Get a 3-Bedroom a Block from Lincoln Park for Under $360K: 419 W. Grant
Location, Location, Location.
This 3-bedroom duplex up at 419 W. Grant in Lincoln Park is located just a block or so from Lincoln Park, the Zoo and all that Chicago’s lakefront has to offer.
It also has the amenities that most homebuyers are looking for with central air, in-unit washer/dryer and deeded parking.
The complex, the Portals at Grant Place, was built in 1971.
The unit has two balconies and a wood burning fireplace.
All 3 bedrooms are on the second floor along with 2 full baths. There is a half bath on the main floor.
The unit even comes with extra storage.
The kitchen has white cabinets and appliances and there is separate dining room.
The listing says the duplex is in the Lincoln school district.
It is listed $25,100 under the 2003 purchase price.
Is this a deal for the location?
Anne Victoria at @Properties has the listing. See the pictures here.
Or you can see it at the Open House this Sunday, Feb 13, from 11-1pm.
Unit #C: 3 bedrooms, 2.5 baths, 1620 square feet
- Sold in September 1997 for $225,000
- Sold in August 1998 for $283,000
- Sold in May 2000 for $338,000
- Sold in May 2003 for $385,000
- Originally listed in January 2011 for $359,900
- Currently listed for $359,900
- Assessments of $343 a month (includes cable)
- Taxes of $5031
- Central Air
- Washer/Dryer in the unit
- Parking included
- Bedroom #1: 13×12 (second floor)
- Bedroom #2: 14×8 (second floor)
- Bedroom #3: 12×8
Reminds me of my aunt’s 1980’s townhouse in Westmont. Do Not Want.
Although the architecture is not “ground-breaking” this is a nice amount of space in a great location at a very affordable price. The great thing about this location is that, with all of the activities you could be participating in during the day/night – you probably won’t even be spending much time IN your unit.
The architecture reminds me of this “new” listing – and when you compare the price and location, I would say that Sabrina’s subject property is a great deal!!
http://www.redfin.com/IL/Chicago/1038-N-La-Salle-Dr-60610/unit-E/home/12661258
A 3/2 duplex in ELP (and Lincoln) with parking at $360. LOFL, there’s already a negative coment too. Think about that.
This is the bottom, folks.
I got so spazzed out from seeing this listing that I spelled comment coment.
$30k would make this place look like a $550-$600 place.
“The architecture reminds me of this “new” listing – and when you compare the price and location, I would say that Sabrina’s subject property is a great deal!!”
The ELP property is $231,000 less. But it also looks a bit smaller and is not a townhouse.
Still- location, location, location.
It’s essentially 1600 sq feet for 360k, in an old old complex that is very ugly on the outside. I know that currently this screams ‘deal’, but just based on personal taste I wouldn’t live in a place that looked like this on the outside, just too ugly. The inside is fine but needs upgrades.
Granted, I might be missing somehting, but I would probably go for this place pretty quickly.
A good size with AC, in unit W/D and parking about half a block from Clark – Do want!
Yes the complex’s architecture is watered mid-century mod urban development-tastic (like a down market Sandburg Village – aka pretty bland), but this area would be my #1 prefered location to live in the City. I lived for two years a couple blocks south at Clark/Dickens and my wife and I loved it.
I could easily see moving into this with my family (me, wife and three boys). How I miss Chicago(land)!
We’ve (or at least I have, and Bob’s posted a link before) chattered about these units on Grant a few times. For the price range, they are absolutely the best deal going in this particular market segment (i.e., ELP and Lincoln attendance for under $400k).
If you are a prospective buyer in that market segment (i.e., you really want your one or two kids to attend Lincoln elem and you really want to be within a couple blocks of the park/zoo), and your budget is between $325k and $375k, then this Grant development – however institutional and uninspired it may be as a work of architecture – is going to be nearly impossible to beat. This place meets all of my Unicorn Criteria, with the exception of the parking situation (which, given the “extra storage” that this unit has, might somewhat compensate for the lack of a garage). The lack of a garage, and the somewhat odd deck layout (i.e., they appear to be semi-common with at least one other unit, off the master), was what took the previously listed Grant unit off our radar.
If you don’t have Modified Unicorn Criteria (i.e., Unicorn Criteria but with an uncovered parking space), I would respectfully submit that any comments you make dismissing this place out of hand are, to say the least, made without the proper frame of reference.
“It’s essentially 1600 sq feet for 360k, in an old old complex that is very ugly on the outside.”
Riz- if your budget is around $350,000 and you want a parking space and three bedrooms near Lincoln Park- what are your options? They are limited in this location. So you have to make some sacrifices if you want location.
No- not everyone would choose this architectural style. But if they want something else for $350k that is newer or vintage or whatever- then they would likely have to look in a completely different neighborhood.
I guess the question is- how much do you want to live in a certain neighborhood/location? What are you willing to sacrifice to get it?
“We’ve (or at least I have, and Bob’s posted a link before) chattered about these units on Grant a few times.”
That’s why I finally did a post on them. I was tired of you guys linking to them all the time. 🙂
I figured everyone should chatter about them to see what the fuss was about.
“I guess the question is- how much do you want to live in a certain neighborhood/location? What are you willing to sacrifice to get it?’
I guess i’m not that crazy for location. I like ‘ELP’ , but i also like southport, lakeview, bucktown, etc. If I was spending ~400k for 1500 sq feet i’d probably look elsewhere for something ‘nicer’.
I can definitely see this place’s appeal though, hence i agree it’s a ‘deal’.
That 2003 price seems like a great deal. Why was this place so reasonably priced when things were so bubbly?
As for it being the bottom – is (less than) 10% below the 2003 price the bottom?
So strange. Beauty is in the eye of the beholder. I love mid-century. So, this place just seemed kind of nice. I like the little courtyard thing. I like the size. The condition seems nice. Layout seems reasonable, as much as I can tell. Seems pretty cool. If this met my personal parameters, it would definitely be on the list.
For the area, you’d be hard pressed to get a better deal.
The exterior doesn’t offend me. In fact, I’d take it any day over that tragic balcony place on lincoln yesterday.
This is probably a good deal for someone who wants to be in the Lincoln Elementary district if the kids don’t mind 8 foot wide bedrooms. You could also get 1600 square foot condo in River North and go to the Ogden School which will have a brand new building next year in the Gold Coast. It too is a good school.
3br, a block to the park, 341k!!!!!!!
….enough said
“$30k would make this place look like a $550-$600 place.”
Not a chance. It would take 30k to redo the kitchen alone. This is a good price for a buyer looking for an “nothing-special” condo in a relatively good loc. Good price, good space, what else can be said?
I wouldn’t purchase this, as I prefer properities that have special features and/or are a little more “artsy” but for the price, loc, and space….you can’t go wrong with this.
“Not a chance. It would take 30k to redo the kitchen alone”
whats wrong with the kitchen? i think it “fits” the place.
Are the neighbors swingers? Just asking….
Will echo others that say these places are good choices for a small family who really wants to be in Lincoln.
Personally do not mind the small bedrooms for the kiddos, but do mind the lack of windows. Not big on the brick LR wall, either.
even though the 2nd and 3rd bedrooms are really tiny, I think this is a good deal and will get scooped up very quickly slightly over the ask price.
Executed Recorded Doc. Amount
05/30/2003 06/03/2003 MORTGAGE $365,000.00
$365,000 / #385,000 = 95% financing.
Executed Recorded Document Type Amount
05/31/2000 06/12/2000 MORTGAGE $270,400.00
$270,400 / $338,000 = 80% financing
Executed Recorded Document Type Amount
08/10/1998 08/13/1998 MORTGAGE $183,000.00
$183,000 / $283,000 = 65% financing
Executed Recorded Document Type Amount
10/01/1997 11/18/1997 MORTGAGE $202,500.00
$202,500 / $225,000 = 90% financing
It’s a shame that so much of LP gentrified during the worst period for architecture in human history.
I try to keep things in perspective though; anything I get depressed about this stuff, I go to Google Street View and look at 3255 S. Normal in Bridgeport.
interesting HD, that the balance on that loan now is approx the asking price + realtor commissions
dammit I mean the asking price is loan balance + realtor commissions (assuming all minimum payments 30 year fixed @ 6.5% blah blah blah)
That’s some surprisingly high appreciation for the 1997 buyer / 1998 seller … other than that, my only comment is to agree with others that this looks like a deal.
These units have always been well priced. I’m not sure why, because they are nice and location is great. I like them, for their simplicity and modernism. If I recall, Harry Weese designed these.
Good location. Seems to be a great deal. I wonder if the units are loud?
I have the same question as dd and Madeline. Why hasn’t this property seen the bubble? The outside is very unattractive and guess cannot be fixed, but one should be able to fix the inside without breaking the bank. If this one does not sell, I would be very surprised.
““Not a chance. It would take 30k to redo the kitchen alone”
whats wrong with the kitchen? i think it “fits” the place.”
Absolutely nothing..but not worthy of a 550-600k place imo in regards to putting 30k into it. Over mount sink, bland older appliances, white checkered floor and backsplash — does not say half mil plus.
“does not say half mil plus.”
well thats great because this place is selling for 359k!
Really, my only gripe with this places is that it would be a PITA to enter in a snowstorm/rain/bad weather. Imagine trying to get to your front door during the Blizzundah last week (Blizzard + Thunder = Blizzundah).
I think that this goes for $350k+ or even over asking and is under contract by next Wednesday. (If it’s actually in Lincoln, I didn’t check.)
Not for me, but I might stop by the open on Sunday to check it out.
Sonies – the context of my comment was in regards to ChicagoBull’s at 7:43 am, stating 30k would make this place look like a 550-600k place.
“Absolutely nothing..but not worthy of a 550-600k place imo in regards to putting 30k into it. Over mount sink, bland older appliances, white checkered floor and backsplash — does not say half mil plus.”
i know that why this place is listed at 350k.
and you know we have seen worse kitchens on way more expensive places here on cribchatter.
so i just chalk up the over mount, old appliances, checkered floor and backslash, small size to the price and size for the location. for what your getting i see the kitchen to be nice for this unit.
Que Jerry Seinfeld voice:
“and whats the deal with undermount sinks? mine just gets this gross mung trapped between the countertop and where the sink meets it”
Groove- if you put 30k into it, it will not be a 550-600k caliber place. If you put 30k into everything BUT the kitchen, it still wont be a 550-600k caliber place. If you update the entire unit, prolly closer to 100k, THEN, it MIGHT br a 550-600k place.
And I’m talking re-doing the bathrooms (assuming), in-wall speakers, fireplace actions, re-finishing/changing the wood floors, maybe some ceiling detail, etc…
$299,000.
hey Sabrina, speaking of Sandburg Village, is there anything interesting going on over there, real estate-wise?
I like it. This is the kind of place/price range/location I’m looking for. Now, if I could just sell my 2 bedroom condo.
“If you update the entire unit, prolly closer to 100k, THEN, it MIGHT br a 550-600k place.”
a-fed, correct 30k wont make it a 600k type of place. even 100k upgrades “really” wont make it a 600k place.
this is a nice quaint place, the reason this place WORKS is loaction, 3br, and PRICE!!!
over improving it will just muck up the balance it has.
“this is a nice quaint place, the reason this place WORKS is loaction, 3br, and PRICE!!!
over improving it will just muck up the balance it has.”
Yup, fully agree. Why put all that money into a place when you don’t have to. It works with what it has…
I saw a new short sale listing (07728131) in Hinsdale at 818 58th Street for $1.1M. Deal?
Good idea never take a listing/real-TORE’s word for it, but this place is solidly in Lincoln, whose boundary runs over to Halsted and up to Arlington.
“The listing says the duplex is in the Lincoln school district.”
“If it’s actually in Lincoln”
“Why put all that money into a place when you don’t have to. It works with what it has…”
and the money saved do something to make the exterior not look like a eastern bloc commy building.
*like have some one from pilsen paint a viaductesque mural on the whole thing.
*hang mistletoe over the sidewalks so people walking by have to kiss, and kissing makes people happy then they wont feel sad looking at the exterior.
*hire a guy to hand out lit sparklers to passers by. who doesnt smile when holding a sparkler?
hahahaha
Key feature: “Rarely available top flr”. That really makes this place desirable for a family, no upstairs neighbors.
I wonder if it’s as “sunny” and light-filled as they say? Could they put in a few skylights?
This appears to be a great place. I’m not sure what needs to be redone here other than the bathrooms (likely) and the smallish kitchen, $30K would do it adequately. A good investment also might be some new windows & sliding doors with some updated gadgetry/hardware on them, etc. so that might help in overcoming the 70’s-80’s psychology someone might attach against this place.
I wonder if it’s really 1650 sf, the LR seems smallish for that kind of square footage.
“Key feature: “Rarely available top flr”. That really makes this place desirable for a family, no upstairs neighbors.”
Also means you have to lug your groceries to the top floor, not to mention any furniture…
Only to the second floor, where the kitchen is.
These places have always been nicely prices for their location. Lots of families live there and they send their kids to Lincoln, or leave all together when the kids become school age. It’s not a building for young singles really, and it has it’s own little ‘cult like’ feel about it… they don’t really mix with the other neighbors… maybe it’s all that fortress brick out front, maybe they’re just too transient.
“Could they put in a few skylights? ”
No. Roof is a common element that they wouldn’t be allowed to mess with.
Russ: “Are the neighbors swingers? Just asking….”
The common courtyard looks pretty cozy, like you could easily swing from one balcony down to another.
Man I want this place.
Where is the parking? I hope it’s not a rented space somewhere else.
“Where is the parking? I hope it’s not a rented space somewhere else.”
Off the alley to the South. Would be no fun for the past 10 days, but fine most of the time.
I noticed this place a few days ago but didn’t say anything was waiting to pounce on anonny talking about a place 100k more is a good deal. Alas.
This is a good deal and I think will set comps on the way down.
“This is a good deal and I think will set comps on the way down.”
It’s a great deal, and will certainly set a new low comp for the complex. It will also pull down prices on slightly bigger and/or nicer units that are in west Lincoln Park.
But in terms of some places in the mid-400’s being a good deal relative to this place, well, they might be, provided that (i) they’re nicer places, (ii) with even better locations, and (iii) garage parking.
“These units have always been well priced. I’m not sure why, because they are nice and location is great. I like them, for their simplicity and modernism. If I recall, Harry Weese designed these.”
We’ve been in one of the units, and while we didn’t mind the exterior, what $30K — or even $100K — can’t change is that the units feel uncomfortably cramped. This is probably due to several factors, including the tiny rooms (potential $$ to fix), the low ceilings (good luck with that), and not enough windows to distract from those things. On paper (or online) the units look quite unicorn-y, but the in-person reality is quite different.
About 3 years ago, there was a unit in this complex that had been completely gutted and, based on the internet photos, it was beautiful, and it sold in the $500K range. So, maybe there *is* enough lipstick ….
Did anyone go to the open house this weekend? If so, thoughts?
Saw it on Sat. Somehow this place is much better on paper. Claustrophobic feelings certainly not helped by sub 8ft ceilings in some rooms. Also, not a fan of the exposed concrete and steel stairs leading to the unit. Big puddles to walk through and water dripping from trees and roof onto you.
Lower units seem much more desirable.
This had a contract immediately when listed and then was reactivated (don’t knw why it fell through).
Although I also like the lower units better for the outdoor space and you don’t have climb all those stairs and cat-walks, this is a great deal for having everything (location!, washer/dryer/parking, three bedrooms, outdoor space etc..) Will sell pretty close to list.
Can update finish level slowly and modestly. Might have old mechanicals and windows too at this price.
400 W Grant is a great block. I took a little blackberry video last summer:
http://www.youtube.com/watch?v=hc1Oc019EGU
It’s got a sale pending already.
I’m definitely curious to see where this one ends up.