Vintage in Lincoln Park for under $275,000: 1104 W. Montana
Lincoln Park continues to be pricey for those looking for a first home- i.e. a one bedroom condo.
1104 W. Montana in Lincoln Park appears to fit the bill and is currently listed at 2006 pricing. From the listing:
JOB RELOCATION OUT OF STATE – SELLER’S LOSS YOUR GAIN. IN 2007 $10,000 IN UPGRADES. APPRAISED 10/07 FOR $270K. LOCATION BEATS THE COMPETITION. BEAUTIFUL MONTANA ST. IS QUIET AND HAS FAR LESS TRAFFIC (READ: EASY PARKING).
1.5 BLOCKS TO FULLERTON EL AND GROCERY, WALK TO EVERYTHING. VERY SUNNY, CALIFORNIA CLOSETS, ATTRACTIVE BUILDING. ASSESSMENT INCLUDES HEAT, TAXES EXCEPTIONALLY LOW FOR LP.
I can’t tell from the listing if it has parking or a washer/dryer (it doesn’t appear to have either.)
Unit #2: 1 bedroom, 1 bath
- Sold in August 2001 for $177,000
- Sold in July 2006 for $250,000
- Currently listed for $256,000
- Assessments of $245 a month
- Taxes of $1,627
- Livingroom: 19 x 11
- Bedroom: 14 x 11
- Diningroom: 11 x 10
- A/C Window Units
- Hudson Parker Realty has the listing
Price change on 5/12 brought list price down to $252K. Laundry is in the basement of the building. Still over priced. It’s been on the market for 160+ days.
Also, no parking. Street parking there is not terrible.
I love this unit, the location is awesome as is the fact that its a garden unit or close. Those windows with the trees are awesome. I also like the paint job they did and there are very few paint jobs I like.
What are the deal killers are no parking and no central air. The no parking for this fantastic location could be forgiven I suppose if rental parking is nearby, but I’d expect central air for 250k+.
I don’t think it would be too overpriced if it had central air.
Not a bad area, it is indeed quiet over there. Friend at Lill/Seminary has no difficulty parking on the street, for those who require it.
I’d consider it for $177K, what do we suppose the going rate would’ve been in 2003?
dinning room looks a little cramped eh?
I agree with other posters here… $177K sounds about right, relative to rent for comparable units in that area.
2001 prices sound about right.
Why do people still buy one bedrooms in this declining market? Are they all confirmed bachelors, and don’t expect to have a significant other, or even children, in a near future, which may force them to sell?
Linda, some of us do not ever plan to have children (at least 10% of the population), and have no problems living in a one bedroom with a significant other. Shocking, I know, but true.
I always cringe when I hear people say on this site that buyers will regret having a 2/2 once they have a child. Seriously, remember how we all grew up? Remember how we shared bedrooms with our siblings? And now our homes did not have “guest rooms” or “offices”? Remember how we shared bathrooms? Remember how no one felt deprived by this?
The outsized home phenomenon was a product of cheap credit leading people to buy more house than they ever felt they “needed” before. And like cheap credit, the outsized home phenomenon, too, is on its last legs. (I hope.)
Kenworthey,
I couldn’t agree more. Linda you should know that the fastest growing demographic (latinos) by a long shot are able to live in close quarters and they manage to survive and thrive. They don’t seem to “need” granite countertops or stainless steel appliances, either.
I think a lot of the things you consider a “need” if you actually look at them are wants. Sure I would love to have a unit with a den for a computer room, sure I would love to have a second bedroom for visting friends and family, etc. However at the end of the day these things aren’t needs. And given how steep housing prices are only the needs win out these days.
I wouldn’t buy this unit at 250k, but at 200k I definitely would jump in on this. At 200k so long as I’m expected to live in it for a few years there will always be a supply of people who want to live in LP. I doubt this unit will drop that far though.
“you should know that the fastest growing demographic (latinos) by a long shot are able to live in close quarters and they manage to survive and thrive.”
Dude, I wouldn’t say this anywhere that isn’t anonymous. That could easily be perceived as racist (and is defintiely classist). It certainly makes me uncomfortable. Everyone–anglo, chicano, black, asian, polish, martian–is “able to” live in close quarters and “survive and thrive”, but most who can afford to don’t choose to.
I know plenty of “latinos” (not really correct for much/most of the Chicago-area’s chicano population) who want–and have–exactly the same amenitites in their homes as any overprivileged, yuppie anglo scumbag (with or w/o trust fund). It isn’t a ethnic/racial thing, it’s an economic thing.
I don’t care about your delicate political sensibilities, anon. And you’re quite the classist yourself with your comments about privilege.
Your paradigm and views certainly place you in the hyper-sensitive camp and I don’t mind that you’re not comfortable here. You obviously aren’t comfortable in life so try to make other feel similar.
I will reiterate: the fastest growing demographic in Chicago and this country is latinos and they survive and thrive in close quarters. Other demographics haven’t been able to have nsimilar success. Go back to reading Marx and Engels hippie and getting offended as a proxy for perceived affronts to others because political correctness is a flawed idealogy.
Bob:
You are a douchebag. I AM an overprivileged, anglo, yuppie scumbag (no trust fund, tho). I’m pretty comfortable with myself, but racism (subtle or overt) makes me uncomfortable.
Much of my extended (irish) family grew up in a two bedroom house occupied by 4 to 12 people. They “survived and thrived” because of who they are, not because of their ethnicity. My mexican friends and acquintances would be insulted by your insinuation that they (a) have an improved ability to deal with difficult circumstances due to their ethnicity, rather than their personal experience and (b) wouldn’t prefer to have a nicer, larger home.
You may well be right that “latinos” would rather spend their money on something other than stainless appliances and granite counters, but the comments here show that that is really a decorating/resource-allocation preference that isn’t ethnically based.
Now that we’re through with the political correctness B.S, previous posters have made a great point about the amount of space families “need”. I have heard plenty of couple say they need to move out of their 2 bedroom condo and into a 3000-4000 sq ft house now that they have an infant. Since when do infants require 1000 sq feet of their own?
Anon,
You are the douchebag. You are only “privileged” in that sense that your parents or environment allowed you to have a sort of political persuasion and paradigm that you feel guilty of being white, its more of a liability than a privilege actually.
“My mexican friends and acquintances would be insulted by your insinuation”
Perhaps some would. But your post certainly sounded like you were offended in their proxy. Hence you are the douchebag for being offended in the staid of others. Latinos would rather have larger families than stainless steel appliances or granite countertops.
Your last paragraph is complete nonsense. How is it not ethnically biased? Demographic statistics show otherwise, but you’re not quite good at math are you?
Are you going to start speaking for your token black friend too if a property on the south side or Obama’s name appears in one of these threads? Get a life and a clue.
And yes anon, you are overprivileged. So in order to reduce your inherited quantity of overprivilege please discontinue use from the internet..we won’t complain.
Bob:
Yes, I am a douchebag, too. I can admit it. However, I have no guilt about being white. But I do have problem with racism. Saying that “latinos” or blacks or whites make less expensive housing decisions because they are latino or black or white is vieled racism. Implying that any white person who has a problem with racism is self-hating is racism. I’m not posting for anyone else’s offense, I’m posting for my own.
I suppose you think Obama is a “secret muslim”. Douchebag.
Also, “demographic statistics” show that “latinos” don’t like stainless applicances and granite coutertops enough to pay extra for them? That’s a pretty fine-grain study.
Sorry for taking this so off-topic.
“Kenworthey on May 15th, 2008 at 9:41 am
Linda, some of us do not ever plan to have children (at least 10% of the population), and have no problems living in a one bedroom with a significant other. Shocking, I know, but true.”
The reason I mentioned a “significant other” instead of a “spouse” is because of that 10% of the population, so please don’t turn my question into something it wasn’t meant to be.
If you’re OK with living in a 1/1 for a long time, that’s fine, but for many people it’s just a starter home that they hope to trade up in the future. And by buying it in this market, they risk not being able to sell without a loss when the time comes. So is owning your place instead of renting one for less money worth this risk?
I wasn’t referring to gay couples; I’m a straight woman who doesn’t plan to have kids. And straight couples who choose not to have kids make up about 10% of child-bearing-age couples. Add to that the subset of gay couples who don’t want kids and empty-nest couples, and the market for people who would be happy to live in a 1BR for a significant amount of time (5+ years) is not trivial. For sure, they are not all “confirmed bachelors, [who] don’t expect to have a significant other, or even children, in [the] near future”.
Believe me, I wasn’t trying to add to the already-appalling direction this thread has gone! (Yay, California Supreme Court, by the way!) 🙂
As a childless, single woman, I can deal with a large one-bedroom for life, except that I have a painting habit that requires space, and I don’t want it in the living or dining areas.
However, for the right price, a one bed is fine, and when I can spare the money, I can rent or buy a rough, unfinished space for the painting.
I’m preparing myself for a world of $300/barrel (or more) oil, and that means we will all be taking up less space than we were for a while, and giving up cars, or at least sharply reducing our driving. In a world of car-sharing, lots of parking will be freed up.
That, or we’ll be living in our cars, which is a pretty dismal alternative.
They dropped it $7000 to $245,000