DePaul Greystone Unit with New Kitchen Reduces: 2127 N. Sheffield
We last chattered about this 3-bedroom greystone unit at 2127 N. Sheffield in Lincoln Park in April 2009.
See our prior chatter and pictures here.
The unit had been listed for sale in 2008 and was withdrawn while the kitchen was renovated. It was then re-listed in 2009 with the new kitchen (see prior post for pictures of the kitchens).
Since April, it has had two price reductions and is listed for only $2,900 more than the 2004 purchase price.
Amber Wilson at Baird and Warner still has the listing. See all of the pictures here.
Unit #3: 3 bedrooms, 1 bath, 1400 square feet
- Sold in June 2002 for $288,000
- Sold in August 2004 for $325,000
- Was listed in March 2008 for $369,900
- Withdrawn
- Renovated with new kitchen
- Re-listed in April 2009 for $369,900
- Reduced
- Was listed in April 2009 for $349,900
- Reduced
- Currently listed for $327,900
- Assessments of $200 a month
- Taxes of $4616
- Central Air
- Parking included
- No washer/dryer in the unit
- Bedroom #1: 13×11
- Bedroom #2: 12×10
- Bedroom #3: 10×8
The new kitchen is worse than before the rehab, IMO. See through kitchen cabinets are really stupid. Nobody wants to see your dumb pots and pans.
Also did they cover up a window in their kitchen rehab? What were they thinking?
Why, for the love of god, can’t real estate agents be forthright with potential buyers? Does the agent not think that it just might concern a potential buyer that the backyard contains the El tracks?
This just wastes everybody’s time – the buyer, agent, buyer’s agent and the seller. If the three rules of real estate are “location, location, location,” why not tell people its located on the El. Heck, even spin it positively by saying “close to the El”?
Another development that seems to be selling at a brisk pace: 1256 N Cleaver. Two under contract in the first couple days. Thoughts from the gallery? Is it because these are good locations/prices for young, inexperienced first-time buyers who are taken in by the tax credit and the its-a-great-time-to-buy mantra? Or are these a good deal?
http://www.redfin.com/IL/Chicago/1256-N-Cleaver-St-60642/unit-1E/home/21710579
Yup, the backyard el tracks and only one bath will kill this one. Too bad, as it has some charm, the dumb kitchen redo notwithstanding.
Maybe some rich parent will buy it for their DePaul kid and use it as an in-towner. Thats what they should be hoping for.
The area bounded by Ashland, Division, North and the Kennedy is rather rough.
“Another development that seems to be selling at a brisk pace: 1256 N Cleaver”
Charm? Lol this place is just a cleaned up student rental property. I wonder what your neighbors would be like in this place!
1256 N Cleaver
Finishes look nice. I like the low assessments, but splitting a major rehab item in the future between 5 owners will definitely be a little pricey. Its hard to tell what the floorplans look like from the listing info on redfin, but I think if the parking was included with a unit a sub-$300K price will move the remaining units quickly.
This place is definitely a college or post-college type rental for $2100/mo, and would be a good investment at $300K-$310K.
Get rid of the exposed brick and it might sell… CHEESY!
JPS: “The area bounded by Ashland, Division, North and the Kennedy is rather rough.”
5 years ago, yeah. Now it’s just a quieter version of wicker park (more families, less post-college). The only difference I see when crossing Ashland is that it’s predominantly latino, instead of white.
> 1256 N Cleaver
Those prices are too high for the area. I just bought a unit in the same type of building, gut rehab with exact same finishes, in a nicer spot right nearby and it was $288k.
a place like this in lakeview would rent for $1,500 or $1,600 a month, tops. Maybe it rents for more in LP but I can’t imagine its rents for 33% more. Same target demographic.
> 1256 N Cleaver
have some friends over here, its still pretty borderline, and I can imagine it goes back to being more working class as things continue to settle out in the economy. Noble square never got its chance to take off, plus you get some highway noise over there too
I think 280 w/parking
I agree with this being a good college rental given the floor plan. 3bd/1ba is terrible for sale product.
Only having 1 bathroom for 3 bedrooms is the killer. I would bet that the 3rd bedroom is tiny. Maybe they should just convert it into a master bath? a 2/2 with a master bath would probably sell better than a 3/1.
Whoops, yeah, I see the 3rd bedroom is 10×8, convert that into a nice big bathroom with laundry in it and I bet it would sell better.
Interesting comparison here
http://www.bairdwarner.com/search/property-detail.cfm?guiPropertySummaryID=f7c61168-314f-422b-8906-2c2f1bee49d1&guiSearchID=22bea851-b9e1-4966-bad7-953daaf88bb3&sortBy=PriceDesc&pageSize=20¤tPage=1
Similar kind of 3/1, slightly smaller and all the vintage interior detailing gone, but a couple of blocks farther from the tracks…..
$42K more.
3 bdrms and 1 bath? Hopefully everyone in the family has good bladder control.
It’s baaack. Now listed @ 308k.
Still at $308K. Also still for rent reduced from $2300 to $2100.