This 3-Bedroom Bucktown Triplex Is 22% Off the 2005 Price: 2300 W. Armitage
This 3-bedroom triplex at 2300 W. Armitage in Bucktown just came on the market.
It has many unique features including an inlaid marble foyer and ebony floors.
It has Phillipe Stark and Bizzaza baths.
The kitchen has Fisher Paykel, Bosch and Viking appliances.
Two of the bedrooms are on the second floor with the third on the third floor along with a 12×29 terrace.
The unit has the features buyers look for including in-unit washer/dryer, central air and garage parking.
It is listed for about 22% under the 2005 price at $450,000.
This is also $90,000 under the 2001 purchase price.
Is this a deal?
Kenneth Marier at Prudential Rubloff has the listing. See the pictures here.
Unit #2: 3 bedrooms, 3.5 baths, triplex, 2300 square feet, garage parking
- Sold in September 2001 for $540,000
- Sold in November 2004 (no price given)
- Sold in September 2005 for $575,000
- Lis pendens foreclosure filed in December 2011
- Currently listed for $450,000
- Assessments of $245 a month
- Taxes of $8097
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 15×13 (second floor)
- Bedroom #2: 13×10 (second floor)
- Bedroom #3: 14×21 (third floor)
- Rooftop Terrace: 12×29 (third floor)
What does this mean?
Agent Remarks: This is not a short sale, but is pre-foreclosure.
@david – owner isn’t paying the mortgage, so it’s in the foreclosure process (starting with the lis pendens), Mortgage was originally for $402k, so $450k would cover the mortgage plus any fees/penalties, so it’s not a short sale, so in theory one wanting to buy wouldn’t have to wait for bank approval of the purchase price so long as it’s more than the payoff amount.
Assessments are too high!
Off Topic:
Something came up yesterday so I only had time to do two posts today. So there won’t be a late afternoon property. Sorry!
What’s with all the crazy sinks in the bathrooms?
I do have to say that i really like this place, and its well laid out for 700sqf per floor. I am a bit surprised its only selling for 450k. am i missing something?
“am i missing something?”
C’mon, that’s too easy. Or are you just trying to mess with jon?
I like this place too. It has lots of unique features, not cookie cutter developer style. I once looked at another loft in this building that was finsihed out much like this. The guy owned several in the building and was a constructin worker. He did all the work himself so his only cost was materials. I wonder if this too is his unit. Perhaps its in foreclosure b/c construction work has slowed? I really don’t think its so overpriced that the owner should do a walk-away. Wonder what the story is?
I like Bucktown as much as the next guy, but I would certainly think twice before dropping 400k on a place right where there was a shooting in the past couple years:
http://archive.chicagobreakingnews.com/mt-search.cgi?search=Northwest%20Side&__mode=tag&IncludeBlogs=2&limit=20&offset=80
Then again, people seem to not mind paying up for townhouses/condos right by the baseball bat beating on Damen…
I like this place for the most part, it’s location hurts in the sense that it’s on a busy part of Armitage (although close to Irazu for Vanilla Oatmeal shakes so I’m not sure if they cancel each other out). Also, that’s a lot of stairs for a family, so they may have bit more limited of a buyer pool for a 3/3.5 than a duplx or SFH. I think this is well priced for what it is….
R (May 4, 2012, 9:28 am)
I like Bucktown as much as the next guy, but I would certainly think twice before dropping 400k on a place right where there was a shooting in the past couple years:
Please tel me you’re joking and I just don’t get sarcasm off a blog post….what about those group muggings in the GC last year…I’d think twice before spending $1mm to live in a place where violent crime occurs.
“Something came up yesterday so I only had time to do two posts today. So there won’t be a late afternoon property. Sorry!”
You stay out too late celebrating Polish Constitution Day too?
I agree with you Mike. We live in the city. There is not a single neighborhood that has not had violent crime. This area is not “known” for it so I don’t see an issue. Random acts of violence happen everywhere in the city. Its only when violence pervades a community culture that it should effect real estate.
“Or are you just trying to mess with jon?”
no really, not pulling anyone’s chain. i think this place is pretty cool and cheap, but i may be missing something that you guys see right away
I should send this place to one of those stubborn sellers I know that thinks their 1.5 bathrooms that needs updating, no central air home is worth half a million dollars.
matthewlesko: “Assessments are too high!”
Are you wearing a bright green suit with punctuation marks all over it as you excitedly type your exclamations?
Off to spend my free government money!
This place is great. I especially love that they put in a double drawer dishwasher. With one of those you never have to unload a dishwasher again! I would still prefer two full sized dishwashers, but a double drawer one would work if there wasn’t room for two.
Very bad neighborhood – FAR TOO CLOSE to Margie’s Candies at Armitage & Western. The downfall of many a diet!! lol
“FAR TOO CLOSE to Margie’s Candies at Armitage & Western”
its not the same anymore
“Also, that’s a lot of stairs for a family, so they may have bit more limited of a buyer pool for a 3/3.5 than a duplx or SFH.”
It’s kind of a poser 3 bed–the master is on the 2d level, and the 3d “bedroom” is open to the stairs and the terrace. It’s really a 2 bedroom with two living areas (one of which could be an occasional guest room/office), above and below the bedroom level.
That said, other than the outmoded designer bathrooms, I really like the place. And thte things I don’t like about the bathrooms would be pretty easy (if not nec cheap) fixes.
I like Bucktown as much as the next guy, but I would certainly think twice before dropping 400k on a place right where there was a shooting in the past couple years:
I live in East Lincoln Park between Fullerton & Diversey, directly overlooking the park, and there has been a shooting on my street and a number of the beatings a couple years ago were within a block of my apartment. Violence can happen anyplace in a big city…
“i think this place is pretty cool and cheap”
I think the ask is about right. Don’t think it’s cheap. I agree with other comment that this isn’t really going to appeal to families, as the stairs are not ideal and you can get a smallish (not as nicely finished) SFH for same kind of price or a bit more.
The only killing happening out here in Cary is the killing I am making in the RE market! LOL!!!
My brother bought this unit when the building was first converted. Original price around $399, he put about $20K of his own into it, sold for $540 during the boom. New owners ripped out the bizazza tile and some other cool stuff. Not cookie cutter unit by any means, but you better love stairs. You will walk up a flight just to get to the front door, then inside more stairs. Great roof deck with a decent (if not distant) view of downtown. Kitchen is great if you like sleek/modern/minimalist (the pics don’t do it full justice). Not an easy place to photograph but the agent more or less did a decent job considering all the weird angles and round walls.
listing needs a floor plan, price is not obnoxious (based on pics)….obviously one would have to walk this in person. Assessments are low.