After 2 1/2 Years, Our Favorite 1-Bedroom Lincoln Park Coach House Finally Sells: 2011 N. Kenmore
We’ve chattered about this 1-bedroom coach house at 2011 N. Kenmore in Lincoln Park several times over the last few years.
Check out our last chatter, in April 2012, here.
After originally listing for $349,000 in 2010, in April, the price had finally been reduced under $300,000 and some of you still thought that it was priced too high.
One guessed not more than $250,000. Another said $199,000.
It finally sold at the end of October 2012 for $260,000.
If you recall, it was a unique property. It was a duplex loft-like unit with skylights, exposed brick and exposed pinewood ceilings.
The last listing said it “feels like Aspen.”
The kitchen was newer and had white cabinets, stainless steel appliances and black limestone countertops.
The listing said a new half bath was added and that the master bathroom had been completely renovated with a new rain shower.
A couple of years ago, the Groove thought it was one of the “coolest quirkiest listings on cribchatter” and he especially liked its Battlestar Galactica vibe.
It had central air but no parking. The garage in the picture is for the building on the other side of the coach house.
This unit still sold over the 2003 purchase price.
Does this sale make you re-think the Lincoln Park market- even for 1-bedrooms?
Jennifer Mills at Koenig & Strey Real Living had the listing. You can still see the interior pictures here.
2011 N. Kenmore: 1 bedroom, 1.5 baths, no square footage listed
- Sold in June 2000 for $169,000
- Sold in July 2003 for $241,000
- Sold in May 2007 for $295,000
- Was listed in March 2010 for $349,000
- Reduced
- Had been listed for $315,000 since March 2011
- Reduced to $309,900 in March 2012
- Reduced
- Was listed in April 2012 at $285,000
- Sold on October 31, 2012 for $260,000
- Assessments of $110 a month
- Taxes of $3358
- Central Air
- Washer/Dryer
- No parking
- Bedroom: 21×18
- Living room: 24×13
- Kitchen: 13×9
Good prior Chatter. Winter is coming.
This resale means that it appears the LP market is over-performing the Chicago condo market as a whole. Sure the owner took a bath–but if you look at the CSI-CND index it’s far more off it’s peak than this is from 2007.
While this place has a lot of faults, I would still choose it over a similarly priced/sized condo. Not having to share a hallway is valuable.
greater fool theory continues to work its magic in LP
“While this place has a lot of faults, I would still choose it over a similarly priced/sized condo.”
Yes, because being on the hook for the entire wear and tear on a building is a great deal. It’s like owning a house, except you don’t.
Closed on Halloween. Seems appropriate as over time we will tell if it was a trick or treat!
Feels like Aspen? I’ll go along with that. And it looks like a place I’d love to rent for a one-week ski vacation (assuming it’s actually in Aspen, and is ski-in, ski-out). But to live in permanently? In an alley behind Armitage? Not for me.
That hole in the floor is a disaster waiting to happen.
Oh, yes, Aspen. I guess it is on the western slope of LP.
“I would still choose it over a similarly priced/sized condo.”
Yes, because being on the hook for the entire wear and tear on a building”
It IS a condo. It’s part of the association with the building fronting Armitage, which had a unit featured (twice? 3x?) on CC, too. So the question is whether the exterior of this place is a common element, too, what the assessement allcoation is like, and what recourse the owner of this unit has if the other association members say “no $$ for your roof” when it starts leaking.
“So the question is whether the exterior of this place is a common element, too, what the assessement allcoation is like, and what recourse the owner of this unit has if the other association members say “no $$ for your roof” when it starts leaking.”
Of COURSE it is. It’s part of the condo association. ALL common elements are covered. That’s the roof on this coach house and the roof on the main building on Armitage. It doesn’t matter. That’s why you’re in a condo association. The other members can’t say “we won’t replace the roof.”
“The other members can’t say “we won’t replace the roof.””
Really? You know for a fact that the coach house roof is defined as a common element in *this* association? Even if it is, you know for a fact that the other members (ie, the majority) can’t determine to merely patch it again and again and again? You’ve not heard enough horror stories about association fights to doubt your certitude?
My friend is selling a 2 bed 1 bath in Lakeview east of Clark for 225K. Seems like a better deal than this. I think this looks ugly and less private that I would want if I was having a friend in town staying over.
“You’ve not heard enough horror stories about association fights to doubt your certitude?”
No- anon (tfo)- I don’t know THIS particular association but neither do you. Condo associations are legal entities- with all that entails (and yes- lawsuits happen.) But that is true of ANY association- those with a coach house and those without. If the roof is leaking over one unit in a 6 unit building who’s to say the condo association won’t just patch that hole over and over and over again too? Who’s to say they won’t replace one staircase’s carpet and not the other on your side of the building? Who’s to say they’ll only cut the grass on one side of the building and not the other?
Don’t buy a condo if you don’t want the risk. This is true even in large buildings.
“My friend is selling a 2 bed 1 bath in Lakeview east of Clark for 225K. Seems like a better deal than this. I think this looks ugly and less private that I would want if I was having a friend in town staying over.”
Different location so it’s not a good comparable property. This location is nicer than east of Clark in Lakeview.
“Don’t buy a condo if you don’t want the risk. This is true even in large buildings.”
Exactly. I own a condo in a walk up in OT and the association has been fantastic. Our neigbors to the north fight all the time and send nasty emails to each other about simple things as who’s supposed to change a light bulb. (I miss the gossip….I dont live there anymore). I also own another property in LP in a 200 some unit high rise and alhtough it’s professionaly run, people are always complaining about something but no nasty law suits in the 9 years I’ve owned it.
My point is, it just depends on who moves in. My personal opinion, is stay away from buildings with attorneys….:) They argue for a living and generally aren’t very handy people with a sense of entitlement…..haha
LP is the place to be…BUY BUY BUY