Looking for a Move-In Ready 2/2 in Lakeview Under $220K? 3930 N. Pine Grove
This 2-bedroom in Lake Park Plaza at 3930 N. Pine Grove in Lakeview was recently reduced $5,100.
It is currently listed $36,100 under the 2006 purchase price.
The building is a full-service high rise constructed in 1969.
It has a pool, tennis courts, party room, doorman, and exercise facilities.
The listing says this unit has recently been renovated.
The kitchen has granite counter tops, stainless steel appliances and a tile back splash with marble flooring.
The bathrooms have also been upgraded.
While there is central air, there is no washer/dryer in the unit. It appears that parking is available to rent in the building.
While there are cheaper 2/2s available in the building, none are as renovated as this one.
Is this a deal?
Mark Jak at Baird & Warner has the listing. See the pictures here.
Unit #501: 2 bedrooms, 2 baths, 1375 square feet
- Sold in August 1990 for $100,000
- Sold in December 2004 for $195,000
- Sold in April 2006 for $256,000
- Originally listed in February 2011 for $225,000
- Reduced
- Currently listed for $219,900
- Assessments of $813 a month (includes a/c, cable, pool, doorman, party room, tennis courts)
- Taxes of $3790
- Central Air
- No in-unit washer/dryer
- Rental parking available
- Bedroom #1: 17×12
- Bedroom #2: 14×11
Now here is a good deal for the money. You might quibble over $10,000 or so, but it is OK for the price. Good building, spacious, upgraded, lots of amenities including pool, and good location.
Taxes seem a little high.
You have to pay extra assessments to use the pool in this building. If you don’t pay you can only use the sundeck. They actually hired someone to monitor the pool usage and not allow those who haven’t paid to use the pool. Don’t even try to stick a toe in!!
I think anyone can rent a cabana at this pool for the summer (some friends had one a few summers ago), so it is not only for residents. Might get really busy.
Or….. I may be thinking of the building across the street. Nevermind.
I would never want to live in a place like this!
Does this unit have any windows? The realtor cleverly managed to not show them, making the living room look like a cave. The listing says a balcony, but no picture so the view must be really grim.
A nice unit and good price for a 2/2 but as a buyer looking for something in this price range, I couldn’t swallow dropping $800+ month on assessments
T.S. Those cabana’s you spoke of are located at the building next door (655 W. Irving Park Rd) There are no cabanas at this building. While there is a separate pool charge it is designed that way so that unit owners who do not use the pool do not have to pay for the cost of such an expensive amenity. It was not that expensive. The person “watching” was also a lifeguard which also helped keep the insurance risks down.
Those assesments seem high but the unit space is good. The “01” tier is basically a pie shaped unit that is located on the west side of the building. The living room is the wide end of the pie and faces mostly north and north east. I’d say that floors 10 and higher have an excellent view of the lake and Montrose harbor. The other end or point side of the pie is the master bedroom. It has a small balcony that overlooks the pool. Again the higher floors have an excellent view of Wrigley and the downtown buildings.
It was considered a premium unit when I lived in the building many years ago. The building was made up of 40% long term older owners, 25% young first timer buyers, around 15% that created nice spaces with multiple unit conversions, and around 20% were renters. The building had an interesting combination of residents. There was a fair percentage of young male residents that were attracted to the area because of the neighborhood and a good number of students renting cheap housing by the lake.
Overall it was a nice place to live, had an excellent board of directors, and a well funded reserve.
I like. Trouble is if youre looking for a 2/2 under $220k, you’re probably not looking to drop $813/mo on assessments. The building amenities here rock, but worth it?
Some will object that the parking at 3930 was rental only. I recall that it was fairly cheap back in the day. Since I drove an SUV I could only park upstairs in the valet area. This meant that my car was never locked and that the parking crew was frequently moving it around. I threw the guys an occasional tip and paid them for the typical car wash deal. That meant that my car was ALWAYS right up front. It is amazing how far a few $$ and a bit of respect to the crew could impact things. Other residents complained that they lost toll change etc. I never had an issue!
When I moved in I was concerned and so I was put on a list to get a permanent spot upstairs. I was told that it would be years before I would get that chance. After being there for less than a year I was somehow moved mysteriously to the front of the list. It was more expensive and since I had never had an issue I turned them down.
Jim in the sloop
http://www.redfin.com/IL/Chicago/3930-N-Pine-Grove-Ave-60613/unit-2401/home/13380589
This is what the realtor should have shown as photos except that on the 5th floor you just do not have those views! I’d suggest that $50K is a big premium just for views but if you are going to live in a high rise why would you buy on a low floor. FOr 30K more it is a no brainer!
That place is way nicer!
The assessments are not terrible given that they include heat and air conditioning.
“I think anyone can rent a cabana at this pool for the summer…”
You can BUY a cabana at 655 W. Irving Park for $25K and some monthly assessments & taxes – http://www.rubloff.com/property/chicago/07538544.cfm – as the listing points out, however, you cannot LIVE in the cabana. What a shame, it would be really easy to turn that 14×7 into a nice place. If I were the agent on this one, I would have said “YES” to whether it is waterfront property.
That assessment is a killer at this price. Though the price is good. I wish my building had tennis courts.
I renember being in this building and feeling it sway, and being unswayed by the cheap rental apartment construction. Also, recalling tenant mix, prospective buyer should spend four hours on a weekend evening observing traffic through lobby to confirm whether this building is a good choice for purchase.
I’d recommend the “four hour sit” for most condo buildings in advance of “going under contract”, w/exception of very high-end buildings. For cheaper condo buildings, it’s mandatory due-diligence. Some doormen will sometimes give you a frank assessment, if you explain your interest, and appreciate a monetary tip.
My swaying building may have been 655 W Irving Park, but the advice stands.
It’s funny that everyone keeps confusing this building with 655 IPR. I was planning to post about getting stuck in the stairwell of this building and having to walk down 50 flights of stairs.
That actually happened at 655 W Irving Park, though.
And I sort of want to buy that cabana.
“The assessments are not terrible given that they include heat and air conditioning.”
That is true however I think you also have very little control of the temp. A friend in the building frequently has to open windows in the winter since the heat is too hot and has to wait for the building to switch over from air to heat. Big ‘ole boiler I guess.
You also have to bring pets in/out through service elevator…although I guess a lot of big buildings might require this.
I also want the cabana! If we do end up moving back downtown in a few months and it’s still available I could give it some serious consideration…
We actually chattered about one of the cabanas for sale in 655 W. Irving Park about 2 years ago.
http://cribchatter.com/?p=7016
Back then it was $42,000. Now they are $25,000. What a discount!
“That is true however I think you also have very little control of the temp. A friend in the building frequently has to open windows in the winter since the heat is too hot and has to wait for the building to switch over from air to heat. Big ‘ole boiler I guess”
The issue with the temps is that several units” face south/southwest with a wall of glass that gets hit by the sun all afternoon. I had an end unit (16 tier) that faced SW but it also had a window/balcony facing east. That helped regulate the temps in my unit perfectly. rarely used heat or air. If you are looking for a nice one bedroom in this area I highly suggest that you check out that tier.
While the assesment suggests that it includes heat/air it is a bit of a stretch. In order to heat and cool you need to use an electric fan. That ends up on your Com Ed bill each month.
I know this building quite well, being a friend of the widow of one of the original architects. It’s one of the best-managed buildings in the hi-rise corridor of Wrigleyville (having her living on the premises probably helps!). I have helped several people find homes here, always emphasizing not only the benefits of the building itself but also its proximity to the lake, golf course, bike path, public trans, and of course walking distance to Wrigley Field.
Wonder if there will be a resurgence of interest in condo- and house-buying in Lakeview if the Cubs are able to turn it around and have another longed-for winning season?
“Wonder if there will be a resurgence of interest in condo- and house-buying in Lakeview if the Cubs are able to turn it around and have another longed-for winning season?”
They’ve had winning seasons within the past few years, although not last year. They just can’t win in the playoffs.
I don’t think their performance has much of an affect. If they were to start some sort of winning dynasty (LOL) then yea maybe that would have an affect. But so would a meteorite hitting Lake Michigan and those probabilities are about even.
Did the “West Bullhawk Park” aka the area west of United Center( see my post on that west loop loft mansion) have an uptick during the Jordan era? How did that world series win help Bridgeport?
A cubs turnaround might help the rooftop owners and bars but not one bedroom condos half a mile away!
Actually, the Jordan era saw a lot of new housing in the neighborhood surrounding the United Center, as well as new commercial development in the former skid row section of Madison Street.
“if the Cubs are able to turn it around and have another longed-for winning season?”
LOL no
I’d call a bit of a stretch to say that the hood immediately next to the U.C. Vastly Improved. Sure there were some positive impacts but do any ticket holders actually linger in the immediate area. Not a chance! The West Loop (where I have called home since 2005 has improved dramatically since the Jordan era but I’d say that had little to do with the Bulls championships.
One big help for the area was in conjunction with the DNC back in 1995 or 1996(?). Daley cleaned up Madison and Washington Ave so that the people attending the convention did not see dilapidated buildings and vacant lots with garbage and other debris. Im told that was one of the sparks that ignited the developers in this hood.
Totally a personal thing, but I don’t care for highrises. And if I were to choose one, I’d be looking further downtown.
I completely agree with the comment that if you’re looking for a unit that is that low priced, then $800+ in assessments will be tough to swallow.