3-Bedroom Penthouse with 2-Car Garage Parking Reduces $35K: 436 W. Belmont in Lakeview
This 3-bedroom duplex penthouse in 436 W. Belmont in East Lakeview came on the market in July 2023.
Built in 2000, 436 W. Belmont has 16 units and garage parking. It’s an elevator building but does not have door staff but a Butterfly call system.
There are 4 guest parking spaces in front of the building but no other amenities.
The listing says this penthouse is the developer’s unit and still has the original owner.
It has vaulted ceilings and a gas fireplace in the living room. The listing also says it has a “unique and ultra private” front foyer which is a special feature for this unit only.
There appears to be hardwood floors on the main level in the living/dining room and carpeting in the bedrooms and loft.
The kitchen has granite counter tops, stainless steel appliances including a Viking built-in refrigerator, Thermador commercial grade stove with griddle that vents to the outside, a Bosch dishwasher (2022) and the microwave doubles as an oven. There also appears to be a beverage refrigerator.
All three bedrooms are on the main floor with an open loft on the second floor.
The primary bedroom has an en suite with a Jacuzzi jetted tub and separate steam shower along with a “recently renovated” vanity, upgraded Toto toilet and heated tile floor (2023). There’s also a private deck off the primary bedroom.
The listing says there are Grohe faucets throughout and a Brita water filtration system.
It has the features that buyers look for including central air and side-by-side laundry with a new washer/dryer (2023).
The unit also has newly updated LED recessed lighting (2023).
It faces south and has blackout Hunter Douglas blinds in the living room and wood shutters in all the bedrooms.
There is also a rooftop deck with south views on the second floor. The listing says that all exterior decks were “redone” in 2019.
This unit has a rare side-by-side 2 car private garage. It also has a large, private storage closet.
This building is near the Lakefront Trail, the shops and restaurants of East Lakeview, including on Broadway, the Mariano’s, and numerous bus lines.
Listed in early July 2023 for $985,000, it has been reduced $35,000 to $950,000.
Will the price cut get a deal done?
Lisa Petrik at Jameson Sotheby’s has the listing. See the pictures here (sorry, no floor plan).
Unit #401: 3 bedrooms, 2 baths, 2200 square feet, penthouse, duplex
- Sold in December 2000 for $515,000
- Originally listed in July 2023 for $985,000
- Reduced
- Currently listed at $950,000
- Assessments of $719 a month (includes parking, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $13,674
- Central Air
- Washer/dryer in the unit
- Gas fireplace
- Bedroom #1: 11×15 (main floor)
- Bedroom #2: 10×10 (main floor)
- Bedroom #3: 10×9 (main floor)
- Loft: 18×13 (second floor)
- Living/dining room combo: 18×24 (main floor)
- Kitchen: 11×9 (main floor)
- 3 private outdoor spaces
Soon there will be a day when AI will help buyers see beyond awful paint choices & dated finishes. Until then, easy pass.
https://smartfloorplan.com/adminka/public/api/shell/v482877/photos/idx
The virtual tour shows more insight. The unit just looks dirty and not well kept. Those decks look like they need to be replaced after 23 years. Don’t miss the exotic animals on the walls too.
Still way over priced but owner Would have been better off taking the $35k and painting, cleaning up the outdoor areas & staging the property
2nd 3rd br’s are tiny
The deck off the MBR doesn’t look redone
I would hate to see what the old MBa vanity looked like
Designs of this ilk aren’t aging well
Who knows, maybe these folks are hoping that someone who was conceived in Europe in 72 (or at least with the album playing) walks into this place, and upon being greeted by the entryway poster, that prospective buyer simply must have this place, the finishes, condition and presentation be damned.
“what the old MBa vanity looked like”
I’d bet it was just like the 2d bath.
If the decks were all redone in 2019, there’s pretty clearly a need for annual clean and re-seal.
“Newly updated LED recessed lighting throughout”
I bought some recently when they were ~$3.50 each at costco. So that’s like $100 value! But nice to know that if they are the Kelvin that you like, you have 7+ (maybe 10+) years before having to think about it again.
The paint colors are off putting. I know many would paint, anyway, but it’s really dated looking.
404 sold in Nov-22 for $775k–somewhat smaller, and only one garage space:
https://www.redfin.com/IL/Chicago/436-W-Belmont-Ave-60657/unit-404/home/12576957
NOPE. For $950k you can get a much more stylish and modern place with similar sq. footage in pretty much any good neighborhood. Probably get a unit with a killer roof deck as well. $950k goes far in this city.
What $929k gets you in West Lakeview:
https://www.redfin.com/IL/Chicago/2209-W-Belmont-Ave-60618/unit-3/home/181161405
If you need an elevator, here is what $925k buys in Lakeview:
https://www.redfin.com/IL/Chicago/2800-N-Lincoln-Ave-60657/unit-3N/home/171313014
“The paint colors are off putting. I know many would paint, anyway, but it’s really dated looking.”
It’s thousands of dollars to paint this entire unit. Probably $5k to $7k. Most don’t want to do it. And most buyers can’t look past paint colors. Even if you say you’ll offer a credit. They don’t want to deal with it. I’d call Renovation Sells.
“Those decks look like they need to be replaced after 23 years.”
The listing says the building replaced the decks in 2019.
“Soon there will be a day when AI will help buyers see beyond awful paint choices & dated finishes. Until then, easy pass.”
Will AI magically paint the walls when you go to see the property in person?
Because real estate tools can already “paint” the walls, the kitchen cabinets and insert furniture into the property. That happens all the time. I’m not convinced it does anything to actually sell the property because most people in Chicago actually go to look at the property in person and it means most are disappointed that the kitchen has wood cabinets, not white, like the pictures indicated.
I’m not wild about living on Belmont, though this block is one of the better ones. Even if it were on a better street, nothing about the interior says, this place is worth nearly $1 million! Obviously the paint choices are hideous and can be painted over, but not much you can do about the rest.