Want Vintage and “New”? A 2-Bedroom at 5000 S. East End in Kenwood

5000 s east end approved

This 2-bedroom in the vintage high rise at 5000 S. East End in Kenwood came on the market in April 2015.

5000 S. East End was built in 1927 and, until the 1960s, was the tallest building on the south side of the city.

Some of you might remember it from a few years ago when Crain’s reported that it was being converted to condos from co-ops.

We chattered about it here.

The conversion is complete so these are now condo units.

The listing says this unit has been completely renovated.

It has a new kitchen with dark cabinets, granite counter tops, stainless steel appliances and porcelain tile floors.

The two bathrooms are also new and one has a walk in shower.

It has dark hardwood floors, crown molding, French doors, archways and a decorative fireplace.

The unit has east/west views with views of the Lake.

It appears to have space pac cooling (although some of the other units in the building have central air) and washer/dryer in the unit.

The building also has an outdoor parking lot with assigned spaces for $120 a month.

Assessments are $1348 a month but include heat, water, gas, and cable, along with an exercise room.

Originally listed in April 2015 for $397,500, it has been reduced to $369,750.

Is the Kenwood neighborhood a good alternative for those looking for more space for their money?

Lauren Schreyer at Related Realty has the listing. See the pictures here.

Unit #22B: 2 bedrooms, 2 baths, 1600 square feet

  • Sold in June 2014 for $60,000
  • Originally listed for $397,500
  • Reduced
  • Currently listed for $369,750
  • Assessments of $1348 a month (includes heat, water, gas, cable, doorman, exercise room, exterior maintenance)
  • Taxes of $1925
  • Space Pac cooling(?)
  • Washer/Dryer in the unit
  • Assigned leased outdoor parking for $120 a month
  • Bedroom #1: 12×20
  • Bedroom #2: 15×16

 

8 Responses to “Want Vintage and “New”? A 2-Bedroom at 5000 S. East End in Kenwood”

  1. Thanks for posting a place in one of the Hyde Park-Kenwood area’s great vintage buildings, Sabrina. This neighborhood has some of the most beautiful vintage high rises in Chicago. The neighborhood also has the University of Chicago, a pretty lakefront, and a lot of cultural amenities. It’s beginning to grow on me.

    This is a gorgeous apartment in an elegant building, with nice upgrades, though it’s too bad it has been so extensively “clean-walled”. Nevertheless, it still retains its vintage character. It’s altogether a beautiful place.

    The HOA is high because of the high level of service, as well as the usual costs of running an older high rise, and maintaining a reasonable reserve. I’m surprised at the number of older buildings that maintain no significant reserve. When you see a old building, especially an old high rise, with low HOA payments, beware. Essential replacements and repairs have to be paid for somehow, and if it’s not in the reserve account, you have to levy a special, which can be a big nasty surprise.

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  2. No…South Kenwood (and Hyde Park) homes are expensive and Hyde Park/South Kenwood condo assessments often cost as much as a mortgage. The best alternative for those looking for more space for their money should look just north of 47th in North Kenwood. Love my ‘hood.

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  3. These old vintage units always feel and look larger than their listed square footage. They have foyers, massive dining rooms, bedrooms, etc. I’m wondering if the square footage on vintage units is more accurate than what is claimed on new construction places. I’ve seen new construction stuff that claims to be 1500 sqft with no dining room and feels half the size of this place.

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  4. “I’m wondering if the square footage on vintage units is more accurate than what is claimed on new construction places. I’ve seen new construction stuff that claims to be 1500 sqft with no dining room and feels half the size of this place.”

    Russ- this is a great point but I think part of the difference of the new v. old is just on how the square footage is laid out.

    New units have:

    1. Walk-in closets (take up a ton of space)
    2. Huge master “suites” with master bathrooms that have big soaking tubs, walk-in showers, double vanities and other wasted space that probably equals a foyer in vintage units
    3. Kitchens are usually “open” to the main living room with big kitchen islands (some which seat 4 to 5 people). These kitchens are much larger than vintage kitchens- sometimes half the size.

    To me- that’s where the square footage “goes” in newer units. Closets, big open kitchens and big bathrooms.

    I once saw a 2-bedroom Paris apartment on House Hunters International with a dining room which they said on the show was just 900 square feet. I was thinking, “how?”

    But they didn’t have closets (have armoires instead) and the kitchen was enclosed and in the back with smaller appliances. It was probably half the size of an “American” kitchen.

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  5. Sabrina, you are so right. Besides what you said, new places also have in unit laundry which takes up the space of a closet. Back in the vintage days, the housekeeper usually cooked and just served in the dining room. And even there wasn’t any housekeeper cooking, it just wasn’t the culture to have open kitchens. Frankly, I like being a little removed from everyone when I cook, but that is just me.

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  6. The conversion was a disaster* and I would still be leery of 5k EE until the association has sold off the units that they ended up with upon conversion and the building stabilizes after a couple years. I’m guessing this was one of the flips. I’ve been in a B unit on a lower and they are spacious and bright with two exposures and this is high up enough to have a decent view. There are a lot of nice people in the building and it hopefully will improve after a bit.

    *They paid off the building mortgage which had a massive pre-payment penalty that meant that they ended up with something like 14-15 units which were walked away from by owners who couldn’t pay the closing costs (reputedly 60k +). In addition they suffered from a revolving door of managers due to the board president (booted out in palace coup) who spent a lot of money just before the conversion and HP realtors steered buyers away because of her.

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  7. Laura Louzader on August 28th, 2015 at 8:20 am

    FG’s comment illustrates how important it is to do due diligence on the association you are buying into, and the issues a building has had over the years. Little items like $60,000 worth of closing costs, and issues with the association’s management, should be disclosed to prospective buyers before they make offers

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  8. Laura – the closing costs were only for the conversion, but you are correct that due diligence is needed for any building. Both the board and management company should be scrutinized carefully.

    An example: friends of mine were told when buying a condo that the building was well run and never did specials (6-flat). Turns out that as soon as they closed there was a small special – the previous owner of their unit had objected to them (the specials, not the buyers) mightily and as soon as the seller was gone, boom, a special! I actually have heard of a 40k special assessment on a six-flat for facade/exterior work – talk about poor planning. Granted, they did a great job and replaced copper with copper, etc, but that was poor planning (or objections to the “building holding my money” – I have a neighbor like that too).

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