One 3-Bedroom Unit Sells and Another Returns To Try Again: 3505 N. Janssen in Southport
We last chattered about this top floor rehabbed 3-bedroom at 3505 N. Janssen in the Southport neighborhood of Lakeview in August 2010.
See our August 2010 chatter here.
At that time, it was listed $12,500 above the 2006 purchase price.
Most of you thought it was overpriced at $545,000.
Dave M guessed a sales price of $440,000 as the sellers were “disconnected from reality in the neighborhood.” Laura thought $375,000 would do it.
The unit was withdrawn in December 2010.
Then in February 2011, Unit #3, the unit directly below Unit #4 and with similar finishes came on the market.
It was priced $40,000 under the 2007 purchase price at $485,000.
We chattered about that unit too (kind of.) See our prior chatter on Unit #3 here.
That unit sold for $470,000 in May 2011.
NOW-
After the comp of Unit #3, Unit #4 has returned to the market at the new price of $495,000, or $37,500 under the 2006 purchase price.
If you recall, this building is located in what many people consider to be “prime” Southport, it is just a block away from shops and restaurants and a short stroll to the Southport Brown Line stop.
It’s in the Hamilton school district.
It has all the bells and whistles of a recent gut rehab, including cherry floors and stone baths.
The kitchen has stainless steel appliances and granite counter tops.
It has outdoor space in a private wrap-around terrace.
It also has central air, washer/dryer in the unit and parking.
We know it’s not going to command over $500,000, but with Unit #3 as a recent comp, it this now priced to sell at $495,000?
Gregory Desmond at Prudential Rubloff still has the listing (and he had the listing for Unit #3 too). See the pictures here.
Unit #4: 3 bedrooms, 2 baths, no square footage listed
- Sold in January 2006 for $532,500 (parking included)
- Originally listed in June 2010 for $545,000
- Was still listed in August 2010 at $545,000
- Withdrawn in December 2010
- Unit #3 lists in February 2011 for $485,000 and sells in May 2011 for $470,000
- Re-listed in May 2011 at $495,000
- Currently still listed at $495,000 (parking included)
- Assessments of $232 a month
- Taxes of $7437
- Central Air
- In-unit washer/dryer
- Bedroom #1: 15×10
- Bedroom #2: 10×10
- Bedroom #3: 13×12
TV over the fireplace – so wrong! Ugh!
Otherwise, this unit has some positives. The location is indeed excellent. I’d like to live on that street. The convenience to Southport and the L is excellent.
The third bedroom at 10X10 is a bit small to call a real bedroom. Maybe it would work as an office.
And of course there’s the usual inconvenience of being in a tiny condo association. You never know if the others in the building will be jerks who refuse to help on upkeep. The low assessments make me wonder about the size of the reserve. But low assessments are nice.
Taxes seem pretty high. But parking, low assessments, central air make up for that.
$1.5MM penthouses
$500k 3BRs
SoPoor is SoHotHotHot
Ok, seriously, “Southport” is a street, not a neighborhood.
It’s bad enough the realtor/Reader/Tribune have mangled Lake View into one word, which leads to seeing typos like “Lakeview High School,” but this is just silly –
A neighborhood name needs to MEAN something – Southport runs all the way south to Clybourn, and I know for a fact that nobody south of Diversey thinks they live in “Southport” as opposed to Lincoln Park.
This is as Wrigleyville as it gets, you’re almost on Addison and you’re barely 1/4 mile from the park.
Standards, people. You have got to have standards.
“you’re barely 1/4 mile from the park”
?? *another* wormhole I hadn’t heard of?
Google maps puts it at .6.
I predict $480 gets it done.
Kick ass unit. Large, 3 bedrooms. Stylish. Great location. I love it. Too bad the current owners are choosing not to raise their family there. I see the crib and I always wonder why they want to move out of such a gorgeous home.
You know what is even weirder than the new homedelete? That the new homedelete reportedly has a baby. I have been following this blog almost from the beginning although I rarely comment. This baby thing from a few weeks ago is almost as shocking to me as if this homedelete transformation was real.
Why is that so shocking that I have a baby? We are all just characters on the internet providing entertainment for each others eenjoyment. Or is it that we’re irritating each other llike in No Exit. I always forget.
Like does anyone really believe for even a second that gz is a coffee farmer/quant in brazil? Or that anon(tfo) is anything but independently wealthy and chooses to hang at home on the nets allday? OOr that clio who is a doctor allegedly has time to post in between surgeries and meeting with patients all day?
“Ok, seriously, “Southport” is a street, not a neighborhood.’
Skeptic- you’re wrong. Roscoe Village is part of North Center. Does anyone call it that? Nope.
Southport is clearly a neighborhood within Lakeview (and yes- I spell Lakeview as one word too.) It is referred to as such by the people who live there as well as merchants (and, of course, the realtors.)
Just because people who live on Southport in Lincoln Park don’t consider that the Southport neighborhood has nothing to do with what happens a mile to the north. The people who live at 600 W. Roscoe don’t consider themselves as living in Roscoe Village either.
I only consider “Wrigleyville” as the area east of Racine. But that’s just me. There are no “official” boundaries. It really IS like night and day. Maybe you should go to the two neighborhoods on game day and then report back.
Sabrina’s right. On game days, Southport feels very disconnected from Wrigleyville just like Broadway St does on the East side. All the buzz and debauchery runs north and south along both Clark and Sheffield streets.
I understand the appeal of this place to many, but the rehabbing took all the charm out of this place.
And I hate… HATE the kitchen/DR/LR combo. To me, that just screams that this was once a 2 bedroom that they converted the kitchen into a bedroom.