Forget The New Construction: Buy A Sophisticated 3-Bedroom Vintage Duplex Down: 839 W. Wellington In Lakeview
This 3-bedroom duplex down at 839 W. Wellington in Lakeview came on the market in July 2012.
We have chattered about this building before.
Built in 1898, it was converted into condos in 2004.
The difference is, the developer kept most of the vintage features and also put in upscale non-cookie cutter finishes.
At 2300 square feet, it has coffer ceilings and moldings as well as a unique french chateau style fireplace mantel.
The kitchen is described as a “cooks kitchen” with a large kitchen island, white cabinets, granite counter tops and stainless steel appliances.
2 of the 3 bedrooms are on the lower level along with a family room.
It has central air, washer/dryer in the unit and garage parking.
The listing says the hospital across the street isn’t a problem as far as ambulance sirens because this is a “quiet zone.”
Let’s not chatter about why it is being sold just two years later (there are reasons for it).
Is this unit competition for all of the newer construction duplex downs we chatter about or is the target buyer different?
Teresa Griffith at Jameson Sotheby’s has the listing. See the pictures here.
Unit #1: 3 bedrooms, 2.5 baths, 2300 square feet, garage parking
- Sold in June 2004 for $570,000
- Sold in June 2009 for $637,500
- Originally listed in July 2012 for $650,000
- Reduced
- Currently listed for $620,000
- Assessments of $324 a month
- Taxes of $9108
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 15×14 (main level)
- Bedroom #2: 17×14 (lower level)
- Bedroom #3: 14×13 (lower level)
- Family room: 22×14
Even if the hospital isn’t a noise problem, it is an ugly problem. Who wants to look at a big institutional, 1970’s concrete monstrosity like that outside their window? This place should get a location discount.
Just looked at the photos. Who would pay over $600,000 to live in a basement? Crazy.
The difference is, the developer kept most of the vintage features and also put in upscale non-cookie cutter finishes.
Unfortunately, the developer didn’t keep “vintage features” like a separate dining room and kitchen.
As to the question of whether this place is competitive with new construction: it’s certainly no worse than most of the new construction out there. But it isn’t any better.
“the developer kept most of the vintage features”
Did they? or are those coffered ceilings and trim new. I’m sure those “exotic” hardwood floors are new as well.
This place is priced like its in East lakeview… its nice but come on, its a duplex down (a nice one) but this will ahve trouble selling at the current price
The floors, ceilings and other finishes look very nice, whether original or new. If this were a dup-up, I could see paying $575k and, if it were also east of Broadway, I could see paying about $625k. Dup-up and ELP, at least $7-725k.
Given that it’s a dup-down and across from a hospital (even if in the so-called quiet zone), closer to $525k seems about right. Assessments need to go up as well.
I love coffered ceilings, but this one seems sort of out of scale and overwhelming for this room. Maybe it looks better in person. Anyhoo, I salute the developer for taking risks with the finishers. I wish more people would try stuff like this. Does seem pricey, but I have lived near this location and really liked it a lot (even given the hospital).
@anonny, when I first started reading CC, that was the kind of input I was hoping to find. I.e. what a property should be priced, what could make worth more or less. Thanks for a refreshing comment.
I looked at this place before the sale in 2009, and it was a really impressive space. The pictures don’t really do the finishes justice – they are much better than what we saw in similarly-listed Duplex Downs at the time.
Ultimately we decided we didn’t want any below-grade living, but if we did, this place would have been on the short list.
Annony writes: “Assessments need to go up as well.”
Absolutely true but in a 6-unit building, what you see is what you get. Ask for as many records as you can get and good luck if something expensive happens (plus being in the basement places this unit at greater risk). Regardless of what it says in the Redfin listing, it’s got to be self-managed. Anyone considering buying should look at what all of the other owners paid as if everyone’s not in a good place (likely) the desire to spend on the building will be slim to non-existent. And that’s a snapshot in time. With a small building, even a single unit changing hands can shift the balance of power. Do I sound like someone who lived in a small association???? But a lovely unit and the balance of pros and cons is different for everyone.