A Pre-War 3-Bedroom Steps from the Zoo for $875,000: 322 W. Belden in Lincoln Park
This 3-bedroom at 322 W. Belden in East Lincoln Park came on the market in September 2022.
Built in 1914, this pre-war building has 12 units and a central courtyard with 2 seating areas and a grill.
There is no parking or doorstaff but there is private storage in the lower level and a bike room. The building is professionally managed.
This unit has many of its original features including millwork, plaster moldings, built-in cabinetry, window seats and a plaster wood burning fireplace in the living room.
The dining room has cove ceilings, intricate plaster details, a window seat and French doors.
There’s a sunroom overlooking Belden with southern exposure.
The kitchen has blue custom cabinetry, a white subway tile backsplash, high end appliances, quartzite counter tops, and an island with seating for two.
Another unique feature is the butler’s pantry with a sink and beverage refrigerator.
A common feature in pre-war apartments were the formal entry foyer and gallery. This unit has both, including an 18×6 gallery.
The three bedrooms share 2 full porcelain and stone baths.
The primary bedroom also has a walk-in-closet.
It has features buyers look for including in-unit washer/dryer and space pac cooling. There’s no parking with the building, however.
This building is just steps away from Lincoln Park, the Conservatory, and the Zoo along with the shops and restaurants of East Lincoln Park.
Listed in September 2022 at $875,000, it remains listed at $875,000.
Is this a vintage lover’s dream home?
Jeffrey Lowe and Harry Pfaff at Compass have the listing. See the pictures here (sorry, no floor plan).
Unit #2W: 3 bedrooms, 2 baths, 2200 square feet
- Sold in February 1989 for $275,000
- Sold in July 2011 for $517,000
- Sold in June 2016 for $695,000
- Listed in September 2022 for $875,000
- Currently still listed at $875,000
- Assessments of $1277 a month (includes heat, snow removal)
- Taxes of $12,624
- Space pac cooling
- Washer/dryer in-unit
- No parking
- Wood burning fireplace
- Bedroom #1: 16×11
- Bedroom #2: 15×12
- Bedroom #3: 15×7
- Living room: 23×15
- Dining room: 18×14
- Kitchen: 14×13
- Sun room: 9×8
- Gallery: 18×6
“Is this a vintage lover’s dream home?”
No. However current owners did a nice job with the updates and the realator did a good job with the pics
The 3rd bedroom @ 7’w isnt ideal.
Curious as to the W/D hook up location, I dont see a great location for it
HOA fee is painful and no parking are going to make this a challenge
Comp six months ago: https://www.redfin.com/IL/Chicago/322-W-Belden-Ave-60614/unit-1W/home/13349097 How much as the market declined since June?
If 2W has the same floor plan as 1W, the tiny bedroom (used as an office in 2W) has an en-suite and other has the hallway entrance. Do you then make your guests go through the office (or child’s bedroom) for the toilet or do they use the “primary” bath?
I am tired of blue kitchen cabinets and KitchenAid appliances are ugly. No outdoor space, no parking. Radiators. High assessments that get you nothing. Great location. Not for me. Maybe for someone with young kids that really values being across from the Zoo and doesn’t mind sharing their bathroom?
“Maybe for someone with young kids that really values being across from the Zoo and doesn’t mind sharing their bathroom?”
Would work for a single-child family. However; while this place is lovely, if you are a single-child family (that has to make actual money-based compromises/trade-offs) looking for a place to live in the hood, I would think you would go for this place around the corner… for 345 Gs less.
https://www.realtor.com/realestateandhomes-detail/2341-N-Commonwealth-Ave-Apt-2B_Chicago_IL_60614_M78907-92348
““Is this a vintage lover’s dream home?”
No.”
Maybe not, but it is priced as such. This place is priced as if it was museum exhibit quality. Not sure if it actually is. Regarding HOA,if I was going to buy this place at this price, HOA would actually be kind of reassuring because maintenance is probably a ship-show.
3W was a prior CC feature:
http://cribchatter.com/?p=16358
Sold in Apr-13 for $615k, and Jun-21 for $710k.
From that post: “Benjamon9 even predicted it would go under the 2003 price which was $640,000.”
And was right.
” This place is priced as if it was museum exhibit quality.”
It’s priced to get every penny they have into it out of it, including the transaction costs (note that spacepac was added, too).
Possibly with a little extra to allow a negotiated reduction.
I think it’s too high even if the only thing you would change when moving in is the locks.
Just another dreamer wasting time with this pricing
“I think it’s too high even if the only thing you would change when moving in is the locks.”
I mean, $875K for a 2BR + office with no parking… your target market is not someone who is making rational financial decisions… so who knows
interesting along the same lines as the Shakespeare Building co-op around the corner… beautiful, livable vintage properties that are beyond the reach of most upper middle class, but at the same time, why would a truly rich person live there unless they just really, really loved the aesthetic? eccentric Royal Tenenbaum vibes
Lovely unit and building, great location. Problem is you’re paying $2,500 a month beyond the mortgage and building has no parking, no doorman, no amenities. It has to come down. Maybe someone will get a bargain.
“beyond the reach of most upper middle class”
Isn’t the likely buyer rolling over equity from another property? Nothing about it says ‘starter condo’ other than the bedroom count/sizes.
“Problem is you’re paying $2,500 a month beyond the mortgage and building has no parking, no doorman, no amenities. It has to come down.”
Does it? Why?
You are ALWAYS going to be paying $2500 a month beyond the mortgage here. Never stopped the other sales.
“beautiful, livable vintage properties that are beyond the reach of most upper middle class,”
It is?
With 20% down and a 7% mortgage rate it’s $7343 a month, including HOA, insurance and property taxes.
A couple of lawyers bringing in $350,000 combined can’t afford this?
Two DINKs working in marketing at Alphabet making $180k each can’t afford this?
Both of them would be upper middle class.
The “rich” buy $2 million units with $5,000 a month HOAs. Or the $13 million home that just sold in Lake Forest. The rich are buying an $875,000 unit for one of their kids.
“Just another dreamer wasting time with this pricing”
I guess we will see. Always harder to sell vintage which has higher HOAs and less amenities, but they always DO sell.
“most upper middle class”
“It is? … $350,000 combined”
So, I guess the median point of the UMC, not rich, cohort is above $350k?
Doesn’t that imply that UMC starts somewhere above $250k HHI?
“Doesn’t that imply that UMC starts somewhere above $250k HHI?”
What happened to the Cop + Teacher being UMC?
“A couple of lawyers bringing in $350,000 combined can’t afford this?
Two DINKs working in marketing at Alphabet making $180k each can’t afford this?
Both of them would be upper middle class.”
They totally could afford this.
“Isn’t the likely buyer rolling over equity from another property? Nothing about it says ‘starter condo’ other than the bedroom count/sizes.”
Totally, but rolling your whole wad into this particular property suggests a vintage fanatic(s).
“The rich are buying an $875,000 unit for one of their kids.”
Also a possibility.
Genuinely curious what the buyer pool for this building is!
Also, the fact that someone paid $640K for this place in 2003 is bananas: http://cribchatter.com/?p=16358
““beautiful, livable vintage properties that are beyond the reach of most upper middle class,”
It is?”
Perhaps one definition of UMC beyond purely income is that they need to make compromises when purchasing real estate that rich folx don’t… which is why the $800K-1.2 million range is interesting. Like when is it a good idea to stretch to afford that million dollar property… especially in the Chicago market, that gamble can go very South.
“So, I guess the median point of the UMC, not rich, cohort is above $350k?”
I said nothing of the kind. Just gave some examples of people being UMC who could afford to buy this place. Don’t know where it starts. Don’t know where it ends. Depends on your city and standard of living. But it doesn’t take a “rich” person to buy this. However, to many, the upper middle class may seem “rich.” They can buy million dollar homes. Doesn’t that make them rich?
“interesting along the same lines as the Shakespeare Building co-op around the corner… beautiful, livable vintage properties that are beyond the reach of most upper middle class, but at the same time, why would a truly rich person live there unless they just really, really loved the aesthetic? eccentric Royal Tenenbaum vibes”
Was actually just strolling past the Shakespeare last night, and recalled the battle waged against Parker’s proposed stadium lighting for its new field. Our unit faced the field from the south on Webster, and the battle effort was organized by a guy living in the Shakespeare – an older guy who was a retired attorney who had practiced in DC and was very involved in the big tabacco litigation, who married a younger college professor and, with his other kids out of college, was a stay-at-home dad for their kid. Very smart and a little eccentric, he approached the stadium light controversy like it was a multi-billion dollar case.
“beyond the reach of most upper middle class”
=
more than 50% of UMC HHs can’t “afford” a $7k/month housing nut–which is $280k annual income.
ergo, the assertion is that the median “UMC” is HHI under $280k, which may or may not be accurate, but is what was implied.
Our household income is slightly above $250K and I don’t think this unit would be affordable.
As a Parker grad who went all 14 years there (pre-K -12th) I have to say I’m not particularly enthused about some of the school’s recent ideas regarding its campus and the neighborhood. Stadium lighting? Trying to buy a building from its condo owners for what… to tear it down and build a parking lot? Maybe I’m wrong.
“Was actually just strolling past the Shakespeare last night, and recalled the battle waged against Parker’s proposed stadium lighting for its new field. Our unit faced the field from the south on Webster, and the battle effort was organized by a guy living in the Shakespeare – an older guy who was a retired attorney who had practiced in DC and was very involved in the big tabacco litigation, who married a younger college professor and, with his other kids out of college, was a stay-at-home dad for their kid. Very smart and a little eccentric, he approached the stadium light controversy like it was a multi-billion dollar case”
You should pitch this to Wes Anderson
“As a Parker grad who went all 14 years there (pre-K -12th) I have to say I’m not particularly enthused about some of the school’s recent ideas regarding its campus and the neighborhood. Stadium lighting? Trying to buy a building from its condo owners for what… to tear it down and build a parking lot? Maybe I’m wrong.”
@Dan #2 supposedly the plan is to build an annex… I guess they are expanding the student pop? Neighborhood seems divided on whether or not Parker is being a bully, there were definitely some crank-authored flyers being distributed a couple of years ago.
https://blockclubchicago.org/2020/09/18/francis-parker-school-says-it-wont-buy-more-neighborhood-property-for-now/
Honestly my biggest concern is the school pickup and dropoff, total cluster on Clark every school day
Never got picked up on Clark Street side, or maybe 3-4 times in 14 years. Until second grade our car pool dropped us off on LPW. After that, starting in 3rd grade, I took the CTA bus every day. Don’t FWP parents let their kids take CTA any longer? (I assume your kids must be too young to, but I hope they eventually do and free you from the stress of driving there).
“Don’t FWP parents let their kids take CTA any longer? (I assume your kids must be too young to, but I hope they eventually do and free you from the stress of driving there).
I imagine many do, though when we lived on Webster from late 2010-13, our block was bumper-to-bumper twice a day. We could leave the alley the other way so it didn’t really bother us, but we may have had a tiny chip on our shoulders towards the school because we had made it through the FWP admissions interview stage for our oldest, but were rejected (she had to schlep all the way down to Latin for half a school year before we moved away).