2-Bedroom Duplex Up With Parking in Bucktown Reduces $60,000 at 1712 N. Wood
This 2-bedroom duplex up at 1712 N. Wood in Bucktown came on the market in May 2022.
This is a vintage building but I don’t have a year that it was built. It has 6 units on a bigger than standard lot as it has a “half lot side yard and garden.” There are some garages.
The building was converted to condos in 2001.
This duplex-up is on the third and fourth floors. Both floors have hardwood floors.
The main floor has an open concept living room, dining room and kitchen along with a half bath and balcony.
The kitchen has what look like wood cabinets, granite countertops, a breakfast bar and stainless steel appliances.
The second floor has both bedrooms and 2 full baths, with one of them en suite. There are also skylights in one of the bathrooms.
This unit has the features that buyers look for including central air, washer/dryer in the unit (not sure which floor it’s on) and garage parking is included.
The listing says it’s on a street with million dollar homes and is near the 606 and shops and restaurants of Bucktown.
Listed in May 2022 at $575,000 it was reduced to $540,000 and then went under contract in June 2022.
It has since come back on the market and is now listed at $515,000.
Is this now a deal in this popular neighborhood?
Sabine Rolnick at Berkshire Hathaway HomeServices has the listing. See the pictures and floor plan here.
Unit #3E: 2 bedrooms, 2.5 baths, no square footage listed, duplex up
- Sold in August 2001 for $435,000
- Sold in June 2012 for $360,000
- Originally listed in May 2022 for $575,000
- Reduced to $540,000
- Under contract in June 2022
- Re-listed
- Currently listed at $515,000
- Assessments of $354 a month (includes exterior maintenance)
- Taxes of $7632
- Central Air
- Washer/dryer in the unit
- Garage parking included
- Bedroom #1: 15×18 (second floor)
- Bedroom #2: 10×20 (second floor)
- Living room: 17×24 (main floor)
- Dining room: 12×14 (main floor)
- Kitchen: 9×14 (main floor)
- Balcony (main floor)
Decent place and seems to be priced right.
Very nice building and I like the interior finishes. Good layout, too. Nice that it has a small bath on the main floor. I’d been worried guests would have to go upstairs to use the bathroom. The price seems fair, but what this place is missing is some sort of outdoor space. Even a back porch would be great, and a roof deck would be even better, but I suppose it’s not possible.
Garage space included – very good. The problem with a small building like this is dealing with others in the association.
Two price reductions and languishing on the market. Just goes to show that even the Bucktown market is not good. But what do I know? Thanks for featuring this property. It proves my point. And nobody wants a rear unit, even if it is a “penthouse.”
“nobody wants a rear unit”
Not a rear unit.
“Not a rear unit.”
My bad. Thought it was on the other side of the street. I think that there is a front and back unit in these places though, which is not ideal.
“there is a front and back unit in these places though”
Yup. 6 units. Rear units have porches on the back.
Here’s 3W, sold in Feb-21:
https://www.redfin.com/IL/Chicago/1712-N-Wood-St-60622/unit-3W/home/12716200
Duplex down 1W, sold in May-21:
https://www.redfin.com/IL/Chicago/1712-N-Wood-St-60622/unit-1E/home/12715764
Much nicer finishes, imo.
1W (last was 1E, oops), has a fantastically weird private outdoor space; last sold Jan-14:
https://www.redfin.com/IL/Chicago/1712-N-Wood-St-60622/unit-1W/home/12716074
2d floor units are 1/1; 2W sold in April:
https://www.redfin.com/IL/Chicago/1712-N-Wood-St-60622/unit-2W/home/12715763
“Two price reductions and languishing on the market.”
But in reality, Jon, this unit went under contract within a few weeks, after rates rose, and months after you sold your place, and during what were, you said, “bad” conditions that you knew from being out of state.
It fell out of contract but we don’t know why. Market conditions have changed with 6% rates this summer. You keep acting like the Chicago market slowed months ago. It did not. The slowdown has literally happened in the last 2 weeks, like everywhere else in the country, once those rates rose dramatically.
No one is saying otherwise. It was ALWAYS going to slow from the red hot market on the higher rates. Happens every single time.
But you have no clue what is happening in Chicago right now. None. Even those of us who ARE living in Chicago are seeing the market change quickly.
But, yeah, in the last 2 weeks it has ground to a halt. Properties are still selling, especially if updated and priced correctly. Inventory remains very low but buyers are cautious right now. Some may sit on the sidelines and wait to see if rates will come down (they already have.) Big difference in payment between 6% and 5%.
Baghdad Bob is weeping after reading the above