To Sell, Do You Need to Paint Your Kitchen Cabinets? 333 N. Canal in the Near West Side

 

This 3-bedroom in Riverbend at 333 N. Canal on the Near West Side came on the market in May 2018.

Riverbend was built in 2002 and has 149 units and parking.

It used to have unobstructed views directly down the Chicago River but the development of Wolf Point with apartments and office space, has impacted some of those views, but not completely.

This 3-bedroom has 2603 square feet with a balcony overlooking the River.

In 2018, it did not sell.

It had a kitchen with what look like dark cherry wood cabinets and blond wood floors.

You can see what it looked like here.

These were finishes that were common during the boom years of 2000-2008.

But while they were “in” then, they are “out” now. Chip and Joanna Gaines are NOT putting in cherry cabinets.

In November 2018, this listing was removed but it came back on in early January, at the same list price, but with new finishes.

It now had “brand new gray hardwood floors” and a “freshly painted crisp kitchen.”

What color were the kitchen cabinets? Gray!

It appears the granite counter tops and stainless steel appliances are the same.

This week in Crain’s, real estate reporter Dennis Rodkin covered a new company in Chicago called Renovation Sells which handles refreshment of properties so they sell.

From Crain’s:

“When Chris Skafidas was getting ready to sell his West Loop condo last summer, it still had the cosmetic hallmarks of the mid-2000s that he’d been planning to update—cherry cabinets, track lighting, blond floors—and he worried they would prolong his Jefferson Street three-bedroom’s time on the market.

About $25,000 later, the look of the condo’s kitchen and master bath had up-to-the-minute looks: tonal gray cabinets and floor, and pendant lights. The cash outlay “paid for itself and more,” said Skafidas, a banking executive who took a job relocation to San Diego.

The condo was under contract 15 days after he put it on the market in September, “when the market was visibly softening,” he said. The sale closed in October at $665,000, well above the sum of the $594,000 Skafidas paid for the condo in early 2017 and the roughly $25,000 spent on refreshing it to put it on the market.”

This 3-bedroom in Riverbend was relisted on January 7 at the same price it had been listed at in November 2018 but with its new finishes.

It was under contract just 6 days later.

Should everyone repaint their cabinets white or gray and go with gray floors?

See more transformations with just minor renovations on the Renovation Sells website here.

Jennifer Mills at Jameson Sotheby’s has the listing. You can see the renovated pictures here.

Unit #2104: 3 bedrooms, 2.5 baths, 2603 square feet

• Sold in April 2002 for $766,000
• Sold in July 2003 for $815,000 (included the parking)
• Originally listed in May 2018 for $1.175 million
• Reduced
• Was listed in July 2018 for $1,124,900
• Withdrawn in November 2018 still listed at $1,124,900
• Re-listed on January 7, 2019 after minor renovations for $1,124,900
• Under Contract on January 13, 2019
• Assessments of $1,510 a month (includes a/c, gas, doorman, cable, exercise room, exterior maintenance, lawn care, scavenger, snow removal)
• Taxes of $16,694
• Central Air
• Washer/dryer in the unit
• Parking is $40,000 extra
• Bedroom #1: 18×17
• Bedroom #2: 12×10
• Bedroom #3: 10×13
• Den: 11×12
• Walk-in-closet: 12×7

 

Source: http://cribchatter.com/?p=25665