We Love Sophisticated Bucktown 3-Bedroom Penthouses With Wrap Around Terraces: 1615 N. Wolcott
This 3-bedroom penthouse in the Urban Sandbox at 1615 N. Wolcott in Bucktown recently came on the market.
The Urban Sandbox is an 8-unit mid-rise modern building originally marketed in 2007.
The architect was Miller Hull and in 2009 it won the Builder’s Choice Urban Infill Grand Award and Project of the Year.
See the architect’s website here.
We last chattered about the building in February 2012 when a 3/2 on the second floor came on the market for $699,000. (It appears it has since been withdrawn from the market.)
This penthouse is a whole other story.
It is 70 feet wide and has a 490 square foot wrap around terrace as well as a 500 square foot rooftop deck with hot tub and sauna.
It has 10 foot ceilings and floor to ceiling windows.
The finishes aren’t included in the listing, but the other units in the building have kitchens with Arclinea cabinets and SubZero, Miele etc.
It previously sold in 2009 for $1.1 million.
Now listed at $1.2 million, will it get the premium to the 2009 price?
Douglas Horwich at Prudential Rubloff has the listing. See the pictures here.
Unit #402: 3 bedrooms, 2.5 baths, no square footage listed, 2 car garage parking
- Sold in August 2009 for $1.1 million
- Currently listed at $1.2 million
- Assessments of $379 a month
- Taxes of $17,522
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 14×19
- Bedroom #2: 11×15
- Bedroom #3: 11×10
What a terrible job by the broker. Not 1 pic of a bedroom? Seriously?
Now here is something I rarely see, which is an open kitchen I really like. Somehow this kitchen does not mar the main living space and it looks like it has enough storage space that you can easily keep it clean and uncluttered as it needs to be to look good.
This is a beautiful modern apartment. The outdoor space is beautiful. I even like the name of the place, Urban Sandbox.
I think it will sell at ask or close to it.
why would you pay 1 million + to be in bucktown?
I’m not nuts about Bucktown but it seems that many other people are, who will pay premium prices. For some reason, that area commands high prices. Perhaps it’s because the Bucktown area is a “clean slate” for adventurous architecture and a lot of interesting things are being built there.
And this place is really exceptional.
why don’t you guys like bucktown?
Looks like it’s Penthouse Thursday on Cribchatter.
Or you can get one of the Urban Sandbox SFHs:
http://www.redfin.com/IL/Chicago/1625-N-Wolcott-Ave-60622/home/12608793
“I’m not nuts about Bucktown ”
That’s an understatement.
“why don’t you guys like bucktown?”
Mostly, I think its bc of Jon.
Love the place but it doesn’t look all that huge. I’d like to see the $/sf.
The taxes are outrageous.
Again, why would I just give $100k to the seller, especially when prices have dropped substantially since 2009?
The assessments also seem artificially low and I would worry about the long term health of the HOA.
I love this place but its right on North Avenue, maybe 800k?
“I’d like to see the $/sf”
Seems like the interior space ballpark is 2800. I’d put a likely range of 2500 to 2900, based on building footprint, and having no understanding of hallway/elevator/stair location. So ~$400 psf
“I love this place but its right on North Avenue,”
It’s north of the alley off of North. Darn close, but not “on”.
“maybe 800k?”
haha.
“That’s an understatement.”
Yes, though everything else LL said in the post was perfectly balanced and reasonable.
“its right on North Avenue”
Would bother me for SFH, but distance from north (it’s not right on) seems fine for this kinda place. Also, there is one photo of the master bed, and a couple of the exterior photos seem to be taken from the architect site.
The pluses for btown/wicker generally are that it’s close to blue line (or metra) and kennedy, v developed in retail/resto (really tempted to say swpl) but not as expensive as some other parts of the city. This specific location is in arguably most desirable section.
A $990,000.00 mortgage for a 26 year old owner who no longer lives in Chicago. OUCH!!!!!!!! Maybe he can sell to a former teammate eh? Or maybe go back home – they don’t have social security numbers in Canada so there’s no way to check his credit…..
i covet this place…
Um, hell no. Why not just go the SFH route at that point?
http://www.trulia.com/property/3084584779-1845-W-Huron-St-Chicago-IL-60622
http://www.trulia.com/property/1031507333-1708-W-Ohio-St-Chicago-IL-60622
A 4th floor “penthouse” isn’t really a “penthouse.” While I would never pay $1MM to live in a high rise, if you’re looking for a penthouse, there are much better options in that price range than one on the 4th floor.
definitely a new favorite listing description:
“Sophisticated Everything!”
i like it. lot of dough though.
The reason not to like bucktown is that there is very little GREEN SPACE. You are also very far from the LAKE. This might not bother your, but could bother the next buyer.
I am not a fan of that fireplace nor kitchen. The oven is outside of the kitchen in my mind…
I love the bedroom picture, bathrooms and rooftop deck though!
However, at this price in Bucktown aren’t most shoppers looking at SFH’s? I don’t see many condo buyers at this price range considering Bucktown but instead LP, RN, Gold Coast. Are there any other condos in Bucktown that have sold for this much? I would think the buyer with over $1M in Bucktown not interested in a SFH would be a rare bird which is unfortunate for this seller as it is a beautiful home.
I really like this place… but kitchen layout doesn’t seem like it’d work that well for actual cooking. More of a showpiece than workplace. And I really question the price… couldn’t one get a pretty nice single family in Bucktown for this price? I’m guessing $750k.
“a 26 year old owner who no longer lives in Chicago”
Two stops removed, even. Got to live in it for about 6 months.
“The reason not to like bucktown is that there is very little GREEN SPACE. You are also very far from the LAKE. This might not bother your, but could bother the next buyer.”
Doesn’t seem particularly low on green space, more than say nortcenter. And there seem to be plenty of $1MM+ buyers in the neighborhood (whether they’re interested in condo rather than SFH is a fair q).
“The oven is outside of the kitchen in my mind…”
I don’t know if they had a lot of choice if they wanted to keep the space open to the windows. And, uh oh, is that the fridge next to it?
“couldn’t one get a pretty nice single family in Bucktown for this price? I’m guessing $750k.”
You’d get an ok house on a short lot, nothing remotely fancy.
duh – the kitchen isn’t meant to cook in – it’s just for show – you’re not supposed to keep anything perishable in the fridge. The unit is fairly small because it not meant to house a family, only overnight guests, the floor plan is open for entertaining. This is the ultimate bachelor pad for young virile major league sports players – and it’s closer to the united center than any of the lakeshore neighborhoods.
“We last chattered about the building in February 2012 when a 3/2 on the second floor came on the market for $699,000. (It appears it has since been withdrawn from the market.)”
If it was unit 201, (which I think it was) it is currently under contract with a last list price of $679k.
http://www.redfin.com/IL/Chicago/1615-N-Wolcott-Ave-60622/unit-201/home/13052967/mred-07971651
Also in Bucktown people get beat up by baseball bats, there are heroine addicts on every corner, and more ink on skin than I care to see.
“And, uh oh, is that the fridge next to it?”
The fridge at least seems close to the sink and stove for preparing/cooking meals but if you want to use the oven there is no such thing as a work triangle that can include it unless you jump over the island. I’m not a fan of this type of kitchen anyways, but I brought up the placement of the oven to counter Laura’s statement of liking it a lot.
Those are my kind of assessments.
wper:
why don’t you guys like bucktown?
I liked late ’80s/early ’90s Bucktown. Early ’10s Bucktown is pretty meh. Too much new construction. A lot of good restaurants, though.
Regarding the property: not my style at all, but it looks very nicely done. Price is too steep for the neighborhood, though.
“heroine addicts on every corner”
I know everyone *I* meet in Bucktown loves ’em some Jane Eyre.
Oh I was thinking of the identical building on Division & Wolcott(Marion ct.) across from moonshine, that one is right on the major street
“why don’t you guys like bucktown?
Mostly, I think its bc of Jon.”
Thanks for thinking of me! I had no idea I was that memorable on this site since I don’t overpost and most of my comments are intended to be humorous or objective as someone who dabbles in real estate and likes the neighborhood that I live in as well as some others.
I wish I could repay the jab, but I honestly don’t pay attention to your comments, anon(tfo), and couldn’t seriously tell you if you are the guy that: (1) has a unicorn criteria list, (2) takes 12 minutes to walk 3 blocks to get to the el, (3) insists that all bathrooms have a bidet, (4) won’t pay more than $75 in assessments regardless of the amenities, (5) has a secret crush on Jenny, or (6) lives in Mundelein. Sorry for just not knowing!
“couldn’t seriously tell you if you are the guy that: (1) has a unicorn criteria list, (2) takes 12 minutes to walk 3 blocks to get to the el, (3) insists that all bathrooms have a bidet, (4) won’t pay more than $75 in assessments regardless of the amenities, (5) has a secret crush on Jenny, or (6) lives in Mundelein.”
Close enough! On all 6!!
(ok, not that close on #2–it’s 35 minutes to walk 2.5 blocks, even tho 2.25 blocks is too close to the el to deal with the noise and the “element” that proximity attracts)
I believe Fulton market/West Loop has the long-term advantage to be the “SoHo” of Chicago, not locations like this in Bucktown.
The space is great, immediate location is pretty good, taxes are RIDICULOUS. I think a 7 figure price tag is out of reach, but I wouldnt be surprised by a sale around 900K.
“Looks like it’s Penthouse Thursday on Cribchatter.”
I like the one on Dearborn better. Significantly better location, not goofy architecture, and much lower price!
“The taxes are outrageous”
“taxes are RIDICULOUS”
How much do you think that taxes should be if this has an assessed value of $1.1m? Seems about right to me.
They should cap property taxes. It’s ridiculous that one small condo should have to pay that much in tax. I doubt the person living there uses many city services.
“They should cap property taxes. It’s ridiculous that one small condo should have to pay that much in tax. I doubt the person living there uses many city services.”
Then the person living there shouldn’t have spent that much money on the unit. Property taxes have little to do with consumption and everything to do with value. The rich pay more in taxes; always have and always will.
“How much do you think that taxes should be if this has an assessed value of $1.1m? Seems about right to me.”
Agreed. Isn’t it typically 1.5% to 2% of price? That would place this in the 18M – 24M range, assuming an appraisal of $1.2MM.
There’s some very nice green space just a short walk from here – Wicker Park, Damen just south of North.
I still think there should be a property tax maximum based on the amount of land on which a property takes up.
“Oh I was thinking of the identical building on Division & Wolcott(Marion ct.) across from moonshine, that one is right on the major street”
That building went rental after something like 3 condo developers all flopped on it. I have a good friend that lives on the second floor in a 1bed, right across from Moonshine. Great scenery!
“benjamon9 (May 31, 2012, 12:18 pm)
We last chattered about the building in February 2012 when a 3/2 on the second floor came on the market for $699,000. (It appears it has since been withdrawn from the market.)
If it was unit 201, (which I think it was) it is currently under contract with a last list price of $679k.
http://www.redfin.com/IL/Chicago/1615-N-Wolcott-Ave-60622/unit-201/home/13052967/mred-07971651”
– that price doesn’t even include parking for Unit 201, which is an additional price of $19,000. I am very interested to see what it eventually goes for…
I couldn’t find #201 last night- but yeah- it appears that it is still on the market (but is under contract as benjamon9 said.)
You could also buy a single family home in the neighborhood for the price of #201 (if that’s your complaint about this penthouse unit as well.)
“Or you can get one of the Urban Sandbox SFHs:
http://www.redfin.com/IL/Chicago/1625-N-Wolcott-Ave-60622/home/12608793”
didnt Rodkin do a video in this place?
I believe Fulton market/West Loop has the long-term advantage to be the “SoHo” of Chicago
Well the WL is getting the SoHo house hotel! Ironically I recently learned that the hotel actually gets its name from the original location in London and not the one in NYC. I’m confident that once the Fulton Cold Storage building is sold and converted that niche area will explode with added development and indeed continue to build the vibe as the SoHo aa of Chicago.
This is pending so someone was in the market for a very expensive Bucktown condo.