Reviewing Offers in 4 Days for this 1/1.5 at 600 W. Drummond in Lincoln Park
This 1-bedroom in Lincoln Park Commons at 600 W. Drummond in Lincoln Park just came on the market.
This complex was built in 2003 and has 57 units and a parking garage.
It’s one of the rare, newer buildings in this Lincoln Park/Lakeview area that has the amenities that buyers look for including an exercise room.
The listing says this is the largest 1-bedroom floor plan in the building.
The kitchen has cherry cabinets, granite counter tops, stainless steel appliances and a breakfast bar.
A hall closet has been turned into a desk space.
The living and dining space is large enough to have a dining room table.
There’s a terrace and a gas fireplace.
The unit has all the features buyers look for including central air, in-unit washer/dryer and garage parking is available for $30,000.
You can see it at the Open House on May 13 from 12 – 2 PM.
Apparently, demand is so intense that they will be reviewing offers in 4 days, on Monday at 12:00.
While bidding wars are common in some areas, like California, how many buyers in Chicago are willing to engage in a bidding war?
Alishja Ballard at @Properties has the listing. See the pictures here.
Unit #502: 1 bedroom, 1.5 baths, 921 square feet
- Sold in July 2003 for $344,000 (included the parking)
- Currently listed for $299,900 (plus $30,000 for parking)
- Assessments of $361 a month (includes cable, exercise room, exterior maintenance, scavenger and snow removal)
- Taxes of $5001
- Central Air
- Washer/Dryer in the unit
- Bedroom: 11×14
I think the “taking offers until x time and date” is a hype tactic being employed by some brokers. When a property type is in the highest demand, the actual property is listed at a fairly reasonable price, and the seller wants to be inconvenienced for as short a time as possible, it’s a legit strategy, but I wouldn’t be surprised if the seller of this unit might continue taking offers beyond the “deadline.”
It’s actually a pretty nice building. In connection with moving to Chicago in 2008, after pounding the pavement for 2 full days looking for a rental, we saw a 2 bed in this building that was the best thing we’d seen. The next morning, right before leaving town, we were literally on our way to a broker’s office to sign a lease on the unit, when we got a call back from a broker who had a rental listed in the Marlborough. The choice to spend the next 2 years on Lakeview Ave overlooking the park vs. on a particularly seedy stretch of Clark overlooking a McD’s and bus routes 22/36 turned out to be a pretty good one.
It’s nice that the unit has an extra powder room. However, I would not want to live above a Best Buy.
Jenny, it’s a Target now, which I think is worse (those probably get more foot traffic than BB).
This location is excellent if you’re a bachelor or a young couple with no kids. It definitely gets really noisy at night. I remember when the Hawks won in 2013 there was absolute pandemonium on this stretch of Clark. Dozens, if not hundreds of windows were smashed. The amount of trash on the street too was appalling, but nothing worse than Rickettsville after St Paddy’s day.
Oh, god. They found a store worse than Best Buy to move in. I wonder if the horrific scent of popcorn wafts into these units.
Our neighbors on Greenview listed at 510, and ended up accepting a cash offer for 550
I would imagine that this price is around rental parity?
Will probably go quickly at that price if they throw in the parking IMO
I actually lived in this building for 2 years in one of the massive corner 3 bed family condos with those rounded windows. One afternoon a police officer pointed a gun at me at told me to lie on the ground in the basement parking lot because he thought I was stealing bikes next to my car. A few minutes later he found the guy hiding under a car.
It was a bit of a problem while I lived there. There were at least 3 times someone broken into the basement and stole bikes or items from cars. Besides that, it was a great building and the maintenance guy who was on staff every day was really nice.