9 Months on the Market for this Lincoln Park 2-Bedroom: 1300 W. Altgeld
This 2-bedroom in Altgeld Court at 1300 W. Altgeld in Lincoln Park first came on the market in March 2017.
Converted into condos in 1991, it has 44 units and gated, outdoor parking.
This building is kind of a hybrid loft/condo mix.
The unit has high, industrial style ceilings with floor to ceiling windows, and some exposed brick.
The listing says this is a rare end unit with east, south and west exposures.
The kitchen has maple cabinets, stainless steel appliances and granite counter tops.
There’s a marble master bathroom.
I can’t tell from the pictures if there are windows in either bedroom. There are only pictures of one of the bedrooms and there are no windows shown in that shot.
There’s a second private entrance which leads to a 250 square foot private patio.
It has central air, washer/dryer in the unit and rare 2-car parking, which is gated.
This unit was listed in March 2017 for $579,000 and has been reduced $40,000 to $539,000 but still hasn’t sold.
With inventory near all time lows, why isn’t this selling?
Michelle Lezotte at @Properties has the listing. See the pictures here.
Unit #115: 2 bedrooms, 2.5 baths, no square footage listed
- Sold in October 1991 for $191,000
- Sold in June 1996 for $225,000
- Sold in April 2000 for $325,000
- Sold in September 2005 for $470,000
- Originally listed in March 2017 for $579,000
- Reduced
- Currently listed at $539,000 (includes 2-car gated parking)
- Assessments of $383 a month (includes exterior maintenance and scavenger)
- Taxes of $7191
- Central Air
- Washer/dryer in the unit
- Bedroom #1: 15×12
- Bedroom #2: 12×11
Why it’s not selling:
1. The tubular metal structure in the picture is ugly and weird
2. Both the interior and exterior walks are half brick half unknown substance (concrete maybe?)
3. What does the exposed pipe in the secondary bedroom contain? I once toured a place with exposed pipes. On of them carried water. I could hear water moving around in the pipe and knew that it would drive me mad to hear that sound every day.
4. Awkward fireplace placement
5. The fitness center building is very close to this unit. The building itself is ugly and there’s lots of public parking near it.
Other than that, I’m not sure why it’s not selling. I think reducing it to $499,000 would get it sold.
Pretty bland unit but I like the layout and the fact that it isn’t a mezzanine/duplex setup like some of the other units that have been for sale in this building (which leaves 30ft of open space, not very energy efficient).
My wife and I toured a place right near here at Altgeld Club lofts over the weekend and we walked by this building as well; it doesn’t have the nicest curb appeal which is a shame given how the surrounding stock does, but the location is fantastic. Close to red/brown/purple line, far enough away from the shadiness on Ashland/Fullerton, but a much easier drive west to the Kennedy now that most of the road construction on Fullerton is complete. 2 parking spots is great too. I can’t comment on price since I would never pay this much for a condo, but I’m sure some will see the value of buying this especially in a rock-solid neighborhood; the value of which won’t live and die by hipster trends/gentrification
Are these set up more like side by side townhouses? If so, I dont see why it wouldn’t sell for the low $500’s and let the new buyer do some much needed interior updating. 2 car in great neighborhood with transit options should be a no brainer, knock off a little for 2bd rather than 3. The loft aesthetic is just weird but tolerable, If I transport myself back to the late 80s early 90s I get it.
This place seems amazingly overpriced to me. I’ve never been a fan of these developments in west Lincoln Park that sprang up like weeds in the 80’s and 90’s. This unit seems to have more personality than some, but I think you could do a lot better for $500,000.
TWO WORDS. JAN TERRI. CALL ME CRAZY, BUT SHE LUVSSSSSS THIS STYLE. ITS GOT A BOAT TON OF 80’S STYLE AND WOULD ROCK A GREAT KEGGER PARTY LOLZ!!!! GO BEARS!!!!
Now down to $505k…
sold for $495k, Apr-18.