Live Near the Hot Division Street Corridor: A 2/2 at 1058 N. Paulina in the East Village
This top floor 2-bedroom at 1058 N. Paulina in the East Village neighborhood of West Town just came on the market.
For those of you have been reading this blog a long time, you might recognize it as we chattered about it when it was on the market in 2010.
See our chatter here.
Back then, some of you thought it was a little pricey for a “cookie cutter” condo. But that was in 2010, when we were still in the middle of the bust.
You may recall that it has a small Juliet balcony off the front of the unit and a deck off the back that is accessed through a separate hallway.
The listing says it has a “gourmet” kitchen with stainless steel appliances and granite counter tops.
The master suite has a walk-in closet and a spa bath.
It has all the other features buyers look for, including central air, washer/dryer in the unit and garage parking.
This unit didn’t sell in 2010 when we last chattered about it, but it finally DID sell in 2012.
A lot has changed in the neighborhood since 2010. The Division Street area has gotten even hotter as more restaurants and bars have opened.
This unit is listed for $90,000 more than the 2012 purchase price, and, at $419,000, would be a new record high for this property.
Will it get the premium in this market?
Sam Shaffer at Chicago Properties has the listing. See the pictures here.
Unit #3: 2 bedrooms, 2 baths, 1200 square feet
- Sold in April 2002 for $295,000
- Originally listed in April 2010 for $359,900
- Withdrawn
- Sold in July 2012 for $329,000
- Currently listed for $419,000
- Assessments now $118 a month (they were $150 a month in 2010) includes water, common insurance
- Taxes now $4739 (they were $4114 in 2010)
- Central Air
- Washer/Dryer in the unit
- Garage parking included
- Bedroom #1: 14×10
- Bedroom #2: 11×10
The only positive I can come up with is at least the TV isn’t above the fireplace
By Penthouse, do they mean some old magazines laying around?
penthouse – LOL
“INCREDIBLE HIGHLY SOUGHT AFTER EAST VILLAGE PENTHOUSE”
tone it down a notch there Sam, you sound desperate… not really needed in this market
Penthouse, wait…what??
I LOVE PENTHOUSE. AND HUSTLER!!!
Is this low assessment is a positive? There are probably no reserves. It means that everything is a special assessment. It looks like the current owners are paying nothing towards long-term maintenance. I’d hate to be in that unit when tuckpointing or roofing comes due.
I think a better system would be if the current owners were paying 1/20th of projected maintenance expenses towards projects that are due every 20 years.
They might get it. The property appreciated about 27% in four years or 6.5% per year. This is also a hot neighborhood in which a lot of 20 somethings and 30 somethings start out.
Great unit for families. Open floor plan is great for kids to run around. Short drive to local parks. Pritzker K-8 is great too; the spanish as a world language program is great for a diverse school. This is a steal