Reduced $1.945 Million and Now a Short Sale: 1863 N. Bissell in Lincoln Park
This 5-bedroom single family home at 1863 N. Bissell in Lincoln Park has been on and off the market since January 2009.
In that time, it has been reduced $1.945 million.
The listing now says it is a short sale.
Built on a rare oversized lot of 48×125, this 6500 square foot house has a 3-car garage.
But that’s not all.
There is also a 3-bedroom coach house (with its own parking pad) which the listing says would bring in additional money or be perfect for the nanny.
There are no lower level bedrooms in this extra wide house. All 5 of them are on the second and third floors.
The kitchen has granite counter tops and stainless steel appliances.
Is this a steal?
Emily Sachs Wong at Koenig & Strey Real Living has the listing. See the pictures here.
Or see it in person at the Open House, Sunday Feb 27 from 11 AM- 1 PM.
1863 N. Bissell: 5 bedrooms, 4 baths, 3 car garage, 6500 square feet plus a 3/1 coach house with parking pad
- There is no prior sales price- but it looks like it was originally sold in 1999
- Sold in May 2002 (couldn’t determine the price)
- Sold in July 2008 (couldn’t determine the price)
- Originally listed in January 2009 for $3.795 million
- Lis pendens foreclosure filed in September 2009
- Reduced
- Listed in June 2010 for $2.45 million
- Currently listed as a “short sale” for $1.85 million
- Taxes of $21446
- Central Air
- Bedroom #1: 22×22 (third floor)
- Bedroom #2: 11×14 (second floor)
- Bedroom #3: 10×13 (second floor)
- Bedroom #4: 12×11 (second floor)
- Bedroom #5: 13×13 (second floor)
- Recreation Room: 19×36 (lower level)
wow. So far beyond anything I would be looking for but a very cool place.
I don’t understand the kitchen photos. My original thought is that it has the lamest kitchen of all-time (photo 4) for a place that was once priced at $3.8 million, but then look at the bar stools in photo 3, they are different, so maybe photo 4 is not the main kitchen?
it does reference a coach house…
West of Halsted on the worst street in LP on the L tracks.
Wouldn’t live here for 100k.
Do you think they own 4 barcelona chairs or you just see the same 2 from different angles? Trying to piece this together in my head to make sense.
The map on the Realtor page is a little deceiving — it’s on the east side of Bissell so not backing up to the EL. Luckily the red line is still underground/below grade here. Still, probably can hear the brown line.
If it were on Fremont/Dayton and/or closer to Armitage then it could command this price. Still a nice ‘hood though and walkable to Trader Joe’s.
Please, someone, find out what these winners paid for this place! I gots ta know!!
October 99 sale price shown as $500K
In July 2008 the mortgage was almost $2 MM
Stay tuned. Digging a bit further.
No records in MLS. Must have been done outside MLS.
The two parcels together apparently sold for $1mm in 1999.
The LP f/c was recorded in Aug-09. Which was a grand total of 14 months after the mortgage (for $1,973,600.00) was made.
“West of Halsted on the worst street in LP on the L tracks.”
It *is* on the east side of the street, so not really *on* the tracks.
Also, owner is in the RE biz, commercial side. Former trader.
The first floor/main floor is one open room? No thanks. Looks more like a neighborhood pub. Still room to come down/ I just don’t see the “costly detail” or architect finishes for this price point.
Anon, how are you finding out all this information about the Owner. I know you can get name from CCRD. Im trying to find out information about the owner of a property im interested in.
this is a great street, and its on the east side (you know… evens on the west, odds on the east)
Assessor has a shockingly good exterior phot here:
http://www.cookcountyassessor.com/Property_Search/Property_Large_Image.aspx?transfer_string1=http://www.cookcountyassessor.com/Property_Search/Property_Large_images_Output/14324120050000_AA.JPG
Total assessor’s MV for the two parcels is ~$2.3mm. Assessor’s toal SF (which might be accurate for above-grade space) is ~4500.
I think that’s the son of the owner.
“Also, owner is in the RE biz, commercial side. Former trader.”
Someone goto the open house and report back this one is interesting.
gesco: website called blockshopper dot com
“Anon, how are you finding out all this information about the Owner. I know you can get name from CCRD. Im trying to find out information about the owner of a property im interested in.”
It helps a great deal when the owner has (1) an uncommon name, (2) an on-line presence due to being a principal in a private business.
Unrelated to that, current owner also appears (based on tax appeal history) to have been the ultimate owner back to the 2002 transfer.
“I think that’s the son of the owner.”
Nopers. Check the name on the deed, mortgage and LP on CCRD.
The subject owner is a “Jr.”, but the former trader and RE swindler is a “III”. Right?
blockshopper never seems to work when i type in an address, any ideas?
A little close to the train for my tastes and the low ceilings in the basement are surprising considering this looks like new construction. There are number of large SFH on this block of Bissell, so the noise inside these new construction homes must not be too bad. I agree with other posters that the finishes don’t support a $3MM+ price (I don’t get any crown molding at this price?), but if you are looking at SFHs in this price range, you are going to be hard pressed to find this much space in this location for anywhere near the listing price. Plus, the coach house can be a great money saver/maker. If you don’t want to deal with renters, offer the nanny the coach house and cut her salary by 40%. You could probably save $15K per year with the right arrangement.
“The subject owner is a “Jr.””
The mortgage and the F/C name the Trey.
“blockshopper never seems to work when i type in an address, any ideas?”
Look up the name on CCRD, then start googling. It’s a *ton* easier if you have access to non-public databases, but using them for those purposes *might* violate the ToS, so be prudent.
gesco try typing the address and then the word blockshopper in Google….
Anon(tfo): I guess the kids’ bedrooms means it’s “III”‘s house and not “Jr.”‘s. We should probably just stop speculating since IL state documents relating to “III”‘s RE swindling indicate an address in Winnetka. Perhaps there are more people with the name.
This place is fantastic. I’d live here in a heartbeat.
“this looks like new construction”
Nope. The two story part to the left and the 3d floor are new, and the main house is probably a to-the-bricks gut, but it’s not new construction.
There is *no*way* that the beam would have been handled like that in new con–indeed, that looks to be poorly managed for a full gut, but that pic is not great for judging.
oh ferchrissakes – REFCO???? GODDAMNIT
“an address in Winnetka”
That appears, from CCRD, to be/have been Jr’s house.
Picture 4….what is that in those drawers on the island….is that tri-color pasta??? Maybe I should eat some lunch……
“Picture 4….what is that in those drawers on the island….is that tri-color pasta???”
Looked like river rocks to me, but I bet you are right. Wonder what’s in the lower one? Someone go to the open and report back, please!
Was the original structure a 2-flat?
“Was the original structure a 2-flat?”
Dunno, but would expect so. The assessment appeals (back to ’03) all have it as a 2-06–single family residence, 2+ stories, 2201-4999 sf, *over 62 years old*. Which is one reason for knowing it isn’t new con.
We looked at this place. The first floor has a very open floorplan – there is a separate family room and then kitchen / living room / dining room and then a long hallway to garage.
The house was interesting but too much space for us (no kids yet). At $2.5mm it was a tougher sell but at $1.8mm w/ a coach house that could rent for $2,250 per month or serve as the nanny quarters it’s a good deal for somebody that needs the space.
The backyard is interesting for kids because it’s completely enclosed so you could let them out to play w/o worrying as much about them.
I actually like the kitchen a lot.
“My original thought is that it has the lamest kitchen of all-time “
Ok just throwing this out there…
this is a large place that needs upkeep, its now a short sale, i wonder if any upkeep is actually being done now?
Only if Brad lives there.
“this is a large place that needs upkeep, its now a short sale, i wonder if any upkeep is actually being done now?”
at least the backyard is pretty cool.but,oh those taxes.yikes.i realize that many many people have lots and lots of money…but i think i would have a *grabber* when the tax bill showed up.
“those taxes.yikes.i realize that many many people have lots and lots of money…but i think i would have a *grabber* when the tax bill showed up.”
Funny, when I looked at them again, I thought they were low.
And indeed they are: That’s only for *one* of the two PINs. The total tax bill is actually $13,600 MORE. A total of $35,000. With the H/O Exemption.
thanks tfo…thats something.i think even the big homes/big lots on the north shore are cheaper than that.
“i think even the big homes/big lots on the north shore are cheaper than that.”
Dunno about that. First quasi-similar (price and finished SF) place I found in Winnetka is this:
http://www.redfin.com/IL/Winnetka/808-Bryant-Ave-60093/home/13789624
with taxes of $35,800. And the other ~$2m houses are in W are around the same. Obviously diff lot sizes, etc, and the school situation is totally different, but you won’t spend around $2mm in NT (not that you would have to to have something reasonably comparable size wise) and have *much* lower taxes.
I think it’s the same two Barcelona chairs, but it looks like they switched out the bar stools in the kitchen in between shots because the pendants are the same in both. I think they could have done a much better job of the photography at this price point.
This is a lot of house for the money, 3 car garage, nice outdoor space.
I have to admit, I actually like it, but this is Crib-Basher so let’s get back to reality:” Those columms in the basement suck! Ugly countertops in the master!..etc”
http://clientconnect.koenigstrey.com/mlsimages/kns/mrd/202/07737202_3.jpg
“I actually like the kitchen a lot.”
Really? for a multi-million dollar house that was once priced at $3.8 million? It’s nice I agree, compared to 99% of the world’s standards, but *relatively* it looks like a kitchen in a mccrapbox condo, imho. Is this the main kitchen or the one in the coach house?
Did anyone go to the open house?
under contract!!!!