Looking for a $147,000 Gain Just 3 Months Later in the Gold Coast: 1241 N. Dearborn Parkway

1241 n dearborn

This 3-bedroom at 1241 N. Dearborn Parkway in the Gold Coast just came on the market.

But if it looks familiar, that’s because it recently sold at the end of May.

The new listing says it has been “totally remodeled” but doesn’t say what was done.

The unit has dark hardwood floors and a stone surround on the wood burning fireplace.

The kitchen has white cabinets, stainless steel appliances and granite counter tops.

This building was built around 1980 and has 5 units. There is a private elevator that opens into each unit.

It has central air, washer/dryer in the unit and garage parking.

The unit is listed for $147,000 more than the May 2015 sale.

Last May it sold within just 1 month.

Will this remodeled version sell just as quickly?

Julie Yurov at Richter Realty Group has the listing. See the pictures here.

You can also check out the prior listing pictures here if you want to check out the remodel.

Unit #4: 3 bedrooms, 2 baths, 1800 square feet

  • Sold in April 1998 for $289,000
  • Sold in November 2003 for $500,000
  • Sold in May 2015 for $522,000
  • Currently listed for $669,000
  • Assessments of $500 a month (includes water, exterior maintenance)
  • Taxes of $9868
  • Central Air
  • Washer/Dryer in the unit
  • Wood burning fireplace
  • Bedroom #1: 13×15
  • Bedroom #2: 10×12
  • Bedroom #3: 10×12

 

 

24 Responses to “Looking for a $147,000 Gain Just 3 Months Later in the Gold Coast: 1241 N. Dearborn Parkway”

  1. suck all the character out = big profits?

    OK so they ruined the nice natural wood window frames in the living room by painting them, doh!

    Darkened some pretty nice floors too… if you’re gonna do that why not just stain the window frames that dark stain too? meh whatever

    Kitchen is the same

    put ugly white stone around fireplace, remove nice built-ins and ugly dining table light.

    Paint all trim everywhere white :(

    Install maybe 2k of closets and new doors

    home depot special the bathrooms

    They could have made this place cool but obviosuly is a pretty standard fliparoo

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  2. 2003 buyer paid too much.

    The rehab is based on 2011-2012 tastes. Espresso will one day be out again, and then this place will look dark & dated. Isn’t the world already into lighter colored walnut?

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  3. Yes I believe that the ‘gray’ish color is whats in now?

    Like this

    http://www.reescustomfloors.com/images/wood/oakfloorgrey.jpg

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  4. Light wood floors, almost bleached, not yellowy, are already very popular on both coasts. It’s only a matter of time before dark is out in the midwest.

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  5. “Kitchen is the same”

    well they removed some cabinets and pushed back the wall next to the microwave to add some more breakfast bar. also added some horrible looking recessed lights over the new breakfast bar. none of which was really necessary and adds no value.

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  6. For $669,000, there should be better photos.

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  7. Pretty much worse all around. The cans over the kitchen counter are the only change with any personality, and I’m on the fence about them.

    Ruined the character of the floors. Cheaped the hell out of the fireplace. I didn’t love the old built-ins, but taking them out definitely isn’t a value add, just limits new buyer options.

    People still pay for dark wood floors, but they’ve been out of style world for 4-5 years. It’s only a matter of time before they become what diagonal floors are today.

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  8. That kitchen doesn’t match the unit price, you usually see those finishes in a 200k foreclosure flip in the burbs somewhere. Division street isn’t much classier than Wrigleyville on weekend nights but it might be far enough away to avoid the public urination and drunk fights.

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  9. “Light wood floors, almost bleached, not yellowy, are already very popular on both coasts.”

    It’s back to 1990! That’s the last time those nearly white wood floors were “in.” White kitchens were also in back then.

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  10. “Paint all trim everywhere white”

    This building was built around 1980. Do you care that they painted the trim? Really???

    By the way- painted trim, even in vintage units, really lightens the look of a house. It’s such a myth that you shouldn’t paint the trim. I was at a meeting on color and paint with design industry professionals a few months ago and they all laughed at the part about keeping the trim and NOT painting it. Same with brick. If you want to paint it, just do it. It looks SO much better. It can change the entire feel of a property.

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    Rating: +3 (from 5 votes)
  11. “Division street isn’t much classier than Wrigleyville on weekend nights but it might be far enough away to avoid the public urination and drunk fights.”

    There’s a new, luxury condo tower going up on State that is closer to Division than this unit is (which is several blocks north of Division, by the way.) That hasn’t stopped anyone from buying those condos for a very hefty price tag. I don’t really think Division is even a factor for any of these buyers.

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  12. I thought it was just me! Do not like the renovation and the pics are terrible. At that price point, you should have excellent photos (at any point actually — but especially this one!).

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  13. I am with Sabrina on this. Sometimes painting the trims helps.

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  14. I think this property will sell easily for a hefty $147,000 profit. Then in another three months the new buyer can sell it again for perhaps a $250,000 profit. At this rate we will all be rich. WE ARE ALL GOING TO BE RICH.

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  15. Hubbard St. is the new Division/State.

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  16. “this unit is (which is several blocks north of Division, by the way.)”

    Um, NO. You don’t even have to cross an alley to get to Division from here. This is on the same side of the same block as Mothers and Butch’s.

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  17. “Hubbard St. is the new Division/State.”

    yep, clark-dearborn & hubbard

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  18. Here’s a standard for photo selection: if someone other than the realtor/owner looks at a photo and says “WTF”, it’s probably not a good photo to use in the listing.

    There are far too many WTF photos in this listing.

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  19. “Um, NO. You don’t even have to cross an alley to get to Division from here. This is on the same side of the same block as Mothers and Butch’s.”

    You’re right anon(tfo). I was thinking of a different property further north up Division.

    But the new luxury high rise at State and Elm is probably still closer. And people are paying millions to have a unit there. So, again, I don’t think many buyers are bothered by Division.

    It seems to really be improving now that the El stop is being renovated and that Jewel is gone (soon to be replaced by a high rise.)

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  20. “Jewel is gone (soon to be replaced by a high rise…”

    And a new Jewel.

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  21. Division between Ashland & Damen is the new Division/State re being party central for 20 somethings, particularly recent college grads. Imo the demo’s of those eating and drinking on Hubbard, Clark & Dearborn skews wealthier & older as establishments there don’t offer $2 PBR or $1 tacos

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  22. “Division between Ashland & Damen is the new Division/State re being party central for 20 somethings,”

    Division/State hasn’t been “party central” for younger Chicagoans for 20 years. It’s heyday was in the 1980s when they made About Last Night and most other city neighborhoods were too scary to “party” in.

    The only people who go there now are suburbanites (for some reason). And maybe older tourists.

    The Ashland/Damen Division area actually IS Chicagoans. Very, very different animal. No one from Northfield is going to be at on Division in Wicker Park. They wouldn’t even know where it was. But they DO know the Viagra triangle area- which includes Division/State.

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  23. “And a new Jewel.”

    Yes- on the bottom floor. And…your point is????

    Thank goodness they are tearing down the old one. This will be a huge improvement and really help this neighborhood.

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  24. Closed for $627,500

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