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On the Market for Years: 1334 W. Wellington in Lakeview

We return to Wellington in Lakeview to chatter about this new construction single family home at 1334 W. Wellington.

1334-w-wellington.jpg

It has been on the market off-and-on since 2006 with little price reduction.

How many years can developers hold on?

Here’s the listing:

BEAUTIFUL NEW CONSTRUCTION IN HEART OF LKVW! WALK TO STHPRT CORRIDOR, EL & FABULOUS PARK. THIS 5BR HOME HAS GREAT LAYOUT, PERFECT FOR TODAY’S LIVING W/INTRICATE ARCHITECTURAL DETAIL. LRG GRMT KIT W/VIKING RANGE/GRIDDLE & SUBZERO REFRIG.

GREAT RM OPENS TO KIT & TO WIDE STRCSE LEADING TO BIG YARD & LWR LVL W/2BR + HUGE FAM RM. GRACIOUS MSTR STE HAS 2 LRG CLSTS & SENSATIONAL BTH W/SEP TUB, SHWR W/SPRAYS, RAIN & MORE.

Emily Sachs Wong at Koenig & Strey has the listing. See more pictures and a virtual tour here.

1334-w-wellington-livingroom.jpg

 1334-w-wellington-kitchen.jpg

1334 W. Wellington: 5 bedrooms, 3.5 baths, 4200 square feet, 2 car garage

  • New construction in 2006
  • First listed in April 2006 for $1,599,000
  • Then listed in May 2007 for $1,619,900
  • Reduced
  • Listed in January 2008 for $1,549,900
  • Re-listed again in August 2008 for $1,550,000
  • Taxes of $9,440

This entry was posted on Thursday, October 16th, 2008 at 5:10 am and is filed under Lakeview. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

20 Responses to “On the Market for Years: 1334 W. Wellington in Lakeview”

  1. Wht is wth abbrvtions? Do ths gys py by lttr?

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  2. U R 2 fny kwy!

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  3. Even with abbreviations they spelled “granite” as “gramite”. Beautiful place though.

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  4. Maybe the Realtor submitted the listing via text message.

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  5. This will continue to sit on the market until they drop the price to $600,000.

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  6. Don’t think Emily Sachs Wong would text a listing. She is way too posh a gal for that 🙂

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  7. I DNT WNT 2 BY UR OVRPRCD CNDO

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  8. err CNDO shold’ve read ‘HSE’

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  9. The builder has a mortgage ($2.2mm) on this and the neighboring property to the east (1332). It has it’s own website 1332wwellington dotcom (there’s music) and is listed at $1,549,900. The finishes look pretty similar, but the flooplans (at least on the mainfloor) are somewhat different.

    One weird thing about both of them–the refrigerator isn’t in the kitchen picture (no, it isn’t a cabinet front–none of the cabinets is wide enough). If you look at the floorplan for 1332, it looks like it might be across the hall next to the powder room, which seems (1) weird and (2) inconvenient. It’s like they forgot that modern kitchens include a refrigerator; at least they didn’t stick it right next to the double oven.

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  10. the reason for the abbreviation is that the multiple listing service restricts the amount of verbage that is allowed in a description

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  11. These developers are true idiots. Are they waiting for their own personal bailout? They need to cut the price by 250K just to get the ball rolling.

    Question: if it was so easy for realtors to pressure buyers to overpay in a fast rising market… why is it so hard for realtors to push sellers to cut prices in a fast dropping market? I mean the realtor wants a sale right?

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  12. “They need to cut the price by 250K”

    But their current (combined) ask of $3.1mm, less 6% for the realtors($186k), less $2.2mm (mortgage), less 2 years interest (at 6% (prob low)=$372k) leaves a max of $342k in profit/equity return (assuming some equity requirement from the lender)–if they cut the prices by $500k (combined), they’re losing (a lot) of money.

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  13. the fridge is in the cabinet on the right. it faces the ovens. unless of course the cabinet just randomly has a shiny metal strip running the length of it for no reason at all.

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  14. “the fridge is in the cabinet on the right.”

    If so, that’s (1) a terrible picture of the kitchen and (2) a very cramped and awkward corner.

    Now, where’s the fridge in the sister–1332?

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  15. anon:

    Are you sure that’s not a shadow? Or might it be a ghost? Afterall it is coming up on Halloween.

    If I had to guess, for the 1MK Grand Prize and new BMW, I would have to say (sound drum roll please) the refrigerator is on the deck that is off the bedroom through which one has to pass in order to cook the steaks and drink the wine. Think “Col. Mustard with the rope in the library.” 🙂

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  16. Margo:

    I’m not arguing with myself–the anon suggesting the (very bad imo) placement of the fridge is (one of) the other “anon”. The rest of the anon posts on this–and all of the anon posts on the Grace condo–are me.

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  17. Thanks for clearing it up because I began to think I was cracking up! The “noive.” The unmitigated gall. 🙂 anon1 and anon2 is way too boring but you really should come up with another user name. I mean your reputation is at stake!

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  18. The problem is, that if you change your name, there is a moderator delay. I don’t come to the intertubes for delayed gratification.

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  19. So, let me guess…you 2 are heretofor IDed by anon(tfo) and anon1? LOL so much so my sides ache.

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  20. I have no idea if the other anon(s) has/ve any intent of changing, but I got tired of it.

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