Grant in East Lincoln Park

This 3-bedroom townhouse at 524 W. Grant in East Lincoln Park just came on the market.

We’ve chattered about this building in the past. Built in 1881, it has 3 fee-simple townhomes.

This is the front unit which has a first floor terrace, the second floor front porch and a deck off the third floor.

You walk in on the main ground floor where there is the kitchen, living/dining combo and a half bath.

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

The second floor also has a living room or family room with a fireplace along with two bedrooms, a bathroom and access to the second floor front porch.

The top floor is the master suite with a master bathroom with dual vanities, a walk-in shower and soaking tub along with a walk-in closet.

It has the features buyers look for including central air and garage parking is included.

It’s rare to find vintage townhomes in East Lincoln Park.

Listed at $899,000, will this sell quickly?

Craig Isacson at @Properties has the listing. See the pictures here.

Or see it at the Open House on Sunday, Sep 8 from 1-3 PM.

Unit #A: 3 bedrooms, 2.5 baths, no square footage listed, townhouse

  • Nothing shows up in the Cook County Assessor for this building
  • Sold in February 2013 for $703,000 (per Redfin)
  • Currently listed at $899,000
  • No assessments as it’s fee simple
  • Taxes of $8873
  • Central Air
  • 1 car garage parking included
  • 3 gas fireplaces
  • Bedroom #1: 19×17 (third floor)
  • Bedroom #2: 13×10 (second floor)
  • Bedroom #3: 11×10 (second floor)
  • Laundry room: 6×5 (third floor)
  • Living/dining room: 20×13 (main floor)
  • Family room/living room: 12×12 (second floor)
  • Kitchen: 14×9 (main floor)
  • Second floor deck: 20×7

 

16 Responses to “Dreaming of a Vintage Townhouse with a Front Porch? 524 W. Grant in East Lincoln Park”

  1. Nice curb appeal and a great location. The room sizes aren’t very big and from the pictures, it looks like things are kind of packed in tightly. The outdoor space appears quite pleasant, and good to see parking included, especially at this price level.

    The layout is a bit odd with the living room on the second floor with what I’m assuming the ultimate buyer would use as the kids’ bedrooms. Also, some people don’t feel comfortable being a floor above their children if the kid are little.

    The question is whether anyone is willing to pay $899,000 for a kind of cramped townhouse, even in this location. Maybe I’m wrong, but I feel like the price has to go down somewhat.

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  2. From the Assessor:

    Estimated 2018 Market Value $483,560

    Estimated 2017 Market Value $351,960

    How was this place assessed at HALF of the 2013 sale price? The only appeal of assessment was for 2018, and they got a reduction from 518,690 to 483,560.

    So, now a modification to a prior “proposal”: IF (and only if) you appeal your tax assessment (and this applies to commercial properties, too) anyone can come in and purchase your property for the final, post-appeal assessment, plus 10%, for (say) 6 months after the assessment amount is determined, or name their price, which becomes the new Assessor’s market value. If you just live with what the assessor determines, then you are not subject to it.

    So, the Sears Tower has an (after appeal) AV of 174,249,999, and commercial has a 25% ratio, so the implied MV is 696,999,996?, or about half of the $1.5B mortgage on the property. Someone wants to come up with $770m, they could either force Blackstone to put the property into BK, or admit that the FMV of the property exceeds the amount of the mortgage.

    And this guy has to either sell for $535k, or admit that the actual MV is in excess of $750k, and start paying taxes on that basis.

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  3. The fact that these people appealed (and won!!!) such a low AV and have not been paying their fair share of taxes makes my blood boil. Good riddance. Get thee to the suburbs.

    anon (tfo) – – love that idea re capping sale price on successful appeals and the assessors’ office really needs to link up to recent sale prices and tax on those!!!!

    I like this property. But overpriced by a cool $100K IMHO. Some sucker may still buy it though.

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  4. yeah pisses me off to no end what happened with the taxes on my townhouse… seriously fuck the assessor’s office

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  5. Sonies – this is slightly off topic from the discussion of this ELP property, but given your new home, to you attend Burning Man?

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  6. yeah spending a week in the desert with 80,000 people doesn’t sound like a good time to me right now lol, I do know quite a few who went though

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  7. Sonies,
    You always were a homebody. Happy to just lie around on the couch cuddling with westloopelo.

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  8. I’ve been wondering if Groove has been living in some sort of Clio-funded Burning Man-adjacent commune.

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  9. lmao holy shit a ze sighting

    surprised you weren’t murdered by a gang member, good to see you’re still alive and kicking

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  10. “surprised you weren’t murdered by a gang member”

    Who do you think has been starting all those fires??

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  11. Ze–is that you back in country, or just holding on behalf of someone else?

    If the latter, you may want to do some internet scrubbing.

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  12. gringozecarioca on September 9th, 2019 at 1:40 pm

    https://www.instagram.com/gringacarioca_/

    anon.. do you mean this… So now we all know what I look like 🙂

    Nope still out of country, my mother-in-law refuses to die.

    Glad to see you’re all still here, gives me a big giant smile to say hello. I was testing my ping to the Chicago League of Legends server and it crossed my mind that I needed to say hi.

    ““surprised you weren’t murdered by a gang member”” – From what my most reliable sources tell me (Drudge, Breitbart, Alex Jones, Hannity, Limbaugh) I’m safer here than in Chicago. 🙂

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  13. ze–Dunno if you still use that email, but I just sent you something.

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  14. “Glad to see you’re all still here, gives me a big giant smile to say hello.”

    We’re still here Ze. Will you be back to join the discussion when we start talking about falling prices again? It looks like we could be heading in that direction again.

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  15. “I’ve been wondering if Groove has been living in some sort of Clio-funded Burning Man-adjacent commune.”

    Lol!

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  16. “Will you be back to join the discussion when we start talking about falling prices again? It looks like we could be heading in that direction again.”

    I always preferred to think of my participation as disrupting the discussion 🙂

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