3-Bedroom Ukrainian Village Authentic Loft Reduces 6%: 612 N. Oakley
We last chattered about this 3-bedroom duplex up loft in The Village Lofts at 612 N. Oakley in the Ukrainian Village neighborhood of West Town in May 2012.
See our prior chatter here.
(And yes, all we did was argue about what sub-neighborhood of West Town it is.)
If you recall, it has exposed brick and timber ceilings in about 1950 square feet.
There are two bedrooms and two baths on the main floor along with the main living area.
A steel staircase takes you to the second floor where a master suite and a 25 foot landscaped west facing terrace awaits.
The kitchen has maple cabinets and stainless steel appliances.
The loft has the other features buyers look for including central air, in-unit washer/dryer and parking.
Last May, we were wondering how hot this neighborhood would be this spring (and especially among lofts.)
Is this reduced price now more realistic for the neighborhood?
Jordan Chalmers at Baird & Warner still has the listing. See more pictures here.
Unit #207: 3 bedrooms, 3 baths, duplex up, (I’ve been told it’s about 1950 square feet)
- Sold in June 1999 for $260,000
- Sold in December 2001 for $350,000
- Was listed in May 2012 for $475,000 (parking included)
- Reduced
- Currently listed for $448,000 (parking included)
- Assessments of $362 a month
- Taxes of $5828
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 21×13 (second floor)
- Bedroom #2: 25×10 (main floor)
- Bedroom #3: 12×11 (main floor)
I just think this is priced too high for most of the poor people that are looking to move to this area. If you have that much money, you will probably move to a better part of town or the burbs.
Speaking of all those poor people looking to move to this area, was surprised to see all the new construction SFs around here going for $800-900.
There are a ton of them– 650 Oakley, 658 Oakley, a couple on the 2300 block of erie, more over on huron.
Higher prices than some of the recent sales right in the heart of Wicker, which blows my mind.
Lesko – In your opinion should everyone with a job and $20 in their pocket move to Cary, IL? Apparently it must be the perfect place for all to aspire to live. Not everyone likes your definition of what is a great neighborhood.
I have a friend that did a lot of business in Russia back in the late 90’s. He used to travel there a few times a year and one of the funny things he pointed out was that many successful people had houses in ok neighborhoods that looked like crap on the outside. When you went into the door the insides were museum quality spectacular finishes and furniture. Point is that looks can be deceiving. Also some people grew up in an area, still feel connected to it, and want to stay. They will often support the purchase of a nicer place in the immediate area. In the end someone has to have the most expensive home on each block. Not my or your choice however it is reality.
BTW Sabrina – Where is the Groove? After looking at the previous postings I thought that this was a trap to get him back online. Hopefully he is just on vacation this week!
@jp3chicago I have a friend that did a lot of business in Russia back in the late 90?s. He used to travel there a few times a year and one of the funny things he pointed out was that many successful people had houses in ok neighborhoods that looked like crap on the outside. When you went into the door the insides were museum quality spectacular finishes and furniture
Our current place looks like it should be condemned from the outside. Inside it’s all brand, spanking new. Keeps the taxes low.
I think I am a bit obsessed with loft spaces now, and rather like this space, even at the price. Someone shake some sense into me…
This is way overpriced for today’s market. They are crazy. If it sells it will go to somebody from New York in a hurry to seal a deal who is used to higher prices and doesn’t realize how overpriced this is. Good luck to the seller! Everyone keeps trying to fight the market changes, pricing things as if nothing ever happened. But the reality is that things are listed for 2x what they end up selling for.You can be hopeful, maybe get lucky, but sales comps and listings look dramatically different today. When I was looking for a property a year ago, I learned to ignore all listed prices, and only reference sales comps of similar properties. Anyone looking should do the same.