Not Everything Is Selling Within Days: 13 Months On the Market for 504 W. Barry in Lakeview
We’ve chattered about this 3-bedroom vintage unit at 504 W. Barry in Lakeview several times.
See our February 2012 chatter here.
It’s now been on the market for 13 months.
It’s been reduced $100,000 in that time period.
If you recall, the 10-unit building was built in 1927. The old listing described it as a “gothic jewel.”
At 2200 square feet, the unit has some of its vintage features intact such as a woodburning fireplace and crown molding.
It also has the modern amenities buyers look for with space pac a/c and side-by-side in-unit washer/dryer.
Parking is a premium in the neighborhood, but the unit comes with parking as well as guest parking, a rare bonus.
The listing describes the kitchen as a “chef’s kitchen”. It has stainless steel appliances.
The property also comes with a large balcony- which is somewhat unusual for this type of vintage building.
In February, some of you thought this wouldn’t sell until it was priced in the $500,000s (with some of you even guessing the $400,000s.)
The market has picked up since then.
Is this unit getting closer to a selling price?
Richard Cohn still has the listing. See the pictures here.
Unit #3W: 3 bedrooms, 3 baths, 2200 square feet
- Sold in August 2000 for $427,500
- Sold in May 2007 for $750,000
- Was listed in April 2011 for $779,900
- Reduced
- Was listed in February 2012 for $699,900
- Reduced
- Currently listed at $679,900
- Assessments of $744 a month (includes heat)
- Taxes of $9295
- Space Pac A/C
- In-unit washer/dryer
- Parking included
- Bedroom #1: 17×12
- Bedroom #2: 16×13
- Bedroom #3: 12×12
I’ve said this before and I’ll say it again – I think parquet floors are cool and will be making a comeback! This unit should move at this price.
Gothic jewel? There are some Goth kids that work at my Jewel!
Groove77 (February 7, 2012, 9:02 am)
I love this place, a tad to bland but nothing a bit of paint and wallpaper cant spruce up.
the only thing is at 699k plus 800mo ass fee’s is a hard pill to swallow. if your going to pay high ass fee’s why not just get a vintage unit on LSD?
I love herringbone parquet, but I’ve never cared for the little square blocks.
Other than that, this is a dream apartment. I’ve always loved this small, beautiful building. The HOA is not bad for the amount of space, if it includes heat. The building has an elevator.
But I believe another reduction in price will be needed to sell, like down to around $625K.
Assessments of $744 which includes heat seem pretty good, (better than what we’ve been seeing). You probably don’t need that much A/C by the lake Great location. Nice place.
I looked at this place. The assessments are not merely $744, there is a special quarterly assessment that is being paid which brings it up to more like $900 I believe. Also, the kitchen and bathrooms are not great. The place defintely has charm but the layout is not ideal (bathrooms connected to bedrooms except for the master that faces the hall). There is a reason it hasn’t moved.
will sell for under 500k
weird listing that hints at issues that perhaps dizzy just mentioned.
i.e. umpteen pictures of the living room/dining room, building exterior/lobby, but no pictures of bedrooms or baths. major warning flag.
and, with no doorman (or elevator?), those are pretty substantial (very high if no elevator) assessments.
all that being said…seems like a decent enough place. don’t know the pricing too much in this area but seems like there’d be interest near $600K for sure. we shall see.
“if your going to pay high ass fee’s why not just get a vintage unit on LSD?”
Is this high ass, if it includes heat and elevator as per listing. As @fo would put it, what’s the market ass price (I’m a little dubious about the term market ass myself).
There is an elevator.
But no doorman, please.. this place has only 8 units. You wouldn’t pay three salaries for that.
“what’s the market ass price”
Juliana said something on the other thread about being filled for $42, so for ass I am guessing an extra $20???
“I’m a little dubious about the term market ass myself”
If one cannot determine a “typical” ass fee on a psf basis for similar-ish buildings, how can one then determine whether an ass fee is high or low or about right?
“Juliana said something on the other thread about being filled for $42, so for ass I am guessing an extra $20???”
No wonder Naperville is so popular!!
“If one cannot determine a “typical” ass fee on a psf basis for similar-ish buildings, how can one then determine whether an ass fee is high or low or about right?”
Agree you need to determine a typical fee. My quibble is with “market”: ass fee is not, for the most part, set via price discovery in the marketplace, though certainly affects market price of the units themselves.
I can’t be the only one giggling about the discussion of the cost of ass in this thread.
I looked at this place. Common entry hall smelled musty and was told there was a pipe problem–repairs in progress. Unit itself seemed a bit down at the heels–e.g., older windows in dining room. Quickly decided this was not a building I wanted to invest in.