Nope, It Didn’t Sell Within Days But This Top Floor Vintage East Lakeview 3-Bedroom Finally Found a Buyer: 432 W. Oakdale
We last chattered about this top floor 3-bedroom at 432 W. Oakdale in East Lakeview in January 2013.
See our prior chatter here.
You all thought it would go under contract immediately as it had all the bells and whistles including central air, washer/dryer in the unit and parking.
Instead, it took nearly 5 months to sell.
Originally listed at $719,000, it just closed for $685,000.
If you recall, the unit had crown molding and hardwood floors throughout.
It also had a private rooftop deck.
The listing said it had a new kitchen and baths. The kitchen had maple cabinets, granite counter tops and stainless steel appliances.
The unit had a south facing sunroom and a large family room.
I asked if it was going to be able to command a premium over the 2006 purchase price of $590,000 and clearly the answer is “yes.”
Jennifer Ames at Coldwell Banker had the listing. You can still see the interior pictures here.
Unit #4: 3 bedrooms, 2 baths, 2500 square feet, 1 car garage
- Sold in January 1996 for $175,000 (per Zillow as I couldn’t find the public record for this property)
- Sold in January 2006 for $590,000 (per Zillow)
- Originally listed in January 2013 for $719,000
- Sold in April 2013 for $685,000
- Assessments of $380 a month
- Taxes of $9233
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 13×14
- Bedroom #2: 9×12
- Bedroom #3: 13×12
- Family room: 22×15
- Sunroom: 12×8
These folks did fine.
CS out, Chicago has a 1.2% gain from Jan to Feb and 5.1% yoy.
Your bias is showing. They were asking for a 22% premium over the 2006 price, when most sale prices are around or below 2006 prices. They ended up getting 16%, which is still good. When you get into this price range for condos, the pool of buyers drops a little, too, so I wouldn’t think that it’s too negative a result that they got. It took 4 months and a couple of weeks from first listing to closed sale, pretty standard overall.
“It took 4 months and a couple of weeks from first listing to closed sale, pretty standard overall.”
the question to ask then is how long before it went under contract?
I totally failed to call bs on the “2500 square feet”–from the floorplan, most of it is 22′ wide, and it’s under 100′ fron to back (even counting the 12′ wide sun room and the 16′ wide ‘family room’), so it’s *maybe* 2200 sf in reality.
Beautiful unit in a great neighborhood. The price looks right.
“CS out, Chicago has a 1.2% gain from Jan to Feb ”
Not for condos: condos slipped from Jan to Feb.
Also down mtm on NSA index.
I freakin’ love this place! It has everything (yes, a fireplace) and outdoor space. The only issue I would have is using the dining room as a Family Room. Why not just use the living room for that and have a real dining room?
see that shade contraption on the deck? does anyone think those are worth the money?
beautiful unit, great neighborhood. not surprised it sold where it did.
2200 sq feet plus the sq footage of the parking space, right?
“CS out, Chicago has a 1.2% gain from Jan to Feb and 5.1% yoy.”
SFH prices were down 0.8% from January, not up.
I was looking at Seasonally Adjusted, but you’re correct on a NSA basis.
Congrats to the sellers, who’ve enjoyed living in a nice property and appear to have done well on a property purchased during the bubble. And congrats to the buyers, who, while I think they’ve paid a slight premium, will be moving into one of the more beautiful units (in this range) we’ve seen here on CC.
This should have been yours, Anonny.
I still can’t believe someone would pay that much for a 4th floor walkup apartment. You can get a lot of nice places for that kind of money.
“I still can’t believe someone would pay that much for a 4th floor walkup apartment. You can get a lot of nice places for that kind of money.”
link to example please
Exactly – link to an example of another place in the neighborhood as nice as this one for the price (and assessments). Unless you want to pay $1 million or more for a SFH, or want to pay $2,000 a month assessments in a vintage co-op like 3500 LSD, you’re not going to do much better than this in Lakeview.
That said, there are nicer walk-ups in Lakeview, but they’re more expensive. Check out the one that was recently for sale (I think it sold) at a list of $1.4 mln. You get a huge full floor, garage parking and a big (shared) backyard, as well as a balcony.
http://www.youtube.com/watch?v=_ZGQrLTYvX4