Selling in Less Than a Year: 3816 N. Fremont in Lakeview
We’ve chattered about several one bedroom condos where the owners were trying to sell in only a year. But what about a bigger, more expensive unit?
3816 N. Fremont was a conversion of an older graystone in Lakeview in 2007. This 3-bedroom duplex sold in June 2007 and came back on the market in February 2008.
The property has had several price reductions since.
Unit #1: 3 bedrooms, 3 baths
- Sold in June 2007 for $717,500
- Originally listed in February 2008 for $775,000
- Reduced several times
- Currently listed for $738,900 (parking included)
- Assessments of $154 a month
- No taxes yet (new construction)
- Coldwell Banker has the listing
It’s so beautiful that I wonder why anyone would want to leave it once she was in it, but it’s NOT worth $58k more than it was in 2007.
Maybe somebody is just a little stressed economically ($717K is a lot of money, after all), and figures that if the place can bring a quick profit, she’ll sell.
Yeah, but at $739, that’s not real money–it’s not quite enough to pay a buyer’s agent 3%.
looks like they added an extra floor on the top of the building. it sort of stands out
“an extra floor”
Looks like TWO extra floors. You can see it clearly on the left side bay–two floors worth of yellow(!!??!) brick on top of the original red common brick side.
“Looks like TWO extra floors”
Yea, not such a great thing for a classic greystone.
ugly and insensitive
This could have been worse if the added floors were not set back.
“Looks like TWO extra floors”
haha, you’re right. now I know why the yellow side bay confused me. the whole thing is like a tumor
I think the Building is lovely- you rarely see a builder preserve Greystone- it is an expensive task.
The design of the added two floors, straight and flat give it a castle type appearance. Better than the multiple rows of brick 4 and 6 flats popping up around the area. Looks institutional.
I thought the purpose of the chat was to focus on owners selling the units with in 1 year or less of purchase.
I think it is buyer’s remorse. Given the current Real Estate Market combined with many developers holding the bag and foreclosures, $719K gets you a lot more in 2008. Trick is, it is a one sided transaction-you need to be solely a BUYER in this market.
Ciao
I live next door to this place. It also hase a nice size patio on top of a 1 car carage, though the patio looks a little tacky with all the vinly siding. I have seen a few showings over the past 2 months. I am not sure who owns it but 3 different men can be seen watering the flowers on the patio. Maybe they bought it together and want out?
Wonder if they want to unload the furniture 😉
Its been through several price reductions…
And yet, despite all the headlines about the housing market, despite that financing is much more difficult to get today vs early 2007, the seller still believes they are entitled to a gain on the sale.
Do they really think a buyer is right around the corner willing to pay 740k for one floor of this 3-flat? Just because they were dumb enough to pay 720k doesn’t make it a good move.
Bob it looks like a duplex down to me.
The For Sale sign has been gone for about 3 months now. Looks like another buyer willing to sit on the sidelines.
Nope. It’s still listed. Priced at $729,000 now.
Weird I didnt see it on Yahoo Real Estate.
This building actually looks much better in person than the picture. while i agree the upper floor addition is not as perfect as maybe it could have been architecturally, i thought this was much preferable to tearing the unit down and building a new four story building on the site. I went thru these when new with a client. the construction and finishes were very good – much better workmanship than normal. Overall i think this building is a very successful conversion