We Love Terraces: 559 W. Surf in Lakeview
What if you could live in a vintage building AND have your own private outdoor space?
You can find it in a recently listed 1-bedroom at The Green Brier at 559 W. Surf in Lakeview.
Here’s the listing:
Sunny Penthouse Unit At The Greenbriar! Rarely Available On This Level, This Home Features Expansive Living Space And A Large Eat-in Kitchen With Island & Ample Table Space.
One Of The Only Units In The Building W/ A Private Terrace! Large Master Bedroom. Beautiful Hardwood Flooring Throughout Living/dining Space. New Carpet! Great Southwest Views. Deeded Garage Parking 35k.
Timothy Salm at Century 21 Sussex & Reilly has the listing. See more pictures here.
Unit #906: 1 bedroom, 1 bath, 1000 square feet
- Sold in October 2000 for $197,000 (looks like that included the parking)
- Currently listed for $249,000 plus $35k for parking
- Assessments of $519 a month
- Taxes of $3,180
- Central Air
- Washer/Dryer in the unit
- Private Terrace
They could easily ask $50K for the parking there. Street parking in that neighborhood is probably one of the worst in the city…
While it’s not an apples-to-apples comparison — vintage versus new construction, different parts of Lakeview, etc. — this is so much better than the “rare” one bedroom on Roscoe. Central air, parking and washer/dryer are rare in vintage high rises. The lack of detail doesn’t appeal to me but others may not care.
Parking ultimately is going to be rolled into the condo price so it doesn’t matter how much they are asking. The total ask is $284,000 – who cares if it is $100,000 for parking and or $6.50 for parking? The only price that matters is for the combo.
Not a bad deal!
While I typically find the separate the condo from the parking ploy offensive, in this case I don’t. Very few buildings in this immediate area have parking and, as Jason pointed out, street parking is almost impossible to find. I’m assuming that most condos in this building do not have deeded parking. So you could easily sell the two separately or even not sell it and rent to another unit in the building.
Taking parking out of the equation: you could rent a comparable unit for 1,200/mo for a 1br. This compares with the combined expenses of 850/month in assessments, taxes & insurance combined with a 249k mortgage. High assessments and taxes should be a net negative to any ask price.
Realtors’ illiteracy: “One of the only…”. Either it is THE only or it is one of a number — few, many, whatever.
Good luck finding a comparable vintage unit (central air, washer/dryer, outdoor space)in a $1,200 a month rental. Most vintage rental buildings are poorly maintained — apartments feature layers of paint and cheap kitchen appliances.
I’d call this a new unit in a vintage shell. That patio looks oppressive – hopefully another example of poor photography skills…
I think it would rent for $1400
I don’t see what the photographer hoped to gain by taking all the pictures from 2 feet above the floor. You can’t even see most of the patio.
Pete – Maybe the photographer is a midget….er, I mean a little person???
T2.. Good morning..Odd out of all places SPX closed right back down on that 850 number this anonymous blogger seems to like so much. Shouldn’t have taken only 2 days to get back for the retest.
Thing looks like a giant stinky turd. 800 and 780 I can see an argument for, below that.. Strap on the helmets!!
IMO!
Ze –
what the hell are you talking about?!
Ze is talking about the S&P 500. We tested the recent lows and couldn’t get much of a rally off them, so according to the technicians it means doom is in store for equities.
This unit is so appealing and at such a relatively reasonable price, that I’d be willing to add the millwork and otherwise rework the enterior. At least it looks spacious, and could be made into a really beautiful unit. Too bad it would be rather more than the recommended 2.5X my income (after downpayment), or I might bite.
Beautiful building, great neighborhood, YOUR OWN TERRACE, and an in unit laundry together are pretty hard to find.
I really don’t think you could rent a comparable for $1200 a month close to Diversey&Broadway, if indeed you can even find a comparable to this. You can find many one-beds in the vicinity for that rental but they dont compare to this.