Contemporary 2-Bedroom Penthouse Now $39K Under 2008 Price: 919 N. Wolcott in West Town
We last chattered about this 2-bedroom penthouse at 919 N. Wolcott in West Town in December 2010.
See our prior chatter here.
On the market since August 2010, it has been reduced $50,000 in that time.
It is now listed $39,500 under the 2008 purchase price.
The unit has been converted from a 3-bedroom to a 2-bedroom but it also has two outdoor spaces including a private 9×15 terrace off the master bedroom and a large 11×26 terrace off the great room.
It also has a top of the line Arclinea kitchen with Miele and Gaggeneu appliances. The massive kitchen island also has a modern stainless steel counter top.
There is central air, an in-unit washer/dryer and parking.
Interestingly, we’ve chattered about this building before and specifically about the “sister” penthouse, Unit #301. It had similar luxury finishes.
That unit sold in May 2010 for $675,000.
Given what’s happened to the Chicago housing market in just the last year, what will this ultimately sell for?
Robert John Anderson at Baird & Warner still has the listing. See the pictures here.
Unit #302: 2 bedrooms, 2 baths, 2 car parking
- Sold in March 2004 for $430,000
- Sold in July 2008 for $707,500 (included the parking)
- Originally listed in August 2010 for $700,000
- Reduced
- Was listed in December 2010 for $689,000 (plus $18,000 for parking)
- Reduced
- Currently listed for $650,000 (plus $18,000 for parking)
- Assessments of $284 a month (includes water)
- Taxes of $6959
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 14×14
- Bedroom #2: 10×12
- Family room: 10×11
I don’t like the bathrooms. They are depressing.
I love the style of this place and for the money, better location than the division street/hospital view from yesterday. Unfortuantely it looks like they are chasing the market down. I’d say $620 all in with parking.
I like the place, not really the ideal location for me however
We are down 13% YOY. Under $600K.
I’d need to be sold on the neighborhood. No el, no parks, no lake, no good schools, Division is your closest strip of stores/restaurants/etc. Why spend your money here?
Love it! Not sure I could put 650K into this location though–I do love the location but not sure if I would like it for the next 5-7 years.
Wait a minute – even if this is a bad neighborhood, the place seems pretty nice for 39k.
The neighborhood is fun. Good local bars Bar Deville, Cleo’s, Inner-town, Rainbo, Division has shopping and Chicago Avenue is coming along nicely. I would like to live there for a year or two, then I would get restless.
its not a bad neighborhood clio, just different than a typical yuppie green zone
I hear High-Dive is going to start doing live music shows now that they have expanded.
With this location, the purchase price seems high to me given the finishes. Maybe it’s doable around $625k with parking but I’m not sure it gets a buyer above around $575k in this market.
I like the modern units; West Town is one of a handful of neighborhoods where modern is done right and doesn’t look out of place. West Town also has enough of the ‘hipness’ factor to it to pull off the modern.
I didn’t realize Osama Bin Laden’s architect also designed buildings in Chicago.
Great looking space – I do like the “modern” units also. Considering Chicago’s rich architectural history – it does seem this section of town is really one of the only places to find contemporary, relatively new modern design. I spent the last 3 months looking at a lot of similar styles in this very neigborhood – 879 n marshfield specifically – great look and finshes. My budget kept me in the middle of the three flat walk up range though – and had a hard time finding anyting without someone living directly above me – deal breaker for me.
For the space, yeah – you are paying a premium for the finishes, especially in this part of town – but for the right buyers – who like this style it’s a great part of town.
Wish I could afford this place for a few years.
“I didn’t realize Osama Bin Laden’s architect also designed buildings in Chicago.”
Place liek this would set you back $1mm in Abbottabad. This must be a screaming deal.
Wow, quite an increase between the 2004 and 2008 sale prices. Even during the boom, making 65% in four years is pretty good. Unfortunately, I think that 2008 buyer may have overpaid and is in for a rude awakening. Converting to a 2 bedroom may have been a mistake, but maybe that’s easily undone.
Redfin doesn’t have the full sales history for the “sister” penthouse, but I’d be curious to see the original purchase price for the 2004 buyer shown by CCRD.
It better include the parking, because you’ll be driving everywhere. The transit access on this one is terrible, but the unit itself is gorgeous.
I think this is going to be heading towards the 2004 price. Its a cool unit, but what are the comps for this place in this hood? If its 1500 sf, I’d say $475K with parking… which reflects a $125K bump for “coolness” factor.
Could differential between the 2004 and 2008 prices have to do with the possibility that the building was converted to its present state after 2004?
Know this ‘hood fairly well, and your best options for public transportation are buses (Chicago, Damen), which isn’t great. And while the seen on Division is OK (Damen’s scene is constantly in flux), we wished that there had been a big park nearby (closer than WP). But I think this place has an audience, even if it is a small one. That audience will get larger as the price falls, obviously.
I think the sister residence might have been sold with the (very nice) furnishings. I believe there was an offer to do so in the listing. I’d do what I could to find that out before I made an offer on this place.
I like the Division street unit better but this location is acceptable for my needs.
Wow…I think I might have found the craziest house of all times:
http://www.redfin.com/IL/Chicago/1738-N-Winchester-Ave-60622/home/13354962
miumiu: we chattered about that house a year or two ago (can’t remember when.)
Okay- just found it.
Here it is:
http://cribchatter.com/?p=9239
lol…loved the comments. I think it is a short sale now which is a good sign for humanity : )
hahaha oh that listing, comic gold I tells ya