Is Lincoln Square Still a Hot Neighborhood? A 3-Bedroom at 2326 W. Giddings
This 3-bedroom at 2326 W. Giddings in Lincoln Square came on the market in June 2020.
Built in 2008, at the height of the housing bubble, it has 18 units and an elevator with direct access to the heated underground parking garage.
The listing says this building is a LEED registered green building.
The unit has floor-to-ceiling window and crown molding.
The kitchen has light wood cabinets, granite counter tops, a tile backsplash, stainless steel appliances and a breakfast bar.
The master suite has a spa-like bath with a dual vanity.
For those looking for outdoor space, there is a covered balcony.
The listing says it has a large storage room which is included.
This unit has the features buyers look for including central air, washer/dryer in the unit and one deeded parking space is included and there’s a second one available for $15,000.
This building overlooks the quaint and popular Giddings Plaza, which gives the neighborhood a European feeling with its shops surrounding the plaza’s fountain.
Listed for $585,000, it sold as new construction in 2009 for $542,500.
Is Lincoln Square still a hot neighborhood or has the title been passed to Logan Square and the West Loop over the past decade?
Michael Battista at Jameson Sotheby’s has the listing. See the pictures here.
Unit #202: 3 bedrooms, 2 baths, 1540 square feet
- Sold in July 2009 for $542,500 (included 2 parking spaces)
- Sold in September 2017 for $555,000 (includes 2 parking spaces)
- Originally listed in June 2020 for $585,000 (includes 1 parking space and a second is available for $15,000)
- Currently still listed at $585,000 (with 1 parking space and $15,000 for the second)
- Assessments of $311 a month
- Taxes of $10,325
- Central Air
- Washer/dryer in the unit
- Bedroom #1: 16×12
- Bedroom #2: 14×10
- Bedroom #3: 13×10
- Living/dining combo: 26×13
- Kitchen: 16×10
- Balcony: 12×5
- Storage unit: 4×7
Owners should have tried to shove more crap into the living area to highlight the lack of space in the living area.
Realator must be a creative writing major. “Expansive & Wide Floor plan”?
Even with the “Large” storage area & “Sizable” balcony, “soaring ceilings”, “Spa caliber bath”. This ain’t 1540sf
“Sold in July 2009 for $542,500 (+cpi = $645k)
…
“Originally listed in June 2020 for $[600],000”
If hawtness is measured by price appreciation, then no. Especially as the will likely need to take $575 or less, including both spots, to get it done.
There’s nothing offensive about this unit, and I like Lincoln Square. But judging from the photos, the place has no personality. It reminds me of an extended-stay hotel. There’s nothing special that would want me to pay nearly $600.000 to live here. Plus the rooms seem small.
@Dan #2, the rooms do not seem small to me. I am not a fan of the layout, location, and balcony. It is on Lincoln Avenue and the area outside the condo is the “plaza”. There are always people around. Not sure that’s what attracts folks to purchase in Lincoln Square. The balcony also seems small and would feel claustrophobic if enclosed.
This is a unit on Damen (another busier street) that looks nicer, is larger, and contingent at $550k: https://www.redfin.com/IL/Chicago/4815-N-Damen-Ave-60625/unit-201/home/21812750?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link
I am curious as to what everyone else has to say about Lincoln Square as I own property here and have been growing increasingly nervous about how real estate will hold up during the pandemic.
I live very near Lincoln Square and am around the square proper, where this unit is, often. I like the neighborhood as much as anywhere in Chicago and have lived in around eight Chicago neighborhoods to date including many supposedly more glamorous that were really just more tedious and expensive.
I’m hoping the area can fully rebound from Covid. I don’t think it’s much more or less at risk of a market turn than anywhere else in Chicago unless things eventually got so bad with Covid that everybody starts walking or driving to work and the area’s proximity to the el becomes much less meaningful, especially with being a bit far to the interstate. As far as the markets holding up, I think we’re probably all screwed to some extent, the question is by how much and for how long? So far things seem rather static with pricing but I don’t expect it to remain that way as Covid keeps undermining the economy.
As for this unit it seems rather small and awkward and while it’s a great location I believe you could do better for the money.
The unit on Damen that Tom shared is much nicer, but Damen is a bit of a walk from Lincoln Square. Might be a bit quieter, but can’t remember how far it is from the El. Seems like north of Lawrence isn’t as desirable, either.
“The unit on Damen that Tom shared is much nicer, but Damen is a bit of a walk from Lincoln Square. Might be a bit quieter, but can’t remember how far it is from the El. Seems like north of Lawrence isn’t as desirable, either.”
From the square itself, sure, but it’s 4 blocks, so hardly much. There’s something to be said for being farther from Western too, and that part of Damen is fine if one is willing to be on Damen (vs one of the less busy streets) in the first place. But in LS much of the new condo construction is on the busier streets. The L is a non issue, as the Damen stop is at Damen and Leland, so this place is quite close without being too close.
The drawback I’d see is less being north of Lawrence (that area north of Lawrence is quite nice, IMO, although you probably can buy north of Lawrence a bit cheaper, not sure), but being so very close to Lawrence. It wouldn’t bother me, however.
Anyway, I love Lincoln Square and prefer it to the “hotter” areas, but I don’t think it’s “hot.” I also don’t think it’s particularly riskier than anywhere else in the city at the moment.
While I agree north of Lawrence is typically considered less desirable, that other unit on Damen is actually a pretty good location. Not super close to much worthwhile unless you count CVS and Marianos, but only about .5 miles to the heart of Lincoln Sq, 1 mile to Andersonville, walkable to a number of spots in Ravenswood and close to both the Metra and Brown Line. A very versatile location if you like to walk or take transit.
Nice looking unit and large. I like the fixtures and interior wall selections. Still, for me, this is a lot to pay to stare at brick walls out of all my windows. Or into other buildings’ windows. Not everyone cares so much about this, however.
Location is great. You could easily walk to work in the Loop from here, and the neighborhood just keeps getting better.
Oops – ignore above comment – meant it for the Washington Street one posted today.