Create Your Own Private Haven: A 3 Bedroom Loft at 2804 N. Lakewood in Lakeview
This 3-bedroom penthouse loft in the Metalworks Condominiums at 2804 N. Lakewood in West Lakeview came on the market in October 2023.
A prior chatter said this building was built in 1945. It has 19 loft units and attached garage parking.
I don’t believe there are any amenities.
This loft is an authentic open space, brick and timber loft with 12 foot ceilings and industrial windows mostly.
The listing says you can “create your own private haven.”
There are two staircases in the pictures, a regular staircase and a spiral which lead to the second floor which has a sunroom with exposed brick walls and tile floors and 3,000 square feet of private roof rights.
The listing says there are architectural plans included (and there are drawings showing the roofdeck in the listing.)
It has oak hardwood floors in much of the space and a gas fireplace.
There is not just one kitchen, but two.
They both have modern European style cabinets. One appears to have gray and white cabinets and the other one has white cabinets and an island. Both kitchens have stainless steel appliances and tile backsplashes.
There are 4 bathrooms.
This loft has the features buyers look for including central air, washer/dryer in the unit in a large laundry room and 2 car garage parking spaces at $25,000 each. One of the spaces must be purchased with the unit.
This building is near the shops and restaurants of West Lakeview/West Lincoln Park and the Diversey bus and Brown line stop.
At 3500 square feet, this loft has more square footage than many single family homes in the neighborhood.
Listed at $1.35 million, will it get a single family home price for its single family home square footage?
Randee Wheeler at @properties Christie’s has the listing. See the pictures here (sorry no floor plan, but it does have some drawings of the rooftop deck.)
I’m not certain of the property’s sale history as it looks like there may be two PIN numbers. I’m sure some of you will let us know.
Unit #208: 3 bedrooms, 4 baths, 3500 square feet, penthouse loft
- Sold in September 1993 for $215,000
- Sold in March 2002 for $368,000
- Sold in February 2018 for $530,000
- Currently listed at $1.35 million
- Assessments of $714 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $15,486
- Central Air
- Washer/dryer in the unit
- 2 garage parking spaces available at $25,000 each. At least one must be purchased with the unit
- Gas fireplace
- Architectural plans for 3,000 sq foot rooftop deck included
- Bedroom #1: 18×12
- Bedroom #2: 21×14
- Bedroom #3: 12×12
- Kitchen #1: 13×8
- Kitchen #2: 13×8
- Foyer: 18×12
- Family room: 37×14
- Living room: 25×21
- Dining room: 21×21
- Office: 9×7
- Other: 12×6
- Sunroom: 15×8 (second floor)
- Laundry room: 14×8
“Randee Wheeler at @properties Christie’s has the listing. See the pictures here (sorry no floor plan, but it does have some drawings of the rooftop deck.)”
Putting in the work again – https://real.vision/2804-north-lakewood-avenue-1/floorplan?o=u
Not seeing a 3rd Br
Spiral staircase should be removed, doesnt go anywhere and is redundant with the regular stair
Not a appliance whore, but at >$1MM you should expect more
Pricing reflects what could be not what is. Would take at least $250k to get this to a $1.2MM home
The 2018 buyer got an amazing deal for this space, even if a gut job was needed. That being said, I’d take a SFH in West LV over this place if the size and monthly nut are comparable. That rooftop “could” be amazing but what would it cost to build out 3000 ft.? $200k+?
“Spiral staircase should be removed, doesnt go anywhere and is redundant with the regular stair”
If you built a deck, you’d need the second stair for egress (assuming no common stairs from the roof).
I’d imagine everyone that has bought this place over the years said to themselves they were going to build it out. no one has.
Definitely a lot of space and potential. I kind of like it for what it could be. Price needs to reflect it needs some work.
“I’d imagine everyone that has bought this place over the years said to themselves they were going to build it out.”
I have yet to see one actually built out. Any guesses on what it would cost? Depends on how fancy you want it (gas line etc). But most just don’t want to spend the extra money, even after living there for 20 years.
“Putting in the work again”
Thanks for the link JohnnyU. If the floorplan isn’t on Redfin, I’m not going to go looking for it. I’m too busy for that. I’m glad to see you have spare time to find it for us.
What do people think about that whole wall of windows looking into the building next door? Seems like you wouldn’t have much privacy.
Want space? How about this unit in the West Loop? https://redf.in/erF0H8
“Thanks for the link JohnnyU. If the floorplan isn’t on Redfin, I’m not going to go looking for it. I’m too busy for that. I’m glad to see you have spare time to find it for us.”
And I’m not even a successful and important blogger
Pro tip – http://www.zillow.com
You’re welcome
“I have yet to see one actually built out. Any guesses on what it would cost? Depends on how fancy you want it (gas line etc). But most just don’t want to spend the extra money, even after living there for 20 years.”
If you actually looked at the floorplan/photos you would see that someone is building
They even have a $125k pergola
Do better
“I have yet to see one actually built out. Any guesses on what it would cost? Depends on how fancy you want it (gas line etc). But most just don’t want to spend the extra money, even after living there for 20 years.”
I kinda assumed there is/are. Not sure if the city has max travel distances tho
“If you actually looked at the floorplan/photos you would see that someone is building”
Sigh. Really JohnnyU? How long have you been on this blog? Tsk, tsk.
I can’t even tell you how many lofts I’ve cribbed about over the last 15 years which had “the architectural plans included” and were all ready to go. Yes- even with drawings!
But the rooftop deck was never built. And those plans just get old and have to be redone by the next owner.
I suspect a lot of people hire someone to draft up the plans and then find out it will cost them $200k to get it and they can’t afford it. They paid for the plans, so they keep those, but decades later there usually isn’t a deck. Lol.
I don’t look at Zillow except to find some older listing prices as they often have that data when Redfin does not. I only look at Redfin for the listing/floor plans. If it’s not there, it’s not there as that’s what I link to.
But clearly you have plenty of time in your retirement JohnnyU. Thanks for the link.
“Want space? How about this unit in the West Loop?”
I just saw this unit on a Youtube video. It overlooks the Eisenhower expressway and all you hear is cars even with the windows closed. It’s a shame because it’s cool space.
Imagine the pollution living right up against that highway.
“If the floorplan isn’t on Redfin”
From the Redfin listing:
“Virtual Tour
Virtual Tour (External Link)”
Yes, the link is to the same real vision page.
One interesting thing is that the spiral stairs used to lead to a pretty good sized deck–there are a number of brackets around the doghouse visible in the tour.
I could see the ask if even a basic roofdeck existed today. Having to start from scratch is too big a lift at $400 psf, imo.
As to the price history:
#208 was acquired in 1998 for $320k (+CPI = $605k)
#209 was acquired in 2018 for $530k (+CPI = $655k)
“Sigh. Really JohnnyU? How long have you been on this blog? Tsk, tsk.
I can’t even tell you how many lofts I’ve cribbed about over the last 15 years which had “the architectural plans included” and were all ready to go. Yes- even with drawings!
But the rooftop deck was never built. And those plans just get old and have to be redone by the next owner.
I suspect a lot of people hire someone to draft up the plans and then find out it will cost them $200k to get it and they can’t afford it. They paid for the plans, so they keep those, but decades later there usually isn’t a deck. Lol.”
Its noon somewhere, right?
Wasnt talking about this unit. Someone in this building is building a RTD.
“I don’t look at Zillow except to find some older listing prices as they often have that data when Redfin does not. I only look at Redfin for the listing/floor plans. If it’s not there, it’s not there as that’s what I link to.
But clearly you have plenty of time in your retirement JohnnyU. Thanks for the link.”
I guess the bar is pretty low for a successful and important blogger these days
The other issue here is if you put the deck up and by virtue of that work you void your roof warranty, everyone else in the association will rightfully stick it to you if the roof spring a leak…I think that is another reason why these things don’t get built. You gotta have the company that did the roof also do the deck and agree that you still have a roof warranty.
I was thinking these appliances are embarrassing at this price point. I don’t think these folks will get anywhere near what they want but bless their hearts for trying.
“I don’t think these folks will get anywhere near what they want”
At the ask, and after transacation costs, they aren’t even getting their inflated purchase price–zero for the updates, no value add from combining the units.
Prior CC feature showed a common roof deck that is not there now–must have been a roof repair/replace situation:
https://www.redfin.com/IL/Chicago/2804-N-Lakewood-Ave-60657/unit-108/home/13365194
Other prior CC feature also showed roofdeck:
https://cribchatter.com/looking-for-that-spacious-brick-and-timber-loft-like-you-see-in-the-movies-2804-n-lakewood-in-lakeview/
“Virtual Tour
Virtual Tour (External Link)”
Who clicks on the virtual tour link to find the floor plan? No one. There IS an actual floor plan link on Redfin (gasp!). OR- the agent puts it in the pictures.
“As to the price history:
#208 was acquired in 1998 for $320k (+CPI = $605k)
#209 was acquired in 2018 for $530k (+CPI = $655k)”
Thanks anon(tfo). I knew it had to have two PINs and that it was a combined unit (the two kitchens make that pretty obvious plus the unique layout.)
CPI comparisons are no longer valid as you need to take interest rates into consideration at the time in the comparison. For 1998 they may be valid, but no way in hell can you use CPI from 2018 to arrive at a fair value today. And I’d argue that rates have risen so fast this cycle that the 1998 comparison may not even be valid as prices in 1998 had many years to adjust to those higher rates.
“CPI comparisons are no longer valid”
So, CPI doesn’t provide a guideline for the real value of your dollars?
Has it come back around to me being able to buy a house with my Jim Baker hundos, at Jim Baker-era nominal prices?
Has anyone ever priced out modular roof decks?
like
https://www.deckerhomeservices.com/roof_deck_problems/
sorry this didn’t make the edit.
because i most commonly see the wooden 2×4 gator style decks after making a wrong turn and needing to go down a back alley in Chicago