Get a 3-Bedroom Townhouse in East Lincoln Park for Under $400K: 344 W. Dickens
This 3-bedroom 3-story townhouse at 344 W. Dickens in East Lincoln Park came on the market in August 2011.
It has already reduced $50,000 to $399,000.
Built in 1962, the complex consists of 10 townhouses.
There is no monthly association fee but simply a once a year payment of $215 for snow removal and other outside maintenance.
The townhouse has central air, a lower level laundry room and a parking space.
The 3 bedrooms are all on the second floor with the main living area on the main floor.
There is a lower level recreation room and a 10×20 private fenced outdoor patio.
The unit has exposed brick and a spiral staircase.
Another townhouse, Unit #6, is also on the market. That listing, also 3-bedrooms on 3 levels, says it is 1479 square feet.
It is listed at $419,000.
Is this townhouse a deal for the location?
Lisa Campobasso at Re/Max Vision 212 has the listing. See the pictures here.
Unit #9: 3 bedrooms, 1.5 baths, no square footage, 1 car parking
- Sold in June 1993 for $220,000
- Sold in September 1999 for $288,000
- Originally listed in early August 2011 for $449,000
- Reduced
- Currently listed at $399,000
- Once a year assessment of $215
- Taxes of $6705
- Central Air
- Bedroom #1: 16×10 (second floor)
- Bedroom #2: 12×10 (second floor)
- Bedroom #3: 12×9 (second floor)
- Family room: 24×12 (lower level)
- Laundry room: 10×8 (lower level)
These places are a pretty dumpy, but they are 3 beds, with (outdoor) parking and w/d, in Lincoln elem and a couple blocks to the park. I’d say their main comps/competition are the 3 beds a few blocks north, on Grant just west of Clark (discussed on CC).
Compared to the Grant places, these are less expensive (no assessments), at least some appear to have carports, side by side w/d, family rooms, with no one above or below. The places on Grant tend to be renovated and generally in better shape (including the building), and have 2.5 baths instead of 1.5. It’s a tough call.
Is it the photography or is it just dark and dreary? Regardless, it seems like a good deal for the location. The sticking point will probably be the bathrooms. With only 1.5 baths, that means there is no master bath and then kids will have to share with the parents. I grew up in such a situation, but can’t imagine ever going back to that.
“anonny on September 21st, 2011 at 10:28 am”
The places on Grant tend to be renovated and generally in better shape (including the building), and have 2.5 baths instead of 1.5. It’s a tough call.”
What???? Not tough at all. That Grant place sold for $355. Do you really think it’s a tough call when this place is at $400?
Grant over this turd any day. The Grant townhouse was a 3/2.5. This is a 3/1.5. Grant was in better shape, by a lot if I remember.
This place is a bad buy above $325.
Would these townhouses be worth more as land given all the McMansions sprouting up in Lincoln ES school district? The lots for those mansions especially where you can build on a double lot are worth more than this property.
SoPo: The Grant places are condos (not that there’s anything wrong with that – it’s just that many folks place a premium on THs). But I agree, given the condition of Grant (at least the last few units to change hands there) vs. these Dickens THs, coupled with the second full bath at Grant, I’d take Grant in the mid to high $300’s over these places any day. Given what the seller of the subject TH paid ($288k – 12 years ago) and the fact that they’ve clearly done nothing to improve the place, they should be willing and/or able to accept as little as $325k, perhaps even $300k even.
“Would these townhouses be worth more as land given all the McMansions sprouting up in Lincoln ES school district?”
I’m not sure they’re all for sale, and I’m not sure buying them all for $300-400k would be worth it.
But in related news, did you see that the founder of Morningstar has acquired four lots from the developer of 2520 Lincoln Park, on which he’ll be building a mansion?
wow its apparent people will pay anything to live in Lincoln Park, the price here is a joke for this disgusting looking out of date dump. I rented a place exactly like (except nicer) than this in college for $600 a month
” I rented a place exactly like (except nicer) than this in college for $600 a month”
It must have been hard to make am classes in Chambana from a place under a quarter mile from the LP Zoo.
What kind of moron schedules themselves for AM classes?
Oh well, at least the assessments are cheap.
And the location is great. I guess all that is enough for some folks.
This ugly, dark, depressing, pathetically outdated space illustrates everything that’s wrong with “cutting edge” architecture. The more “modern” and “edgy” and “up to date” a place is when it’s birthed, the more obsolete and aesthetically unappetizing it’s going to be 20, 30, or 40 years hence. I can remember when places like this were the thing, just like others can remember when all the 4+1 buildings were new and glossy and “hot”, and the pathetic auto suburbs of the 50s.
Something to think about before you pay a steep premium for today’s bleeding edge with concrete ceilings and open ductwork.
“What kind of moron schedules themselves for AM classes?”
The kind who lives in Chicago while an undergrad at UIUC?
Ahem, Mid-Century architecture has a huge following, not everyone wants a high maintenance Victorian money pit.
Anyway,
Laura is right. And the choice isn’t just between cutting edge and Victorian. That’s simplifying it way too much.
There seem to be some pretty significant water stains on the brick… that alone would concern me. Location is great, but the kitchen is tiny and it needs a ton of work.
“illustrates everything that’s wrong with “cutting edge” architecture. The more “modern” and “edgy” and “up to date” a place is when it’s birthed, the more obsolete and aesthetically unappetizing it’s going to be 20, 30, or 40 years hence.”
Really? So structures born from the Chicago School movement are aesthetically unappetizing? How about the American Bungalow? Craftsman? the Prairie School? These were all cutting edge at one point, shocking even.
Im not defending this townhome development (because its garbage), just defending contemporary architecture.
I hope the people who end up buying this at least *consider* that their kids are likely going to have a not awesome time being mercilessly made fun of in school by the riche children.
Get in where you fit in, folks. Too $hort said that, and he certainly knew what he was talking about.
Then again, maybe someone with .01% baller genetics buys this, and their kids are the coolest cucumbers at Lincoln.
Ok, I’m done. I’ll go back to lurking again.
My wife and I lived next door for two years (in the apt. building at the SW corner of Clark and Dickens) and we really liked the location. I think due to the location and being an almost fee simple place, I see it certainly selling for mid-$300s to an empty nester that wants the halfway between single-family and apt condo, but it willing to spend on updating.
I would love to retire or empty nest in this location.
The 1 full bath would probably be the biggest thing holding me back from this place too. If they’d priced at $350k 3-4 months ago they’d probably have shifted the place at least at ask, if not higher with it being in Lincoln. It needs a lot of cosmetic work, but outdoor space and a parking spot would have made up for that in my book.
This place will sell when people realize that real estate is the safest investment out there right now. Look at the markets. Honestly, people are idiots and don’t know what is going on in the world. The world economy is in trouble. Investments (stock market, etc.) are VERY VERY shaky. Foreign investments even more so. Smart people will begin to realize this (realize that their stock portfolios lose money much faster than their real estate) and will begin realizing that by investing in homes, they not only protect their investment, but they also get to enjoy it. I am not trying to be a “real estate shill” – but the truth is the truth – ask anyone in the financial sector, and they will tell you the same thing (about the uncertainty of the stock/financial markets for the next 5-10 years).
Gross. Potential I guess. Great location and school though. Too bad just 1 full bath…
dude’s right, hardly cutting edge. Just trendy at the time. Probably holding up better than stuff built over the past ten years though.
“I hope the people who end up buying this at least *consider* that their kids are likely going to have a not awesome time being mercilessly made fun of in school by the riche children.”
Naaah, ya just gotta teach em to deflect that ridicule to the renters and free lunchers.
Like Sonies, I literally lived in a place just like this at UIUC, the Accordion apartments at Fourth and Gregory, across from the Armory. At the time we each paid $250 (in 1998!) for a 4 bedroom. Had the spiral staircase and everything.
I estimate it would take at least $30,000 to make this place look unlike a college apartment.
Mine was a 3(more like 2.5) bedroom 1.5ba and it was located around state & green, and it also had the spiral staircase 🙂
HOW MUCH DID EVERYONE LOSE IN THE STOCK MARKET TODAY? I BET IT WAS A LOT MORE THAN ANYONE LOST IN REAL ESTATE IN THE PAST YEAR!!!!
“I BET IT WAS A LOT MORE THAN ANYONE LOST IN REAL ESTATE IN THE PAST YEAR!!!!”
anyone? man you are a moron!
There are a number of townhouse clusters like this one scattered all over the North Side (mainly); I think some were built with federal subsidies in the 1960s to keep home owners in the city by supplying alternative housing with minimal upkeep.
The big problem with a lot of these developments is the “no assessment” aspect. On the surface it looks good – you don’t pay a monthly fee in exchange for paying for all utilities, etc. yourself, plus no condo-assn. hassles. OTOH if your neighbor does not maintain his lawn, etc. you have no “rules and regs” governing resident behavior and if your roof needs repair you’ll have to cough up the money yourself unless you can convince the neighbors to join in and make this a communal project.
As a result, I’ve heard of some people in these places trying to create an actual condo association to address these issues, with varying degrees of success.
Sonies,
uhhh why am I a moron? Seriously, did the value of your loft go down more than 5% in the past 6 months? I don’t think so.