Want New Construction in Southport? It’ll Cost You $3.695 Million: 3531 N. Janssen

3531 N Janssen #1

This 6-bedroom single family home at 3531 N. Janssen in Southport came on the market in May 2015.

This is a custom new construction home on an oversized Chicago lot measuring 37.5 x 125.

It has the layout most buyers prefer, with 4 out of the 6 bedrooms, including the master suite, on the second floor.

The master bathroom has stone heated floors and a steam shower.

The other two bedrooms are in the lower level along with the recreation room, media room, second laundry room, wet-bar and wine cellar.

The kitchen has white cabinets and a large island with stone counter tops. The listing says there’s a “professional appliance package.”

There’s also a family room on the main level with built-in bookcases.

The house has a heated 3-car attached garage.

It also has a raised terrace with outdoor fireplace.

This house was on the market for a year, between May 2015 and May 2016, before being withdrawn.

It came back on the market at the same price, $3.695 million, in September 2016 and is listed at that today.

Janssen has many vintage homes, including Victorians. And you can see the type of home that is next door to this one in the picture below.

This is a prime block in hot Southport.

How long will it take to sell this?

3531 n janssen #2

Richard Kasper at Conlon has the listing. See the pictures here.

3531 N. Janssen: 6 bedrooms, 5 baths, 6930 square feet

  • Prior house sold October 2014 for $1.14 million
  • New construction listed in May 2015 for $3.695 million
  • Withdrawn in May 2016
  • Re-listed in September 2016 for $3.695 million
  • Currently still listed at $3.695 million
  • Taxes aren’t listed
  • 3-car heated garage
  • Central Air
  • Bedroom #1: 17×17 (second floor)
  • Bedroom #2: 14×12 (second floor)
  • Bedroom #3: 14×12 (second floor)
  • Bedroom #4: 14×12 (second floor)
  • Bedroom #5: 13×12 (lower level)
  • Bedroom #6: 13×12 (lower level)
  • Recreation room: 19×20 (lower level)
  • Family room: 21×18 (main level)

28 Responses to “Want New Construction in Southport? It’ll Cost You $3.695 Million: 3531 N. Janssen”

  1. Insane to think why anyone would ever need such a massive house like this

    Not for me that’s for sure

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    Rating: +11 (from 11 votes)
  2. The homes this week are getting more and more depressing each day. These homes feel so bland and lifeless. I’m sure the materials used are expensive and the craftsmanship fine, but this house feels so lifeless. I imagine a very sad person living here. This seems like the perfect place for the character from the Blur song “Charmless Man.”

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    Rating: +1 (from 13 votes)
  3. The finishes and staging cannot decide if they want to be “timeless classics” or “ghetto fabulous.”

    I just don’t understand homes like this. Is this why young people are so disconnected from reality? They grow up in their own wing?

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    Rating: +7 (from 9 votes)
  4. This place is– to quote a recent article I read– an “architectural parable on the obliteration of the American Dream”. A totally ostentatious, soulless, and vacuous space that will match the character of its future owners. Absolutely no one needs a house this big. I love that my taxes are paying for the massive deductions that these McMansion owners get to take. Truly sickening.

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    Rating: +12 (from 18 votes)
  5. I wonder what the construction costs are for a home like this?

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    Rating: +4 (from 4 votes)
  6. “I wonder what the construction costs are for a home like this?”

    probably around $1.5 million+

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    Rating: 0 (from 6 votes)
  7. This house is beyond my means but I can see the utility of having extra bedrooms that could be offices and guest rooms, though I’m also fine with having a room pull double duty as an Office that becomes the guest bedroom.

    Can anyone speak to the benefit of having two laundry rooms versus just having the laundry room upstairs?

    I’m not a big fan of attached garages, I guess I fear someone leaving a car running and the house filling with carbon monoxide.

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    Rating: 0 (from 6 votes)
  8. Maybe the formula for new construction is “1,000 square feet per bedroom”? In which case, this house is only over-sized by 930 sq ft.

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    Rating: 0 (from 2 votes)
  9. Sounds like just a tiny bit of slightly jealous but in denial, faux-virtuous hating going on to me. I don’t aspire to this, but I don’t fault those who do as long as long as they aren’t screwing over others in the process.

    As for the property itself it’s boring and cliche for this kind of money and, I suspect, a questionable investment. GVP used to make some unique condos back in the day, but no sign of that spirit here.

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    Rating: +2 (from 6 votes)
  10. Oh by the way, the mortgage interest deduction is capped on the first million mortgaged, so nobody is going to get away with murder here, tax-wise.

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    Rating: +3 (from 7 votes)
  11. “Can anyone speak to the benefit of having two laundry rooms versus just having the laundry room upstairs?”

    Mainly the extra washer/dryer set. If there were space I’d prob put the second w/d upstairs before I’d put in downstairs.

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    Rating: +4 (from 4 votes)
  12. “Sounds like just a tiny bit of slightly jealous but in denial, faux-virtuous hating going on to me. I don’t aspire to this, but I don’t fault those who do as long as long as they aren’t screwing over others in the process.”

    I would aspire to other $3.x million places, just not this one.

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    Rating: +2 (from 2 votes)
  13. this is the kind of house that in 70 years will turn into an SRO flop house.

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    Rating: -2 (from 10 votes)
  14. I would also love to be able to afford this home. I don’t think I personally would want/need a large house, but I can understand aspiring to own a large house. However, this house is just so sad looking. If I had this kind of money to spend and needed the space, I’d buy a grand old mansion. Perhaps something like this: http://www.estately.com/listings/info/1900-south-prairie-avenue–1

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    Rating: -1 (from 7 votes)
  15. “I love that my taxes are paying for the massive deductions that these McMansion owners get to take. Truly sickening.”

    In addition to the cap on the mortgage deduction don’t forget that they will also be paying some hefty property taxes that the previous homeowner did not contribute on that same piece of dirt. Ironically in some burbs (not so much in the city of Chicago) that uptick from many mcmansions could have a noticeable or bigger impact on the cost of providing services in your local community.

    BTW – I’d never want that big or expensive of a home. However I do not find it soul less and think that some of the finishes are quite nice.

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    Rating: +3 (from 3 votes)
  16. Mainly the extra washer/dryer set. If there were space I’d prob put the second w/d upstairs before I’d put in downstairs

    I still do not understand why high end homes now often feature two dishwashers but only leave space for one washer and dryer. On party nights that second dishwasher is a nice extra but that is the once a month situation. For our family of 5 the laundry is used constantly each and every week. We have one washer but two dryers. And it is has been a great time saver. Offered and designed it to have two of each but she declined the second washer to save money.

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    Rating: +3 (from 3 votes)
  17. Jp3chicago – hefty property taxes that they can also deduct (if they itemize)

    First year tax savings from mortgage interest deduction on *only* 1 million of mortgage is around $21,000. Not much for someone in the 40% tax bracket, but an absolute game changer for someone in the 25% bracket.

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  18. If you have two dishwashers you can set it up so that you never have to put the clean dishes in cabinets.

    Two washing machines might be nice because you can use one for the gross laundry (dog beds, cleaning rags) and the other for everything else.

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    Rating: +2 (from 2 votes)
  19. Yeah but in this bracket of income many, if not most, that itemize may be subject to the AMT. So it does not matter as much as you may think. I’ve hit AMT for 4 of the last 5 years. Somehow we did not hit it for 2016 tax year.

    I do not discuss it much with friends but it came up one night in a group and I was surprised how many of them also hit that threshold. Deduct and itemize all you want. Somehow “the tax man” will get you.

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    Rating: +2 (from 4 votes)
  20. “Offered and designed it to have two of each but she declined the second washer to save money.”

    they are making washing machines that can do duel loads, however I would wait a few iterations until they get all the bugs worked out.

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    Rating: +1 (from 1 vote)
  21. “two dishwashers set up so that you never have to put the clean dishes away”

    Jenny – Pure genius move. But at times I think that you are really a 25 year old bachelor. Or most of my roommates from the late 90s and early 2000’s.

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  22. Exact same color scheme/design as the Cornelia house from the other day.

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  23. What I cant believe is someone built this spec / and that someone lent to build it spec for that price

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  24. Marko – – there was not necessarily that big of a loan involved. A lot of times these are done by groups of investors who pony up a bit of equity financing. The LTV may have been on the appraised value of just the land.

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  25. “First year tax savings from mortgage interest deduction on *only* 1 million of mortgage is around $21,000 … someone in the 25% bracket”

    Um, what? Let’s say you get a (sort of expensive) 4.00 jumbo; that’s (near enough) $40,000 in first year interest.

    Assuming that 100% of that is incremental deduction (not a sure thing), that would be a $10,000 tax savings for someone in the 25% bracket.

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  26. “I still do not understand why high end homes now often feature two dishwashers but only leave space for one washer and dryer.”

    Okay. I’m gonna need to see evidence of a couple of listings.

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  27. “two dishwashers set up so that you never have to put the clean dishes away”

    “Jenny – Pure genius move. But at times I think that you are really a 25 year old bachelor. Or most of my roommates from the late 90s and early 2000’s.”

    Could make do with the drawer dws, since jenny hardly has any dishes to wash (why dirty a dish when you can eat the $10/lb food hole cut fruit straight from teh container)?

    I used to do something like this with the washer dryer. Wear clean closthes out of dryer (just turn on to freshen, as needed), put dirty in washer.

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    Rating: +2 (from 2 votes)
  28. “Assuming that 100% of that is incremental deduction (not a sure thing), that would be a $10,000 tax savings for someone in the 25% bracket.”

    Three letter word…..

    AMT

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