A Little Piece of Paris Reduces Another $91K: 3314 N. Lake Shore Drive in Lakeview
We last chattered about this 2-bedroom in the 1920 Beaux Art style mid-rise at 3314 N. Lake Shore Drive in Lakeview in January 2011.
See our prior chatter here.
Described in the previous listing as a little piece of Paris, it was listed at $375,000.
It’s almost eerie how accurate some of the comments were in January.
Jfmiii said the unit was at least $100,000 overpriced. Chichow said that some of the furniture should be removed from the listing photos.
Homedelete said it would sell for $200k. Wherein Clio countered with: “hd – you are crazy. You know that it is going to sell for over 300k. Why would you even put something that ridiculous out there?”
10 months later, the new listing pictures show that the kitchen has been painted from red to a neutral tone and the furnishings removed and replaced with virtual staging in the listing photos.
And the price has been reduced $91,000 to $284,000.
If you recall, it has many vintage features including a 37×5 gallery.
The hallways have arches and there are coved ceilings.
The living room has paneling and millwork along with a woodburning fireplace.
The kitchen has white cabinets, stainless steel appliances and granite counter tops.
The listing doesn’t say there are lake views. In the prior chatter some of you thought the unit faced the back of the building.
It does have central air, but no washer/dryer in the unit.
Is this property now priced to sell?
Daniel Otto at Southport Sotheby’s has the listing. See the pictures here. (You can see the “old” listing photos in the January chatter.)
Unit #7C: 2 bedrooms, 2 baths, no square footage listed
- Sold in August 1996 for $158,000
- Sold in December 2001 for $280,000
- Sold in January 2004 for $385,000
- Originally listed in July 2010 for $449,000
- Reduced
- Was listed in January 2011 at $375,000
- Reduced
- Currently listed at $284,000
- Assessments of $1098 a month (includes heat, a/c, cable)
- Taxes of $4313
- Central Air
- No in-unit washer/dryer
- Is parking included? I cannot tell
- Bedroom #1: 18×13
- Bedroom #2: 16×13
- Dining room: 11×8
- Living room: 18×15
- Kitchen: 13×8
Pretty pretty
Much better! The power of staging!
The staging helps a lot. I’d be willing to raise my selling price guess to $230 with a 10% margin of error. It’s too bad this unit has no views and is cavernous. That really hurts the value. Who wants to live on LSD and look at a brick wall? That’s what’s going to make this unit cheap because as we all know, low price can overcome all other defects.
Back in 1996 or 1997, we looked at one of the back units of this building, and though we loved the building and some of the vintage touches in the apartment, the awful views and lack of parking killed it for us. I think the ask then was around $175K. Not sure what makes it worth $100K more today, even if you factor for inflation.
This building, when it was built, was a single unit per floor. It’s a shame it had to be broken up into all these itsy bitsy apartments staring at brick walls. A lot of these rooms would have originally been servants’ rooms when the place was constructed back in 1916.
When a building has a guest suite, how does that work? Do you pay the assoc to use it?
Hey Sabrina, in honor of me getting married this weekend, can you feature a series of SFHs that have good access to the highways and public transportation?
Congrats on getting married! Life as you know it ends this weekend.
“Hey Sabrina, in honor of me getting married this weekend, can you feature a series of SFHs that have good access to the highways and public transportation?”
HD, in honor of the occasion, you should send icarus your best kennedy adjacent listing you’ve been saving for yourself.
Here’s my listing present. Great neighborhood, very good highway and blue line access, neighborhood school might be ok by the time you need one (there were 87! families ahead of skeptic on teh wait list), new kid park and recreation center v close by. Yeah, it could use a little fixing up.
http://www.redfin.com/IL/Chicago/2421-N-Talman-Ave-60647/home/13450802
DZ: YOu can do better than that….
http://www.redfin.com/IL/Chicago/5820-N-Louise-Ave-60646/home/13511326
http://www.redfin.com/IL/Chicago/5948-N-Landers-Ave-60646/home/13513082
This one actually sold!
http://www.redfin.com/IL/Chicago/6305-N-La-Crosse-Ave-60646/home/13513538
But it doesn’t get any better than this…
http://www.redfin.com/IL/Chicago/4108-N-Keeler-Ave-60641/home/13479782
Where would one find a garage space that is not a 2 block walk and what would be the cost?
“DZ: YOu can do better than that….”
I wasn’t trying to maximize highway proximity, I knew you would take care of that. Good to see 4108 keeler again.
Also, Icarus, re your blog, could you: (a) update more frequently, (b) post less (much much less) about your running, (c) post more about wedding and related, and (d) post about the same amount on home repair project but try to take on more interesting ones. And congrats, of course.
“Congrats on getting married! Life as you know it ends this weekend.”
He’s lying to you. Nothing changes when you get married. It’s the first kid that ends life as you know it. Just wait.
Nice place.. I could see this for a retired couple who can pay cash. About $1,500 a month for assessments and taxes isn’t bad
Congratulations and best wishes, Icarus and the future Mrs. Icarus!!!!
“Congrats on getting married! Life as you know it ends this weekend.”
“He’s lying to you. Nothing changes when you get married. It’s the first kid that ends life as you know it. Just wait.”
Absolutely right, Chris M wins.
Believe me, it ends as you know, the marriage bonds are a legally binding contract…but you just don’t know it yet.
The kid is the realization that it’s all changed.
Marriage doesn’t change anything. Unless you’re a playboy.
Kids change things a bit, but even that doesn’t have to be as dramatic as many people portray it.
Thanks all.
DZ, you’re right. I should blog more and the wedding planning is robust material. My running mileage has decreased anyway, I use to average 100 miles a month training for marathons, now I’m lucky to break 40 hence the transition into more DIY projects.
I’m sure both HD and Chris are correct on all counts.
“Congrats on getting married! Life as you know it ends this weekend.”
He’s lying to you. Nothing changes when you get married. It’s the first kid that ends life as you know it. Just wait…”
Icarus – The previous advice was right and they were all good statements but in the end the first kid actually changes life for the better. It just takes some getting used to….I was a first time husband at 40 and first time dad at 42.
I miss sleeping in, quite time alone with the wife, and going to movies on Sunday nights. Those days are over however we still get out frequently. Find a great babysitter and make sure to be really nice to the in-laws before the first kid is born. Especially if they live in Chicago!
Marriage doesn’t change anything. Unless you’re a playboy.
Kids change things a bit, but even that doesn’t have to be as dramatic as many people portray it.
Mostly agree with this. Though I found kids to change a lot. I would appreciate hearing how to make that less dramatic without having a stay at home wife or a ton of superfluous cash to hire full time nannys.
here’s my vote icarus close to highway (view of it!) and the EL (also a view!)
http://www.redfin.com/IL/Chicago/2118-W-Van-Buren-St-60612/home/39820200
HD, ranch houses aren’t my style. I prefer a victorian or a foursquare. I even thought of something like this to be deconverted at some point
http://www.redfin.com/IL/Chicago/5802-W-Grace-St-60634/home/13466195
until I saw the porch
“He’s lying to you. Nothing changes when you get married. It’s the first kid that ends life as you know it. Just wait.”
Could not agree more. As long as you avoid the little monster congratulations are in order otherwise my condolences ; )
CH, if you figure it out please share the trick with me too. We have a nanny (10am-6pm), but I am thinking of getting a second help for early mornings and after 6pm. I think my baby is particularly bad though. My mom and mother in law are astonished on how much energy this baby has and man he likes attention…sigh
“The previous advice was right and they were all good statements but in the end the first kid actually changes life for the better. It just takes some getting used to….I was a first time husband at 40 and first time dad at 42.”
No one said kids made things worse, just v v different.
“I would appreciate hearing how to make that less dramatic without having a stay at home wife or a ton of superfluous cash to hire full time nannys.”
Still a plenty big change with the stay at home wife (especially for the stay at home wife). Maybe combo of stay at home wife and full time nanny(s) would do it.
@Jp3chicago, so I’m 2 years behind you. I wish I could say I have two extra years to mature and grow up but something tells me its more of a trial by fire kinda thing. 🙂
how long until they can become what we use to call Latch Key Kids?
Ha, wait till the second kid comes along!
“if you figure it out please share the trick with me too. We have a nanny (10am-6pm), but I am thinking of getting a second help for early mornings and after 6pm.”
Do you work full time?
when my first kid was a few months old and crying nonstop I suddenly became intensely jealous of NBA players for their road trips.
“Ha, wait till the second kid comes along!”
my experience is that the second kid changes much less. first kid has already carpet bombed your former lifestyle, there is less standing for 2nd to effect.
yes I work full time and a job that is not 9-5 in nature. Basically I am implementing a myopic policy at work of just addressing the most urgent task these days : (
@ CH, tell me about it, now going to work suddenly seems so wonderful…lol
@TS, congrats on the little one. I hope it is not too tough on you guys.
Yes – having kids changes everything. Much more than getting married. It’s like entering a whole new world.
We had our first when I was 28, and now our kids are 11 and 8; so we’re past the sleepless nights/diaper changing part and into the really fun stuff. But it’s still not anything like before kids.
Back in January, when this unit was first on CC, some people commented on the lack of W/D. Has anyone determined if it’s possible to install?
Lack of a W/D wouldn’t be a deal killer for me. We never do laundry – the cleaning lady handles it. If I lived in this place, she’d be the one going up and down to the laundry room. Still, seems a bit low class to have a communal laundry room in in such a nice, vintage place.
The problem with these vintage listings is when owners go all aggro and try to remove everything VINTAGE from it that closes the emotional deal.
You sell a beautiful facade…
A beautiful lobby (that woodwork!)…
And then…
…
“Hello. Here is your white Living Room. It is white. The window trim is white. The walls are white. The wood has been painted white. The fireplace is white. But there is a fantastic relief on the ceiling — also white.”
Blahhhhhh.
That’s your problem. Every suburbanite with Cable watches some HDTV and goes “Oh! White! Mod! Clean! Lines!” Beautiful trim and detail is just whitewashed — literally — trying so hard to make interesting, historic spaces into the next McCrapbox (BUT THERE’S GRANITE! AND STAINLESS!) and relying on the damn facade to keep up the mystique.
There’s something to be said about renos in vintage kitchens and baths.
You want to paint everything white? You want to remove all of the visually arresting elements to your vintage place?
Then go ahead. And watch the price fall, since you can’t hide the assessments on the rest of the building maintenance. But painting that mantle and trim sure did work for ya, huh?
Ugh.
Boiztown – amen.
Interesting how CC’s tend to talk more about “nannies” than “day care” when it comes to non-parental kid-tenders.
Is this some sort of “class” issue?
PS – Best wishes to Mr. + Ms. I.
I dont think so, everybody already knew miumiu was classy.
http://www.redfin.com/IL/Chicago/3314-N-Lake-Shore-Dr-60657/home/13375178
12/16/2011 sold for $255,000 – regardless of UIC prognostication
UIClio never gets a thing right.