From a List of $6.2 Million in 2009 to $2.75 Million in 2011: 2461 N. Geneva Terrace in Lincoln Park
We last chattered about this 6-bedroom 2007 construction mansion at 2461 N. Geneva Terrace in Lincoln Park in May 2009 when the seller was trying to sell it for $6.2 million OR rent it out for $18,000 a month.
See our prior chatter here.
Since that time, a lis pendens foreclosure was filed against the property.
The house has since been re-listed for $2.75 million and is now under contract.
From the current listing pictures, it appears that the kitchen and bathrooms are intact.
The house has a limestone facade and according to the listing, “only the best materials and construction methods were employed during the four year building process of this home.”
The listing also says the house was designed by a European architect for himself.
The listing says the lot size is 4000 square feet.
4 of the 6 bedrooms are on the second floor with the other two in the lower level.
There is also 4-car parking.
Is it a sign that we’re getting close to the bottom when some of the higher priced properties that have been on the market for years are coming back down to earth and now selling?
Ayoub Rabah at Great Street Properties has the listing.
Because it’s already under contract, and hard to see the pictures unless registered, check out the interior in this old listing- when it was still on the market as a rental. See the pictures here.
2461 N. Geneva Terrace: 6 bedrooms, 5.5 baths, 4985 square feet, 4 car parking
- Old house sold in February 2004 for $975,000
- Lis pendens filed in March 2009
- Was listed in May 2009 for $6.25 million
- Or you could rent it for $18,000 a month
- Lis pendens foreclosure filed in February 2011
- Deed changed hands with the bank in June 2011
- Re-listed in August 2011 for $2.75 million
- Under contract
- Taxes of $36,452
- Central Air
- Bedroom #1: 22×15 (second floor)
- Bedroom #2: 12×13 (second floor)
- Bedroom #3: 16×13 (second floor)
- Bedroom #4: 17×12 (second floor)
- Bedroom #5: 12×12 (lower level)
- Bedroom #6: 12×8 (lower level)
Nice, big house located in a nice, big alley.
wouldnt look out of place on mtv cribs
lavender baby, yeah!
Change out the purple cabinetry, warm the place up a bit. Great area, over the top home. Kinda needs the nouveau riche Jack Black character to make it perfect. Melina-rather nice as well…
If it’s still in as good condition as the pictures, then I think the buyers found a nice deal.
lol @ ze and Steven.
I would buy it and then save money to have an architect redo the front facade and all of the overdone ballastrades. It has good bones and space. I think you could tame down some the overly ornate limestone outside (expensive, but worth it) and then replace some tile and cabinets inside.
“I think you could tame down some the overly ornate limestone outside”
I could see going one way or the other.. wrap the whole place in it and it would look more consistent, thereby, by magic, less ridiculous. Then you can airlift it and drop it in Lake Como, or something like that. White pebble driveway…
Miu.. she does say to e-mail her… lol
Congrats, Melina, wanna take me out to dinner?
That facade is an offense to the entire neighborhood.
ze, sonies, my experience is that jenny’s comment most definitely applies there, too.
This is not on the new portion of Geneva Terrace that is basically an alley, near Best Buy. It is closer to Fullerton where it is a legitimate street, though quite narrow. It’s quite out of place here.
” It’s quite out of place here.”
Understatement of the day.
“The listing also says the house was designed by a European architect”
This individual should have their license revoked
http://online.wsj.com/article/SB123783052349616069.html
was going to guess romanian
The side balcony would be a great place to have a live Romeo & Juliet show
Was this architect the same one who designed some of Sadaam Hussein’s “palaces?” Because there’s a distinct resemblance.
Whoever said it doesn’t belong on this street- understatement of the year.
Wow, I love when they say “european architect” without specifying the country of origin. Is he american with polish parents? did he train in european? is he from some god forsaken landlocked corner of europe that spent most of the modern era under the rule of the ottamans?
“did he train in european?”
No, I think he just speaks european.
The “personal touches” (i.e. purple/blue woodworking) had much to do with this drastic price reduction. Maybe the banks should consider this foolishness before lending.
….and it’s very, very Arab.
Turkey is not europe despite istanbul being west of the bosphorus.
” it’s very, very Arab”
it certainly is not Arabesque and I am pretty ignorant when it gets to architecture.
As for European architect, it sounds so stupid. Either an architect is good or he sucks. The country of origin has no bearing on it. It is like when people bring some crappy French wine to the party and think they have done you such a favor…lol
I know sabrina is going to kill me, but it’s monday and it’s on topic (european builders and their style):
http://www.kingwanted.com
turkey is pretty rockin these days…
G, the important take away is that even in bad economic times, some assets -even depreciating ones- can attract multiple bids.
wow Clio that place makes me want to puke. What kind of a tasteless person would buy this thing?
miu – someone with 5 million to spare……
“turkey is pretty rockin these days…”
I agree. It has improved so much in the last 20 years. In fact, hotels and transportation is much nicer than most south European countries, e.g. PIGS.
This house and the King Wanted house are for grown men who like to play dress-up. Like a little girl’s play castle with tea cozy and stuffed animal friends.
how dare you speak ill of the house of lords!!!!
“how dare you speak ill of the house of lords!!!!”
When I think about Conrad Black, I get the sense that he and his wife really just wanted to play dress-up. He renounced his Canadian citizenship in order to become Lord Black of Braidedasshair (or whatever it’s called). That’s the monied equivalent of selling blood plasma for your drug fix.
http://news.nationalpost.com/2011/06/05/conrad-black-treated-fellow-inmates-like-servants-affidavit/
This is awesome. Conrad Black is quite the character.
Before that post I had no idea who conrad black is, but man is he funny
Check out this recent Conrad Black interview with Vanity Fair:
http://www.vanityfair.com/online/daily/2011/08/vanity-fair-exclusive–conrad-black-on-life-in-prison–maintaini
That facade would look a lot better if the flanks of the structure weren’t clad in brick that is visible from the street. Looks VERY chintzy to clad the facade in stone, while downgrading to brick for the flanks. Makes you wonder what’s hiding underneath all that.
The lavender kitchen would have to go. And WHY does a kitchen designer ever position heat-generating appliances like stoves and ovens next to refrigerators? Energy Conservation 101 says insulate the fridge as much as possible and get it away from the heat-producers.
Why exposed brick in the living room?
Really wish that architects who want to do “traditional” would take regular tours of beautiful older homes and look closely at how they were designed, like the way the rooms are proportioned and arranged, and the other details that make so many pre-1930 homes and apartments so beautiful and their modern imitations so sad.
To the buyer – Please bury the cables cross crossing around this house… really it couldnt cost more than a couple grand to do.
It’s kind of sad to think that this architect’s personal dream home got lost to the banks. At least he got a few years to live in the place. The rap-mogul’s house on the Kennedy never even got to be lived in. Same with that dental-mogul’s flooded Taj Mahal in Oak Brook.
I remember hearing that both of Frank Lloyd Wright’s Taliesin complexes were mortgaged multiple times (not to mention the fires and mass-murders). Eventually his estate/wife got control of them both, and the foundation continues to run the place.
“Same with that dental-mogul’s flooded Taj Mahal in Oak Brook.”
that would be Burr Ridge – Joke Brook is a lot classier!!!
I visited Taliesen a few years ago, while cool, it’s falling apart. It needs a lot of capital.
true the government sucks in turkey and they might become another Iran. That being said they are doing much better in terms of growth compared to most EU states so if things continue this way EU should be more than happy to get the turks to bail the PIGS.
The only sign here is to not build a $6 million house on a alley street with $500,000 condos. It is not rocket science!
“The only sign here is to not build a $6 million house on a alley street with $500,000 condos. It is not rocket science!”
Well- if $500,000 condos means a house doesn’t sell for millions- then perhaps NOTHING will sell for $3 or $4 million in Lincoln Park because there are plenty of houses that expensive with $200k condos right down the street.
In fact, in this location- the prices are more elevated than many other parts of LP thanks to the lovely blocks of Arlington and Deming (among others.)
Why is the siding color different than the front facade on this “multi-million” dollar home? Oh yeah I forgot because it’s a fvcking abomination built during the boom by a builder with no class but bubble mentality trying to pass this sh1t off as legitimate residences of truly wealthy people with real discerning tastes.
Seriously if _I_ can tell this is a hack job I’m pretty sure the target market for this POS can, too.
They built a brick frathouse with a nice front facade and thought that would fool the masses like this was 2006.
“# Or you could rent it for $18,000 a month”
LMFAO
Noticed last night that the for sale sign is gone and there were lights on inside the place. Perhaps this place finally got sold/rented.
Yes- this house finally sold.
Sold in September 2011 for $2.75 million.
“Sold in September 2011 for $2.75 million.”
Less than the once-flooded, still uninhabitable, VIlla Taj, which sold for $3.1mm:
http://www.chicagotribune.com/news/local/suburbs/burr_ridge_willowbrook/chi-burr-ridges-villa-taj-sells-for-a-fraction-of-25m-list-price-20130109,0,6670411.story