How Valuable is Parking to a One Bedroom Condo in Old Town?
Rarely do one bedroom units in Old Town come on the market with parking (let alone two parking spaces.) It’s the nature of the older, smaller streets and no alleys as well as the density of the area. Two recent conversions at Crilly Court and 334 W. Menomonee both sold most, if not all, of their units without a parking space. Owners are relegated to parking at Pipers Alley- never an ideal situation.
A duplex unit in a historic building at 1760 N. Wells just came on the market with parking and washer/dryer in the unit.
Unit #2D: 1 bedroom plus small den, 1.5 baths, 2 car tandem parking
- Currently listed for $314,900
- Sold in April 2004 for $275,000
- Sold in May 2001 for $239,000
Would you pay over $300,000 for a one bedroom in Old Town? That’s a higher price point than we’ve seen in recent months. But then again, it DOES have the parking, a very valuable commodity.
Koenig & Strey has the listing.
Correction, Crilly Court sold out in days.
334 Menomonee sold 4 of 18 units after well over 1 year or marketing
Are you saying that parking doesn’t matter in Old Town then? The Crilly Court one bedrooms that all sold, without parking, were much cheaper than $314,000 (originally.)
They were around 260’s-310 or so at Crilly Court.