Looking for a Loft Penthouse with a Rooftop Deck? 3201 N. Ravenswood in Lakeview
This 3-bedroom penthouse loft in 3201 N. Ravenswood in Lakeview came on the market in June 2019.
The building was constructed in 1918 and has 35 units and gated outdoor parking.
The listing says it was Chicago’s first historic loft conversion.
This loft has authentic loft features including exposed brick walls and a wall of industrial windows along with a 12 foot timber ceiling.
However, it also appears to have some kind of addition as the living room has normal drywall and regular, non-industrial windows.
While listed as a 3 bedroom, the third bedroom is currently being used as a formal dining room although the listing says they will give a $5,000 credit to rebuild the third bedroom.
Both bedrooms are en suite. The master bedroom also has a large walk-in-closet.
There is a private, fenced in terrace off the living room but that’s not the only outdoor space.
There’s a spiral staircase that leads to 2 private decks with city views including one with a large pergola.
The kitchen has custom wood cabinets, a large island and stainless steel appliances.
The loft has the features most buyers look for including central air, washer/dryer in the unit and gated parking is $15,000 extra.
Originally listed at $649,900 in June 2019, it has been reduced $20,000 to $629,900.
Will the 3 outdoor spaces make the sale on this loft?
Anne Connolly Rief at @Properties has the listing. See the pictures here.
Unit #401: 3 bedrooms, 2 baths, 1456 square feet, penthouse
- Sold in December 1993 for $185,000
- Sold in February 1998 for $230,000
- Sold in September 2001 for $340,000
- Sold in October 2003 for $408,000
- Originally listed in June 2019 for $649,900
- Reduced
- Currently listed at $629,900 (plus $15,000 for gated parking)
- Assessments of $260 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $7399
- Central Air
- Washer/dryer in the unit
- Fireplace
- Bedroom #1: 13×15
- Bedroom #2: 10×11
- Bedroom #3: 11×10 (now a formal dining room)
- Deck: 15×16
- Deck #2: 15×13
- Terrace: 17×12
- Walk-in-closet: 9×12
This is a two bedroom. I hate it when realtors play these games.
While listed as a 3 bedroom, the third bedroom is currently being used as a formal dining room although the listing says they will give a $5,000 credit to rebuild the third bedroom.
Looking at the floor plan, I think it’s the current living room that is actually the 3rd bedroom. If that was turned back into a bedroom, there wouldn’t be much of a living/dining area.
Presumably if one turned this back into a three bed it would be because they needed the bedroom and the unit would then become just a dorm with a common kitchen / medusa area from which all the bedrooms spring. I also cannot tell if there is a legit hood vent or just a fan? Then it would be a stinky three bed to boot.
I also hate it when folks don’t maintain their wood decks and just let them start rotting.
Hard pass at this price point and not just because you better be super comfortable with your significant otter while taking a dump during the warmer months when you aren’t using that fireplace.
“a $5,000 credit to rebuild the third bedroom”
What about the $15k credit to replace the decks?
There are some good studies that compares outcomes depending on whether you are downwind or upwind of a highway.
See:
https://are.berkeley.edu/~mlanderson/pdf/air_pollution_highways.pdf
or:
https://calhoun.nps.edu/bitstream/handle/10945/61763/w25489.pdf?sequence=1&isAllowed=y
Sorry posted to the wrong “thread”. (Although when I first tried posting it gave me an error saying I was flagged as a spambot, and then gave me a link to what it said was the current post, which I then posted on without checking, and turned out it was the wrong one.). I’m not going to repost but you get the idea.
Also, “significant otter”!
I looked into the downwind thing re: proximity to highways about 5 years ago when considering what was an otherwise awesome house that is about a block and a half north of I-25 (3 or 4 lanes in each direction) and a block south of Wash Park (in Denver). It was a big factor in us making what was deemed to be an insultingly lowball offer.
Can I just buy the roof deck and not the condo?
I knew someone who lived in this condo building a long time ago. Before she moved out, there was a fire in the building (I think someone who carelessly smoked on a deck, perhaps this one) and I remember walking into the building with no electricity, water dripping everywhere to try and salvage some of her belongings. I think there were disputes with the association rebuilding after the fire as well. All of this was probably 10-15 years ago though.