After Pending For 6 Months, This 2-Bedroom is Back on the Market: 3535 N. Reta in Lakeview
We last chattered about this 2-bedroom at 3535 N. Reta in Lakeview in October 2010.
See our prior chatter here.
At that time, the price had been aggressively dropped on the unit and it was listed for $65,100 under the 2006 purchase price.
It then went under contract that November, but 6 months later it fell out of contract and now has come back on the market at the same asking price as October.
If you remember, the unit has upgraded finishes you may not find in a typical north side 2 bedroom unit including crown molding, a tray ceiling, and solid core doors.
The kitchen also doesn’t have just any stainless steel appliances, it has upgraded appliances including Subzero and Bosch plus a wine fridge.
The unit also has natural stone baths with a steam shower.
It has in-unit washer/dryer, central air and parking.
Will this unit be able to command a $400,000 price point in this market?
Matt Garrison at Coldwell Banker still has the listing. See more pictures and a floorplan here.
Unit #2: 2 bedrooms, 2 baths, 1 car parking, no square footage listed
- Sold in May 2006 for $480,000
- Originally listed in January 2010 for $475,000
- Reduced
- Was listed in June 2010 for $439,900 (parking included)
- Reduced
- Was listed in August 2010 for $429,900 (parking included)
- Reduced
- Was listed in October 2010 for $414,900 (parking included)
- Under contract in November 2010
- Fell out of contract in May 2011
- Re-listed for $414,900 (parking included)
- Assessments of $150 a month
- Taxes of $6757
- Central Air
- Washer/Dryer in the unit
- 2 plasma tvs included
- Bedroom #1: 17×12
- Bedroom #2: 12×12
Fail. 400K can purchase many a 3/2 on the north side. A buyer would really have to love the unit to pay that premium.
No comment as to the place itself, but I am feeling some appliance envy.
there are only so many 2 beds with this kind of quality and size. some buyers would rather have incredible finishes than an extra 10′ x 10′ bedroom.
this will still sell right around $395k.
I feel like the floorplan makes the second bedroom quite unusable, at least on a regular basis.
It will sell, probably in the high 300s. 2/2’s in the low 400s/high 300s are selling pretty quickly in LV, SoPo and LP. I don’t understand why you wouldn’t just save a bit more and get a 3 bed, have something you can grow into. But these are probably the same like minded buyers who would have bought at the height of the market had they lived in the city or had the means.
“It will sell, probably in the high 300s. 2/2’s in the low 400s/high 300s are selling pretty quickly in LV, SoPo and LP.”
$300 is the new $400.
For 3000 block of N Sheffield, $225 is the new $400.
Jen,
I agree with you, that second bedroom looks best suited for temporary use.
A Pig is a Pig
The unit has upgraded finishes you may not find in a typical north side 2 bedroom unit.
I agree Jen and Semaj. I consider second/third bedrooms with french doors to not be bedrooms but dens. No one is regularly going to sleep in these rooms, especially ones with french glass doors off of living rooms.
I’m all for limiting the definition of bedroom to a room with a door that you cannot see through in addition to the need for a closet and window and walls.
As a matter of principle I am with you guys Ben, Jen, and Semej, but cannot the french door be altered to accommodate privacy.
I think I am starting a real estate Blog devoted EXCLUSIVELY
to making fun of these monstrosities and the idiots who buy them.
$300’s and up for 2/2’s that are: large and/or unique and/or well located
$200’s for 2/2’s that are: cookie cutter and/or not as well located and/or average sized
$100’s and below for 2/2’s that are: conversions and/or small and/or not well located and/or a commodity.
Mix and match your attributes and you’ll generally end up in a range between $200 and $300 for 2/2s in the GZ. That’s where prices are headed and will stay.
“#River North Lurker on May 18th, 2011 at 2:20 pm
“It will sell, probably in the high 300s. 2/2’s in the low 400s/high 300s are selling pretty quickly in LV, SoPo and LP.”
$300 is the new $400.
For 3000 block of N Sheffield, $225 is the new $400.”
“but cannot the french door be altered to accommodate privacy.”
Yes, of course, but check out the floorplan. This place is laid out like a 1 br + office/guest room. The hall bath is adjacent to the master. It’s awkward for anything other than a couple, imo.
And, while I get the reason(s) for the 2 *interior* stairs, I think it sux. Makes it even harder to configure a good flowing apartment on a standard lot.
James, you need to take your meds. You are hating on too many things too strongly. Sonies has a point, it must be full moon or something.
I have a special place in my heart for these new construction red brick things, ask anyone
Sonies is the master of spreading harmony here on CC
“art on May 18th, 2011 at 1:53 pm
this will still sell right around $395k.”
More like $345k.
This works for a single or childless couple, but not anyone wanting a family. That seems a bit of a contradiction given the Wrigleyville location. 1br+office/den is a good call, and it should be priced accordingly. Overpriced by 15%.
This should be considered a 1 bedroom plus den. They’re not going to get the return on all those upgrades, given the location, the restricted floor plan, ect.
It’ll be really interesting to see what this finally sells for, but we may have to wait another year to find out, with the way they’re pricing it…
A lot of people seem to have some seriously unrealistic expectations of what you get in the city in terms of space these days. How big do you think a 2 bedroom is supposed to be? The second bedroom in this place is pretty typical of most condos – relatively small. Unless you are going to drop a ton of money for one of the uber lux buildings with 2000 sqft 2/2’s you are going to have small 2nd bedrooms.
I think this place isn’t selling because the outdoor space is right off the master and has no common hallway to the deck. People hate having guest go through their MB to get to the deck. No one wants to lug a plate of ribs through a bedroom to get to the grill.
“How big do you think a 2 bedroom is supposed to be?”
My complaint isn’t the size of the BR, it’s the location of the BR and the 2d bath, the french doors, the dumbbell shape of the place overall *and* that outdoor space issue.
This is a pretty typical 2/2 floor plan in new construction. They don’t vary much at all. Front of the unit is the living area with combo dining room and open kitchen. Hallway runs straight back with 2nd bedroom off to side. Master bedroom in back. This building looks a little more narrow than some buildings so they don’t have a way to get access to the deck without going through the master.
You can fix the french doors. The second bath is a little odd since it is further down the hall. Typically they are directly across the hall, but the building doesn’t seem wide enough to pull that off..
“You can fix the french doors. The second bath is a little odd since it is further down the hall. Typically they are directly across the hall, but the building doesn’t seem wide enough to pull that off..”
Biggest problem is that stupid second stairwell to provide the second access point to the stupid roof deck (which also avoids stairs to teh real decks). Takes up the logical space of the 2d bath, which could allow the MBR to be reconfigured for that deck access hallway.
anon (tfo) that would be the best layout for sure. The french doors are fixable, but if I’m paying $400k for a 2/2, I don’t want to fix french doors! Also, I hate that the refrigerator is basically in the hallway. The more I look at this floorplan, the less I like it. Two steps up to the master bedroom? I thought the plus of a condo was no stairs once you were home. I guess two isn’t that bad, but I’d rather have none. Then you can drink more. 😉
“Fail. 400K can purchase many a 3/2 on the north side. A buyer would really have to love the unit to pay that premium.”
I’m working with a buyer right now that has a contact for a 3/2 half duplex condo with 2 parking spaces in Lakeview. The negotiated net price is $400k, so I would agree with this statement.
If I was building a 3-flat why wouldn’t I want the ‘built-in same construction balcony’in the front as well, as you see on so many condos of this nature. It’s nice having outdoor space off your bedroom, but it can’t be the ONLY outdoor space. Bad idea. Something tells me you can find a place like this, but with the balcony in the front, similar finishes for high 300’s in Lakeview.
In general, I prefer the split floor plan for the 2Brs and many of the newer high rises have that floor plan and the balcony tends to be in front of the living room.
The French doors aren’t so much the problem, it’s the general location of it, along with the 2nd bath which is practically in the master suite. I’ve lived with a child in enough 2 bed places to know this wouldn’t work. I think the 1 bed plus den was the best call. I can’t tell you how many 3 bed places I’ve seen where the 3rd bed was really an office or den, it gets annoying.
“I can’t tell you how many 3 bed places I’ve seen where the 3rd bed was really an office or den, it gets annoying.”
Exactly my thought! It was hard to find a true 3 bedroom, and when we did, we bought it. Sadly enough though, several people in our building have turned the front bedroom into a den by adding french doors to the room opening to the living room. I can’t help but think they’ve hurt their resale. The way we’ve left it, we use it as a den, but if we sell, a buyer can use it however they want. Other units can never truly use that bedroom as one again without deconverting at added cost.