Can An East Lakeview 6-Bedroom House Command Over $3 Million? 550 W. Oakdale
We’ve seen a few Lakeview houses sell in the past year for over $3 million (most notoriously the house bought by the new Cubs GM in Southport) but there haven’t been many on the market over $3 million in East Lakeview like this new construction house at 550 W. Oakdale.
The 7000 square foot house has a 53 foot atrium center and radiant heat floors.
It has ten foot ceilings and eight foot doors.
The kitchen has the usual upscale appliances like SubZero and Viking.
The house has 4 decks and parking for 4 cars on a 25×140 lot.
And if you’re wondering how you’ll cool it all, the house has 4 HVACs.
Listed at $3.2 million, can a single family home in East Lakeview command a price over $3 million?
Marius Tatarunas has the listing. See the pictures here.
550 W. Oakdale: 6 bedrooms, 4 baths, 3 half baths, 7000 square feet, 4 car parking
- Originally listed in June 2012 for $3.2 million
- Currently still listed for $3.2 million
- Taxes of $37,897
- Central Air
- 4 Decks
- Bedroom #1: 20×15 (third floor)
- Bedroom #2: 15×18 (second floor)
- Bedroom #3: 10×14 (second floor)
- Bedroom #4: 12×18 (second floor)
- Bedroom #5: 10×15 (second floor)
- Bedroom #6: 11×22 (basement)
Not this house. Its poorly executed and that staircase is awful. The SoPo House was much more elegant and wider.
They’d be lucky to get $2m. Very poorly executed and not great location for SF (50′ from Broadway). This one will be going back to the bank.
“This one will be going back to the bank.”
It’s funny because every single new construction home that someone on here has said was “going back to the bank” never did.
If you want new construction in East Lakeview what’s your other choices?
By the way, the CCRD was down all weekend so today’s posts will be either new construction or something we’ve chattered about before (because I have the data for that.)
“If you want new construction in East Lakeview what’s your other choices?”
But if you have $3 million to spend, why would you be set on East Lakeview rather than Lincoln Park or the Gold Coast? I’d think a location in East LV would be considered a detriment compared to LP or GC, and so a home like the one in the OP would have to provide greater value than one in the other two areas, but there are homes as good or better in LP (and perhaps GC as well) in the $3 million range..
332 W. Oakdale sold for $1.95MM back at the end of March. In my opinion, it’s much nicer. Not sure how this can command an additional $1MM.
If I spent 3 million in ELV, I would expect a wider lot than a standard lot. Otherwise, I could live in LP or GC. Even the SoPo house which is beautiful was 35 foot wide lot.
I think LP and the Gold Coast are decidedly unhip, LV still has enough grit to set it apart, and some people actually want that. Or just ask R. Kelly!
“But if you have $3 million to spend, why would you be set on East Lakeview rather than Lincoln Park or the Gold Coast? I’d think a location in East LV would be considered a detriment compared to LP or GC, and so a home like the one in the OP would have to provide greater value than one in the other two areas, but there are homes as good or better in LP (and perhaps GC as well) in the $3 million range..”
If I am spending this much money, I would want the toilet in its own closet.
This area of LV is very busy with a bunch of single people in tall towers and less of a family area. Wouldn’t you want to live more near Southport where in a big house like this with little kids (just like Theo)?
“7000 square feet”
Only by rounding up and not deducting anything for the “atrium”. Footprint is right about 1750, but 4th floor isn’t 1750 inside, and that 1750 is measured to the exterior of the walls. Measuring to the inside of the walls, more like 1600 sf interior foortprint, which gets to ~6000 sf, maybe, again w/o accounting for the “atrium”.
Lovely 4+1 and craptastic apartment building right across the street and broadway right there… lol no
That staircase is totally screwing up the whole house, where’s the dining room near the kitchen? Look at that curved bedroom wall, I mean wtf is going on here
“Lovely 4+1”
The three 4+1s are really bad for an otherwise nice block.
And, again, Sabrina pic is better than the listing pic.
you would think for this price, they’d at least stage it. That staircase is just wrong and the entire layout seems hard to work with.
At this price I would much rather get a wide lot, as others have mentioned.
Oh, and for $3mm, why are the ducts in the top floor room exposed?
Ha ha ha, love the haters.
Look folks, East Lake View didn’t ask for “the urinator,” he just showed up, all’s I’m saying is there may be more… whether people like it or not, ELV is chock full of all kinds of weirdos and freaks, and not all of them are living hand to mouth as tranny hookers.
3 million? bahahahha
Ok I agree that for $3 million there are many other contenders that give this listing some trouble. My personal favorite would be:
http://cribchatter.com/?p=13587
Sure people can complain about the location here as well but really the only reason that most plunk down $3 million on a home is to show off and piss off friends. Look how important I am! Don’t you wish that you lived here. Etc….
What I can not figure out is how they got 4 garage spots on a 25 foot wide lot. Are they talking 3 mini coopers and a Fiat? Is that four spaces in tandem fashion? That would be good but on a 140 foot deep lot how much does that take out of the now nonexistent yard?
“What I can not figure out is how they got 4 garage spots on a 25 foot wide lot. … Is that four spaces in tandem fashion?”
Maybe lifts?
Lifts – good call Anon. That could be true. Saw that in a home in Vail a long long time ago. I thought that it was ingenious design idea as the footprint of that home was quite limited due to the slope of the lot. There it made complete sense. Now here it is a pita. Unless you are a collector that will keep two of the cars stored almost permanently it would be annoying to have to get car one out to drop car two and put car one back up or down the elevator. Makes our tandem spot seem awesome!
Here is another option. Skip the added two bedrooms and all those extra half baths. Who needs to have a toilet that close at all times. That way you save $1 million upfront and 18K per year on taxes! Sure you have to add in the 36K for homeowner dues but you will still have plenty of money to put up the in-laws at the Four Seasons or Peninsula all three times per year when they visit.
In the end you can brag that you own a penthouse in East Lincoln Park only a few blocks from the mini mansion. This one is way more my style however I’ll pass on both homes.
http://www.redfin.com/IL/Chicago/2600-N-Lakeview-Ave-60614/unit-8B/home/13366186
“Who needs to have a toilet that close at all times.”
At least two regulars.
Visited a SFH on Astor St many moons ago that had these – I felt like I was going into the batcave.
“Lifts – good call Anon.”
This is a great buy considering the the area and proximity to the lake . The staircase is just one aspect that makes this house unique. The finshes are all first class and elegant There is more outdoor space than any place on the block. This would be a great house for a family the enjoys city living.