The $914,000 4-Bedroom Duplex Down: 1529 W. Roscoe in Lakeview
This 4-bedroom duplex down at 1529 W. Roscoe in the Southport neighborhood of Lakeview came on the market in September 2018.
Sorry- no picture of this building. We discussed the old house in 2009 though, which was torn down.
This building was constructed in 2013. It’s 2 units with a heated garage.
This unit is the first floor and lower level.
It has luxury finishes including millwork, wainscoting, a boxed living room ceiling and built-ins.
There are two fireplaces, one in the living room and one in the family room.
The first floor has the living room, kitchen and family room.
The kitchen has white cabinets with a black island along with thick quartz counter tops, marble backsplash and luxury appliances including Wolf and Viking.
All four bedrooms are in the lower level including the master suite which has an en suite bathroom.
It has central air, washer/dryer in the unit and one indoor heated garage parking space.
The listing says there are two outdoor spaces including a garage rooftop deck, but the pictures only show a deck off the family room that looks out over the backyard and garage.
This duplex down is just 2008 square feet.
The listing says it’s in the Hamilton school district.
Listed at $914,000, it’s priced similar to some single family homes or townhouses in the neighborhood.
What’s the advantages of a duplex down versus the other two types of properties?
Nathan Ortiz at Redfin has the listing. See the pictures here.
Unit #1: 4 bedrooms, 2.5 baths, 2008 square feet
- Sold in February 2014 for $795,000
- Originally listed in September 2018 for $914,000
- Currently still listed at $914,000 (includes 1 car heated garage parking)
- Assessments of $141 a month (includes exterior maintenance)
- Taxes of $16,832
- Central Air
- Washer/dryer in the unit
- 2 fireplaces
- Bedroom #1: 12×14 (lower level)
- Bedroom #2: 10×11 (lower level)
- Bedroom #3: 10×11 (lower level)
- Bedroom #4: 10×11 (lower level)
I am not a huge fan of duplex downs, but the style lets you have a lot more living space less awkwardly arranged vs. a townhouse or SHF likely to sell for the same price.
And some like condos.
SFH’s tend to go for more, all else equal, because more people like SFHs and they usually have a lot of some sort. SHF with similar finishes in this area is a lot more, but also bigger, so hard to compare.
THs often have better outdoor space, like a roof deck. But THs in the area are often older, so again hard to compare.
This place benefits from being 2013, or close to new construction. Also all grey and white, Wolf/Viking, the kinds of things in new construction that weren’t being added to places like this in the area mid 2000s or before.
That said, has the price gone up $120K since 2014? I’m interested.
Agree with Stephanie that SFHs typically go for more. I wouldn’t personally consider a duplex down. I think the advantages are usually: 1) better layout. I’ve never seen a TH with four bedrooms on one level 2) wider units. Although this unit in particular looks pretty narrow. 3) often newer construction and newer finishes.
Disadvantages abound! Someone living above you, below grade living (this is the primary reason I would never consider a DD), lack of natural light, flooding and bug concerns, shared parking. No thanks.
Even getting past the duplex down part and the small bedrooms, there’s a lot left to be desired here. Price seems way off. Seems like the 2013 $560k sale was from the developer, and 1/14 $795k sale is a market resale? I think that these 2014 buyers way overpaid and now are trying to get someone else to way overpay even more. The list price would be a CAGR of more than 10% for 5 years. That is not consistent with the market and this is not a rare unit.
Honestly, I am not sure that this has many buyers very far into the 8s. Comps are 3640 Bosworth 1, 3417 Bosworth 1, 3422 Bosworth 1, 3342 Southport 1, etc., etc. I think that condos have a real price ceiling based on location, type and size and once you get into that range the appreciation is basically done. This one is there, I think.
this is one of the nicest duplex downs I have ever seen, however cmon man, that much in this location? get outta here
Financed a similar duplex down for $950k earlier this year in LP about 1.5 miles south of this place. All bedrooms on lower floor. However, it was brand new.
I think keeping the master on the main floor would be better. I just can’t stomach paying $900k to have a master bedroom in basement.
“Seems like the 2013 $560k sale was from the developer, and 1/14 $795k sale is a market resale?”
The $560k sale was for the teardown, purchased *by* the developer.
$795k first sale for the down, $890k first sale for the up.
2013 listing (sold before print) for the upper unit:
https://www.redfin.com/IL/Chicago/1529-W-Roscoe-St-60657/unit-2/home/113044036
“The $560k sale was for the teardown, purchased *by* the developer.”
Thanks, that’s a pretty good price for a slightly larger-than-standard lot in a location like that in 2013, I think.
“this is one of the nicest duplex downs I have ever seen”
Really? If I didn’t know that they live in different locations, I would not be able to distinguish this place from at least 2 units that I have actually been in. I have also seen duxplex downs with much bigger bedrooms – not sure that I have yet seen in Chicago a nice 4 bedroom with total sqft of the bedrooms at under 500 sqft.
This unit depresses me in so many ways, from how the main floor appears to be one long room to the tiny and high-up windows in the basement. I dislike duplexes down to begin with, but this is one of the least lovable ones I’ve seen, especially at the crazy $900,000 asking price (plus a $16,000 tax, which is more than I pay for my five-bedroom single family in Highland Park – which helps pay for Highland Park schools).