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Old 12-11-2008, 04:47 PM
 
Location: Roselle, IL
223 posts, read 754,926 times
Reputation: 77

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Did anybody watch House Hunters yesterday? The episode was about a couple buying a condo in Lincoln Park...

They ended up buying a 2-room condo close to the El (noise) for 350k... I had no idea condos were that expensive in LP...
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Old 12-11-2008, 04:51 PM
 
Location: Lincoln Park
838 posts, read 3,087,584 times
Reputation: 172
First of all, Lincoln Park is a more expensive neighborhood whose price can only be rivaled by that of Gold Coast.

Second, the couple wanted a 2 bed 2 bath and a parking spot, i.e., the whole shebang. I am actually surprised that they could find what they wanted with 350k. Of course, that building is right across a busy st from the EL Train track, a major turnoff to many homebuyers, which doesnt seem to bother them, but I would not be able to put up with the noise.

Finally, most of the new 2/2 condos in a more desirable part of lincoln park go for much more than 350k. case in point, a 2/2 in Lincoln Park 2520 by the park goes from 750k and up.


Quote:
Originally Posted by vandre View Post
Did anybody watch House Hunters yesterday? The episode was about a couple buying a condo in Lincoln Park...

They ended up buying a 2-room condo close to the El (noise) for 350k... I had no idea condos were that expensive in LP...
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Old 12-11-2008, 05:07 PM
 
Location: Roselle, IL
223 posts, read 754,926 times
Reputation: 77
.... I'm glad I'm not the only one that likes that show

Now you made me think, it would be interesting if they make another episode with people looking to buy in the Gold Coast...
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Old 12-11-2008, 05:10 PM
 
Location: Lincoln Park
838 posts, read 3,087,584 times
Reputation: 172
I think HGTV did run an espisode of ppl buying in the GC. It was a few months back when a couple of investors trying to purchase an investment rental property by lakeshore dr in GC. I think the lowest priced unit they found was 399k.

Quote:
Originally Posted by vandre View Post
.... I'm glad I'm not the only one that likes that show

Now you made me think, it would be interesting if they make another episode with people looking to buy in the Gold Coast...
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Old 12-11-2008, 05:22 PM
 
Location: Chicago - Logan Square
3,396 posts, read 7,178,984 times
Reputation: 3731
Quote:
Originally Posted by lincolnparker View Post
Second, the couple wanted a 2 bed 2 bath and a parking spot, i.e., the whole shebang. I am actually surprised that they could find what they wanted with 350k. Of course, that building is right across a busy st from the EL Train track, a major turnoff to many homebuyers, which doesnt seem to bother them, but I would not be able to put up with the noise.
It was a decent price for what they got. Awhile back I worked with my realtor to do some CMAs looking at how much a house would be discounted for being close to the El. It was a 15-20% discount along the Blue Line and the Brown Line (North Center, Lincoln Square, Wicker Park, and Logan Square were the areas we looked at). It's really not that bad living by the El.
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Old 12-11-2008, 05:27 PM
 
Location: Lincoln Park
838 posts, read 3,087,584 times
Reputation: 172
Yeah. I agree. a comparable unit not by the EL in Lincoln Park can easily set you back 400k or more.

Quote:
Originally Posted by Attrill View Post
It was a decent price for what they got. Awhile back I worked with my realtor to do some CMAs looking at how much a house would be discounted for being close to the El. It was a 15-20% discount along the Blue Line and the Brown Line (North Center, Lincoln Square, Wicker Park, and Logan Square were the areas we looked at). It's really not that bad living by the El.
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Old 12-11-2008, 05:31 PM
 
11,973 posts, read 31,654,768 times
Reputation: 4641
That episode was a repeat at least a year or two old, and that unit was suspiciously cheap, in my opinion. A friend of a friend was on House Hunters in Edgewater a few years ago, and apparently they purposely misrepresented the prices. In that case, they said the prices were much lower than they actually were.
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Old 12-11-2008, 05:34 PM
 
Location: Lincoln Park
838 posts, read 3,087,584 times
Reputation: 172
today's price is lower than last years. Most reports and indexes have pointed to a 10% decline on average in chicago market over last year

Quote:
Originally Posted by Lookout Kid View Post
That episode was a repeat at least a year or two old, and that unit was suspiciously cheap, in my opinion. A friend of a friend was on House Hunters in Edgewater a few years ago, and apparently they purposely misrepresented the prices. In that case, they said the prices were much lower than they actually were.
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Old 12-11-2008, 05:36 PM
 
11,973 posts, read 31,654,768 times
Reputation: 4641
Quote:
Originally Posted by lincolnparker View Post
today's price is lower than last years. Most reports and indexes have pointed to a 10% decline on average in chicago market over last year
And like I said, that episode was pretty old. So I think the prices should have been higher. I can't say exactly when I saw that episode for the first time (it's been aired many times), but it's pretty old.
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Old 12-11-2008, 07:01 PM
 
Location: City, State
364 posts, read 1,564,998 times
Reputation: 156
Quote:
Originally Posted by Lookout Kid View Post
That episode was a repeat at least a year or two old, and that unit was suspiciously cheap, in my opinion. A friend of a friend was on House Hunters in Edgewater a few years ago, and apparently they purposely misrepresented the prices. In that case, they said the prices were much lower than they actually were.
Why on earth would they do that?
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