No Cherry or Stainless Steel in this East Lincoln Park 3-Bedroom: 2044 N. Orleans
This vintage 3-bedroom unit at 2044 N. Orleans in East Lincoln Park has managed to keep some of its original features and character most likely due to the fact that the unit was not a recent conversion.
The building was built in 1890. The fireplace still has its marble mantle.
The condo has central air, but it doesn’t appear to have a washer/dryer in the unit.
The kitchen has white cabinets and appliances. There is a full-sized dining room. The unit also has a much sought after deeded parking space.
Laura Topp at Koenig & Strey has the listing. See the pictures here.
Unit #3: 3 bedrooms, 1 bath, 1200 square feet
- Sold in October 1993 for $207,000
- Sold in December 2000 for $339,000
- Sold in June 2003 for $330,000]
- Currently listed for $380,000
- Assessments of $250 a month
- Taxes of $4853
- Central Air
- No in-unit w/d
- Bedroom #1: 12×11
- Bedroom #2: 11×9
- Bedroom #3 (or listing says can be a den): 10×9
YAWN
Opposite of yawn. I like it. Much more interesting than a new McCondo or McLoft. Good location, too.
I like it, too, but the kitchen stinks (for the price–looks to be decent rental-quality, but not updated *at all* since 1993) and the bathroom should be a bit nicer.
I don’t know…I’d take this kitchen any day over the “granite ‘n’ stainless” specials that developers jack into every space nowadays. Also, yay! Not an open kitchen!
“this kitchen any day over the “granite ‘n’ stainless””
I don’t mind the color scheme, or even the laminate counter, but the overall cheapness and age of the cabinets and appliances is a downer.
The other day I was looking at a pricey house & loved its finishes & appliances. Then I realized this was stupid as there was a similar sized foreclosure nearby for 25% cheaper and no way were those finishes worth 100+k.
Gee if only i could be on the hook for nearly 400k to live in a depaul student quality rental…
1 bathrooms = fail
“Then I realized this was stupid as there was a similar sized foreclosure nearby for 25% cheaper and no way were those finishes worth 100+k.”
Yes, but this place is priced as if it’s upgraded, no? Or are other 2+den/1s listing for $500k? I wouldn’t have much complaint about the kitchen if it were $95k less.
“but the overall cheapness and age of the cabinets and appliances is a downer”
But doesn’t that make this a positive?
cause now you wont have to rip out the expensive and ugly SS/granite combo. you are taking out cheap laminate crap and will feel better 🙂
and now you will have a bathroom and kitchen that you picked out!!!
anyone notice the “vintage” sized bedrooms?
I kinda of like the place.
I would put in money to update the kitchen with SS…etc.
Rooms are small, but that’s vintage.
I don’t like the fact that it is one full bath, so I would look at the floor plan to see what could be added…
This place is heading back to pre-2000 pricing which I think was outrageous too. This is an apartment, not a condo. You can get a helluva lot nicer place for $380k imho.
Yes, it’s overpriced, but it’s only, like, 1.5 blocks from Lincoln Park proper. Also, patty melts? RJ Grunt’s, people.
location. And Parking.
i like it too! agree that it’s much more interesting than cookie cutter new construction condos/rehabs. i would love to see more of these kind of listings on cribchatter.
IDK 350k with parking 3br and A/C for this location might not be over priced?
think about it
Nice at the 2003 price to start – no appreciation for you.
Location, A/C (I’m sure space efficient W/D could be put somewhere) and parking in this neighborhood is a pretty good combo.
Also, I spent alot of time on this street in 2002-2004, because my first apt in Chicago was in the building at the northwest corner of Clark/Dickens. My wife and I lived in a small 1-bd on the 3rd floor for 2 years and loved it. That immediate area of LP is the best and my favorite part of the entire neighborhood.
If we could ever afford a family sized place (2 adults, 3 boys, one Lab) with one parking space in that area of LP, I would try my hardest to make it happen.
Absolutely. This is really actually Lincoln Park and not the elastic, stretched-beyond-recognition definition of the neighborhood that realtors use. I mean, that awful-looking SoNo place is considered to be in “Lincoln Park”? No way.
This place isn’t perfect but high marks for location, charm, parking, and central AC. I just wonder… 3BR in 1200 square feet, plus a formal dining room, makes me think it feels a bit tighter in real life than in the photos.
“3BR in 1200 square feet”
The 3d BR is the sunroom/office/den/LR extension with the glass wall. It’d live like a nice sized 2BR.
Hm, despite my normal inclinations, and much as
I love to laugh at overpriced properties, I would consider this at a little bit above 03 price. Great location, great school, beautiful building, parking, top floor, real dining room, good outdoor space. However, can’t be that many people like me who who love these things and will overlook the small rooms, 1 br, old cheap kitchen/bath, no w/d, etc.
What does it mean for the City of Chicago to file a Lis Pendens?
My experience indicates a code violation or eminent domain, but the attys here can confirm/correct.
If were looking for a condo now I would be interested in this place. Hard to find something this nice, with parking, this close to the lake, under $400k.
“What does it mean for the City of Chicago to file a Lis Pendens?”
Usually–That they have filed suit seeking a lien for unpaid water bills or building code violation or whatever. If you go to the clerks office (or pay the $2 to view it online) and look at the recorded doc, it should tell you.
Russ, Anon,
I respect your opinion, so I’m curious – can you find a nice, vintage, top-floor 2BR+den or 3BR w/ parking in this area for under 350? Do you (or anyone?) want to post examples? I would love to see them
roma:
I was probably undervaluing the parking and the really excellent location. I still expect better kitchen/bath fixturing than that for $380k, but then I’m not remotely in the condo market.
The location is insanely great. The building looks ok.
I don’t see it as a great rental, but if I was going to live here for the next 10+ years I’d look into this unit.
As for pricing, well 380k is the list price. I wonder how much of a discount it will go for…
i still say the kitchen and bath are a positive and think the price reflects the shortcoming.
Look at it as you will get to design your own brand spanking new kitchen and bath plus during the redesign you can throw the W/D combo in somewhere.
for me if i was renting right now and want to buy this place would be very very very high on my list.
Roma:
I am sure there is something out there. I just don’t think $380k for a 3/1 is makes a lot of sense. Yeah, I know a lot people in this city think Lincoln Park is some sort of promised land, but I ain’t one of them. I would rather move somewhere else with similar amenities and access to public transportation and get more for my money. To me, this place is a slight step above a rental unit and at the end of the day it it still is a non upgraded 1 bath room unit. Lincoln Park or not.
“i still say the kitchen and bath are a positive and think the price reflects the shortcoming.”
So, if it had an updated kitchen and bath, they’d list it for $350? Or for $410k? I’m confused, groove.
If this place had two bathrooms it would sell tomorrow for 380k
But it has just 1.
“So, if it had an updated kitchen and bath, they’d list it for $350? Or for $410k? I’m confused, groove.”
Assuming here, the sellers are listing a “hope LP address” above what the will take. i.e. 5%-10% off list.
an updated kit/bath with nice vinatge baseboards and molding….then this place would be listing at a crazy price of 450k. and we all would be laughing.
for reno..now a small bathroom like that 7k could have it nicely done if one stays with the feel of the place. 30k for the kitchen if one doenst go overboard and stays with the feel of the place.
anyone disagree? (remember i am an anonymous intertube idiot)
“I know a lot people in this city think Lincoln Park is some sort of promised land”
Russ,
it may not be the promised land (joe smooth) but i do think it deserves a premium attached to it. call me a LP kool-aid drinker but when you get a combo of lake, great parks, zoo, schools, shopping, dining all a booger flick away from your front door (easy walking distance).
anyone disagree?
No doubt LP gets a premium, but to me this place is a step above a rental property and at the end of the day it still is a just a 1 bath unit regardless of location. I understand why people pay obscene amounts for decent sized 2/2s and 3/2s, but 1 bath units to me just don’t seem to justify prices this high regardless of location.
crazy my wife just looked at the listing and wants to go see this place (like we have the time).
IDK could the grooves really do without a huge yard?
i dont know how i feel about space pak cooling.
“but 1 bath units to me just don’t seem to justify prices this high regardless of location”
you do have a point about the one bath and the price. i will disagree about being a step above rental grade, i havent been in the unit yet but from the picture the rental grade is the kitchen and bath (which will be redone by new owner).
for the one bath thing, people like me are used to that in chicago. My house has one bath. (i exclude the full bath i built in the basement, it only gets used for guests and parties or when i need to drop a stinker).
“you do have a point about the one bath and the price. i will disagree about being a step above rental grade, i havent been in the unit yet but from the picture the rental grade is the kitchen and bath (which will be redone by new owner).”
So, you think, updated, this place is worth $425k?
And, your wife is being nuts (no offence–i’m all about love). The last thing you need is to buy an apartment that would be seriously cramped with two (nvrmnd 3) kids. You want a close-to-the-park 2 br, rent it.
What’s with all the books? Where is the flat screen TV? Why is it not above the fireplace? FAIL! *sarcasm*
“So, you think, updated, this place is worth $425k?”
its a good question, but i will answer no cause in my backazzward mind at 340k this price is ok knowing that i will GET to remodel the kit/bath they way i want it to look. if it was turn key and was 425k i wouldnt be happy. you see where i am coming from here? (i know i am coming from a strange place on this one).
“And, your wife is being nuts”
and me also, i was the one who hyped it up when i called her (suggestive tampering on my part).
This place is not that much smaller than what i am rolling in now (living space wise excluding 3br/guestroom in basement and huge media room in attic). and if we can talk the seller into 335k its at a price we can swing where she wont have to go to work and be able to spend $$$ on the surrounding amenities. plus if we rent we wont be able to re-do the kitchens and baths.
i may come to back to earth tonight, the wife is dropping little groove off at grandma’s we are ordering chinese and having a three movie relax night/sleep in saturday morning.
I don’t think the price is that far off. The location is nice. And this is from someone who hates LP.
I couldn’t see living with one bath with kids (is there even a half bath?), if you were thinking of this over 5-10 year horizon. I’m ok with amount of space overall but not the bathroom thing. I would make a different tradeoff for the same price range.
So I grew up in the burbs. Thought it was funny when some ethnic comedian Russell P mentions jokes about kids being sent to their rooms with the other response of…you had a ROOM?
I had friend who grew up in the city. NW side. Single family. 3 – 4 bedroom. One bathroom. I used to think WTF. But apparently that’s how it was.
I’d still want to look at the floor plan to see if you can squeeze in a second bath.
One of my 2/2’s in Old Town is 1400 sq. ft, but the bedroom sizes are generous.
I also like the fact that there is a separate dining area and siting area vs. this combined great room crap.
Anybody hear anything about alleged mortgage fraud in short sale transactions at JP Morgan Chase and Citigroup? Allegedly, they are trying to get cash out of short sales where they are second lien holders.
Per CNBC,
” Since many second lien holders are getting very little, they are now allegedly requesting money on the side from either real estate agents or the buyers in the short sale. When I say “on the side,” I mean in cash, off the HUD settlement statements, so the first lien holder doesn’t see it.
“They are pretty clear and pretty upfront about the fact that if the first lender knows they are getting paid, the first lender will kill the short sale,” says Brandt. “So these second lenders are asking for the payments off the closing documents, off the HUD statement, usually in a cashiers check prior to closing. Once they receive that payment, they will allow the short sale to go through, which according to RESPA laws and the lawyers that we have spoken to on the topic is not legal.”
here’s the story:
http://www.cnbc.com/id/34877347
I have been and continue to be bearish on housing as the fundamentals are terrible, but all of you doomsdayers waiting for 15% yields on Lincon Park condos are in dream land. It’s never going to happen. This place will sell fast.
“but all of you doomsdayers waiting for 15% yields on Lincon Park condos are in dream land”
I have yet to see even the biggest bears here say anything at all like that.
Another strawman argument, MJ. If buying in LP ever comes close or is cash flow positive to renting I’ll be a buyer myself.
My husband and I were really interested in this apartment until we found out about the state of the building during a second viewing. The seller’s agent told us there is practically zero reserve and she had no idea of the state of the roof or the exterior. The building just replaced the back decks/stairs because they were falling apart and were, and this is close to a quote from the agent, nearing collapse. The place has unbelievable charm in the front of the unit, truly. The pocket shutters, the soapstone fireplace (not working, though the listing says ‘woodburning’), the inlaid floors. However, the floors need to be redone (water damage between living room and “3rd bedroom” which is really a den) and the back half of the unit is rental-quality from the 1980s. The kitchen and bath are incredibly dated and were not done well to begin with — cheap cabinets, formica countertops. The carpeting in the bedrooms is in poor shape and the closets have cheesy, cheap sliding mirror doors. There is no w/d in the unit and the laundry in the basement is old rental too. Overall, we decided that it would take too much money to rehab the place (50K?) and there would be too much risk with the state of the building to put in an offer. The unit was first offered last year, then taken off the market to repair the back porches/stairs. What else needs to be repaired? Only the person buying in will know, I guess.
I should add that the back door and threshold also need to be replaced. They have water damage from the rotting deck, it appears. The agent said that the seller was going to replace the screen door that had broken off recently, but honestly the entire door and frame needs to be replaced. This apartment needs a lot of work and given that the association has about $1500 in reserve, there’s no telling what sort of special assessments await. We were charmed (and still love the vintage details!), but we were ultimately scared off.