A 4-Bedroom Vintage Home in the Sky: 442 W. Wellington in Lakeview
This 4-bedroom at 442 W. Wellington in East Lakeview just came on the market.
This building was constructed in 1920 and is a co-op. It has 23 units, with only 2 units per floor, a playground and parking. It’s also a full service building with 24-hour door staff and an exercise room.
The listing says this unit has had a “full renovation” by Sasha Adler of the Nate Berkus Team.
It has some of its vintage features, however, including crown molding, 10 foot ceilings and a wood burning fireplace.
There’s a new chef’s kitchen with prep island, butler’s pantry and eat-in area. It has white and black cabinets, stainless steel appliances and marble counter tops along with marble floor tiles.
It has four large bedrooms, as is common in many vintage apartments from the pre-war era, as they were mostly built for well-off tenants.
It also has a master bedroom suite with a walk-in closet and bathroom.
The unit has the features buyers look for including space pak cooling, washer/dryer in the unit, 2 parking spaces and 2 storage spaces.
The listing says dogs are welcome. The outdoor area also includes a grilling area and a full-size basketball area along with a children’s playground.
This is a co-op so the HOAs including taxes.
With 3,600 square feet, is this a good single family home alternative?
Beth Wexner at @Properties has the listing. See the pictures here.
Unit #5E: 4 bedrooms, 3.5 baths, 3600 square feet
- Sold in February 2014 for $475,000
- Originally listed in May 2018 for $1.05 million
- Was pending in December 2018 at $899,000
- Re-listed in January 2019 for $849,000
- Assessments of $2955 a month (includes heat, gas, parking, doorman, cable, Internet, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes = a co-op. It should be included in the assessments.
- Central air- space pak cooling
- Washer/dryer in the unit
- 2 car parking
- 2 storage spaces
- Wood burning fireplace
- Bedroom #1: 23×23
- Bedroom #2: 18×14
- Bedroom #3: 18×14
- Bedroom #4: 18×12
- Dining room: 20×14
- Living room: 25×18
I’ve spent lots of time in apartments here, and they are expansive, elegant and beautiful. The question is, are there enough incredibly wealthy people out there now who want to buy a vintage condo (rather than something shiny and new), in this neighborhood (rather than Gold Coast or downtown), and are willing to pay this much in assessments (they’re high even if they do include the tax).
I might consider it if I had the money and if the building had a decent view (I want to see the lake for that much cash), but I wonder how many others out there are willing.
I’ll add that this is a low floor and on the wrong side of the building. Better to face west – much more light.
If I were in the market for something like this and willing to pay high monthly fees for the neighborhood, I’d rather go with this one (which has amazing lake views):
https://www.zillow.com/homes/for_sale/condo,townhouse_type/2090788278_zpid/2-_beds/400000-_price/1586-_mp/41.947242,-87.635611,41.939917,-87.651061_rect/15_zm/
I believe the listing broke out taxes separately. My read is that the assessment is $2905/month PLUS $10,069 in annual taxes. That puts the monthly payment a little shy of $4,000 before mortgage, etc. This is a beautiful apartment, but that’s a lot to pay for outdoor parking. Also, this area is so congested. I have seen other units languish on the market in this building. My sense is that is is very difficult to sell given the high assessments, outdoor parking, location, lack of views and the fact that it’s a Co-Op.
In response to Dan#2: I have been in both of these apartments. There is absolutely no comparison. The view from 3400 IS great, but the windows are old and you can hear all of the noise on LSD. The apartment is vacant and has been on the market forever and is not at all updated. It has the odor of an old apartment that has not been maintained.
The apartment at 442 has no view, but everything in it is NEW with the exceptions of the features listed that were preserved. The decor might be your taste, but it was done with great materials.
Just my pet peeve here, but with a kitchen that large, why is there only a single oven? Couldn’t you put the microwave in the island and had a double Wolf oven? Seems like a big miss in a kitchen that big and extravagant.
“but with a kitchen that large, why is there only a single oven? ”
looks to be a 48″ range. probably has 2 ovens side by side.
I’ve switched us back to the old blog template, for now, while I try and figure out what is going on with the new format. At least we know this one works.
Let me know if you continue to see people’s e-mails in the comment form! Yikes.
By the way, the Sun-Times has an interesting editorial on the Chicago pension issue.
It’s $42 billion. That’s $35,000 per household. The next mayor WILL face this. Who has some ideas about what they would do?
From the Sun Times:
“Our own view, though — safely expressed from the sidelines — is that Chicago’s financial crisis is so severe that another property tax hike is almost inevitable in the next few years. And an expansion of the sales tax is likely, too. All the other solutions are only partial, or unworkable, or could make matters worse.
We generally favor, for example, the legalization and taxation of marijuana, as does every mayoral candidate we asked, except John Kozlar. But nobody can say how quickly a pot tax will come become a reality, or how much money it will really generate, or what percentage of the cut will go to the city rather than the state.”
https://chicago.suntimes.com/?post_type=cst_article&p=1619185&utm_campaign=ChicagoSunTimes&utm_content=1547255846&utm_medium=social&utm_source=twitter
The entire state of California (5x the population of the entire state of Illinois) only generated like half a billion from taxing marijuana
That isn’t going to fix any of the state or city’s issues, at all, the casino? Yeah a drop in the bucket as well, even though its construction will be full of graft and pork for cronies, and probably would be completed sometime before 2030
“Let me know if you continue to see people’s e-mails in the comment form! Yikes.”
Yes, I just saw someone’s name (Melanie?) and email already populated in the “Leave a Reply” area.
Glad you switched it back. I like being able to rate comments and wasn’t able to with the format you had.
” California (5x the population of the entire state of Illinois)”
A little more than 3x. Might be 5x by 2030, tho.
I can see Dan #2’s e-mail address…
gotta get this fixed
I just got someone else’s email for the first time. Getting worse, not better.
“Getting worse”
Define worse. Why am I not seeing the bug (or feature)?
Gone now, for me at least (and apparently DZ).
Thanks, Annie, for the observations of 3400 vs. 442.
I’m very surprised. Wasn’t 3400 put under a major renovation just a decade ago? I thought it was considered a top luxury building. The prices would have you believe that.
When were you in the 3400 unit?
“I can see Dan #2’s e-mail address…”
If you are STILL seeing it, it’s not the theme. It has to be wordpress itself. But I’m in the most up to date version of that. It may have something to do with them re-writing the entire way it works, I don’t know. But I don’t know what that would have to do with the comments feature.
I’ll disable the subscription feature again- as that’s the only thing that I’ve changed other than the theme.