Tiny Townhouse in Tony Lincoln Park: 2128 N. Lincoln
Think a townhouse in Lincoln Park is out of your price range? Think again.
I’ve chattered about some reasonably priced townhouses in Lincoln Park and Lakeview before. But this the cheapest I’ve seen yet. And it’s updated.
It’s a two bedroom at 2128 N. Lincoln.
I can’t find the square footage, which means it’s pretty small. Here are the room sizes:
- Livingroom: 14 x 10
- Diningroom: 9 x 9
- Kitchen: 14 x 7
- Bedroom #1: 14 x 10
- Bedroom #2: 14 x 9
It has it’s own garage, it’s a duplex and it has a nice private patio.
2128 N. Lincoln: 2 bedrooms, 1 bath
- Sold in October 2004 for $340,000
- Currently listed for $367,000
- Assessments of $140 a month
- According to the listing, the owner is a licensed realtor
- DreamTown Realty has the listing
can you even open the stove?
Rats. If it had two baths, I’d have been very interested.
With a garage huh? Not bad.
Anyone guessing on value of this place? I rough estimate is 300K by end of summer.
It’s cute and it’s cheaper than some condos in LP (with lower assessments.) That’s in its favor. Also, great location.
Yeah, I’d bet this goes under contract pretty quickly — it seems relatively fairly priced to me, considering I’ve been looking at condos priced not much less than this in Humboldt Park. While those are definitely overpriced, I don’t think the location of this one can be overstated.
Agreed–though there is certainly room for negotiation. I know that a few others more bearish than we will say the price is way too high, but I still think Lincoln Park will hold its own fairly well. There just wasn’t the overbuilding there that you got downtown.
When I said the other day that the cheapest townhouse in LP was going for 379K, I was thinking of places with two baths. I’m curious to see how long this place sits on the market. I’m kind of shocked that anyone would buy in Humbolt Park or any other transitional neighborhood when they could have something in LP for about the same price. Of course, I realize the trade offs are lower ceilings and more cramped floorplans, and not everyone wants to live in LP no matter how cheap it gets, but I’d gladly take some outdated architecture and a slightly impractical floorplan in exchange for an address in one of the nicest parts of Chicago.
Prices in Lincoln Park have continued to rise. There has been no price decline and there will be no price decline. Sure those that overpaid for new construction on Diversey and Ashland (other places as well) will lose, but 95% of those that purchased for FMV will be just fine.
The key is to stay away from new construction. People pay up for new construction and are not able to pass off the premium when they sell. You have to stay in new construction for a good 5 -7 years to break even when you sell. This of course applies to the vast majority of new construction. There are exceptions.