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New condominiums in Uptown, conveniently located next to the Tattoo Factory, 4441 N Broadway St.
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{ 11 comments }
That building in the foreground of the photo with the “tattoo” sign is vacant and slated to be torn down for the “Wilson Yard” development. The Tattoo Factory is located on the other sign of Broadway now.
The taller building on the left in the background is Buena Pointe condominiums. The red brick building on the right of the photo has apartments that seem to cater to people with mild mental health issues. The owner of that building also owns a building a few blocks south on Sheridan that caters to people with physical health issues.
Yes, the Tattoo Factory is directly across the street from this sign – harder to frame that building against the new condos, though, and, you know, it seems sorta poetic somehow framed this way.
Condo owners are making the trip across Broadway to the Tattoo Factory, according to one Buena Pointe resident, who estimates 70 percent of condo owners in his building have gotten tattoos there – including several modeled on Buena Pointe.
What do you think of that building? Seems like it took forever to sell – tough location in many ways – but I pass it frequently, and its profile has grown on me.
I really seriously doubt that 70% of the condo owners there have gotten tattoos across the street or anywhere. I know tattoos are popular but that seems ridiculous. Seems one of the condo owners is drinking too much at the nearby Driftwood and lost his sense of “percentages”.
As for Buena Pointe itself I like it. If you look at it from across the street from the Jewel it is interesting. I agree it does seem to look better with time. It’s much better than many of the taller buildings nearby which were built in the 60’s in a style I would call early “Stalinesque”.
Most units in Buena Pointe actually sold well. The BIG exception to that was the “penthouse duplexes”. There is not much of market in Uptown for condos beyond about the $450,000 price point. I think I saw a resale there going for around $700,000. That is a whole lotta money for Montrose and Broadway.
Without passing judgment as to the character of the residents of Uptown, lets just say that you can’t really count on appreciation in this neighborhood. There’s NEVER been a market for anything above $300,000 in Uptown. You’d take a huge risk by buying above that price point and expecting to sell at a profit, even many years later. Remember, its the less-wealthy areas that will be slammed hardest by the subprime lending collapse and the ARM resets.
Jane,
you are an idiot, but then again you thrive on that. In fact you are proud of your lack of knowledge and certitude about all things. You should contact the President and see if he has a place for you in the administration. If he doesn’t I am sure VP Cheney can find something for someone of your immense talents. Be careful though, you might be indicted and have to wait for a pardon in January 2009.
Uptown’s strongest and most active condo market is probably from $300,000-450,000. The exception to that is along the lakefront where there are thousands of studio and one bedroom units which are less expensive. That is really almost a completely different market than the areas further west. Highrises buyers and walkup buyers are different critters.
The units priced from $450,000 and up are fewer in number and do tend to remain on the market longer. Although, if you look at Buena Pointe the resales going on in that building show a marked increase over the original sales prices. Although I am sure that bubble you keep hoping for will burst any day now. I am guessing you have been predicting that since about 1987. I imagine the minor bubble around 1992 must have really excited you.
As for appreciation throughout the 90’s Uptown largely vied with Wicker Park/Bucktown for the best appreciation in the city. Now that distinct honor seems to have moved south to the “south side” or what I am sure you would think of as one large ghetto. I’m sure some of the people who live there might think of it as “home”. How quaint and silly of them.
As for your implied theory that Uptown will be hit harder by subprime lending issues and ARM adjustments, I doubt it. The people with credit issues around here are more likely to be renters. Uptown is still largely renters. Although, on certain blocks it is now predominately condos.
The lowrise condo owners here are a different cat than the Lincoln Park owners. These folks generally cut their own lawns, shovel their own snow and actually do much of the common area maintenace themselves. Perhaps that is by necessity or perhaps it is a combination of necessity and work ethic. Something I doubt you know much about.
I agree with the Pirate… You’d have a hard time finding many two-bedroom condos in Uptown for less than $300,000 these days, even with the slow market. However, the price per square foot is clearly lower than in nearby Lakeview, and you can get a lot more space for the money in Uptown. I live in Buena Park near the Lakefront, and I would even say that this area is somewhat nicer than the northernmost parts of Lakeview.
UptownR,
Buena Park is nicer than some parts of North Lakeview. I don’t think I would consider it nicer than the parts of Lakeview near Southport. Now it is certainly quieter than parts of Lakeview between the lake and around 1000 west.
Trying to generalize about neighborhoods that tend to be 18 blocks long and up to 2 miles wide is kinda silly.
GRRRRRRRRRRR,
I meant 12 blocks long. Uptown for example is generally 4000-5200 north.
Lincoln Park: 1600-2800 north.
In any case people who try to generalize about a whole large neighborhood simply don’t acknowledge or understand the size and complexity of these areas.
I said “somewhat nicer than the northernmost parts of Lakeview”. That’s hardly generalizing aobut the entire neighborhood.
In fact, I even said “Buena Park near the Lakefront”, so I’m really being pretty specific here.
UptownR,
I agreed with you. I was speaking about others generalizing about the whole neighborhood.
You clearly were specific about Buena Park as part of Uptown……..not all of Uptown.
I regret the confusion. My writing was imprecise.
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