Sizzle! 3-Bedroom Duplex Price Jumps $375,000 in Under 3 Years in River North: 600 N. Kingsbury
This 3-bedroom duplex up penthouse/townhouse at 600 N. Kingsbury in River North just came on the market.
It’s in the lower part of the building that is along the River and the park.
If this unit looks familiar it’s because we chattered about it in 2013.
See that chatter here (where HD wonders why this unit sells every 3 or 4 years…)
The living/dining and kitchen along with one bedroom are on the first floor with two other bedrooms on the second floor.
It has 2-story windows with views of the River.
The kitchen has white cabinets, granite counter tops and stainless steel appliances.
The unit has central air, washer/dryer in the unit and it has a parking spot on the same level as the unit in the garage so there is no reason to use an elevator.
The listing says “aprox $150K in complete gut remodeling” but if you look at the pictures from the 2013 sale, the kitchen, baths and floors look the same.
In fact, it looks like some of the pictures in the current listing are actually pictures from the 2013 listing (as there was furniture in 2013.)
You can still see the 2013 listing pictures here.
At $935,000 including the parking, this unit is listed for $375,000 more than the 2013 sales price of $560,000.
The market is sizzling hot, but is it that hot?
Stella Tahrilova at Jameson Sotheby’s has the listing. See the current pictures here.
Unit #509: 3 bedrooms, 2.5 baths, 2100 square feet, duplex up
- Sold in October 2002 for $666,000 (included one parking space)
- Sold in October 2006 for $647,500 (included 2 parking spaces)
- Sold in September 2010 for $525,000 (included 2 parking spaces)
- Sold in October 2013 for $560,000 (included 2 parking spaces)
- Currently listed for $895,000 (plus $40,000 for 1 parking space)
- Assessments of $996 a month (includes heat, a/c, doorman, cable, Internet, exercise room, outdoor pool, exterior maintenance, lawn care, scavenger and snow removal)
- Taxes of $9689
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 11×10 (main floor)
- Bedroom #2: 13×11 (second floor)
- Bedroom #3: 13×10 (second floor)
This isn’t 2100 sq ft and this sure isn’t worth nearly 900K IMO. Not much of a view for this building either. I do like the bar area though.
Definitely no upgrades since the last sale…
I would add a shower to the lower level 1/2 bath next to the bedroom… could be easily done…
I dunno about this one, will be interesting to see what it eventually gets at closing
Sizzle before the burn…
I have a close friend that has a 2/2 in this building. I like the lobby and the fact that there’s a coffee place in the building. The dog park next door is pretty cool and the river is right there.
On the down side, it’s a bit west as far as river north goes..and 900 is so so steep. Previous sale price is closer to reality. The fact that places like THIS are asking almost a million dollars, in non-prime river north , is a sign that something is funky about the market. Maybe i’m wrong though.
The finishes are too cheap for a $900k condo. Assessments+taxes alone are approx $1,800/mo + $100/mo insurance + water = almost $2k a month in fixed costs for this place (without accounting for mortgage)
A 2 bed/2 bath rental would be about $2k-$2.5k in this area. Not a good value in my opinion.
Were those wood floors made out of scraps left over from other floors? If so, I guess that makes them “green”. However, they’re fug.
Also, almost a mil for a living/dining combo that is smaller than the one in my crappy college apartment? No Thanks.
Assessed Value went up almost 20%; should expect a tax bill over $10k this year.
Also:
“aprox $150K in complete gut remodeling”
And they didn’t bother to replace the dirty, worn carpet???
For $900k, I want to be on a higher floor, with a view of the river, and have better flooring in the kitchen. Also, why are some of the windows so small? I would also expect higher end appliances and ceiling fans above Home Depot grade. I don’t expect to see a shower curtain in the master bath nor a completely dinky bathtub in the guest bath. I also expect the powder room to look lovely and have a white toilet.
The price may seem outlandish but we are in a another bubble. Reason is out the window when the animal spirits of speculation have taken over.
Buy now or be priced out forever!!!
“A 2 bed/2 bath rental would be about $2k-$2.5k in this area.”
probably not. and if so, maybe a tiny outdated place.
just quickly looking, kingsbury plaza (520 n kingsbury) a 2/2 starts at $3600. it’s new sister building across the street is even more expensive.
I want to see that chart again of cost of owning vs renting in Chicago
““A 2 bed/2 bath rental would be about $2k-$2.5k in this area.”
Maybe if you got 6-7 blocks north to park side and the mixed income apartments, but hell to the no if you’re south of Chicago ave. 2500 for a crappy “fake” 2 bed ( lofted behind kitchen style spare bedroom ) without parking is possible – 2k? Get real.
Not only are some of the listing photos recycled but it is the same listing agent, no?
Rents for 2 bed/2 bath @ 600 K looks like $2800-$3k w/parking. #1012 – ask is $2950/mo. furnished w/pkg; #707 – ask is $3250 w/pkg – on mkt 3.5 weeks; #509 (subject) ask is $5400 (for 3 bed/ 3 ba) plus $245 per pkg pl.
Fwiw assessor states unit #509’s only 1100 sq ft and doing rough calculations from posted plan IMO it’s much closer to 1100 sf than 2000 sf.
“Rents for 2 bed/2 bath @ 600 K looks like $2800-$3k w/parking. #1012 – ask is $2950/mo. furnished w/pkg; #707 – ask is $3250 w/pkg – on mkt 3.5 weeks; #509 (subject) ask is $5400 (for 3 bed/ 3 ba) plus $245 per pkg pl.”
I think the cheapest in the building is asking 2950 – that’s unit 1012. And I’m not convinced it’s a real 2/2, it’s only 950 square feet. And you have to take their god AWFUL furniture? no thanks.
http://www.zillow.com/homedetails/600-N-Kingsbury-St-APT-1012-Chicago-IL-60654/70467032_zpid/
At these prices i’ve got a steal for my place that’s 5 blocks east of here, its 1400 square feet and way nicer for 3200.
Where’s anon, isn’t he around this neighborhood and renting for cheap?
“Where’s anon, isn’t he around this neighborhood and renting for cheap?”
I’m living in one of those “empty” townhouses over by Sonies, dreaming that teh-Hof will come by and sweep me off my feet. Rent is definitely cheap.
“Rents for 2 bed/2 bath @ 600 K looks like…”
so the newish rental buildings within a block of here are getting, at a minimum, 25% more in rent? interesting.
“I’m living in one of those “empty” townhouses over by Sonies, dreaming that teh-Hof will come by and sweep me off my feet. Rent is definitely cheap.”
Where is that? my best friend just rented a town house around the parkside development for around 2500. Definitely great value if you’re willing to deal with the transitional elements of the neighborhood.
under contract – unbelievable
maybe it’s not an arms-length transaction, though
whoops! ixnay that. clicked on the 2013 link by accident.
My wife and I rent a real 2/2 near here with parking for $2550/mo. Is it as nice as the new stuff going up near by? Of course not, but its not exactly a dump and will be fine for us for a year or two.
The place next door was asking $3200 at the same time we were looking; a little bigger and a little nicer, but not enough for us to justify the extra money.
You can certainly find “reasonably priced” rentals in the area if you look.
Acquaintance has one of the multi-story units here. Blows this out of the water. This is a dump in comparison.
That Area is a construction site. Every lot is being built on. It’s noisy, dirty. That Ronsley is going up and they are going for 4 million. Get it now before Trump wins and a wall will be built around Chicago and only property owners and migrant workers can get in.
anyone staying in the 3rd bedroom on the lower level has to go upstairs to use a full bath…
“I’m living in one of those “empty” townhouses over by Sonies”
welcome to the hood anon! If you need a shopping cart, I got a guy
“If you need a shopping cart, I got a guy”
If he’s got a line on like new CostCo carts, I’m interested.
@Jack, not to mention you have to go through a bedroom to get to a balcony. No balcony off of the main living space. Not good for entertaining on a nice summer night.
marco posted “so the newish rental buildings within a block of here are getting, at a minimum, 25% more in rent? interesting.”
Welcome to real estate where newer, managed rental buildings will likely charge & collect higher rents than some more amateur landlords (who may trade max rent collectible for eazy peazy tenants).
Riz posted “I think the cheapest in the building is asking 2950 – that’s unit 1012. And I’m not convinced it’s a real 2/2, it’s only 950 square feet.” Imo if u subtract $250 for parking place their ask is $2700 furnished. LL is likely negotiable if tenant takes unit unfurnished.
Gonefishin posted “…That Ronsley is going up and they are going for 4 million…” Ronsley’s a redevelopment of existing Ronsley building so it’s been up. Iirc prices range(d) from $890K- $4+ mil.