Photo: Courtesy of John Wyman
List Price: $385,000
The Property: The seller of this very big two-bedroom in Edgewater with wide open east views out over the quiet northern reaches of the park is now asking $25,000 less for it than she paid in 2005.
With a very large living room, arched interior doorways, hardwood floors and crown moldings, the condo has vintage appeal. Even the original phonebox is still intact on one wall. But its two bathrooms are recent, stylish updates. The kitchen is older than the baths but, as you can see in the photo, not crying out to be renewed right away.
The condo occupies half the top floor of the Renaissance, built in 1927 when Edgewater was among the city’s most stylish neighborhoods. It’s the backdrop of photo 3 in this gallery of old pictures from the legendary Edgewater Beach Hotel. The building has lovely gardens at its base that amount to an intimate private park at the edge of the vast public park. On top of the building is a rooftop deck, the stairs to which are right outside this condo, so that it almost feels like a direct extension of this home.
Because the living room faces east over the park and the master bedroom faces west over the city, listing agent John Wyman says his seller often “wakes up with morning coffee and the sunrise out front of her living room, and hangs out in her bedroom in the evening reading a book and watching the sunset.” The condo also has north views.
The gardens and the building’s small size—there are 36 units—make assessments here a little steep: $920 a month. But Wyman notes that the building has been very well cared for as a result, with some large projects undetaken in recent years, and that the board’s financial reserves are strong.
The seller was initially asking $450,000 for the condo when she listed it for sale last September. She cut the price to $399,000 before taking it off the market in December. She changed agents and re-listed it April 22 at a price that represents a six-percent loss after almost eight years of ownership. “We know it’s well-priced now,” Wyman said. “I expect a lot of activity.”
Speaking of activity: there’s a lot of it along Bryn Mawr Avenue, less than a block north of the Renaissance. With a Mia Francesca, a Nookies, a Starbucks and other businesses, the Bryn Mawr Historic District is a nice little corner of the North Side.
Note to sellers and agents: Every other Tuesday, I spotlight recently listed property that is demonstrably well priced. Send me possibilities at email@example.com