This 3-Bedroom West Town Townhouse Returns Completely Rehabbed: 642 N. Armour
We chattered about this Fannie Mae-owned 3-bedroom townhouse at 642 N. Armour in West Town several times last year.
See our November 2012 chatter here.
Back then, it was listed for $309,000 but most of you thought, given its condition and the neighborhood, that it would sell in the low $200,000s.
Most of you thought it was too much work to sell for anything more as it needed to be gutted.
It finally sold in February 2013 for $250,000.
And sure enough, it has been completely renovated and is back on the market just 4 months later.
The listing says it has new plumbing, decks and HVAC.
The kitchen is new and has granite counter tops and a Bosch appliance package.
All the baths are new.
You can see what it looked like before in this YouTube video (warning- music!).
Two bedrooms are on the second floor and the third is on the top floor.
There are several decks and a lower level den.
The townhouse has returned to the market at $399,950.
Will it sell for the premium now that it’s “new”?
Nick Patterson at Kale Realty has the listing. See the pictures here.
642 W. Armour: 3 bedrooms, 2.5 baths, no square footage listed, one attached garage
- Sold in May 1996 for $198,000
- Sold in September 2003 for $365,000
- Lis pendens foreclosure filed in June 2011
- Fannie Mae Homepath property
- Was listed in August 2012 for $374,900
- Reduced several times
- Was listed in November 2012 at $309,900
- Sold in February 2013 for $250,000
- Currently listed at $399,950
- Taxes of $4488
- Central Air
- Bedroom #1: 17×13 (second floor)
- Bedroom #2: 14×12 (second floor)
- Bedroom #3: 14×10 (third floor)
- Den: 14×13 (lower level)
wow. that skyline view is amazing.
My first reaction is no way is this flipper going to get his price. Then again that’s what I thought about this one…
http://www.redfin.com/IL/Chicago/2329-W-Medill-Ave-60647/unit-1/home/18954066
This place is a lot nicer than the West Town loft from yesterday.
Looks nice from the photos. Don’t know about anyone else here, but I prefer empty rooms to staged or those stuffed with personal effects. It’s easier to see defects on walls or floors, and get a sense of space.
I agree with Violet. I prefer empty rooms. Although, that goes against common wisdom.
I like how they totally finished out the kitchen and baths, picked out all the fixtures etc. but left the two bathroom mirrors to be “customized” by the buyer!
The sad part is that it probably does have a nice skyline view, the photographer is just dumb
Why would it have new plumbing? That seems like an overstatement. New Faucets maybe.
Regardless it’s never going to be more than a pile of cinder blocks. If their was a cheaper way to build crappy town homes they would have done it.
Ironically, my fiancee sent me a link to this place this morning. This is the general area we want to eventually live and raise kids in. It is the closest to downtown you can get a 3/2 townhome for under a half mil. The general area is great with proximity to the Loop, River North, Restaurant Row even if any individual block may not be great. I find it shocking this area hasn’t gentrified and pushed the gangs out.
Nice enough rehab but spend some time exploring the area and Satan Disciples public art. This home is too close to the mess at Ashland and Huron, W Superior, and W Erie that has reappeared in the last 6 months. Enjoy.
@Fred
I already see some development happening around that area – check out 1734 w grand
“This is the general area we want to eventually live and raise kids in.”
“I find it shocking this area hasn’t gentrified and pushed the gangs out.”
So around gangs and terrible schools are where you’d like to raise kids? Lol
I agree that this area should gentrify. Not sure what effect the Ashland rapid transit program will have. I’m sure this place is too close to the pink line for it to factor commuting much.
Fred, University Village has townhomes in your price range. I mention it as another option. As long as you don’t go south of 16th or west of Racine, it’s safe.
” I find it shocking this area hasn’t gentrified and pushed the gangs out.”
I hear they are around but I never see them. I think you have to be up and about between the hours of 12am thru 5am. Kinda like rats. They do like to scrawl tags all over the place though. Active neighbors and neighborhood groups are pretty good about cleanup.
That area at Chicago & Ashland is a busy bus intersection. Lots of kids around mornings and afternoons coming and going to school (school’s?). Glad for the library there although I personally have little use for it.
I’m surprised gang members don’t just urinate on things to mark their territory. They are like animals in all other ways.
I’d stay between ashland-damen-chicago-division.
We live in the East Village several blocks west of Ashland near Talcott. Our UKV Neighborhood Watch group is large and proactive. We’re done with the gangs and are actively making efforts to better our community. It just takes time.
“I’d stay between ashland-damen-chicago-division.”
Maybe I’m spoiled, but if I was off Damen & Chicago, I would dread having to walk to or take the bus to, the blue line. I think the area around Ashland & Grand would be optimal because of its proximity to both the pink line and the blue line (the blue line a couple blocks further). If I was buying a place to hold onto for at least 10 years, I would target this area as I feel it has the best potential ROI.
“Maybe I’m spoiled, but if I was off Damen & Chicago, I would dread having to walk to or take the bus to, the blue line. I think the area around Ashland & Grand would be optimal because of its proximity to both the pink line and the blue line (the blue line a couple blocks further). If I was buying a place to hold onto for at least 10 years, I would target this area as I feel it has the best potential ROI.”
Our thoughts exactly. I would like to be walking distance (3/4mi or less/15min walk) from the #56 Milwaukee bus for commuting to the Loop. For whatever reason, I prefer buses for commuting.
Thanks for the post.
The property sold in less than 2 days. We had over 6 offers on the table and will close in mid July for well over the asking price.
The market is really coming back.
“The property sold in less than 2 days. We had over 6 offers on the table and will close in mid July for well over the asking price.
The market is really coming back.”
Thanks for the update Nick. I’ll do a post after it closes.