How Much Does A New Kitchen Matter? 3118 N. Lincoln in Lakeview
This 3-bedroom penthouse at 3118 N. Lincoln in Lakeview has been on the market since June 2012.
It last sold only 14 months ago, in June 2011.
But the new listing includes a entirely new kitchen complete with floor to ceiling cabinets, slate floors, and a huge kitchen island with granite counter tops and a wine fridge.
You can see the 2011 kitchen from the prior listing pictures here (click on photos).
The unit is west facing and has 1800 square feet on one level.
It has 2 skylights and there is a much coveted 2 heated garage spaces included.
The building has an elevator.
This unit has been under contract at least once (as I was going to post on it weeks ago but saw it was already under contract.)
Originally listed $49,900 more than the 2011 sales price, it has been reduced $10,000.
Will the new kitchen make a difference in the sale of this unit?
Eric Newman at @Properties has the listing. See the pictures here.
Unit #5B: 3 bedrooms, 2 baths, 1800 square feet, 2 car garage parking
- Sold in April 1999 for $350,000
- Sold in February 2007 for $534,000
- Sold in June 2011 for $450,000
- Originally listed in June 2012 for $499,900
- Reduced
- Currently listed at $489,900
- Assessments of $247 a month
- Taxes of $7150
- Central Air
- Washer/Dryer in the unit
- 2 skylights
- Bedroom #1: 18×13
- Bedroom #2: 15×10
- Bedroom #3: 13×12
Nice kitchen! It sure looks much improved from the last photos. Why are they trying to sell so soon. Divorce, job relocation, health issues, death, or a substantial change / loss of income? Whatever the reason I would suspect that they have improved the property enough that they should at least command a small premium over the prior sale. Hope that they get it back under contract again soon.
decent looking kitchen, but that floor just screams homedepot special, as well as the drop down lights. Imagine they will be under contract again soon though as 3 bedrooms seem to be selling pretty quickly and it’s not outrageously priced.
I wish they had added a second dishwasher.
I agree with Trudi while it is a nice new kitchen the floor is pretty cheesy. Also the several bold paint colors in the place are somewhat jarring.
I’m not surprised it was under contract though. It should be again before long.
I believe all of the units in this building have 2 garage spaces. It appears the sellers is just trying to recover their transaction costs and maybe some of the upgrade costs with this sale.
Unit 4B was on the market forever as a relocation. It was dirty, but had good bones and sold for $375K in January, which seems like a good price.
Listing says SOLD. I would peg sales price at $450K.
“Listing says SOLD. I would peg sales price at $450K.”
Yes- that was last year’s sale- in June 2011. It sold for $450,000.
It is currently still listed at $489,900.
A Redfin agent commented that the association has almost no reserves due to legal issues. I wonder whether this is why this condo fell out of contract…
I can tell you exactly what happened as I was the person under contract for this property. It’s a really nice/unique apartment – and the kitchen is even nicer in person. (and the slate floor is not cheesy at all – again looks much nicer in person than in pix.)
The Redfin agent is right – there is next to nothing in reserves and no real attempt to build up reserves because they would rather “fix things as they come up.” Unfortunately I don’t know that they actually do that – according to the meeting minutes there was a leak in the garage for well over a year that had yet to be fixed. The listing agent lives in the building and is condo board president… and he’s the main reason I backed out. His explanation for why they never fixed the garage leak was that “no one ever complained about it.” I got a lot of inaccurate info from him that was contradicted in the meeting minutes – and I just didn’t feel like I could trust him or the association to take good care of the building. Bottom line – beautiful apartment but fishy association.
So this answers my question; looks like the dark cabinets in the kitchen are still a thing. hrm.
3 bedrooms and in burley = good
on lincoln = bad
3 bedrooms and in burley = good
on lincoln = bad
Also really BAD…living over a restaurant comes with unwanted neighbors in the form of roaches and rats.
Whoops. I still think it will sell for $450K.
@ logansquarean — This is a hideous kitchen, imho. Everything’s too dark (not enough contrast, to the point where the dark colors are competing with one another), with the exception of the hideous floor (looks like a bargain bin purchase). The only good thing is that they added more cabinet space. I wouldn’t use it to judge what’s “in.”
And let me add my obligatory comment that I hate mixed color slate in kitchens, that crap belongs in a mud room or outdoor bathroom or something