Historic Carl Street Studio 2-Bedroom Triplex Returns To Try Again: 155 W. Burton in Old Town
We’ve chattered about this unique 2-bedroom triplex in the historic Carl Street Studios at 155 W. Burton in Old Town several times before including, most recently, in May 2011.
See our May 2011 chatter here.
It has been on and off the market since September 2007, when I first started this blog, with no luck. (In fact, it was among one of my very first posts.)
The Carl Street Studios is one of the most unique properties in Old Town.
Originally built as a mansion in the 1880s, it was converted into the “studios” in 1927. There are only 16 units.
This triplex has ornate mosaic multicolor tile work, stained glass windows and the original Edgar Miller frescoes.
It also has a 2-story wood beamed ceiling, 3 fireplaces and a private 700 rooftop deck (which also is where one of the fireplaces is located).
Not everything is “historic” as the unit has central air and an in-unit washer/dryer.
However, there is no parking. You have to rent it nearby.
The bedrooms are also split- with one on the second floor and the master on the third level.
The unit has now been reduced $200,000 from its first listing in September 2007.
It is also $136,000 under the 2005 purchase price.
Last May, at least one of you thought this would eventually sell for around $450,000.
Will this unique unit finally find the right buyer in 2012?
Mario Greco at Prudential Rubloff now has the listing. See the pictures here.
Unit #15: 2 bedrooms, 2 baths, 1600 square feet
- Sold in September 1999 for $360,000
- Sold in November 2005 for $635,000
- Was listed in September 2007 for $699,000
- Cancelled
- Was listed in November 2009 for $599,000
- Cancelled
- Was listed in May 2012 for $549,000
- Cancelled
- Currently listed at $499,000
- Assessments now $921 a month (they were $935 a month last year) (includes heat)
- Taxes of $9404
- Central Air
- Washer/Dryer in the unit
- No deeded parking- leased in the neighborhood
- 3 fireplaces- including one on the roofdeck
- Bedroom #1: 17×20 (third floor)
- Bedroom #2: 11×17 (second floor)
- Office: 7×4
Ah, I miss miu miu! I agree with her prior statement that the kitchen and baths are too much. I’m sure someone will love them though.
Refreshing to see a listing that proves the rule of assessments only go up wrong. In our building, our assessments dropped slightly one year and have stayed the same for several. If you plan well and are financially smart they do not have to skyrocket.
“Ah, I miss miu miu! I agree with her prior statement that the kitchen and baths are too much. I’m sure someone will love them though.”
The question is- at what price?
This is a prime location in Old Town as well. Not that many properties with a rooftop deck in this location.
I might buy this place for 400k
The kitchen and baths are exactly as they’re supposed to be — updated, but retaining the Miller tiles and character. If you don’t like them, this is definitely not the place for you. I would kill for this place.
If you buy this place, you have to make a commitment not to drink or do any drugs – can you imagine being high or drunk and coming back home and trying to navigate that ridiculous maze of stairs just to go to that weird vomit-inducing bathroom?!!!!
I’m not a fan of art-deco, I just don’t “get” it
This would be a cool home to walk through or visit, but I don’t think i could do this place justice living here, its just not my style
Great place to visit or photograph for a monograph book. But to buy? Well, that 5-year selling history is telling. Unconventional properties are often difficult to sell, and sometimes expensive to maintain or restore to a like-new condition expected by many high-end buyers. We’ve toured many great interesting residential properties with character and architectural integrity, but ultimately declined to buy them because our home purchase is still a significant financial investment too. Once read that single-family brick colonials are the most prudent house choice for a home-buyer.
Art deco is great for commercial spaces, theaters and offices see b of a building downtown and pickwick theater. Art deco had awful reidential applications. That time period produced mainly art and crafts, four sqs and Tudors for homes which are far more attractive. IMHO.
Single family brick colonials are a prudent choice but 1950s and 1960s brick ranches in semi urban areas, 2 car garages and at least 2000 sq feet of finished space incl basement seem to sell like hotcakes these days.
I’M TRIPPIN’ JUST LOOKIN’ !!!
“2000 sq feet of finished space incl basement ”
So you’d have 3+ beds in ~1200 sf? + a finished basement area for a family room, etc?
Don’t we all agree that a 1200 sf condo with 3 beds/2 baths is small/cramped? Why would that then be okay in a SFH?
“The question is- at what price?”
For me, there is no price that would let me put up with this style. Not my taste at all. However, there are people like Michael and Lisa who love the place. How much will they pay? I have no clue, but they claim to love it, so why not $499k with the good location and roof deck?
Unique places like this are the absolute hardest to give a value to. Some people hate them and wouldn’t take them if they were paid to and others will pay nearly anything to have a unique place that fits thier style.
“Don’t we all agree that a 1200 sf condo with 3 beds/2 baths is small/cramped? Why would that then be okay in a SFH?”
It is because you’re forgetting a bunch of other things. in a SFH – 1,500 sq feet above grade and 500+ sq feet finished in the basement incl. another full bath; plus unfinished storage, laundry, etc – plus small yard – front and back, plus 2 car garage (Attached or detached) seems like plenty of space to me for a family of 4. Plenty of families in the Chicagoland area cram into smaller and larger spaces, but somewhere in the middle seems perfectly suitable for most families.
a 1,200 sq foot 3/2 has no yard, no garage, all ‘storage’ is included in that 1,200 sq feet, and there’s no unfinished but useable space for kids to play.
Unique space and a wonderful deck! Very neat, but hachi machi, the finishes and decor, such a mishmash… Would take a ton of $ to make it liveable unless your tastes line up with the current owners (and I suspect that few have such taste).
For a higher-earning single, or couple that doesn’t plan on kids for at least four or five years, this stands to be a pretty good deal. The style obviously isn’t for everybody, but given the size, outdoor space and location, it has a lot going for it. That said, even for folks who place a premium on the walkability of OT/GC (and the easy bus commute to/from the Loop from this property), as buyers of this place would, it’s still Chicago, which means that most of the prospective buyers are going to have a car. $500k for this place wouldn’t be unreasonable (and given the current list, it could go in the mid to high 400’s), but it will take a buyer who (i) doesn’t mind renting a space, (ii) doesn’t mind walking off-site to that space, and (iii) isn’t troubled by the fact that the vast majority of buyers will pass on it (when they go to resell) because there’s no parking space.
“However, there are people like Michael and Lisa who love the place. How much will they pay?”
IF I could afford it (which I can’t), the current asking price seems entirely reasonable to me for the condition of the unit and location. I’m frankly surprised that it’s still available. Miller-designed units will always have some cachet, even if they’re not entirely in tune with today’s tastes, which, given most of the comments above, seems to be the case.
“It is because you’re forgetting a bunch of other things.”
I’m not forgetting anything. I’m talking about room sizes and reasonable layout. I’m talking about fitting furniture into the room spaces. I’m talking about living (or, for Icarus, fronch) room, dining room, kitchen, 3 bedrooms, two bathrooms, coat closet, hall closet, hallway to bedrooms, fitting into under 1500 sf without being small, cramped, or both.
I love it. Not much (if any) character in new construction. I’d love to live in an interesting home with some history. However, need a 3rd bedroom. Based on location and outdoor space I’d pay up to $650k if it had that 3rd bedroom. More appealing to me than all the 60s-80s townhouses in OTT. As far as parking I think if you live here you most likely work downtown and only see your car on the weekends. No big deal to me to park off-site. Real city living, not pseudo suburb.
“only see your car on the weekends. No big deal to me to park off-site. Real city living, not pseudo suburb.”
Why do you *need* three bedrooms? Surely not for kid reasons. Or do you only drive them places on the weekends?
Mario Greco art deco? Heck no!
I like this place a lot. It’s not cookie cutter like so many units we see on this site. I do agree with Clio about the bathroom, however. I’m all for keeping the original design in a historic place, but I’m not sure I could handle that sort of decor on an every day basis.
And it’s under contract. Beneficiary of a little Crib Chatter publicity maybe?
“And it’s under contract. Beneficiary of a little Crib Chatter publicity maybe?”
It’s the power of CribChatter! 🙂
(And a lowered price never hurts either.)