The Gut Rehab 3-Bedroom: 3505 N. Janssen in Southport
This top floor 3-bedroom unit at 3505 N. Janssen in the Southport neighborhood of Lakeview was a gut rehab in 2006.
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 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.
The unit also has a feature many condo buyers crave: a separate 10×4 laundry room.
Gregory Desmond at Prudential Rubloff has the listing. 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
- Currently listed at $545,000
- Assessments of $232 a month
- Taxes of $7631
- Central Air
- In-unit washer/dryer
- Bedroom #1: 15×10
- Bedroom #2: 10×10
- Bedroom #3: 13×12
regarding this price, I quote the soothsayers from Cypress Hill:
“Insane in the membrane, INSANE IN THE BRAIN!”
that is all.
Taxes!!!
Floorplan!!!!
Looks like something around 1450 SF, maybe a bit more.
Ouch, those taxes are insane. Especially since it was a gut rehab of an existening building and not new construction. I don’t see this one fetching more than upper 400s
The exterior is rather drab, IMHO.
WTF with that price? About 150K more than I could possibly justify. I renew my consternation as to why anyone would want to invest their money in a laundry room, but I guess it is because I’m single and send out all my laundry for others to do.
Baby Crib!
Yeah I really love the neighborhood I know some people that live on Cornelia in a greystone, and there are tons of greystones on this street but would never own a condo here, this is a SFH neighborhood
“The unit also has a feature many condo buyers crave: a separate 10×4 laundry room”
to have that and a full sized third bedroom? isnt that worth the premium for a condo in a nice area?
500k with parking is it really that bad for this? (assuming taxes are protested and get back to normal)
I think $440,000. This price is completely disconnected with reality in this neighborhood. Those who bought in 2006 are taking 20% hits at a minimum in order to sell. Good luck.
$500K will get you a pretty nice house in Lincoln Sq or North Center, I’m not seeing proximity to the Music Box and the slowest L line in Chicago as all that great a deal. Which school dist is this?
“$500K will get you a pretty nice house in … North Center”
Lot of options currently available for under $600k. Have to really prefer a condo and/or living in SoPo(or) to consider this one.
Was walking around Lincoln Square last night and noticed that it is feeling more and more like Southport. More LPTs, more high-end strollers, more designer cigars being smoked. Kind of made me sad. Seems like it is becoming one of those hoods where 20 and 30s somethings hang out for a while before moving to the surbs with their first kid. What do others think about how Lincoln Square is changing? Are there still families who are raising kids there now that you think will stick around for the next 20 years?
“What do others think about how Lincoln Square is changing? Are there still families who are raising kids there now that you think will stick around for the next 20 years?”
Which part are you talking about? The area right around the square and south toward Welles Park/Sulzer Library? Or the larger area further north?
b/c the area around Welles seems to be more people more likely to stick it out. The wildcard for families is–as always–what happens after 8th grade.
500k can get you a sweet azz place in edison/norwood or edgebrook.
shoot, where i live 500k and get you 4 houses.
OUCH! Property Sold for $532,500 back in Feb of 2007. Notice the crib in the pictures. Looks like they are trying to get out and move for the kid.
They might end up having to take a hit to get it sold.
So touching to think people really think there property is different and not worth $100,000 less than they paid for it 4 years ago.
James they likely know it isn’t. They probably just loaded up on the credit Kool Aid during the boom and have no equity in this house and can’t bring money to the table for closing.
Listing in the hail mary hope of finding a greater idiot is free, however.
“They probably just loaded up on the credit Kool Aid during the boom and have no equity in this house and can’t bring money to the table for closing.”
No idea on the $ to closing aspect, but it was purchased with 100% financing, then the 1st was refi’d into a conforming loan, so they probably have over $9k in “equity” based on purchase price.
Or 1.65%.
Or -20%.
I live a few blocks from here. We have a 3/2; larger than this one – eat-in kitchen plus formal dining room; many, many more vintage details. No laundry room (stackable W/D in a closet off the kitchen), and our master bath doesn’t have a double vanity. Appliances, cabs, countertops look similar. We have ceramic tile in the bathrooms, not marble/slate. But we paid $370k in 2004 and a (slightly larger)unit in the building sold last year for $355 (ouch). And a 3/2 in the newer building on our block recently sold for (I think) $339 in a short sale. I’m not sure what they think justifies the higher price.
This would be a more attractive apartment if they’d closed the kitchen off and kept more of the vintage details in the living room.
Price is way out of line even for Southport. I would think around $375K.
W.Rogers Park has THOUSANDS of places like this or much better for less than half the money…. who knows what neighborhoods will be “hot” in 10-15 years? I believe all lakefront neighborhoods will be, so maybe I’ll just buy a whole three-flat just like this and sit on it for a few years, until oil’s at $300/barrel and suburbanites are flooding the city.
Blaine school would make this better. I think it is worth less than 500K. It is a nice top floor unit. I wish I lived on the top floor.