This 3-Bedroom in a Classic Lincoln Park Greystone Reduces: 1130 W. Armitage
We’ve chattered about the first floor unit in this 3-unit greystone at 1130 W. Armitage before but now a second floor unit has come on the market.
It has high ceilings, crown molding and access to both the front and back porches.
The kitchen has cherry cabinets, granite counter tops and stainless steel appliances.
The master bedroom has a white marble bath.
Because it’s a vintage 3-flat, the bedroom sizes are smaller. The listing says to “note” the second and third bedroom sizes which are 10×9.
It has all the other features buyers look for including central air, washer/dryer in the unit and garage parking.
The unit is also just a few blocks from the Armitage El stop and surrounded by all the shops and restaurants on Armitage.
It came on the market in July and has reduced $4,000 to $495,000.
This is $10,000 under the 2005 purchase price.
Is this a deal?
Randy McGee at Koenig & Strey Real Living has the listing. See the pictures here.
Unit #2: 3 bedrooms, 2 baths, no square footage listed
- Sold in July 1995 for $274,000
- Sold in December 1999 for $370,000
- Sold in June 2001 for $410,000
- Sold in June 2005 for $505,000
- Originally listed in July 2013 for $499,000
- Reduced
- Currently listed at $495,000
- Assessments of $162 a month
- Taxes of $8565
- Central Air
- Washer/Dryer in the unit
- Garage parking included
- Bedroom #1: 16×11
- Bedroom #2: 10×9
- Bedroom #3: 10×9
The second and third bedrooms aren’t pretty and are tiny, and the place fronts a busy commercial street, but given all its other attributes (location, garage, w/d, outdoor space, updated) and the dearth of listings in this range in LP (and decent places that have listed in LP seem to have sold in weeks this summer), I’m surprised they’re having trouble selling.
oh my god this place should be 700k for being so close to Shoes!!!
Photos make it look more like a 1 br with two dens. Why block off the french door with the bed and where do those doors lead? The placement of those beds really kills the photos of this place.
There are some nice features here, with some vintage character and a decent back porch, as well as parking and W/D.
But nothing here stands out as being worth $500,000. Not the tiny bedrooms, the location on a busy street, or the fact that it’s on the first floor. I’ve been in many graystone rental units that reminded me of this, and this looks like a rental to me. I don’t expect the asking price to be met – not even close.
I think $450K would be top dollar.
JP – I think you’re too optimistic. But perhaps I’m underestimating people’s willingness to pay big bucks for tiny 3-bedrooms in Lincoln Park.
Dan #2, this is unit #2 on floor #2. We had talked about the first floor, but this isn’t it.
OK – well I still don’t think it’s worth $500,000, but being on the second floor definitely helps.
Dan #2, you’re right… $450K is a lot of dough for this place, but I think there are people out there willing to overpay. I personally wouldn’t pay $400K for this place.