Historic McCormick Rowhouse Listed $183K Under 2006 Purchase Price: 925 W. Fullerton in Lincoln Park
We’ve chattered about other Lincoln Park McCormick Rowhouses, specifically those on Belden, but this 5-bedroom rowhouse at 925 W. Fullerton recently came on the market.
Built in 1890, the brick rowhouse is on a 23×120 lot.
The McCormick Rowhouses have been designated a landmark district by the city.
The listing says it has been “restored”.
The kitchen is eat-in with white cabinets and Viking, Bosch and SubZero appliances. It opens to a great room with built-ins.
The master bedroom is on the second floor with 3 other bedrooms on the third level. The fifth bedroom is on the lower level along with a family room and bathroom.
It has central air and 2-car parking.
Yes, it is only 3 buildings away from the Fullerton El stop.
But it is also listed $183,500 under the 2006 purchase price.
Is this rowhouse a deal?
Ian Schwartz at Coldwell Banker has the listing. See the pictures here.
925 W. Fullerton: 5 bedrooms, 3.5 baths, no square footage listed, 2 car parking
- Sold in February 2006 for $389,000
- Sold in October 2001 for $850,000
- Sold in June 2006 for $1,082,500
- Originally listed in June 2008 for $1,099,000
- Reduced and was listed in March 2009 for $996,000
- Withdrawn
- Currently listed for $899,000
- Taxes of $14493
- Assessments of $63 a month
- Central Air
- Bedroom #1: 21×12 (second floor)
- Bedroom #2: 21×14 (third floor)
- Bedroom #3: 16×12 (third floor)
- Bedroom #4: 17×11 (third floor)
- Bedroom #5: 11×8 (lower level)
I am guessing this is right around $300 a square foot. P/SF in LP is all over the board..this is on the lower end. I think this is a safer buy 5 years down the line than $450 P/SF (or more) BTW, I am not talking ultra highend finishes here. I have seen many average to nice homes asking above 400 P/SF and I it left me wondering if a buyer would lose money 5 years later. I am sure there will be a wave of hate thrown my way for this comment…just my thought.
Is the parking for this place also unassigned on the circle, or can you park somewhere closer to your house?
“$300 a square foot”
You think it’s that small (3000 sf), with 3 floors plus the basement? Are you completely discounting the basement and stairs (ie, taking a conservative approach to measuring)?
I love it. The distance to the L isn’t a problem for me, since I lived as close to the Green line in Oak Park. I love place and location. This is what I think of when I think “rowhouse”.
Plus, a full service Dominick’s about 300 feet away…very nice.
I would have liked to see some of the outdoor space, but assuming this is in Lincoln Elem, it’s a great place. I’d want to change out some of the kitchen decor but just because it’s not my taste. I think this will go fast at this price. And there’s little to no chance that I’ll ever be able to afford to live here, even though I’d love to.
these row houses (well, all 18th/19th cent. rowhomes) are too cramp by modern standards, no matter the price or the finishes.
obviously, ymmv.
Man I’d sit on my stoop drinking a 40 and evaluate all the DePaul talent allllllllllll day long with my unemployed friends if I owned this place
“assuming this is in Lincoln Elem”
pretty sure it isnt
“assuming this is in Lincoln Elem”
Nope; ends at Halsted. Oscar Meyer, I believe.
Love the colors. Good neutral selections.
big trouble for the 1117 w armitage listing.
$300K more for what exactly…some nice decking and higher assessments?
“You think it’s that small (3000 sf), with 3 floors plus the basement? Are you completely discounting the basement and stairs (ie, taking a conservative approach to measuring)?”–Yeah, I am assuming it is narrow. Eitherway, I think this is a fair-er price, despite the El and Mayer, than some of the stuff out there.
Row homes on Fullerton seem to go faster than SFH for some reason.
“Yeah, I am assuming it is narrow.”
23′ wide lot (per listing), but without setbacks, so it’s actually wider inside (for the front 30′ or so–check the aerial, there’s a notch) than a similar construction SFH could be on a standard lot. And, being a rowhouse, there’s probably one or one and a half fewer courses of bricks on each side compared to that hypo-SFH, possibly picking up another foot at the front of the house.
Those 21′ room widths on the bedrooms are very uncommon in vintage buildings on standard lots.
If it is larger than it is even a safer buy and should make up for the School District and the EL. There is a 2,400 SF rowhome on Burling listed for 1.3. Something like 530 a square foot. That’s just crazy.
“There is a 2,400 SF rowhome on Burling listed for 1.3.”
And it (2245) is a 2/2.5, so I don’t think the school issue plays. That is nuts, even tho that’s an incredibly nice street and it does have a garage.
sonnies… U made my day with your comment. All that complaining about the noise, only you to see how full the cup is. Oh and may i suggest, jello shots, jager, and a pole.
“a pole”
What’s the Pole for? Is he going to be the dj, spinning the eurotrash musik?
Speaking of ~$1.3mm props in LP, check this one out:
http://www.redfin.com/IL/Chicago/437-W-Arlington-Pl-60614/home/13366380
Was the prior list price the $1.55 I see a couple of places?
Looks, to me, that the only neg is leased parking.
I like these rowhouses a lot, but give me one on the inner circle or on Belden. I would never want to live on a busy street like Fullerton, with the CTA going by constantly just a few feet from my front door. Also, this is probably one of the closest of these rowhouses to the L. Maybe you get used to all the noise after a few years.
“What’s the Pole for?”
leaning against…. DUH
Anon,
That one on Arlington is great, except for the parking. The price is truly right. And that is a wonderful block. I’d live there in a heartbeat.
Where’s the burling link?
“leaning against…. DUH”
I dunno about you, but I don’t like leaning against Poles. I find Swedes much better for that purpose.
“Where’s the burling link?”
Here:
http://www.redfin.com/IL/Chicago/2245-N-Burling-St-60614/home/13350595
“That one on Arlington is great, except for the parking. The price is truly right. ”
If there’s nothing wrong with it, inspection-wise, I could deal with the parking at that ask (assuming they’d negotiate a bit). Under 4%/year over the ’98 price and they’ve put a decent amount of $$ into it, too. If the mechanicals and exterior are up-to-date and well maintained, I can’t imagine it lasting at this price–the $200k(?) drop after 6 weeks is a strong signal.
For that Arlington place, I think I’d waive the Unicorn Criterion of onsite garage parking.
That’s the magic block: just a few doors off of the park…and Lincoln elem (unlike the other side of the street, and the other great blocks north right along Lakeview). Then again, were I buying a $1.3 million dollar place, perhaps I’d be looking to get into Parker/Latin at the k level, instead of waiting and rolling the dice mid-way through elem.
“What’s the Pole for?”
Finding out one’s political affiliations?
And ya, sweeds much sturdier than those polls
“Man I’d sit on my stoop drinking a 40 and evaluate all the DePaul talent allllllllllll day long with my unemployed friends if I owned this place”
doode i owe two rounds for that comment. as i had that same picture in my head (minus the OE 40).
i am a huge front porch “stoop” sitter as nothing is sweeter in the summer. and to have that “view” on a daily basis…..so many one lines came to my head and none appropriate for CC
Anon–I worry about the exterior. If you owned a vinatge place would 1,000 a month be a good maintainence fund? Anonny–not everybody wants to send there kids to Parker. I was driving past around the end of the school day–all the 12 year old kids standing on curb looking scared waiting for the SUV to come pick them up. Compare that to Lincoln and the kids just seemed more free-spirited walking through OZ park on their way home.
“And ya, sweeds much sturdier than those polls”
“I find Swedes much better for that purpose.”
hey but a pole will do it for cheaper and only need one bologna sangwich to get through a shift.
Jason – I agree: I’d rather send mine to Latin.
all said about the stoop and view and sweeeedes i dont think 900k to hear “bing bong fullerton” will still well, or sit well with me sanity.
jest all you want, but in places with class, like Houston, poles come standard with the house. You are all ignorant children!
Nice taxes on that Burling place…
“Anon–I worry about the exterior. If you owned a vinatge place would 1,000 a month be a good maintainence fund?”
That’s why I mentioned the exterior maintenance. (Thru experience) Would want a new-ish roof and recent tuckpointing.
And I wouldn’t rely on a normal inspector, get one who actually worked with masonry or otherwise has bona fides, or get a masonry guy directly to inspect and provide an estimate for anything. If it’s in genuinely good shape, you can go decades without anything significant for the masonry.
“in places with class, like Houston, poles come standard with the house”
Thought Houston was mostly Vietnamese and Guatemalans. Both too short to lean against, really.
Yes that exterior looks a little off in the photos.
Oh, and ps Jason–yeah, about 1%/year should be a sufficient maintenance/replacement fund, if everything is basically up to date when purchased. I haven’t kept exact track, but I think we’re well under that (~40% under, so around .6% or purchase/year) in 10+ years, having had significant tuckpointing/parapet rebuilding, new boilers/water heaters, painting/etc and some new appliances, but with some other maintenance up-coming. House isn’t as pretty as this one, tho.
“Nice taxes on that Burling place”
Gotta low the senior exemption. Sells anything close to ask, it’ll double.
(LIKE)
“Anon–I worry about the exterior. If you owned a vinatge place would 1,000 a month be a good maintainence fund?”
we spent over 30K on exterior two years ago on a vintage house. total tuckpointing, chimney, caulking will be another 30K
“Both too short to lean against, really.”
you aren’t leaning hard/far enough, I guess
“we spent over 30K on exterior two years ago on a vintage house. total tuckpointing, chimney, caulking will be another 30K”
Yikes! Get some other estimates, unless you’re talking about an especially tall or large house, or some special about the brick/stone. We’ve had ~80′ of parapet and three chimneys rebuilt, facade fully tuckpointed and spalling/damaged bricks (100+) replaced in a few separate jobs for under $15k, total.
“Yikes! Get some other estimates”
second that! get many more estimates. even non union masonry guys wont charge that on a house. and caulking another 30k? caulking what? just the chimney?
you dont even caulk the Chimney anymore just caulk the weather proof rubber sheet that goes around the it.
i will caulk your whole house for $500 bucks a 24 pack and a hearty lunch.
“Yikes! Get some other estimates, unless you’re talking about an especially tall or large house, or some special about the brick/stone.”
Yes Anon, unfortunately there are lots of nice, custom things that are $$$; we have had other estimates and some contractors will not even bid on the job! Grinding out the joints is no fun and costly and the custom brick is no longer made.
Groove77, thanks for your offer, perhaps after the tuckpointing…
“unfortunately there are lots of nice, custom things that are $$$”
That’ll do it.
On the other hand, you have a simple facade link on this place, it’s not exactly cheap to do maintenance, but “reasonable” compared to something fancy/unique like you have.
like, not link.
““Anon–I worry about the exterior. If you owned a vinatge place would 1,000 a month be a good maintainence fund?”
See following link:
Mr. Stearns estimates that owners of a newer home that do some work for themselves but contract major work out to others will pay 3.6 percent of the original purchase price annually for maintenance and 4.5 percent if it’s an older home. So if you own a $400,000 home, your costs will probably hit the five figures each year — and may rise with inflation. These expenses will be another 20 percent or so higher if you live in a severe weather area.”
http://www.nytimes.com/2009/09/12/your-money/mortgages/12money.html
“i will caulk your whole house for $500 bucks a 24 pack and a hearty lunch.”
This is a Crankyankers bit, right? What happens if you accidentally touch the black caulk to the white caulk?
These types of posts are the reason I thought you have your roofing company or something Groove. I wanted to clarify that I had nothing against accountants : )
i had nothing against accountants until i learned on CC that they are nothin but a bunch of drunks.
Mm.. Some guys just really enjoy getting their hands dirty. Real man work, to make up for beinng a puss Mon-Fri.
Heck… Have a bad Tuesday – a Sawzall can always bring a smile to ones face.
“See following link:”
I dont think i could spend 7% of purchase price on maintenance annually if i tried, unless i had things done like fresh paint every other year, and weekly lawn service on my city lot, and replaced things at useful life rather than when they actually need to be. He’s clearly a rather conservative planner, trying to shake some sense into a particular client base.
And, even at that, his deferred maintenance fund is around 1.5%, unless you do nothing yourself.
Sawzall as in “Sawzall is a procedural domain-specific programming language, used by Google to process large numbers of individual log records.”? ….kidding of course ; ) But had to google it to see what the heck it is.
miu- try searching home depot or ebay. Different sawzall… Ze aint that weird.
Question for the RE experts here. If I am looking to purchase a rowhome in a 6 unit complex (each unit has an inlaw apt on 3rd floor), what questions should I ask the seller?
“Grinding out the joints is no fun and costly and the custom brick is no longer made.
Groove77, thanks for your offer, perhaps after the tuckpointing”
DD,
Sometimes a really high bid on a job is the same as a no bid, they do that sometimes and bid high and push that you get other estimates.
the grinding out is only time intensive and the grinders and blades they got now are light years ahead of what i had to use.
the “custom” stone is a tricky one as we did a home of archer one time and the owner of the house was insistant that his brick was “special” well the owner charged him the “special” and we ended up getting the face brick from a demolition site of 81st somewhere.
owner was shocked that we were able to get the bricks so fast, my boss told him “he’s got a guy”, i almost fell off the scaffolding when i heard him say that.
now your issues may not be in the face brick so that may be another reason for the higher price.
just keep a head on a swivel, all these contractors know each other and the competition and you will be surprised at the collusion that takes place.
“These types of posts are the reason I thought you have your roofing company or something Groove. I wanted to clarify that I had nothing against accountants : )”
you want to know what put me through college and paid a huge downpayment on my house?
Working in constuction!!!
i used to do many “cash” jobs on the side when not sitting in front of a spreadsheet.
i can put up a deck in two Saturdays (one to build and one to stain) and take home 2-5k for only two days of work.
“Mm.. Some guys just really enjoy getting their hands dirty. Real man work, to make up for beinng a puss Mon-Fri.
Heck… Have a bad Tuesday – a Sawzall can always bring a smile to ones face.”
when i redid any thing in the house let wifey do the demo, she loves to let it out. he mood after is very tranquil and you can just sense it in her aura!
plus there is something dang sexy about a beautiful girl swinging a sledgehammer and holding a crowbar 🙂
gringozecarioca on May 25th, 2011 at 3:54 am
i had nothing against accountants until i learned on CC that they are nothin but a bunch of drunks.
Watch it…
sad drunks too 🙁
sorry Jen.. Bob has said it so it must be accurate and I will stick with that opinion!
Groove… Lucky man!
Never understood those that wont be caught dead doing work outside the house for fear the neighbors might think the wrong thing.
“Groove… Lucky man!”
i remind myself that every time after a day no nonstop nagging, gotta wash of the negative with a positive or it wont work in long haul.
“Never understood those that wont be caught dead doing work outside the house for fear the neighbors might think the wrong thing.”
wonder what thought the neighbor would think. funny how people process thoughts.
i know what my neighbors think when i am working outside. ‘is he going to get drunk and pee in his own bush again by 3pm? or do you think he will fall off the ladder again then get up and only check to see if he spilled his beer and not the blood from his arm?’
both true stories by the way, and one happened more than once
ze, either you aren’t a member of the tribe or you are lying!!!
Yea. I am very tempted to just do everything and just paint the brick white, everything will work and would cost far, far, less.
Sonies… Member of the tribe, didn’t become a doctor, AND own an arc welder.
You have any idea my mothers shame?
Mom sees something I am building, turns to me in morbid disgust and says ‘what are you doin that for, this is why god gave us gentiles’
she’s a treat!
“Yea. I am very tempted to just do everything and just paint the brick white, everything will work and would cost far, far, less”
DD,
i know the frustration, but in the end if you go the correct route you will be pleased at the outcome that will require almost no maintenance for many years to come.
i went the easy route with my attic and still regret it.
Would never own on this stretch of Fullerton, but that’s just me. It’s not even the El noise: it’s the ped traffic, street traffic, trash/litter/vomit, and lack of “green.”
Fullerton east of Orchard is much better.
Nice interiors. But nothing special. By no means a dream space.