“A Great Investment Opportunity” in a 3-Bedroom East Lakeview Townhouse: 2914 N. Sheridan
This 3-bedroom mid-century modern townhouse at 2914 N. Sheridan Road in East Lakeview just came on the market.
Built in 1951, this complex has an underground garage.
The listing says there is radiant heated flooring.
It has a 1/2 bath on the main floor and 2 wood burning fireplaces along with a finished lower level with a den.
All three bedrooms are on the second floor.
The kitchen has mostly stainless steel appliances.
The townhouse has north and south exposures along with a large private patio.
The listing says it’s a “Great floor plan-just make easy aesthetic changes” and that it’s a “great investment opportunity.”
With a new luxury apartment high rise being built only a block away, does it make sense to buy this as a rental?
Harry Maisel at @Properties has the listing. See the pictures here.
Or see it at the Open House on Sunday, Oct 11 from 12:00- 2:00 pm
2914 N. Sheridan: 3 bedrooms, 1.5 baths, no square footage listed
- Sold in July 1995 for $175,000
- Currently listed for $469,900
- Assessments of $375 a month (includes water, parking, exterior maintenance, scavenger and snow removal)
- Taxes of $5593
- Central Air
- Bedroom #1: 12×20 (second floor)
- Bedroom #2: 12×12 (second floor)
- Bedroom #3: 9×10 (second floor)
I’ve looked at some of the neighboring units. The arrangement of the units creates a strange “fishbowl” feel where everyone in the complex is looking right into your windows.
It’s a pretty nice area to live in though, and the units are pretty big and all (most?) have outdoor space.
It’s not for me, but I can see someone else wanting to buy this and live there.
What a mish mash of different flooring types. If upgraded, this place could be really nice though.
Made me think of this place, a block north:
http://cribchatter.com/?p=18039
which finally sold for $715k.
Appears that Gary wrote a post about it, too.
Cool place but choppy and the 1 full bath for 3 bedrooms is a real drawback. It’s difficult to command in the upper price ranges (i.e. $400,000+) with only one full bath. It doesn’t help that the sole full bath is small, dated and cheapo looking. It has be a pretty spectacular unit for me to even consider a 3 bed with only one full bath and I imagine a lot of people think the same way.
Needs a minimalist renovation – has a lot of potential. I see a few warning signs though, which I’ve noticed from the outside and in the virtual tour: 1. There appears to be a sag in the floor apparent from the outside, could lead to problems (i.e. leaking radiant heat, etc). 2. Old vines on the stonework – could mean damaged stone cladding (never let vines like ivy grow on brick, more problems than it’s worth). 3. No standards for window replacement – makes this minimalist complex look like a hodgepodge. Since they are assessments, does the association regulate renting to any degree?
What a mishmash of inappropriate or outdated “upgrades” and “improvements”. The Georgian staircase is all wrong for a MCM house, and there are too many types of flooring, mostly outdated and ugly. It would also help if all the units in the complex had matching windows.
Only 1 full bath is a deal killer for most townhouse buyers, unless another can easily be added, or the half-bath expanded.
The price is not bad for a townhouse in this neighborhood, and the taxes are reasonable (though they may not remain so).
The kitchen window of a one bed I rented in a 3-flat is visible in the background of the pic for this thread. Great location, though I’m still hearing in my sleep, almost 10 years later, “Route 151…”
I really like the mcm look but nothing about this place says buy me. Bad layout and that mix match of Windows makes me think this is overpriced. With 150k of updates it would never be worth $640k