Looking to Re-Sell 2 Years Later in a New Conversion: 2930 N. Sheridan in Lakeview
Some resales have been appearing in the apartment to condo conversion building at 2930 N. Sheridan in Lakeview which is not yet sold out.
Last October we chattered about price cuts by the developer in the building. See our chatter here.
Since then, the developer has also been renting the available units.
This re-sale 2-bedroom recently came on the market.
It is one of the completely upgraded units with hardwood floors, an in-unit washer/dryer, stone baths, and a large kitchen island with granite counter tops.
The corner unit does not have central air, but it does have wall air conditioning units.
Parking is also available in the building.
Daniel Rosenberg at Building Equity has the listing. See the pictures here.
Unit #306: 2 bedrooms, 2 baths, no square footage listed
- Sold in January 2008 for $355,000
- Currently listed for $319,400
- Assessments of $340 a month
- Taxes of $4500
- No central air- wall units
- Washer/Dryer in the unit
- Bedroom #1: 15×12
- Bedroom #2: 12×10
This building took a trip through the ugly forest and tripped on every twig along the way.
This building actually isn’t as ugly in person as the photo is… the price is outrageous since it isn’t a lake view but this property wouldn’t be last on my list of places to live
These mid-century highrises like this one and 6030 N Sheridan are indeed be the last of my places to live. Perhaps it it was free…even then I’m unsure.
I agree with Bob. I would curl into a fetal position in a place like this and cry as my soul slowly disintegrated.
Then at some point I would go start Fight Club, but I can’t talk too much about that.
Its really not that bad, go inside this one sometime, the whole lobby is marble. The elevators are janky but the building isn’t that bad and at least you get some windows in these buildings unlike those vintage co-ops next door
“this one and 6030 N Sheridan”
That’s sort of like lumping together where you live right now with a Rogers Park 4+1–the buildings may be similar, but the locations are so totally different as to render the connection kinda silly.
But I bet you’d still prefer either to a mansion in Ford Heights (not that there is one).
The connection is that these kind of buildings give me nightmares so I don’t think it’s kinda silly.
this building is horrendous. the quality is laughable. the developer bought the building and made some cosmetic changes with hopes of flipping to a bunch of suckers before the market tanked. he’s screwed and so are the poor people who bought there. i’m an agent and i made sure to steer very clear of this pit.
CK, please post more. you have been my entertainment for the day.
I think the rest of the 2 BR units will sell. There are still alot of people out there that will buy anything just to sing the “I have a Lincoln Park condo with mosaic tile and SS appliances and you’re still renting” song.
“I think the rest of the 2 BR units will sell. ”
Reality has already dictated otherwise. Oh yeah and with that homebuyer tax credit expiring in fifty days, I think that will be just another roadblack to restoring regular demand.
Alice in Wonderland (Obama) isn’t extending the credit?
“I think the rest of the 2 BR units will sell. There are still alot of people out there that will buy anything just to sing the “I have a Lincoln Park condo with mosaic tile and SS appliances and you’re still renting” song.”
I actually know some people renting in the building (and, as someone pointed out, it’s actually quite pleasant inside and the remodeled units are pretty nice- from an aesthetic point of view.)
The building is making it attractive for the renters to buy units by slipping flyers under their doors with the difference between renting their unit versus owning it (and with owning- of course- you get all the tax breaks- as the flyer points out.)
These are mainly 20-somethings. I’ve heard of several that have already decided to buy so the strategy appears to be working.
“I have a Lincoln Park condo with mosaic tile and SS appliances and you’re still renting” song. WTF?? So when did the 2900 block of anything become LP? Never heard that song before, never will.
CK,
You know the first rule of Fight Cub…
I mean Fight Club, (typo)
“Alice in Wonderland (Obama) isn’t extending the credit?”
Currently most analysts are expecting no this time around. Even ones who predicted it would be extended last time. There is evidence the effect of it has worn off and it really isn’t impacting the housing market now in terms of increasing sales. Which leads me to believe when it is pulled it will have the opposite effect and depress sales.