Get a Newer 3-Bedroom in Lincoln Park for Just $350K: 1915 W. Diversey Parkway
This 3-bedroom at 1915 W. Diversey in Lincoln Park has been on the market since July 2008.
In that time it has been reduced $150,000.
It is also listed $111,000 under the 2007 purchase price.
It appears to be a short sale.
This building was completed in 2006/2007.
This 1800 square foot unit has upgraded finishes including a Viking stove and stainless steel appliances in the kitchen.
The bathrooms are stone and granite.
The unit also has an iPod docking station.
It has the features common to new construction of those years including central air, washer/dryer in the unit and parking.
Is this a deal?
Sophia Klopas at Koenig & Strey Real Living has the listing. See the pictures here.
Unit #202: 3 bedrooms, 2 baths, 1800 square feet
- Sold in August 2007 for $461,000
- Originally listed in August 2008 for $500,000
- Reduced numerous times
- Was listed in March 2011 for $400,000
- Reduced some more
- Currently listed at $350,000 (parking included)
- It appears to be a short sale
- Assessments of $250 a month
- Taxes of $5467
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 15×17
- Bedroom #2: 11×13
- Bedroom #3: 11×12
WOW, an i-pod docking station, oooooooooooooh!!!! How could anyone resist such a luxury at such a gift price!!
Nice apartment, but it’s just like about a thousand others built in every north lake front neighborhood.
Price sounds right, but it’s not a gift.
Wow! What an amazing unit! Great looking kitchen. Newer construction. Good location, there’s even a great spot for the tv above the fireplace. I’m serious. FHA approved is huge too – easier financing for first time buyers. The master bedroom is huge too. Most vintage and even sfh have tiny master bedrooms. Built ins look great too. Elevator building means never having to climb stairs to 3rd floor vintage units ever again. The price looks great too. The short sale may seem a little daunting but hire a qualifier Realtor(tm) to guide you through the process and you won’t regret it. This large two bed property at less than $200 psf is not going to last long I can assure you of that.
seems like a nice place and the price is pretty decent.
HD, i guess you passed page 112 of the Tony Robbins book i sent you.
Loop workers will need to take a bus, then transfer to the brown line. Google says 35 minutes minimum. Fun.
The bus will pick you up right outside, just a half block away from the Diversey and Damen convenience mart and gas stations, where all the hoodlums loiter. Fun. Where do they come from? I thought they closed the projects just west of here?
“Price sounds right, but it’s not a gift.”
10-15% overpriced. Knife caught maybe around $305k.
Good deal at 300k. Meh at 350k. Overpriced at 400k
These units are depressing. Just dark boxes jammed one on top of another, the closest thing to the projects you can buy. I am guessing the zoning was changed from commercial to residential and the developer either got lucky or paid off the right guy to get this many units crammed onto this spot.
I thought North Costco was a “no-no” on cribchatter. I have walked through these units. The unit itself if nice, but the location is less than ideal. The intersection of Diversey, Damen and Clybourn is horrible, with a project a stone throw away.
its friday, so i will be nice, ummm lets see
i like the light switch plates they use :)-
What’s with all that 2 color rooms? There are accent walls, and then there is the “we ran out of paint” look…which this borders.
Perhaps the worst location in “Lincoln Park”.
Brutal traffic, crappy public trans options, no good retail, projects on the corner, nowhere near the lake, and a concrete canyon of ugly condos up and down the street.
$250k
The interior looks nicer than I expected after seeing the exterior. I wouldn’t want to live on such a congested street though.
Is there such a thing is a bad location in Lincoln park? Some locations are obviously better than others but I’d rather live in a bad location in Lincoln Park over a good location in Humboldt Park, or portage park or Pilsen. Lincoln Park is Lincoln Park and the neighborhood has cachet. Most people will pay a premium for a lincoln park address and this place, with these finishes at this size is a steal to live in lincoln park, a steal.
“Perhaps the worst location in “Lincoln Park”. “
I hate that stretch of Diversey. Other than that is it really that unique from everything else in the immediate area that was built during that decade? I would perfer a similar place on a side street or slightly quieter area for the same money.
HD – Cut those pills in half! They are working well and I appreciate and fully support the new you but….I think that you are just slightly over medicated. You risk going into too happy zone where there is always a silver lining to every situation. If that happens then no one will ever value your opinion again.
lookie here – this unit will be across from the green market, if and when it opens. this is not a bad location. it’s got great access to the highway. someone who lives here doesn’t care about public trans. this is a nice unit and at a good price.
“HD – Cut those pills in half! They are working well and I appreciate and fully support the new you but….I think that you are just slightly over medicated. You risk going into too happy zone where there is always a silver lining to every situation. If that happens then no one will ever value your opinion again.”
short sale price… good luck
I would bet that there is at least 417k of loans on this place
I also hate this part of diversey its like schaumburg but way more congested
“Is there such a thing is a bad location in Lincoln park? Some locations are obviously better than others but I’d rather live in a bad location in Lincoln Park over a good location in Humboldt Park, or portage park or Pilsen.”
Well, the Clybourn corridor (narrowly defined) sucks. Not to mention that Diversey is barely Lincoln Park.
“lookie here – this unit will be across from the green market, if and when it opens. this is not a bad location. it’s got great access to the highway. someone who lives here doesn’t care about public trans. this is a nice unit and at a good price.”
I totally agree with you that it is for someone who might work in the burbs and drives to work as it does have fairly quick access to the outbound Kennedy expy. At least 10 minutes quicker access than their friends living in Wrigley or east Lincoln Park.
I think that your GPS is a bit off today. It is actually east of Damen putting it closer to Menards, Costco, and that low rise ok looking public housing. It is actually at Damen and Clybourn which is a very congested intersection.
Dark, cookie-cutter interior, hideously ugly building, terrible CTA options. Some bro will grab this up once it gets to $280k, not a second before.
I remember the douchebags that didn’t like my unit on that HGTV show bought a 2br place here instead… lulz!
http://www.redfin.com/IL/Chicago/800-S-Wells-St-60607/unit-1301/home/12724249
All someone needs to do is buy this unit for $322K, put in a sauna and some other nice upgrades, and then list it in 4 years for $685K and make a huge profit!
Sabrina how about a thread on this property? It seems like one that the CC community would enjoy picking apart. At least it includes a rooftop, good view of the loop (for now), and a river access for your boat. The Diversey property is a has an extra bedroom and is only a block from the river. I don’t think that you can park your Sea Ray and Jet Skis up there though.
A strong example of the interior (quite nice one at that) not matching the exterior whatsoever. I don’t think I would be happy coming home to see the exterior then realizing how much I love my place because of the interior. I am sure if has affected many potential buyers as well.
Regarding the painting/color scheme employed…I think it looks classy and modern. FAR better than white or even single color as this method adds depth and character to what was probably a very bland and standard issue place.
And yes all LP lovers…there are definately bad areas of LP, not so bad areas and of course, prime and beautiful areas. Just like any other section of the city.
jp3…your post on that development will cause other CC posters to disregard your future posts! I think that area is one of the most despised on CC.
Good luck on repairing the damage done to your reputation due to even suggesting that it be featured on CC!!
That said, it IS a nice and very unique place!
i dont know people, but I think this will sell over 300K.
I don’t know what’s more surprising: that it sold for as little as $461k in 2007, or that they’re hoping to get as much as $350k today.
I mostly agree with what people have said about this one. Bubble price is absurd, and this is a driving location without a ton of stuff going for it. That said, I think that the interior is pretty nice and it’s a decent size. Tray ceiling is a nice touch at this price point and it all looks pretty well-done. I’ve never seen those seams on the ceiling – could that be soundproofing?
Might not be a bad property for a buyer around the low $300s, so I think that this is priced at kind of a market price for the listing at it might go within 10% of that. I think that it starts to make sense as a rental for anything under $300k, as I think that you could get $2500/month for this.
To call this “Lincoln Park” is quite a stretch. Maybe, just maybe, it’s in the Lincoln Park community area, but living here and saying you’re in Lincoln Park is like living on 220th street and saying you live in Manhattan. You may be there geographically, but you’re not really “there” in a meaningful way.
I remember when there was a warehouse shell on this property. Chaz Walters tried to sell it forever. Then they put windows on it and kept trying.
Then they tore it down and built this.
There is a really nice/cute coffee shop near here. But, other than that, the location sucks.
Aside: there is a condo north on Damen from here that has a big sign hanging from the porch, “If you lived here, you could walk to Costco.”
“Maybe, just maybe, it’s in the Lincoln Park community area”
There’s no “maybe” about it. Is the north side of Lake-Cook Road in Lake County and the south side in Cook County? Is the part of K’worth that’s in Winnetka’s park district still K’worth? Of course, to both. Same thing here–it’s clearly within the boundary of the Comm Area.
Where you get the “maybe” is on the northside of Diversey, which is still 60614 zip code and considering whether or not community area boundaries–like school attendance boundaries–run down the middle of the street.
“I remember when there was a warehouse shell on this property. Chaz Walters tried to sell it forever. Then they put windows on it and kept trying.
Then they tore it down and built this.”
Yeah, was really surprised they spent the money on the windows, and then tore it down so soon after.
“Aside: there is a condo north on Damen from here that has a big sign hanging from the porch, “If you lived here, you could walk to Costco.””
Pretty sure that’s not a condo. They have a bunch of different signs that have been up since at least 2000.
whatever, this is a nice property in a decent northside location that includes parking and near the highway. This should sell quickly as long as the bank approves a short sale. great deal for the buyer willing to wait and navigate the short sale process.
“There’s no “maybe” about it. Is the north side of Lake-Cook Road in Lake County and the south side in Cook County? Is the part of K’worth that’s in Winnetka’s park district still K’worth? Of course, to both. Same thing here–it’s clearly within the boundary of the Comm Area.”
Is a korean “bbq” restaurant on the SE corner of western and berwyn in bowmanville?
Lincoln Park? Nice location? This location sucks!! I don’t care how nice a place may be – there is no chance I would ever consider living in another McCondo on another busy street. What can you walk to from here? CostCo? Sweet!!
Close to Rock n Bowl!
“great deal for the buyer willing to wait and navigate the short sale process.”
i say just wait two years for the foreclosure to hi the market and pick it up for 217k with taxes of 10k
“Is a korean “bbq” restaurant on the SE corner of western and berwyn in bowmanville?”
It’s in Bowmanville, but but does going there count as visiting Bowmanville? Like does spending time at O’Hare count as “visiting” Chicago? There’s no doubt O’Hare is in Chicago, but if you don’t leave the airport, can you fairly say you’ve been to Chicago?
HD-
Did you get a lobotomy sometime in the last month? Or did you maybe become a Reatlor(tm)?
I don’t recognize you.
“It’s in Bowmanville, but but does going there count as visiting Bowmanville? Like does spending time at O’Hare count as “visiting” Chicago? There’s no doubt O’Hare is in Chicago, but if you don’t leave the airport, can you fairly say you’ve been to Chicago?”
At least as much as driving through bowmanville b/c you forgot about what streets go where.
“If you lived here, you could walk to Costco.”
Anything that you buy at Costco requires a car to carry it home. Unless you want to walk a shopping cart full of goodies through Lathrop area.
Lived a block north in a coach at George & Damen for years, you can forget getting to the Loop in 35 minutes on public trans unless you’re paying the bus driver to ignore red lights and people waiting at other stop signs.
The congestion here is UNREAL on the weekends, we could have purchased here or further east where I grew up, but frankly I think I outsmarted all the Chaz Walters’ of the world by hopping over Western and the Expressway to get to the Blue Line.
Positive is the Damen bus. Negative is the Damen bus, as the stupid thing doesn’t run when you’d want it to so you can bounce in and out of Wicker in the wee hours.
“At least as much as driving through bowmanville b/c you forgot about what streets go where.”
Got me!
“Anything that you buy at Costco requires a car to carry it home. Unless you want to walk a shopping cart full of goodies through Lathrop area.”
This place, you’d cross at the light at Wolcott and roll up to Diversey with your wagon or whatever.
“Damen bus…in and out of Wicker in the wee hours”
It’s not just me? Man do I wish that line would run later on weekends. At least in the winter (I just ride my bike when its nice).
“It’s not just me? Man do I wish that line would run later on weekends.”
“50 Damen … Service Hours:
35th/Archer (accessible) (Orange) north to Ashland/Clark
5:35a-10:30p weekdays, 6:10a-10:30p Saturday, 6:05a-10:30p Sunday”
Would it really kill builders/developers to put any thought into the exteriors of their projects? This looks like a housing block straight out of Orwell’s 1984.
exactly – this must be a concession to the taxi lobby, because you don’t want people driving to/from bars!!!
“6:10a-10:30p Saturday, 6:05a-10:30p Sunday”
“exactly – this must be a concession to the taxi lobby, because you don’t want people driving to/from bars!!!”
They just need to push Sunday a bit *earlier* and it could work.
LOL. Had a friend who lived next door to the L/in the big building that also houses the Empty Bottle (I think) and we used to periodically just hang out on the street with his speakers cranked out the window until sunrise. Mid-late 90s or so, now that was the way to get to know Wicker Park – the street crazies just came out of the woodworks about 2 or 3 am. “No sir, thank you but I do *not* want a swig of your home-made special blend of Wild Irish Rose and Cisco. And no, I have no spare cigarettes/weed/acid/bus tokens/loose women on my person.”
“They just need to push Sunday a bit *earlier* and it could work.”
dammit, not the Bottle, Double Door. Too many bottles emptied in my youth, apparently.
Sonies,
440 in outstanding liens. Purchased with 5% down, then they somehow refi-ed the 368.6k first mortgage with a 371.5k mortgage?
“then they somehow refi-ed the 368.6k first mortgage with a 371.5k mortgage?”
Rolled in the closing costs.
I was referring to the fact that a bank would refi for > 100% of the value. Don’t they have to get a new assessment to re-fi?
“I was referring to the fact that a bank would refi for > 100% of the value. Don’t they have to get a new assessment to re-fi?”
Before or after Bear Stearns and/or Lehman?
There was a time you could get 125% LTV.
You could get 125% based upon what number you bid a house for. Oh those were the good days for the realtor professions. They’ll still be talking war stories from 2007 for the next 30 years. Good times.
Calling this Licnoln Park is like calling Homedelete savy!
Westlopelo
Missed your earlier comment about my link to that River City disaster. Apparently my Sarcasm was missed. Anyone that purchased that American Invesco disaster is screwed and this owner is in even deeper doo doo. How did they think that this unit was worthy of a $300k upgrade. They were nuts. Classic case of overbuilding a condo!
My joke was that they were both condos by the river and neither one had much chance of selling for the listed price. I would like Sabrina to do a post to pick apart all of the disaster that River City has become. It should have never stopped being a rental building.
Not prime Lincoln Park but Lincoln Park nonetheless. do you have a better name for it?
“Steve Heitman on June 24th, 2011 at 10:32 pm
Calling this Licnoln Park is like calling Homedelete savy!”
‘Not prime Lincoln Park but Lincoln Park nonetheless. do you have a better name for it?’
This is in the *community* of LP, but certainly not the *neighborhood* of LP, and the developers, agents, and sellers know it. Houses are sold by neighborhood (ie GC RV SV), not their shared community.
I don’t understand it HD, the one person who has called out the loudest that the game is rigged, still let’s the scam artists define the rules… it this case the neighborhood. Why not call it West DePaul, it’s official *neighborhood* title when you can make more money by piggy-backing off the success of the worlds apart / miles away, small but well known neighborhood of LP… and get away with it? That is, until the scam’s up, you’re broke and trying to sell.
#”Would it really kill builders/developers to put any thought into the exteriors of their projects? This looks like a housing block straight out of Orwell’s 1984.”
I always get a giggle driving by, noticing how they tried to switch up the facade to give the illusion of a series of different buildings, like rowhouses, when in reality it’s all the same single building built 5 times, side-by-side, with just different colored brick pretty much.
Diversey is mostly single lane from Damen to Ashland, and it’s horribly bottlenecked all the time.
Is that the real steve heitman back, or an impostor?
(oh, and HD, you’re cracking me up over here.)
“Not prime Lincoln Park but Lincoln Park nonetheless. do you have a better name for it?”
Lathrop homes.
NoCosCo
this was a slice of residential homes on a strip otherwise dominated for almost a century by Lathrop homes to the west, Hamlin Park to the north, and factories and shot-and-a-beer corner taverns to the east and northeast. this area literally never had a name, it was just whatever corner was closest to what you were trying to describe.
We jokingly called it Industrial Ghetto Park (or “Indy Ghetto Park”) if we called it anything whatsoever, but I don’t imagine that’s likely to tickle any realtor fancies any time this millennium.
These places are ugly pieces of crap!
That Dominick’s is a huge ripoff and way inferior to the Jewell at Wellington & Ashland. There’s a stupid loft building right around the corner on Clyborn which also looks completely out of place with a bunch of stuck owners as well.
There’s nothing worth a crap around here.
The loft south of Costco has been there for years. I’d bet there are stuck residents that bought during the run up in RE but others have been there for at least 15 years. They are ok on values.
There arec Some nice duplex units facing north. They were much cooler when the view was not the parking lot for Costco.
Are we talking about the condo building right in the middle of the parking lot between the Dominicks and the Aldi? That one was always a head scratcher.
By the way, the newer town-homes just east of the Metra tracks and north of Diversey was a landfill back in the day. Yes… they built houses on top of a former landfill.
“Yes… they built houses on top of a former landfill.”
Its Battery Park City Chicago!
Actually, all of Streeterville was built on top of a “garbage dump in the lake”.
Check out this article “Chicago’s Streeterville – derelitct landfill, really”:
http://www.seechicagorealestate.com/blog/chicagos-streeterville-derelict-landfill-really.html
and whole DC on a swamp!
The Gold Coast is a swamp that’s been filled in as well. Thank you Potter Palmer.
It all depends on how well the job was done. Homes that were built north of Addison, west of Western, and sold to Riverview employees are built on landfill. However, it’s getting pretty obvious that the landfill job was crap.
“Is that the real steve heitman back, or an impostor?”
Yes- that’s the “real” steve heitman.
Apparently, he’s still reading CC but has nothing much to add at the moment since prices continue to fall in his beloved Lincoln Park. Maybe he will return full time when we have hit the “bottom”- whenever that will be.
Ah, Sabrina. I don’t know what aspects of LP are beloved to S. Heitman, but it’s no secret which parts you’re most focused on: places like 1915 W. Diversey!
I can honestly say that the only time I pass 1915 W. Diversey is to and from the airport – and it’s in many ways the worst part of the whole airport commute experience. Indeed, I’ve actually come to prefer Fullerton, and even North (despite it being out of the way), when heading to the airport, simply to avoid that wretched and slow-moving stretch of far west Diversey.
“Maybe he will return full time when we have hit the “bottom”- whenever that will be.”
We’ve passed the bottom that’s why he’s returned.
“We’ve passed the bottom that’s why he’s returned.”
No there’s little evidence to indicate we have.
When I look at year/year CSI I see the past 47 consecutive months have a – in front of their percentage change. Next month will mark four straight years.
To even say that we’ve passed the bottom you would need to see some positives thrown in there, with an increasing number of them as time goes on. You’re grasping at invisible straws.
“To even say that we’ve passed the bottom you would need to see some positives thrown in there, with an increasing number of them as time goes on. You’re grasping at invisible straws.”
And you’re missing his “joke”.
“And you’re missing his “joke”.”
Its not really a joke its snarky hipsterish sarcasm. Where hipsters think they are smarter than people that don’t get it or choose to overlook their sarcasm. The joke is really on the idiot hipsters.
“Ah, Sabrina. I don’t know what aspects of LP are beloved to S. Heitman, but it’s no secret which parts you’re most focused on: places like 1915 W. Diversey!”
Lincoln Park is Lincoln Park. Sure- there are parts that not everyone is so keen on living (same with ANY neighborhood- the Gold Coast, Old Town, River North etc.)
I try and cover all parts of a neighborhood because that is more relevant to most people.
http://www.calculatedriskblog.com
“9:00 AM: S&P/Case-Shiller Home Price Index for April. Although this is the April report, it is really a 3 month average of February, March and April.
This graph shows the nominal seasonally adjusted Composite 10 and Composite 20 indices (the Composite 20 was started in January 2000).
House prices have continued to decline, and the Composite 20 index hit a new post-bubble low in March. The consensus is for prices to decline about 0.3% in April, however other indexes suggest the decline will be less (or even an increase).”
What don’t you get about the bottom?
“What don’t you get about the bottom?”
That you’re calling it despite overwhelming evidence the trend isn’t your friend.
Look HD:
“And Radar Logic went further and predicted the Case-Shiller index will show an increase for April:
Last month, we predicted that the S&P/Case-Shiller 10-City composite for March 2011 would be about 152 and the 20-City composite would be roughly 138. In fact, the 10-City composite was 151.66 and the 20-City composite was 138.16.
This month, we expect the April 2011 10-City composite index to be about 153 and the 20-City index to be roughly 140.”
WOW! An increase!
Oh wait what happened in April 2010 vs. March: 10 city index increased from 159.27 to 159.66 and 20-city index from 146.37 to 146.59.
Sounds like you’re parroting your views off of the guy at Calculatedriskblog:
“I still think prices will fall further in real terms over the next couple of years (inflation adjusted)”
But where is inflation? It’s supposed to have been coming for years now, but it’s only hitting imports and commodities. Price inflation is not going to hit housing. People don’t seem to be able to understand that inflation can apply to certain segments of the economy.
For comparison, March 2011 had a 10 city index of 141.2, a 3.67% decline from April 2010, March 2011 had a 20 city index of 154.74, a 3.1% decline from April 2010, Chicagoland’s decline was more severe, at -6.7% from April 2010.
Chicagoland is in for several more years of small nominal percentage declines (2-5%) by my estimation.