More than 50% Sold in 3 Weeks in Lincoln Square: 4451-57 N. Hamilton
Here we go again.
Quick sales in a tough market.
It’s another conversion building, similar to the one we chattered about in March and April at 842 W. Belle Plaine in Lakeview, only this time the location is in Lincoln Square at 4451-57 N. Hamilton.
See our prior chatter and pictures about the Belle Plaine building here.
8 out of 15 units have sold in just three weeks.
What’s the reason behind the quick sales?
Is it all about the pricing or are the finishes, once again, done right?
Prices range from $199,000 to $259,000.
These pictures are of a different building by the same developer (so you can get an idea of the finishes etc.)
When there are actual pictures of the units, I’ll post those.
Mario Greco at Rubloff and his team are handling the marketing. See the listing here.
See the property website here.
A model unit will be ready for viewing sometime in the last 2 weeks of the month.
4451 N. Hamilton, Unit #3: 2 bedrooms, 1 bath, no square footage listed
- Currently listed at $245,000
- Assessments of $146 a month
- Taxes are “new”
- No parking
- Central Air
- Washer/Dryer in the unit
- Living room: 15×11
- Kitchen: 10×8
- Bedroom #1: 12×10
- Bedroom #2: 11×10
no one is buying real estate right now.
No, nobody is buying $500K+ condos anymore. At $240K they are a reasonable proposition relative to equivalent rent, if not a great investment. When more properties adjust downward to this level, the RE market will pick up.
500k for a condo is redonkulous. The 450+k condo segment was never one I fully understood the market for. I guess the market for these uber-expensive condos were just people speculating on real estate appreciation afterall.
This is not the same developer as the Belle Plaine project. Same agent though.
I wonder how much is psychologically counter-cyclical, you spend months or years trying to find a way into a 300K or 400K place during the bubble, and something comes along at 240K its seems like a good deal.
Nice location in lincoln square, although its a bit small, and I dont know looks kind of cheap o nthe website
The website photos are from another building this developer did in Rogers Park in the sub-200k price point. I personally am selecting all the finishes for this Hamilton project and they will be nicer than the photos… Walnut cabinets, glass tile backsplashes, subway and glass tile in the baths.
“distributed audio throughout includes iPod docks”.
did developers use 8-track machines similarly 30 yrs ago?
“The website photos are from another building this developer did in Rogers Park in the sub-200k price point”
How can someone get away with that? Its one thing to put crappy IPhone pictures of the unit on the website, but to put pictures of a completely different building?!
“no one is buying real estate right now.”
Not at all true. Numbers have gone down, but there are still props moving.
“The website photos are from another building this developer did in Rogers Park in the sub-200k price point.”
False advertising from this company? NO…Love that tilting fridge I wonder where they sell those?? Structure or flooring/wall problems?
CH-
yes.
http://www.meathaus.com/townhouse/
Scroll sideways, and please refer to the bed with built in audio, phone, bar, etc.
Hef knows how to live…
“Haywood on June 3rd, 2009 at 10:52 am
Nice location in lincoln square, although its a bit small, and I dont know looks kind of cheap on the website”
That is because everything in the unit is from Ikea and thus, is disposable.
The fridge was installed incorrectly, the floors do not tilt, I checked 🙂
As for using pictures from another building, it says on the MLS listing that they are of another similar building. The Hamilton building is only drywalled so it wouldn’t be helpful to post pictures of that. It happens all the time, they take photos of a model unit that’s a 3 bed, and post them for all units, that’s not really any different.
As for ikea, nothing at the Hamilton building will be coming from ikea 🙂
Great to see a sub-$300k property listed! This building seems comparably priced to less new 2/1s in Lincoln Square.
I represented both sides of this transaction (the sale of the rental building to the developer). They do great work for this price point. The other development that you are mentioning is on Greenview in Rogers Park. It’s interesting to see that if priced right, the market still has a pulse… albeit a weak one.
2/1 – blech
$250 a sqft for lincoln square – double blech
To each his own I suppose… I mean at least that price includes a parking spot.
Sonies, what’s wrong with Lincoln Square?
Way too far from the loop for my tastes. I do really like some stores up there though, I got my couch up there!
I wonder if this is one of those deals where he sold a bunch of the units to someone who is going to rent them out, so you will get some renters and guy who owns half the block of units and rents them out ot whomever. Any way if we can tell?
Haywood,
That is not the case here. All buyers here are buying one unit to owner occupy.
50% in three weeks, that’s really good. It appears that Mario and the developer have priced these appropriately. My only remark; level the fridge and take another photo.
Editor’s Correction
The interior pictures in this post are not of the units at 4451 N. Hamilton, but are of a building by the same developer.
Also, it is NOT the same developer as the building on W. Belle Plaine (and the post has been corrected to reflect those changes.)
Sorry for any confusion this may have caused.
A great location, priced well. It’s a pretty neighborhood near Welles Park and walking distance to the the brown line. I like this.
iPod docks? Good lord.
Sonies, you said: “Way too far from the loop for my tastes.”
I realize that “too far” is a relative thing (and to each his own on that!) but I live at Montrose and Ashland now and it only takes me 12 minutes to drive to my office at State & Chicago. That’s an ok commute for me! I’ve lived at several locations in the Square (the last two were on Wilson, first Leavitt, then Hamilton, so I know this location *very* well) and its not a bad commute at all! If you’re taking the train, yes, you need to plan on 40-45 minutes, but for me it was worth it – great neighborhood, very pretty, lots of good shopping and restaurants and NOT Lincoln Park prices or Gold Coast tourists!
That said, the bedrooms do seem a little small and you’d probably want at least one parking spot in that location. Street parking isn’t bad at all, but if I were to buy, I’d want parking!
are you talking rush hour? because the way lsd looks in the morning some days I’m having a hard time believing you.
“I realize that “too far” is a relative thing (and to each his own on that!) but I live at Montrose and Ashland now and it only takes me 12 minutes to drive to my office at State & Chicago.”
When are you driving? 3AM on a weeknight? Sorry but I have a hard time believing you.
I’m looking into a unit in this building. Does anyone know what the quality of sound proofing is for a shared exposed brick wall?