Lakeview Duplex Down Goes from Housing Bust to Hot Home: 3816 N. Fremont

3816 n fremont #1

This 4-bedroom duplex down a greystone at 3816 N. Fremont in Lakeview just came on the market.

Built in 1901, it has 4 units.

Some of you may remember it from the housing bust years of 2008 and 2009 as we chattered about it several times.

It took 14 months to finally sell in 2009 and it sold for less than the 2007 purchase price.

We got into a spirited discussion of how much the seller “lost” and some actually compared it to owning bank stocks. Those were the days.

See our chatter here.

This greystone was renovated in 2007.

The listing says it has a “gourmet” kitchen with cherry cabinets, granite counter tops and luxury appliances including Wolf, Bosch and Subzero.

Two of the 4 bedrooms are on the main level, including the master suite, with two other bedrooms in the lower level.

This unit was a 3-bedroom when we last chattered about it but it looks like one of the rooms in the lower level is now being called a bedroom even though it appears, from the floor plan, not to have a closet.

There’s a lower level family room and two gas fireplaces.

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

There’s also a private roof deck on top of the garage.

This unit has sold twice more since our 2009 chatter. Both of those were still under the 2007 sales price.

It is now priced at $799,000. If it gets it, it will be the highest sale in 10 years.

Redfin calls this a “hot home.”

Are new record highs on tap this year for most of the GreenZone?

3816 n fremont #2

Ron Knoll at @Properties has the listing. See the pictures and floor plan here.

Unit #1: 4 bedrooms, 3 baths, duplex down, no square footage listed

  • Sold in June 2007 for $717,500
  • Originally listed in February 2008 for $775,000
  • Reduced several times
  • Was listed in July 2008 for $738,900 (parking included)
  • Reduced
  • Was listed in January 2009 at $729,000 (parking included)
  • Sold in April 2009 for $700,000 (parking included)
  • Sold in June 2012 for $629,000
  • Sold in March 2014 for $635,000
  • Currently listed for $799,000 (parking included)
  • Assessments are now $250 a month (they were $154 a month in 2009) – includes exterior maintenance, scavenger and snow removal
  • Taxes are now $11,636
  • Central Air
  • Washer/Dryer in the unit
  • 2 gas fireplaces
  • Private deck on the garage: 20×16
  • Bedroom #1: 14×14 (main level)
  • Bedroom #2: 10×10 (main level)
  • Bedroom #3: 16×12 (lower level)
  • Bedroom #4: 14×9 (lower level)

12 Responses to “Lakeview Duplex Down Goes from Housing Bust to Hot Home: 3816 N. Fremont”

  1. Sad what they did to this place, piggybacking that atrocious addition on top. All class and no class, juxtaposed.

    Redfin “hot home” doesn’t mean a whole lot in my first hand experience with Redfin. But it appears to be a nice place with a good layout (except deck access through the MBR only) and I think it will sell within a reasonable timeframe.

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  2. Are you suggesting your firsthand/subjective experience is more accurate than cold hard data? Redfin “Hot home” is a data driven statistic. As time goes on it’ll only become more accurate. Redfin is dusting legacy real estate companies with its data driven approach.

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  3. Why does no one seem to live in here for very long?

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  4. I’m suggesting that anyone who thinks hot home status will lead to a quick sale (or even an offer of any kind) is a fool. Sure it’s better to be “hot” than not but ultimately it means little.

    Redfin may have a data-driven approach but that is just one aspect of their offering and they haven’t figured out everything to the point they are “dusting” anyone IMO. The potential is there for that to happen, certainly, but much of that potential is as yet unfulfilled.

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  5. “Why does no one seem to live in here for very long?”

    Because people soon realize it is a pain to raise children in the city.

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  6. “Walking distance to everything Wrigley Field has to offer!”

    Did they mean “Wrigleyville”??

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  7. “Why does no one seem to live in here for very long?”

    I don’t know. I wondered the same thing.

    Noise? Need more space?

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  8. “Because people soon realize it is a pain to raise children in the city.”

    If this was so, you would see people selling ALL of the Lakeview duplex downs every 2 to 3 years – and not just this one.

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  9. “Why does no one seem to live in here for very long?”

    Some of that NE corner of Lakeview feels more like south Uptown. Greeley is decent, but not perceived to be on the same level as other LV schools.

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  10. Sabrina, not every property is going to turn over every two or three years, but there is a reason that practically every condo listing seems to have a crib in a bedroom. Duplex downs may have a little more shelf life with children, but people still typically will move.

    Some places do seem to turnover frequently, but it would be difficult to ascertain why outside of the normal reasons people move – jobs, children, space, divorces, etc. It could just be the randomness of the market.

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  11. “Sabrina, not every property is going to turn over every two or three years, but there is a reason that practically every condo listing seems to have a crib in a bedroom. Duplex downs may have a little more shelf life with children, but people still typically will move.”

    I get it Russ. I’ve been running this site for nearly 10 years now. I’ve seen more than enough cribs in the second bedroom of condos.

    BUT- if that was true (that as soon as they have a kid they move) then there would not be overcrowding at Ogden, Blaine, Lincoln etc. Also, just given the demographics in, say, Lakeview, there would be MASSIVE inventory on the market in that neighborhood with literally thousands attempting to move nearly every year. And yet- it’s not happening. Not even close.

    So- while SOME people who have kids do end up wanting to move on from the condo life- Millennials aren’t GenX or Baby Boomers. Many don’t care about the house in the suburbs. Schools are important but many city schools are now of a quality that they’re willing to stay (at least through 8th grade.)

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  12. Ogden isn’t overcrowded anymore. It’s got a couple empty classrooms since it lost its 1 plus standing. Plus the principal has issues so a lot of people left.

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