Classic Gold Coast 1-Bedroom Still Available 10 Months Later: 1450 N. Dearborn
We last chattered about this 1000-square foot renovated vintage 1-bedroom at 1450 N. Dearborn in July 2009.
See our prior chatter here.
The unit is still available and has now been reduced by $20,000.
The 1877 building has great bones, with high ceilings and lots of windows.
The unit has a fireplace.
The kitchen has been updated to bring it into the modern era with a Fisher Paykel dishwasher and refrigerator and a european style in-unit washer/dryer.
The bathroom has also been renovated with a Jado faucet and Duravit sink.
There is no central air and no parking (it is, however, available to rent in the neighborhood.)
Emily Sachs Wong at Koenig & Strey still has the listing. See the pictures here.
Unit #3A: 1 bedroom, 1 bath, 1000 square feet
- Sold in April 1989 for $135,000
- Sold in September 1999 for $219,000
- Sold in October 2004 for $300,000
- Was listed in July 2009 for $399,000
- Reduced
- Currently listed for $379,000
- Assessments of $340 a month (includes heat and water)
- Taxes of $5540
- Washer/Dryer in the unit
- No central air- window units
- No parking (rental next door for $205 a month)
- Bedroom: 15×15
- Living room: 24×17
- Kitchen: 13×10
- Other: 10×7
I like it (except for the striped walls). Nice building. Nice kitchen. Great location.
OT for DZ:
Your house is here, boss: 2042 W Bradley Pl. (or 2139, if you must have the Gator Deck already in place). I’d take either of these over that odd-layout place you looked at. Better street, too.
Now you can’t say I jack up the price *every* time.
I’d really like this place if it had a separate closet for the washer dryer instead of it being in the kitchen, and if it didn’t cost 20% more than my 2/2…
“Now you can’t say I jack up the price *every* time”
welcome back Anon how was the vacation?
I like it too but I NEED central air
“Your house is here, boss: 2042 W Bradley Pl. (or 2139, if you must have the Gator Deck already in place). I’d take either of these over that odd-layout place you looked at. Better street, too.”
“Now you can’t say I jack up the price *every* time.”
Thanks! The style of the 2139 place is nice but the style is not quite to our tastes, especially at $1.3MM. We tend more toward contemporary/modern (at least for new/remodel). I noticed the 2042 listing when it came up, haven’t seen photos yet. It has no garage IIRC. Assume not too big a deal to put one in? Do you know anything about 2042 besides the listing info? Definitely seems promising if there’s no hidden deal breakers. I’d even call it a good deal, except HD will yell at me.
“I’d take either of these over that odd-layout place you looked at”
Yeah, the more I looked at the layout, the less I liked. I thought I was ok with the upstairs but I’m really not. I also like the shorter walk from the houses on Bradley. Haven’t spent much time on Bradley but have noted positive comments on it on here in the past.
“Do you know anything about 2042 besides the listing info?”
I don’t, but I’ll try to pass by and report back. (looks like owners bought a unit on LPW last fall ($1mm+), house was bought for $188k in 1988).
Yes to the no garage, but you could get one done for under $15k (no Gator Deck), if you wanted something simple/standard.
“Haven’t spent much time on Bradley but have noted positive comments on it on here in the past.”
Yeah, me and JPM. Great two block street.
“JGR on July 29th, 2009 at 8:05 pm
$300-$400 / sqft is what nicely renovated vintage 1BRs in the Gold Coast cost. Get over it.”
Whatever happened to this idiot?
This place has a long way to fall in price.
anon(tfo) or others:
Back on the issue of the Bell premium, I just saw a listing at 2039 W Berteau in Coonley (according to listing) for $1.175MM. I don’t know exactly how Berteau is (the house is on a 50ft wide lot), but I gotta think I don’t see a house like that in Bell listing in that price range. As I’ve said before, I haven’t done careful comparisons but it’s seeing a lot of listings like that that give me a strong sense of a ~$100K Bell premium for houses in that price range.
“2039 W Berteau”
“on a 50ft wide lot”
True, but only 100′ of usable depth–it’s triangular and only 2525 SF. Lot’s long side (west) is along an alley adjacent to Lincoln, with not the best, but not the worst commercial neighbors. Front yard is basically all you get for green. Nice-looking GatorDeck (with double views for wildlife spotting!).
It’s Mangan, and if you like the style (I do, many don’t) it’s *very, very* well done.
You could comp it to the Mangan house on Oakley ($1.675, so no one need look); Oakley is a 73% larger lot (35×125) and will be a substantially larger house. It’s also not a perfect location (8-unit apartment on one side, 3-flat on the other) but better than Berteau, I think. And you’d get a usable city backyard to go with your GatorDeck and probably the Mangan outdoor fireplace Berteau seems to be missing.
“True, but only 100? of usable depth–it’s triangular and only 2525 SF.”
Oops, that’s what I get for reading quickly.
“You could comp it to the Mangan house on Oakley ($1.675, so no one need look); Oakley is a 73% larger lot (35×125) and will be a substantially larger house. It’s also not a perfect location (8-unit apartment on one side, 3-flat on the other) but better than Berteau, I think.”
I still don’t get stuff like that. If we’re paying $1.675MM (which we’re not in case my wife is reading) I don’t want to be between the 3 flat and especially the apt building. How much more would a better situated lot have been? $100K, $200K? I’d rather pay more or cut back in some other aspect of the house. I know everything costs what it costs, but seems to me like building a $1.7MM house with a substandard kitchen.
“How much more would a better situated lot have been?”
It’s not just cost, but availability. Very few 35′ wide lots in NC, which that Mangan-Oakley lot is.
“2042 W Bradley Pl.”
There are (finally) photos up. Have also looked at the listing more carefully. Number of issues:
1. Put in garage, say $15K.
2. Bathrooms are big issue. Is there really no half bath on the main floor? Is one of the two baths actually in the basement as per listing, so that leaves one bath for the 5 bdr up? Uggghhh. What’s a ballpark for doing another nice but not luxe bath on the second floor (maybe making a true master suite and taking out one of the bedrooms if necessary), adding in laundry on 2nd floor, and a half bath on first (if there’s room somewhere)? That still leaves no bath on third floor, which is where guests would go.
3. Kitchen will need a remodel sometime. We could probably live with it for now as is, but that has to be reflected in the price.
Say house sells around list. I’m over $1MM with (1)-(3) probably, no?
“Say house sells around list. I’m over $1MM with (1)-(3) probably, no?”
Yes, or at least v. close. Which is why I’ve said to buy something that’s already done (more or less) the way you want, rather than suffering thru living with work being and to be done, if you can afford it.
Guess that’s pushing you more to B’town or the ‘burbs, eh?
“Which is why I’ve said to buy something that’s already done (more or less) the way you want, rather than suffering thru living with work being and to be done, if you can afford it.”
Another thought we’ve had is that we could get something done the way we want it before moving in. Our current rental is cheap enough that living in it for a few months or more would not be that big a deal. Bigger headache from my perspective is managing the work but as you’ve said I can always hire someone to manage it for me (but then I have to manage that person).
Wife likes a lot of the woodwork and details in this place, so we may stop by the open house. If we really could get everything done in the neighborhood of $1MM, that might be enough if we like the house.
“Guess that’s pushing you more to B’town or the ‘burbs, eh?”
Burbs are out regardless, at least as of today. Bucktown or Logan Sq plus private school (which might be needed in Bucktown anyway) is a definite option.
“If we really could get everything done in the neighborhood of $1MM, that might be enough if we like the house. ”
Do you know a contractor you would use? If so, please send me their info.
$170k really is enough for a LOT of work, especially if you don’t use v. fancy finishes (but still not Menards specials).
“Do you know a contractor you would use? If so, please send me their info.”
Not yet, figured it might depend on the location and type of work. Will let you know, or more likely ask you for recommendations.
“$170k really is enough for a LOT of work, especially if you don’t use v. fancy finishes (but still not Menards specials).’
That’s what would work in our favor. We want nice, but don’t need or even really want the highest end finishes. Would rather have functionality that’s useful to us.
I’m not sure what price or market for this house is. It’s nice in many many ways but I would think not move in ready for most people.
Not a lot of recent comps in Bell. There was a place on 3900 block of N Hoyne that needed work, which I never saw, listed for high $700K last year and didn’t sell. There was that badly reno’d house on Bell (not the $1.2MM one) that went for around $700K (from memory) a few months ago.
“There was that badly reno’d house on Bell (not the $1.2MM one) that went for around $700K (from memory) a few months ago.”
That was half (slight exaggeration) the size of the Bradley place. And, as nice a street as Bell is, esp the 37 and 38 blocks, Bradley b/t Damen and Leavitt is nicer.
The problem I see is that, at $829, even with the issues you note, there’s a reasonable chance it’s under contract next week after the open house b/c of the lack of under-$1mm supply issue you’ve also noted.
“The problem I see is that, at $829, even with the issues you note, there’s a reasonable chance it’s under contract next week after the open house b/c of the lack of under-$1mm supply issue you’ve also noted.”
It is I think the only house in Bell under $975K that’s been for sale all year. Maybe we wait a month and if it’s not under contract, put in a discounted but not complete lowball offer.
DZ:
Drove past yesterday. have some thoughts I’d rather share non-publicly (nothing bad, but still). email anon_tfo at hotmail if you’re interested.
anon, thanks! Sent you an email from dz_account at hotmail.
One year later, this is now $359,000.