Gut Renovated into a Modern Showcase: 340 W. Diversey in Lakeview
This 1-bedroom modern unit at 340 W. Diversey in Lakeview is the result of a 6-month down to the studs complete renovation that took it into the new century.
The unit was formerly a two bedroom but now is a spacious one bedroom with a huge 20×34 living/dining space.
There are no traditional cherry cabinets here. The kitchen has european flair with Scavolini cabinets, and Bosch, Liebherr and Grohe finishes.
The two bathrooms have also been updated.
While the unit has central air, it doesn’t have a washer/dryer in the unit (it’s not allowed by the building.) Parking is also rental in the building.
Vik Wadhwa at Modern Chicago Homes has the listing. (It is agent owned.) See more pictures here.
Unit #2018: 2 bedrooms, 2 baths, no square footage listed
- Sold in August 1993 for $167,250
- Sold in July 2005 for $260,000
- Currently listed for $379,900
- Assessments of $727 a month (includes heat, a/c, cable, doorman, pool)
- Taxes of $3547
- Central Air
- No in-unit washer/dryer
- Rental parking
- Bedroom: 14×11
- Living/dining: 20×34
- Kitchen: 12×10
I love the unit (minus red zebra sink), but the assessments are high and I hate the idea of valet parking. I would pay more to have them NOT drive my car.
How dare they list it as a 2BR when it’s described as a 1BR. Reprehensible, not matter how “easy” it would be to convert.
It is pretty but the no in unit laundry is a killer for me
This place would be awesome if it had
1) No valet parking
2) Washer Dryer in unit
3) an honest listing agent (listed as a 2br? seriously?)
Beautiful unit but it is probably over renovated for the building. I have seen way too many people pimp out their unit with top of the line everything like this and then wind up having to take a big loss because no one wants to pay the premium relative to what they can get elsewhere in the building for unrenovated units.
In addition, the folks with the income to appreciate this type of stuff generally don’t want to buy in a lower tier development with a lot of renters, no parking, and no washer and dryer. The building will never be a higher income/luxury building. This is the same problem the penthouses that are always listed on CC never sell at these mediocre buildings.
Beautiful unit…not necessarily over renovated as I have seen many remodeled units in this building. Since people are having a hard time getting home equity loans someone might prefer the renovated unit rather than financing a unit remodel themselves. Don’t like the floors…would have done hardwood…and the assessment is high for a 1 bedroom. Also, I would have done this on a unit with a better view, however — facing the park and downtown. It would have been a better return.
I agree with Ross on this one
I couldn’t have said it better!
The biggest problem with this is the NORTH facing view.
This building is right on the cusp of the park. The view to the south, especially from the higher floors, is jaw-droppingly gorgeous and since you’re in front of the park, there will never be anything to block it.
The north view, however, is just a hospital and a bunch of shabby post-war high-rises.
Living on Lakeview Ave, I’m loving all the recent coverage of my hood (with yesterday’s modern mansion thread)!
Here’s one for Sabrina to look into, or anyone on here who might know: What’s up with the place on the southwest corner of Wrightwood and Hampden? I’d be curious as to its history, current occupants, etc. If you’ve never seen it, it’s worth taking a look. Fantastically opulent.
“What’s up with the place on the southwest corner of Wrightwood and Hampden?”
Dewes Mansion. Was an event space, but closed (by court order) for life-safety type repairs. Don’t know what’s happened since then (4-5 years ago).
Anyone?
Dewes Mansion- Some rich construction company heir and his young family. They also own Oprah’s old farm in Ind(I think).
“The biggest problem with this is the NORTH facing view.”
This is flat out wrong. The biggest problem is the over-renovation. Period. We are in a great recession or a depression. No one is paying up for an over-renovated unit. For every dollar the owner put in, they will be lucky to get a quarter back.
In normal times, you don’t make money off your renovations, and I can’t imagine how you can turn a 2 bed into a 1 bed and hope to make a profit.
It’s a beautiful reno, but prospective buyers might have ideas of their own about renovations, and might prefer to pay for their own choices and not someone else’s.
dewes mansion was being turned back into a SFH, not sure if it is still in the cards
“dewes mansion was being turned back into a SFH”
do you know, on spec or for a particular client?
I just saw something here (http://www.michiganavemag.com/livin-large.html) about the Dewes mansion, “the singularly jaw-dropping German Baroque Dewes Mansion, recently converted back to a 16,000-square-foot single-family home by a hot young couple.”
It’s cool, but not terribly functional. Is anyone else struck by the unusability of the kitchen? There are no cabinets–and yet feet upon feet of blank wall, on both sides, doing nothing.
Nice unit, but way over improved for the building.
And what’s the thing with San Pellegrino water bottles? it’s not the first time I see them as a part of display/design!
I love the kitchen (I would have put one more cabinet on the wall to the right of the cook-top) and the choice of bath tile… but I’m not a fan of the “on the counter bowl” sinks… hate the look. Would much rather have a solid one piece Vessel or La Cava sink. They also skimped on the tub (at least in the photo shown).
I’d also lose all the glass fixtures and table tops and leather sectional… way to 80s. Go with high end fabric sectional and nice, classic Scandinavian designed furniture… lots of woods. You have plenty of glass with the windows.
Is the listing agent the owner? This could be a nice advertisement for his Modern Homes brokergae more than a “flip”. Tough price, but typical buyers will pay more for a highly finished unit rather than buy their own outdted unit despite the better investment… I see it over and over. Everyone’s a rehab expert on this site (some even actually know what they are talking about which is great), so it’s not typical to the majority of the housing market.
“And what’s the thing with San Pellegrino water bottles? it’s not the first time I see them as a part of display/design!”
They’re above the range so I dunno… expensive fire extinguishers maybe??
“I just saw something here … about the Dewes mansion”
Held in a land trust. Fred Latsko has had something to do with the property, but I wouldn’t say whether as developer, owner or both.
LOL @ the bottled water over the range.
Brilliant.
“This kitchen’s for regular water, not fancy water.”
I thought the renovation of the Dewes mansion was complete and the couple was living there. So said a friend who lived in the rental across the street.
Notice how the bathroom opens directly into dining area, so guests can see the toilet while they eat – or host keeps running over to close the door…
This kind of trendy remodeling is generally a poor purchase, soon to be dated, and eventually becoming a “white elephant” decor. I’d prefer an unupdated unit so improvements can remain in context of original architectural design (Mies) and eventual resale market (noting jarring trendy).
who is this “hot couple” in Dewes…is chaz one of them?
I lived at 515 Wrightwood by the Dewes mansion until recently. I saw an older lady sitting outside reading fairly often during the summer so I assume she lives there. Never seen anyone else there. There’s also a second house (maybe a guest house, i don’t know the correct terms) of the same design next to it which I believe is being rented as multiple units. I saw young adults going in and out often and a U-M flag in the window.
As far as Commonwealth Plaza is concerned I definitely disagree with Russ on this being a “lower tier development with a lot of renters”. 330 and 340 W Diversey are Mies Van der Rohe buildings and the occupants seem fairly well off IMO. There are some renters (including my gf and two friends and their next door neighbors) but I think it’s mostly owner occupied. Not to mention LOTS of nice cars in the garage. We found the valet very easy (it’s $145/mo if you’re wondering, one spot guaranteed per unit).
I think #2420 in this building is more for your money, even though it’s not as updated. 4 bedroom converted into a large 2 bedroom being offered for $455,000
It’s Chaz and Suzanne.
no, its bradford and his red socks
no, its latsko and hunt.
i’d be careful with valet parking, have it in my current building and am not a fan. it’s an excuse to cram a ton of extra cars into a space and at busy times it can be a pain in the ass trying to quickly get your car.
it’s not a huge deal, but it’s definitely not a perk and it’s not something i would do if i had a really nice car.
perfectly done. this is a true home in the city. the valet service is nice, and laundry service can take care of the washing – plebes like sonies wash their own skivvies.
I’m not sure I’m a fan of the red wall that the TV is mounted on; it chops up that space a bit. I wonder why they went that route? Has anyone seen anything like this before?
we have valet, i wouldnt say it sucks but it’s def not as convenient or “nice”. though some of the guys working down there are nice enough.
Mrs B its to prevent glare from the windows interfering with the TV, plus improve TV viewing; darker the color the better for contrast; but the color can be changed to taste.
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MrsB on December 2nd, 2009 at 4:31 pm
I’m not sure I’m a fan of the red wall that the TV is mounted on; it chops up that space a bit. I wonder why they went that route? Has anyone seen anything like this before?
“
Interesting.
Thank you.
More like Chaz and his craigslist boi of the night…..
“More like Chaz and his craigslist boi of the night”
That’s what I thought, too, but didn’t say anything b/c (1) none of my business and (2) who cares, anyway?
So with valet parking, are residents expected to tip the guy every time the car is picked up?
I like the kitchen a lot (although I agree it should have some more cabinets above the counter tops) – no hideous giant stainless steel out of place looking appliances and clean looking cabinets.
But I wonder about the exhaust hood. Do you think it’s a real exhaust or just for looks? I don’t think I’ve seen many (any) actual exhausts in a highrise – hard to blow the air outside unless you’re right under the roof.
Otherwise, nice job on the deco, but totally overdone for this building and the lack of washer/dryer will keep many buyers away.