Looking for New Construction with an Elevator? 3150 N. Southport in Lakeview
This 2-bedroom at 3150 N. Southport in Lakeview came on the market in February 2020.
This is a new construction building by Mavrek Development with 13 units, attached garage parking and an elevator at the corner of Southport and Belmont.
This building has only 2 and 3 bedroom units.
It has sold quickly. This 2-bedroom is the last unit available.
The unit has 10′ ceilings and white oak hardwood floors.
It has a custom kitchen with white and black cabinets with Thermador appliances and quartz counter tops.
The baths have heated floors.
This unit is one of the few that has a large deck off the living room which is on top of the garage.
It has central air, washer/dryer in the unit and attached garage parking is included.
Originally listed for $675,000, it has been reduced to $649,000.
Is new construction still the hottest type of housing in Chicago?
Jeffrey Lowe at Compass has the listing. See the pictures and floor plan here.
Unit #203: 2 bedrooms, 2 baths, 1357 square feet
- New construction
- Originally listed in February 2020 for $675,000
- Reduced
- Currently listed at $649,000 (includes garage parking)
- Assessments of $257 a month (includes exterior maintenance, scavenger, snow removal)
- Taxes are “new”
- Central Air
- Washer/dryer in the unit
- Bedroom #1: 14×12
- Bedroom #2: 11×10
- Living room: 19×17
- Kitchen: 17×9
- Laundry room: 4×4
- Deck: 27×17
However great this unit might be, who would pay $649,000 to live above storefronts on the corner of Belmont and Southport? Not me.
Oh yeah, the room dimensions are tiny, too. The 11×10 second bedroom? Maybe Ok for a baby.
I thought at this price/location it would at least have a third bedroom. Instead you get a huge deck that’s pretty unusable November-April.
“it would at least have a third bedroom”
Top floor units have a 3d bedroom:
https://www.redfin.com/IL/Chicago/3150-N-Southport-Ave-60657/unit-403/home/168655016
But were a little more expensive.
That new condo smell comes at a premium. The price psf is a bit high given that it’s on Belmont with a CTA bus stop right there. The developer’s know that there are plenty of dual income people and trust funders or kids with well off parents willing to shell out the 100k premium to have a brand new unit.
Hard to see what $657K is buying here. I see a smallish apartment with no architectural distinction whatsoever, on a noisy street corner over a store. None of that is offset by the high end appliances in the kitchen, really. This dull, bland, featureless building will fade to ordinary over the next 30 years, though that probably won’t matter to prospective buyers who don’t plan on staying more than a few years. .
Yeah, the location is very trendy, but it didn’t get to be that way until 20 years ago. I’m well old enough to remember when this area was just an ordinary and fading blue-collar nabe. It’s still a neighborhood with not all that much to recommend it in the beauty of the surrounding buildings. Nice, but it’s not like it’s N Lake Shore Drive, or even Logan Boulevard.
I live close enough to this that I used to use the bus stop in front of it (hope to again some day!). I watched this whole project from the old bank being torn down to the build.
There is another similar project on the NW corner (ie across Belmont) where the building (former Flat Top, some salons, a Lebanese place I miss) was also torn down and a similar one put up at basically the same time. That one is apartment (https://sobechicago.com/). According to the site, it’s fully rented except one 2/1/1000sqft unit that they’re asking $3200 for.
A couple notes on this one:
It’s a bank on the first floor and it occupies the entire space. No stores, no empty storefronts, no restaurants, no spa like the apartment building. The bank has been on that site for a very long time (with some name changes due to purchases). I don’t know if they actually own the space or not, but there was definitely a deal with the developer that kept the bank on that spot. During the construction, it moved to the NE corner (that spot was a liquor store that got kicked out so Bow Truss Coffee could move in right around the time all the crap about Bow Truss’ owner being an a-hole and bad at business happened, it’s empty again now that the bank moved back). So, while nothing is certain, the bank isn’t planning to go anywhere anytime soon. As far as living above a commercial space goes, a bank seems pretty good.
The street. Holy crap am I with Dan #2. You want to live above Belmont with the 77 bus driving by 24 hours a day? “Route 77, Belmont, to Diversey AND Lake Shore” or Cumberland or Harlem.
The new condo premium. You’re paying more than $100k premium. There’s a townhouse a block away for $518k (2/2.2/1600sqft) – https://www.redfin.com/IL/Chicago/1248-W-Fletcher-St-60657/unit-B/home/13365614 You could save the $100k and still have $30k to do some updating and have way more space.
the buyer of this unit is going to sell after 2 years and will be in a world of hurt when no one will want to pay their ask. The developer premium is steep here. Honestly, this place is prob worth 550k and maybe at best 600k
The kitchen is cute without being too trendy….easy to repaint those lowers in a few years. Price seems high for size
Open kitchens are for people whose idea of “cooking” is to put together the meal kit from Hello Fresh or somebody, or heat up last night’s take-out. That snazzy high-end range will get very little use. You can’t really cook in an open kitchen, which is why some people with more money than sense are having TWO kitchens built into their places- a designer open kitchen for decorative effect, if appliances are your idea of fine decor, and a “prep” kitchen for the messy stuff, like real cooking and cleanup.
@Laura – I first heard of the 2 kitchens thing on an episode of House Hunters a few years back.
Apparently its a thing from Malaysia. The “wet” kitchen is where you’d do your wok cooking, ie frying with oil and all the mess that entails. ie the real cooking. It would often sorta be outside the main part of the house and not air conditioned. The “dry” one is open to living space where you’d chop veggies, serve, etc.
So, this episode of House Hunters, the wife I think was Malaysian or maybe had lived there or something. She was insistent that the realtor find her a house with that two kitchen setup. Where were they looking you ask? California? Seattle? NYC? Nope. Cape Girardeau, MO.
Not following the distaste of this kitchen at all. It is simple and pretty much the only good thing about this condo. I don’t disagree that the likely buyer of this unit will be thawing out meal kits and the like but this kitchen is almost identical to mine and we cook every night…real food…from scratch. It’s got a gas range, an actual hood vent, the sink placement is perfect. Fridge location is OK. I could work with this. Now, open SHELVING in a kitchen is an entirely other story. I grew up with that….now it’s back. It is quite gross because everything will get covered in a slight film that dust sticks to. Open shelving works in offices not kitchens…unless they are commercial kitchens and the items on said open shelves are getting multiple uses a day and not collecting dust.
The rest of it is abysmally boring and hard to comprehend purchasing something so nondescript when you can rent for the same out of pocket and invest that huge down-payment somewhere else.