Southport Townhouse Still Seeks Buyer 11 Months Later: 3401 N. Janssen
We’ve chattered about this 2-bedroom townhouse at 3401 N. Janssen in the Southport neighborhood of Lakeview several times over the last 11 months.
See our October 2009 chatter and pictures here.
It is still available and has now been reduced to below the 2007 purchase price.
The listing says it is now priced below a recent appraisal.
The two bedroom townhouse has Brazilian cherry floors, a family room and a roof top deck.
It also has its own garage.
Has this townhouse now become an attractive alternative for condo buyers?
Sandy Black at Re/Max Signature North still has the listing. See more pictures and a virtual tour here.
Unit #A: 2 bedrooms, 2 baths, family room on lower level, loft on 4th floor, 1.5 attached garage
- Sold in July 2006 for $450,000
- Sold in February 2007 for $405,000
- Originally listed in March 2009 for $489,900
- Reduced
- Was listed in May 2009 for $479,899
- Reduced several times
- Was listed in October 2009 for $425,000
- Reduced
- Currently listed at $399,900
- Assessments of $85 a month
- Taxes of $5751
- Bedroom #1: 14×10
- Bedroom #2: 15×11
- Family room: 15×11
- Loft: 11×11
- Central Air
let me repost my previous babble disregard the comment about price;
this place is japan tight. i would need knee pads on 24/7 cause every time your turn around or change direction i would bump my knee on something.
seriously did you see in the 2nd master bedroom pic on the VT that they had to stand on something just to take it at a differnt angle.
and we repeatedly go over this every day,
at what point does a seller think they can sell over the 2003 price without major reno, uniqueness, or awesome local?
425k for 2.5 floor sardine can in SoPo (thanks jill) you need to be pimp slapped by Kermit the frog
and like that he’s gone
Still….. townhouse in extremely desirable neighborhood. And it’s a good-looking place.
It should move at this price.
The place doesn’t look tight from the pictures. And why is it marketed as a 2 bed when the 11×11 den is bigger than some condo second bedrooms?
I bet the red line tracks behind the building a turn off for most buyers.
I think this place you have to see for yourself in person how tight it really is
It’s not cavernous by any means, but the dimensions don’t seem to lie based upon looking at the virtual tour. The only gripe I might have is that the living room is indeed pretty small. Maybe it’s laid out really weird.
This is definitely my kind of place in that it’s a cheap townhouse in a good location with low assessments. However, I’d have to see how loud the train is when the windows are open or you’re out on the deck. I think most people don’t realize how much it sucks to not be able to sleep with your windows open or watch tv with the windows open when the weather is nice. One big downer in my book is that wall facing the street that blocks most of the sunlight for the living space. I guess someone thought that was a good idea for privacy or it was some kind of architectural “innovation”, but it’s awful.
Oh, one more thing. I’d have to take a 25% loss to sell my condo right now because I overpaid in 2006, and I expect anyone I’m buying from to at LEAST give me a 10% discount from a 2006 sale price. Someone let me know when they’re asking 360K and then I MIGHT consider moving.
If sellers want to sell right now, this is the reality they have to accept. Potential buyers have to find a deal so amazing, it makes it worth the loss they’ll have to take on their current places.
if there is one rule of real estate in chicago, it would be never, never ever buy near the EL.
“if there is one rule of real estate in chicago, it would be never, never ever buy near the EL.”
Exceptions to every rule: you’re a RE developer and have an inside connect to get the L near your property torn down as happened in Woodlawn. Dude made a boatload when the University stop was removed.
I will say the El is annoying to live right on, thankfully I do not live right on it, just near it, but with that annoyance comes conveinence too.
“Exceptions to every rule: you’re a RE developer and have an inside connect to get the L near your property torn down as happened in Woodlawn. Dude made a boatload when the University stop was remove”
is this likely to ever happen again anywhere else?
/wild speculation
At this current price, the train is the single objection. I’ve had several people say several times “I really like it but”, when it comes to units along the train…but there is no “but” when it comes to living backed up to the train and the price discount.
Specifically, I’ve had buyers look at this property (and every Lakeview townhome up to $450K) and they liked this a lot but… but they are trying to find this place and price a block away (sigh).
The discount I see in Lakeview for a unit that backs up/adjacent to trains at about 25% or so from homes that are a block away. This is not scientific, just based on comparable sales prices on deals I’ve been involved with.
I have been in the unit just to the East of this unit, the master bedroom (same floorplan) backs up the the EL and it is very loud, so much so that it shakes the wall. Great location just across the street from Justin’s but the EL noise with windows closed is audible. In the kitchen with windows open it is very, very, loud so much so that you have to say “hold on” ok….go on.
Bob… do you have any more info (or links) on the demolition of the last mile of the Green line (Jackson Park) into Woodlawn? I know that the U of C had a big say in that. I believe they secured (bribed?) a number of Black Clergymen to come out in favor of the demolition.
I would NEVER live immediately adjacent to an EL line.
Not much more unfortunately. Basically the story I remember reading in the HP Herald matches your recollection.
“I’d have to take a 25% loss to sell my condo right now because I overpaid in 2006, and I expect anyone I’m buying from to at LEAST give me a 10% discount from a 2006 sale price.”
Nevermind that, just follow the trend line from the last two sales–$450k in 7-06; $405k in 2-07; keep dropping it 10% every 7 months–>$239k in 1-10. That’s be an easy sale.