8 Months on the Market in Old Town: A 2/2 at 1814 N. Lincoln Park West
This vintage 2-bedroom at 1814 N. Lincoln Park West in Old Town came on the market in May 2014.
The building was built in 1890 and has 4 units.
The unit still has some of its vintage features including pocket doors and the original fireplaces, which have been converted to gas logs.
There is a black and white checkered marble entry way, a separate dining room, complete with a fireplace, and a beamed ceiling in the kitchen, which has white cabinets, stainless steel appliances and dark wood counter tops.
There’s a big private deck and 1 parking space.
It has radiator heat and space pak cooling and there’s a washer/dryer in the unit.
The building is on an extra wide 36×125 lot.
Originally listed in May 2014 for $709,000 it has been reduced $15,000 to $694,000.
This building is in a top Old Town location, not far from the restaurants on Wells and also close to Lincoln Park.
Is this a deal for the square footage and location?
Kathleen Menigham at KoenigRubloff has the listing. See the pictures here.
Unit #3: 2 bedrooms, 2 baths, 1800 square feet
- Sold in September 2004 for $553,000
- Originally listed in May 2014 for $709,000
- Reduced several times
- Currently listed at $694,000
- Assessments of $350 a month
- Taxes of $10934
- Central Air
- Washer/Dryer in the unit
- Parking included
- 2 fireplaces
- Bedroom #1: 19×13
- Bedroom #2: 10×9
- Dining room: 17×15
The deck is not very private. The owner above has to walk through this deck to get to the stairs to reach their deck. Overall way overpriced for a true 2/2 (where the 2nd bedroom is tiny) which is why it hasn’t sold.
Have to say–the 1800 is plausible–a rounding up, most likely, but I’d put the place at over 1700 inside the exterior walls, for sure. That’s a generous 2/2.
This unit seems priced too high for the area. It’s listed at a generous $385 psf when the neighborhood average for condos is only a little over $300 psf. My calcs show it’s valued at $554,400 at $308 x 1,800 sq feet. I can’t see any reason to value this at a higher price per sq foot than the average condo in the area. Yes, it’s bigger than most 2/2’s, but it’s also vintage, and has a choppier layout too. The fact that it’s bigger *usually* means a lower price per sq ft but a higher price than a comparable, but smaller 2/2. I wonder how serious the seller is about selling if it’s been listed 8 months with little more than a negligible price reduction since May.
This one will go for around $600. It’s listed as a 2/1.5, not a 2/2 btw. Nice place but not sure its worth the hassle of dealing with an older building and other condo owners.
Anyone have info on the places at 328 W Wisconsin? There are several under contract in the $700/ft range. This place definitely seems overpriced for a 2BR walk up.