A Unique 2/2 Penthouse in East Lincoln Park: 736 W. Schubert
This 2-bedroom penthouse unit at 736 W. Schubert in East Lincoln Park has been on the market since April 2010.
It has been reduced $60,000 in that time and is now listed for $33,000 under the 2006 purchase price.
The unit is also listed for $6,000 under the 2002 purchase price.
At 1570 square feet, it has valuted ceilings in the living/dining room with exposed wood beams and skylights.
The kitchen has granite counter tops and stainless steel appliances.
The unit has marble baths.
It has two outdoor spaces: a front balcony and a back deck
Given that it’s listed under the 2002 purchase price, is this a deal?
Molly Johnson at Coldwell Banker has the listing. See the pictures here.
Unit #3: 2 bedrooms, 2 baths, 1570 square feet
- Sold in August 2002 for $505,000
- Sold in August 2006 for $532,000
- Originally listed in April 2010 for $559,000
- Reduced several times
- Currently listed for $499,000 (parking included)
- Assessments of $99 a month
- Taxes of $7852
- Central Air
- Washer/Dyer in the unit
- Bedroom #1: 15×14
- Bedroom #2: 12×11
Beautiful place. I just looks “right” compared to so many other places featured on crib chatter.
Wish I could afford it.
Very cool. It’s got the lamentably ubiquitous open kitchen/dining/living room, the immediate hood is not the greatest, and it’s Alcott, but had I seen this place before I purchased a couple months ago, I would have been extremely tempted to but it. Those ceilings and beams are gorgeous, it’s got good private outdoor space (and a shared yard), a garage, nobody overhead, and it’s in very nice/move-in condition. It doesn’t say how big the storage is, but if it can handle a jogging stroller and a bike, that cures most of the walk-up hassle. Someone should be very happy to close on this place at $475k.
Nothing unique about this place accept for the exposed joists.
Cookie cutter new construction crap
nothing more awesome than paying a half a mill for a 3rd florr walk up.
it is close to half shell.
Way overpriced for a cookie-cutter…those things won’t hold up in this market.
I heard half shell closed.
How in the world does this place constitute “cookie cutter”? Because of the cookie-cutter kitchen? Because that’s about the only so-called cookie-cutter thing about it.
And the only thing that one might consider non cookie cutter is the vaulted ceilings/skylight. Which is nice, but does not a $500k “East Lincoln Park” condo make.
Closer to the park, on the other side of broadway, maybe.
On the list of “realtor-speak” words/phrases that annoy me, “penthouse” being used for any top floor apartment ranks pretty high.
This seems like a nice (not spectacular, not craptacular) place in a decent (but not great) location. Not a deal, and probably overpriced.
hate this place! Those exposed joists remind me of the Wisconsin Dells for some reason… and helloooo the Pottery Barn called and they want their overpriced condo back!
Nothing gets the haters going like a LP listing, especially if it’s east of Halsted (albeit just barely)!
anonny – I’m assuming you bought in the Lincoln Elem area? I’ll be closing soon on a place in ELP/Lincoln Elem area – see you around the ‘hood!
Yeah, this place it totally cookie-cutter. I mean, seriously, it has bedrooms. And BATHROOMS too! Can you believe it in this day and age?
Seriously folks. Not everyone’s home can be a custom built architectural masterpiece. The masses can’t afford that kind of work. This place is nice, serves it’s function and has some interesting and somewhat unique features. Yes, the kitchen is a little blah, but that can be easily changed. You can’t change the location and you can’t easily change the structure or layout. And this place is pretty nice in both regards.
With all that said, a 2/2 is not worth $500k unless it has extras. This place doesn’t have the private roof deck it should have at this price point. It only has 1 parking spot, where it should have two at this price. Add in the horrible economy and it’s even worse. Nice location, but it’s missing some things and suffers from horrible timing. $375k gets it sold.
Its the type of place that a wack-job, fundamentalist right-wing, bible-thumping-zombie
would home school their children from.
“Nothing gets the haters going like a LP listing, especially if it’s east of Halsted (albeit just barely)!”
I dont think “we” hate ELP i know for me its a really nice place but the premium paid is ridiculous in MY eyes.
“With all that said, a 2/2 is not worth $500k unless it has extras. This place doesn’t have the private roof deck it should have at this price point. It only has 1 parking spot, where it should have two at this price. Add in the horrible economy and it’s even worse. Nice location, but it’s missing some things and suffers from horrible timing. $375k gets it sold.”
I think that’s what most people mean when they call LP/LV 2/2s “cookie-cutter”. It’s certainly what I think of–a nice place that doesn’t have much in the way of memorable features, finishes or amenities. A condo that, if you looked at 20 2/2s in a week, would be hard to distinguish from 15 of them–this one you’d remember the beams, but what else? Nothing, right?
chi_dad: Welcome!
I assume then all of you bashing this “cookie cutter” condo live in homes that you hired an architect to custom design and build, correct?
If I bash McDonald’s, does that mean I can only eat at 5 star restaurants?
I cannot understand why anyone would buy a 2/2 in the mid to high 400s. It just seems ridiculous to not get a den or family room in there. I guess I’m in the minority as they seem to be moving in LV and LP.
“I assume then all of you bashing this “cookie cutter” condo live in homes that you hired an architect to custom design and build, correct?”
No but I DO have an ice delivery chute, chew on that for a while
“If I bash McDonald’s, does that mean I can only eat at 5 star restaurants?”
Of course not….but if you do eat at McDonald’s, then why would you bash it?
“If I bash McDonald’s, does that mean I can only eat at 5 star restaurants?”
No. 1 star and up is fine, so long as you follow the Michelin guide.
What, aside from location, precisely, sets this apart from the other 143 2/2 condos currently for sale in Lincoln Park? Or the 238 in Lakeview? Yes, many of them aren’t new-ish like this one, or aren’t in 3 unit buildings like this one, or aren’t top floor like this one, but, apart from the beams, how is this one unlike *dozens* of others of the same vintage in the same size building?
“Of course not….but if you do eat at McDonald’s, then why would you bash it?”
I don’t think anyone knocking this place lives in a 2/2 condo in a 3-unit building for which they paid over $500k, but I could be wrong.
“I don’t think anyone knocking this place lives in a 2/2 condo in a 3-unit building for which they paid over $500k, but I could be wrong.”
I’d bet that half of the people posting on this site live in a 2/2 which they dramatically overpaid for and are stuck in…..hence the massive bitterness here.
““I assume then all of you bashing this “cookie cutter” condo live in homes that you hired an architect to custom design and build, correct?”
No but I DO have an ice delivery chute, chew on that for a while”
no but my home when i bought it still had the “coal room” in the basement i made it a bathroom as my coal delivery guy either was fired/layed off/quit/passed away 80 years ago.
“I’d bet that half of the people posting on this site live in a 2/2 which they dramatically overpaid for and are stuck in…..hence the massive bitterness here.”
Or a 2/1 that they somewhat overpaid for but are still stuck because of the flood of 3/2, 2/2 and 2/1 on the market
“my coal delivery guy either was fired/layed off/quit/passed away 80 years ago”
Huh. Thought there was still a lot of coal delivery in Chicago into the 50s. No?
“I cannot understand why anyone would buy a 2/2 in the mid to high 400s. It just seems ridiculous to not get a den or family room in there. I guess I’m in the minority as they seem to be moving in LV and LP.”
Sure, a den or family room, or while we’re at it, a third bedroom, would be great. But that’s hard to come by in this price range. There have been some townhomes in the mid to high 400’s, with a family room and a third bed, but they’re often west of Southport in LP, or have some other downside. And, some people (including me) don’t want to have any part of their dwelling at ground level (at least in this range; were it a few million dollar SFH, my tune might change). Hence the attraction of being up on the top floor of this three unit place (there’s nobody above or to either side).
A powder room and some sort of separate space in which to place a desk, or to simply sit and not be in the living room, would make this place all the more attractive. It’s certainly not worth the mid-500’s right now, but the mid-400’s is not unrealistic or unreasonable.
“I’d bet that half of the people posting on this site live in a 2/2 which they dramatically overpaid for and are stuck in…..hence the massive bitterness here.”
I thought it was the renters who are bitter.
Also, anonny doesn’t fit your profile, is an east-of-Halsted booster (understatement) and even he called the living space “lamentably ubiquitous”–which is just the six-bit way of saying “cookie cutter”.
“no but my home when i bought it still had the “coal room” in the basement i made it a bathroom as my coal delivery guy either was fired/layed off/quit/passed away 80 years ago.”
I’d bet then that your home is “cookie cutter” circa 1890-1930. How many blocks in the city are filled with identical brick 2 or 3 flats built 100 years ago?
“No. 1 star and up is fine, so long as you follow the Michelin guide.”
I went to Mercat a la Planxa last night, definitely should have gotten a star this year.
“Also, anonny doesn’t fit your profile, is an east-of-Halsted booster (understatement)”
Pffft, East of Broadway or GTFO!
MLS shows 140 2/2 currently for sale in LP, 34 closed over the last 3 months for a current inventory over 12 months.
MLS shows 266 2/2 currently for sale in LV, 59 closed over the last 3 months for a current inventory over 13 months.
And none of this takes into account the massive shadow inventory.
““my coal delivery guy either was fired/layed off/quit/passed away 80 years ago”
Huh. Thought there was still a lot of coal delivery in Chicago into the 50s. No?”
hey i am no historian just threw out a large random number for dramatic effect 😉
“How many blocks in the city are filled with identical brick 2 or 3 flats built 100 years ago?”
probably very many but mine is frame so i dont notice. there is a house a few blocks away that look like my shape, but inside its layout is different and i have a large front porch that is different than his.
but hey what do i know
G-do u ever get tired of being so friction negative about everything?!!! Lighten up – nobody wants to be around a Debbie downer
Buildings that have brick 2-3 flats built in the 20’s actually have a little architectural interest and add some character to the street. The crapboxes built in the last 10-12 years are going to look like the 4+1’s of the 60’s in the same time frame if not sooner.
Besides, when a vintage building is pulled down for a crapbox, the whole character of the street is ruined. But hey, it’s all good because it’s progress, amirite?
Groove – coal delivery still went on in the 50’s. Mom remembers coal being delivered to her aunt’s house in Evanston. Landlady here bought in ’64 and loves to talk about the old Kewanee furnace that was converted to oil from coal.
G is not negative, but realistic.
Thanks, dd. I would also say that I am upbeat and optimistic about the ongoing increases in housing affordability.
I like the fact that this 2/2 has a balcony off the front which most do not. Too many make the guests traipse through the master bedroom which I really hate and would never buy.
Buildings that have brick 2-3 flats built in the 20’s actually have a little architectural interest and add some character to the street. The crapboxes built in the last 10-12 years are going to look like the 4+1’s of the 60’s in the same time frame if not sooner.
Anonemoose on December 15th, 2010 at 5:14 pm
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Yeah, but then it’s the same comments you hear around here about vintage. If it has all of the classic vintage features (wood, built-ins, transoms, et cet): “That kitchen is so TINY! Those bedrooms are so small! No W/D in unit? WINDOW UNITS?! No parking on-site, but LEASED NEARBY?! *faints on a chaise* Rent it for $1,000/month or knock 60% off this price!”
If it’s a complete demo/rehab then it’s just so incongruous or what-have-you.
Like it or leave it (Me? I’ll leave it), the modern sensibility says “vintage” often doesn’t carry the “must haves!” of the market. Kitchens will be smaller, bedrooms will be smaller, bathrooms will often be smaller, with the foci on large common areas. Parking will often be nil. Outdoor space, rare.
Things like this go up with the larger bedrooms/baths, open kitchens, more closets, outdoor space, HVAC, in-unit laundry, and parking and then it’s “so vanilla!”
It’s like hunting for unicorns.
The architectural details of the victorian and arts and crafts period that remain today pale in comparison to the blandness that prevails today. The wood fixtures and moldings in the older homes was milled up north from old growth pre columbian trees, whereas today, high quality wood is nothing more than glue and sawdust wth a coat ing of veneer.
http://www.redfin.com/IL/Chicago/4054-N-Kilbourn-Ave-60641/home/13481456
This is cookie cutter from 1893. Today it’s overpriced and in need of a seriously expensive restoration, but has vintage and craftsmanship that is so difficult to come by today.
G-do u ever get tired of being so friction negative about everything?!!! Lighten up – nobody wants to be around a Debbie downer.
hmmm. disagree. No doubt the lightened-up, friction-positive (and Lambo-ownin’) people are the type that everyone “wants to be around.”
But I got no problem with the company of smart “Debbie downers.”
It’s the dumb “puppy-uppers” I got no use for — they grow on trees.
Our cynicism is so unrelenting it hurts.
This is cookie cutter from 1893. Today it’s overpriced and in need of a seriously expensive restoration, but has vintage and craftsmanship that is so difficult to come by today.
homedelete on December 15th, 2010 at 7:49 pm
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Yep. Sure does, HD (natural trim and built-ins are gorgeous; fireplaces are adequate for vintage tbh) but…
“Oh, that LOCATION! And even if you wanted to sell the units individually, a 2-bed ONE bath? Much less a 3-bed one bath?! And I see they don’t dare tell us the bedroom dimensions! I bet they’re smaller than my mom’s walk-in master bedroom closet in the burbs! And WINDOW UNITS!? In this day and age? What an energy waster; if it isn’t a programmable thermostat, I just couldn’t ~live~ with myself!”
And so it goes with vintage. People want all the original beauty and decor of the finishes, but the floorplan schematics of near 100 years ago “could simply NEVER do!” with the sensibilities of today.
Hence, the modern ELP/ELV 3-story cookie cutter condos.
boiztwn: I totally agree with you, 100% and fully.
That’s why you leave the victorian/ arts and crafts exterior, and gut the interior and leave as much as the craftsman woodwork as possible. This 2-flat would make a fine single family home after everything was opened up.
Hence, that’s why I said “in need of a seriously expensive restoration” – but in retrospect I should have send, renovation.
But often I want to eschew the victorian or cookie cutter all together and instead get a completely modern dwell type home in the village (The ukranian village) or west town, etc. but that’s still a little out of my price range and they command a premium price above what an early 20th century victorian would sell for.
Here’s an 1898 victorian that sold fairly quickly as soon as it listed for $400k. The floor plan was opened up, HVAC, etc, bigger bedroom. But it looks like a lot of vintage charm was lost in the gut and the exterior is a little fug.
http://www.redfin.com/IL/Chicago/4130-N-Saint-Louis-Ave-60618/home/13482338
I’m not MLS-approved, so no looky for me 🙁
Personally, I’m not a fan of “keep the facade; destroy the rest!” I appreciate vintage for vintage, little bedrooms and all. I’d have to see the pics on your link to give you more informed thoughts as opposed to my zero-sum-game worldview! ;D
Boiztwn, you don’t need to be MLS approved. Just register on Redfin. It’s free.
The work that HD showed is nice, but I agree. Looks like they took a little bit too much out.
“It’s like hunting for unicorns.”
The mania is over. If they want to still charge for unicorns, then they’re now expected to provide them.
boiztwn and HD,
i can live with vintage easily even a one bath vintage. i can live with all its headaches and compromise to modern day.
but the one thing that vintage really “grinds my gears” is in the closet space. THERE IS NONE, well really its just small coat closet, had does a boy with a shopping addiction deal with that.
“closet space. THERE IS NONE”
Yes, I’ve had to build my own spaces (along with what previous owners have built). It does humble me somewhat to sit and ponder the meager possessions the early owners must have had. There was no place to put anything.
“This is cookie cutter from 1893. Today it’s overpriced[.]”
What’d those places rent for? Could you eke out $2k, combined? $1750? If so, and assuming (likely a v.v. bad assumption) nothing major needed for code compliance to rent, it most certainly is NOT overpriced, esp with the extra lot, already a separate lot, included in the price. Not that it should or will sell for ask, but if closing price is less than 10% off ask, then the ask price was right.
The wall above the stove looks like some serious water damage but I could be wrong.
You could probably eke out $2,000 if they were completely rehabbed.
Comps in the area are $200’s and $300’s for livable 2-flats; and $100’s for 2-flats that need work. This one appears to need work so it’s between 33% to 50% overpriced – even with the double lot.
i don’t like creaky floors, thats why I don’t like “vintage”
creaky floors are like nails on a chalkboard to me, and to not hear that i’d have to live on a top floor… and even still i’d hear them when I walk on them. And then i’d have to do lots of STAIRS (and im an in shape person but still hate stairs+groceries!) ugh
“It does humble me somewhat to sit and ponder the meager possessions the early owners must have had. There was no place to put anything.”
Took me a few to find where I had recently read something about this–specifically related to clothing. Here it is:
http://online.wsj.com/article/SB10001424052702304410504575560552064806106.html
Actually I take that back, the ones that need work are in the low 200’s, not in the 100’s. There was one frame that sold in the mid-100’s over the summer but everything else brick is 200’s if it needs work, and $300’s if it is livable. So take that down to $250 or so, maybe a little less, and it would probably sell. IT’s about 20% over priced.
“(and im an in shape person but still hate stairs+groceries!) ugh”
i dont think its a fit/health thing more as a quantity of hand thing. this summer if i had a full load of bags i think i cried a little each time i pulled into the parking space.
the plastic grovery bag handles turn into razor wire once you put a few jars of spaghetti sauce or anything else heavy! multiply that x10 and you understand!
“the plastic grovery bag handles turn into razor wire once you put a few jars of spaghetti sauce or anything else heavy! multiply that x10 and you understand”
add a kid in your other hand plus diaper bag and you will see a grown man cry 🙁
“The wall above the stove looks like some serious water damage but I could be wrong.”
I’d guess wrong (of course, I could be wrong) as it looks like the improperly capped off chimney tie-in. Decent amount of cosmetic work and a manageable (for me, even, and I stay away from brickwork in general) masonry job fixes that.
There are two reasonable comps under $250 from the past year. Neither with an extra lot (which *is* worth more than the same size single lot–you can sell it anytime), neither of which are masonry, neither in even as good of condition as this one and only one in a similar location. The most similar cheap one sold for $190.
3922 Kildare looks like a good move-in comp, which sold for $385k. Principal diff (again, assuming minimal code compliance issues at 4054 Kilbourn–if there’s major stuff, it’s all a straight credit to sale price) is carpet and paint. It’s also a 50′ lot, but the building’s in the middle, so you get no bankable lot.
Of course, both HD and I are speculating on the basis of 16 pix, which isn’t nearly enough even if the place were brand new.
“the plastic grovery bag handles turn into razor wire once you put a few jars of spaghetti sauce or anything else heavy! multiply that x10 and you understand!”
Anyone on here ever used Peapod? Tried it a couple of weeks ago, and it was pretty o.k.
I’m sure plenty of people have toured the place. Multi-units are the hottest thing and pretty much are the majority of units under K and for sale in many neighborhoods. Or just my neighorbhood I really have no idea. Regardless, it’s not like this is a diamond in the rough or anything, there’s gotta be something wrong with it or else some investor would have snapped it up long ago.
That 3922 was a nice place, I think some younger couple bought it, I rode my bike past it once and there was some total colorado REI lookin’ couple chillin in the front yard with their sport x-terra or whatever.
“Of course, both HD and I are speculating on the basis of 16 pix, which isn’t nearly enough even if the place were brand new.”
“Multi-units are the hottest thing and pretty much are the majority of units under K and for sale in many neighborhoods. Or just my neighorbhood I really have no idea. ”
My neighborhood, too. About the only thing going right now. That, and SFH foreclosures to reno.
“But it looks like a lot of vintage charm was lost in the gut and the exterior is a little fug. ”
A lot of vintage charm lost? Looks to me like all of it. What’s left?
“some investor would have snapped it up long ago.”
When you attempt to use a term of mockery seriously it’s hard to discern your meaning.
anonny: I’ve tried Peapod a few times over the years. Recently I haven’t been a fan of their produce which would be my main goal with a delivery service to keep fresh fruits & veggies on hand. I can handle the biweekly dry goods run on my own.
“had does a boy with a shopping addiction deal with that.”
They move to boystown?
Just had a baby boy so we use Peapod all the time. It’s really convenient for the heavy and bulky stuff – water, soda, cereal, beer, etc. Produce is meh and it’s more expensive than Jewel/Dominick’s in general, but it definitely serves a useful purpose in our household.
My Jewel is walking distance and as terrible as it is in terms of having overpriced crap, peaopod is even more expensive. Plus its tough for me to grocery shop online unless I have a list already made up, which I only sometimes have ready. Also I live in an elevator building and have an old lady style grocery cart that is worth its weight in gold
““had does a boy with a shopping addiction deal with that.”
They move to boystown?”
there is not enough good shopping over there, i would get bored to quick 🙂
“the floorplan schematics of near 100 years ago “could simply NEVER do!” with the sensibilities of today.”
So much easier to change a sensibility, compared to a floorplan.
Suck my coal chute, vintage rules.
Cookie Cutter.
Except for the vaulted ceilings.
And nice, large open windows.
And skylights.
And good location.
And balcony and deck.
And backyard.
And interesting exterior.
And price under 500K.