Looking Under $250,000? A Vintage 1-Bedroom at 434 W. Aldine in East Lakeview
This 1-bedroom at 434 W. Aldine in East Lakeview came on the market in May 2019.
Built in 1910, this building has 20 units but no garage or parking. It has a common deck.
This unit has been freshly painted and has some vintage features like crown moldings.
It also has a vintage feature found in many units: a small sunroom which faces south.
The kitchen has white cabinets and appliances along with a breakfast bar.
The listing says the bedroom can fit a king-sized bed.
There’s no central air, just a window-unit a/c. There’s also no washer/dryer in the unit or parking.
But with a listing price of $225,000, is this a good starter apartment in a popular neighborhood?
Jesse Trevino at Century 21 SGR has the listing. See the pictures here.
Unit #2B: 1 bedroom, 1 bath, no square footage listed
- Sold in April 1995 for $92,000
- Sold in August 2000 for $148,000
- Sold in July 2002 for $167,500
- Sold in April 2004 for $182,500
- Sold in July 2008 for $215,000
- Originally listed in May 2019 for $225,000
- Currently still listed at $225,000
- Assessments of $215 a month (includes heat, exterior maintenance, scavenger and snow removal)
- Taxes of $3154
- No central air- window air unit
- No parking
- No in-unit washer/dryer
- Bedroom: 14×14
- Living room: 14×13
- Sunroom: 11×7
- Kitchen: 14×5
Sold in April 1995 for $92,000 + CPI = 155k
Sold in August 2000 for $148,000 + CPI = 219k
Sold in July 2002 for $167,500 + CPI = 238k
Sold in April 2004 for $182,500 + CPI = 248k
Sold in July 2008 for $215,000 + CPI = 250k
What’s fair rent for the equivalent? Looks like places in the 4+1s on Aldine are asking in the 1400-1600 ballpark, and this is probably a little nicer than that, but I dunno if it’s worth a premium. monthly to buy is right on the nearby rentals, but you’re accepting a fair amount of long risk (which, imo, is higher than average right now) then.
Not some kind of amazing, once-in-a-lifetime steal, but a perfectly nice place to live at a reasonable price.
Great block. I lived across the street from this building from 1975-1986.
I always think “sunrooms” are interesting..did they all used to be screened in porches? Do any buildings not convert these to sunporches..(I understand the need for more space, especially during a Chicago winter, but a place with no outdoor space (even quasi) would get very confining I would think…)