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| Buying a two bedrooms, one bath condo (rather than a "two, two") can be a way to get more living space and better finish level while saving a few bucks. With all the redevelopment to high-end houses and luxury rental units two bedrooms, one bath condo inventory is low. (All photos Eric Rojas, Broker, Kale Realty) |
We have a client who is looking to sell her
Lincoln Park two bedrooms, one bath condo later this year. It's a rare combination of a small four unit building, an (relatively) affordable unit at around $299K with great deck, in-unit washer and dryer
AND garage parking near Diversey and Halsted. No it does not back up to the train! I often suggest clients get a really nice two beds, one bath unit than a smaller "two, two" with less features.
Let's take a look at two bedroom, one bath condo sales in Lincoln Park 2016
80 two beds, one baths condos sold over-all in 2016. The median price of was $323,000. Wow, compare that with 362 two beds, two baths units with a median price of $436,000. That extra bathroom will cost you!
The highest two bedrooms, one bath sale in 2016 was 2003 N Howe Street #3N for $526,000. The renovated vintage unit does have an outstanding kitchen but no designated parking included. The lowest sale in 2016 was 619 W Drummond Place for $210,000. The garden unit had standard gut renovation finish level but no in-unit laundry, outdoor space nor parking.
53 of those sold units included some form of parking (designated or easily rented). The median for these is still about the same at $327,000.
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| Give up a 2nd bathroom and get a better location! |
In 2015, 97 two beds, one bath units closed with a median price of $310,000.
2014, 102 units closed with a median price of $315,000.
2013, 78 units closed with a median price of $298,000.
Median price is up about $25,000 since 2013.