This 5-Bedroom Old Town Penthouse Sells After 8 Months on the Market: 1515 N. Wells
We last chattered about this 5-bedroom south facing penthouse at 1515 N. Wells in January 2013.
See our prior chatter here.
Back then, it was listed at $1.995 million. Most of you thought your money could go further in other properties in Old Town, especially a single family home.
Others thought, for a condo, a buyer could also do better for that money in other neighborhoods in a high rise.
It was reduced to $1.85 million in March 2013 before selling in June 2013 for $1.69 million.
If you recall, at 3600 square feet, it had hardwood floors throughout along with an unusual “staff quarters” with a full bathroom and a separate entrance.
The kitchen had stainless steel appliances, with two ovens, and granite counter tops.
It also had custom finishes such as Tre Piu doors, Bisazza & Sicis tile, Marvin triple pane windows and custom drapery rods.
The unit had a rarely available 3 heated parking spaces in the building.
Is the luxury segment the hottest part of the market right now?
Charles Heaver at Prudential Rubloff had the listing. You can still see the pictures here.
Unit #6E: 5 bedrooms, 3.5 baths, 3600 square feet, 3 car parking
- I couldn’t find a prior sales price in the public records but Zillow says it sold in October 2007 for $2,597,500 (?).
- Originally listed in November 2012 for $1.995 million
- Was still listed in January 2013 at $1.995 million
- Reduced in March 2013 to $1.85 million
- Sold in June 2013 for $1.69 million
- Assessments of $1151 a month
- Taxes of $17,714
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 13×18
- Bedroom #2: 10×14
- Bedroom #3: 10×14
- Bedroom #4: 11×14
- Bedroom #5: 15×10
I dont know who a 5 bedroom condo is targeted to. For the price, you can get a SFH in the area. Im guessing a family with 2 or 3 kids that really enjoys condo life?
I would prefer a single family home, but maybe the buyer has a disabled child. Handicapped accessible homes in this price range are few in number.
Maybe target markets are undefinable in this category. My neighbor is 50ish, single, no kids, and hired folks to renovate a historic building into a 12,000 square foot home with 5 bedrooms, 5 bathrooms. We just say “TMM” (too much money.) We love that he is always improving his property with fine landscaping (a tulipalooza this spring), copper trim, brick circle drive, planters, a fountain. But when is it just TMM? I would never have picked him as a target for renovating, or in that manner.