Get a 3-Bedroom Duplex Up for the Price of a Townhouse: 2750 N. Dayton in Lincoln Park
This 3-bedroom duplex up top floor unit at 2750 N. Dayton on the border of Lincoln Park and Lakeview has been on the market for 10 months.
It’s been reduced $100,000 in that time.
The unit is listed $57,000 under the 2005 purchase price (if you include the parking in the current asking price.)
At 2,000 square feet, it is bigger than many townhomes in this price range in the same neighborhood.
2 out of the 3 bedrooms are on the second floor along with a lofted family room and a 300 square foot private roofdeck.
The unit also has a second deck, cathedral ceilings and skylights.
The kitchen has stainless steel appliances and granite counter tops.
Located just a few blocks from the Brown Line and the shops/restaurants of East Lakeview and Lincoln Park, is this a deal for a coveted duplex up?
Mario Greco at Prudential Rubloff has the listing. See the pictures and a virtual tour here.
Unit #8: 3 bedrooms, 2 baths, 2000 square feet
- Sold in May 1996 for $285,000
- Sold in November 2002 for $465,000
- Sold in January 2005 for $536,000
- Originally listed in March 2010 for $549,000
- Reduced several times
- Currently listed for $449,000 (plus $30,000 for parking)
- Assessments of $233 a month
- Taxes of $7659
- Private roof deck
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 16×14 (main floor)
- Bedroom #2: 12×11 (second floor)
- Bedroom #3: 12×11 (second floor)
- Family room: 19×18 (lofted second floor)
awesome unit, good location – great price. If I could sell my in-town, I would definitely consider this place.
Thought seriously about this place. At $480k, it’s a lot of space, three beds, outdoor space, (heated) garage, and not entirely cookie cutter. I just couldn’t hack the location.
For someone less picky about location and o.k. with Alcott, this could be a great deal if it closes in the lower $400’s with parking.
anonny, what is wrong with the location?
awesome i can see it now…
the person in the family room watching tv yelling down to the person watching tv in the living room to turn down the volume.
also where is Jon to calc the correct sqft?
Groove – true but I have seen people put up a wall w/decorative windows/glass pocket french doors that can keep out much of the sound while maintaining the open feel.
I think this is a great location, I’ve lived near here in the past and would like to go back. This one is of interest but I hate the finishes (ugly bath and boring ass kitchen) and would want to put some cash in here, so for my purposes, it’s over priced. I say 425k gets it done for me.
Clio, your in-town is on ELSD, and you’d consider this place for an in-town?
As for the location:
1) my absolute western limit was Halsted and this place is a couple of blocks west of Halsted, and when using Halsted as my western-most border, I was really thinking more like south of Fullerton, as my preferred western limit is Clark (especially between Fullerton and Belmont);
2) this place is practically on Diversey; and
3) I had a strong preference for Lincoln attendance.
“Clio, your in-town is on ELSD, and you’d consider this place for an in-town”
It’s half the purchase price, half the monthly costs, a little bit bigger, has a heated parking space and 2 outdoor spaces, and, most importantly, doesn’t overlook a million run down rooms at the westin!!!
I believe Clio’s in town is on E Walton PL, not ELSD, unless he has 2?
You can actually find condos that meet all of anonny’s criteria for around 400k. I don’t know why this seller thinks they can get 480k for this.
Clio,
Didn’t you see the view before purchasing in the Palm? Only the very exp. units have views, such as 32A, which is currently listed/full floor unit.
My client bought with the same views and LOVES it there
“Groove – true but I have seen people put up a wall w/decorative windows/glass pocket french doors that can keep out much of the sound while maintaining the open feel.”
creative idea, still get the light but 86 the sound. that would be way better than looking at the miami vice white railings.
and i am a bit disappointed with the kitdchen, you have all this space and light and get a small kitchen like that? and i would want that island replaced asap.
still not a bad place. boring yes but it makes up for it in size and parking
David,
Yeah – but I was fooled by the prestige of the building and envisioned a life of endless cocktail parties and endless fun nights. Unfortunately, reality is not what the expert marketers at the palmolive were selling. I still prefer to have kept my tiny place at the Drake- much more my lifestyle.
“Yeah – but I was fooled by the prestige of the building and envisioned a life of endless cocktail parties and endless fun nights. ”
You get fooled by a lot of things.
“Unfortunately, reality is not what the expert marketers at the palmolive were selling.”
LOL. QFT.
“also where is Jon to calc the correct sqft?”
Groove, I’ve given up on arguing with MG regarding square footage!
There’s always some clever argument that I am missing like:
(1) it’s just square footage, you dummy, or
(2) it’s how big the unit FEELS not how big it IS, or
(3) square footage includes air space/deck space/wall space/other space and – most importantly – the number is directly derived from a formula a non-realtor isn’t able to comprehend, or
(4) I’m not here to measure the place for you lazya$$!, or
(5) the square footage is based on the plat given to me by the 1864 landowner, so it must be right.
Of course this place is 2000.
Clio,
Do you then have the historic tax freeze since you are an original owner? If so, I wouldn’t complain.
There are a ton of units for sale in the Drake (179 ELSD). No one has the vision to purchase and remodel these days.
“also where is Jon to calc the correct sqft?”
Quick and dirty, it’s pretty close to 2000, w/o including the outdoor space.
“1) my absolute western limit was Halsted and this place is a couple of blocks west of Halsted, and when using Halsted as my western-most border, I was really thinking more like south of Fullerton, as my preferred western limit is Clark (especially between Fullerton and Belmont); ”
Basically a bridge and tunnel view of Chicago.
First of all, this isn’t 1975 so crime west of Clark is not an issue (though it might be going that direction).
Second of all, there is a reason Roscoe Village, North Center and Lincoln Square are nice places to live. You should think about it. How the hell could so many people want to live 2000 west? The horror of it all.
Nice to be close to the lake right because I am sure you i) own a boat so you need quick access and ii) hang out at north ave (now thug ave) beach and play beach volleyball.
“(5) the square footage is based on the plat given to me by the 1864 landowner, so it must be right.”
hehehehehehehehe best one yet
“Quick and dirty, it’s pretty close to 2000, w/o including the outdoor space.”
well it feel larger than 2000 and with the doors open it may feel 3500 sqft.
“Do you then have the historic tax freeze since you are an original owner”
David,
I do – but it makes it much harder to sell. Also, those tax freezes don’t last forever. I shudder to think what my taxes are going to be in a few years!!
“it makes it much harder to sell”
Can’t you just do one of your contract sales (how are prop taxes handled)?
“Can’t you just do one of your contract sales (how are prop taxes handled)”
Property taxes are paid by the buyer to me (and I pay the taxes). Or, they could be put in an escrow account – but I am too controlling to go that route.
Lack of Master Bath is this place’s Achilles Heel.
Otherwise, it’s a great floorplan, IMHO.
http://tours6.vht.com/RRI/T50037788/nobranding
wouldn’t it have made MUCH more sense to switch the location of the kitchen and dining room? You would have a much bigger kitchen (which would be semi private for dinner parties) and you would have a room that flowed better for entertaining. It seems like it would be a much much better layout.
“Lack of Master Bath is this place’s Achilles Heel.”
Wow – didn’t notice that. But I am sure you would notice it when you have guests and you have to walk through the living room/kitchen to get to the shower.
I’d change the main floor bath to a master bath (potentially cannibalizing some of the space from the huge dining room) and reorganize the current laundry room into a powder room with stacking washer/dryer in a closet.
Would be an equity-positive positive modification, IMHO.
“clio on January 5th, 2011 at 12:08 pm
wouldn’t it have made MUCH more sense to switch the location of the kitchen and dining room? You would have a much bigger kitchen (which would be semi private for dinner parties) and you would have a room that flowed better for entertaining. It seems like it would be a much much better layout.”
No. Most buyers want kitchen open to living area. (Cribhater weirdos notwithstanding)
Looked at the floorplan and the lack of master (with a double vanity) makes this less appealing. I’ve been renting too long with shitty bathrooms to buy something that doesn’t have a great, attached bath. Bradford might have the right idea around that problem though.
Good point, Clio!
“I’d change the main floor bath to a master bath (potentially cannibalizing some of the space from the huge dining room) and reorganize the current laundry room into a powder room with stacking washer/dryer in a closet.
Would be an equity-positive positive modification, IMHO.”
This is a good idea and you might not need to rob from the dining room if you got rid of the built in desk thing, which just seems a clutter magnet to me.
The plumbing stack on the “North” wall of the bathroom is a PITA though.
How is that upstairs bedroom legally considered a bedroom? I thought you had to have a window (or natural light for lofts) and a closet to be considered a bedroom in Illinois. The upper room does have a sliding door, but no closet.
So how much do you think it costs per month for gas and electric in this place – for heat and AC?
At asking price, with parking, taxes and assessments you are looking at $2,870 with 20% down.
What is the monthly cost to simply live here?
Not factoring other costs of food, clothes, beer, cable, cell phone, internet, car payment, insurance, gas, etc.
Has anyone witnessed a time when all four stools at the kitchen counter are being utilized? I see that set up a lot but its unclear to me whether there is ever a breakfast bar experience that warrants 4 people at the counter — in a condo to boot.
“How is that upstairs bedroom legally considered a bedroom? I thought you had to have a window (or natural light for lofts) and a closet to be considered a bedroom in Illinois. The upper room does have a sliding door, but no closet.”
Groove and I will come over tonight and install a “closet” if MG brings the sheetrock, lumber and beer. The obsession here with “must have closet to call it a bedroom” is ridiculous.
And in what world is a sliding glass door not the functional equivalent of a window?
“The plumbing stack on the “North” wall of the bathroom is a PITA though.”
Depends on where the vent and drain stacks are. Easy enough to flip the vanity to the “south” wall, if you can put a door in where it currently is. Anything else (ie, moving the toilet and/or shower for the door) does become meaningfully harder.
“Has anyone witnessed a time when all four stools at the kitchen counter are being utilized? I see that set up a lot but its unclear to me whether there is ever a breakfast bar experience that warrants 4 people at the counter — in a condo to boot.”
Eggs n’ hash at the Waffle House.
“Has anyone witnessed a time when all four stools at the kitchen counter are being utilized? I see that set up a lot but its unclear to me whether there is ever a breakfast bar experience that warrants 4 people at the counter — in a condo to boot.”
um yes? ever have a couple over to eat and don’t want to do the whole formal dining bullcrap?
@anon (tfo)
“And in what world is a sliding glass door not the functional equivalent of a window?”
When you have children.
sonies – JMM has a formal dining room with a table that seats 22. Of course he would object to sitting at a gasp! breakfast bar with others. Imagine Jeeves serving beef wellington and having to sit on a stool! how absurd
What do you think is going through the minds of #7 when this unit most likely shows better and has features most buyers probably prefer, even if it’s only minor differences and the kitchen cabinets. I’d love to see Real Estate Intervention come over to talk about the price, then when you go and view the comps you don’t even have to leave the floor.
“You know, I think our half wall upstairs is definitely worth 50k more than anything they may have done, we’re in a much better position than them.”
JMM: First, how is my preference for ELP “a bridge and tunnel view of Chicago”? Having lived in a neighborhood in NYC that would be over-run by the bridge and tunnel crowd every weekend, I’m not getting your reference. Perhaps my having “tunnel vision” when it comes to location was the pejorative you were looking for. Second, the “reason Roscoe Village, North Center and Lincoln Square” are nice places to live is because there are lots of families who want to live in the city, many of whom have 2 or more kids, or can’t afford a decent place closer to the park/lakefront, or even if they can afford a decent place, having a bigger, nicer home is more important to them than close proximity to the park/lakefront. Third, my desire to be within a block or two of the park/lakefront has nothing to do with crime rates. Lastly, if “boating” and “beach volleyball” are the first two things that come to mind with respect to proximity to the park/lakefront, then I guess you and I simply prefer to spend our daylight free time in rather dissimilar ways.
Bob: Where can one “actually find condos that meet all of anonny’s criteria for around 400k”? Honestly, the subject property was about as close I had found, but as explained above, it did not meet the all important location criterion. There were a couple of places on Lakeview, a place on Grant, and a couple of places on Commonwealth that were also tempting, but each failed to meet at least one of my required criteria.
Please bear in mind my much-mocked “unicorn” criteria, for which I was willing to pay $3,000ish/mo (inclusive of association fees and taxes), with 10% down (basically mid-$400ish):
1) Absolutely required:
* 2/2
* garage
* LP east of Halsted
* w/d in unit
* not on ground floor or “low first floor” (and no duplex down)
* wood floors (or permitted installation of wood floors, with a corresponding discount in purchase price)
2) Strongly preferred (bordering on required):
* LP east of Clark
* kitchen is not open to the living room (but may certainly be open to the dining area)
* master bath
3) Greatly desired (bordering on strong preference):
* powder room/half bath
* some sort of private outdoor space (at least big enough for a grill, and ideally big enough to also fit a smallish table and four chairs)
* central air
* working fire place
“@anon (tfo)
“And in what world is a sliding glass door not the functional equivalent of a window?”
When you have children.”
That’s a practicality issue for a buyer, making it unsuitable, not not a bedroom. In the context of “how can that legally be a bedroom”–the context in which you raised it–a sliding glass door is the functional equivalent of a window.
Nevermind, I guess I missed the parking, but still, at $20k above they’re still out of line.
“JMM on January 5th, 2011 at 12:43 pm
Has anyone witnessed a time when all four stools at the kitchen counter are being utilized? I see that set up a lot but its unclear to me whether there is ever a breakfast bar experience that warrants 4 people at the counter — in a condo to boot.”
Every time the owner entertains?
The party is always in the kitchen.
“much-mocked “unicorn” criteria”
I called it a unicorn in the rental context. Those items were, are, and will be available in ownership properties–which also means some will be available as rentals, but they’d be condos more likely to be up for sale at some point, rather than (dependable) long term rental options.
anonny on
Why don’t you go visit the unit on Lehmann that Sabrina highlighted the other day? Roof deck, 2/2, east of Clark
You can probably get them down to mid 400’s
http://cribchatter.com/?p=9798
“anonny on
Why don’t you go visit the unit”
David: He bought already.
because he already bought a place
David, the Lehmann place is solid and beautiful in many ways, but here’s my comment from that thread:
“I essentially stand by my comments in the previous Chatter about this property. Still love the kitchen (even thought it appears to be open to the living area), but just can?t get past the location, price wise.
For people about to have a kid, or a family with one kid (and no immediate plans to have a second), there are better 2/2 options in ELP (see, e.g., recent closings on 2 beds on Cleavland, Webster, etc., generally within $50k, give or take, of this place, in prime ELP locations and within Lincoln elem). This place is much closer to the Diversey/Clark/Broadway intersection, the Golden Nugget and McD?s than it is to the park. For the price, a small family could find a 3 bed in this general location (perhaps just north of diversey), which might not have the expensive new kitchen, but would make more sense.
So, if this place is a non-starter for small families, does it appeal to (i) a single high earner or (ii) DINKs (with no intention of changing that status)? With all that?s out there, I doubt it, especially given that those two classes of buyers are the least restricted when it comes to location and property type.
I feel guilty calling this one at below what I recently paid for a 2 bed (?guilty? because it?s generally in nicer shape than mine, especially that sweet kitchen), but I just don?t see this closing at more than $400k (if that).”
Basically, Lehmann is the Post Office alley, smells like McD’s and whatever rolls off of Diversey. It’s sort of an odd movie-set of a street, with some great properties, just not for me.
Pretty much the smartest RE investor in the history of the Midwest gave me this indispensable piece of advice once-upon-a-time:
“Never, never fall in love with a piece of property. Find several serviceable properties that you can live with and throw insulting low balls at them until one sticks.”
That’s how I got my place in ELP.
That’s *NOT* how the bag holder that wound up with this place did it.
This place strikes me as a party-condo for 3 renters, post-college types or even DePaul students.
Random question for places like this: would it be possible to fill in the opening to create more space upstairs?
“Random question for places like this: would it be possible to fill in the opening to create more space upstairs?”
Probably prohibited in the condo dec, but even if not, certainly cheaper to just buy a bigger place.
“This place strikes me as a party-condo for 3 renters, post-college types or even DePaul students.”
Why do they have to be renters or Depaul students. I could see myself using this as an awesome in-town. Also, I could definitely see a couple living here – even a couple with 1-2 small kids.
anon: Fair enough. I’ve seen a lot of these duplex ups and rarely thought the extra light to the bottom floor was worth giving up all the potential floor space up top.
clio on January 5th, 2011 at 11:14 am
“awesome unit, good location – great price. If I could sell my in-town, I would definitely consider this place.”
ah, the old if I could sell it. Well, Clio, you can sell it if your willing to sell it at the market price. That means you’ll probably take a nice loss, but that’s what the market is an will e for a few years to come. Enjoy the endless cocktail parties.
“Enjoy the endless cocktail parties.”
True – and actually, this is pretty good advice. Everyone who is “stuck” should really start counting the positives of the place in which they live/own. If you really start appreciating it, time will go by fast and, before you know it, 2013-2014 will be here and the market WILL be better then.
People in this ‘hood don’t need big/glam kitchens because LP has plenty of nice restaurants and take-out joints. The homies tend to avail themselves of these institutions and use their kitchen appliances mainly for storing and reheating leftovers.
under contract!!!
What are the odds that all these properties under contract will even close? 50%? A close friend of mine had his closing delayed recently on a 3/2 because the appraisal came in lower and they told him he had to put in another $25,000 in cash, even thought he already had a 20% down payment of low 6 figures.