Loft-like Duplex Up Reduced in Lincoln Park: 1866 N. Halsted
We last chattered about this 3-bedroom unit at 1866 N. Halsted in Lincoln Park in December 2009.
See our prior chatter and pictures here.
We had an interesting chatter about the big size of the unit (it has more square footage than some single family homes) and if lack of deeded parking would hurt the sale.
It has now been reduced by $25,000.
The unit has an open loft-like living space which is 70 feet long.
All of the bathrooms have been renovated.
The kitchen has white cabinets, counter tops (except on the kitchen island) and appliances.
The unit also has central air, a wood burning fireplace and skylights. But, as mentioned, there is no deeded parking.
Matt Garrison at Coldwell Banker still has the listing. See more pictures here.
Unit #PH: 3 bedrooms, 2.5 baths, 2712 square feet
- Sold in February 1994 for $292,500
- Sold in November 2006 for $585,000
- Was listed in December 2009 for $649,900
- Reduced
- Currently listed for $624,900
- Assessments of $310 a month
- Taxes of $7298
- Central Air
- In-unit Washer/Dryer
- No parking
- Skylights
- Bedroom #1: 20×13
- Bedroom #2: 14×12
- Bedroom #3: 13×10
one piece of trivia….I remember seeing this unit listed in Sept-ish 2008 @ somewhere around $750k-$850k. fyi.
I love the office and the Master Bedroom. If they can, they should spend a good 6-8k at Ikea and get a brand new kitchen. All white kitchens in 2010……
Real bummer with no on site parking.
Does this have a deck? Lots of these places in the neighborhood have roof access, does this? Major waste to be this close to Gephards(SP?) and not be able to get your grill on.
No outdoor space is and always has been a dealbreaker for me.
The unit has roof rights, my client has plans to add a huge rooftop deck, access through the living room staircase extending up through the skylight.
What is behind this building if not a parking pad/garage?
ari the owner came by last time it was featured. which anon is that posting first?
Are the roof rights private to the unit?
When you say your client has plans to add a huge roof deck do you mean it is spec’d but isn’t in progress? Do you know any specifics about the plans or the size of the deck/roofspace?
Tay-
He had a contractor do some drawings and give an estimate. He has excusive rights to the entire roof, so you can go as big as you want. He was planning on roughly 20×20, cost 10-15k depending on what you do with the stairs.
John-
There is a coach house unit in the back.
MGG
this is a great location, but how is it living directly on halsted here?
no parking is a bummer, this looks awesome/huge otherwise
Does the city allow you to add roof decks now days? *stupid question i know*
Just sold 3 blocks from here, mansion at 1866 N Howe. From Crain’s:
Lincoln Park mansion quickly under contract
One of the city’s most expensive homes, with an asking price of $8.5 million, is under contract after barely a month on the market. The 11,000-square-foot Gold Coast mansion at 1866 N. Howe St., three blocks east of Halsted Street, went up for sale April 7. It could not be determined who owns the home, which includes six bedrooms, an in-home theater and a four-car garage with a half basketball court on the roof. Property records show the house, built in 2004, is owned by a private trust. The listing agent, Janet Owen, a residential broker at Chicago-based Sudler Sotheby’s International Reality, declines to comment on the price or disclose the buyer or seller.
really confused, are the kitchen and dining rooms on different floors? Can I get a floorplan here?
nevermond, thrown off by the two staircases – if anyone else is looking for FP check comments of the last post…
No parking = no sale at this price
“No parking = no sale at this price”
No parking in LP equals no sale anywhere above $300K!
Matt, any parking spots for sale near this place?
“No parking = no sale at this price”
cue the people who think its not “that” bad to find street parking in the heart of lincoln park…
I don’t even have a car but would never buy a place without a spot. Insanely stupid especially when throwing 630k down on a place!
No parking is not ideal. A big percentage of buyers won’t even consider buying places without parking. But there are plenty of high end units without parking, i.e. the entire south side of Elm St. between the lake and State St.
My clients rent parking within 1 block. It is a tradeoff to get a huge unique space in a great neighborhood instead of a cookie cutter duplex down.
FYI the architect Jack Berger originally designed this space in the late 80’s. He designed Mondial, the high rise near Halsted and Chicago.
The floorplan is available at http://www.1866halsted.com.
MGG
You literally would be unable to park here with regularity. It wouldn’t be hard, it would be flat impossible. Although, I straight up went carless for a year. My cab receipts were minimum $450 a month, lol. Totally worth never having to drive myself anywhere or ever having to park anywhere. I had to relearn to park when I got a place with a garage. I was able to do it because I had no family to visit in the burbs or anywhere within driving distance.
This place is totally doable for some DINKs who don’t mind cabbing it everywhere. The discovery of a planed roof deck addition is a game changer and would be worth giving up a car for. This place must have killer views of the loop from the roof.
“cue the people who think its not “that” bad to find street parking in the heart of lincoln park”
Its not bad around 10am during the week 🙂 and who ever said finding a rental spot is easy i will slap you, and whoever said renting a spot is cheap i will kick you in the ovaries (ballz).
The wife’s car is at the rental spot cause she walks everywhere and only uses the car to drive to the house. I get the spot with the apartment 🙂
I can say with 100% anger that if we were to be here for good we would be down to one car only.
Oops. Didn’t see about the rental parking.
Matt, where is the rental parking located?
Its down the alley about a block
So there is a master bath and the other full bath is upstairs with the main living space? So anyone staying in any of the other bedrooms other than the master would either need to 1) use the master bath to bathe 2) go upstairs to the living area to bathe or 3) bathe in the sink in the other half bath on the floor with the bedrooms? Seems like an odd configuration…..
Poor Matt. I feel like you do a nice job remaining calm and answering our questions (appreciated by me and probably your seller). I don’t understand why these people who can’t be without a car can’t just get a driver. Problem solved!
“Its not bad around 10am during the week and who ever said finding a rental spot is easy i will slap you, and whoever said renting a spot is cheap i will kick you in the ovaries (ballz).”
Renting s spot is not hard and it’s not expensive. **IF** you get an appropriate discount on the purchase price. Seems strange to me that on a site like this — where people are so quick to say it’s stupid to buy when you can rent for the same price — that the same logic is not applied to parking.
This place seems expensive to me, but not because of the parking situation. I’d be more concerned about: (a) spending $625k on a condo at all, and (b) spending $625k on a condo right on Halsted.
I feel for anybody who needs TWO parking spaces in Lakeview or Lincoln Park. One is bad enough. Remember renting a van to move a couple of items while I lived there, and circled the block 15 times in the rain, before I gave up trying to find a place anywhere near my apartment and took the van clear over to Belmont and Lincoln to park, then took the 77 bus back to my apartment.
The city does allow roof decks if they follow the rules. If made of wood, there are limits to the size and how close it can be to the property lines and roof parapets. The deck would need two separate exits leading directly to the outside – the strict interpretation of the code would mean these must be interior stairs, but in some cases one exit via an exterior stair could be allowed. (The exiting issue is further complicated by a duplex that may have only one proper exit to begin with). Stair enclosures at the roof would be subject to zoning limits on the buildings’ available (if any) FAR. Stair enclosures of a certain size can exceed the maximum building height in limited ways if they’re set back far enough from the front of the building. A contractor can price or draw whatever he likes, but always consult an architect for building improvements that present life safety concerns.
is a bathroom with shower only less valuable than a bathtub with showerhead?
A little off topic – What if you’re replacing a worn out deck that was built prior to the current rules? Must it be brought up to code?
“The city does allow roof decks if they follow the rules.”
Isn’t there some rule about no new roof decks in old town?
Laura’s comment made me LMAO! Ahhhhaha thats what you get for so publicly decrying dedicated parking as a necessity in Chicago on here.
To paraphrase from what I think I remember you posting “Ohhh but public transit is so great in East Lakeview why would anyone ever need a car?”
1. Public transit doesn’t go everywhere in Chicago and hardly anywhere in Chicagoland without being a logistical genius and allowing for huge amounts of time, and even in that case it still doesn’t go everywhere in Chicagoland.
2. If the bus or el is so grand why did you circle the block FIFTEEN TIMES before taking the bus?
Because the bus and el suck and all you public transit hippies are so far detached from the reality on the ground its funny.
Yeah I take public transit, but its because I’m so cheap not because its a better way to commute by any means. Its terrible. But at least I can sleep on public transit or read a paper even if I am exposed to huge amounts of germs and risk of illness in winter.
I am always amazed that in the discussions about how to get to downtown every day, people always talk about the Blue/Brown/Red lines and crappy buses, etc. but nobody ever brings up driving and getting a monthly parking spot. Tons of people drive and park. With a little homework and savy thinking, one can find a decent monthly lot or garage.
PS not a fan of Jack Berger’s communist bloc-Warsaw-gray bldgs. in River West. What’s up with the Mondial in River West, that bldg. is still unoccupied 2 years after completion, going rental? I’m surprised no stories have been written on that one.
“Tons of people drive and park. With a little homework and savy thinking, one can find a decent monthly lot or garage.”
There are lot of dumb liberal progressives here on Cribchatter. Fortunately for most real estate owners, they are the perpetual renter class. Owners drive and want parking. Its a reality. Deal with it.
To “Question” – It all depends on if you intend to obtain a permit for the work. Generally, replacements of improvements which were part of a project permit should be allowed. If there was no permit, replacement of an improvement which is allowed by right should also be allowed, provided the replacement project follows the current codes and you make good with the City. The City reserves the right to change and re-interpret the rules at any point.
“I am always amazed that in the discussions about how to get to downtown every day, people always talk about the Blue/Brown/Red lines and crappy buses, etc. but nobody ever brings up driving and getting a monthly parking spot.”
CTA pass – $85/month. Metra is ~$60 if available.
Parking anywhere near my office – $250/mo, + gas, + additional insurance, + possibility of tickets/fender benders
Not saying it’s an impossibility (I have thought of it often myself), but operating a car downtown during rush hour sucks butts.
“There are lot of dumb liberal progressives here on Cribchatter. Fortunately for most real estate owners, they are the perpetual renter class. Owners drive and want parking. Its a reality. Deal with it.”
Bob, why are you so quick to insult people who make differnt choices than you? And how do you expect people to take you seriously when you talk like this? It doesn’t make sense on a human level, or in interpreting the real estate market, which is what you ostensibly come to this blog to do every day. The market is filled with a lot of different people. A lot of them are people you would call “dumb liberal progressives.” A lot of those people have money. Judging from your comments on this board (disbelief that people make X amount a year, disbelief that people have enough to put 20% down) a lot of these people have more money than you. Accordingly, they are not the “perpetual renter class.” THAT is the reality. Maybe you should start dealing with it?
Thanks to Josh. Now I just have to figure out if it was permitted in the first place.
“To “Question” – It all depends on if you intend to obtain a permit for the work. Generally, replacements of improvements which were part of a project permit should be allowed. If there was no permit, replacement of an improvement which is allowed by right should also be allowed, provided the replacement project follows the current codes and you make good with the City. The City reserves the right to change and re-interpret the rules at any point.”
alanon, very eloquent and fitting post.
While I agree his method of responding to others he does not agree with is somewhat…bitter…he does bring valid points to the conversation/debate. Like all others here, you have to roll with the punches and take away any information that might fit into your situation. If you let his, or any posters outlook bother you it gets frustrating and you lose sight of the real reason you read CC.
That said, it seems as though Bob put himself in the same corral of those he has hatred for….those ‘dumb liberal progressives’ as he has repeatedly stated that he will be a renter for some time to come. I’ve noticed he frequently describes himself in his posts and I don’t think he really realizes it!! HEHEHE
There isn’t that much time difference beteen driving and taking the train during rush hour. I personally hate traffic. Especially trying to leave the loop between 2pm and 7pm on a friday. Ill take public trans thank you very much.
“There isn’t that much time difference beteen driving and taking the train during rush hour. I personally hate traffic. Especially trying to leave the loop between 2pm and 7pm on a friday.”
Depending where you’re coming from, of course, there is very little difference in the morning (except during the summer–driving is very easy during the summer–this morning even), but PM rush is generally much faster driving, if you’re leaving after 5:30 and not too close to the 6:xx train departure rush. Don’t know anything about 2pm Friday departures.
Back to the debate of parking…I easily found a living space that had two indoor parking spots included and it was exactly what I required for my business. Carrying around thousands of dollars worth of supplies and tools daily there was no way I was going to risk parking on the street nor would I take the time to pack/unpack every day.
It is all about what one needs or wants and there are options for everyone in the city…definately no need to belittle those who either take public transit or drive to where they need to go. While I was here, I drove everywhere whether it was for business or pleasure and never had much of a problem with finding suitable parking, regardless of the neighborhood.
I took CTA twice while I was there and after being a passenger in a taxi that was the cause of an accident on LaSalle (the driver was unlicensed and uninsured) I vowed never to do that again. If I could not drive/park to where I needed to go, I either walked or did not go at all.
lol; um that would be u too!
“I’ve noticed he frequently describes himself in his posts and I don’t think he really realizes it!! HEHEHE”
“If they can, they should spend a good 6-8k at Ikea and get a brand new kitchen.”
I doubt ANYONE would go to IKEA to replace their kitchen cabinets in a place that is listed at $625k! Ikea…yuck.
I have noticed a trend going back to all white kitchens recently. Sure is a nice break from the standard issue SS/faux granite/dark wood Chicago kitchens.
“There are lot of dumb liberal progressives here on Cribchatter. Fortunately for most real estate owners, they are the perpetual renter class. Owners drive and want parking.”
I suppose it was the perpetually renting scum in The 60614 who made Lincoln Park the highest donating zip code to the Obama campaign in 2008. Of course only brilliant conservatives live in the stately $1 million+ homes throughout Lincoln Park and clog its streets with Audis and Range Rovers. And all those Patagonia and LuluLemon clad shoppers at the Super Whole Foods are no doubt closet Palin devotees and Tea Party members.
Matt, I also appreciate you answering questions and giving information. I have roof rights where I live- they are a huge asset.
With that being said, I actually consider this to be cookie cutter. I have lived in a concrete loft and a timber loft and I am not quite sure what makes this loft like. It is long and narrow with the basic run of the mill windows so to me it looks like everything else.
Obviously- it has great square footage.
Yeah, have to comment on the parking thing. My boyfriend is a conservative and a partner at a major law firm downtown. He’s been in Chicago his whole career (currently residing at Clark and Armitage) and has never owned a car. To each his own, but it’s definitely possible to live in LP (and most other places downtown) without a car even if you’re not a ‘dumb liberal progressive’. BTW, with the advent of CTA’s Bus Tracker taking the bus is way better. Still not perfect and often aggravating, but I’ll take it over dealing with traffic (all those crazy cabbies!) and parking.
“Judging from your comments on this board (disbelief that people make X amount a year, disbelief that people have enough to put 20% down) a lot of these people have more money than you. Accordingly, they are not the “perpetual renter class.” THAT is the reality. Maybe you should start dealing with it?”
Bob is just a bitter guy. Probably the alter ego of someone who does ok, but not as well as he thinks he should / could.
I’ll side with Garrison on this one. Parking is an issue to some buyers, but not an insurmountable one, especially for a good agent and if the deficiency is priced in.
The fact of the matter is that this place is *still* priced $40K above a purchase during the absolute peak of the market ($585k in late 2006). That is an uphill battle for any realtor. Apparently, because this condo was first listed in the mid 700s a year or so ago as a prior poster pointed out.
Matt, I don’t get this. If you cannot get the value you want, why not follow through on your original gameplan, delist and be content with the market test? Alternatively, if you do want to sell where the market seems to be, why only reduce to a full 40k above the absolute top of the market? Money may have been put in, but those dollars i) depreciate (a foreign concept to resi RE people) and ii) are heavily discounted due to divergent tastes and preferences.
There seem to be 3 bed properties sitting just blocks away with more conventional layouts, parking, newer construction, etc. (in my view) that are priced 50k or more less. Seems like you have at least one hand tied behind your back.
“A lot of them are people you would call “dumb liberal progressives.” A lot of those people have money. Judging from your comments on this board (disbelief that people make X amount a year, disbelief that people have enough to put 20% down) a lot of these people have more money than you. Accordingly ”
A lot of them do. Heck a lot of people in Chicago have more money than me. What I don’t get is on places above a certain price threshold, say 275k, that don’t have parking.
I really think someone who buys a property without a parking space above this threshold really has their priorities messed up with regard to resale market.
Yeah owning a car in this city most would call expensive. But the reality of its a pittance compared to a hefty mortgage.
Its totally doable even on a working class wage and hundreds of thousands of Chicagoans live this way. To assume because you aren’t one of the “car crowd” and never plan to and pay a big price for a place is making an assumption that there is sufficient population who thinks like you down the line in the future and would pay what you did for the property.
I also continue to have a disbelief that people really have the liquid networth for 20% down, especially on first time homeowners. Its the rare mortgage when a property is dissected here on CC that has the 20%. Most often its 0-10% on properties purchased 2003-2009. Maybe its because they’re valuing liquidity as some point out but I rather think not. I’m going to go with Occam’s Razor on them not having the 20% down–they don’t have the money and liquidity isn’t an issue.
I think a lot of people have 10% to put down, but 20% is a whole different level of liquidity, especially as you get into the $500K and up properties. The fact of the matter is, you pretty much need that much cash anyways so you have some cash reserves/emergency fund, and other sources of savings. Live frugally and you can get there in a few years.
I live in Old Town and don’t have parking, and I paid substantially more than $300k for my unit. I can purchase outdoor parking in my neighborhood for about $40,000, or I can rent indoor parking for about $200 per month. At $2,400 per year, I would have to rent a parking space for more than 16 years just to spend the $40,000 without considering assessments, taxes and interest.
Or I can park in the street for about $300 per year (stickers and the occasional parking ticket). I don’t have to move my car every day, so I rarely have trouble finding parking within a block of my house. If I had to drive every day, I probably would rent indoor parking.
Where are my priorities messed up?
A unit identical to mine just sold last month for $45,000 over the purchase price from 3 years ago, so the lack of parking did not affect the resale value.
I think my example illustrates the point that generalizations often fall apart. Housing and parking is unique to each person’s situation and can not be generalized. I would not have any objection if someone said “I will not purchase a place without parking” but when a general statement is made that all properties over an arbitrary dollar amount MUST have parking, I realize the person saying it is projecting their opinion as if it were a hard-and-fast rule.
“A unit identical to mine just sold last month for $45,000 over the purchase price from 3 years ago, so the lack of parking did not affect the resale value.”
That would be Crilly Court, I assume (since that is the only properties I’ve seen lately in all of Old Town selling for more than what someone paid in 2007.) But not all of them are selling for more. Yes- a few have sold for more than they paid in 2007 but others have not. It all depends on the location in the complex- it seems (and size of the unit.) It’s like anywhere right now- but kudos to the few buyers who have gotten out of there with a profit. Impressive.
My problem with those units wasn’t the lack of parking as that was to be expected in a building right in the middle of old town and you’re buying for the location and ambiance. I assumed 3 years ago when they first sold them that it would get old real fast for any buyers who had children in there (going up and down the stairs combined with a lack of parking.)
It’ll be interesting to see what develops.
sold for less than the 2006 price and with a remodel since the 2009 listing.
ouch!