This Lincoln Park 1-Bedroom Coach House Has Stuck to Its Price for 9 Months: 2011 N. Kenmore
We’ve chattered about this 1-bedroom coach house at 2011 N. Kenmore several times since it came on the market in March 2010.
See our last chatter, in June 2011, here.
Originally listed all the way back in March 2010 (nearly 2 years ago now!) for $349,000, it was reduced to $315,000 in March 2011.
And there’s it’s stayed. There’s been no other price reductions.
If you recall, it is a duplex loft-like unit with skylights, exposed brick and exposed pinewood ceilings.
The kitchen is newer and has white cabinets, stainless steel appliances and black limestone countertops.
The listing says a new half bath was added and that the master bathroom has been completely renovated with a new rain shower.
The Groove thinks it is one of the “coolest quirkiest listings on cribchatter” and he especially likes its Battlestar Galactica vibe.
It has central air but no parking. The garage in the picture is for the building on the other side of the coach house.
In the last chatter, all of you thought that it would take a “2” in front of the list price to sell this unit.
What will be the fate of this property?
John Krueger at Koenig & Strey Real Living now has the listing. See the pictures and a virtual tour here.
2011 N. Kenmore: 1 bedroom, 1.5 baths, no parking
- Sold in June 2000 for $169,000
- Sold in July 2003 for $241,000
- Sold in May 2007 for $295,000
- Was listed in March 2010 for $349,000
- Reduced
- Has been listed for $315,000 since March 2011
- Assessments of $110 a month
- Taxes of $2970
- Central Air
- Washer/Dryer
- Bedroom: 21×18
- Living room: 24×13
- Kitchen: 13×9
Very unique but small. I think it is reasonable. Hey, people are paying 270’s – 320’s for fairly gross/generic 1/1.5’s, 2/2s in the area, why not a coach house.
It appeals to a tiny market of buyers but definitely interesting
unique space that is very intriguing and appealing – until you realize how small and cramped the space is – the only thing I can see this being “good” for is either:
1. a “man cave” for someone who lives in a place nearby
2. an artist’s studio or office for someone who lives nearby
3. a pied-a-terre for an out of towner (but not an ideal choice b/c of type of building – ie no amenities and location – no easy transportation for an out of towner)
4. a weirdo (ie dreamer/artist type not grounded in reality and not realizing the impracticality of the space until it is too late).
so, in other words, the target audience is EXTREMELY limited.
It is a cool, interesting place but I just have to laugh at that deck. “Welcome to my deck, which is mostly covered by some else’s balcony. Oh, don’t mind that smell, it is just exhaust from them parking below us.”
Even at the peak of the bubble, this place sold for less than $300k.
Plus, it practically abuts those ugly wooden balconies, the kind that collapse when idiots pile all their drunken friends on.
Owner seems greedy and delusional.
OK. This pricing strategy is really, really dumb. Obviously no one is interested in paying more than 300K for this place and since no one has done it in 9 months anyone who might even consider paying more than 300k wouldn’t because no one else has. So at a minimum it should be priced at 299K so that people who have set a 300K threshold on their searches will see it. Those people don’t even know it’s on the market.
It is pretty cute. I wonder if one of the neighbors could buy this as live-in nanny quarters. But 300K is just too expensive unless the surrounding homes are multi-million cribs.
Cute little (expensive) place, but the condo Association would worry me. What happens when the little coach house needs tuck pointing or a new roof? I can image the Association not wanting to “pitch in” and deferring that maintenance until 2112 or some other distant time. No thanks.
I think it is a cool little place. It probably needs to be below $300, but I’d definitely consider this place before a lot of the other condo garbage folks buy in this price range.
I went and saw this place. You don’t realize how tiny it is until you are there. The upstairs especially came off as cramped, barely room for a bed and a desk. Downstairs was alright, but you needed to block the entrance stairs thing with a board to get access to the door for the deck. Not kidding.
There is a board.
You place over the stairs.
To access the door to the deck.
And then you get out on the deck and half of it is covered in HVAC and someone else’s balcony.
“no easy transportation for an out of towner”
It’s a block from the Brown Line. How is that hard?
Okay, this one (previously featured on CC) in the SAME ASSOCIATION:
http://www.redfin.com/IL/Chicago/1024-W-Armitage-Ave-60614/unit-2/home/12793194
is currently offered at $389k. In 2003, it sold for over 190% of this place.
Who considers this place north of $250, at least while the front unit is available for under $389?
““no easy transportation for an out of towner”
It’s a block from the Brown Line. How is that hard?”
Most people who are looking for a pied a terre and have 300k to spend are NOT going to be taking the “brown line” (whatever that is) around. You have no idea how rich people live, do you? Yeah, I know, a hundred thumbs down!!!!
“You have no idea how rich people live, do you?”
What is “easy transportation” for rich out of towners, then? Wouldn’t that just be a car service? AFAIK, Chicago car services have no problem picking up and dropping off people three blocks west of Trotters.
haha this place is laughable as a living space, the ask price is even more hilarious, and the realtard trying to shill this place for over the 2007 price gets a boisterous guffaw!
anon: cLiO meant it has no parking, you petulant little serf. Also remember: we shouldn’t question those from the better classes…
“There is a board.
You place over the stairs.
To access the door to the deck.”
Sounds like a decent security system.
“cLiO meant it has no parking, you petulant little serf.”
Then why all the extra keystrokes? He used 19 when 7 would have made his point, and more clearly so at that.
Words have meaning, even to those of a certain class.
RE: rich people needing a pied-a-terre and this particular unit
My point was that people who have enough money to pay 300k for a pied a terre are either going to have a car or will take cabs (more convenient than a car service) – this location is NOT appealing to that type of person.
Also, remember that most rich people actually do NOT want to live VERY close to the El. We all know the element that the El brings and wealthier people (who actually realize this before buying) want to have a several block buffer. Yeah, I know, 1 million thumbs down – but this IS the truth.
“will take cabs ”
When did Armitage and Sheffield become (traditional) Brooklyn for Chicago cabbies?
Yeah, terribly, horribly difficult to hail a cab in this location. Worse that the ‘burbs, by far.
“Okay, this one (previously featured on CC) in the SAME ASSOCIATION:”
I’m pretty sure that is the balcony that usurps this coach houses balcony. Perhaps you could buy both, turn it into a two level deck and use the coach house as an extension of your living space. If the garage space goes with that condo, you’d even have attached parking.
“I’m pretty sure that is the balcony that usurps this coach houses balcony. Perhaps you could buy both, turn it into a two level deck and use the coach house as an extension of your living space. If the garage space goes with that condo, you’d even have attached parking.
……or, you could use the 700k it would cost and buy a nicer place!!!!!
A short thin confirmed hipster bachelor might buy this place. Someone who works long hours, never entertains; no car, girlfriend, or shopping habit. No room for a significant other, other than perhaps a cat.
“or, you could use the 700k it would cost and buy a nicer place!!!!!”
Agreed!!
Only way buying more than one unit in this association makes sense (at anything like current prices) is if you got *all* the units.
“A short thin confirmed hipster bachelor might buy this place. Someone who works long hours, never entertains; no car, girlfriend, or shopping habit. No room for a significant other, other than perhaps a cat.
sounds like you are describing me (minus the car and cat part)!!
“Agreed!!”
I wasn’t suggesting it seriously….but I could actually see someone being stupid enough to do it!
Immutable listing prices like this embolden my decision to keep my driver’s license weight at my 2005 number renewal after renewal after renewal. Unrealistic numbers intense appreciation <3 <3 <3
I think it would clear the market at $290K. How could the coach house split from the association, or is that not possible due to the land underneath sharing ownership and condo laws?
Relisted yesterday at 285k.