Love Vintage? A Renovated 3-Bedroom in The Barry at 3100 N. Sheridan in Lakeview
This 3-bedroom in The Barry at 3100 N. Sheridan in East Lakeview came on the market in January 2020.
The Barry was built in 1923 and has 65 units and a doorman. There’s no parking but it’s available for rent in the neighborhood.
This listing says that there was “no surface left untouched during the renovation” of the unit.
It has custom millwork, bookcases, new windows and hardwoods throughout.
The eat-in kitchen has white cabinets with Subzero and Wolf appliances and a beverage refrigerator in the wet bar.
There are Waterworks tile and fixtures.
It has heated flooring in the kitchen and baths.
It’s wired for sound and has brand new 2-zone air conditioning.
There’s a gas fireplace and custom California closet organizers.
The building has a playground, an expanded exercise room and a courtyard with tables and grills.
It has washer/dryer in the unit and parking is available for rent for $200 to $300 a month.
This unit was already under contract but just came back on the market.
Will it be under contract again this week at its price of $850,000?
Wade Marshall at Berkshire Hathaway HomeServices has the listing. See the pictures and floor plan here.
Unit #9A: 3 bedrooms, 2.5 baths, 2400 square feet
- Sold sometime before 1992
- Sold in November 2005 for $500,000
- Originally listed in January 2020 for $850,000
- Under contract in February 2020
- Re-listed in February 2020 at $850,000
- Assessments of $1740 a month (includes heat, gas, doorman, cable, exercise room, exterior maintenance, scavenger, snow removal, Internet)
- Taxes of $8,673
- Space pak cooling
- Washer/dryer in the unit
- No parking but available for rent from $200-$300 a month
- Gas fireplace
- Bedroom #1: 17×10
- Bedroom #2: 17×12
- Bedroom #3: 12×11
- Office: 12×8
- Living room: 25×15
- Dining room: 15×11
- Kitchen: 12×8
- Laundry room: 4×4
- Gallery: 31×7
- Foyer: 8×8
kudos for the realator actually trying to sell this unit
Layout is odd. Would have preferred the MBR not be right off the LR
When did a hallway become a gallery?
SF LOL. Really?
FAIL
I agree that the layout is odd. It seems cramped in some rooms.
The taxes seem out of whack – low. Also, how are these renovations being done without permits?
I love this unit but it’s not going to go for $850,000 or anywhere close. That’s a pipe dream. I’d be surprised if it fetches more than $600,000. For comparison, a couple units in a building just as nice (3750 N. LSD) with 3 bedrooms (albeit one of them was the maid’s room), have sold for under $500,000 recently. And these were units with lake views.
“When did a hallway become a gallery?”
Those long hallways in vintage buildings actually ARE galleries. They are much wider than a typical hallway and actually were designed to show off the art.
Remember, these big vintage buildings were built for rich people. That’s why many also had maid’s rooms.
Hi Dan #2
3100 N Sheridan is a condominium, while 3750 N Lake Shore is a co-operative, and one with insanely high maintenance costs at that.
Co-operatives usually sell at a steep discount relative to comparable condos, and there’s a very good reason for that. Co-ops are the financially hazardous form of ownership there is. Co-operative boards have much more discretion than co-ops do, and have the legal power to make financial decisions that are extremely destructive to the larger ownership, in ways that condo associations cannot. Anyone contemplating buying a co-op needs to consider what happened with the 5000 S East End building when it was converted from co-op to condo. Just before the conversion became effective, its Board levied special assessments on all owners that were larger than the worth of the apartments. While the ownership voted by a 75% majority to convert to condo, it did NOT vote on the special assessment- that was the Board’s decision. This would not have been possible in a condominium association, where you need a super-majority of 75% of the ownership to approve a special.
Read the horror story here: https://www.chicagobusiness.com/article/20110510/CRED0701/110519997/hyde-park-residents-sue-over-co-op-s-conversion
Yeah Dan, can’t compare this to a co-op (Why do these still exist again?) –
You have to be kidding at 600k. This will get 750+ easy.
I would say more like $675,000.
The only reason that co-ops still exist is because the co-op to condo conversion is, from what I’ve been told, the trickiest and most legally complex conversion there is, so the legal expense is much higher than, say, a condo-to-rental or rental-to-condo conversion. It’s even worse if there are mortgage or liens of any type outstanding.
It’s supposed to reduce costs, but it doesn’t always. It turns out that the costs of operating 90-year-old high rise maintenance nightmares with 2 or more elevators, 4 shifts of doormen at the front desk, and engineers to care for the building and the complex machinery that large old buildings have, just is what it is. When the units become separate condos, your taxes and HOA will be separate, but they’ll likely add up to the same number. The boilers still have to be rebuilt or replaced, the masonry still has to be maintained, the gas and water bills still have to be paid, and these tend to be big costs in old buildings. So many co-op victims just figure they might as well leave well enough alone.