Get a 2-Bedroom Mid-Century Townhouse for just $279,000: 3522 N. Pine Grove in Lakeview
This 2-bedroom mid-century townhouse at 3522 N. Pine Grove in East Lakeview came on the market in November 2022.
Built in 1948, this complex has 16 townhouses. It is a fee simple complex with a home owners association.
There’s no parking.
The listing says this unit is a total gut and warns “so please don’t expect it to be a quick lipstick update.”
It’s being sold “as-is” and is a Cook County Public Guardian Sale which needs court approval that the listing says make take 2 to 3 weeks from the date of the contract execution.
The first floor has the living room, dining room and kitchen. There’s carpet now but the listing indicates there may be hardwood floors underneath.
Is that the original stove in the kitchen?
The two bedrooms are upstairs, along with a full bath, and the primary bedroom has access to a front covered balcony measuring 4×19.
There’s a lower level with a recreation room and the utilities, including an “ancient” washer/dryer, an old broiler, not used, and replaced with newer gas forced furnace.
The townhouse also has a pull down stairs to access the attic, which can be used for storage.
The listing says:
NO PARKING. NO AIRBNBS.
Additionally, the complex appears to have a rental cap which is 3 units. The listing says none of the units are currently rented so you could “live there 24 months and rent it out.”
This townhouse is near Belmont Harbor, the lake front, 5 blocks from Wrigley Field and all the shops and restaurants of East Lakeview.
Is this a deal at $279,000?
Harry Maisel at @Properties Christie’s has the listing. See the pictures here.
3522 N. Pine Grove: 2 bedrooms, 1.5 baths, 1620 square feet, townhouse
- Redfin claims this sold in Sep 2007 for $300,000 but I can’t find that sale in the CCRD
- Two lis penden foreclosures filed in 2022
- Currently listed at $279,000 but is a Cook County Public Guardian Sale
- Assessments of $83 a month (includes scavenger and snow removal)
- Taxes of $605.61 (senior exemption)
- No parking
- No airbnbs
- Unclear about central air
- Laundry room in the lower level
- Bedroom #1: 17×12 (second floor)
- Bedroom #2: 12×10 (second floor)
- Living room: 17×16 (main floor)
- Dining room: 10×11 (main floor)
- Kitchen: 10×11 (main floor)
- Recreation Room: 20×27 (lower level)
- Balcony: 4×19 (second floor)
I dig the range & W/D
This is a $100k project just to get it to livable assuming that the buyer is going to do the majority of the work and you’re still stuck with a depressing public housing looking TH. Zero upside unless you absolutely have to live in this area.
Likely asbestos in the vinyl tiles
redfin definitely wrong–no 2007 sale; same owner since sometime before 1986, and no mortgage in that time, either, but problems getting the water bill paid.
Best case in the complex seems to be this one, that I think someone overpaid a bit for (new house smell premium):
https://www.zillow.com/homedetails/3528-N-Pine-Grove-Ave-C-Chicago-IL-60657/3716870_zpid/?
That seller paid $215k, and couldn’t have had more work than this one, in a world with lower materials costs.
Is that the original window in the living room? I like it but it probably will be replaced. All the windows probably need to be replaced.
This is why I don’t like fee simple townhouses. Everyone does their own thing. Who is in charge of the center courtyard landscaping? Does each townhouse control what is in front of their unit?
“but problems getting the water bill paid.”
Not just a “water bill”- right? Looks like they replaced some piping or something and she couldn’t pay for it.
I knew people who owned one of these units many years ago, and once visited (back in 1981 or 1982). The units are tiny. Maybe in the 1950s they were considered big enough for a family. Today they’d be considered quite tight. Perhaps a couple with one kid could make it work.