Back To the 2001 Price For This 2-Bedroom Lincoln Park Townhouse? 1437 W. Altgeld
We last chattered about this 2-bedroom townhouse at 1437 W. Altgeld in Lincoln Park in December 2010 as comparison to the gut rehab townhouse at 1814 N. Bissell that had the El running right next to the backyard.
See our December 2010 chatter here.
At the time they were both priced at $449,000. The one on Bissell went on to sell for $425,000.
This one is still for sale and has now been reduced another $40,000 and is now listed for $409,000.
It has 12 foot ceilings and the listing indicates that it used to be a 3-bedroom but one of the rooms was opened to create a family room.
That has now left the bedrooms on the top floor and in the lower level.
The kitchen has white cabinets, granite counter tops and new stainless steel appliances.
There is a small back yard, a third floor deck and a 1-car garage.
Will this ultimately sell around the 2001 price?
Monique Pieron at Prudential Rubloff still has the listing. See the pictures here.
1437 N. Altgeld: 2 bedrooms, 3 baths, 1 car parking
- Sold in May 1993 for $345,000
- Sold in May 1999 for $325,000
- Sold in August 2001 for $380,000
- Originally listed in September 2010 for $449,000
- Was listed in December 2010 for $449,000
- Reduced
- Currently listed for $409,000
- Assessments of $125 a month
- Taxes of $6417
- Central Air
- Bedroom #1: 15×15 (third level)
- Bedroom #2: 14×10 (lower level)
- Family room: 18×10 (second floor)
Too many levels, too small floorplates. And removing the bedroom hurts. No bath pix makes me thing they are 1993 originals.
yeah anon, but it doesn’t matter when you have a RILF selling the place. EMOTION is all that matters (According to the clio)
If this doesn’t sell quickly at the ask price, then the market is in for another big leg down. Great place, great neighborhood, two outdoor spaces, parking, in perfect condition, a townhouse not a condo.
The staging or the way the sellers live makes that property seem TINY. Removing a bedroom is always a mistake. This doesn’t meet my “desirable” property criterion necessary to be a valid data point, so I can’t completely agree with Laura, but I still think that it should easily command a strong number within 5% of ask.
“If this doesn’t sell quickly at the ask price”
This one:
http://www.redfin.com/IL/Chicago/2535-N-Greenview-Ave-60614/unit-3/home/13361397
Sold last summer for $400k. It might be a bit smaller, but the spaces look more livable and the 2 BRs are both upstairs. And it’s right around the corner. And has updated baths. And 35% lower taxes.
So, I think there’s a possibility of it going under ’01 price, but it *is* one of the cheapest 2/2+ townhomes on teh market in LP right now.
time to bring this back:
According to CC’ers these seem to be the places that should only be rented, never bought:
-Anything near the EL
-Anything too far from the EL
-Anything above a restaurant or certain types of stores
-Anything on the first floor / garden level
-Anything with less than 3 bedrooms
-Anything without a dedicated parking space, generally covered and heated
-Anything within 1/2 mile of public housing
-Anything on a main street (Clybourn, Belmont, etc. etc.)
-Anything without central air, in unit w/d
-Most things made since 2003-ish (they are all cookie cutter, low quality, cinder-block types)
-Any SFH not on a standard size lot or larger
Add “nothing west of Western” (TB)
only rent places with 1 bathroom (sonies)
Anyting In Uptown
Anything with wood-burning fire places
Duplex cannot be duplex down (Question)
something about suitable or unsuitable for vampires?
aura Louzader on March 18th, 2011 at 1:24 pm
“If this doesn’t sell quickly at the ask price, then the market is in for another big leg down. Great place, great neighborhood, two outdoor spaces, parking, in perfect condition, a townhouse not a condo.”
Totally disagree. I would rather have this square foot in a one level condo. Its more liveable, more open. Even with kids. Here, you cant see what they are doing in the other rooms. If you gate of the stairs for new walkers then you end up living on one floor most of the time and have even a smaller feel.
“If you gate of the stairs for new walkers then you end up living on one floor most of the time and have even a smaller feel.”
And, in this particular TH, if you gate the stairs, you live in one *ROOM*.
General question – Does anyone have a family room and living room that are both used regularly? And I don’t mean main floor living room and a basement family room. In this case they took down a bedroom to create a family room. Based on the pics, this is obviously where they watch TV. They have no TV in the living room. Do you think they ever really use this space? I know some people will say they want a formal space for entertaining, but what kind of ritzy parties can you throw in a townhouse that would require a formal living room? Tea and krumpets?
From what I can get, the floor plan on this makes no sense. what builder thought this was a good idea? any 3 level TH should have at least 2 bedrooms up. Having 1 plus a roof deck is just stupid
I looked at this one a couple months ago. It is nice, but I agree with all the comments on the removal of the bedroom. With the price drop I’m thinking of taking another look.
Re: Monique, if you think the picture’s nice, you should meet her in person… OMG!
“I looked at this one a couple months ago. It is nice”
Are the bathrooms updated? Nicely updated?
Agree.
“I would rather have this square foot in a one level condo. Its more liveable, more open. Even with kids. Here, you cant see what they are doing in the other rooms. If you gate of the stairs for new walkers then you end up living on one floor most of the time and have even a smaller feel.”
@EJ, thats funny you mention that, as she looks a lot like one of my friends… who is coincidentally named… E.J.
@Onlooker-
I have a double-parlor on our first floor and a bonus room/family room downstairs. I don’t use 1/2 the double parlor and almost never go downstairs at all. That being said, the space comes in handy because (a) the 1/2 of the double parlor we don’t use makes the space seem much more open, both because it expands the sightlines in the part of the parlor we use and we store a lot of books, etc., there, so it decreases clutter and (b) we use the downstairs room for guests, which adds a modicum of privacy (particularly since there is a bathroom down there).
@ Icarus – maybe it is time to buy the domain name http://www.cribhater.com and get it up and running as a sister site. Every listing that meets those criteria can get posted there instead.
This will sell at or above ask.
I’m not even a true bear about the market, BUT I actually buy what Icarus is selling on that list.
Why buy a place with 1bath? Why buy right under or immediately adjacent to the el?
Heck, why buy a townhome if you only need it until the kid goes to school and that will be in the suburbs?
“Heck, why buy a townhome if you only need it until the kid goes to school and that will be in the suburbs?”
Because before the bear RE market you could be guaranteed of at least breaking even at worst, or selling for far more than what you paid and being able to roll that gain into a new residence. The musical chairs game has been halted.
We have a living room and a basement family room. We use the living room to read the paper (sunny) and enjoy the fireplace. We have a tv in there, but never turn it on. We use the family room far more frequently. We have the big couch, the wet bar, the big tv, etc.
EJ – the upper deck looks like it’s close to replacement, was it as bad in reality as in the picture?