A 5-Bedroom East Lakeview Penthouse with a 700 Sq Ft Terrace: 506 W. Oakdale
This 5-bedroom penthouse at 506 W. Oakdale in East Lakeview came on the market in August 2020.
There’s no date on when this building was built (1880s?).
It has 4 units and garage parking and was converted to condos in 2003.
This penthouse unit is on the market for the first time since it’s original sale in 2003.
It’s a duplex up with 2718 square feet.
It has hardwood floors throughout, 14 foot ceilings on the main floor, crown molding and 2 fireplaces, including one in the primary bedroom.
4 bedrooms are on the main level with the 5th on the second floor.
The primary suite has a hallway of closets and an en suite bathroom with a double vanity, tub and separate shower.
The kitchen has modern cabinets, “new” stainless steel appliances and what looks like stone counter tops.
There’s also a small balcony off the kitchen.
There are skylights.
The second floor has a family room and the fifth bedroom along with a built-in wet bar.
The unit has a 700 square foot private rooftop terrace with an enclosed sunroom.
This penthouse has the features that buyers look for including central air, washer/dryer in the unit and it has one covered garage parking space which is EV equipped.
Originally listed in August 2020 at $1.25 million, it has been reduced to $924,000.
The property sold in 2003 for $762,000.
Is this a rare chance to get 5-bedrooms for under $1 million in this neighborhood?
Chloe Reynolds at @Properties has the listing. See the pictures and floor plan here.
Unit #4: 5 bedrooms, 3.5 baths, 2718 square feet, duplex up, penthouse
- Sold in August 2003 at $762,000
- Originally listed at $1.25 million
- Reduced several times
- Currently listed at $924,000
- Assessments of $374 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $13,834
- Central Air
- Washer/dryer in the unit
- 1 car garage parking included
- 2 fireplaces
- Bedroom #1: 11×17 (main floor)
- Bedroom #2: 10×11 (main floor)
- Bedroom #3: 10×13 (main floor)
- Bedroom #4: 10×11 (main floor)
- Bedroom #5: 10×13 (second floor)
- Living room: 23×11 (main floor)
- Dining room: 10×9 (main floor)
- Kitchen: 12×14 (main floor)
- Family room: 21×12 (main floor)
- Den: 21×12 (second floor)
- Laundry room: 7×4 (main floor)
- Enclosed porch: 23×11 (second floor)
- Terrace: 21×20 (second floor)
Should have spent >$100k upgrading the place vs cutting the price
Rubbermaid wire closet organizers in a $1MM place?
Realator is really earning their money
The surveillance camera in one of the offices is interesting/scary/confusing. Like the place, layout seems decent and space seems plentiful. Seems like its priced high however, but nice nonetheless.
Beautiful building, and unit has potential. But, not sure if it’s the pictures—the kitchen & baths look they were done on the cheap w/ someone who didn’t think things thru.
The big issue for someone looking for a space for a family will be 2 1/2 flights of stairs to get just to the main level (and add extra for the high ceilings on floors 1 & 2 of the building).
“The surveillance camera in one of the offices is interesting/scary/confusing.”
there’s also a camera in the corner of one of the bedrooms. Maybe they were once kids rooms?
And can we stop describing a top floor condo of small multi-unit a penthouse? If I am buying a penthouse, I want a full service, amenity rich building with a door person, private elevator access and at least 10 floors.
Beautiful building, but asking price is too high.
I don’t know why, but the cover on the deck makes me irrationally angry.
“the cover on the deck makes me irrationally angry”
That it exists, or the materials/design?
“That it exists, or the materials/design?”
To quote Grandpa Simpson, “A little from column A, a little from column B…”
Bones are decent. Finishes outdated. Is there any other city in the country that does this friggin diagonal wood flooring? Where in the world did this come from?
Oh, I was gonna add that the flimsy Home-Depot staircase and banister isn’t helping. Might consider closing that stairwell off to one side and/or giving it a more substantial and period appropriate newel post/handrail.
“staircase and banister isn’t helping”
Stairs are whatever and could be fixed with a carpet runner, but the banister does stick out, badly.
The problem with any three-flat is being on the board with the two other owners, who may or may not be SOBs. Hopefully they’re friendly and easy to work with, but you never know. Because an old building like this needs lots of maintenance. It can be like a part-time job.
Beautiful exterior, but I’d think twice before dropping so much $. I’d want to know a lot more about the bones of this place.
Though I do have my reservations about three-flat life, this is an interesting space and I love the outdoor aspects. Rooms are all small, unfortunately. Not a lot of vintage charm inside, though the exterior has a lot.
Might be close to the final selling price, but they’ll need to find the right person. Someone who wants vintage and needs lots of small rooms.
Agree with the other comments that a lot of this needs work. Kitchen looks old, and that cover over the back deck needs to go.
Unless this is staged, the camera in what is clearly no longer a child’s bedroom, is super creepy….also kinda creepy even if it is a child’s bedroom because it is so much more permanent than a nanny-cam. Maybe this person is afraid the maid is going to steal trade secrets? Anyone want to bet if a permit was pulled for the addition on the roof? I too am offended by it. OK for a lake cottage but not your city home. On balance however this looks nice enough and the current owners have put some money into it over the years (all debates on if they would be Chatterati choices aside). Less than 1.1% annual price appreciation….me thinks they overpaid for the location in 2003 but not sure because this is a really nice location.
Curb appeal is a 10/10. Stunning building. Can’t say the same about the interior or the deck but its not that bad. It will sell soon.
With 700 outdoor feet to work with, I can appreciate the desire to shelter part of it to make it usable during all of the crummy Chicago weather. A solarium like in this place would be amazing:
https://www.redfin.com/IL/Chicago/1454-N-Wieland-St-60610/home/14115978
Thanks for the link to the Wieland property KK.
I’ve always wondered how hot a solarium like that gets though. It doesn’t appear to have any curtains or shades at all. There is a heater (cooling?) seen in the picture.
Does the sun just beat down on you all day during the summer in there?
And what about when it’s zero degrees in the winter?
Anyone have any experience with a solarium like this? I like them, in theory, but in practice, I’ve wondered just how useful they really are.
Sabrina – this solarium has at least two operable window sliders. Look close as you can see the hardware and tracks. So that helps on the really hot days. As for how they work a relative had a really expensive version put on the back of their lake Geneva stately mansion. It was very pleasant most days.
They had double insulated up resistant glass panels, ceiling fans, and some interior shades. But those shades were only installed on one section. The shades were used more for glare then temp control. Think they used the space year round. Often to read the paper in the AM and at sunset for drinks. Mid day might have been a bit tough on a hot day in August.
I count 5 different camera’s?
“I’ve always wondered how hot a solarium like that gets though. It doesn’t appear to have any curtains or shades at all. There is a heater (cooling?) seen in the picture.”
Like a room with a lot of windows, it is definitely more difficult to moderate the temperature and not worth trying to do so in the extreme hot or cold. But it gives you that access to sunshine and outdoor feel without exposure to the elements and is great during the spring and fall and on rainy days. Usable during the winter if you sit close to a space heater.
Because of the difficulty to moderate the temperature, I probably wouldn’t turn a solarium into a permanent home office like the Wieland residents appear to have. Though they also appear to be multimillionaires and perhaps don’t care about high utility bills.
“they also appear to be multimillionaires”
Appears it is a parent who is a multi-millionaire.
“they also appear to be multimillionaires”
“Appears it is a parent who is a multi-millionaire.”
In that case, they probably don’t understand the hard work that went into building that fortune and definitely don’t mind high utility bills.
Regardless of who has money and one’s ability to understand where it came from or how it was earned…
…I need to know why are there so many security cameras all over this place?
“…I need to know why are there so many security cameras all over this place?”
Doesn’t speak well to the skill/influence of the agent. Could have at least removed them when photos were taken.
For the unit KK posted: You have to wonder what circumstance would prompt someone to buy and sell within a year…the transaction costs are nuts. I also wonder about that listing…why post two of essentially the same exterior shot – – one with a floor mat hanging over the rail and one without? Also that solarium couldn’t possibly be fuglier. reminds me of the 1980s.
“Also that solarium couldn’t possibly be fuglier. reminds me of the 1980s.”
To each their own I guess. I’d love to bathe in the sunshine all winter long.
I assume others consider it a selling point too, since it is prominently placed as the second picture in the listing.
I would consider a solarium a huge selling point. My plants would love it. You really would need it closed off from the rest of the house for climate control and it needs electric shades.
What’s the cost to build a solarium? A youtube channel I watch spent $20K to repair her much smaller “conservatory” in Oak Park.
re Solariums, this place that sold at the beginning of the year has one – https://www.redfin.com/IL/Chicago/1301-W-Wellington-Ave-60657/home/13365471
In early March of last year (like a week before lockdown), the previous owner was looking for a zoning change and was going to remove it, said it was only usable for a week or so a year. It was freezing in the winter, boiling in the summer.
That request was passed by the neighbors, but not sure if the alderman said no or if it got stalled by the pandemic or what, but by August, it was listed for sale.
“a zoning change and was going to remove it”
?? Why?
Was the plan to convert it to actual indoor space?