A 2-Bedroom Penthouse Duplex in a Former Church: 3252 N. Kenmore in Lakeview
This 2-bedroom penthouse duplex at 3252 N. Kenmore in Lakeview just came on the market.
This is a former church which was converted into condos in 1993. It has 14 units and attached heated garage parking.
It doesn’t appear that many of the “church” features were maintained in the conversion.
This unit is a corner with two walls of windows and skylights.
It has a private deck off the dining room that can fit a table and chairs as well as a grill.
The kitchen has white cabinets, quartz counter tops, stainless steel appliances, a breakfast bar that seats 4 and a wine fridge.
There’s a gas fireplace in the living room and 14 foot ceilings with wood beams.
There’s a half bath on the main floor.
The 2 bedrooms and den on are on the lower level along with the two full baths.
The master suite has a 8×10 walk-in-closet along with a en suite bath with a spa-like stand-up shower.
The listing says the office/den can be enclosed for a third bedroom.
It has the features buyers look for including central air, washer/dryer in the unit and attached heated garage parking.
It’s just a few blocks to the Belmont El stop and is surrounded by shops and restaurants of Lakeview.
The listing says its in the Nettlehorst school district.
At 1809 square feet, is this a good townhouse or single family home alternative?
Kathryn Schrage at Redfin has the listing. See the pictures and floor plan here.
Unit #302: 2 bedrooms, 2.5 baths, duplex, penthouse, 1809 square feet
- Sold in June 1994 for $239,000
- Sold in December 1996 for $304,500
- Sold in April 2013 for $495,000
- Sold in April 2015 for $585,000
- Currently listed at $630,000 (includes garage parking)
- Assessments of $407 a month (includes exterior maintenance, lawn care, scavenger and snow removal)
- Taxes of $9718
- Central Air
- Washer/dryer in the unit
- Gas fireplace
- Bedroom #1: 13×18 (lower level)
- Bedroom #2: 12×13 (lower level)
- Office: 12×10 (lower level)
- Living room: 18×19 (main level)
- Dining room: 11×17 (main level)
- Kitchen: 18×19 (main level)
- Walk-in-closet: 8×10 (lower level)
Fireplace is laughably bad
Home office is nice sized, tho would prefer it not attached to the BR
The 1900sf seems like a reach
“The 1900sf seems like a reach”
1809. Which actually looks pretty accurate, BUT 100% includes the balcony.
This place is nice, seems spacious, and I’m a sucker for a duplex up. However, if you’re buying in a converted church, aren’t you looking for some unique, churchy character?
$630K seems like a lot for a 2-bed in this area (although here’s a 2bd/2ba contingent with a $739K list a couple blocks away: https://www.redfin.com/IL/Chicago/3227-N-Racine-Ave-60657/unit-3/home/170055524)
“The listing says the office/den can be enclosed for a third bedroom.”
It wouldn’t be a true 3rd bedroom as would still have to walk through it to access the Master.
But as a 2/2, I am a big fan. The finishes are very nice, and love that the office area is nicely separated from the main living space.
also, the monthly PITA+ins cost for this isn’t so bad, with 20% down, but what low rates have done to inflate prices is kookoo.
at 630k, with 20% dp, and 3% mortgage ~$3500/month per redfin
to match that monthly with a 7.5% mortgage (assuming taxes stayed the same)–$390k.
I’d feel a helluva lot better buying this with ~$75k down than ~$125k.
anon(tfo): it’s pretty obvious that the gain in home prices over the last 20 years has been the result of the Federal Reserve’s policies and the low mortgage rates.
I guess the question to ask is, what happens when it goes the other way? I know that it could be years before that happens, but they can only go so low. And moving forward, they’re not going to be that much of a stimulus to home price increases. We will need an actual increase in salaries/income.
“But as a 2/2, I am a big fan. The finishes are very nice, and love that the office area is nicely separated from the main living space.”
With everyone working from home, this seems to be a great layout. Being on another floor away from the main living space is ideal. So someone can be watching tv or whatnot and you can still be on conference calls.
“what happens when it goes the other way?”
If it is not accompanied with inflation/growth in wages, total flipping economic disaster.
This is the natural outcome of howmuchamonth. Non-income producing assets aren’t “worth” how much one can afford to pay per month to finance them.
also:
Jun-94 price + CPI = $414, 5/1 ARM rate = 7.451
Dec-96 + CPI = $492, 5/1 ARM rate = 7.138
So, at comparable rates, and in large part bc of property taxes, this place would be worth less than 94 or 96 on a howmuchamonth basis, even tho it has been decently updated since then.
The outside is a horror show but the inside actually kind of works. Lots of light and decent outdoor space. It does need a lot of updating, but plenty to work with.
Price seems about right for what you get.
Assessment seems pretty low, which could be a warning signal.
Contingent after 5 days on the market.
“Contingent after 5 days on the market.”
Thanks for the update Madeline.
It’s a hot market in the old hot neighborhoods: Bucktown, Wicker Park, West Town, Southport.
Inventory remains really limited, especially at certain price points. Mortgage rates are still at record lows and plenty of people kept their jobs and still want to buy.
Sold for $625K