Highest and Best Offers: A 2-Bedroom Duplex Up for $535,000 in Old Town at 1760 N. Wells
This 2-bedroom duplex up at 1760 N. Wells in Old Town came on the market on September 5, 2024.
Built in 1897, 1760 N. Wells has 14 units, a shared roof deck and assigned parking behind the building.
There is no door staff or other amenities.
This unit has some vintage features including high ceilings, crown molding, hardwood floors on the first floor and exposed brick walls.
The living room has a “cozy” wood burning fireplace.
The listing says it has “Old Town Triangle charm.”
The living and dining room are open concept.
The kitchen has been “updated” with the cabinets painted white, quartz countertops and stainless steel appliances along with a peninsula with seating for 2.
There’s also a half bath on the main floor.
The second floor has both bedrooms and the two full bathrooms.
The primary suite has an en suite bathroom with steam shower and quartz countertops and a walk-in-closet.
The second bedroom is “spacious.”
The unit has a personal balcony and use of the common rooftop deck.
It also has the features that buyers look for including central air, washer/dryer in the unit and a tandem style parking space which can fit 2 cars.
This building is in the heart of Old Town, near the shops and restaurants of Wells and North Avenue, the shops and restaurants of Armitage, Lincoln Park and Lincoln Park Zoo.
The listing says that buyers should submit their “highest and best” offers by 12 pm on Monday, Sep 9, 2024. That was yesterday so this property may be under contract at some point today.
Listed at $535,000, that is $70,000 higher than the 2022 sales price of $465,000.
Will these sellers get full price, or more, by having a “highest and best” requirement?
Sarah Abu-Taleb at Compass has the listing. See the pictures and floor plan here. (Sorry for the Zillow but Redfin does not include the description for some reason)
Unit #2C: 2 bedrooms, 2.5 baths, 1293 square feet, duplex up
- Sold in November 1992 for $239,000
- Sold in September 1993 for $201,500
- Sold in July 2004 for $407,500
- Sold in October 2022 for $465,000
- Originally listed on September 5, 2024 for $535,000
- “Highest and best” offers due by 12 pm on Monday, September 9
- Assessments of $599 a month (includes exterior maintenance, lawn care, scaveneger, snow removal)
- Taxes of $10,294
- Central Air
- Washer/dryer in the unit
- Tandem parking space included that can fit 2 cars
- Wood burning fireplace
- Bedroom #1: 12×15 (second floor)
- Bedroom #2: 10×15 (second floor)
- Living room: 15×22 (main floor)
- Dining room: 8×16 (main floor)
- Kitchen: 9×14 (main floor)
- Balcony
“Will these sellers get full price, or more, by having a “highest and best” requirement?”
Bold strategy Cotton
Very mid and cheap looking
The parts that have been updated in the past ~10 years are okay.
The parts that were updated more the ~15 years ago look very dated and were merely okay when new.
The doors, etc, that haven’t been updated since it was a cheap rental in the 70s are cheap rental crap that’s also decades old.
It’s going to sell pretty quickly for around ask, but I think it’s too rich for what it is.
the fireplace looks like an afterthought, especially the way the current owners are using the space.
“It’s going to sell pretty quickly for around ask, but I think it’s too rich for what it is.”
Great location and it has two parking spaces in a neighborhood where having even one is rare.
I was also struck with this listing by how long most of the owners, until the most recent one, owned the property. Impressive. Can most people even see themselves in a property for 10 years these days?
for parking yes they are tandem spots.
completely exposed to the elements and on a low foot traffic street … basically park as plain jane of a car like a honda accord there and never leave anything showing in the car at all.
It’s under contract
“basically park as plain jane of a car like a honda accord there and never leave anything showing in the car at all.”
What’s wrong with that? Thousands of people park in spaces behind their buildings all over Lakeview and in other neighborhoods. Those don’t have garages.
Biggest issue, for me, is digging it out after a snow storm.
Thanks for the update Bluestreak. Will be interesting to see what this sells for.