Over 4+ Years Later and Still No Sale For This 3-Bedroom: 919 W. Wisconsin in Lincoln Park

We’ve chattered about this 3-bedroom at 919 W. Wisconin in Lincoln Park several times over the last few years.

Our last chatter was almost a year ago, in March 2011. Read it here.

The property hasn’t been reduced since then. But, if you’ll recall, several lis pendens foreclosures were filed on the property in 2010.

Remember, the average time for the bank to take possession in Cook County is about 18 months.

This property has a unique outdoor space with multiple decks, a green house and gardens totaling 1144 square feet.

It also has 3356 square feet of living space on two levels, including a lower level recreation room.

The kitchen has stainless steel appliances. There are atill no pictures of the bathrooms in the listing.

Built on a 25×73 lot, the property has windows on 3 sides, central air and 1-car garage parking with a parking pad for a second car.

There are listings like this one (i.e. properties on the market for 4 or 5 years) in neighborhoods all over the city.

Is this just another example of all that is wrong (or right- depending on your point of view) in the Chicago real estate market? 

Jennifer Ames at Coldwell Banker still has the listing. See the pictures and a floor plan here.

919 W. Wisconsin: 3 bedrooms, 2.5 baths, 3356 square feet, 1 car garage

  • I couldn’t find a prior sales price but looks like it sold before 1989
  • Originally listed in October 2007 for $1.25 million
  • Reduced several times
  • Was listed in December 2008 at $999,970
  • Reduced
  • Lis pendens foreclosure filed in July 2009
  • Was listed in December 2009 at $935,000
  • Reduced
  • Lis pendens foreclosure filed in May 2010
  • Lis pendens foreclosure filed in June 2010
  • Currentlystill  listed at $900,000
  • Assessment of $182 a month
  • Taxes of $3808
  • Central Air
  • Greenhouse
  • Multiple decks – including a walkway that leads over the walled in garden
  • Bedroom #1: 11×18 (second floor)
  • Bedroom #2: 11×12 (second floor)
  • Bedroom #3: 10×12 (second floor)
  • Family room: 18×15 (lower level)

43 Responses to “Over 4+ Years Later and Still No Sale For This 3-Bedroom: 919 W. Wisconsin in Lincoln Park”

  1. Positive comment:
    The fact that the property is in Lis pendens foreclosure means that the owner himself won’t be showing the property…which is probably a good thing. IMO He was too vested in the property and made it difficult for potential buyers to picture the property as their own.

    Neutral comment:
    Wildcard variable if your 1/2 of a condo association

    Negative (maybe) comment:
    Dang. The Jennifer Ames team has a good photography department. The photography is so good, its to the point of being deceptive. For example, the condition of the property can be characterized as ragged and the basement photos are shot from a lower perspective to disguise the low ceiling height.

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  2. I actually like this property. I don’t think it’s that overpriced either, if this were a different market. There just aren’t enough buyers out there who are interested in $900,000 properties. This property, with its defects (one car garage, dungeon basement, old kitchen w/ SS appliances that look like grandma with a park of fishnet stockings!). Regardless, it’s a unique cool property and I would consider it if I were at a different stage in lfe.

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  3. The taxes are $3,808. What are the chances they get raised after the next sale is complete? Or does it not work that way?

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  4. CS numbers came out today and they look great! buy now and be priced in forever!

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  5. @HD

    Have you seen the property in person? You didn’t think it needed a bit of work?

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  6. Sad_at_Plaza440 on January 31st, 2012 at 9:00 am

    Uh oh, is this the return of Bizarro HD? An obviously tautological statement like “I don’t think it’s that overpriced either, if this were a different market” makes me worried …

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  7. IDK if i am on board with the sidewalk frontage on two sides. i really would hate to be eating dinner then seeing and hearing clearly a conversation of a couple walking, and have that repeated throughout the dinner.

    or give the twig and berrys and adjustment (hand in inside) only too look up out my window to have two 20 something ladies stare right back at me and i end up being the perv on bisel and Wisconsin.

    summer day you can hear the train on bisel, dont know what it would be like with the window closed but open you will hear it

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  8. When I was there, train noise wasn’t bad.
    1st floor – Its muted with the doors closed enough so that you would end up not noticing it.
    I don’t recall how loud it was in the master bedroom since there is more glass and less wall.

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  9. “or give the twig and berrys and adjustment (hand in inside) only too look up out my window to have two 20 something ladies stare right back at me and i end up being the perv on bisel and Wisconsin.”

    That’s definitely going in the wiki and I’ll let you provide the image!

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  10. The original list was nuts, even for the time (had they priced right at a mil, I bet they would have sold). Today, it’s going to be next to impossible to find somebody in the $900k range who’s right for this place. There are better family options, better DINK options, and better high roller single person options around town. For three beds, there are a couple of places in this range on LPW, not to mention the place on Belden recently featured on CC, that are much more desirable. And what’s $900k buying in Lake View these days?

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  11. I think the lot itself is worth about 600k right now. I think this would be a good 5 yr investment – not joking.

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  12. I saw this home. The basement is not “livable” space. It’s a basement. Yes, the place needs a full drywall in rehab. New kitchen, bath, floors, paint etc. The outdoor areas also need to be spruced up. Train noise was not noticeable if I recall. The taxes are cheap. I can see this going for the list price if it were move in ready.

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  13. 900k but with one car garage?? Bwahahaha another moron stuck in bubble mentality trying to get away with positioning his property in a higher price tier but without requisite amenities of said tier. 740k.

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  14. I’m sure it needs work. but it’s a cool unique home; not your cookie cutter 3,000 sq ft ‘luxury’ mansion. I don’t know if it’s necessarily great for raising a family, but there are so many different lifestyles other than ‘married with 2 kids and dog’ especially in today’s world, and especially so in wealthy urban centers. It has a cool outdoor area, it’s a unique property. In times past it was a $900,000 property and I don’t mean 2006 either. but it needs work and the cost to update is too great for the $900,000 price. This is not bizarro HD. I don’t have to hate on every property just for the sake of hating. There are honest to goodness legitimate properties I like. This is one of them.

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  15. “I think the lot itself is worth about 600k right now. I think this would be a good 5 yr investment – not joking.” Sure, if the other unit owner(s) will sell too.

    I agree, HD, it is a cool place. I’m just having a hard time envisioning a would be buyer.

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  16. What’s with the $3808 taxes — that can’t be right can it?

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  17. “I don’t think it’s that overpriced either, if this were a different market.”

    Isn’t that true of almost everything posted here?

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  18. can someone elaborate what and how there is a tie to an HOA?

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  19. I quite like the place. I think it would take closer to 800k to move it, given those kitchen and bath renovations.

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  20. No. Many properties here, especially those listed higher than the 2007 price, are priced too high, even for a different market! This property is just chasing the market down. I like the property though. It’s not perfect by any means and the one car garage is a bummer, but it’s nice.

    “DZ (January 31, 2012, 9:46 am)

    “I don’t think it’s that overpriced either, if this were a different market.”

    Isn’t that true of almost everything posted here?”

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  21. HD – Your comment about “grandma wearing fishnets”was too funny – and true!
    This place needs some serious updating to command a 900K price tag.
    I find it unbelievable they’ve only dropped the price 35K in 3 years.

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  22. “Many properties here, especially those listed higher than the 2007 price, are priced too high, even for a different market!”

    Well, “many” is a great weasel word. Show me anything this month that is priced too high for the peak of the bubble (even ignoring different hypothetical ultrabubbly markets I could imagine).

    More constructively, this looks alright for our NW side fanciers, no?

    http://www.redfin.com/IL/Chicago/6958-W-Hobart-Ave-60631/home/13507464

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  23. DZ not recently there aren’t a lot but there are plenty on the market.

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  24. Homedelete is acting like the resident monkey again. Damn your dumb sometimes dude.

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  25. Bob: HA! Am I not allowed to like a property once in a while?

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  26. Dammit DZ, now it will go under contract before I can talk the wife into it

    “More constructively, this looks alright for our NW side fanciers, no? “

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  27. HD, This isn’t the type of property you’ve ever shown interest in. This is more your speed

    http://www.redfin.com/IL/Chicago/5204-W-Montrose-Ave-60641/home/13478293

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  28. Not a poseur property masquerading as a legitimate 1%ers property such as this one. Its a great prop at the right price..and 900k-1.25MM ain’t it w/a 1 car garage.

    Thing about rich people is they both like to have their own garage spot for their respective luxury cars.

    This

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  29. property was never designed for rich ppl. Its a hack job appeal to them by an owner trying to monetize the areas gentrification.

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  30. “can someone elaborate what and how there is a tie to an HOA?”

    It’s only the east ~50% of the building. Check the floorplan–there’s a second garage spot shown, and no windows on the west side.

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  31. “HD, This isn’t the type of property you’ve ever shown interest in.”

    Move along, HD, move along.

    “now it will go under contract before I can talk the wife into it”

    That gazebo was built for nightingale, not the firecracker.

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  32. “It also has 3356 square feet of living space on two levels, including a lower level recreation room.”

    Why do we uncritically repeat these fantasies? Look at the floorplan–can we agree that the “main level” is the largest for interior space? Can we also agree that the main floor living space is no larger than 21×50? So, the largest floor is not more than 1050, the 2d floor is about 700 and the basement about 900–there’s *NO* way it’s over 2800 interior square feet, and that’s counting the “greenhouse”.

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  33. Bob, DZ: I Like it. I said it’s overpriced. Sorry I’m not ripping on it. Redo the inside like Dwell. Nice garden with potential. Green house is unique. In a dense urban area. It’s unique. It has flaws. WTF is your problem?

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  34. “More constructively, this looks alright for our NW side fanciers, no? ”

    look at the pricing history and realize why it was never on groove’s radar.

    it was 499k last week and i want to say 799k at one point

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  35. “It’s only the east ~50% of the building. Check the floorplan–there’s a second garage spot shown, and no windows on the west side”

    been by here and the second garage is legit connected to the whole garage, which IIRC was just two small doors.

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  36. also again i dont like the main floor being ground level. which is probably why the basement has been said to be low from those who have toured it.

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  37. “it was 499k last week and i want to say 799k at one point”

    Yeah, I remember it being crazy high at one point. I’m sure it feels cramped upstairs, maybe the (unpictured) baths are old, but it is a big lot in old norwood. $399K list seems about right if there’s nothing major lurking. The listing photos are dreadful.

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  38. http://www.chicagotribune.com/business/breaking/chi-caseshiller-20120131,0,5689134.story

    “Chicago home prices slide again in November, to 2001 levels”

    We’re only a hop, skip and a jump away from 1999 pricing for everyone!

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  39. I’ve toured this place. This unit comprises greater than 50% of the 2 unit association, but you need approval from both owners to do anything. You would have right of first refusal on the other place if/when it came up for sale. Owner made it very uncomfortable as he is/was way too invested in the property, followed you around, told you about how his kids played here, the “vinyl” floor in the kitchen is some super highend product imported from Europe, etc. My wife and I ran out of there. As others have noted, this needs either a full gut rehab or a very significant remodel (not sure about the state of the mechanicals). The main living space is actually decent and ceiling heights on both floors are good. Basement ceiling is maybe 6 feet at its highest and is less than that in other areas. The owner had suggested that an exchange student had lived down there at one point – I’m guessing he returned to where he came very quickly after knocking himself silly time and again. I would consider it storage space. Despite it being connected to the building, you need to go outside to access the garage. The garden and deck over the garage are nice space, but need some work. If this place was updated, I think the ask would be reasonable. However, in its current condition, this needs to be below $700K so someone can spend $200K and make it very nice.

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  40. saw this a couple of weekends ago. it’s TINY. the basement is Froddo Baggins tiny. it was hard to keep a straight face watching my6′ husband duck to walk through some parts.

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  41. Meemo – did the owner follow u around too? The sellers RE needs to have a serious talk with their client. Whenever you’re selling a place and someone’s coming to look- make yourself scarce!

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  42. funny comments seem to happen whenever this one is featured. this from the original thread is one of my faves

    “I was looking for quite some time for a new home for my wife and our new baby. When we visited this place we fell in love with it. (I never thought that a guy can fall in love with a house…) Finally a property with quality construction and great thought. I was about to make an offer when I was transferred to New York. Whoever is going to buy this house will be very fortunate. Places like this one don’t come on the market very often. It has everything one needs! What a buy!”

    the orig website seems to remain
    http://www.919westwisconsinstreet.com/

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  43. Many complain of the owner walking the showing and adding the history of the place.

    I would actually like that aspect tho hear owner say how something came about and its intended purpose, and then its actual use. me personally it would help sell the house to a person like me.

    that said the main level being ground level and this association fee (HOA) thing i cant get passed

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