We Love 3-Bedroom Authentic Lofts With Huge Private Rooftop Terraces: 2035 W. Charleston in Bucktown
There are the gritty lofts and there are the classy lofts.
This top floor 3-bedroom at 2035 W. Charleston in Bucktown qualifies in the classy category.
It has all the features loft lovers look for including 12 foot ceilings, exposed brick, big industrial windows and exposed timber beams.
But it also has 2 fireplaces, including one in the master bedroom, and built-in bookcases.
The kitchen has white cabinets, what looks like granite counter tops and stainless steel appliances.
There are skylights and the loft has a rooftop sunroom and 1350 square foot private rooftop terrace with views of downtown (love the dog in the picture!).
There usually isn’t parking with this building, but the listing says there is a “privately owned garage included.”
It also has central air and washer/dryer in the unit.
This loft is listed $212,000 over the 2004 purchase price.
With Bucktown still a hot neighborhood, will it get the premium?
Ro Lebedow at Koenig & Strey Real Living has the listing. See the pictures here.
Unit #403: 3 bedrooms, 2 baths, no square footage listed
- Sold in July 1994 for $333,000
- Sold in August 2004 for $575,000
- Currently listed for $787,000
- Assessments of $325 a month
- Taxes of $6053
- Central Air
- Washer/Dryer in the unit
- Garage included
- 2 fireplaces
- 1350 square foot rooftop deck
- Sunroom
- Bedroom #1: 23×15
- Bedroom #2: 14×12
- Bedroom #3: 17×12
Gorgeous. Love it.
This place is fantastic, but isn’t the price approaching townhome or single family?
The place is beautiful and the sunroom/deck is awesome. That said, I am not overly wowed by the kitchen nor bathrooms.
I think they could get around the 2004 price no problem but pricing this high I think they’ll be chasing the market downwards.
Pricing seems a bit crazy to me. Compare to another unit one floor down.
2031 W Charleston #303:
$575,000 Resale 06/15/2005
$449,000 Resale 04/21/2011
And now you’re saying a different loft that sold for 575 1 year earlier is worth 40% more than its mid 2000’s price? I’m not saying that this thing should sell for 450, but seems like a pretty huge divergence between to pretty similar units.
Also neighborhood comps don’t really support this price – see recent closings in 1750 N Wolcott, 2001 W Wabansia.
Of course, it only takes one buyer (and apparently that’s all it did take b/c Redfin says under contract?).
Already under contract:
http://www.redfin.com/IL/Chicago/2035-W-Charleston-St-60647/unit-403/home/40297511
“Compare to another unit one floor down.”
Why not compare to another top floor unit (#402), also with a roofdeck and parking:
http://www.redfin.com/IL/Chicago/2035-W-Charleston-St-60647/home/13357476
$577 in May-04, $540 in June-11. Maybe not quite as nice as this one (but $200k makes it a lot nicer), maybe not quite as big (nothing to be done for that), but still, the single best comp, and any appraiser will deem the past 9 months a declining market.
Does every thread need to evolve into a debate on the appropriateness of the list price? Wouldn’t it be novel just to discuss the property itself? Maybe it’s just me, but most threads are unremarkable when the discussion always (and almost always quickly) turns into how overpriced the property is or something similar.
Nice unit, but terrible photography and staging. Photographer needs to use a wider lens and the space is cluttered with too much furniture. Next time take out the bookshelves and let it breathe a little.
Welcome to CC ChrisM.
“Wouldn’t it be novel just to discuss the property itself?”
How can you truly separate the property from the asking price?
It’s a fantastic property (look at the size! and the deck! and it has parking!) as is for $300,000, it would be a terrible property (so-so, mismatched kitchen! dated baths! what’s with the crappy selving in the master closet?!?!!?) at $1mm. What the price is matters for evaluating the features of the place.
Kinda agree about the “couldn’t you get an SFH for this price” thing, tho.
“Does every thread need to evolve into a debate on the appropriateness of the list price?”
did you mean Devolve? Or are you reserving that for discussions about skin-to-skin, the Orginin of Milkster’s alias and school system wars?
Pretty awesome. Knowing next to nothing about BT, $600k doesn’t seem unreasonable.
“Does every thread need to evolve into a debate on the appropriateness of the list price”
if you want to look at pictures of cool homes google image “cool homes”
The price, and the debate thereof, is the reason people come here.
o ya, I think this is priced as though it is on the 400 block of webster
Crazy money. Greedy seller. I’m anticipating 20 $10,000 price reductions before it sells in summer, 2013.
upon further reflection I think Chris may be saying that there’s only so many ways to say a property is overprices so we don’t need 80% of the comments devoted to it.
While everything would theoretically fall into one of three buckets — overpriced, underpriced, priced-right — has there ever been a property listed on CC that most everyone felt was underpriced?
There’s also only so many ways to say “nice kitchen”, too. Price, for most people, is the single most important factor in buying a property, so why not concentrate on it?
There have been many properties that were speculated to be priced too low in order to incite a bidding war.
Alrighty. Maybe I just need a break from CC!
“Crazy money. Greedy seller. I’m anticipating 20 $10,000 price reductions before it sells in summer, 2013”
As R says, it appears to be under contract. This will be interesting to see whether and what it closes for!
“Wouldn’t it be novel just to discuss the property itself?”
Hmmm…I worded that wrong. I guess I meant a discussion other than just how overpriced every property is. Exclusive of Dan’s exhausting tirades on race.
Icarus–I’m sure there have been some properties uniformly regarded as underpriced but they’re a rarity int his market. If a property is materially underpriced it’s usually off the market within a week–not much time to identify and post as a thread I would imagine.
I think a lot of people are tired of the glut of overpriced properties.
“Kinda agree about the “couldn’t you get an SFH for this price” thing, tho.”
http://www.redfin.com/IL/Chicago/1838-W-Wabansia-Ave-60622/home/13354772
Lacks comparable outdoor space, but its a fully renovated SFH, better finishes, better location imo, similar taxes, an extra half bath, on site garage and sold for $700K even.
Hah–this sentiment is also probably coming from growing tired of taking clients out to see one overpriced property after another, weekend after weekend. Going out on these showings has definitely highlighted the disconnect between buyer expectations and seller expecations.
Well at least you don’t have to wait long for your answers…it went under contract in 5 days (CTG on 2/29/12).
“Lacks comparable outdoor space, but its a fully renovated SFH, better finishes, better location imo, similar taxes, an extra half bath, on site garage and sold for $700K even.”
I just meant that someone likely to buy this condo w/ roofdeck is not likely to be cross-shopping for a SFH in the same price range, in the same hood. Not no chnace, of course, but not likely.
I’d personally take the Wabansia place alldaylong, but also highly unlikely to deem condo issues to be worth it, so wouldn’t consider this place at $300k, either, except to rentout.
I was curious what you all thought the $ premium for having a large rooftop deck is vs a regular of living room deck with no view?
[anon (tfo)]
It wasn’t directly at you, I just felt that linking to a comparable SFH was a good idea… and after following the Wabansia place since its first day on the market, I immediately thought of it.
Speaking of SFHs on Wabansia, I’m not sure how one can turn down http://www.redfin.com/IL/Chicago/1840-W-Wabansia-Ave-60622/home/13354773 versus this, admittedly quite nice, condo.
Maybe I just don’t love exposed plumbing as much as I should?
Will be nice to see what it closes at.
I guess this one doesn’t fit the CC meme.
dude:
I was just following thru on the thought–that most likely, the two properties were appealing to a two sets of buyers with little overlap. And I have a hard time shutting up. Didn’t take it as “directed” at me.
uffy, I like that house on Wabansia a lot but can’t figure out the layout for the life of me. Are the living/dining room/kitchen on the top floor with the original woodwork and the family room on the first floor with the white woodwork? Where are the bedrooms? I would expect the entry door to be by the fireplace in the first photo, not in one of the last photos without the beautiful woodwork.
“Well at least you don’t have to wait long for your answers…it went under contract in 5 days (CTG on 2/29/12).”
Maybe someone just watched Leap Day Williams again and thinks that actions taken on Leap Day have no consequences.
Honestly, there’s just a small number of SHFs in which I would consider living *in* Chicago, and I don’t see myself being able to afford them (and, even if and when I can, I’d just assume have a second home in a vacation destination). I’d take the subject property over many SFHs in the city listed at $1 million (and I have zero interest in living in BT).
Anyone see the “When the Math Says Buy” article in the NYT today? Offers sight unseen, higher offers “just to be safe”. God bless Chicago.
http://www.nytimes.com/2012/03/04/realestate/the-hunt-when-the-math-says-buy.html?_r=1
Looks like this one is back on the market. I am really interested in the space, but the price does seem steep. Wondering what happened to former offer…and how unrealistic the seller is at this point….
Yes – no longer under contract and price dropping (still crazy).
I saw the property and I do think its overpriced. The space is very nice but the kitchen is definitely dated and the bathrooms could also use some updating. The roof deck is really fantastic though.