Attention Cubs Fans: You Now Have To Pay $26K More To Live Near Wrigley Versus Last Summer: 3531 N. Sheffield
We last chattered about this 2-bedroom duplex down at 3531 N. Sheffield in Lakeview in August 2012.
See our prior chatter here.
If you recall, it is just a half a block away from Wrigley Field and both last summer and now this spring it is being marketed to Cubs fans.
Last summer, most of you cited being this close to Wrigley as actually a negative and also pointed out the El tracks that run right behind the building as a second negative.
The unit didn’t sell and was withdrawn from the market in December.
If you recall, it has 12 foot ceilings.
One bedroom is on the main floor and the second bedroom is on the lower level.
There is also a family room on the lower level.
The kitchen has white cabinets and stainless steel appliances.
It has the features that buyers look for including a washer/dryer in the unit and central air.
It also has a unique feature of 3 car tandem outdoor parking spots which is still an extra $20,000.
It didn’t sell last year when it was listed at $309,000 plus $20,000 for the parking.
It has come back on the market for $26,000 MORE.
Is the market hot enough that this unit will get the higher price?
Mckinze Casey at Jameson Sotheby’s now has the listing. See the pictures here.
Unit #1S: 2 bedrooms, 2.5 baths, duplex down, no square footage listed
- Sold in July 1996 for $209,500
- Sold in May 2000 for $300,000
- Sold in February 2001 for $312,000
- Sold in April 2006 for $388,000
- Originally listed in May 2011 for $355,000
- Reduced
- Was listed in August 2012 at $309,000 (plus 3-car tandem parking for $20,000)
- Withdrawn in December 2012
- Re-listed for $335,000 (plus $20,000 for 3-car tandem parking)
- Assessments of $271 a month (includes cable)
- Taxes of $6870
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 14×11 (main floor)
- Bedroom #2: 16×10 (lower level)
- Family room: 15×14 (lower level)
If the condo rules allow it, you might be able to stick a third bedroom in that “living room” on the bottom floor, call it a 3-bed/2-bath, and rent it out for $2700/month to three roommates who want to live in Wrigleyville. At 4% and 20% down, you’d clear your monthly nut by $500. That’s what, an 8.5% return plus appreciation? Makes me think that the association must not allow renters, otherwise this would have been converted.
With the new agreement with the Ricketts family, all the additional night games will further devalue the neighborhood. This should be listed at $26,000 LESS, not more.
Cubs suck and so does this duplex down
The new price seems delusional. Maybe the seller is a narcissist. Why anyone would want to live in this location (except maybe some frat guy roomates who recently graduated), is beyond me.
What’s with the weird alcove for the toilet? How are you supposed to fix it if something goes wrong in the tank?
I wonder how much the owner could make renting out the spots on game days or even to just a season ticket holder.
I love this price! Makes me think we can get more than I initially thought for ours! Hahaha, I love delusional sellers!
Those taxes seem a bit high (no I do not want to get into yet another taxes-seem-high discussion, just sayin).
Maybe the taxes include the parking spot tax, sine they assume you’ll buy it too….
Could not get the link but check out 3462 Sheffield 1n. Sold with parking for $335k in 2012. Think it was 3 bed with 2 baths and had two spots out back tandem style. Lived in this building years and years ago when it was a rental. Our unit was a large duplex down. it was fun! I recall being across from the el and a constant parade of drunks from El jardin puking on the sidewalk.