After selling real estate in our beloved City for over 30 years, I have helped countless clients balance their priorities when it comes to buying a condo: assessments vs. amenities, outdoor space vs. character, professional management vs. self-management, vintage property vs. newer construction, mean door staff vs. (mostly) nice neighbors…the list goes on and on.
But of all possible amenities, there is one which garners the most discussion, the most allure, the most passion. Of course, I’m referring to the glorious deeded garage space. No one can argue that a deeded garage space is truly a beautiful thing - really, a gift from a higher power. But it’s often not available; many buildings were constructed at a time when employing a horse was, well, what people did.
And although there is a huge contingency of buyers for which the lack of parking is an automatic deal breaker, I am not among them. When we were looking for our first home, we stumbled on the best find in our price-point: a super cool mid-century townhouse with tons of space, light, and style in an ideal location. The only real negative was the lack of parking. Balancing our priorities, we decided to move ahead with it and find rental parking close by - a decision we never regretted.
Given the esteemed position a deeded garage space occupies in our condosphere, imagine my surprise last week when a rookie agent reached out to me about one of our $1 million listings, and asked if his buyer could buy the residence without the garage space offered with the condo. He explained that his client doesn’t own a car and has no need for the garage space.
Although there can be a lot of nuance demanded in my profession (requiring my 30+ years of experience, of course), there is one path that is crystal clear: if your client has the opportunity for a deeded garage space, you tell your client to buy the damn space. Even if they don’t have a car, even if they are anti-garage, even if they want to divert the extra monthly charge to their Starbucks account, even if they believe that cars are destroying the planet.
Without the parking space, the value of the residence is reduced disproportionately among the competition when it comes to resale. So, buy the space. If you don’t have a car, rent it out, just stand back and admire it, post a picture of it on Instagram, play bingo in it, move your kids there. I really don’t care - but I won’t let you pass up that opportunity.
Have a great weekend!
Clue: A Walking
Murder Mystery in Chicago
CLUE: A Walking Mystery is an interactive game that takes place across multiple locations in downtown Chicago, starting at Block 37, including popular sites and shops. In this new spin on everyone’s favorite mystery game, guests step into the roles of beloved CLUE characters (Mayor Green, Colonel Mustard, Solicitor Peacock, Professor Plum, Miss Scarlett and Chef White) as detectives to solve the mystery of who murdered the elusive Mr. Boddy. The furniture from Tudor Mansion has been auctioned off and scattered throughout downtown Chicago and now you’re on the case to find Mr. Boddy’s murderer. Get ready to search for these long-lost antiques from the iconic Tudor Mansion rooms and be the first group to figure out WHO did it, WHERE, and with WHAT! Ready to dive into the world of CLUE?
Wicker Park Winter Farmers Market
Chicago farmers market season is well past its peak, but you can still get in on the fresh produce action during this winter edition of the Wicker Park market, which is popping up inside The Robey on the first and third Sundays from December through April. Browse goods from local vendors like Zeitlin Bagels, Chitiva and Frogtown Juice—and you can always grab a coffee from Cafe Robey to sip on while you stock up.
Compass Real Estate is a Licensed Real Estate Broker with a principal office in New York, NY and abides by all applicable equal housing opportunity laws. All material presented herein is intended for informational purposes only, is compiled from sources deemed reliable but is subject to errors, omissions, and changes without notice. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.