3-Bedroom Lakeview Brick and Timber Penthouse Loft Sells for $10,000 Over Ask: 3323 N. Paulina
We last chattered about this 3-bedroom penthouse loft at the Gallery Lofts at 3323 N. Paulina in Lakeview in May 2013.
See our prior chatter here.
If you recall, it had many features that loft lovers crave including a timber beamed ceiling.
There was a 3-story atrium with a spiral staircase that connected the floors.
The kitchen, with maple cabinets and stainless steel appliances, was in the original elevator shaft.
It had west facing windows.
On the third floor there was a small “sitting room” which lead to a private 871 square foot rooftop deck with views of downtown.
It had central air, washer/dryer in the unit and 1-car garage parking.
In our previous chatter, many of you were surprised at the list price and thought it was too high.
But it sold quickly, and for $10,000 over the ask, at $760,000, although that was still under the 2006 purchase price.
Another penthouse unit, Unit #5DE, is also on the market.
Unit #5DE tried to sell in February and March of 2012 at $529,000, when the market was decidedly cooler.
It came back on the market in July 2013 for $825,000 and still remains at $825,000.
Will a quick sale be the fate of this other penthouse unit in the same building?
Or did Unit #5H just price it right?
Todd Szwajkowski at Dream Town had the listing. You can still see the pictures here.
Check out the pictures of Unit #5DE here.
Unit #5H: 3 bedrooms, 2.5 baths, 2754 square feet, 1 car parking
- Sold in May 2000 for $519,500
- Sold in April 2004 for $635,000
- Sold in October 2006 for $775,000
- Was listed in May 2013 for $750,000
- Sold in August 2013 for $760,000
- Assessments of $406 a month
- Taxes of $3910
- Central Air
- Washer/Dryer in the unit
- Deck: 871 square feet
- Bedroom #1: 24×23 (second floor)
- Bedroom #2: 17×14 (main floor)
- Bedroom #3: 18×15 (second floor)
- Sitting room: 12×11 (third floor)
I think the agent added a few pics that aren’t from this listing… there appear to be 2 different kitchens pictured, and I don’t see on the floorplan any spiral staircase and yet there’s one in a photo. Also, how is a table suddenly a kitchen island? Or are these pre-remodel photos? If this is the unit’s current state, it needs a lot of work. Shouldn’t get anywhere near what that one that recently sold did — that one looked mostly move-in ready.
Unit 5DE got lucky by not selling a little over a year ago. Ill take 200k any day in 1yr
Benjy, I see two kitchens too…and I think one of them is preremodel and one is……? I assume the spiral stairs go to the loft which the floor plan shows no way to get to. The realtor of 5DE is really doing a disservice to the unit with those photos, although the floor plan is a big help, at least in helping figure the place out. I think the floorplan turns me off to the layout though.
The second kitchen may have been or is in the front bedroom upstairs??
I am sure that the 06 buyers of 5H feel pretty glad that the market came back to where it did. I wonder how much of that buildout they did, it looks pretty nice if you can handle the spiral staircase and lower ceilings. Totally move-in ready compared to 5DE where you would need maybe $150k at least to get to where 5H is. So I don’t see a sale for 5DE above $600k in the current condition.
” I assume the spiral stairs go to the loft which the floor plan shows no way to get to.”
I think the loft access is a ladder you can see near the front door in one of the kitchen shots… it looks like, if the spiral staircase is from this unit, it may be from the master BR to the roofdeck? But there’s apparently no photo of the 2nd BR to confirm if it comes up through or next to that…
The listing says “Sub-zero” fridge and neither kitchen has a fridge worth more than $800. Maybe they actually did a rennovation and the agent accidently included the old pics.
“The listing says “Sub-zero” fridge and neither kitchen has a fridge worth more than $800.”
Doesn’t make sense.. why would anyone want their fridge sub-zero.. that would make it a freezer…