Is a 2/2 Under $400,000 Still the Dream? 3126 N. Clifton in Lakeview
This 2-bedroom at 3126 N. Clifton in Lakeview came on the market in May 2020.
Built in 1910, this building makes up part of a multi-building condo association called Clifton Row, that has 26 units and a shared rooftop deck on the building to the north of this one.
The listing says that this condo can be rented as long as the rental cap, which is 5 units, has not been hit.
This 2/2 has a classic vintage 3-flat layout with a bay window and a oak trimmed gas fireplace.
The listing says the hardwood floors have been refinished.
It has a separate dining room which leads to a 4×7 balcony where you can grill.
This unit has a split bedroom floor plan.
The listing says both bathrooms were redone in June 2019 and have marble floors and tiling with new grey vanities.
The kitchen has white cabinets, granite counter tops, a glass tile backsplash and stainless steel appliances.
It has the features buyers look for including central air and washer/dryer in the unit but there is no parking.
But who needs parking when it’s less than 5 blocks from the Red/Brown Belmont El stop and several bus lines?
In the housing bubble years, the 1200 square foot 2/2 condo was “the dream” for young buyers.
Listed at $385,000, is this condo still the dream?
Donna Wilkens at Jameson Sotheby’s has the listing. See the pictures here.
Unit #2: 2 bedrooms, 2 baths, 1200 square feet
- Sold in May 1998 for $218,000
- Sold in April 2008 for $341,000
- Sold in March 2016 for $325,000
- Currently listed at $385,000
- Assessments of $321 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $7027
- Central Air
- Washer/dryer in the unit
- No parking
- Gas fireplace
- Bedroom #1: 14×10
- Bedroom #2: 12×10
- Living room: 17×11
- Dining room: 11×9
- Kitchen: 9×8
- Balcony: 4×7
- Storage: 8×6
The small pool of young buyers (renting is more appealing these days) is looking at flashier developments in Fulton Market and West Loop.
It’s perfectly fine, and would be a nice starter condo for someone being ‘gifted’ (advanced on inheritance, lent for free) the ~$75k for the down payment. With the dp aside, it’s pretty cheap compared to those fancy apartments we keep saying are preferred.
“But who needs parking when it’s less than 5 blocks from the Red/Brown Belmont El stop and several bus lines?”
Friends don’t let friends buy Lakeview condos without parking.
Nice apartment
No parking + tiny rooms= rental. Anyone who pays nearly $400,000 is getting ripped off.
“Friends don’t let friends buy Lakeview condos without parking.”
Many Millennials don’t have cars. And GenZers don’t even care if they get their drivers license. My kids are waiting until they are 18 to even get it. It’s crazy. But they don’t care. They’ll just take uber.
“The small pool of young buyers (renting is more appealing these days) is looking at flashier developments in Fulton Market and West Loop.”
I agree KK. It’s hard to compete against all the cool apartments out there. And buyers have to come up with the downpayment and then commit to living in this property for a minimum of 5 years but maybe even longer.
Is Lakeview out of favor with buyers and renters now? It used to be the “go-to” neighborhood. Is it still?
“ Many Millennials don’t have cars. And GenZers don’t even care if they get their drivers license. My kids are waiting until they are 18 to even get it. It’s crazy. But they don’t care. They’ll just take uber.”
I’m going to chalk this foolishness to you believing everything that happens in your cocoon is by proxy what’s happening in the world.
Helicopter Parents have really screwed younger Millennials and GenZ. These kids want a cookie for everything, can’t deal with any adversity and don’t want to do anything that involves any risk.
Reality at some point is going to be a real kick in the balls
JohnnyU, how do you know this? Are you a parent or teacher? What gives you the knowledge that allows you to stereotype tens of millions of people and basically say they’re all ruined by helicopter parents?
I’m parent to two Generation Z kids (born in 2000 and 2003) and I don’t agree with you. Of course, my experience is anecdotal based on what I know about my kids, their friends, and various relatives in this age group. I imagine you have some anecdotal experience of your own, and perhaps you’re also a parent. If not, I think your opinion is less worthy.
Some folks who are millennials or Gen Z may well fit your description, but older generations always look down on younger ones, it seems to me.
“I’m parent to two Generation Z kids (born in 2000 and 2003) and I don’t agree with you.”
Me neither Dan #2. GenZ rocks. They are going to save us all.
They really just don’t want to drive. They don’t see the point in it and they think cars pollute. They have other ways to hang out with their friends so the “driving around” thing with them as teens just isn’t there.
That’s been my experience, at least.
The idea that 400k is a starter condo people in their 20s can afford is….insane. And the whole upside of living in the city is not needing a car, especially in that location. (I’m a Gen Xer, if that matters, and I’ve never had a license)
“JohnnyU, how do you know this? Are you a parent or teacher? What gives you the knowledge that allows you to stereotype tens of millions of people and basically say they’re all ruined by helicopter parents?
I’m parent to two Generation Z kids (born in 2000 and 2003) and I don’t agree with you. Of course, my experience is anecdotal based on what I know about my kids, their friends, and various relatives in this age group. I imagine you have some anecdotal experience of your own, and perhaps you’re also a parent. If not, I think your opinion is less worthy.“
Are you a helicopter parent?
All experience is anecdotal, but it’s my experience that kids with helicopter parents perform poorly Vs those who don’t have helicopter parents. This is backed up in discussions with peers.
Long suffering is a teacher, this is her experience as well.
“GenZ rocks. They are going to save us all.”
Save us from what?
JohnnyU:
I agree about helicopter parents, and there are many. Sounds like you know of some.
Plenty of kids also don’t have helicopter parents, and they’ll do fine. We’ve tried very hard to toe the line between helping our kids and not helping them too much, and that’s what I’ve seen with most of the other parents I know, too. If you haven’t been in the trenches yourself, it’s easy to criticize.
“My kids are waiting until they are 18 to even get it. … They’ll just take uber.”
Not that Uber enforces it much, but that’s a TOS violation.
thats pretty funny, my inlaws are insane helicopter parents and their kid I think is turning 17 soon and has no desire to get his drivers license… they live in the exurbs too
I just don’t get it, when I grew up in the burbs I literally could not wait to get my license, it meant freedom
“Plenty of kids also don’t have helicopter parents, and they’ll do fine. We’ve tried very hard to toe the line between helping our kids and not helping them too much, and that’s what I’ve seen with most of the other parents I know, too. If you haven’t been in the trenches yourself, it’s easy to criticize.”
I didn’t say all GenZ/Mil are a waste.
But in my experience theres a pretty strong delineation between the work ethic/social interaction/happiness between those with Helicopter parents Vs those that don’t.
“The idea that 400k is a starter condo people in their 20s can afford is….insane.”
*if* they are gifted the DP, this place is about half the monthly cost of the asking rent for a 2/2 in The New York apartments (not the sine qua non, but near-ish and easy to find pricing).
Do what you would do for that rental 2/2 and have a roommate–especially if one or both travel for work a lot, tho current environment changes that calculus.