Still hanging on! Lincoln Park's curious cottage on Armitage yet to be developed

We last wrote about the house at 625 W Armitage last November.  Public notices were posted regarding a variance request by an active local developer. Almost one year later the house still remains.

Looking south down North Howe Street from 625 W Armitage

The area of Armitage and Howe is made up of mostly high-end homes, newer condo buildings and vintage condo conversion buildings.  2041 N Howe (just a half block from 625 W Armitage) sold this summer for $3,832,500.00

Lincoln Park's curious blue cottage meets its maker, torn down yesterday

625 W Armitage before.  I took this photo a couple weeks ago.  The photo below of the empty lot was taken today.

All Photos Eric Rojas, Broker, Kale Realty.  We just posted an update on 625 W Armitage last week.  The cute as a button time capsule in the tony Lincoln Park location had survived circa 1886 until yesterday.   

Pulitzer Prize winning columnist Mary Schmich of the Tribune interviewed me about the "whimsy" of the house (must be digital subscriber).

 

It's a shame the tiny home could not have been preserved as a little history museum for Chicago tourists and citizen alike.  The diminutive cottage was an eye catcher - a curiosity as I've called it - down a not so super attractive strip of West Armitage.  That said, I understand the reality and economics of trying to preserve this home rather than build a new property.  Without any real historical cache it's a miracle we were able to take it in for so long.

Lincoln Park's curious cottage at Armitage and Howe to be re-developed

We've had an eye on this little house at 625 W Armitage for as long as I can remember. My partner Bob has half-joked for years that it's the perfect house for him every single time we pass it. He doesn't need or want a lot of space and the location is not too shabby.

Photo Robert DePalma, Eric Rojas - Real Estate Brokers at Kale Realty

Well, our little joke is over.  Public notices have been posted on the house for a zoning variance request.

 
The house was last purchased as a short sale in 2008 for $485,000 cash.  The local and long time successful developer has weathered the storm with the property and now is ready to... develop.  Houses are in general scarce in Lincoln Park.  Most (when priced within reasonable market parameters) sell in multiple offers. So, the time is right.

I have not seen the plans for the house.

I found this really good blog post written in 2007 by another "watcher of 625 Armitage".  The author is still writing HERE

Clients buying in Old Town Triangle: Property sales this year

The quintessential Old Town Triangle property! All photos Eric Rojas, Broker, Kale Realty

Old Town Triangle in Lincoln Park is one of the most desirable neighborhoods in the city.  For one it's located close to the lakefront and easy to downtown.  But the overwhelming allure is in the historic district properties and remaining brick paved streets. It's a neighborhood where you may sacrifice luxury, space and suffer some quirks just to "be there".

A detached two-flat property at 304 W Concord, Chicago IL 60614 is for sale at $475,000 offered by the lovely and professional Amy Arnold, Kamberos Associates... a bargain for the neighborhood.  The traditional cottage style home is currently has (2) one bedroom apartments rented out.  The catch? It's adjacent to a larger multi-unit building and the short lot does not have alley access and backs up to another property's backyard. You have an unofficial easement to reach the back alley.

My long time clients and native Chicagoans viewed 304 W Concord in Old Town Triangle last week.  The Lincoln Elementary school district is a top priority along with a highly walkable location.  They would live in the property themselves and convert the small two unit building back to a single family home. Like anyone, they have to weigh the construction costs and quirky lot vs living in their most desirable dream location.

Find yourself in ye Olde New England village!

Old Town Triangle Residential Property Sales (non high-rise) January 1st - April 15th, 2015

Extended Old Town Triangle area: Clark to Mohawk and Armitage to North Ave.

13 residential properties have sold thus far in 2015 in Old Town Triangle area above. The median price for a property is about $525,000.   In 2014, 11 residential properties sold during the same period for a median price of about $450,000.

Square footage is at a premium so you have to adjust your expectations at $500,000.  All the properties sold this year were either attached homes (condos/town house) or multi-units.  We have not had a single family home change hands this year (recorded on the MLS). 

Two 3 flat multi-unit buildings sold.  A brick three-flat at 1922 N Sedgwick closed for $1,175,000 and another brick three flat at 1839 N Orleans sold for $1,610,000 in a multiple offer.  Bother were attractive vintage buildings.

Under Contract
There are currently 20 properties under contract.  They are all attached units or multi-unit buildings and prices range from $290,000 to $3.5 million.  The $3,500,000 property is a new construction penthouse condo listed at over 4,300 square feet. 

Take a video walk-through of our past Old Town Triangle row house sale at 1826 N Lincoln.  One of our all-time favorite homes!