Should You Buy a 1-Bedroom? Vintage with W/D in East Lakeview for $299,000: 726 W. Sheridan
This 1-bedroom in a vintage courtyard building at 726 W. Sheridan in East Lakeview came on the market in June 2025.
Built in 1920, this courtyard building has 44 units and a shared stone-paved courtyard with common grills, tables and chairs.
Converted to condos in 2002, it is pet friendly and has a dog run.
This is a top-floor unit with hardwood floors.
It has a separate dining room which looks like it used to be the living room in prior sales (the living/dining rooms are now flipped.)
There’s a formal entry foyer.
The kitchen has white cabinets, stone counter tops and stainless steel appliances.
The unit has some features that buyers look for including an in-unit washer/dryer, but it does not have central air. It has only window A/C units. It also does not have parking. There is parking in the neighborhood.
It has a large private brick balcony that overlooks the courtyard.
This building is walkable to Wrigley Field, the lake front, breweries, restaurants and shops on Broadway, and the Southport neighborhood and is near the Red line subway and various bus routes.
Listed at $299,000, that is $56,000 above the 2021 sales price of $243,000.
With rents rising, are starter 1-bedroom condos back in vogue again?
Niral Patel at Compass has the listing. See the pictures and floor plan here.
Unit #3S: 1 bedroom, 1 bath, 915 square feet
- Sold in August 2003 for $230,500
- Sold in May 2007 for $255,000
- Lis pendens foreclosure filed in December 2014
- Bank owned
- Sold in July 2015 for $180,000
- Sold in November 2016 for $201,000
- Sold in June 2020 for $230,000
- Sold in April 2021 for $243,000
- Currently listed at $299,000
- Assessments of $523 a month (includes heat, cable, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $4153
- No central air (window A/C units only)
- Washer/dryer in the unit
- No parking
- Bedroom: 13×10
- Living room: 14×12
- Dining room: 16×12
- Kitchen: 17×9
- Foyer: 15×4
- Balcony: 14×7
This isn’t a starter condo, it’s someone’s endgame
Finishes aren’t going to help
Would also show better with the LR/DR flipped back.
“Would also show better with the LR/DR flipped back.”
Unclear.
Perhaps the big television fits better in the layout of the dining room than it would in the original living room.
No one wants to talk about the paint colors? Will that intimidate some buyers? Some may love it, but others might hate it.
“This isn’t a starter condo, it’s someone’s endgame”
What do you mean JohnnyU? It’s clear from the listing history that most stay just a few years. It’s clearly a starter unit.
And with prices on the rise again, after 20 years, you CAN, apparently, buy and sell in 3 or 4 years, and cover the transaction costs. Do I recommend this? No. But it was pretty common before 2005, thanks to the stronger market.
Also, I am patting myself on the back for finding the picture of this building. I thought I had taken one at some point, but we have never chattered about this building before.
I had to go all the way back to 2011 to find it, but find it I did.
Lol.
why would anyone buy something like this? it’s obviously not a “forever home” and buying a place like this will just tie you down and restricts future moves.
Point being – buy something that is going to go up significantly in value or buy a forever home – this place is neither one of those things
I think the younger people are getting smarter and just renting…..their ego is not tied to “owning” anything…..(other than bitcoin)
how much would this rent for? 2500?
bc if someone put down 20% at 300k – their costs would be about 2300……
and that’s not including all of the repairs or loss of interest on the 60k put down as well as the haircut that the owner will take when selling….all to save 200/month?!! and yes, they can deduct the mortgage interest and taxes – so maybe their true costs would be closer to 2000/month
still not worth it
“why would anyone buy something like this? it’s obviously not a “forever home” and buying a place like this will just tie you down and restricts future moves.
Point being – buy something that is going to go up significantly in value or buy a forever home – this place is neither one of those things”
someone looking to buy a 1/1 clearly aren’t looking for their forever home. there’s a lot of people that just don’t want to rent and are willing to pay a bit of a premium for It. rental market is supper competitive and can restrict moving as well.
can you identify a home that will definitely go up significantly?
I don’t know anyone who would pay a premium to own a place like this – it seems like renting until you can afford something more permanent would be the way to go…….
in terms of a house that will significantly go up in value – it would have to be a great deal in a great neighborhood (eg fixer upper or inherited house that the heirs just want to unload in winnetka, kenilworth, elmhurst or a number of “hot suburbs”
Clio, we’re talking about a 1/1 in Lakeview, not a 2 million fixer upper in winnetka.
not a 2 million fixer upper in OAK BROOK
fixed it for you
there are a lot of bargains in oak brook right now – it’s definitely not a “hot suburb” lol
“there are a lot of bargains in oak brook right now – it’s definitely not a “hot suburb” lol”
Silent Generation and Baby Boomers leaving. Millennials and GenZ might not like Oak Brook. May want Arlington Heights, LaGrange instead.
Lots of big McMansions in Oak Brook.