4 Years and a Renovation Later: A 3-Bedroom at 1410 N. State Parkway in the Gold Coast
This 3-bedroom at 1410 N. State Parkway in the Gold Coast just came on the market.
The building was built in 1981 and has just 50 units, with only 2 units per floor.
If those tree top views seem familiar, that’s because we last chattered about this unit in December 2011 when it was on the market for $71,000 under the 2000 purchase price.
See our 2011 chatter here.
In the prior listing, some of the finishes, including the kitchen, were not up-to-date.
Listed for $499,000 when we chattered about it, some of you thought it would ultimately sell in the $300,000s.
3 years after its last sale, it has come back on the market fully renovated with a new kitchen and baths.
This time the unit is also listed as a 3-bedroom, even though last time it was a 2-bedroom with den. The listing says the middle bedroom has been opened up and is now used as a den but can be configured into a bedroom.
The new kitchen has white cabinets and stainless steel appliances along with a tile backsplash.
The master bedroom has an ensuite bathroom that has been updated with a walk-in shower.
If you recall, this is a fourth floor southeast corner unit.
It still has parquet floors in the main living space.
The unit has all the features buyers look for including central air, washer/dryer in the unit and valet parking is available in the building for $220 a month.
With the renovation, this property has come back on the market for $330,000 more than the 2012 sale.
Buyers love “new.”
Will it get the premium?
Leslie Ann Bodell at @Properties has the listing. See the pictures here.
Unit #4B: 3 bedrooms, 2.5 baths, 2000 square feet
- Sold in April 2000 for $570,000
- Originally listed in June 2011 for $650,000
- Reduced
- Was listed in December 2011 for $499,000
- Sold in April 2012 for $420,000
- Currently listed at $750,000
- Assessments are now $1550 a month (they were $1420 a month in 2011) (includes water, doorman, cable, exercise room, snow removal)
- Taxes are now $9732 (they were $9634 in 2011)
- Central Air
- Washer/Dryer in the unit
- Valet parking at $220 a month
- Bedroom #1: 19×14
- Bedroom #2: 17×17
- Bedroom #3: 13×12
I’m not sure where to start… This place is a total mish mash of styles. The bathrooms look like something out of a Home Depot catalog. Is that vinyl tile in the second bathroom?
Not to mention the shady mention of a third bedroom, that’s open and not even a bedroom anymore…
I think there are much better choices out there in this price range. The finishes in this unit are more suggestive of a $420,000 price than a $750,000 price. The renovation is nothing to brag about.
Of topic, but here’s a interesting stat. >35% of SFHs in Chicago were down at least 2% in June 2015 vs June 2014. This compares to less than 15% in 2014 vs 2013. This is not a good trend for those feverish and persistent housing bulls out there:
http://www.bloomberg.com/news/articles/2015-09-03/almost-half-of-homes-in-new-york-and-d-c-are-now-losing-value
I was going to comment that this looks like a home depot renovation, not exactly ‘stylish’ in any way, but then again its the old coast so it probably doesn’t matter that much.
“Is that vinyl tile in the second bathroom?”
Where? In the shower surround?
Yes. It looks like they used a shower surround instead of actual tiles.
“a shower surround instead of actual tiles”
Even if they didn’t (and yeah, maybe, but hard to tell) and those are actual tiles, they were a poor choice.
And if it is a fake-tile fiber surround, that does NOT belong in a $750k condo.