“Brand New” 4-Bedroom in Mid-Century Lakeview High Rise: 3180 N. Lake Shore Drive
This 4-bedroom in 3180 N. Lake Shore Drive in East Lakeview came on the market in November 2022.
Built in 1958, the building has 174 units and an attached parking garage.
The building has 2 decks, a party room, an exercise room, a library, doorstaff, bike storage and an engineer.
The listing says it is 98% owner occupied and has $2.4 million in reserves. There are no pets allowed.
In 2021, we chattered about a 2-bedroom in this building that had been completely remodeled and we discussed whether the building was turning over from the older owners to the newer ones.
This unit has also been completely remodeled, with the listing calling it “brand new.”
There are white oak hardwood floors throughout.
The elevator opens into a renovated private foyer which is shared only with 1 other unit.
This unit is a rare condo that has three exposures, east views of the lake, west views and south views.
It has a “chef inspired” kitchen with smart appliances (are those black?), white cabinets, quartz countertops and a breakfast bar with seating.
The living and dining room are open concept and has a dry bar with a 50 bottle wine fridge.
The fourth bedroom could be a den, office or bedroom and is separated by metal framed double glass sliding doors.
The other three bedrooms are in the other wing of the apartment. Two bedrooms share a jack-and-jill bathroom with a Kohler soaking tub with wood accented double vanity.
The primary suite has an en suite bath with two separate vanities and a walk-in-shower with body sprays, and a marble floor.
There is valet parking available in the building for $260 a month, laundry in the unit with a sink and storage, and window a/c.
The HOA includes almost everything, including electricity.
This building overlooks the Belmont Harbor, the lake, and is near the shops and restaurants of east Lakeview.
Bought in July for $330,000, it has come back on after the renovation at $664,900.
Buyers love “new.”
Will this sell quickly even with the tough market conditions?
Keith Brand at Redfin has the listing. See the pictures and floor plan here.
Or see it this weekend at the Open House on Saturday, Dec 3 from 11 AM to 1 PM.
Unit #13A: 4 bedrooms, 2.5 baths, 1800 square feet
- Sold in September 1988 for $195,000
- Sold in May 1992 for $191,500
- Sold in February 2004 for $375,000
- Sold in July 2022 for $330,000
- Currently listed at $664,900
- Assessments of $1532 a month (includes heat, a/c, electricity, gas, doorman, cable, exercise, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $7,007
- No central air- but window units
- Washer/dryer in the unit
- Valet parking available for $260 a month
- Bedroom #1: 13×18
- Bedroom #2: 13×13
- Bedroom #3: 15×14
- Bedroom #4: 12×12
- Living room: 18×21
- Dining room: 15×21
- Kitchen: 7×15
- Laundry room: 8×6
“appliances (are those black?)”
Looks like black stainless. Fridge already has a huge scuff on the freezer door.
The window ac is a huge bummer–ruins the look.
The room with glass doors and the laundry thru it is not a “bedroom”.
Best sale comp: https://www.redfin.com/IL/Chicago/3180-N-Lake-Shore-Dr-60657/unit-14H/home/13372043
Should be marketed as a 3BR with the glass door space being a TV/Family room
Seller/flipper must think rates are sub 3%
“The window ac is a huge bummer–ruins the look.” along with most of the finishes. Could have been a pretty cool MCM home. Shocked theres no shiplap
why do people mount tvs so high?
Agree re: making the glass-doored room the TV room. That would show well and live well; the little desk looks silly.
Agree re: the window ac. At floor-level would be a big improvement.
Generally like the unit. Was running by the building last week on the Trot and for a second mistook it for a hospital.
Question for the Chatterati: If you had a tiny kitchen with wood cabinents, what color backsplash would you do? We’ve got light blue tiles than I’m considering having coated via the “Miracle Method” (re-colored our tubs/shower tiles with them). Will be replacing cream/tan colored formica counters with some type of darkish stone or concrete.
““The window ac is a huge bummer–ruins the look.” along with most of the finishes.”
I love the finishes in this unit. Totally on point and what you would get in a new build unit or apartment. Good job renovators. I especially like the light fixtures and the kitchen backsplash.
The wood wall in the walk-in-shower is also totally in trend and unique. I haven’t seen that in other units before and provides a warm, upscale feel to the bathroom.
Also like the metal doors to the 4th bedroom/den and the dry bar painted the dark tone with the wood shelving. Fantastic.
Great choice of hardwood floors too. Dark floors are out but the warm blonde floors aren’t back in yet. It’s really a neutral wood look now.
What do people think about the black appliances? I will be glad when the stainless look finally moves off the stage.
“The room with glass doors and the laundry thru it is not a “bedroom”.”
It has a closet and windows. Legit a bedroom, if they want to call it that (which they have.) But that’s why the listing says it could be used as a den or an office. With many still working from home, or hybrid, this is a unique opportunity to have 3 full bedrooms AND an office.
“a unique opportunity”
No, it isn’t.
“No, it isn’t.”
Yeah, it is unique. The “comp” you cited to anon(tfo) doesn’t have this set up. This renovator was smart to convert the old dining room into a bedroom/den so that you STILL have 3 full bedrooms to use if you want to. Heck, you could have DINKS working from home and have 2 home offices. Super unique in a high rise at this price point. Would normally have to pay over $1 million to get that many extra “rooms.”
The 1950s, 60s and 70s high rises mostly had this kind of layout with a separate dining room which can now be closed off and made into a den. More people should do it. That living room is huge. Can easily do the combination (as they have done here) of living/dining room and then better use that dining room space for an office.
There are just 6 properties priced under $700,000 that have 4 bedrooms and 2.5 bathrooms, including this property. Only one other is in a high rise.
“a unique opportunity”
“There are just 6 properties”
“I love the finishes in this unit. Totally on point and what you would get in a new build unit or apartment. Good job renovators. I especially like the light fixtures and the kitchen backsplash”
You also have very poor taste.
“Question for the Chatterati: If you had a tiny kitchen with wood cabinents, what color backsplash would you do? We’ve got light blue tiles than I’m considering having coated via the “Miracle Method” (re-colored our tubs/shower tiles with them). Will be replacing cream/tan colored formica counters with some type of darkish stone or concrete.”
What species of wood and are you keeping them as is or painting?
Love polished concrete tops, but they really need an industrial/clean look
“What species of wood and are you keeping them as is or painting?”
Not sure. They look too (light/medium) brown to be cherry. Sort of like that burl look you see in car interiors. Will keep them as is.
Visible window AC units in any condo priced over 300k are a non-starter for me. At nearly $6k/mo for this place, that would make me very unhappy to see each day.
“Not sure. They look too (light/medium) brown to be cherry. Sort of like that burl look you see in car interiors. Will keep them as is.”
If its real burl (vs a burl Plam), I’d design around it (I’m a figured wood whore)
That being said, burls make an aggressive statement and are pretty formal. I would want backsplash and tops to be fairly monolithic. Colored Concrete top could be cool, might be easier/cheaper going SS. Solid color (non-monolithic/beige) backsplash tile would work knocking down the formality.
If you want formal – Beige and Travertine backsplash
Or you could pull a sabrina and paint everything grey & white
“At nearly $6k/mo for this place, that would make me very unhappy to see each day.”
Having lived with them for a decade myself, you really don’t notice them after a few days but I would prefer to have a wall unit, like the Hancock has, than in the actual window like this.
Sorry, but this building is simply too geriatric for me. I hate to sound ageist (and I’m in my 50’s, so can I actually be ageist?) but I wouldn’t want to live in a building that’s so much like an old folks home.
Also, this building is incredibly homely. It was built in about 1950 and hasn’t ever had its exterior updated, seemingly. I’m pretty sure there’s no way to make it more attractive even if they tried.
To be fair, it’s a nice unit aside from those AC units. We had wall units at the Hancock which were far less obtrusive.
Also, too bad this unit is on the south end of the building staring right at 3150. Would rather have open views on the north end.
“You also have very poor taste.”
This is a professional flip. When you flip a property, you want to renovate it with the idea of getting the maximum out of it. It has nothing to do with “taste.” It’s a business decision.
And, boy, did they do right with this one. It looks straight out of West Elm or CB2, including the bathrooms. Tile choices and finishes completely on trend. A buyer just needs to go to West Elm, order all their furniture, and can move right in.
99.9% of buyers cannot envision a property. You have to give them what they want. This renovator did that. Kudos to them.
I love it. I wouldn’t change a thing.
“There are just 6 properties”
Yep- and only one other one in a high rise. I would say 2 properties in all of Lakeview currently on the market IS a “unique opportunity.” Should I have said “rare” anon(tfo)? But no, because you would STILL criticize my use of “rare” by saying “but there are 6 of them.”
Yawn.
Don’t put in stainless steel counter tops anonny. They scratch immediately and look horrific after a few weeks. If you don’t mind that “look” then they DO withstand most other issues which is why they are used in professional kitchens.
As for the tile question, there are literally thousands of choices and without actually seeing the countertops, cabinets, the style, the lighting etc. it’s impossible to tell you what to do.
“appliances (are those black?)”
looks like the refrigerator is the Samsung Bespoke model. They’re highly customizable with a lot of color panels in glass or steel.
“Also, too bad this unit is on the south end of the building staring right at 3150. Would rather have open views on the north end.”
I hate north facing high rise units. They actually sell for less in nearly all buildings because most people don’t want them. Same with apartment rentals. You get no natural light in, which matters in the dreary north of the country, especially in the winter. At least, if it’s a corner unit like this one, you would still get east and west exposures.
Some dislike southern exposures, however, because the sun can be brutal all summer. You have to keep the blinds closed most of the day or your home will overheat.
“This is a professional flip. When you flip a property, you want to renovate it with the idea of getting the maximum out of it. It has nothing to do with “taste.” It’s a business decision.
And, boy, did they do right with this one. It looks straight out of West Elm or CB2, including the bathrooms. Tile choices and finishes completely on trend. A buyer just needs to go to West Elm, order all their furniture, and can move right in.
99.9% of buyers cannot envision a property. You have to give them what they want. This renovator did that. Kudos to them.”
And in 3 years when this trend is finally played out, they’ll be stuck with a turd they wont be able to move
WE would be fine and their MCM collection would have suited this well and probably would help overcome the other poor design decisions, but again the finishes are not anything resembling MCM nor is the furniture. It looks like complete crap (Not shocking you think its perfect)
This is “perfect” for sheep
“And in 3 years when this trend is finally played out, they’ll be stuck with a turd they wont be able to move”
Huh?
First, the trends usually don’t fade out that quickly in Chicago. They come in slowly stick around about 5 years and then fade. White cabinets, for instance, have been “in” for over 10+ years now. The flooring only just came in, so it will probably be around for 10 years.
Second, who is selling their home within 3 years? You shouldn’t be buying if you’re going to sell in 3 years.
Third, we are a very wasteful society if you think you need to change your finishes every 3 years, sending them to landfills. You don’t. Someone is buying this to enjoy. Who wouldn’t still be enjoying this 3 years from now? They will be.
West Elm is the most popular furniture retailer in America, regardless if you live in a house built in 1900 or one built in 1958. Someone who buys this will most likely own some furniture from West Elm, CB2 or its sister brands Pottery Barn or Crate & Barrel. Any of them would look beautiful in this unit because the finishes were designed to be move-in ready and suitable for all tastes.
You really don’t get it JohnnyU. This is a flip. The whole point is for it to be perfect for “sheep.” That’s how this flipper maximizes the sale. They are professionals, you are not. They have done this flip perfectly, complete with putting in the beverage fridges and the nicer details like built- in closets.
Your decisions, as a flipper, is to appeal to the largest audience possible. Who is this audience? Go look at the finishes in the newly build apartment buildings (as I have said many times.) Look at the interior design magazines. Watch HGTV (yes- they actually DO get it right on some of the shows.) Follow interior designers on Instagram and YouTube. Hire an interior designer to tell you what is selling (someone from Renovation Sells).
These flippers did this. Kudos to them. In this market where buyers want everything done and trendy, it should help them close the deal for a premium price. Even with 6%+ mortgage rates.
Looks like a proper flip to me with fairly neutral but appealing design choices. Seems like a terrible economic environment for flipping right now though.
I beg to differ, Sabrina. My north-facing Hancock unit was far preferred to south-facing ones, at least on floors below 80 where the ones facing south looked right into 180 E. Pearson.
But I digress. I also prefer north-facing because there’s less glare and heat from the sun. The views are also crisper because you’re not looking at the sun. I worked on all side of the Sears Tower, up on 84, and definitely preferred north for that reason.
“Seems like a terrible economic environment for flipping right now though.”
Is it?
In Chicago, the inventory is back near record lows. Buyers love new. Your property may be the only option out there in your price point that is fully renovated.
The job market is still strong nationally and in Chicago and people are still buying.
Seems like it’s a pretty good market to be flipping in. I’m sure they would love to be flipping this in a 3% mortgage rate environment with 15-year highs in sales. But they bought it in July which means that rates were already over 5%. They were fully aware of what they were going in for when they did it.
A true “terrible economic environment” would be when there is a lot of job losses and uncertainty like 2008-2009 or 2000-2001. Seems like they are getting it on the market just in time.
“Is it?”
Someone keeps talking about the “ice cold” market–isn’t it a bad idea to try to sell into an ice cold market?
“First, the trends usually don’t fade out that quickly in Chicago. They come in slowly stick around about 5 years and then fade. White cabinets, for instance, have been “in” for over 10+ years now. The flooring only just came in, so it will probably be around for 10 years.”
For a “major” city, Chicago seems like a backwater village. White has been trendy elsewhere for 15 years
“Second, who is selling their home within 3 years? You shouldn’t be buying if you’re going to sell in 3 years.”
A lot of folks based upon the links you post, especially 2/2’s
“Third, we are a very wasteful society if you think you need to change your finishes every 3 years, sending them to landfills. You don’t. Someone is buying this to enjoy. Who wouldn’t still be enjoying this 3 years from now? They will be.”
LOL. You constantly whine about being on trend.
The future buyer is going to pay a premium today for being on trend, a trend that will be dated in a few years. As you said the purchaser is a sheep. Sheep by definition are disappointed when they dont have the latest and greatest
“You really don’t get it JohnnyU. This is a flip. The whole point is for it to be perfect for “sheep.” That’s how this flipper maximizes the sale. They are professionals, you are not. They have done this flip perfectly, complete with putting in the beverage fridges and the nicer details like built- in closets.”
You are drunk.
The point is to maximize profit. Sometimes that means not acting like a sheep. We’ll see how this flipper does…
“In Chicago, the inventory is back near record lows. Buyers love new. Your property may be the only option out there in your price point that is fully renovated.”
I though someone said low inventory would yield appreciation gains, especially with Muh Demographics?
“Someone keeps talking about the “ice cold” market–isn’t it a bad idea to try to sell into an ice cold market?”
Probably if one is sober, if not “its just a number”
“For a “major” city, Chicago seems like a backwater village. White has been trendy elsewhere for 15 years”
Trends start on both coasts and move inland. Chicago has never “led” anything in terms of interior design trends. We follow the coasts. Cherry cabinets were still the trend in Chicago 15 years ago.
“The point is to maximize profit. Sometimes that means not acting like a sheep.”
Just FYI: you want to have the property appeal to as many buyers as possible. That’s the point of flipping. You put in the trendiest things that are in all the design magazines, tv shows, instagram, as you possibly can.
Sell the dream.
“Someone keeps talking about the “ice cold” market–isn’t it a bad idea to try to sell into an ice cold market?”
Not necessarily. Still 1700+ sales a month with little competition. You have a great property, you will sell it quickly right now. Under 300 properties, total, for sale in Lincoln Park. Wow.
“You have a great property, you will sell it quickly right now.”
That doesn’t sound ice cold to me.
“That doesn’t sound ice cold to me.”
Never have had a market where NOTHING has sold. Even when the pandemic hit, which was another ice cold market.
What would you call this market then anon(tfo)? Slow? Dead? What is it then when sales have suddenly fallen off a cliff and are at 15 year lows?
I would call that ice cold. Frozen.
Interesting to see that inventory is going down, not up, for now. This is exactly opposite what all the bears on this board thought would happen.
“Interesting to see that inventory is going down, not up, for now. This is exactly opposite what all the bears on this board thought would happen.”
Stop day drinking, nobody thought that
“nobody thought that”
Well, if “all the bears” means Bobbo, alone, then she might have a point.
I guess I have poor taste because I really like the reno. I especially like the built in beverage station in the dining area (although I might have done it in the closet of the “office” bedroom instead and made that the tv room.
Question for the Chatterati: If you had a tiny kitchen with wood cabinents, what color backsplash would you do? We’ve got light blue tiles than I’m considering having coated via the “Miracle Method” (re-colored our tubs/shower tiles with them). Will be replacing cream/tan colored formica counters with some type of darkish stone or concrete.
Further question for the chatterati: is there something similar to the ‘miracle method’ for granite countertops? I HATE ours (early 2000s greenish-black), but they’re in pretty good shape and I hate to just toss them out and replace.- (Also, we’ll probably be selling within the next couple of years).
“I HATE ours (early 2000s greenish-black)”
Oh man, your existing counters sound like what I’ll end up installing!
“This is a professional flip. When you flip a property, you want to renovate it with the idea of getting the maximum out of it. It has nothing to do with “taste.” It’s a business decision.
And, boy, did they do right with this one. It looks straight out of West Elm or CB2, including the bathrooms. Tile choices and finishes completely on trend. A buyer just needs to go to West Elm, order all their furniture, and can move right in.
99.9% of buyers cannot envision a property. You have to give them what they want. This renovator did that. Kudos to them.
I love it. I wouldn’t change a thing.”
Unit languishes on the market…
https://www.zillow.com/homedetails/3180-N-Lake-Shore-Dr-APT-13A-Chicago-IL-60657/3721645_zpid/
It listed in November, the slow time of the market. I see they cut the price in January 2023. Still low inventory. It will sell just fine.
I love the finishes. They are definitely right on point. Buyers love move-in ready. This was a great flip.
Redfin shows it as contingent…
Why hasn’t it sold?
With the lack of inventory and “did they do right with this one”, I would have thought there would have been a bidding war.
“Redfin shows it as contingent…”
Maybe the price cut worked. I don’t find it unusual that some properties are staying on the market for several months with rates above 6%. In fact, I’d say that’s pretty good if it came on in November and is already under contract. That’s still a seller’s market.
Is there anything that isn’t a bullish indicator for Chicago RE?
Lol