Another Chance To Own an East Lincoln Park 3-Bedroom for Under $450,000: 437 W. Grant Place
This 3-bedroom in The Portals, the complex of 3-bedroom duplexes at 437 W. Grant in East Lincoln Park, just came on the market.
We’ve discussed several of these units over the years.
They are popular due to their relative affordability and their location in “true” East Lincoln Park.
The complex was built in 1972. All the units are 3 bedroom duplex ups- with the bedrooms on the second level.
This listing doesn’t give square footage, but in the past, they were 1600 square feet.
This unit is also a little different from others we’ve seen in the complex as it has a coffered ceiling in the dining room and crown molding.
The kitchen has maple cabinets and black appliances.
It has central air and washer/dryer in the unit. The parking is an outdoor space.
During the bust, prices of these units fell, with many of them selling in the upper $300,000s but recently they’ve been selling in the low $400,000s.
Is this a complex where price appreciation has essentially maxed out, other than inflation, even in a housing recovery?
Steven Heilig at Baird & Warner has the listing. See the pictures here.
Unit #C: 3 bedrooms, 2.5 baths, no square footage listed, duplex up
- Sold in July 1989 for $355,000 (typo???)
- Sold in May 1996 for $210,000
- Sold in June 2009 for $415,000
- Currently listed at $445,000
- Assessments of $330 a month
- Taxes of $4978
- Central Air
- Washer/Dryer in the unit
- 1 car outdoor parking
- Bedroom #1: 13×13 (second floor)
- Bedroom #2: 14×10 (second floor)
- Bedroom #3: 12×8 (second floor)
Yes, appreciation has maxed out for the most part. It will appreciate to the extent as cost of living but it won’t be a huge bump again. Interestingly, I wonder if these are now worth about what land value is? People are paying a million for land to build in LP. I wonder if the best appreciation might be to sell to a high end developer such as Environs, Middlefork, LG, Savane, etc.. The difficulty is getting hold outs to sell. This is why some parts of LP and the City will always have some ugly blogs Its much harder to renew the large 70s high-rises and old town home complexes. Much easier to beautify some of the areas that are just individual row homes.
Under contract!
Under contract already……. oh boy bobbo is going to be extra angry today….