Vintage Style and Modern Amenities in an East Lincoln Park 3-Bedroom: 500 W. Armitage
This 3-bedroom at 500 W. Armitage in East Lincoln Park came on the market in March 2024.
I spent a few hours looking through my picture collection because I thought I certainly had a picture of this building as we’ve all walked/driven by it hundreds/thousands of times. But, alas, I don’t have one.
Built in 1889, 500 W. Armitage has 24 units. I’m not sure if any of the units in this building have parking.
There is a bike room and extra storage. The listing also implies that the building is on the National Register of Historic Places.
This unit is on the third floor and is a “sunny” Southeast corner with 3 exposures: North, South and East.
It has some vintage features but they may not be original.
It has 11 foot ceilings, crown moldings, wainscoting and a fireplace in the living room (decorative or wood burning? An old listing says its wood burning.)
The listing says the unit has “massive” windows which have been replaced with thermal pane Pella windows.
The unit has “masterful” built-ins, including bookcases in the living room.
The kitchen is a “newer” chef’s kitchen with Cafe Suite appliances, a white tile backsplash, open shelves, and beige/light gray(?) cabinets. It also has a small kitchen island with a butcher block counter top.
Like many vintage units, it has a separate dining room.
One of the bedrooms is en suite.
There is a built-in desk space and walk-in-closet in the second bedroom.
The third bedroom is being used as an office.
This unit has a “massive” private, secured deck off the back of the unit.
It has some of the features buyers look for including central air, washer/dryer in the unit but there is no parking. The listing says there is “easy street parking.”
This building is near the shops and restaurants of East Lincoln Park and the Lincoln Park Zoo.
Listed at $535,000 for a 3-bedroom, will the lack of parking be an issue on this sale?
Danielle Inendino at Redfin has the listing. See the pictures, floor plan and 3D walk-through here.
Unit #3: 3 bedrooms, 2 baths, no square footage listed
- Sold in September 1971 for $23,482 (per Redfin)
- Sold in February 1990 for $225,000 (per Redfin)
- Sold in August 1993 for $339,750
- Sold in October 1997 for $264,000
- Sold in August 2002 for $405,000
- Sold in May 2008 for $447,000
- Sold in August 2019 for $485,000
- Currently listed for $535,000
- Assessments of $441 a month (includes security, exterior maintenance, snow removal)
- Taxes of $9374
- Central Air
- Washer/dryer in the unit
- No parking
- Fireplace (decorative or not????)
- Bedroom #1: 14×11
- Bedroom #2: 12×11
- Bedroom #3: 11×10
- Kitchen: 14×16
- Living room: 15×15
- Dining room: 13×14
- Laundry: 7×8
- Deck
Nice enough place, a bit cluttered
$5k/Hoa seems really steep for really nothing, paying off the window replacement or ???
Not much appreciation
I suppose lack of parking is indeed what’s kept the pricing down on this one, unless there’s some other issue that isn’t obvious (building issues, noise from feet upstairs, etc.). I like it.
$5K/HOA
HOA covers more than items you can see. Building insurance is part of the HOA and continues to go up.
Clutter – the seller needs to clean it out before the buyer moves in.
nice place but not a fan of the white appliances with that color cabinetry.
Very nice unit and the furnishings work well. Where is the back door?
“The third bedroom is being used as an office.”
The third bedroom requires the removal of builtin cabinets to be anything other than an office.
“Where is the back door?”
WYM? Do you mean “where are the back stairs?” There aren’t any.
“Sold in August 1993 for $339,750”
This is wrong–Recorder has it on the data page as that amount, but actual price was $226,500.
“Sold in August 2002 for $405,000”
+CPI = $695,500
+C-S Condo = $592,500
ps: anytime the recorder shows a purchase price that ends in something other than X,500 or X,000, there is an error. The amount is always based on teh transfer tax, and transfer tax has always been X/$500 of price–so the sig digit is $500.
pps:
Sold in August 2002 for $405,000
Sold in May 2008 for $447,000
Back in ’08, this sale pair would have been used by Stevo as “proof” that LP wouldn’t go down.
Not my style but the place looks great. Decent floor plan.
“Clutter – the seller needs to clean it out before the buyer moves in.”
Just a reminder, the furniture, artwork, mirrors etc. will NOT be there when you move in. You can even change the paint color if you don’t like it. Imagine that?
“I suppose lack of parking is indeed what’s kept the pricing down on this one, unless there’s some other issue that isn’t obvious (building issues, noise from feet upstairs, etc.). I like it.”
I like it too.
“$5k/Hoa seems really steep for really nothing, paying off the window replacement or ???”
If you owned a home from the 1880s that was all brick you’d have to do quite a bit to keep it looking so nice.
These are custom, historic windows. I can’t even imagine how much it cost to replace them all. That’s a question buyers should ask, however. Was it a special assessment to pay for them or did they have enough in reserves?
Also, I think this building is made up of multiple units all facing armitage with separate doorways/entrances. That is multiple staircases to maintain inside the building. Have to clean those staircases as well. More upkeep than you’d have on a 3 or 4-flat.
I love the big back decks like this. Also, while I know the building codes no longer allow it, having it completely secure, with no stairs, is very appealing, just from a security standpoint.
“If you owned a home from the 1880s that was all brick you’d have to do quite a bit to keep it looking so nice.
These are custom, historic windows. I can’t even imagine how much it cost to replace them all. That’s a question buyers should ask, however. Was it a special assessment to pay for them or did they have enough in reserves?
Also, I think this building is made up of multiple units all facing armitage with separate doorways/entrances. That is multiple staircases to maintain inside the building. Have to clean those staircases as well. More upkeep than you’d have on a 3 or 4-flat.”
1920’s brick and stucco SFH – minimal amount expended on the exterior
I love how you repeat a statement made by others and act like you had a brilliant revelation, lol
This isnt a SFH, and the property is taking in $120k a year
“I can’t even imagine how much it cost to replace them all.”
Looking through the walkthrough, it looks like not all the windows were replaced, but it’s hard to be 100% certain, so that would be something to nail down, too.
2008 price sounds good. Final offer
“This isnt a SFH, and the property is taking in $120k a year”
According to you, JohnnyU, you don’t live in a historically protected condo complex and probably never have. Lots of expenses with a building this old and with this many units. You don’t know what everyone pays in the building, by the way. This is a 3-bedroom unit. Might pay more than some of the others.
But it would sound right that they need to build reserves with the cost of doing exterior maintenance like tuck pointing, roof replacement, back porch replacement, carpet and painting of the stairwells and those windows, even if it was just the front windows and not the back, would be really expensive. I lived in a graystone that had custom historic windows in the front of the building. It was a ton of money to get those windows because they had to be historically accurate and, as I said, custom made.
But if you are so concerned, you can ask the listing agent what the reserves are like and what the expenses are.
All buyers should get a budget from the condo board anyway.
“According to you, JohnnyU, you don’t live in a historically protected condo complex and probably never have. Lots of expenses with a building this old and with this many units. You don’t know what everyone pays in the building, by the way. This is a 3-bedroom unit. Might pay more than some of the others.”
Listen Drunky, I’ve managed major renovations for 2 buildings on the National Register, including window replacements and yes I have a really good idea as to the costs and bullshit associated. Which is why I initially mentioned the $$$. If you wernt in a blind drunken rage you might be able to follow
“But it would sound right that they need to build reserves with the cost of doing exterior maintenance like tuck pointing, roof replacement, back porch replacement, carpet and painting of the stairwells and those windows, even if it was just the front windows and not the back, would be really expensive. I lived in a graystone that had custom historic windows in the front of the building. It was a ton of money to get those windows because they had to be historically accurate and, as I said, custom made.”
Why would any of that be any more expensive than a normal building?
“But if you are so concerned, you can ask the listing agent what the reserves are like and what the expenses are.”
So we’re not supposed to discuss things like this?
“You don’t know what everyone pays in the building”
The ratio of what they pay is public info (%ages in the Condo Dec).
This unit is third highest out of the 20, at 5.904.
Assuming that the $441 is the full, normal, assessment, that means the total is just under $90k/year.
They likely pay “too much” for their snow/yard service, to ensure prompt attention when it snows. “Security” is a wild card for cost, too.
““Security” is a wild card for cost, too.”
If they have cameras in each vestibule, with 24/7 online monitoring, it can add up.
“Why would any of that be any more expensive than a normal building?”
Because they are custom made and have to meet historic landmark standards. All of it costs more money. A lot more.
“So we’re not supposed to discuss things like this?”
There is no “discussion” if no one has the information. You don’t. I don’t. But you’d get it if you asked the listing agent what the reserves are and what the expenses are. Or get the actual MLS listing and see if it’s there.
Contingent.