Will the Stock Market Sell Off Stall the Chicago Luxury Market? 2018 N. Dayton in Lincoln Park
This luxury single family new construction home at 2018 N. Dayton in Lincoln Park came on the market in September 2015.
We last chattered about it, and its sister property right next door, in November 2015. See our chatter here.
Nearly 3 months later, 2018 N. Dayton is still on the market and priced at the same price of $3.45 million. It appears that 2020 N. Dayton has been withdrawn from the market.
The house has 6-bedrooms and 5.5 baths with 5200 square feet and is being built by Foster Design.
It is being built on the standard Chicago lot of 25×125 so it has only a 2.5 car garage.
The listing says it will have a Chef’s grade kitchen and quarter-sawn oak floors.
The master suite will have a spa bath with rain showers.
There’s a top floor den with skylights and a retractable door that opens to a 35 foot lanai.
The house also will have 6 Sony high definition tvs with new Apple TV installed.
The house is near the shops/restaurants of Armitage but is west of Halsted, which some on this blog have called not the “real” Lincoln Park.
Since November, the number of properties in the $2.5 million to $4 million price range in Lincoln Park has dropped from 52 to 38 but the spring selling season hasn’t yet started. Many properties went off the market for the holidays.
In some other cities, like New York, realtors are saying that the upper bracket market has softened.
Will the stock market weakness impact the luxury market in Chicago?
Or is the luxury bracket really in a world all its own?
Daniel Glick at @Properties still has the listing. You can see the pictures here.
2018 N. Dayton: 6 bedrooms, 5.5 baths, 5200 square feet, 2.5 car garage
- Originally listed in September 2015
- Was listed in November 2015 for $3.45 million
- Currently still listed at $3.45 million
- Taxes are “new”
- Central Air
- Bedroom #1: 19×15 (second floor)
- Bedroom #2: 13×12 (second floor)
- Bedroom #3: 12×11 (second floor)
- Bedroom #4: 19×10 (lower level)
- Bedroom #5: 12×11 (lower level)
- Bedroom #6: 14×10 (third floor)
“The house also will have 6 Sony high definition tvs with new Apple TV installed.”
Apple TV blows, Roku much better
“The house is near the shops/restaurants of Armitage but is west of Halsted, which some on this blog have called not the “real” Lincoln Park.”
I guess DePaul University needs to change all their recruiting materials that list a Lincoln Park campus
On the redfin page, the following property is given as a similar home. I really like it (minus some terrible paint job here and there):
https://www.redfin.com/IL/Chicago/2214-N-Bissell-St-60614/home/13352867
miumiu – and the fact that it is against the el tracks
ahh Dayton ave. The street of McMansions 3.0, all of them a square as possible with just the bare minimum facade detail as possible to make the 2.5-4mil price tag not sting as much.
All are over done interiors done in a bland pallet to appeal to everyone. all have a 4th floor deck with a fish bowl wet bar thingy on top. whatever facade material used will not be the same as the sides an back. even the garage will be different material, but you wont notice as you wont have a yard as the back will just connect to the gator deck that has a outdoor fireplace to separate the spaces.
for 2.5-4mil wouldn’t a buyer want some kind of uniqueness or pizzazz to say hey i just dropped 4mil and i am my own individual?
“The house also will have 6 Sony high definition tvs with new Apple TV installed.”
“Apple TV blows, Roku much better”
Do people care about the Sony tv brand these days?
What’s wrong w apple tv? gotta just get in the walled garden, pay apple a bunch o money, and stop worrying.
That one on Bissell is amazing and 1.8 million less than the featured property.
I think it’s ridiculous to install all of those TVs. Who in this price range has time to sit around and watch TV?
Secondly, I would have gone with these TVs, if any at all: http://www.lg.com/us/tvs/lg-OLED77G6P-oled-4k-tv
Sony’s XBR TV’s are pretty nice but in this day and age its difficult to tell the difference between most high end TV’s
Mortgage rates on 30 year fixed @ 3.625% today
they have been steadily dropping this year
4k TV is pretty useless now as there is very little source content in 4k for TV, and none through cable providers, and none of the networks are using it. Only very certain streaming movies, shows and such, then you need the data plan to stream it.
I mean cable providers don’t even do 1080p yet… highest they do is 1080i that I have seen. punk asses!
Those LG screens are really beautiful and I can’t think you can buy a non-4k TV these days.
can’t = don’t
It took me two seconds to find an LG OLED 1080p 55″ TV
they are about half the price of the 4k TV’s
http://www.amazon.com/s/ref=sr_nr_p_n_feature_keywords_1?fst=as%3Aoff&rh=n%3A172659%2Ck%3ALG+OLed+tv%2Cp_n_feature_keywords_three_browse-bin%3A7688789011&keywords=LG+OLed+tv&ie=UTF8&qid=1454426398&rnid=7688787011
cool…just pay $3.4million for the 6 TVs and the house is FREE! Honestly, I don’t know why anyone would buy this for $3.4 Million. There are plenty of old (with newly gut rehabbed interiors) similarly sized properties in more desirable areas near the lake (like the Gold Coast) that are selling for about the $3-4MM range as well.
“There are plenty of old (with newly gut rehabbed interiors) similarly sized properties in more desirable areas near the lake (like the Gold Coast) that are selling for about the $3-4MM range as well.”
And those will typically have substantially lower tax bills, too.
“There are plenty of old (with newly gut rehabbed interiors) similarly sized properties in more desirable areas near the lake (like the Gold Coast) that are selling for about the $3-4MM range as well.”
Anyone know why this is the case? This place looks great – no parking though.
https://www.redfin.com/IL/Chicago/1224-N-Astor-St-60610/home/14125049
Also – that Bissell place is on the El tracks. No way would I live there.
The featured property is gorgeous! It makes that Bissell property look like a toilet by way of comparison. You guys just like to complain about properties you could never afford. Grow up.
“Anyone know why this is the case?”
It is partly bc of the property categories for assessment purposes, for properties the assessor thinks are under 5,000 sf–the tipping point is 62 years old–don’t know why 62, tho.
“TRIM MADE OF REAL POPLAR”
I would expect them to avoid MDF in a $3.5m house.
This is *almost* like the $2m house that noted the use of cement board behind tile in the bathrooms. OMG–using standard construction materials is worth noting in a $2m house!!
Steve – you are right. I’d never afford these homes. But you are not correct in your opinion of Bissell being a toilet. Miumiu and yoss presented two good alternatives. Given the choices presented I’d take Bisell as it is on a double lot and sure looks stately, grand, and very traditional Chicago from the outside. And that look is far harder to create or change. Groove had that right on the money.
Although the inside look is not my look with over $1M to adjust to my tastes I’d be ok.
Astor has an incredible location and also the character that makes it look like it belongs on that lot. That no garage issue is a problem that won’t go away. Although with the extra savings on the purchase price perhaps you could “walk to places” or have an Uber Select on call sitting out front night and day awaiting your need.
“Home James”
wait…. just saw the el tracks behind the house. That is a deal breaker. Lived on the el for years and did not mind too much but I was OVER the el tracks by 50 feet and the sound dissipated considerably.
Being in the back of this home would be tough.
Think they screwed the pooch staining the HWFs & Trim, otherwise the house is really, really nice
Dont think Dan would hang with the owners
“Astor has an incredible location and also the character that makes it look like it belongs on that lot. That no garage issue is a problem that won’t go away. Although with the extra savings on the purchase price perhaps you could “walk to places” or have an Uber Select on call sitting out front night and day awaiting your need.”
There are parking garages w/in 1 block that you can rent or buy a parking spot at. That’s what I do.
“This is *almost* like the $2m house that noted the use of cement board behind tile in the bathrooms. OMG–using standard construction materials is worth noting in a $2m house!!”
Its even worse when the mention they only used cement board behind the tile in the bathroom.
your supposed to use green board in bathrooms!
“screwed the pooch staining the HWFs & Trim”
Bissell house?
Kitchen is funky–where is refrigerator?
“Its even worse when the mention they only used cement board behind the tile in the bathroom.”
I looked at it again–“cement board on all walls receiving tile or stone in wet environments”–so, *not* cement board where it’s not absolutely needed. Whoop-d-doo!
“There are parking garages w/in 1 block that you can rent or buy a parking spot at. That’s what I do.”
The Astor place looks like a family home. Very hard to sell someone on walking a block in the dead of winter with 2 kids. There is a price it becomes worth it though. Guessing that price is $2.5mm for what would probably be a $3mm home if it had parking.
that would be funny if all listings listed something random about the construction like;
*constructed second floor above first floor
*stairs we made as to access the basement
*Nail gun used to frame kitchen, hammer used to frame 3rd bedroom closet
*monks were used to thwart away any spirits in main level powder room.
*creepy wicca(sp) teenager from down the block used for master bath room spirits.
“your supposed to use green board in bathrooms!”
YOU’RE also supposed to use apostrophes in contractions.
Steve’s comment is the only one in the thread without a thumbsdown. Hmmmm.
“YOU’RE also supposed to use apostrophes in contractions.”
Icky, have i been gone that long for you to forget my obscene punctuation and grammatical errors that i will never proof read nor care if it makes me look like i took the shortest of short buses to work?
“4th floor deck with a fish bowl wet bar thingy”
They should put a small kitchenette with 2 gas burners and sink up there. I was in Italy once where they had the kitchenette on the bedroom level, you know how those Italians need to brew their coffee, and they use these things: https://en.wikipedia.org/wiki/Moka_pot
Groove: that was a spot on post. Nailed it perfect. “for 2.5-4mil wouldn’t a buyer want some kind of uniqueness or pizzazz to say hey i just dropped 4mil and i am my own individual?”
Some architect needs to get the kitchen out of the dark zone in the middle of the first floor. No light, no real windows. They should put it in the rear?
Anon – it has the feel of a Reddit downvote brigade. Except unlike Reddit, comments won’t get hidden if downvoted enough.
Almost as if someone hired an astroturfer to discredit people commenting about this property.
“There are plenty of old (with newly gut rehabbed interiors) similarly sized properties in more desirable areas near the lake (like the Gold Coast) that are selling for about the $3-4MM range as well.”
People want new. They don’t want to deal with old wiring or home maintenance. It will be years before you will have to do any serious maintenance to the outside of this house.
The new construction homes also have the open floor plan that most buyers want these days. Older, vintage homes are usually more chopped up, even after being renovated. Newer homes also usually have larger bathrooms and more closets which most buyers want.
“The new construction homes also have the open floor plan that most buyers want these days.
The walls on my main floor were not structural, so we took them out. Now it’s one big open floor plan with no posts, beams or other features to break up the flow. It’s great, open floor plan is a great way to live, as long as the den and office are separate.
“screwed the pooch staining the HWFs & Trim”
Bissell house?
Yep
“Now it’s one big open floor plan with no posts, beams or other features to break up the flow.”
If you consider a double-wide “big”, I guess.
People don’t want new if it means being ripped off and compromising quality, and new typically makes you choose between those two options AT BEST.
Give me an unstaged, fairly-priced place any day.
“CASINGS, MOLDING & TRIM MADE OF REAL POPLAR”
Poplar is the cheapest of all the trim woods. Even pine is more expensive, especially clear pine with no knots. This home should have maple or oak trim with a white lacquer finish.
This would give me a serious pause about the builder’s quality choices. I don’t mind having to replace low quality cabinets, fixtures, and appliances. But trim is too hard to replace without badly damaging all the walls.