Top Floor 2-Bedroom with Private Deck for $400,000 in Andersonville: 1637 W. Olive
This top floor 2-bedroom at 1637 W. Olive in Andersonville/Edgewater came on the market in September 2023. Sorry, I don’t have a picture of this building but I wanted to crib on it anyway. Fountain above is in Lincoln Park.
Built in 1924, 1637 W. Olive was converted into condos in 2004. It is a walk-up with 3 units and outdoor assigned parking. It has a communal garden and there’s separate storage.
This unit has 3 exposures with treetop views and some of its vintage features including trim and solid doors.
The listing says the hardwood floors are “newer” as of 2019.
The listing also says the entire unit has been repainted.
It has a separate dining room which is open to the kitchen which has white cabinets, black granite counter tops, and stainless steel appliances including a new KitchenAid range with hood. There’s also an “herb garden” deck off the kitchen with room for a grill.
There’s a sun room off the living room which leads to a private south facing deck.
The listing has flipped the floor plan on the bedrooms with the second bedroom now being called the “primary” which is connected to a renovated bath (2022) with a refinished vintage tub with shower, white subway tiles and a heated towel rack.
French doors lead to bedroom 2 (which is the primary in the floor plan).
This unit has the features buyers look for including central air, washer/dryer in the unit and an outdoor parking space.
The listing says it’s available furnished.
It’s one block from popular Andersonville Clark Street shops and restaurants and less than 1/2 mile from the Peterson Ridge Metra Station which is expected to open this fall.
Listed at $400,000, that’s $90,000 above the 2021 purchase price.
Will this seller get full price?
Alex Till at Baird & Warner has the listing. See the pictures and floor plan here.
You can also see it at the Open House this Saturday, September 9, 2023, from 11 AM to 2 PM.
Unit #3: 2 bedrooms, 1.5 baths, 1225 square feet
- Sold in August 2004 for $255,000
- Sold in August 2014 for $240,000
- Sold in September 2016 for $287,500
- Sold in April 2021 for $310,000
- Currently listed for $400,000
- Assessments of $250 a month (includes exterior maintenance)
- Taxes of $5831
- Central Air
- Washer/dryer in the unit
- Outdoor parking space
- Bedroom #1: 16×12
- Bedroom #2: 13×10
- Sunroom: 8×8
- Living room: 14×10
- Kitchen: 13×8
- Dining room: 14×11
- Deck: 10×9
If I was considering a move this far north, would just take the plunge and move to Evanston in order to GTFO from under the instability of Chicago leadership and the rampant crime.
Lovely unit and decorating. Andersonville is a great neighborhood. I’d argue one of the best in the city. It is a little far north, but I’d argue the amenities / walkability are better than some of the more popular neighborhoods.
Olive is a good street. 1600 block is west of Ashland, but it is close enough to main strip. I preferred west of Ashland when I lived there as the streets were less congested, quiet, and parking was easier. It is a bit of a hike to the El, but not unreasonable.
Cute little place and I like Andersonville
the 21 buyers monthly nut is about $1k less a month.
Renting this out (current owner) would actually cashflow
I like it and the current owners did a really nice job making it their own. It’s a cute area. It will be interesting to see if they get their ask or anything close to it.
@KK LOL. Evanston has some sketchy areas too. If I were going to go this far north I would ensure that I could commute via metra.
Mixed feelings. Building and unit are a bit bland, and not my favorite part of Andersonville (I’d prefer to be east of Clark and a bit south of here).
Cute place overall, though, and I love the outdoor space. I do wish it had some vintage features. Hard to find vintage with in-unit W/D, parking and all the other features this one has.
I agree with those who say this location is far from the red line, and it’s also not near the charming part of Clark. In fact, if you walk straight east from here, you hit a very un-charming part of that street, where it’s extremely wide and un-pedestrian friendly. I’d hate to have to cross that on the way to the train every morning and evening.
“I agree with those who say this location is far from the red line, and it’s also not near the charming part of Clark.”
If you work in the Loop, you will walk up to the Metra station, not the Red Line. If you don’t work in the Loop, and you need to get to Fulton Market or River North, then that’s a different story.
“the 21 buyers monthly nut is about $1k less a month.”
Next buyer doesn’t care about the former buyer’s “monthly nut.” Former buyer also put in a new bathroom that the next buyer doesn’t have to do.
Only consideration is if this is equal to renting in the neighborhood. What’s a 2/1.5 apartment with parking, C/A and W/D rent for?
“Lovely unit and decorating.”
Interior design is top notch. Love the wall mural in the sunroom. Good job sellers. Great pictures for the listing too.
Kudos to the photos and the floor plan being shown.
I wonder if there is any additional storage?
One thing to keep in mind is that you get one difficult unit owner in terms of building upkeep and you are completely screwed ( 3 owner self managed HOA )
“Next buyer doesn’t care about the former buyer’s “monthly nut.”
I would and they should. Its pretty difficult to justify spending 50% more/mo than the current owner when they really havent made any improvements.
Former buyer also put in a new bathroom that the next buyer doesn’t have to do.”
WTF does that have to do with anything? The seller didnt add it, its been there since at least ’16. Therefore its been reflected in the sale prices
Do you just make things up for the sake of making things up or is there a longer game going on here?
“Only consideration is if this is equal to renting in the neighborhood. What’s a 2/1.5 apartment with parking, C/A and W/D rent for?”
$2,800 +/-
“In fact, if you walk straight east from here, you hit a very un-charming part of that street”
In actual fact, you don’t.
M. Henry is north of Olive. The Coffee Studio is on a perfectly “charming” part of Clark–yes, it would be nicer if the 7-11 had become somehting ‘better’ than a chiropractor’s office, but what are you going to do?
“I’d hate to have to cross that on the way to the train every morning and evening.”
You would only need to worry about it half as much for a couple more years–Bryn Mawr station is inbound only due to construction.
“you will walk up to the Metra station”
When it eventually opens, sure. But no one has yet been able to do that.
“you need to get to Fulton Market … then that’s a different story”
How is Ogilvie inconvenient to Fulton Market offices? Hop on the Green Line if you’re at/near Google.
““you will walk up to the Metra station”
When it eventually opens, sure. But no one has yet been able to do that.”
I wonder if Sabrina actually lives in Chicago?!?
Seems likely, even with the #1 unit being a duplex:
https://www.redfin.com/IL/Chicago/1637-W-Olive-Ave-60660/unit-1/home/12652548
It mentions additional storage–would be strange to have not preserved some for all 3 units.
#2 also just sold in Feb:
https://www.redfin.com/IL/Chicago/1637-W-Olive-Ave-60660/unit-2/home/12660024
“you will walk up to the Metra station”
“When it eventually opens, sure. But no one has yet been able to do that.”
Gosh, by the time you close on this it may be open. Hooray!
The listing says “forthcoming” station and it’s slated to open this fall.
“I would and they should. Its pretty difficult to justify spending 50% more/mo than the current owner when they really havent made any improvements.”
Did you have to justify it when you paid less than the last buyer on a monthly basis because rates dropped? Hell no. And no one is even thinking of the current seller’s monthly payment except YOU, JohnnyU.
Does it matter if the previous owner paid all cash and has NO mortgage payment? Do you stop and go, “gee, I guess I won’t buy this house because, damn it, this seller never had to pay a mortgage payment but I WILL.” Whine, whine.
Lol.
No! So dumb. Today’s buyers go to the bank, just like they have done throughout all of time, get pre-approved for a mortgage with a certain monthly payment, and then head out to look at properties in that price range. That is IT.
“Only consideration is if this is equal to renting in the neighborhood. What’s a 2/1.5 apartment with parking, C/A and W/D rent for?”
“$2,800 +/-”
Nearest comp would be Anderson Point, the old Edgewater Hospital conversion. It’s just a block and a half away on Ashland. I would think someone renting there may also be a buyer for this property.
A 1040 Sq Foot 2/2 with a terrace and w/d is listed at $3150 to $3350. We don’t have square footage on this unit but I feel that with the dining room and sunroom it’s bigger than 1040 square feet.
Also, the Anderson Point website doesn’t list it, but I’m sure parking is extra and I’m sure there is an “amenities” fee which includes the gym, wifi, grills etc.
If you purchase, you have to come up with the down payment, obviously. But it seems like it’s not that much of a price difference compared to renting on a monthly basis and you get more space.
Here’s the Anderson Point website. Cool conversion.
https://andersonpointchicago.com/
“I wonder if there is any additional storage?”
Listing says there is.
“I’m sure there is an “amenities” fee which includes the gym, wifi, grills etc.”
All of which are included with the HOA for this unit, right?
“All of which are included with the HOA for this unit, right?”
No wifi is included in that HOA but it is in most luxury buildings. And you buy your own grill with this building. The only thing it doesn’t have is a gym.
It’s still cheaper to live here than the luxury rental as long as you are going to be living there long enough so that you can pay off all the buying expenses. I still recommend the excellent NYT rental calculator to see.
“but it is in most luxury buildings”
Why are you bringing up luxury buildings? We’re talking about THIS building. People shoppping in luxury buildings are not cross shopping this.
It’s contingent, btw.
Does lack of a grill, make a unit non-move in ready?
“ Why are you bringing up luxury buildings? We’re talking about THIS building. People shoppping in luxury buildings are not cross shopping this.”
Just Sabrina things
“Why are you bringing up luxury buildings? We’re talking about THIS building. People shoppping in luxury buildings are not cross shopping this.”
Yes anon(tfo). Yes they are.
The question put in this thread was could it be that it was cheaper for them to rent than to buy? But it was not.
Someone looking to buy this cute unit with updated finishes would rent a cute apartment with updated finishes. Thankfully, there’s a new luxury building JUST DOWN THE STREET. Hooray! I linked to it and discussed the prices for a 2/2 with a balcony in that building. They were all significantly smaller than this 2/1 which has the dining room but only 1 bathroom. And I commented that in that luxury high rise, including paying the $3500 a month in rent, you’d also have an amenities fee (for the wifi, gym, outdoor space and who knows what else) as well as would have to pay extra for parking.
Yes, this unit has an HOA and taxes, both of which would be included in the monthly nut shown on Redfin.
It was more expensive to rent in the luxury tower right down the street than to buy this unit. Of course, you have to put down the big down payment. But your decision would obviously depend on how long you’re going to stay in the property.
JohnnyU acted like the “equivalent” of this unit was available to rent nearby for $2500 or $3000 a month but that’s not true. Not with these finishes (including a new bathroom) and w/d in the unit.
Here’s the link again to the wonderful hospital conversion just down the street: https://andersonpointchicago.com/
“Just Sabrina things”
Nah, just JohnnyU acting like you could rent something similar to this unit for $3000 a month. You cannot.
Andersonville, JohnnyU, is one of the city’s hottest neighborhoods and has been for many years. Nothing is cheap there anymore, either to rent or to buy.
“the prices for a 2/2 with a balcony in that building”
“$3500”
Tier 15 2/2 is $2,550. Yes it’s small, but square footage is just a number.
And any amenity fee (if there even is one) is for things that you would have to pay for in addition to PITA for the condo, so that’s apples to apples.