“Unbelieveable value” in Aug 2008 Still Available and Reduced $35K: 3110 N. Sheridan
We last chattered about this 2-bedroom unit at 3110 N. Sheridan in East Lakeview in August 2008.
At the time, I asked if it was a “deal” given its location as it was a 2/2 and priced under $300,000.
See our prior chatter and the pictures here.
It has since been reduced by $35,100.
This 2-bedroom unit has a unique layout as it was a 1-bedroom and studio that were combined.
It doesn’t have central air or a washer/dryer in the unit. But it does have deeded parking.
It was listed as an “unbelieveable value” 10 months ago so what does that make it now?
Alan Berlow at Coldwell Banker now has the listing. See the latest pictures here.
Unit #1710: 2 bedrooms, 2 baths, no square footage given
- Sold in March 1990 for $220,000
- Sold in September 1998 for $135,000
- Sold in July 2002 for $237,000
- Was listed in August 2008 for $285,000 (parking included)
- Reduced
- Currently listed for $224,900 (plus $25,000 for parking)
- Assessments of $645 a month
- Taxes are $2480
- No central air- window units
- No w/d in the unit
- Living room: 21×10
- Dining room: 9×9
- Kitchen: 9×6
- Bedroom #1: 19×17
- Bedroom #2: 15×11
With the parking (i.e., at $249,900), the appreciation on this is an almost perfect line from 1990 to 2002 to 2009. At 0.6222%/annum.
Yep, less than 63 bips/year in gross “appreciation”.
I used to live by this building. It creeped me out whenever I walked by. For the 2 years I lived nearby, there was a nonstop construction project on the fascade.
Looks like a CHA building. High assessments.
Fail.
Godawful fugly midcentury modern. Its buildings like this that give me nightmares.
really, who would buy any unit in this building?
> really, who would buy any unit in this building?
Maybe the blind?
>> really, who would buy any unit in this building?
>Maybe the blind?
No, that gives the building too much credit.
Why are so many of the condos along the 2800-3300 Sheridan so bad? It’s a great area and I would loved to have bought around there but even at their prices it just wasn’t worth it.
ewwwwwwwwwwww no thanks, i’ll pass on this “unbelievably” terrible unit.
The reason those condos are so bad is because MidCentury Mod architecture is so bad. Most of those buildings were built between 1945 and 1970, a period of atrocious domestic architecture. How many of us in here spent at least a portion of our childhoods in some fugly Post-WW2 ranchhouse.
You could tear down 90% of what was built in that era and it would be no loss to the cityscape.
I remember that as a child living in a barren little mod ranch house, I would steal over to one of the town’s old streets that was lined with elderly trees that met over the street, and small, decorative old houses. I would stare in the window of one because I loved the ornate old furniture, the graceful circular staircase, the lamp with the crystal prisms, and the floral wallpaper.
I’ve refined my taste since, but I never learned to love barren, sterile modern architecture.
I park my car in this building–even the parking spaces are unpleasant. The ceilings are way too low, the stairs one has to take (because the elevators go to very second floor) are too narrow and steep. The pool at the top of the building is being renovated, it was dreadfully run down, but it will still be small. The whole place feels like a prison. Only a pretty good management company keeps this place from becoming a slum.
I agree with the other posters here, this is really a bad building that has deteriorated past the point of no return.
One question, what happened in ’98 to warrant such a drastic drop in the price? I am guessing foreclosure? At this point, I think pricing in the $150-$175k neighborhood would be appropriate.
The only thing that would save this, and many other buildings along this strip (and a few along Lake Shore Drive as well) would be a major infusion of cash to update not only the units, but the interior common areas and the exterior. Or, buy at a huge discount and do a tear down.
Not to bring up NYC once again, but the remaining 50s-60’s era residential buildings similar to this one have undergone top to bottom renovations. They end up very nice and earn the title of ‘mid century masterpiece’. So it is possible, but I doubt this type of project would appeal to anyone at this time.
Sad situation….
While i agree that this building is sorta ugly, i look at the interior as a blank canvas. The bones are adequate, all it needs is some fun paint and furniture and it could look awesome.
Exacly the kind of unit the would benefit from being staged.
The place is a sow’s ear. The worst feature is the height (or lack of) of the ceilings. Just one more foot would have made a big difference. But that’s how people built in the 50s and 60s.
The only way you could make nice apartments out of these is to gut the building, and rebuild on the inside. Obviously, you’d want to put in good insulation, for buildings of the post-WW2 era are notorious energy guzzlers in spite of being small, cramped, and having 7.5′ ceilings. You would obviously need new windows. Then, duplex the apartments one over the other, and have the living room partially opened to the second floor, with a gallery around it.
I think it IS staged.