9 Months Later, Still Trying To Re-Sell This Luxury 5-Bedroom SFH In Southport: 3251 N. Lakewood
We last chattered about this 5-bedroom new(er) construction single family home at 3251 N. Lakewood in the Southport neighborhood of Lakeview in November 2011.
See our prior chatter here.
The house has an interesting prior sales history.
The house was new construction built in 2009 on a standard 25×125 Chicago lot.
It was on the market for nearly 2 1/2 years before finally selling in early September 2011.
In early October 2011, just weeks later, it was back on the market for nearly $100,000 more than the buyer just paid.
The old listing says the seller “relocated.” The new listing makes no mention of the current seller.
If you recall, 4 bedrooms are on the second floor with the 5th in the lower level.
It has luxury finishes including millwork, moldings and a mahogany library.
The house has a 2-tiered deck and a 2-car garage.
It is still listed 9 months later for the same price that it was listed at in October 2011.
How low does this have to go to find a buyer?
If it matters, the house is apparently in Burley, and not Blaine or Bell.
Jennifer Ames at Coldwell Banker had the listing before and she has the listing again. See the pictures here.
3251 N. Lakewood: 5 bedrooms, 4.5 baths, 5200 square feet, 2 car garage
- Sold in March 2006 for $695,000 (the prior house which was torn down)
- Originally listed in April 2009 for $2.38 million
- Reduced several times
- Was listed in December 2010 for $2.125 million
- Reduced
- Was listed in July 2011 for $1.995 million
- Sold in September 2011 for $1.89 million
- Re-listed in October 2011 for $1.995 million
- Still listed at $1.995 million
- Taxes of $6040
- Central Air
- Bedroom #1: 20×15 (second floor)
- Bedroom #2: 14×11 (second floor)
- Bedroom #3: 11×14 (second floor)
- Bedroom #4: 11×10 (second floor)
- Bedroom #5: 11×14 (lower level)
This is why you don’t relocate unless the company is selling your house for you these days. This buyer/seller is not going to get away unscathed.
While I understand Jennifer Ames’ explanation of the layout all I see is that anyone coming into this house has to go down stairs to get to the front door, then has to go up a flight immediately entering the home. Good luck getting grandma inside!
Funny that all these block mansions were in vogue during the bubble. I would guess over 30% go through distress (i.e foreclosure, reo)
What is the difference between Burley, Blaine or Bell??
dmc run no more
I’ve been looking in the Burley area for a few months now, and this place seems severely overpriced. You can find homes of similar size in the Burley attendance area that have asking prices of around $1.5 million, such as 1314 W Barry, 1526 W George, and 1530 W Wolfram. The finishes in 3251 N Lakewood might be slightly nicer, but nowhere near enough to justify a half-million higher price. I’m also surprised that this sold for $1.9 million back in Sept 2011.
“What is the difference between Burley, Blaine or Bell??”
Not much, they are all good schools.
…it also seems deceptive to call it a 5200 sq ft house when there are only 3244 sq ft above grade. Basements are great for storage/laundry but don’t count as living space in my book. At approx $300/sf this place should sell for $973k.
I live in the neighborhood and toured this house during a Sunday open house. The exterior, size, and openness are great. The location is good except there is a factory behind it which may make it a bit noisy (not sure as I don’t live by this exact location.) I was not bothered by having to go down to get in and then up. This layout adds more light to the basement, which works well for a family with kids who play in the basement playroom, and gives privacy to the living/dining areas b/c you cannot see directly in as you would in a house with a normal first floor entrance. Living in a house in the city adds stairs by nature and isn’t fit for grandma much anyway. The kitchen felt a little awkward with one tiny window on a wall of cabinets — it would have been better to omit it. Also, for a two million dollar house the kitchen cabinets should have been of a higher quality — custom to the ceiling and integrated into molding. The tile selection was also on the cheap, bland side. If I recall the master bath had small white, generic ceramic tiles and the floors were stone but basic stone (hard to maintain) and standard cuts. It either needs to go more Ann Sacks or take a price cut. Too bad this owner bought it. When it was previously on the market, it was still owned by the developer who might have been able to cut a deal with the buyer to change tile/cabinets and upgrade it a little more. In the end, a price cut will do it.
Oh, and 973K is way too low for this neighborhood. 1.7 might get it done.
After a local commented on the kitchen, I went back and looked at the photos. That seems like one tiny sink for such a big kitchen! How are you supposed to wash a big roasting pan in that tiny thing?
Seller relocated about a mile north and doesn’t have that much in mortgages outstanding on $4 million of property, it looks like.
Benjamon, I think there’s a bigger sink in the island (though it might be an electric range)
You are right blackberry and that does look much more reasonable. You never know though with the way some of these places are designed..
“Seller relocated about a mile north and doesn’t have that much in mortgages outstanding on $4 million of property, it looks like.”
Funny how blockshopper calls him “she” throughout. Appears he has quit his job, too.
“Appears he has quit his job, too.”
My guess is leave of absence to work on a campaign, but we’ll see. Not many better places in law to go than where he was. Maybe private equity or something, but he already did that.
“…it also seems deceptive to call it a 5200 sq ft house when there are only 3244 sq ft above grade. Basements are great for storage/laundry but don’t count as living space in my book. At approx $300/sf this place should sell for $973k.”
Great logic, except that is not how it works.
“Funny how blockshopper calls him “she” throughout. Appears he has quit his job, too”
Creepy internet lurkers die hard, don’t they?
Don’t worry jmm we know who you are too. Your secret is safe with us.
“but don’t count as living space in my book. At approx $300/sf this place should sell for $973k.”
Y’know what on an entry level property I could see counting it. Afterall compromises must be made so as to meet economic constraints. But for multi-million dollar properties (NOT like this one as the current owner only thinks it is) or even those above a million it is offensive to count below grade space in the square footage number.
This is an epic fail of a property. I’m surprised the agent is wasting her time on this. The 2011 purchaser was a huge fool and this is going back to the bank.
Having looked up the current owner after all the prior comments, the 2011 price is even more puzzling. The buyer’s other achievements make him look brilliant, but paying that price makes him look less so …
“The 2011 purchaser was a huge fool and this is going back to the bank.”
I will happily bid 200% of the stated mortgage balance on this house. I’m sure there are at least 2 others who posted in this thread who would happily outbid me.
Ain’t going to the bank, Bob.
“dmc run no more”
what does this mean?
“what does this mean?”
I know she’s not your favorite yaledancer, but seriously? what have you done with the real CH? from two chatters back on this property:
Trudi (July 1, 2011, 2:10 pm)
does anyone else think the realtor is doing a run dmc rap pose circa 1990 in the photo. what’s with the arm cross?!
CH (July 1, 2011, 2:24 pm)
bingo trudi!
http://upload.wikimedia.org/wikipedia/en/1/1f/Rundmc_2.jpg
“Having looked up the current owner after all the prior comments, the 2011 price is even more puzzling. The buyer’s other achievements make him look brilliant, but paying that price makes him look less so …”
don’t try and understand the kosher nostra, you’re not in their circle. Try and figure out how Rahm Emanuel made $17 million as an “investment banker” in 2 years. The NY/Tel Aviv crowd made him a “made man” and propped his bank account up, so he wouldn’t ever have to worry about that ever. Now he can go about the business of being in that mafia.
Helmet,
I can state with authority that the “kosher” conspiracy you’re so obsessed with doesn’t exist.
haha, thank’s dz. I knew it’d be something good. I read this listing 3x looking for a hint but failed to revisit the old posts. I am slipping
“I read this listing 3x looking for a hint but failed to revisit the old posts.”
I was unable to look at her old photo without having that come to mind. She certainly does do a good job on her listings. Even her cheapo places get good photos, a floorplan and a decent writeup. And a brochure fwiw.
People should be banned from posting on this site for making ethnic / racist comments like helmethofer makes. It is really offensive.
“I can state with authority that the “kosher” conspiracy you’re so obsessed with doesn’t exist.”
OK sure. And there’s no Italian mafia or Russian-israeli mafia in Brighton Beach, and AIPAC is a figment of my imagination too. Rahm really did “earn” that $17 million in 2002 based on hard work, yes sir.
What does Rahm or the mafia or a non-profit organization have to do with this home? Nothing. So why don’t we keep the comments at least somewhat relevant?
Agree with GMT and Daniely. It’s about time Sabrina took action on this poster.
“It’s about time Sabrina took action on this poster.”
Would it be the 4th or 5th time?
i kind of think that was tame for dan. he can get really hateful shitty at times. he is probably in a good mood this morning, maybe he turned off stalag 17 before the nazi fink is machine gunned down mistakenly by the nazi guards?
Do you mean tame for Helmet?
“Do you mean tame for Helmet?”
No he means Dan. The Dan that made you into DanDuece. The Dan who was banned. The Dan who keeps coming back under different names.
“The Dan who keeps coming back under different names.”
Who don’t need to be banned bc we know it’s really dan, who was banned.
Saw this house a couple of times. The real issue here is the structure next door. It’s clearly leaning and at the top floor is about 4″ away from this house. This is a legal nightmare waiting to happen.
I see. Do people think Helmet is Dan in disguise?
It is disconcerting that such blatant racism is allowed here.
It’s disconcerting that it exists
My mistake CH.
Hey I don’t know if there was a get Rahm rich conspiracy by some ethnic group but one thing is really clear. He used his connections to broker a few well timed deals and cashed in heavy.
This is exactly why an individual will spend millions of dollars to run for an office that pays chump change money. The ROI for that role and it’s limited pay scale is horrible however the connections and opportunities to cash in are the perks that make holding that office spectacular!
I actually have grown to like the dude. Napoleqn complex and all. And at least Rham has the cash to tell people to f off when he wants without fear of feeding his family in the future. Quinn is afraid to tell anyone no. Although I Still hate the way he snuck in office despite the lack of residency. In the end it is clear that pesky rules and those Constitution thngies are not meant for the people that work for, or with, King Obama!.
I am very disconcerted Vlajos is allowed to post on here.
I’m not defending Rahm by any means. There’s no doubt he used his political connections to get rich, and that bothers me. But that has nothing to do with his religion, and politicians of all religions have engaged in the same milking of connections after leaving office. It’s singling him out for his religion and implying that all Jews are in a conspiracy to steal money that bothers me. Helmet may think it’s a joke, but Jews have been massacred many times throughout the ages based on rumors of the type he’s endorsing.
My opinion is that bigotry and racism has existed since the time of the homo sapien vs the neanderthal so acting like its not part of life is like forgetting that we all expel waste products. hemhets anti-jewish diatribes is as old as the jewish tribes themselves. The bible says egyptians hated them too. Nothing is ever new or shocking. That doesn’t xcuse his ridiculous bigotry but i keep his old school beliefs in perspective. We can’t pretend that there aren’t all types of people, however, this is a real estate blog and he goes wayyyyyyyyy off topic all the time. He needs meds. We should help him seek treatment.
“This is exactly why an individual will spend millions of dollars to run for an office that pays chump change money. The ROI for that role and it’s limited pay scale is horrible however the connections and opportunities to cash in are the perks that make holding that office spectacular!”
Rahm got rich first, THEN ran for office. Daley fund raiser, Clinton fundraiser and WH hack, IB, took Blago’s house seat, back to WH, Mayor.
Still am amused by people who think he’ll run for president. Country will (obv.) elect someone who has no military experience, but is not going to elect someone whose only military experience is in a foreign military.
I vehemently disliked rahm in the WH and as my congress rep but I am surprisingly impressed with rahm’s job as mayor. Nobody is perfect and he makes plenty of People unhappy but rahm as mayor signals to the world that we will not become Detroit or LA proper. I still left but I will likely return again someday.
http://www.chicagotribune.com/news/local/breaking/chi-shooting-south-side-west-side-north-side-gun-violence-chicago-july-13-july-14-20120714,0,6286922.story
Mayhem is spreading north and northwest. These gangbangers act with utter disrespect for others. Ramming cars in the street. Returning to the scene with guns and gunfire, with absolutely no care for innocent bystanders. It’s like they operate without fear.
“but I am surprisingly impressed with rahm’s job as mayor”
I bet they said the same thing about Khrushchev in 1960.
“Mayhem is spreading north and northwest.”
Yeah HD I’m so worried I’m always out on the street in Little Village at 3:17am or in Avondale at 4:48am. Oh yeah especially considering is it even Avondale if it started on the freeway?
“Rahm got rich first, THEN ran for office. Daley fund raiser, Clinton fundraiser and WH hack, IB, took Blago’s house seat, back to WH, Mayor.”
No you dumbass. HH is actually right on this one.
Rahm moved from a political policy role to an MD/partner of Wasserstein Perella without the qualifications nor tenure to be as such.
Kind of like how Chelsea Clinton got a McKinsey consulting job with no MBA, but just a Masters in Public Health from Oxford. I do wonder how many Masters in Public Heath are hired at McK these days? Oh yeah she now works at a hedge fund so ditto for that. Her public health administration experience must make her uniquely qualified to work at a hedge fund.
You think, anon, that the elites don’t play by an entire different set of rules: look to Obamacare where congress exempted itself LOL!
http://www.huffingtonpost.com/2008/11/07/obama-chief-of-staff-rahm_n_142141.html
Hey anon I know you might work in an unrelated field but I heard top-tier private equity firms are girding at the mouth to hire you on for millions of dollars a year irregardless of the fact that you’ve never worked there or in that field before. Oh wait you need to know people and be “chosen”.
“Kind of like how Chelsea Clinton got a McKinsey consulting job with no MBA, but just a Masters in Public Health from Oxford. I do wonder how many Masters in Public Heath are hired at McK these days? Oh yeah she now works at a hedge fund so ditto for that. Her public health administration experience must make her uniquely qualified to work at a hedge fund.”
Chelsea’s husband also worked at a hedge fund (and then quit- and is now working at one again- or something like that.) Working at a hedge fund is certainly not a difficult thing to do for those who have the right connections and/or went to Ivy League schools. There are 8,000 hedge funds around the country. They have to hire someone. Heck, one of Romney’s sons manages a hedge fund. What does he know about making money? Who knows? But who cares? Someone is giving him money to manage (his father’s blind trust dumped $10 million into it- they say). With hedge funds, it’s really all about who you know.
“Chelsea’s husband also worked at a hedge fund (and then quit- and is now working at one again- or something like that.)”
Her husband is kosher nostra. It’s comical the level of denial out there. Look it up….
Chelsea’s father in law was is PRISON. Look it up.
Helmet in many circles doing time is just the price of doing business, and it gives some street cred too.
helmethofer,
Ever spend time at the Milwaukee Psychiatric Hospital (now known as the Aurora Psychiatric Hospital), where I worked for 4 years? You’re an instantly recognizable clone of the guys I kept under lock and key and occasionally subdued with full leather restraints.
Many of the CCers apparently just view you as a garden-variety anti-Semite, although a bit more unhinged than most. I know you for what you are.
How unfortunate for you that you’ve found one of the very few websites that welcomes the clinically deranged and allows you to indulge your paranoid delusions. Your time would be better spent seeking more effective medications.
What I’m curious about is why Sabrina allows (encourages?) Bob and helmethofer to repeatedly engage in off-topic, incredibly vicious and unfounded personal attacks.
Enlighten me, Sabrina.
I have been a longtime reader of CC, but Bob’s incredible ignorance has finally brought me forth to comment. As Sabrina noted, hedge funds and consulting shops do not look for any particular majors/concentrations/degrees in their hiring. They just look for smart people, regardless of their academic interests. Thus, I know several Harvard graduates with history and social studies degrees who ended up at places like McKinsey. Another buddy works at a top hedge fund with a PhD in physics. If you went to Stanford/Oxford it’s not all that difficult to get a consulting gig, whether or not your degree is in public health.
Moreover, there is nothing wrong/shady for Rahm to have leveraged his relationships to make money as a banker.(No different than top real estate agents getting their rich friends to give them their listings.) This happens all the time in every phase of corporate America. There are many people at investment banks (called relationship bankers) and white shoe law firms who don’t actually crunch any numbers/structure any deals or go to court/review contracts but whose sole job is to build relationships and bring business to the firm. It make sense that those people are well compensated. It’s extremely difficult to find people willing to give you tens and millions of dollars worth of business. If you have those kinds of connections you will always have a good banking/legal job.
If there’s one thing in the world that isn’t free, or wanted, it’s exposure on this slimepit!
Most people here know you for what you are, Bob, a gutless anonymouse who gives every appearnce of hating his life (or lack of one), makes stuff up, and lashes out at anyone who’s better off.
I’d happily be banned here if Sabrina would do what every decent moderator does – disallow anonymous and unfounded defamation. Sabrina?
So. Dumb.
“What I’m curious about is why Sabrina allows (encourages?) Bob and helmethofer to repeatedly engage in off-topic, incredibly vicious and unfounded personal attacks.”
I am constantly deleting Dan’s (and to a lesser extent) Bob’s comments.
If you don’t feed the trolls they have nothing to troll about.
I don’t like banning people- but have done it on occasion (you know who you are.)
I prefer that people stay on the topic of real estate. I can always tell when there are changes in the real estate market because the tone in the comments changes. Right now, the market is insanely boring so people are finding other (off topic) things to discuss (crime, schools etc.) because there’s nothing much going on in the actual world of real estate. There’s not much I can do about it at the moment.
“Chelsea’s father in law was is PRISON. Look it up.”
The thing I love most about America is that it is a place where children aren’t judged on what their parents did or did not do. Children get a free slate to plot their own course. That is unlike just about every other country in the world. So I could care less if Chelsea’s father-in-law went to prison.
Joe- if you didn’t respond whenever Dan or Bob (or whomever) brought up your name- they would leave you alone. But they know you “monitor” CribChatter so they do it to bait you. Unfortunately, you take the bait every time.
“Rahm moved from a political policy role to an MD/partner of Wasserstein Perella without the qualifications nor tenure to be as such”
Um, who voted Rahm into that “policy role”? Dumbass, I said he worked in the WH, then got rich, then ran for office–you even quoted it. Your reading comp is right down there with Clio’s.
Sabrina,
You can’t possibly believe that these obsessively deranged loons will quit. Tried ignoring them. Doesn’t work. Nor should anyone be put in the position of allowing vile lies about them to stand.
Do you seriously believe that the person being slimed is responsible for it?
And why would you delete their comments in a way that makes my responses look like they’re out of left field?
It’s difficult to come to any other conclusion than that you have pet vipers who are doing exactly what you would like them to do.
“It’s difficult to come to any other conclusion than that you have pet vipers who are doing exactly what you would like them to do.”
Joe- I don’t care what you think. That’s why this is my blog, not yours.
Why are you the only one they attack personally? Because you respond to them. So yes- if you ignore them- they will go away.
Ignore them while you let their lying attacks stand.
How convenient for you, Sabrina, to have another real estate site slimed without response.
There’s a difference between trolls and crazies, and you’re coddling crazies – to what purpose?
Joe, your posts are ironic because you too are one of the deranged posters. It’s just that you’re the only one who doesn’t know it yet. Hahahahahahaha……..
Kiddie’s, did you learn todays lesson? Work hard now and live within your means, or you’ll end up old grumpy and trolling the internet to get a paycheck from crooked developers.
BTW, never liked Rahm didnt vote for the prick, i shelled out (donated) a bunch of my hard earned money to keep him from winning. But given the closest contender in the race we should all be glad he won.
Groove! You’re not dead!!
“Groove! You’re not dead!!”
or a really skillful ghost
Joe Zekas is up at 1 am on an internet site on a weeknight arguing with anonymous people. Ans calling _others_ crazy 😀
“Um, who voted Rahm into that “policy role”? Dumbass, I said he worked in the WH, then got rich, then ran for office”
That’s correct. Rahm went from an unelected position with the Clinton WH, to his unqualified role as “investment banker” with zero experience, “made” $17 million on an Exelon deal, was paid by kosher- nostra type Bruce Wasserstein…and then Rahm was a “made man” who didn’t ever have to worry about finances ever again, he then ran for his House of Rep. seat. That’s how they play the game.
I note also that Jesse Jackson or the Daleys could never come up with that nostra-type money for their nepotism, not $17 million for a couple of years. Nowhere near what committed Waserstein-types come up with for their people. Wall Street is full of frauds, let Joe Zekas come to their defense like he’s been well-trained to do. But with Mezvinsky, LIBOR fixing, MF Global, and so many other events, it’s just not reasonable or sane to defend it.
“Joe Zekas is up at 1 am on an internet site on a weeknight arguing with anonymous people.”
he has gotta pay the bills some how.
“$17 million for a couple of years”
It was $18m for 2.5 years:
“He earned more than $900,000 in 1999, his first year at the firm; nearly $1.4 million in 2000; and $6.5 million in 2001, when he left the firm in midyear to run for Congress. He collected $9.7 million more from the firm in deferred compensation in 2002.” –nyt
And much of the big payout came courtesy of the sale of WP to Dresdner.
‘spose you’ll tell us that was disguised reparations, from the preferred bank of the SS.
“It was $18m for 2.5 years”
LOL, and the best the Daley dynasty could do for their own, was to get a nephew a pension fund loan and/or management account. Nothing like Rahm, not even close. What did Jesse Jackson get for his family, some kind of Budweiser distributorship or something? Obama gets the proceeds from a ghostwritten book and a RE deal that involved Rezko, whoop-de-do…..it’s all peanuts compared to Rahm’s kosher-nostra windfall. You’d have to be a total idiot, or a JZ-type dupe, to think that $18 million was normal and arms-length. You’d have to be a total fool.
“the Daley dynasty could do for their own, was to get a nephew a pension fund loan and/or management account”
Pat Daley got $1.2m for having a couple of lunches. And, of course, the old man took care of himself pretty well.
“You’d have to be a total idiot, or a JZ-type dupe, to think that $18 million was normal and arms-length.”
Yeah, totally reparations from the SS Bank.
“Obama gets the proceeds from a ghostwritten book and a RE deal that involved Rezko, whoop-de-do…..it’s all peanuts compared to Rahm’s kosher-nostra windfall. ”
Obama got the ultimate prize–the presidency. Do you think Kissinger had thoughts that this guy might be the perfect candidate one day to further their goal of disempowering the straight, white male and trying to de-emphasize the success that comes along with the normal, nuclear family?
Basically do you think Kissinger would’ve given that job to a white guy that wasn’t a Jew? Keep waiting for Godot on that one.