This 3-Bedroom Duplex Has More Space Than Many SFHs: 3156 N. Cambridge in Lakeview
This newer construction 3-bedroom duplex down at 3156 N. Cambridge in East Lakeview has been on the market since October 2010.
At 3000 square feet, it has more square footage than most single family homes in the area in the same price range.
Built in 2007, it has luxury features such as custom millwork and natural stone baths.
The kitchen has custom Italian cabinetry, Viking and Bosch stainless steel appliances and granite counter tops.
All three bedrooms are on the main floor.
The unit has 2 fireplaces including one in the large 28×15 lower level family room which has enough space to carve out a fourth bedroom if need be.
It also has a heated attached garage, central air and washer/dryer in the unit.
Since October 2010, the price has been reduced $75,000.
The unit is now listed $60,000 under the 2007 purchase price.
Is this a deal for the space and location?
Leigh Marcus at @Properties has the listing. See more pictures here.
Unit #1: 3 bedrooms, 3 baths, 3000 square feet, duplex down
- Sold in July 2008 for $759,000
- Originally listed in October 2010 for $774,000
- Reduced several times
- Was listed in May 2011 for $719,900
- Reduced
- Currently listed at $699,000
- Assessments of $145 a month
- Taxes of $10,022
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 14×14 (main floor)
- Bedroom #2: 12×11 (main floor)
- Bedroom #3: 12×11 (main floor)
- Family room: 38×15 (lower level)
Thank god all the bedrooms are above the sewage level.
Still overpriced though. Needs to be in the low $500s.
Ouch on the taxes.
“Ouch on the taxes.”
$759k sale in ’08? They’re actually kind of low.
Basement level is l.o.w.
Building footprint is ~1600, so it might be a legit 3000 sf.
This is a great street. I’m not a fan of duplex down, however.
Pretty home… Does having such a small association impact the price? I have heard so many horror stories about small associations, I would be inclined to stay away.
Small association? The 2,3,4 flat type associations are the easiest to deal with. There usually isn’t much to do and not a lot of commmon issues to deal with.
The next best associations are the large/massive ones. 250+ units becuase they have critical mass and are professionally run.
The (I’m guessing here) 25-150 unit type associatons require lots of services/expenses but don’t have critical mass so those types of associations usually run into probelems.
I am not a fan of duplex downs, but I really like this place. It has all of the bedrooms upstairs, is pretty tasteful, has an attached garage and a good location. I wouldn’t be surprised if this went for between $650 and asking with how large it is.
3000 square ft of elegant subeterranean living…
compares favorably to the Carlsbad caverns at this price point
Dear Chicago, I know the other side of Lake View isn’t as cool, but you can get townhouses (no association, own your land) with the same amount of square footage for under $600K in Burley. You’ll get roof decks and small back or front yards. Come join us.
This one bores me, but at least I am curious, does this part of Lakeview have a lot of buildings like this? I would expect not and that it is kind of unique around there. Nice location and nice finishes. I think that it was just overpriced from the start – I don’t see how anyone can think that it’s worthwhile to price it that close to what you paid for it just three years ago in this market. I think maybe around $640k someone will buy this but I don’t see it getting there any time soon.
Reply – good points on nuances of association sizes.
Otherwise – my wife and I have visited quite a few duplex down 3/3 in Lakeview, Lincoln Park, Bucktown, etc… I swear they’re reproducing like gremlins. They’re everywhere, and they’re all 650k asking. Every once in a while, you find one that’s 799k, exactly the same as the 650k around the block. Hilarious. Sellers in total denial.
With all these 3/3 duplex down at 650k, I realize a few things. 650k isn’t the clearing price, otherwise they wouldn’t be on market for 300 days+ in many cases. Also, there must be something crappy about living in a 3/3 duplex down. Everyone’s selling, especially families with kids.
I doubt the 3000 sqft. Take a look at the floor plan. The master bedroom is over the garage (it’s like an enclosed gator deck), there are 2 large spaces on the lower level that appear to be not part of this unit (a staircase and other units’ storage?), and a space on the upper floor also not includes in this unit. Even counting the garage, it would be very difficult to get up to 3000 sqft. Plus, if I had 3000 sq ft and 3 bedrooms, I would want the secondary bedrooms to be larger than 120 sq ft.
The grilling deck is through the master and looks like it hangs out over the garage approach, right on the alley. Not an attractive street. The building is across from a large 4+1 AND also next to another 4+1.
This is a fail at 699k. Guessing 550 would get it sold.
“I doubt the 3000 sqft. Take a look at the floor plan.”
Hadn’t seen the floorplan. This is *NOWHERE* close to 3000. It’s likely barely 2300, unless you count garage space. Hadn’t anticipated the second staircase.
I am good friends with the owners of unit 4 in this building. They are exactly the type of people you would want in an association of this size.
On the lower level there are storage units, and there is a second interior staircase, as alluded to in an above post.
The middle two units have never been sold, so financing is probably going to be an issue.