3-Bedroom Classic Vintage Unit Now Reduced $130K: 2910 N. Pine Grove in Lakeview
We’ve chattered about this classic 3-bedroom vintage unit at 2910 N. Pine Grove in East Lakeview several times over the last 18 months.
See our January 2010 chatter here.
It has now been reduced $130,000 since it was first listed in December 2008.
It has a restored limestone fireplace and a domed ceiling foyer.
The listing says the kitchen and baths are “newer” and the kitchen has Viking stainless steel appliances.
While it has in-unit washer/dryer is does not have central air nor deeded parking (it is leased in the neighborhood.)
In the prior chatter, some of you thought this would sell closer to the 2003 price.
Pam Lynch at @Properties has the listing. See the pictures here.
Unit #2: 3 bedrooms, 2 baths, 2000 square feet
- Sold in March 1995 for $210,000
- Sold in August 2003 for $376,000
- Was listed in December 2008 for $599,000
- Reduced
- Was listed in February 2009 for $574,900
- Reduced
- Was listed in April 2009 for $549,000
- Withdrawn from the market
- Re-listed in December 2009 for $530,000
- Was listed in January 2010 at $530,000
- Reduced
- Currently listed at $469,000
- Assessments of $523 a month
- Taxes of $5,444
- No central air – window units
- Rental parking nearby
If they would have listed it below 500k to begin with, it would be long gone.
Love it, but just can’t get past the no parking.
This seems to be a reasonable, solid listing. The positives are the 3rd bedroom, updated condition. The negatives include no central A/C, leased parking and the fact that it is an older building
However, I think the biggest problem is that it may not fit the needs of any of the stereotypical groups of buyers:
– too small for a growing family
– too inconvenient for a retired couple
– too understated for a show-off (guy w/stiped shirt)
– too expensive for a young couple/single just starting out
– too “straight” a neighborhood for a gay couple? – ok, I’m stretching on this last one.
This problem of being unable to fit the needs of a particular buyer group may, I suspect lead to a price cut. I see this selling for the mid-upper 300s.
“I see this selling for the mid-upper 300s.”
id agree. i think we are back to 2003 prices, and this sold for $375k in ’03.
the no central air and no parking are bad, but I think what really kills this place is no private outdoor space…in this city at this price point its really tough to overlook that…
No parking for a 3 bdrm is a major negative.
Sorry, this under-amenitied unit is still overpriced at over $400,000 – but all it takes is one smitten qualified buyer. Personally I like vintage, but think we’re back to 2001 prices for offers, with prices continuing to fall. Plus this unit has no air-conditioning, no parking, no outdoor space, etc. Status of electrical/mechanical condition is unknown (pictures suggest a good-quality paint job but no rewiring or replumbing), so it may present well but not be a “good deal” long-term.
Parking must be the issue. If they had that option it would have sold at this price or higher. Most rooms in the photos seem to be spacious and bright. My only other negative aside from not being a vintage fan is that there is no island or room for a table area in the kitchen.
Clio how about a gay couple that rides a Vespa picking this unit up? Perhaps you could get yourself a Vespa in bright powder blue or soft yellow and move into this place. They get better mileage than the Lambo and are easier to park on the street. You could make this your “pride weekend” home.
12 months of inventory on the market and Sabrina is doing a follow-up post on a previously discussed unit. This is a non-story.
Price must be the issue. If they had that option to lower it would have sold lower.
“Love it, but just can’t get past the no parking.”
I bought a place a mile north of here with no parking and I can’t wait to sell my car. Not that the buyer of a 3BR would have similar thoughts, but owning a vehicle (naturally, dependent on lifestyle) around here is largely unnecessary.
“I bought a place a mile north of here with no parking and I can’t wait to sell my car.”
Of course you want to sell your car if you don’t have parking. That’s like saying I really want to keep my car because I have a garage.
“Of course you want to sell your car if you don’t have parking. That’s like saying I really want to keep my car because I have a garage.”
Right, because it’s impossible to rent a parking space.
“Right, because it’s impossible to rent a parking space.”
Not true! The seller’s agent told me it would be easy! He/she swore!
Beautiful place but the lack of parking and central air is the problem. At this price point, most buyers aren’t going to consider places without those two amenities. While this place is nicer than a rental, the lack of the two most important modern amenities essentially makes it a rental comparable imho so it won’t sell until it gets to rent parity.
“Not true! The seller’s agent told me it would be easy! He/she swore!”
I can’t speak to this exact location, but I did my homework before signing on the line. If I wanted to, there’s plentiful parking about a half block from my place at $165/mo.
I looked at some units in this complex – one of the other negatives is that the public spaces are absolutely depressing.
“Not true! The seller’s agent told me it would be easy! He/she swore!”
I’m rich because I have a nickel for everytime an RE agent said something ike this!
great i still didnt get my house warming invite in the mail yet barry.
When I rented about 1 block away from this unit (5 years ago), I had no trouble renting indoor heated parking for around $125 a month.
Granted, the parking was about 3 blocks away, and it’s probably $200 a month by now.
The neighborhood was great back then, but is decidedly less so now -how hard is it to build a new grocery store???
And I hate to bring it up, but the elementary school isn’t so hot here. This is pretty much the only reason I am not looking to move back to East Lakeview.
“great i still didnt get my house warming invite in the mail yet barry.”
I haven’t really even completely moved in yet, so don’t hold your breath.
SE Lakeview: sorry Nettlehorst and Alcott are 2 of the best gradeschools on the northside
“but the elementary school isn’t so hot here”
This was the reason I sold my house rather quickly (13 month listing) in the neighborhood with mostly families interested.
“sorry Nettlehorst and Alcott are 2 of the best gradeschools on the northside”
I didn’t say that they were bad schools, just not so hot. Lincoln, Bell, Burley, Blaine, Ogden… If you included the NW side, add in Oriole Park, Edgebrook, Norwood Park, Ebinger, Wildwood, etc. These attendance area schools all have better test scores than Alcott and Nettlehorst.
Test scores, meh. I’d rather live in Nettlehorst or Alcott than in any of the other areas cited for better schools (save for Lincoln).
It’s great to make blanket statements that this entire neighborhood is now worth 2003 or 2001 prices but even if that was a given, it’s meaningless here because you have no idea how much if any they put into this place. It might not be the same place it was back then. Why don’t you just look at some ACTUAL comps and say the price you think this is worth. Then we can see how wrong you are when it sells.
Also, not a nice neighborhood? Are you high? This neighborhood is great.
“id agree. i think we are back to 2003 prices, and this sold for $375k in ‘03.”
“Personally I like vintage, but think we’re back to 2001 prices for offers”
“The neighborhood was great back then, but is decidedly less so now -how hard is it to build a new grocery store???”
“Why don’t you just look at some ACTUAL comps”
I agree, AK49. So much speculation on the prices of everything without reference to recent comps — what do people base this on, other than gut reaction? Given how much real estate appreciated between 2000 and 2007, my guess is that we are not yet at “2001 prices” (whatever that means). Maybe someone has some data.
“I bought a place a mile north of here with no parking and I can’t wait to sell my car.”
Me, too, Barry.
“This is a non-story.”
I’m interested. I’m really, really interested if it drops another $130K.