Still Looking for Outdoor Space? A 2-Bedroom Lakeview Loft: 2804 N. Lakewood
This 2-bedroom loft at 2804 N. Lakewood in Lakeview came on the market in July 2020.
Built in 1945, this building has 20 lofts and garage parking.
This loft has authentic loft features including 13 foot timber ceilings and exposed brick walls.
It has a wood burning fireplace.
The kitchen has gray cabinets with white cabinets on the island which has a concrete counter tops, and stainless steel appliances.
The listing says the cabinets were new in 2016.
The primary bedroom has a window and an en suite bathroom with a custom vanity made from reclaimed barn wood. It also has a walk-in-closet.
The second bedroom doesn’t appear to have a window.
The listing says the loft has RH lighting.
The building has a shared rooftop deck, but why use that when this loft has its own yard with a private gate and new fencing. It has its own private entrance.
The listing says the outdoor garden was designed by Urban Rooftops. It has a brick patio.
This loft has the features buyers look for including central air, a new Bosch washer/dryer in the unit and gated garage parking with access to the back gate of the yard.
Originally listed at $659,000, it has been reduced $30,000 to $629,000.
With the private attached yard, is this a townhouse alternative?
Kristi Gunther at Re/Max 10 Lincoln Park has the listing. See the pictures here.
Unit #108: 2 bedrooms, 2 baths, 1650 square feet
- Sold in May 2002 for $375,000
- Sold in May 2014 for $450,000
- Sold in October 2016 for $610,000
- Originally listed in July 2020 for $659,000
- Reduced
- Currently listed at $629,000
- Assessments of $318 a month (includes exterior maintenance, scavenger, snow removal)
- Taxes of $10,245
- Central Air
- Washer/dryer in the unit
- Garage parking included
- Wood burning fireplace
- Bedroom #1: 19×12
- Bedroom #2: 16×13
- Living room: 26×17
- Dining room: 14×12
- Kitchen: 12×12
- Foyer: 7×10
- Terrace/yard
Whomever staged this did an excellent job and a nice subtitle jab at Illinois financial situation
LOL at someone humble bragging about the landscape design.
Must suck to lose money after 4 years of ownership
“Must suck to lose money after 4 years of ownership”.
Well, they won’t be alone. I’ve noticed that prices on condos, especially, all over the north lake front have dropped, sometimes steeply, on buildings and neighborhoods that I follow. I wouldn’t want to have to sell my own place in West Ridge right now.
We’ve only seen the beginning of the economic damage this pandemic has wrought across the country, and our economy was already hanging over a huge debt cliff before it began, since stock and other asset prices had been supported almost wholly in the past decade by interest rate repression, and floating ever more debt both public and private. Now we are adding trillion of $$ more while tax revenues are falling through the floor and hundreds of thousands of mortgages are in forbearance.
Right now, the suburbs are looking good because the pandemic has made dense city life suddenly very undesirable, but I don’t expect the rush to last. Wait till all those mortgages come out of forbearance, and our public debt finally hits the point where it can no longer be serviced from tax revenues. I foresee a decade of cascading economic damage that will be very painful for almost everyone. Everyone will take losses, sometimes steep ones.
I’d imagine several lookers of this place immediately said no after seeing the column in the kitchen and the other in the bedroom. Seems like such a poor design.
#105 at 499K can’t be helping their cause. Also post free kitchen.No private outdoor space tho.
“Must suck to lose money after 4 years of ownership”
I left Chicago 6 years ago but still read this site for fun. Above comment made me laugh. Purchased my Southport condo in March 2006 at the height of the craziness and sold it March 2015 taking a big hit. It has switched owners a few times and back on the market again….and STILL not what I paid in 2006!
“#105 at 499K can’t be helping their cause.”
105 claims 1600 sf, but is under 1400 (imo, under 1200), both bedrooms are borrowed light, and the “dining room” doubles as the entrance hall. And all windows on one side.
This one might not be fully 1650, but it looks to be well over 1500, and has literally 4x the windows, on two sides.
But yes, breaking a toe in the kitchen twice a year would be bad.
Not a bad looking place for a loft. Still, no way I pay any amount to live steps off of Diversey in a place where half the rooms don’t have walls that reach the ceiling.
other than cutting up angry bob’s Styrofoam coolers and duct tape, What is out there from an architectural design to put at the base of a column that isn’t stone that break toes?
It’s Chicago green zone real estate, where money grows on trees, $209,000 was created out of thin air in six years time, ten grand in property taxes aren’t a big deal and worrying about things such as the heating or A/C bill in a loft like this is for mere mortals.
Baby boomers are really clawing at some sort of retirement fund somehow after decades of not saving, but are there enough suckers for all of them?
“It’s Chicago green zone real estate, where money grows on trees, $209,000 was created out of thin air in six years time, ten grand in property taxes aren’t a big deal and worrying about things such as the heating or A/C bill in a loft like this is for mere mortals.”
Um…yeah. Mortgage rates are at record lows. What do you think has been propelling the housing gains over the last 20 years?
Also, just more whining from Bob because he can’t understand how Millennials can afford to buy these types of properties.
Lots of great paying jobs in Chicago now. It has one of the highest educated workforces of any major city.
“Baby boomers are really clawing at some sort of retirement fund somehow after decades of not saving, but are there enough suckers for all of them?”
Really?
On what planet?
Boomers control most of the wealth now- whether it is in housing or stocks. And given their age is 55-56 to 74, I’d like to think many of them have paid off their home mortgages by now (but perhaps that’s wishful thinking.)
And Millennials AND GenZ are both bigger generations than the Boomers. The problem is none of them wanted to live in the far out suburbs, where the Boomers bought their big McMansions. Until the pandemic hit. The pandemic might have saved those homeowners. Lol.
Some of the hottest suburbs this year were the Barringtons, Lake Forest, Batavia. All had been struggling for years.
“Not a bad looking place for a loft. Still, no way I pay any amount to live steps off of Diversey in a place where half the rooms don’t have walls that reach the ceiling.”
What does steps off Diversey have to do with it Dan #2? You don’t like Diversey?
Or you feel like it can’t support this price point?
There are million dollar condos nearly across the street from this building and also just a half a block away on the 6-corner intersection.
“Um…yeah. Mortgage rates are at record lows. What do you think has been propelling the housing gains over the last 20 years?”
Median sale price is up 16.8% year/year. Do you think that kind of increase is representative of a healthy, sustainable market?
Thank you for helping me with my case on rates. What started in the early 1980s is going to end soon as rates cannot go much lower. Let people flex it up and continue to bid high with every eighth point drop. Best part is higher valuations replacing interest service isn’t tax deductible as interest service is.
Musical chairs ends when rates can no longer go lower & this owner wants someone else holding that bag. Let the “mere mortals” worry about the heating and A/C bill & ten large in taxes every year or the SALT cap.
“ Um…yeah. Mortgage rates are at record lows. What do you think has been propelling the housing gains over the last 20 years”
Wait so it’s not due to the skyrocketing demand due to everyone wanting to live in Chicago?
“ And Millennials AND GenZ are both bigger generations than the Boomers. The problem is none of them wanted to live in the far out suburbs, where the Boomers bought their big McMansions. Until the pandemic hit. The pandemic might have saved those homeowners. Lol.
Some of the hottest suburbs this year were the Barringtons, Lake Forest, Batavia. All had been struggling for years.”
Demographics have changed from a Boomers to Millennials. Delaying having kids has pushed the demand curve for those properties out.
Boomers are also working later in life (you can argue if it’s a want/need), this is jamming up the promotional ladder in many industries and not providing the younger cohorts with the means to purchase the $1MM Homes. Tied into that, there are a fair amount of boomers that are very housing leveraged/home is a substantial portion of their retirement plan and they don’t want to/can’t sell at current market pricing (granted it’s getting better for these properties)
“You don’t like Diversey?”
I lived about a half block north of Diversey for a year (and a couple blocks south for more than two). I realize that it’s stately boulevard lined with trees, gorgeous architecture, lovely shops and great restaurants, but I’m still not sure I’d by hyping proximity to it.
“I realize that it’s stately boulevard lined with trees, gorgeous architecture, lovely shops and great restaurants, but I’m still not sure I’d by hyping proximity to it.”
What are the lovely shops within a full block of this place?
BP Shop? Jenny Craig? Vape City Chicago (oh, closed)?
Couple of dentists, right?
“Um…yeah. Mortgage rates are at record lows. What do you think has been propelling the housing gains over the last 20 years?”
remember your dumbass take that mortgage rates were going to continue to up? I do… lol
Actually, in looking at Google Street View, that stretch of Diversey looks pretty nice (I lived east of Clark).
“Actually, in looking at Google Street View, that stretch of Diversey looks pretty nice (I lived east of Clark).”
It was taken in July during a time period with no traffic so likely a weekend day around 9am. It’s the most flattering time and season for it.
Try a grey December around rush hour where cars are usually parked illegally between 4-6pm so there’s always a traffic jam and the city doesn’t tow those cars they just ticket them. And there’s always a new supply of fools parked illegally to get ticketed.
I live not far off Diversey a bit west of here and there would be days I’d choose to walk the over mile trek home from the Brown line rather than wait for the bus and be stuck in bumper to bumper traffic and most of the time I’d beat the bus.
THIS old loft owner’s problem is this loft is quite dated for what they want vs what you can get oh I don’t know right across the street for around the same price? Nobody wants an old ass loft that looks like it was converted in the 80s when you can have new right across the street.
And let’s be honest if you’re really going to live right off Diversey there are safer options like gated communities a little west so you don’t get car-jacked coming out of your garage. Yes the further west you go its safer and it’s not Belmont or Fullerton with red line stop so safer but it’s comparatively more safe west of Ashland. But only “mere mortals” get car-jacked right urbanite loft lovers?
“Nobody wants an old ass loft that looks like it was converted in the 80s when you can have new right across the street.”
What new lofts are right across the street? I don’t know of any.
There are newer CONDOS across the street build in the last 15 years. But not lofts.
“remember your dumbass take that mortgage rates were going to continue to up? I do… lol”
They will go the other way when the bond bubble busts.
But even going back to 4% for 30-year mortgages is going to significantly slow the national housing market. We saw this a few years ago when rates rose about 1%. Sales fell off a cliff.
“Delaying having kids has pushed the demand curve for those properties out.”
Yes. This is WHY the market is so hot right now. Millennials are buying right on schedule, actually. Their own schedule.
They are marrying later and forming families later. The largest group of Millennials is now 28-32 and, wouldn’t you know it, there’s a buying frenzy. They are marrying in that age range.
Lol.
This should last 3 to 4 years as this big chunk of the Millennials buys.
Plenty of Millennials make enough money to buy homes. Just ask Riz.
10,000 Baby Boomers are retiring every day.
“What started in the early 1980s is going to end soon as rates cannot go much lower.”
Depends on what happens with incomes. You’re going to need income games to keep the game of musical chairs going.
Chicago is in a good place though. We don’t have the affordability problem like the coasts. They are going to be hurting, badly, when the music stops and those home prices are no longer rising like they have over the last 30 years.
Nothing against Diversey specifically. I just don’t love the idea of buses and trucks going by so close to my home. Would prefer being a couple homes in from a main street. I grew up two houses off of Lake Shore Drive and the buses do get annoying.
I live nearby and really like lofts (don’t live in one), so I guess I’m prejudiced here, but these comments are pretty wild. I think this place is really cool. I too would prefer to not be so right on Diversey, but this place looks like it faces away from Diversey anyways. Price seems kinda high for the COVID times, but I’m not hating.