Selling 2 Years Later in Lincoln Park: 1445 W. Belden
We’ve been chattering about how long you have to hold onto a property to actually make money. If you bought in the last two to three years, it’s been tough. Yes- even in Lincoln Park.
Such is the case with this 2-bedroom unit at 1445 W. Belden. Last purchased in June 2006, it is now listed $12,000 below what it last sold for.
Here’s the listing:
INCREDIBLE CONDO WITH FABULOUS ARCHITECTURAL FEATURES. 15′ CEILINGS, PRIVATE & PUBLIC TERRACES WITH CITY VIEWS. 2 LARGE BRS AND REDONE BATHS.
CHEF’S KITCHEN WITH EVERY UPGRADE YOU COULD WANT! HARDWOOD FLOORS THROUGHOUT. STORAGE GALORE & SEPARATE GARAGE PARKING INCLUDED IN PRICE. SMALL, INTIMATE 17 UNIT BUILDING IN WALK-TO-EVERYTHING NEIGHBORHOOD!
@Properties has the listing. See more pictures here.
Unit #3N: 2 bedrooms, 2 baths, 1500 square feet
- Sold in June 2006 for $537,500
- Originally listed in June 2008 for $573,500
- Reduced several times
- Currently listed for $524,900 (parking included)
- Assessments of $331 a month
- Taxes of $4594
“CHEF’S KITCHEN WITH EVERY UPGRADE YOU COULD WANT!”
Where’s the double oven hiding? And the beverage refrigerator? And the trash compactor? And the built-in espresso machine? Brick pizza oven? Pot-filling tap over the stove? Tiled backsplash? Second sink? I could **want** a heck of a lot of upgrades that obviously aren’t there–and expect more in a “chef’s kitchen”. Hell, I can’t even see where the dishwasher is (it isn’t next to the sink, which I deem inconvenient) and that sure isn’t a Wolf range to “match” the SubZero fridge.
And what’s with the bathroom they show? Where do you keep your stuff?–those mirrors don’t look like cabinet fronts.
anon,
funny post, you forgot to mention the stand alon microwave looks like it was purchased at ace hardware for 59.99
WHAT “fabulous details” Where do you see any? Are we supposed to be thrilled about the furnace ducts in a place that’s been clean-walled and opened up to death?
These people need to know that the bubble has burst and that 2006 is OVER OVER OVER.
What would be the 2002 price for this, does anyone know? I’ll just figure a 30% reduction would be about right.
Look at the virtual tour; check out the “kitchen” 360 view. The dishwasher IS next to the sink to the left. It does have a high end cooktop/undercounter oven. I know a lot of foodies who only want one oven – yeah, I want two as well.
I wish people would stop decorating lofts like traditional houses, it just, really just, doesn’t, work.
“The dishwasher IS next to the sink to the left.”
So it’s crammed into the corner. Great. The door opens right in front of the sink–do I *look* like I have orangutan arms?
“I know a lot of foodies who only want one oven”
Isn’t that b/c double ovens are (generally) inferior, rather than not *wanting* two ovens? I can’t imagine anyone who really cooks at home not *wanting* two ovens, but may not be willing to sacrifice (1) quality of the first oven and/or (2) space consumed by the second oven.
“forgot to mention the stand alon microwave”
I assumed that wasn’t included.
I like the paint in the living room.
Ahhh, nice to see you all bashing my home=( Especially when I just lost $50k on it. I wasn’t trying to make money, I wasn’t trying to flip… I got relocated with my job and had to sell at an inopportune time. Listed way too high in the beginning, and I agree, not a great description of the place. That’s what you get for trusting the experts… real estate agents.
I loved that place, was sad to leave it. I liked the kitchen, and the balance of a finished space with a lofty feel (ceilings were 30+ ft in some areas), it got great light, had lots of outdoor space, and a nice city view.
Maybe you should go check it out in person. It’s now listed for $499 and still hasn’t sold. I have nothing to gain on it now so if you have any questions about the neighborhood, the neighbors, etc. just let me know.
You guys shold quit posting so much, work a little more, and finally become qualified to buy a place 🙂
For a split second I actually felt sympathy for you, I really did.
“#Steve Heitman on October 30th, 2008 at 8:57 pm
You guys shold quit posting so much, work a little more, and finally become qualified to buy a place :)”
He’s baaaaaaaaaaaaaaaaaaaaaaaack.
30 ft ceilings! I thought this place looked interesting and very attractive, but was concerned such high ceilings would cause difficulty heating the place in winter. Was this true? Is the parking an outdoor space or in a garage?
Dear Sad Owner.
It’s a nice place. best of luck
Homedelete – Please don’t shed a tear for me. You work with low life bankruptcy cases where people taxe “Pay Day” loans as you previously posted. You live in an apartment with your mom and complain that you can’t afford the high priced real estate. Sounds like a great life 🙂
ROFLMAO… Steve you suck. Welcome back 🙂
As for where things will be going… This should answer it very nicely…
http://www.thisismoney.co.uk/investing-and-markets/article.html?in_article_id=456069
I almost bought a unit in this building in ’04- so glad I didn’t. The light was great but the layout was very awkward, as I remember.
IB. A major drop in industrial production is scary as hell. In retrospect, that was one of the red flags that signaled the coming of the GD. I’m not saying we’re heading towards the GD but a 99.7% drop off in Volvo’s large truck orders freaks me out. Combine that with the large sales volume decline in the real estate industry and you can see that our economy is moving much slower than it used to.
HD. Want to see ugly type baltic dry shipping rates into google. Thats a global picture. Rental rates on those massive cargo boats went from almost 300k a day to 6k. Maybe the goberment will buy the boats soon also. Oh wait the goberment don’t make no money to pay for all this.
Steve H and G have not posted lately. Could they be one and the same? Or maybe they are on vacation together.
hehe valasko…are you perhaps insinuating that they are “friends” together on Rosie’s cruise?
I think it is a great looking unit and is staged very well…obviously the owner has nice taste. You can tell it has been well maintained and I am sure it will be missed.
Just one thing sad owner, and I am sure you had nothing to do with it, but it may perhaps be called a ‘gourmet kitchen’ at best as a true chef’s kitchen is a bit more complicated with many commercial grade fixtures. In a thread or two following this one, I gave a detailed list of CK features as I invested a good chunk on a home outfitted with one in Florida.
Best of luck to you in selling and don’t give much weight to the negativity on this forum. 99 out of 100 properties are full of mostly unwarranted negative posts and they usually come from people who DO NOT own presently and probably won’t do so for a few years to come. You can give most here an outstanding property and return insulting remarks on all accounts. While I LOVE the style of every past home of mine (some I still own and rent or use myself a few weeks out of the year) most of the unique features of them would be lost on this group.