Get a 3-Bedroom Townhouse For Under $340,000 in Wicker Park: 1756 W. Pierce
This 3-bedroom townhouse at 1756 W. Pierce in Wicker Park has been on the market since November 2009.
In that time, it has been reduced $108,000.
It is now listed not only under the 2005 purchase price, but it appears under the 1999 purchase price as well.
The townhouse, part of a 2-unit association (it is the one on the right in the picture above), has all 3 three bedrooms on the second and third levels.
There is a lower level family room.
The kitchen has maple cabinets, stainless steel appliances, and granite counter tops.
The townhouse has central air, a garage and a rooftop deck.
Is this a steal for the location?
Ian Schwartz at Coldwell Banker has the listing. See the pictures here.
1756 W. Pierce: 3 bedrooms, 2.5 baths, no square footage listed
- Sold in May 1999 for $340,000
- Sold in March 2002 for $415,000
- Sold in August 2005 for $450,000
- Originally listed in November 2009 for $447,000
- Reduced numerous times
- Currently listed at $339,000
- No assessments
- Taxes of $7976
- Central Air
- Bedroom #1: 13×13 (second level)
- Bedroom #2: 12×10 (second level)
- Bedroom #4: 10×11 (third level)
- Family room: 19×11 (lower level)
Great deal for that location.
Not such a great picture however, the realtor is supposed to photograph property when there are nice cars out front, plus they are supposed to park their own Lexus and get it in the photo.
bedrooms are small:
Bedroom 1: 13X13, Upper Level
Bedroom 2: 12X10, Upper Level
Bedroom 3: 10X11, Upper Level
“Is this a steal for the location?”
I think so. Taxes are gnarly and could use an appeal, but this is a an excellent price for this location and this space. Looks like someone agreed, as it’s now under contract.
How much do you think the taxes could be reduced on this one?
Yeah, it really seems like this ought to sell. Having looked to both buy and rent in the neighborhood, 3BR at this price with parking, it is tough to find a cheaper alternative if you’ll be staying for 5 years. Sucks to be this guy just across the street, even if the contract price was for full ask:
http://www.urbanrealestate.com/property/1747-W-Pierce-Unit-B-CHICAGO-IL-60622-EG2XC5WYJKGZO.html
I’m sure this is a ‘great’ deal but it’s still a snoozer. Swap the inside of this townhouse for any 1990’s townhouse in Algonquin I bet few of us could tell the difference from pictures alone.
Same carpeted bedrooms (i hate carpet), same baseboards, similar kitchen – even the living rooms are both painted the same peach color! Go figure.
http://www.redfin.com/IL/Algonquin/1075-Saint-Andrews-Ct-60102/unit-30-2/home/17795333
Very competitive price for a 3BR TH in WP with garage parking. Narrow, but often comes with the TH territory. Depressing with the bars and glass block on the living area windows, but roof deck helps.
uninspired, boring, meh location, high taxes
Algonquin is filled with drunk-drivers, this WP location is far, far superior.
“Depressing with the bars and glass block on the living area windows”
yeah I see that too, that photo up top is depressing with the weeds and that crappy red SUV with the rusted wheel, the cheap entrance door, the building starts to look like scattered-site CHA housing.
Yes, it is not a beautiful place, but it seems like an all right place for a young family who wants to be careful how much they spend. I thought taxes could be disputed based on the price reduction.
I am with you HD on the carpet. It just feels so dirty to me, especially that most people walk with their shoes on it. I removed all the carpeting in our house and feel it is so much airier and cleaner. I wonder if carpet is one of the reason’s people have so many allergies here.
clio should rent out his lambo for realtor photos….
young family? haha, whats the school for this house
Massive steal (wish I’d seen this one) – I bet you can rent out quickly for $2750/mo if not maybe $3000/mo.
Att area school is Burr. That would obviously be a major issue for a family with school-aged kids, which is perhaps one thing that’s caused this place to sell every 3-5 years.
I’m told this is now under contract. I saw this awhile ago and took a pass at the $379k price level. I can’t remember the details, but I know the layout was odd (not clear from the pictures). I was planning on going back to see it with the price reduction but didn’t get to it in time.
$339,000 is a deal for a townhouse just about anywhere decent in the city (odd layout or not). Good luck on the tax appeal — that amount is in line with other townhouses in Bucktown/Wicker. Can you successfully argue for reduced taxes just on sales price?
The property across the street is nicer, but no prize either. The big drawback on that one is that the living room and master bedroom windows look right out onto the alley.
“Att area school is Burr. That would obviously be a major issue for a family with school-aged kids, which is perhaps one thing that’s caused this place to sell every 3-5 years.”
Is Burr a bad school? I’m looking at other places in that area.
“Can you successfully argue for reduced taxes just on sales price?”
Yes, but you will need an an appraisal with local comps that support the purchase price and has a valuation date not too far off of the assessment date.
And the streets of damen and north in the city are not filled with drunken drivers on weekend nights?
“And the streets of damen and north in the city are not filled with drunken drivers on weekend nights?”
I dunno about Damen but North Ave _definitely_ is.
I guess these Wicker Park yuppies like the “edginess” of the city these drunken drivers provide. It’s all fun and games until you get rear-ended at high-speed and your spine is F’d for life.
“And the streets of damen and north in the city are not filled with drunken drivers on weekend nights?”
Probably not as many for sure. The drunks in the city can take cabs and CTA. No reason for a dui in the city.
The subject location in WP is walking distance to tons of bars and nightlife, you stumble or taxi it home. If there are drunk drivers at North & Damen, at least they’re not going 50 mph and running off the road, etc. There aren’t cops out with roadblocks in WP either.
This would have been a great place for us if my eldest had got into Pritzker (2nd round offers come today, so still in with a chance). Burr is a well-scoring school, I don’t think it would be considered a drawback in this location.
The unit for sale across the street has taxes of just $4,400.
“Probably not as many for sure. The drunks in the city can take cabs and CTA. No reason for a dui in the city.”
Stop trying to paint a prettier picture of this area than it is. I had friends that lived 1.5mi west down north and let me tell you most weekend nights you would hear drunks gunning it down North Ave.
Some consider Burr a great–and greatly improving–school. It is certainly not itself (yet) drawing families to Wicker Park. If you have kids and are looking at places in its attendance area, you’d be well served to do some research on the school, its soon-to-be new principal, its teachers, and its programs. Definitely go to an Open House, and try scheduling a non-OH visit as well.
“Is Burr a bad school? I’m looking at other places in that area.”
No reason to drink and drive in the city yet the 4th floor of the daley center has 10 courtroons with both morning and afternoon calls for dui cases.
And what about suburban drivers partying in the city? Driving home drunk? Like that never happens.
is there a prize in that box of Cracker Jacks?
“The unit for sale across the street has taxes of just $4,400.”
That’s what’s on the listing, but I question whether that’s right. The pin # on the listing is wrong. I did a search on the address but could only find the “A” unit — their 1st installment was $4,892.
“If you have kids and are looking at places in its attendance area…”
I don’t, but I just want to be aware of the quality of schools for effect on property value. That said, Bucktown/Wicker doesn’t seem to be obsessed with minor differences in school quality as in Lakeview/RV.
You obviously didn’t keep up with the battles over Drummond, Pulaski, Andersen/Lasalle, etc…
And surely North Center parents trump Lakeview ones in degree of school obsessiveness (for public schools anwyay)!
“Bucktown/Wicker doesn’t seem to be obsessed with minor differences in school quality as in Lakeview/RV.”
“I’m told this is now under contract. I saw this awhile ago and took a pass at the $379k price level.”
Next time you see a place you like, just make a lowball bid. At least they’ll know you are interested and they can always counter offer. What have you got to lose?
I agree. I think it’s a great price for the area, even with the high taxes since there are no assessments. If you can have the taxes lowered, even better.
It says all three bedrooms are upper level but the third bedroom shown is clearly basement level as the horizontal window indicates. Real-a-tard.
This looks like subsidized housing.
“This looks like subsidized housing.”
It’s not pretty, but it’s at least 10% under everything else on the market.
Despite all the negative comments, Redfin shows it as pending this morning.
Miumiu – I take the opposite opinion. I grew up in a carpeted house and have lived in carpeted living spaces all my life. There’s this marvelous new invention called a VACUUM CLEANER that residents of carpeted households use to cut down on dirt, etc. And there are also these really cool household accessories known as DOORMATS on which you wipe your dirty shoes/boots before entering.
Plus, during these loooong Chicago winters it’s SO nice to remove your shoes and dig your cold tootsies into a nice warm plush fabric rather than a hard and unforgiving floor. And that goes double when you wake up and place your unclad feet on carpet vs. floor first thing in the morning (or during a mid-night potty call).
Sure ChiTownGal that is why I guess many homes here have carpets. Personally, I feel bad asking my guests to take off their shoes when they come over for dinner as it ruins their outfit. Still people for various reasons may go to bedrooms that have carpet and I for one don’t think vacuuming can clean fabric. I like my wood floors vacuumed and mobbed at least one a week. But, it is matter of taste after all.
As for late night bathroom thing (believe me I am doing lots of those these days…lol), I have my fluffy slippers.
lol…meant to say mopped, but you know what I meant : )
Wall to wall carpeting kicks up my allergies. Wood floors plus area rugs do not. Go figure
We have carpet in the bedrooms as a rule. It also helps to cut down noise with two kids running around up there! We have a Hoover Steamvac that I clean the carpet with at least once a month, as well as going round with the regular Hoover a couple of times a week.
But you’ll never catch me putting carpet in the bathroom. Ewwwww!
I can see the benefits of carpet in a bedroom, but I love wood floors and find that area rugs can do the same as wall to wall if placed properly. Anyways, a good oriental rug ALWAYS looks better than ugly wall to wall carpeting IMO.
best deal ever. best best best.
how has no one mentioned the fully finished roofdeck?
or the fact that really this place has 5 bedrooms, if any realtor was allowed to include below grade rooms.
oh, and to this guy:
“It says all three bedrooms are upper level but the third bedroom shown is clearly basement level as the horizontal window indicates. Real-a-tard.”
they are all on the top floor. imagine that. the realtor included extra pics. more bedrooms! wowza.
i wish it was mine. and so do you probably. 🙂
I have seen this property, and its a steal for the location. 2 bedroom simplex condos within 2 blocks of this townhome have recently sold for more.
Too many of the above comments are based on only MLS pics and description, which do this property no justice. For starters, the carpeting looks great and is practically brand new. Ok, so you don’t like carpeting…..tear it up and throw in hardwood or laminate. Its amazing how many people out there think carpeting is a deal breaker. And you don’t like yellow paint ? Throw on your Dickies and pick up a brush.
Yes, this property needs a bit of updating. The typical buyer is lazy and only interested in turn-key properties. With a bit of elbow grease and under $25k, you can transform this place into a $450k+ townhome.
This property is a true 3 bedroom, with ALL 3 bedrooms above ground, all of which are adequately sized and can easily fit a queen size bed and nightstands. (sorry Haskel13)
I noticed a lot of comments about the “high taxes”. What you folks aren’t realizing is that this unit has ZERO assessments. Good luck finding a 3 bedroom condo/townhome with similar interior space in the neighborhood that isn’t close to $8k a year for taxes + assessments.
This property can easily rent and +cash flow, or be flipped for a nice profit. Otherwise the new owner will happily live in it for years to come, knowing he/she got a great deal on a great home in a great neighborhood.
If it was such a great deal- why didn’t anyone buy it for months?
And it’s not like they lowered the price and then everyone swarmed it. It was sitting there for forever.
I think it’s amusing that everyone was like, “it’s a great deal” when the “deal” was sitting there for everyone to see week after week.
Sabrina,
This property list price was dropped 40k and sold within 3 days. So, yes…people swarmed it !