How to Live in the Heart of Old Town and Still Have Parking: 205 W. Eugenie
This 2 bedroom townhouse at 205 W. Eugenie in Old Town just came on the market.
This complex was built around 1990 and is on top of commercial space that fronts wells. There are 10 units.
This is an end unit and has several exposures.
The first level has the living/dining room with exposed brick walls as well as a spiral staircase.
The kitchen has been “upgraded” with 42 inch cabinets, granite counter tops and stainless steel appliances.
There’s a half bath on the first and third levels, with the one full bath on the second floor, which also has both bedrooms.
The top floor has a den and a private roof deck.
The townhouse has central air and one parking space (which I can’t tell if it’s indoor or outdoor from the listing.)
The Wells Street area has been one of the hottest housing markets in Chicago since the Great Recession.
This townhouse hasn’t been sold in 11 years and inventory in the neighborhood is low.
Will this go under contract nearly immediately?
Grace Mullarkey at Baird & Warner has the listing. The townhouse is agent owned. See the pictures here.
Or you can see it at the open houses: Saturday, Sep 24 from 12:00-2:00 PM and Sunday, Sep 25 from 12:00-2:00 PM.
Unit A: 2 bedrooms, 1 full bath, 2 half baths, 1800 square feet
- Sold in October 1991 for $205,000
- Sold in October 2000 for $371,000
- Sold in December 2006 for $435,000
- Currently listed for $589,000 (parking included)
- Assessments of $218 a month (includes scavenger and snow removal)
- Taxes of $7670
- Central Air
- Bedroom #1: 15×11 (second floor)
- Bedroom #2: 15×11 (second floor)
- Den: 10×12 (third floor)
- Roof top deck: 17×8 (third floor)
One would really, really want to live in OT to drop a 1/2 mil on this
People love Old Town. It will probably go for close to ask.
I would much rather have two full baths than 1 full and 2 half baths. What were the developers thinking?
This is priced well and listed for a quick sale. A decent amount of space for a decent price. The fact of the matter is 1) prices are higher today in the GZ than in 2006 (go move to Bolingbrook or Hanover Park if you want a ‘deal’); and 2) Its not that difficult to get a loan these days, and I’m seeing lots of low money down loans. granted, this is more expensive than the average home, but on my desk now is a closing for a $300k home in Chicago at 98% LTV.
face it people, when two clowns with a tax refund and full time jobs at the verizon store qualify for $300k loans, the effects ripple through the market, and turn $200k homes in to $300k homes; and suddenly the $300k buyer is qualifying for $400k homes and so forth.
“I would much rather have two full baths than 1 full and 2 half baths. What were the developers thinking?”
That you could live here, never have overnight guests so need for anyone else to use a full, and you’d be two (rather than 1) toilets away from anyone ever needing to use *your* toilet in a multiple emergency. Or that you could have private primary and secondary toilets to segregate your toiletting needs.
“end unit”
doesn’t look like it based on the pictures… great job with that
This place sucks too… what mental person is going to drop 600k on this
Why aren’t there any pictures of the two half baths?
Is anything else available in Old Town, with low assessments, parking, and 1800 square feet at this price point?
“doesn’t look like [end unit] based on the picture”
Check out the streetview–the end unit on the Wells-side of the complex doesn’t have any windows on the north side.
And look at the roofdeck pic–the north end unit is the only one with the chimney on the north side of the deck.
Definitely the end unit, the benefit of which is proximity to the gate, and only one shared wall neighbor, rather than an increase in exposures.
“end unit”
i assume the brick wall with he fire place is the exterior wall? btw, brick should only be exposed if it’s really old…not from the 90’s.
Rather generic looking but good size for the money and has pretty much everything someone in this price range would want – parking / outdoor space / not duplex down and its not in need of major updating / repairs that I can see. This is also a quiet stretch of Wells – very different than living below North Ave with all the bars (benchmark / steak bar / etc). Nearest bar is the tap on wells which is south of treasure island. Also short walk to park and farmers market. This should sell quickly.
This is a good comp:
https://www.redfin.com/IL/Chicago/1712-N-Wells-St-60614/unit-2/home/26810096
Better building / more charm but no parking and a bit smaller. Sold for $603k. Considering this place is bigger and has parking this seems reasonable.
VOTE JAN TERRI 2016!!! OLD STYLE FOR ALL!!!
This is a good comp:
https://www.redfin.com/IL/Chicago/1712-N-Wells-St-60614/unit-2/home/26810096
Am I the only one who can’t stand the cook from your couch layout? I can understand dining/living rooms, but what happened to delineation? I would take Eugenie over the Wells address every time.
I take that back, didn’t notice the den.
“on my desk now is a closing for a $300k home in Chicago at 98% LTV.”
Woo-hoo! If lending to two clowns with a tax refund and full time jobs at the verizon store can turn $200k homes in to $300k homes we’ll all be rich, rich as Nazis.
I predict this sells rather quickly at this ask. Buyer will probably put less than 10% down too.
Personal taste aside, it doesn’t really “need” anything. Good schools too.
how are ppl getting Loans for so little % down now? I thought that stopped with the last crash?
It’s flawed, but it’s practically a 2010 era Unicorn candidate.
@ b: Lending is cyclical. The underwriting standards tend to be reactive rather than proactive because lenders don’t want to be left on the sidelines while everyone else makes and profits off of risky loans. As recent as 2013 you had to have 20% down or no dice but now we are almost back to the good ‘ol days where they are even suggesting a separate loan can serve to make your primarly mortgage LTV 80% or less so that you don’t have to pay PMI.
I think the documentation standards are still fairly stringent so hopefully we won’t see the rampant fraud on both the lending and borrowing side, that we saw in the years before the bust…but I am getting the impression right now that folks are still getting in way over their heads (citing description of Verizon store employees buying a $300K condo).
the people don’t actually work at Verizon but have secure jobs and the price is rounded up slightly but the point is that with a stable job and a tax refund nearly anyone with a 700 credit score can buy a house. this isn’t the first low money deal I’ve seen either. my dumbass god damn new neighbors to the north just bought with a low money down loan and these idiots CLEARLY bought into a neighborhood they otherwise wouldn’t be able to afford BUT FOR easy lending in 2016. they belong in Mundeslime but bought into long grove. THANKS WELLS FARGO!!!!
Snobby much?
the banks are supposed to the be gate keepers to exclusivity.
If you don’t need a jumbo, 3-5% down is definitely back
There’s quite a bit of retail on the bottom – are you sure you won’t run into GSA percentage commercial restrictions with that?
And here I thought I was the only person who called it Mundelslime.
Wait…this is the building with the Sproing Fitness? Good god. No one should pay this price then. I wonder how much thumping music and instructor countdowns and encouraging quips can be heard from this unit. Condo over retail is just too risky. What if hair cuttery leaves and another loud boutique gym opens below you? Yikes.
Yes, it is the building with the Sproing Fitness. I recall reading that the association sued or is suing Sproing over the noise from the exercise classes.
Yeah never live above or near a crossfit gym either… I lived above one and could hear them dropping weights inside TEN STORIES ABOVE!
This townhouse didn’t sell last year.
Came back on the market recently reduced $20,000 to $569,000.
Is under contract now.
Sizzle.
Closed for 569,000