Prices Keep Rising in Bucktown: A 3-Bedroom for $850K at 1615 N. Wolcott
This 3-bedroom in the Urban Sandbox at 1615 N. Wolcott in Bucktown recently came on the market.
We’ve chattered about this 8-unit modern building constructed in 2007 before but it was in relation to one of the penthouses which was listed over the summer for $1.5 million.
See that June 2015 chatter here.
This southeast facing unit is not a penthouse.
But it has luxury finishes such as Arclinea cabinets in the kitchen with Subzero and Miele appliances and quartz counter tops.
The master suite has dual vanities and an oversized shower.
While this unit is listed as a 3-bedroom, the listing says the “owner did not build out 3rd bedroom.”
You can see where the third bedroom was supposed to be (looks like it would eat into the living room space) on the floor plan in the listing.
It has central air, washer/dryer in the unit and heated garage parking is included.
The unit is listed for $216,000 more than the 2009 sales price at $850,000.
How high will Bucktown prices go?
Debra Dobbs at @Properties has the listing. See the pictures here.
Unit #301: 3 bedrooms, 2 baths, no square footage listed
- Sold in September 2009 for $634,000
- Currently listed for $850,000
- Assessments of $299 a month (includes water, parking, exterior maintenance, scavenger, snow removal)
- Taxes of $8678
- Central Air
- Washer/Dryer in the unit
- Heated garage parking included
- Bedroom #1: 12×15
- Bedroom #2: 10×11
- Bedroom #3: 9×11 (but it’s not built out- there are no walls)
- Walk-in closet: 8×8
Q: When is a 2-bedroom really a 3-bedroom?
A: When you have a third bedroom.
This market is super hot. It will sell before Thanksgiving. Buyers are tripping over themselves to buy property.
.
I have seen this quite a bit in Chicago… go look at a 3 bedroom, its actually a 2 bedroom with “plans” to add a wall for the third (at no cost, lol), waste of time IMO because you can’t get a feel for the unit without that wall really
Hmm.. The sellers are disingenuous about the number of bedrooms the property contains. What else are they willing to lie about?
“What else are they willing to lie about?”
I’d assume that it is the asking price. They *really* only want $650k.
As Mario would always say, it’s just a number, so it doesn’t matter.
Lol. The “urban sandbox”. What a totally gay name. OT, but did you see that Patrick Sharp leased his SoPo house for $10,500 per month? Who would pay that much to live near there? Incredible.
“no square footage listed”
Based on the floorplan, I’d call it 1450 sf, not including the terrace. Think that calling it 1500 would be defensible puffy.
I wouldn’t pay 600K for this place, not my thing, small and yes, the bedroom count is total BS.
I don’t get it, why are people paying so much? It seems like people are paying for higher prices in Wicker park and bucktown than east lincoln park. IMO, lincoln park has all the retail, restaurant and running trails, oh, and it has a lake front and giant park. Enlighten me please.
Am I the only one noticing there seem to be no doors from the master bedroom to the master bathroom?
“Am I the only one noticing there seem to be no doors from the master bedroom to the master bathroom?”
not anymore… thats pretty crazy usually on those open bathroom designs they at least have the pooper sectioned off privately by some sliding or pocket doors or something… thats brutal
The “urban sandbox” name has to be worth something. It’s the ultimate vanity address.
“I live at One Mag Mile”.
“So what, I live in the Urban Sandbox!”
“This market is super hot. It will sell before Thanksgiving. Buyers are tripping over themselves to buy property.” –> the most ill informed comment I’ve ever read on CC (and it has some good competition). Open houses have been dead empty the last 2 months. Newly contingent listings have dropped off a cliff in Chicago.
“Open houses have been dead empty the last 2 months. Newly contingent listings have dropped off a cliff in Chicago.”
Make that the 2nd most ill informed comment…
Open houses have been dead? So, properties that had already generated little to no interest (pre open house/put out some fresh baked cookies/desperation) have continued to generate little to no interest?
Anecdotal, yes. But I’m in the market and have been to 20+ open houses since the spring. In June/July the open houses were packed. It wasn’t unusual to see 5 or 6 other families touring at the same time. For the past two months, we have run into a grand total of 1 other person at an open house (we’ve probably been to 7 or 8). We’ve asked listing agents for these properties and they have confirmed what we are seeing. More than one has joked that they are happy we showed up since they were getting lonely waiting for people to arrive.
You can say what you want on this board, but I’ve been out there looking at places almost every weekend. Maybe it’s just in my price range ($1MM – $1.4MM) but the fact remains, there has been a drastic decrease in activity and apparent buyer interest beyond anything that can be explained away by seasonality. Our agent agrees and is advising us in our purchase accordingly.
Anecdotal is one thing. Hyperbole is another. Dead empty? Off a cliff?
nimesh is a bear around here. his comment was sarcasm.
Because everybody (except for a few die-hard Sout’Siders) was too busy watching the Cubs to be bothered with going anywhere else on a Sunday afternoon.
And it’s going to stay that way until “we” win the Series.
Sharp had lots of girlfriends here in Chicago. Perhaps he wanted to keep that house so that he can come back and be closer to his “extended family” after retirement.
Home looks great without that third bedroom.I think that living room would feel a bit cramped with the added walks.
Erock on October 16th, 2015 at 12:59 pm
I don’t get it, why are people paying so much? It seems like people are paying for higher prices in Wicker park and bucktown than east lincoln park. IMO, lincoln park has all the retail, restaurant and running trails, oh, and it has a lake front and giant park. Enlighten me please.
Because people are lemmings that is why. Here is a perfect example: in the neighborhood where I work, by Hamlin and Schubert (2700 N. Hamlin to 2600 N. Hamlin) some developer just built a huge set of single family homes. Here is a link: http://karenranquist.koenigrubloff.com/homes-for-sale/2659-N-Hamlin-Avenue-Chicago-IL-60647-141315186
A lemming bought a single family home in that neighborhood for half a million dollars. For that amount you could have bought a better home in a nicer neighborhood. This neighborhood has a lot of gangs.
Now one can find such price and location discrepancy all over the north side. Yet buyers do this all the time. Someone will pay 350K for a house in Diversey and Central area when they can buy a similar house in Portage Park or even Norwood Park.
“So, properties that had already generated little to no interest (pre open house/put out some fresh baked cookies/desperation) have continued to generate little to no interest?”
anonny: You haven’t been looking in the Chicago market the last year. Many agents are using the “open house” as the only way to show the property. They will list it on a Thursday or Friday and tell everyone: “if you want to see it, come to the open house on Saturday and Sunday.” Often, they will have offers by late Sunday night. That’s how they get everyone into the property without having to schedule all the showings.
Occasionally, you will see something not sell for, gulp, a month, and then they will try the open house to drum up interest.
But the agents know how to use open houses as a marketing tool in a hot market and they are doing so.
I noticed #203 is now available for one million. Not seeing it myself.