How Hot is West Lakeview? A Top Floor 2-Bedroom at 1348 W. Wellington
This top floor 2-bedroom in a vintage greystone at 1348 W. Wellington in Lakeview recently came on the market.
The greystone was built in 1878. The listing says it was originally a mansion for a local physician.
The house now has 4 condo units.
Unfortunately, none of the vintage features survived in this unit.
It does have high ceilings and hardwood floors.
The master bedroom has an ensuite bathroom.
The kitchen has light wood cabinets, granite counter tops and stainless steel appliances.
There’s also a brand new private roof deck with city views with an entry where you open the hatch on the roof to access it (see the pictures in the listing.)
This unit has the other features buyers are looking for including central air, garage parking and washer/dryer in the unit in its very own separate laundry room.
Some of you may be familiar with this greystone because it sits right next door to the funeral home at the Wellington/Lincoln intersection that was recently purchased and is apparently being converted into apartments and commercial space.
The unit came on the market at $785,000.
No square footage is listed, but can it get that price point without the mention of luxury finishes like Subzero or Viking?
Brian Ban at Re/Max Exclusive has the listing. See the pictures here.
Unit #3: 2 bedrooms, 2 baths, no square footage listed
- Sold in April 1999 for $284,000
- Currently listed for $785,000 (includes garage parking)
- Assessments of $239 a month (includes exterior maintenance)
- Taxes of $6315
- Central Air
- Washer/Dryer in the unit
- Private rooftop deck
- Bedroom #1: 13×13
- Bedroom #2: 10×10
- Living room/dining room: 24×27
- Kitchen: 13×11
- Laundry room: 9×7
I don’t see the value here whatsoever.
Not a chance.
Seriously?
They must be targeting people from NYC and the Bay Area relocating to Chicago…
Of all the pathetically overpriced crap Bri likes to point out on the blog, this has got to be the most patheticest overpricedest crappiest!
Congrats!
Yikes! Now at least its an extra wide unit and has a personal rooftop deck but… lol
Are we missing something here with this listing? Does it come with a $250,000 mail-in rebate that the agent forgot to include?
That’s insane. Here’s a somewhat similar townhouse 2 blocks away:
https://www.redfin.com/IL/Chicago/1356-W-Fletcher-St-60657/home/13365617
It went for $521k back in May. 2/2.5, roof deck, similar kitchen finishes, nicer bathrooms, roof deck but not as big. Looks a little smaller in the LR/DR combo, but has an office/family room. Seems like this should be $550 at best.
Yikes, I hope this is not a top of the bubble sign. slap dash looking rehab and way over priced.
What the WHAT? That price has to be a typo.
The exterior is lovely, though. And that hatch leading up to the roof deck will let you pretend you’re one of those crazy survivalists!
this place provides a great value with plenty of opportunities for future appreciation.
All of the interior finishes look like they were chosen in 2001 or earlier.
What’s the roof deck ‘worth’? Max $50k, right?
And I think that that access–as nice as that door is for a flat roof access point–is a drawback. One has to run up the stairs and open the door, then go back down to carry anything up. And if you close it to keep bugs out/conditioned air in, that’s a long reach from the landing to the latch handle. C+ solution, at best.
“C+ solution, at best.”
The other solution was to build an entire door/box/landing whatever the hell its called and I’m sure that was a lot more expensive for something that is rarely going to be used.
“I’m sure that was a lot more expensive for something that is rarely going to be used”
I’d use it a lot more with a ‘hut’ than with that set up.
The part of the deck that is at entrance level should at least have a narrow section that provides access to the handle side of the door. As it is, it is at best awkward to open from above, and possibly somewhat unsafe.
This is certainly overpriced crap. [Edited.] Buyer beware with this one.
Asides from that, who the hell wants to live next to a funeral home? If anything this lipstick on a pig unit should be sold for $100k less than comparables which are selling for around $550k.
THIS DOES NOT RAWK. OR EVEN ROLL. LOLZ!!!!!!!!
You know the saying about a fool and their money right?
Someone relocating from somewhere far more expensive who doesn’t have the time or brain cells to do proper research may go for this. Overpriced by $200K at least. Meh finishes that were “Meh” when they were new, although I do like that the kitchen cabs go to the ceiling. That is about the only thing I like in this kitchen however. Anyone who cooks knows you could certainly use more counter space around your stove. This was a cheap “re-do as little infrastructure as possible” rehab when it was done. The kitchen does not lie.
I believe the “hut” that would make the roof deck more user friendly is called a “dog house” (at least I have hear that term. Putting a dog house in here might have caused them to go over-height per zoning….I agree, with this type of access, you aren’t going to use the deck as much. Certainly not going to have any of your friends with kids over and definitely a PITA to carry stuff up and down. Someone was trying to guess what a roof deck is worth – – I am assuming they meant from an appraisal adjustment to comps perspective. This one is worth $10K tops. IMHO.
“what a roof deck is worth – – [] from an appraisal adjustment to comps perspective”
No, from the perspective of what one would conceivably be willing to pay v an otherwise identical unit in a building next door. And with an assumption that the identical unit prohibits a roof deck, for whatever reason.
@b – “who the hell wants to live next to a funeral home?”
It’s no longer a funeral home, been closed for a while. As Sabrina mentioned, it’s under construction now. They’ve cut a bunch of window holes into the brick wall on Southport.
“Anyone who cooks knows you could certainly use more counter space around your stove.”
I’m jealous of how much counter space this place provides around the stove. In the house we’re currently renting (while we search), there is actually no counter space (as in, none at all). There’s a nice 3 or 4 inch gap on both sides – between a cabinet on one side and the fridge on the other – just enough to welcome hard to reach/clean crumbs and cooking splashes. It’s absurd.
Can we have a new mythical creature?
We had the unicorn criteria in Chicago
so what is the hypothetical criteria where you are at? and shall we call it the Chimera or something else?
“so what is the hypothetical criteria where you are at?”
In 2010 our Chicago unicorn criteria were (roughly):
* mid-$400’s (assessments no more than $400)
* 2/2.5
* one car garage
* AC
* deck
* ELP
Our current unicorn criteria are:
* $600-700k (the closer to 6 the better; we’re going to need to do a full reno)
* 3/2.5+ (ideally want a 4th for guests)
* two car garage (or a corner lot that could accommodate a 2.5 car addition to the side/rear of the house)
* Within our school attendance areas
It’s going to make our Chicago unicorn hunt look like a breeze, but I’m optimistic that we’ll make something work over this coming winter.
“I’d use it a lot more with a ‘hut’ than with that set up.
The part of the deck that is at entrance level should at least have a narrow section that provides access to the handle side of the door. As it is, it is at best awkward to open from above, and possibly somewhat unsafe”
Its a code violation. Needs to have protection complete around the opening – there are kits that can be added
Looks like the rise/run is mare akin to a ships ladder vs code stairs
In 2010 our Chicago unicorn criteria were (roughly):
* mid-$400’s (assessments no more than $400)
* 2/2.5
* one car garage
* AC
* deck
* ELP
Clarify the Chicago one. There was an ask for 2.5 bath?
AC meaning not wall units?
East of Halsted? East of Sheff?
you morons wouldn’t know value if it dropped from the sky and bonked ya on da heads. this is a great unit priced appropriately. go move to Bolingbrook if you don’t like Chicago prices. I hear you can buy a McMansion out there for $400k, hahaa
“Clarify the Chicago one”
* Initially, a powder room wasn’t a U. Criterion. But, as we found a place that had one, it was added to the U.C. (Note that, while searching, the U.C. was merely aspirational. But once we were under contract on place, the U.C. became a sort of gut check as to whether or not buying was worth it (at a time when it wasn’t clear whether the market had bottom), i.e., here’s a place that has all these attributes, that would could purchase with 10% down and have a total monthly payment well under $3k…”find me a rental that even comes close, and we’ll put off buying a while longer”, etc.)
* AC wall units would have been fine (but not window units). The place we purchased had central, but before that we nearly purchased a place (we were under contract) with wall units (on Lakeview Ave).
* For the most part, ELP means east of Clark (especially for anything less than a SFH or RH). There are a few blocks where it expands a block or two west of Clark, but not many.
“Our current unicorn criteria are:”
In what neighborhood/city?
anonny, I don’t understand. If you’re going to be doing a “full reno”, why would window/wall/CA be a deal breaker?
“anonny, I don’t understand. If you’re going to be doing a “full reno”, why would window/wall/CA be a deal breaker?”
full reno is current situation. the AC issue was in the past.
* mid-$400’s (assessments no more than $400)
* 2/2.5 – powder room
* one car garage
* AC – wall unit
* deck
* ELP – generally east of clark
==
ny and tío
Do we think there is any change in the 400k number in today’s Chicago market?
“Do we think there is any change in the 400k number in today’s Chicago market?”
For the unicorn criteria? Yes. The $400k is now $550k- $600k.
I could understand if Oprah or Michelle farted in the driveway but there is no other way to justify that asking price.
Right next to a new mattress store. $550K maybe
Why would they use multiple types of wood flooring? I don’t understand. Why is one plank of wood in the kitchen a completely different color than the others? Why is the wood on the stairs different than the other types of wood in the house? I would expect this type of weirdness in a $300k place.