2-Bedroom Larchmont Loft With Parking Now $199,900: 1801 W. Larchmont in North Center
We last chattered about this 2-bedroom loft in the Larchmont Lofts at 1801 W. Larchmont in North Center in November 2011.
See our prior chatter here.
Back then, the loft was listed as a short sale at $225,000 which included the parking.
Several of you thought that wasn’t that bad of a deal considering #211, directly below it and with a similar layout, was purchased in October 2011 for $265,000 including the parking.
You can see the pictures of that loft here if you want to compare.
Some of you also wondered if the $225,000 had been “bank approved” and doubted whether it would sell for that low.
But since November, the loft has been reduced again to $199,900 (parking still included.)
If you recall, the loft has 12 foot concrete ceilings with some exposed brick. It is a south facing unit, so it is not facing either the Metra or the El directly (both of which run next to the building.)
The kitchen has white cabinets, stainless steel appliances and white counter tops.
It has the other features buyers look for including central air and washer/dryer in the unit.
How low will this go?
Robin Miner at @Properties still has the listing. See the pictures here.
Unit #311: 2 bedrooms, 2 baths, 1300 square feet
- Sold in August 1996 for $140,000
- Sold in July 1998 for $185,000
- Sold in February 2007 for $317,000
- Originally listed in April 2010 for $329,000
- Reduced numerous times
- Was a “short sale” in November 2011 at $225,000 (included the parking)
- Reduced
- Currently listed as a “short sale” for $199,900 (parking included)
- Assessment of $273 a month (includes cable)
- Taxes of $5315
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 14×12
- Bedroom #2: 14×10
Some paint would go a long way, as would a few thousand dollars of cosmetic renovation. Might even consider taking down the walls, if that works for your lifestyle. Seems like a good deal at the ask. Great proximity to the Globe and other places to go.
With these 3/4 walls, is it legal to finish the wall all the way to the ceiling and enclose the bedrooms?
4626 N. Kilpatrick taxes = $6037
1801 W. Larchmont = $5315
Will those both be reassessed?
Any estimates to just rip everything out of here and start over with a real plan? Mid level finishes…
Not close to any real city amenities; boring, ugly neighborhood, too full of high school kids; poor transit access; not a real “city” feel; too much train noise; etc etc.
“too full of high school kids”
I got suckered into paying for NPN access recently. Pretty entertaining tidbit on Lane:
“We live right near the HS so I get a daily dose of these kids. If you want to see them in action, just go to the Jewel next door during lunch time. They are there in droves. It is a broad mix of kids. My complaints are that they leave trash on our street and gang graffiti. I get the neighborhood crime report and there are cannibis (sp?) arrests there every other week. I also see several pregnant teens. So I am not fully impressed. However then I see different groups, like the track team running by, and they look like clean cut stand up kids.”
I wouldn’t be surprised if the bank refused an offer at this price as a short sale, ended up foreclosing on the unit and selling it for even less. Just because it is listed at this price or even goes lower does not mean the bank will accept it.
Even if the bank would accept an offer at this price, many people won’t even waste thier time dealing with a short sale.
I recently saw a condo listed as a short sale for $50k that no one was interested in. The bank took possession and listed it for $28,900 on a Thursday and had many offers by Monday and I wouldn’t be surprised if it closed around or over the previous listing price of $50k. People just don’t want to deal with short sales.
“I wouldn’t be surprised if the bank refused an offer at this price as a short sale, ended up foreclosing on the unit and selling it for even less. Just because it is listed at this price or even goes lower does not mean the bank will accept it.”
I agree. Looks like the first mortgage was around 252k, and the 2nd for $47k. In my experience, short sales where there is a 2nd lien holder are a real pain.
For full height bedroom walls in a loft such as this, bedroom needs direct access to outdoor fresh-air — usually an operable window within the room. Doesn’t look that’s possible here. So if new owner raises walls to create two enclosed bedrooms, he won’t get a permit because it’s a building code violation. Unlikely to be noticed, however, if done w/o permit. People sometimes create bedroom space even out of their walk-in closets, which is also a code violation.
“My complaints are that they leave trash on our street and gang graffiti. I get the neighborhood crime report and there are cannibis (sp?) arrests there every other week. I also see several pregnant teens. So I am not fully impressed. However then I see different groups, like the track team running by, and they look like clean cut stand up kids.”
Good stuff! Just missing a complaint about them crowding the buses.
Don’t know what crime report she’s getting, bc the everyblock report shows two pot arrest, on consecutive days, since the beginning of November. Frankly, it makes me wonder whats wrong with kids these days.
“Not close to any real city amenities; boring, ugly neighborhood, too full of high school kids; poor transit access; not a real “city” feel; too much train noise; etc etc.”
Anon-have you highjacked Jenny’s account. hmm, this is about 1 block from the Irving L stop. and I could go on and on, but I am hoping your comments were in jest.
” I am hoping your comments were in jest”
Just thought I’d get the complaints out there off the bat, especially when the first one said something nice about the location.
please add: dearth of tortoises, land or other, giant or other.
I remember the gator deck discussion, but what is the turtle reference?
“please add: dearth of tortoises, land or other, giant or other.”
I had a friend buy/sell a place here years ago. It was a great place for her, and she liked it. She bought when it was brand new, and got a good deal. She had a lot of good parties on the roof deck, and parking when visiting wasn’t a problem. Metra going by was pretty noisy, but you would be aware of that before purchasing, I am sure.
“Don’t know what crime report she’s getting, bc the everyblock report shows two pot arrest, on consecutive days, since the beginning of November.”
Comment is from May 2009. FWIW, my wife has observed that it’s impossible to shop at les jewels at lunchtime.
“I remember the gator deck discussion, but what is the turtle reference?”
Dammit icarus, where’s the wiki? Jenny loves giant land tortoises (I’m also still wondering if there are non-land tortoises). For the wiki, best to enumerate what Jenny likes rather than what she doesn’t like or is annoyed by.
Sorry, the day job keeps getting in the way.
“Dammit icarus, where’s the wiki?”
“Sorry, the day job keeps getting in the way.”
C’mon. We all know you have a lot of free time weekday nights.
“my wife has observed that it’s impossible to shop at les jewels at lunchtime. ”
Still? Even now that there are no more than 8 cars in daJool lot at any one time, bc Mariano’s had Rahm declare 9 or more cars an illegal enemy assembly?
Hmmm.. DZ, you have a good point about the “land” use in front of the word “tortoise.” I’ve just always liked the term “giant land tortoise” despite its redundancy.
That being said this building looks nice. I still think the neighborhood is boring, but the price seems right in this case. (At least it’s not a dumpy house next to a beer garden on sale for over $500k.)
“Mariano’s”
Mariano’s is prob worse than jewel at lunchtime, the store layout feels v cramped, but my son loves the shopping carts w/cars.
“I’ve just always liked the term “giant land tortoise””
Me too, Jenny, me too.
Ah yes, those pesky teenagers at Da Jewels and elsewhere…mu my my, we all are getting to be really crochety old folks aren’t we?
“KIDS! I dunno what’s wrong with these kids today!” – from “Bye Bye Birdie,” 1958
Actually this place is closer to St. Ben’s HS than Lane or Gordon, and I think it would be a pretty cool place for any young urban hipster single/couple with the patience to deal with the short-sale process.
“Actually this place is closer to St. Ben’s HS than Lane or Gordon”
*actually* its closer to LVHS than any of those three. And, as they say, you can look it up.
Larchmont is one of the Chicago streets that’s only a block long. It’s actually a pretty cool street in a decent area.
anon (tfo) (January 24, 2012, 2:40 pm)
Not close to any real city amenities; boring, ugly neighborhood, too full of high school kids; poor transit access; not a real “city” feel; too much train noise; etc etc.
Larchmont is located one block south of Irving Park Road and the Brown Line stop, so there is no way you can complain about transit access as this about a literal 45 second walk to that stop. There are a handful of places on Irving Park Road to get a drink or pub grub, and all you have to do is walk one and a half blocks west to Lincoln Ave and you’ll have a huge selection of bars and restaurants to choose from. You may have to walk for 5 minutes, but you definitely do not need a cab or car. So, I’m having a hard time understanding what “real city amenities” are.
The nearest high school is 5 blocks away at Irving Park and Ashland. Also, kids are everywhere. Please let us all know of this magical place where human beings younger than 18 do not exist!!! I would love to visit!
This listing is located in the Lakeview neighborhood in the CITY OF CHICAGO. I don’t know what a “real city” actually feels like to you, but I know that I live in this city and it feels like a “real” one on a daily basis.