We Love Contemporary 2-Bedroom Penthouses: 919 N. Wolcott in West Town
Last spring we chattered about a 3-bedroom contemporary penthouse at 919 N. Wolcott in West Town with luxurious finishes.
The modern unit sold not long after our chatter.
See our prior chatter and pictures here.
If you missed out on that one, you’re in luck, as the “sister” penthouse unit, Unit #302, is currently on the market and has similar finishes and features.
This one has been converted from a 3-bedroom to a 2-bedroom but it also has two outdoor spaces including a private 9×15 terrace off the master bedroom and a large 11×26 terrace off the great room.
It has a top of the line Arclinea kitchen with Miele and Gaggeneu appliances. The massive kitchen island also has a modern stainless steel counter top.
There is, of course, central air, an in-unit washer/dryer and parking.
Unit #301 had been listed in March for $700,000 and sold for $675,000 in May 2010.
Robert John Anderson at Baird & Warner has the current listing. See the pictures here.
Or see it in person at the Open House: December 5, 1:00-3:00 pm
Unit #302: 2 bedrooms, 2 baths, 2 car parking
- Sold in March 2004 for $430,000
- Sold in July 2008 for $707,500 (included the parking)
- Originally listed in August 2010 for $700,000
- Reduced
- Currently listed for $689,000 (plus $18,000 for parking)
- Assessments of $284 a month (includes water)
- Taxes of $6096
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 14×14
- Bedroom #2: 10×12
- Family room: 10×11
This is a beautiful unit – but as we were talking about in other threads, this neighborhood may not stand the “test of time”. I would say it is in the “slight to moderate risk” category of not retaining its value in the future. However, if someone loved this neighborhood, didn’t need a bigger place, and had money, this would be a great home for them (from a non-financial perspective).
I like the outdoor space and finishes in this place.
For this price, I’d want a true 3 bedroom. I guess some of the bedroom space was turned into living space unless there were 2 bedrooms that were 7×14… In my opinion, if you are going to sacrifice a bedroom you had better get a pretty posh master bedroom out of it – not a 14×14.
Very cool place. Seems to me, that in this neighborhood and this price point, that parking should just be included. And the size of that second bedroom is a bit small for a place of this price. But that is probably just nit-picking.
It is cute.
Looks great, would be high on my list, but in that neighborhood I’d rather just look at SFHs for the money.
Wouldn’t touch it. First one sells and the other right afterwards? What do they know that I don’t? Maybe the place wasn’t constructed well? I don’t know but it raises way too many questions in my opinion.
This is a nice place, but like others have said, West Town is no bucktown/lakeview/lincoln park , and i’d expect a place of this size and build to cost this much in those locations. 700-800k is definitely SFH territory in West Town in my opinion.
I looked at two condos in this building back in 2006 but didn’t buy. They are really beautiful, great finishings. However they are very small, just look at the room sizes. They even feel more cramped than that because of the chopped up layout, this is not an open floor plan.
I still think this neighborhod will contuine to improve. The location is close to downtown, only a $10 cab ride to the loop or 20-25 minutes on CTA. Very close to the action on Division st. without being on top of it. Also Chicago Ave. between Wood and Damen will be picking up with a new bowling alley and Bleeding Heart Bakery and Pizza place.
What’s the square footage like on the unit? Price seems high but it is a gorgeous design.
“What’s the square footage like on the unit?”
Adding up the rooms it is 643… Of course that doesn’t include hallways/bathrooms. No wonder it seems cramped (per Chris) – no room is more than 200 square feet. This building and the one next to it appear to take up 5 lots so the units (4 across) may be a bit wider than 25′ — lengthwise, they look to be set back and have to account for the garage. I don’t think you could get to 2000 square feet on this place, but that’s some guesstimation on my part.
If they are going to renovate the bathrooms at O’Hare’s Terminal 1, they could use these for inspiration. Looking at the aerial image, there appears to only one very small park anywhere near this address. Very dense area from that respect.
“one very small park”
Are you referring to Commercial Park? I don’t think it’s small. You may mean Honore Park which is not really a park to me.
Commercial is not to far and is very active with families from what I’ve seen during nicer weather.
> only a $10 cab ride to the loop or 20-25 minutes on CTA.
I live near this and it’s a 6$ cab ride and about 8 minutes on the train to get into the loop. Great location and that is why it will continue to be a good place to live. New construction continues in this area (right next to my home) and the units sell quickly.
The only people that can’t sell now (here and elsewhere too I bet) are the one’s that are trying to sell for 2006 prices. Glad I am not caught up in that.
Great finishes but an off the beaten path location for some buyers. I generally prefer larger open spaces but those design choices were excellent. How come this realtor always seems to have listings with such modern and high end finishes? Is he connected to the designer world?
I was. It looked small on the satellite shot, and it appears to be the only park in a 1/2 mile radius. The next closest would be Eckhart Park (much bigger on the aerial) and that’s pretty far away.
PS I wonder why Eckhart Park hasn’t gentrified well over the last 10 years. There are still craphacks all along the north and west sides of the park. It’s alot closer in than West Town places out by Damen.
“Are you referring to Commercial Park? I don’t think it’s small. You may mean Honore Park which is not really a park to me.”
A $6 cab ride to the loop, huh?
Do you just get out and start running after you throw your six bucks at the cabbie?
“A $6 cab ride to the loop, huh?
Do you just get out and start running after you throw your six bucks at the cabbie?”
Well, you’re probably getting out on the off ramp, so it would be wise to keep moving.
I can get from the loop to my front door at almost anytime for around 9-11 dollars, including tip, but I live just a bit further than this place.
“I live near this and it’s a 6$ cab ride and about 8 minutes on the train to get into the loop”
Right…8 minutes on the train, AND 15 or so minutes to take the 66 bus to the Chicago blue line stop.
I know people who have sold condos in East Village for only $10k under what they paid in 2006. This area didn’t take too much of a hit since in 2005/06 it was still undervalued compared to Bucktown/Wicker Park.
“I know people who have sold condos in East Village for only $10k under what they paid in 2006.”
Spilled coffee on myself reading this. To say the East Village escaped the bubble because it was up and coming is a tough sell. A review of sales and comps shows otherwise.
It is a fairly good area, but to suggest that the EV lost say less than 5% in the downturn (figuring $300-600K condo with the quoted figure of $10K loss) is silly.
Good luck selling an EV condo in 2011 for 5% less than 2006 purchase price.
I think that this is a overpriced for the #beds and the size. I would also expect to see parking included at this price. The unit that sold earlier in the year was offered with furnishings, and I think that to get $675K price the furnishing would have had to be included.
As far as the comment about getting a SFH for the same money, that is a real stretch. Especially if you are trying to get any where near the level of finishes and style.
We just bought in the area and I am very familiar with any listed SFH’s that have that modern appeal. There is only one home that I know of that is close in price at $749K( http://www.redfin.com/IL/Chicago/1503-W-Ohio-St-60642/home/18953574 ). This was an unfinished foreclosure that was bought and finished by another developer. It sat for several years partially finished and was very moldy by the time it was sold. I would be suspect of what is behind those shiny new walls… Anyway …. My point is that a SFH for similar money is a real stretch.
This one’s in the pricing ballpark. Short lot and the style’s not the same, but…
http://www.redfin.com/IL/Chicago/1858-W-Race-Ave-60622/home/14104106
What’s the ‘catch’ with the race house?
“What’s the ‘catch’ with the race house?”
Race has short lots, like 92′ I think. It doesn’t help that 1856 is on the market as well (for $749), or that 1831 (a 5/4.5) sold a few months ago for $665. That’s my guess.
mhw,
Where did I say that East Village escaped the bubble? My comment was that it didn’t take too much of a hit…..as in compared to S. Loop, River North, and many of the other neighborhoods that have been featured here recently. I have friends that bought a duplex down for $500k in 2006 and sold for $485k and a co-worker of mine sold a 3/2 for $399k that he paid $408,500 for in 2005. These are just two sales in East Village that I know of personally.
Many of the properties featured here are down 25% to 50% from bubble prices. I don’t see that happening in East Village.
“Spilled coffee on myself reading this. To say the East Village escaped the bubble because it was up and coming is a tough sell. A review of sales and comps shows otherwise.”
“Many of the properties featured here are down 25% to 50% from bubble prices. I don’t see that happening in East Village.”
I’m not a realtor, obviously, so maybe Eric or someone else who deals with this neighborhood more can comment. But in my observations- the East Village homeowners are among the most in denial about the price declines in the city.
There are a ton of new construction 3 flat units- all built during the bubble- in the neighborhood. Most of the listings I saw last spring are still for sale and few have had any price reductions. Many are listed, as you say, just slightly under 2005 or 2006 purchase prices. After being on the market 200 to 300 days- it’s just not getting the job done.
Last spring, I was shocked to walk up and down some of the streets and see literally dozens of for sale signs (on all those new construction units.) I found taking pictures to be comical- because one wide shot would get you like 3 or 4 for sale signs (sometimes more.) Right now, I’m noticing that many of these properties are now off the market (waiting again- I presume- for next spring to try again.)
Sabrina,
For the record I don’t own in East Village, but I did look at 10 or so condos there back in 2005. At the time the area was priced well under Bucktown and Wicker Park, because it was still a bit sketchy in my opinion. However, I think developers pretty much picked up all the run down properties and built 3 flats like you mentioned. So the run down stuff is almost all gone and the neighborhood is now much nicer. Plus since then the Dominick’s on Chicago was built and Division started booming. The neighborhood has done a 180 over the last 10 years so I don’t believe the prices have taken a haircut like other areas….yes, prices are down but I don’t see people losing 100k + like many other properties featured here.
Why don’t you feature a property that someone lost 40% to 50% on?
I feel that this unit is way overpriced. Its nice but not for that money. Ranquist is getting amazing premiums on his work.