Have You Dreamed Of Owning A B&B? There’s A 4-Bedroom For Sale In The Gold Coast: 113 W. Elm

Dec 7 • Gold Coast, Single family homes • 339 Views • 25 Comments

This 4-bedroom vintage single family home at 113 W. Elm in the Gold Coast just came on the market.

It’s currently being used as a 4-room bed and breakfast.

Built in 1896 (or was it 1873???) on a 18.7×71.9 lot, it has 2 deeded parking spaces at 1122 N. Clark.

Each room has its own bathroom.

There is a 20 foot wall of windows in the living room that overlooks a back garden.

The house has a “newer” galley kitchen with stainless steel appliances.

There’s no central air-  only window units.

Rooms range from $129 to $229 a night.

Check out the Gold Coast Guesthouse B&B’s website here.

Is this a deal for a rowhouse in this location?

Jennifer Ames at Coldwell Banker has the listing. See the pictures here.

113 W. Elm: 4 bedrooms, 5 baths, no square footage listed

  • Sold in September 1994 for $205,000
  • Currently listed for $949,000
  • Taxes of $16,730
  • No central air- window units
  • 2 car deeded parking behind the building at 1122 N. Clark
  • Bedroom #1: 18×12 (third floor)
  • Bedroom #2: 18×11 (second floor)
  • Bedroom #3: 18×11 (second floor)
  • Bedroom #4: 9×14 (main floor)

 

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25 Responses to Have You Dreamed Of Owning A B&B? There’s A 4-Bedroom For Sale In The Gold Coast: 113 W. Elm

  1. I’m really surprised to see a SF home, especially one this size, for sale for under $1M in this neighborhood. I’m sure most people would want to put work into it (like C/A), and it doesn’t have its own parking, but it is attractive and spacious, with outdoor space. I never thought I’d see one of these row houses available at this price and I have a feeling it will be snatched up for use as a residence.

  2. The buyer will probably want to replace that spiral staircase with a normal wood staircase, which will be expensive. Still, it’s a good deal considering what similar SF houses sell for around there.

  3. Homewrecker says:

    This is a wonderful B and B. I have housed family members here. The house is delightful.

  4. DCF says:

    The relatively low price obviously reflects the fact that the building doesn’t make for a great SFH, at least not without significant investments.
    The spiral staircase, kitchen on the 2nd floor, overall relatively small rooms, super tiny garden, no central air, no garage etc.: I guess none of that would be acceptable by GC hosuing standards.

  5. Gary Lucido says:

    I can barely take care of myself. I’m not about to take care of guests on a regular basis.

  6. Sabrina says:

    “This is a wonderful B and B. I have housed family members here. The house is delightful.”

    I wanted to check in after seeing the pictures. ha! Good price for that location.

  7. Sabrina says:

    By the way- there will only be two posts again today because of the pathetic inventory. If anyone has any tips send them to me at cribchatter@yahoo.com. (And thanks to the tipster who sent me this property!)

    Looks like December is going to be lame here on Crib Chatter. Fingers crossed that people decided to list in January.

  8. yoss says:

    Not the greatest location for a family – its only 1 block from the troublesome Jewel and Division/Clark stop. I think the price is so low (compared to other properties in the area) because it isn’t in prime GC east of Dearborn. Great location for a B&B though.

  9. Sabrina says:

    “Not the greatest location for a family – its only 1 block from the troublesome Jewel and Division/Clark stop.”

    But they’re going to build at high rise at that Jewel location and they’re shutting down Division/Clark stop for a year or two to renovate it.

  10. yoss says:

    Didn’t know about the high rise – that will be good. Do you know if its rental or condo? I think the shutdown is for one year – anything more and people will be very upset. It will get better for a year and then go back to the way it is currently. Its amazing if you use the graphing tool from the CPD website – there is so much crime within a one block radius of that stop. And it isn’t all pickpocketing either.

  11. sonies says:

    Cool place, can’t believe theres a B&B in that spot, very interesting place and it seems like a good price, probably because to make it a SFH there would need to be significant remodeling done

  12. mh says:

    Are most lots in the GC that small? Agree it is a neat place, and the parking seems manageable (although not ideal). The floorplan wouldn’t bother me at all if you could find away to deal with the air conditioning.

  13. mh says:

    I’d probably set it up as a 2/3 bedroom. Make the bedroom on the second floor the living room and open up the whole floor. Make the 1st floor living room your family room, the first floor bedroom an office / guest bedroom, and keep the top floor 2 bedrooms as is.

  14. Inquisitive says:

    Didn’t know about the high rise – that will be good. Do you know if its rental or condo? I think the shutdown is for one year – anything more and people will be very upset. It will get better for a year and then go back to the way it is currently. Its amazing if you use the graphing tool from the CPD website – there is so much crime within a one block radius of that stop. And it isn’t all pickpocketing either.

    Reason: Section 8 housing/Gov Housing.

  15. sonies says:

    Whats wrong with the clark/division Jewel? They have a great beer selection there in the upper level!

    When I couldn’t find any pumpking anywhere in the city, they had like 2 cases there!

  16. anon (tfo) says:

    “Whats wrong with the clark/division Jewel?”

    ‘troublesome’ must be a new code word. it’s getting more subtle–15+ years ago it was often called the “jungle jewel”.

  17. looking to buy says:

    “Not the greatest location for a family – its only 1 block from the troublesome Jewel and Division/Clark stop. I think the price is so low (compared to other properties in the area) because it isn’t in prime GC east of Dearborn. Great location for a B&B though.”

    Give me a break. That’s city living. If you want safe and leafy, move to Roscoe Village with your kids or some other bedroom community.

  18. nonya says:

    “they’re shutting down Division/Clark stop for a year or two to renovate it.”

    Not shutting down the stop. They’re building the new entrance at Division/Lasalle first, then close the Division/Clark entrance for rehab. Street closures, but no closure of the stop (except maybe a weekend or two)

  19. sonies says:

    Well the new Dominick’s on Division and Sedgewick is way worse, probably serves more of the ‘local flavor’ resident from the Evergreen homes and Cabrini than the Clark/division Jewel does now

  20. H. says:

    11 W Elm is on the market for $1.249 (and has been on for a while with various reductions), which I am sure affected the pricing decision here:
    http://www.zillow.com/homedetails/111-W-Elm-St-Chicago-IL-60610/3858461_zpid/

    I, too, have put family up at this B&B. The owner could not be nicer or more hospitable and it is a lovely B&B so best wishes to her. However, if someone wants to use as a SFR, it definitely needs work throughout. Having been inside, the pictures are very nicely done, plus it is hard to see how the place next door has as much space as it appears to do while having actual stairs. Agree with the suggestion to open up the 2nd level by removing the bedroom, keeping as 2 up and 1 down, but for me, the spiral stairs would have to go. Also, it’s much noiser on this part of Elm than I would have expected, especially in the morning, and one must hope that the Clark/Division situation improves bc this is right on top of it.

    Personally, the place next door seems like a better bet. The hard work has been done, the finishes look nice (the B&B, while wonderful, needs work there plus A/C), and for folks who like vintage, it’s pretty transitional and could have a more traditional feel with some modest changes. Plus, one must note that it hasn’t exactly sold yet.

  21. yoss says:

    looking to buy – I didn’t say don’t live in the city because of the crime. I said this place should command a lower price than safer spots in the same area. How is that unreasonable?

  22. JasonMChicago says:

    Yes I’ve dreamed of owning a B&B and this is wonderful. I bought a lotto ticket so let’s see what happens. It would be a great piece to own.

  23. helmethofer says:

    ‘troublesome’ must be a new code word. it’s getting more subtle–15+ years ago it was often called the “jungle jewel”.

    The SWC of that intersection was always the black-only corner, and it still is. No white people or jews like to go to that corner, the other 3 corners are fine. Nobody can tell me I’m wrong, so don’t try. Chicago is bizarre in that way, you have the Josh and Rachels of the Gold Coast who would never step foot on that corner near that Popeyes.

    PS Sammy’s used to be a seriously dicey spot to get a Pizza Puff, but now that the library and dominicks are there, it’s not as bad.

  24. jah says:

    wow, Helmet. I didn’t know that I wasn’t white. Thanks for clarifying that for me.

    “The SWC of that intersection was always the black-only corner, and it still is. No white people or jews like to go to that corner,”

  25. GDR says:

    jah… glad you finally got the memo. Anyone who questions how rough this Jewel is and attributes it to city living obviously does not live in the neighborhood. Its like our own little taste of 47th street.

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