Vintage Lincoln Park 2/2 Listed 25% Below the 2008 Price: 2019 N. Sheffield
For those who think the GreenZone hasn’t been impacted by the housing bust, take a look at the sales history of the 2-bedroom vintage unit at 2019 N. Sheffield in Lincoln Park.
Built in 1884, it has been renovated but the original window moldings of the Victorian building remain.
It has tall ceilings with recessed lighting and hardwood floors in the living/dining room.
The kitchen was renovated for the 2008 sale. It has cherry cabinets, stainless steel appliances and granite counter tops.
The unit also has a rare walk-in closet (as vintage apartments normally don’t have big closets.)
It has central air and in-unit washer/dryer. But it doesn’t have parking.
Yes, that’s the El directly behind the building.
The unit is listed for 25% under the 2008 purchase price of $400,000– or at $299,900.
Before you all say, “but Sabrina, it’s ON the El line”- it was also on the El line in 2008 and 2003- when it sold for more than it is listed for right now.
Is this a deal?
Richard Kasper at Conlon has the listing. See the pictures here.
Unit #203: 2 bedrooms, 2 baths, no square footage listed
- Sold in May 1989 for $139,500
- Sold in March 1993 for $167,000
- Sold in August 1999 for $245,000
- sold in June 2003 for $315,000
- Sold in August 2008 for $400,000
- Currently listed for $299,900
- Assessments of $230 a month
- Taxes of $4328
- Central Air
- Washer/Dryer in the unit
- Wood burning fireplace
- No parking
- Bedroom #1: 13×11
- Bedroom #2: 11×10
- Walk-in closet: 7×5
Wow, a perfectly nice 2-2 vintage in a very desirable location, Sheffield & Armitage no less. As for the proximity to the el, it may come as a vast surprise to people who judge the desirability of an urban neighborhood by how far it is removed by traditional urban amenities (which mean more noise and traffic), but a lot of people LIKE being close to the el and will pay a premium to be near it.
This looks like a deal to me, and if it doesn’t sell at or close to this price very soon, then we can figure that the housing market is much worse off than we are reading in the media, even though we KNOW that the impeccably honest and objective business media and the NAR would never, never, ever, ever lie to us or misrepresent statistics or mislead us in any way,hah.
And is this place FHA-approved? If so, then it should sell very quickly and maybe even be bid up. You will only need a household income of $75K a year, 3.5% down, and a FICO score of 500 (not a typo) to qualify if you haven’t had a foreclosure, short sale , or bankruptcy in THREE YEARS under new rules being proposed by the FHA, with the goal of making it easier for people with major negative credit events to qualify. This proposed change in the rules ,of course, is part of our government’s ongoing heroic effort to re-inflate the housing bubble, with results that we have seen.
“if it doesn’t sell at or close to this price very soon, then we can figure that the housing market is much worse off than we are reading in the media”
Why? Because a vintage 2/2 without parking in west LP practically on the tracks is listed at 25% below bubble peak pricing? It’s a charming place, with nice updates to the kitchen, etc., and the w/d and ac do set it apart from its peers. I’m thus a little surprised that they didn’t list at around $325k, with a close of $300k in mind. But maybe they’re just being agressive, either because they can afford to be or because they’re about to go off the cliff. In any event, $300k seems about right.
on the el, no way. i lived across the el and that was tough enough.
People like to be *near* the L, not *on* it. They want the convenience, not the noise.
I agree with nonya, I want to live very close to the L just not next to it mostly b/c of the noise and privacy issues. Having said that I think this place looks great and will likely sell quickly.
“Before you all say, “but Sabrina, it’s ON the El line”- it was also on the El line in 2008 and 2003”
maybe EL is the reason the sales look like this
1989
4years later
1993
6years later
1999
4years later
2003
5years later
2008
4years later
2012 listed
the fact that people actually make it 4 years is shocking. maybe the live in the unit one year cant stand the train then rent it out the other 3 at a loss.
Great lookin place, too bad about the el literally being right outside and level with this unit, that would kind of suck after a while and is reflected in the sales history
I live in a loft on Lake street with windows about 8ft from the el tracks. Seriously folks, IT’S FINE. When I have friends over we make a drinking game out of it, drink every time the green line zooms by. Makes for some interesting nights to say the least…
I like the vintage feel of this unit a lot and think it’s priced reasonably for the location. I would ditch the piss-yellow paint first and then invite the friends over.
This place doesn’t have any windows facing east, does it? Looks like it’s northside of the building, at the front. Not that it’s quiet enough to have your windows open, but it’s also not like the el is 15′ from your windows, either.
Seems like a get-it-sold asking price. Everything in the pix looks great.
“When I have friends over we make a drinking game out of it, drink every time the green line zooms by. Makes for some interesting nights to say the least…”
Green line runs–what? 4x? 6x?–an hour each way. This spot has Brown *and* Red, so at peak times, it’s close to 40 per hour each way. With the Brown stopping almost right behind the building. Not a good comparison.
but: “about 8ft from the el tracks”
The closest window in this place to the tracks is more like 50′.
Don’t forget the purple line too… rush hour has trains going by every (seemingly 3-5 minutes at my place and thats just brown and purple, I can’t imagine adding the fricking red line as well
“This spot has Brown *and* Red, so at peak times, ”
one would hope you are out of the house at your day job during those peak times unless you either work from home or the night shift.
I don’t mean this to sound callous, but wouldn’t being right on the el be a good deal for the significantly hearing impaired? I realize there are some other downsides of living right on the el, but noise is surely the biggest one. And prices are discounted accordingly.
Not to suggest that the hearing impaired should only live near the el, but that some might see it as a good deal.
“one would hope you are out of the house at your day job during those peak times ”
So, you live here so you can have a 15 minute commute to your Loop job, and you should be out the door before 6 am and not home again until after 7:30 pm? The middle of the day–when one *would* be at work–isn’t the peak time.
@tfo, I think we need to agree on what the peak times are. I could make an arguement that in my younger days I would leave the house for work and not get home until almost bedtime, especially during the summer.
“I think we need to agree on what the peak times are.”
Peak times are basically when the Purple Line is running: in this spot, basically 6-10 am and 3-8 pm. Not saying that it wouldn’t be likely that the owner would be out of the house most of that time, but you said “at your day job” (and, at that stage in one’s life, I’d still recommend renting).
DZ, it would depend on if the person had any hearing at all. It would be annoying if the person had some hearing, because the El noise could interfere with what little hearing the person has…. for a completely deaf person, this place might be a good deal as long as you can’t feel the building shake when the train went by.
“I live in a loft on Lake street with windows about 8ft from the el tracks. Seriously folks, IT’S FINE.” Conversely, we lived in a building adjacent to the redline, about 8 floors up, and it was the longest (and loudest) 6 months of my life. I guess YMMV.
“People like to be *near* the L, not *on* it. They want the convenience, not the noise.”
Correct. Talk to mcmansion builders, they won’t buy lots within 1 block from the L or and L stop.
The Green line rambling down Lake Ave. on that rickety-rackery elevated platform has to be the loudest L in Chicago, with the exception of Blue line as it goes down the east side of Wicker Park.
clio came up with the deaf angle a year ago but was talked out of it
clio (April 12, 2011, 8:33 am)
Wait – seriously – do you think this might make a good home for deaf people. I really am not trying to be obnoxious – but it seems that this might be the perfect place for the deaf.
http://cribchatter.com/?p=10317
“clio came up with the deaf angle a year ago but was talked out of it”
Aaaarggghhhhhhhhh. Well, it’s been nice knowing you all. Going to self immolate now.
Don’t light the match, DZ. I’d never confuse you with Clio.
I love the big windows and vintage touches in this unit. I’d have to spend some time hanging out there to see how much of an effect the L has. At least it’s not visible from any windows.