East Lincoln Park 3-Bedroom Vintage Townhouse Reduces: 524 W. Grant
This 3-bedroom townhouse at 524 W. Grant in East Lincoln Park came on the market in September 2019.
Built in 1881, it has 3 fee-simple townhomes and garage parking.
We chattered about this townhouse when it first came on the market in September.
See our chatter here (which had a surprised appearance from ze who is still down in Brazil, apparently, and where several of you complained about the taxes).
If you recall, this is the front unit which has a first floor terrace, the second floor front porch and a deck off the third floor.
You walk in on the main ground floor where there is the kitchen, living/dining combo and a half bath.
The kitchen has white cabinets, stainless steel appliances and granite counter tops.
The second floor also has a living room or family room with a fireplace along with two bedrooms, a bathroom and access to the second floor front porch.
The top floor is the master suite with a master bathroom with dual vanities, a walk-in shower and soaking tub along with a walk-in closet.
It has the features buyers look for including central air and garage parking is included.
It’s rare to find vintage townhomes in East Lincoln Park.
Originally listed at $899,000, it has been reduced $49,100 to $849,900.
Is it now priced to sell?
Craig Isacson at @Properties has the listing. See the pictures here.
Unit #A: 3 bedrooms, 2.5 baths, no square footage listed, townhouse
- Nothing shows up in the Cook County Assessor for this building
- Sold in February 2013 for $703,000 (per Redfin)
- Originally listed in September 2019 at $899,000
- Reduced
- Currently listed at $849,900
- No assessments as it’s fee simple
- Taxes of $8873
- Central Air
- 1 car garage parking included
- 3 gas fireplaces
- Bedroom #1: 19×17 (third floor)
- Bedroom #2: 13×10 (second floor)
- Bedroom #3: 11×10 (second floor)
- Laundry room: 6×5 (third floor)
- Living/dining room: 20×13 (main floor)
- Family room/living room: 12×12 (second floor)
- Kitchen: 14×9 (main floor)
- Second floor deck: 20×7
All of the getting-along-with-the-other-owners hassles with none of the shared expenses advantages. . .
Also, anyone familiar with taxes in the neighborhood would be terrified of the next tax assessment, making it very hard to budget. Taxes on this place could easily double.
“Taxes on this place could easily double.”
AV = 48,356, after an appeal. Original AV was 51,869, prior amount was 35,196.
Should expect at least a 50% increase in the first reassessment after a sale.
They had apparently been getting away with this place being taxed as a single unit for ~25 years.
I would have said this is now overpriced by a cool $50K, but the market is congealing. This is still overpriced….take another $75K off…and get them to pay 200% of this year’s tax bill at the closing table. Jagoffs.