Top Floor Vintage 3-Bedroom Reduces $25,000: 2817 N. Orchard In Lakeview
We last chattered about this 3-bedroom top floor unit at 2817 N. Orchard in Lakeview in November 2011.
See our prior chatter here.
At that time, it was listed at $429,000 and we chattered about whether it would sell for over $400,000.
It has now been reduced to $400,000 so the answer appears to be “no.”
If you recall, this is a rare 3-bedroom vintage unit that also has 2 full baths (usually they have just 1 bath.)
Some of its vintage features remain including crown molding, an antique fireplace mantle and built-ins in the dining room.
This was a 2007 conversion so it has all the newer finishes. The kitchen has granite counter tops and stainless steel appliances with newer cherry cabinets.
The unit also has central air, washer/dryer in the unit, a balcony and an outdoor parking space.
Back in November, most of you thought mid-$300,000s got the deal done. Does that still hold 4 months later?
Craig Easly at @Properties still has the listing. See the pictures here.
Or you can watch the YouTube video here (warning- music!)
Unit #3S: 3 bedrooms, 2 baths, 1300 square feet
- Sold in May 2007 for $445,000
- Was listed in November 2011 for $429,900
- Reduced
- Currently listed at $400,000
- Assessments of $299 a month
- Taxes of $5613
- Central Air
- Washer/Dryer in the unit
- Outdoor parking space included
- Bedroom #1: 12×12
- Bedroom #2: 12×11
- Bedroom #3: 10×9
Nice looking unit, but the cornicectomy on the front kind of makes it look sad.
Not a good street, as I’ve said before. No surprise it hasn’t sold. Do you really want to be this close the Century’s massive parking garage?
I agree with FG on the corinectomy as well.
If you’re looking in Lakeview, you could do a lot better.
I am not sure you could do much better in this part of Lakeview. I agree that this street is not the best, but with good features (Central Air, Parking, W/D) I think this is getting much closer to where it ultimately closes, probably $375K.
I think it is hard to do much better in Lakeview if you love vintage. In addition to the two baths, c/a, parking and w/d, the wood is not painted and it feels like it has the vintage features intact. I thought $400k seemed reasonable and still think they should find a buyer between here and $375k.
With two mortgages for 95% of the orig 445k purchase, renting must not have been an option, alas.
I agree with the pride of place they’ve given their framed picture of Ralph Wiggum.
It’s definitely the location holding it back. One block west on Burling or around the corner on Oakdale, this would have sold for $400/420k. It literally has everything (besides the cornice).
Went to an open house at this place a couple of months back. The unit is not as nice as it looks in the pictures. The woodwork and floors need to be stripped and re-finished. Some of it is covered in layers and layers of stain and some of it is actually covered in brown paint (which looks like dark stain in the pictures). The rooms are small even by vintage standards; the outdoor space is tiny (and loud); and the hallway/entry is dark and in need of rehab (old, old, old, carpet on the stairs). Even without the location issues, this is not a $400k property.
I will give the realtor credit for admitting in the ad that the third bedroom isn’t really big enough to be used as a bedroom. But if that’s the case, shouldn’t it be priced more like a 2 BR?
Gorgeous place.
Nice enough place. Location is ok. Seller should be happy to get $250/sq ft x 1300 = $325k.
Drew and CG were low; Lunker and Ben9 were high and it took much longer than he expected. Giard getting closer. MRK pretty much right on.
$372,500 after almost a year on the market.