2-Bedroom Lincoln Park Townhouse Sells for $15K Over the 2001 Price: 1437 W. Altgeld
We chattered about this 2-bedroom townhouse at 1437 W. Altgeld in Lincoln Park several times including when it was recently reduced in March 2011.
See our March 2011 chatter here.
At that time, some of you thought it would sell quickly given that it was a townhouse, and not a condo, had parking and outdoor space.
Laura thought if it didn’t sell quickly at the then reduced asking price of $409,000 it meant another leg down in the housing market.
The townhouse recently sold for $395,000, or $15,000 above the 2001 purchase price.
If you recall it used to be a 3-bedroom but one of the rooms was opened to create a family room.
That left the bedrooms on the top floor and in the lower level with the family room in between.
It had 12 foot ceilings.
The kitchen had white cabinets, granite counter tops and new stainless steel appliances.
There was a small back yard, a third floor deck and a 1-car garage.
Monique Pieron at Prudential Rubloff had the listing.
1437 N. Altgeld: 2 bedrooms, 3 baths, 1 car parking
- Sold in May 1993 for $345,000
- Sold in May 1999 for $325,000
- Sold in August 2001 for $380,000
- Originally listed in September 2010 for $449,000
- Was listed in December 2010 for $449,000
- Reduced
- Was listed in March 2011 for $409,000
- Sold in May 2011 for $395,000
- Assessments of $125 a month
- Taxes of $6417
- Central Air
- Bedroom #1: 15×15 (third level)
- Bedroom #2: 14×10 (lower level)
- Family room: 18×10 (second floor)
This particular group of townhomes always looked cheaply built to me, though I’ve never been inside one. I couldn’t find photos, but is this one of those complexes with a big parking lot in the middle? Yuck.
Pretty sad comment on the market that the current price is actually lower, inflation adjusted, than its original selling price in 1993.
“Pretty sad comment on the market that the current price is actually lower, inflation adjusted, than its original selling price in 1993.”
Note that the ’99 price–after the (then normal, cyclical) bubble had started was lower in nominal $ than the ’93 price.
Bob called this as at or above ask. Bob’s a Bull!!
After the Realtors 5% share, these sellers are down 5K after living in a unit for 10 YEARS. OUCH!
Pretty functional space for a townhome, and really open feel. I like it for the price. Looks like the buyers got a decent deal!
I think that I called this one right on.
Executed Recorded Document Type Amount
05/16/2011 05/25/2011 MORTGAGE $295,000.00