In the Market for a Lakeview Townhouse: 1207 W. Fletcher
Townhouses are a popular choice in Lakeview because they are usually cheaper than the single family home market there.
This townhouse at 1207 W. Fletcher doesn’t really qualify in the “cheaper” category. Though it is a larger 4-bedroom, which normally you don’t see in a townhouse.
Is this a single family home alternative?
Here’s the listing:
House-sized wide four bedroom/two and a half bath townhome. Entertain in style. Large living room with bay window and wood-burning fireplace. Dining area near kitchen. Eat-in bright kitchen with deck for grilling. Lower enormous family room and bedroom or office. Second floor has three bedroom, two and a half baths, master bedroom with walk-in closet, luxury bathroom with separate shower and whirlpool.
Deep one-and-a-half-car garage. Know your neighbors on friendly street. Easy walk to “El”, Wrigley Field, fun cafes, and shops. Immaculate with room for kids, pets, friends.
Connie Atterbury at Koenig & Strey has the listing. See more pictures and a virtual tour here.
1207 W. Fletcher: 4 bedrooms, 2.5 baths, 1 car garage
- Sold in April 2000 for $531,000
- Sold in June 2001 for $560,000
- Currently listed for $715,000
- Lis pendens filed in February 2008
- Taxes of $8414
- No assessments
There’s something else I’ve noticed. Townhomes tend to be cheaper than 3 – 4 unit condos for some strange reason – even though you don’t have to climb stairs to get to your front door and don’t have people living above or below you. I think some people like being able to say they live in a penthouse – even if it’s only 3 stories up.
I’m sure Bob will get a kick out of the behavior exhibited by a certain lender on this one:
6/01 Purchased for $560,000 with a mtge for $500,000
4/05 Refi for $660,000 ($594,000 + $66,000)
1/06 Lis Pendens filed by US Bk for the $594,000 1st mtge
4/06 Refi 1st & 2nd into new 1st for $667,250 from Deutsche Bk
3/07 Lis Pendens filed by Deutsche Bk
2/08 Lis Pendens filed by Deutsche Bk
The German people didn’t participate in the global housing bubble, but their banks sure did.
You could claim that quite a bit of that money came back in the form of auto sales, but many of the German automakers have factories outside Germany. For example, if you buy a BMW 3-series in America, it’s almost certain to come from South Africa. BMW and Mercedes SUVs are made in America. Volkswagen SUVs are mostly made in Slovakia. Porsche Boxster is made in Finland. Many Volkswagen cars are made in Mexico.
Not only did the Germans not get any housing price increases, they lost their manufacturing jobs and many will lose savings due to their banks making stupid loans to Americans.
Not to stray too far here, but they might have another problem in that most of those BMW & MB cars “sold” were actually leased.
I’ve noticed the same thing with condo vs. townhouse prices. I have no idea why someone would pay more for a penthouse condo than a similarly-sized townhouse. I guess part of the problem is a lot of the townhouse stock in Lakeview and LP is from the 70s – 90s, and the exteriors and interiors are often outdated…but that doesn’t bother me.
Hi, I’m interested to invest in a condo at Astor. I got a offer for a 1 br/ 1 bth, asking $ 357/sf. Is this realistic for a midrise bldg. in this street? The condo has some updates.
I think one problem with townhouses is the one my husband and I had on N. Bosworth – side unit noise problems = terrible!
We had a “nut” next door and his equally nutty wife – they would ramble all over their house on their cell phones and we could hear every word.
When we complained to the builder they said everything was up to “code.”