6 Years Later, This Custom East Lakeview House Has Never Sold: 550 W. Oakdale
This 6-bedroom custom single family home at 550 W. Oakdale in East Lakeview first came on the market in May 2010.
If it looks familiar, that’s because we’ve chattered about it twice before, with the last time in March 2013.
Back then, it was listed for over $3 million and we debated whether this East Lakeview neighborhood could support single family home prices over $3 million.
See our chatter here.
The house is still on the market and has been reduced numerous times over the years.
If you recall, the 7000 square foot house has a unique 53 foot atrium center and radiant heat floors.
It has twelve foot ceilings and eight foot doors along with cherry hardwood floors.
The kitchen has the usual upscale appliances like SubZero, Viking, Wolf and Zephyer.
Built on a 25×140 lot, the house has a 2-car garage that the listing says can accommodate 4 cars with a car lift.
It also provides “snow free living” with heated walkways and stairs along with triple vented gas sealed windows.
The lower level is now being sold to buyers as an in-law unit or au pair quarters. It’s apparently below grade but has a bedroom, 1 bath and a living area. There doesn’t appear to be a kitchen however.
The house has marble baths.
There are 4 outdoor decks.
And if you’re wondering how you’ll cool it all, the house has 4 HVACs.
Originally listed over $3 million, it has now been reduced to $2.199 million.
How long can a custom home like this go unsold before some of the finishes have to be replaced due to changing trends?
And will this house finally sell in this hot housing market?
Sam Shaffer at Chicago Properties has the listing. See the pictures here.
550 W. Oakdale: 6 bedrooms, 4 baths, 3 half baths, 7000 square feet, 2 car parking
- Original property sold in June 2007 for $907,500
- Originally listed in May 2010
- Was listed in June 2012 for $3.2 million
- Reduced
- Currently listed at $2.199 million
- Taxes are now $29,859 (they were $37,897 in 2013)
- Central Air
- 4 Decks
- Bedroom #1: 19×15 (third floor)
- Bedroom #2: 18×12 (second floor)
- Bedroom #3: 15×12 (second floor)
- Bedroom #4: 13×13 (second floor)
- Bedroom #5: 10×12 (second floor)
- Bedroom #6: 18×11 (basement)
- Laundry room: 8×10 (second floor)
I don’t think that atrium should be in a house that is built on a 25 foot lot. It’s just too narrow of a space for it.
Two thoughts:
Over-improved – lots of cool features and upgrades that the market is not going to monatize for these sellers.
Exposed ducts – for $3 million people do not exoext to see the loft like exposure of bare HVAC ducts. They look out of place in the media room. Considering the other custom features they spent $$$ on that really seems out of place.
CUBBIES LUV ATRIUMS… AND OLD STYLE LOLZ!!!!!!!
$1.9M TOPS!!!
One-of-a-kind custom luxury living residence in East Lake View.
too custom, too one-of-a-kind.
I think they need to change the flooring. The diagonal is terrible. I like it otherwise though. How much would this house cost in Lincoln Park? If the same price, I’d much rather live in Lincoln Park than here.
finishes already look a bit dated. But pricing is closer to being right. i would say this closes at about $1.7M. But like Jenny says for this price level, I would much rather be in Lincoln Park or Gold Coast.
Apart from everything else (sonies comments in 2013 seem apt to me), it needs a floor plan so someone can make sense of the photos better — how the space fits together was confusing to me, and the living room seems weirdly narrow. I’d also expect more outdoor space (even in a city SFH) for that much, personally.
I was curious what else in the area was in the price range. Found 538 W Stratford Pl 60657. New construction, also a small lot.
And more to my personal taste: https://www.redfin.com/IL/Chicago/649-W-Wellington-Ave-60657/home/12804540
I’ll add that obviously the Wellington place has a lot more land.
And, because of this search, I just noticed that the mansion the Serbian cultural center has been in is for sale for $3.85m. I saw some play there and remember checking out the library.
https://www.redfin.com/IL/Chicago/448-W-Barry-Ave-60657/home/22727690
How do you say “F*cked” in Polish?
“it needs a floor plan so someone can make sense of the photos better”
scroll through the pics. the last 4 are the floor plans.
Oh wow I must have had a good nights sleep before Sabrina posted about this in 2013
“scroll through the pics. the last 4 are the floor plans.”
Thanks, not sure how I managed to miss that!
So with that I definitely find the layout on the first floor unappealing. Don’t like the entry way, the living room is narrow and not actually very big at all, really seems similar to what you see in many much lower priced houses (or 2-flats). The same is true for the dining room, but then you get the fancy stairs and on the other side of the stairs the huge kitchen with all that extra space that seems pointless and then then eat-in area on the other side. Figuring out a better way to use the space might help some, now it feels wasted to me. The layout of the upper floors is more appealing, although I totally agree with those saying the exposed ducts make zero sense in this place.
Lack of an entry vestibule in our climate for a SFH at this price point is bananas. The entry looks cheesy-cheapo to me too. The kitchen layout sucks.
I actually like this one a lot, but yeah, if the interior was remodeled 8 years ago and never lived in, it does raise questions about the state of repair. Someone would have to go through it with a really fine toothed comb, and probably would find issues.
Lots of space and nice outdoor amenities, plus parking in a great location. At $2 million, it might sell if the economy stays hot.
Now that I scrolled through the other comments I mostly agree, but I still find things to like. One thing that resonated was Liz’s comment on lack of a vestibule. Definitely true. Every home needs one in this climate. Also, I agree the stairways are a bit too flamboyant, and probably take away some necessary space. I wouldn’t have done it this way, but I still think it might sell for $1.7 million, as someone else predicted.
I don’t like Lakeview, nor do I like vertical living, but if I did, I like this place. While the staircase really belongs in Lake Forest, I still think it somehow works in a Stair as Art kind of way. And I’m not sure if the place has been sitting empty for 8 years, wouldn’t it have been rented. I’d close off the basement and AirBnB it.
I would be glad to house-sit and show for you and take BETTER PICTURES!!!
Things date fast, oh and can’t help but “love” the ductwork.
As for pricing, 3.2 down to 2.3 means whatever we come up with out of thin air.
Not a place I’d love to live in.