37% Appreciation In 4 Years For This Lincoln Park Vintage 2/2: 1849 N. Cleveland

We’ve chattered about this 8-unit vintage greystone building at 1849 N. Cleveland in Lincoln Park numerous times over the years, especially the larger duplex downs.

But this 2-bedroom top floor unit just came on the market.

It has a unique living/dining/kitchen area that is almost loft-like with exposed brick walls and an exposed beamed ceiling.

The kitchen has maple cabinets, granite counter tops and stainless steel appliances.

The unit also has a private 900 square foot roof top deck.

It has the other amenities buyers look for including central air, washer/dryer in the unit and an assigned parking space.

It doesn’t appear that the building has an elevator, however.

The unit has come on the market 37% higher than the 2009 purchase price at $679,000.

At just 1200 square feet, that is $566 a square foot.

Will this seller get the premium?

Dee Thompson at @Properties has the listing. See the pictures here.

Unit #4N: 2 bedrooms, 2 baths, 1200 square feet

  • Sold in January 2005 for $500,000
  • Sold in April 2009 for $495,000
  • Currently listed at $679,000
  • Assessments of $275 a month
  • Taxes of $8527
  • Central Air
  • Washer/Dryer in the unit
  • Parking space
  • 900 square foot rooftop deck
  • Bedroom #1: 12×17
  • Bedroom #2: 10×12

70 Responses to “37% Appreciation In 4 Years For This Lincoln Park Vintage 2/2: 1849 N. Cleveland”

  1. That couch doesn’t look comfortable to lay on at all. I think some of the spaces very small for the price.

    VA:F [1.9.22_1171]
    Rating: 0 (from 0 votes)
  2. Ridiculous ask….

    VA:F [1.9.22_1171]
    Rating: +1 (from 1 vote)
  3. This will probably fetch more than the 2009 price. I would be astonished to find it get anywhere near what they are currently asking. They seem to overestimate how much the market has improved.

    VA:F [1.9.22_1171]
    Rating: +2 (from 4 votes)
  4. This is a nice looking unit and I love the rooftop deck but $679k is ridiculous! You cannot get nearly $200k in appreciation on a 2/2 from 2009 to now without doing work, even in this location.

    I’d like some of whatever these sellers have been smoking or drinking. I think it may make me a happier person….

    VA:F [1.9.22_1171]
    Rating: +6 (from 8 votes)
  5. Several people have recently said they’re listing their home to test the market. List at high price, feature nice staging, and wait for the gullible buyer. What makes this asking price ridiculous ($550+/SF) here is that the unit and its finishes belong in the $300/SF range.

    VA:F [1.9.22_1171]
    Rating: +5 (from 7 votes)
  6. “This will probably fetch more than the 2009 price. I would be astonished to find it get anywhere near what they are currently asking. They seem to overestimate how much the market has improved.”

    When it’s this hot of a market and properties are selling within days- it seems you’d be at a complete disadvantage to list so high out of the gate. You only get one chance to make a first impression. Even if you were to lower it a week later, you’ve already lost momentum.

    Imagine if they had listed it at $550k? Would probably get $525k and be able to move in 30 days.

    VN:F [1.9.22_1171]
    Rating: +8 (from 8 votes)
  7. “Imagine if they had listed it at $550k? Would probably get $525k and be able to move in 30 days.”

    But these people were smart and bought right in the teeth of the bear, when blood was flowing down the streets and they got a 1% discount off bubble pricing. They deserve a substantial premuim over the 2005 bubble price for their risk taking and market timing, not to mention that a sale at $525k wouldn’t even represent a profit because it would be too low to cover transaction costs. Sometimes I think you know nothing about markets, Sabrina.

    VA:F [1.9.22_1171]
    Rating: +10 (from 20 votes)
  8. too much Restoration Hardware going on: not meeting the “high-end” asking price at all

    VA:F [1.9.22_1171]
    Rating: -2 (from 6 votes)
  9. Damn! I love this unit, especially w/ that roof deck… but $679k seems incredibly high. I’m thinking $560k…

    VA:F [1.9.22_1171]
    Rating: +1 (from 1 vote)
  10. tight interior space. Beautiful roof deck……but this is a ridiculous ask.

    agree with Sabrina….Ask 550 and this would be under contract in days at 525.

    VA:F [1.9.22_1171]
    Rating: +1 (from 1 vote)
  11. I don’t think they will get close to asking. I do think it would sell for $600 though. The market is hot and many people are priced out again due to the lack of inventory, which is sad. Unless you mortgage yourself up into an extremely unpleasant situation, you will miss out on the current market.

    VA:F [1.9.22_1171]
    Rating: -1 (from 3 votes)
  12. It’s a tad small/cramped; there’s no garage; and, while being on the top floor is optimal, the buyers of this place will likely either be childless (with no plans to have one for at least a few years) or have just one kid who’s at least 4 (i.e., capable, most of the time, of handling the stairs), with no plans on having a second for at least a few years, which further shrinks the prospective buyer pool. (And, yes, this unit is intended for people who will live in it, very happily, for 3-5 years, max.) I’d also expect those assessments to go up at least a bit in the very near future (while it’s only 1,200 sq ft, the fees look low, given the size and age of the building, so some extra diligence re: reserves, etc. is in order).

    That said, the place looks very nice (t.v.-over-the-fireplace notwithstanding); it’s a prime location; and that roof deck is pretty awesome. Everyone hyperventilating over the asking price needs to breathe into a bag for a few seconds and recall that it’s just that: an asking price. Assuming that these sellers haven’t put that much into the place (query whether they improved the deck as featured, or made many of the other updates), I’d bet they would be elated to close in the high $500k’s. Assuming that doesn’t happen, and they’re not trying to “move in 30 days,” I imagine they’ll get at least $550k before the flowers bloom.* (Having purchased four years ago, they’ve likely paid enough principal to cover a fair amount of the transaction costs. They’ll get their downpayment back, plus another $30-40k or so.)

    * For those temped to buy this place for $550k, but willing to wait a year, we’d consider doing a brokerless deal on our place for $500k. Make $50k in updates (update the kitchen and add a comparable roofdeck (in addition to an existing balcony)), and you’d have a bigger place with two en suite bedrooms and a powder room, with just as nice/nicer finishes, a garage, and fewer stairs to climb.

    VA:F [1.9.22_1171]
    Rating: -2 (from 6 votes)
  13. Love this unit and street but damn that price sucks

    VA:F [1.9.22_1171]
    Rating: +2 (from 2 votes)
  14. 3N sold in Jul-12 for $430k:

    http://www.redfin.com/IL/Chicago/1849-N-Cleveland-Ave-60614/unit-3N/home/12740141

    Even tho I like most decor aspects of this one more, like top floor much more, and the roof deck is a huge add, don’t see how this place appraises out anywhere close.

    VA:F [1.9.22_1171]
    Rating: +2 (from 2 votes)
  15. “too much Restoration Hardware going on: not meeting the “high-end” asking price at all”

    Huh? I think Restoration Hardware goes perfect here and at this price range.

    VA:F [1.9.22_1171]
    Rating: +2 (from 2 votes)
  16. “Even tho I like most decor aspects of this one more, like top floor much more, and the roof deck is a huge add, don’t see how this place appraises out anywhere close.”

    Agreed. Aren’t the finishes exactly the same and the layout the same? Sorry, I didn’t look to closely.
    What’s a roof deck worth? $25k? The rest is decorating and furnishings that make the top floor show better.

    VA:F [1.9.22_1171]
    Rating: 0 (from 0 votes)
  17. “Huh? I think Restoration Hardware goes perfect here and at this price range.”

    And teh other, always, question: What should they use instead?

    I would want that ~10+ y.o. refrigerator replaced.

    VA:F [1.9.22_1171]
    Rating: +1 (from 1 vote)
  18. I need to start offering quality real estate photography services for less than the competition. I could own the market. This is just unacceptable. How are people realtors selling property in this range getting away with such poor/mediocre photographs?! Or is it the sellers who just don’t know any better?! The photographs make this place look like it’s 700 sq ft.

    VA:F [1.9.22_1171]
    Rating: +4 (from 4 votes)
  19. “Aren’t the finishes exactly the same and the layout the same?”

    Kitchen cabinets are different (I like the one’s in 4 better, but that’s open); some finishes in 4 seem nicer, but need to be a match with buyer, as 3 was more neutral. Brick walls + Timber ceiling v drywall in LR. Bathrooms are diff; open which are ‘better’

    Layout appears to be the same, excpet possible (hard to tell) exact location of entry door, and access to outdoor sapce.

    VA:F [1.9.22_1171]
    Rating: +1 (from 1 vote)
  20. Elliot, the “competition” is doing it for free. I do expect that if you start to pay people to take real estate pictures for them, you’ll have a busy, if not sustainable, schedule.

    VA:F [1.9.22_1171]
    Rating: +1 (from 1 vote)
  21. “What’s a roof deck worth?”

    The right to have one? The cost to complete one? Or the value, to a prospective buyer, of obtaining both the right to have one and a completed roof deck?

    VA:F [1.9.22_1171]
    Rating: 0 (from 2 votes)
  22. “I need to start offering quality real estate photography services for less than the competition.”

    As a homeowner, I paid VHT $150 for 8 pictures. Pretty cheap and they do a good job. Well worth it.

    VA:F [1.9.22_1171]
    Rating: 0 (from 2 votes)
  23. I’d say that 4N should fetch at least $100k more than 3N (4N is more unique, looks nicer, no overhead noise, roof deck). Also looks like 3N had some unfortunate listing timing, etc. I’d bet there are (right now) more would-be buyers of 4N in the low-to-mid $500’s than there are (and/or were, last year) would-be buyers of 3N in the low-to-mid $400’s. I guess I just envision there being more individuals/couples making $200kish, looking to put 10 percent down on a 3-5 year place in this location, who would (after they caught their breath from the stairs) walk into 4N and first be smitten with the ceilings/vibe and then be blown away by the roof deck (an experience I guess the picture will need to fully convey on a day like today), than there are individuals/couples making the same (or almost the same) with the same (or almost the same) downpayment who would walk into 3N and be particularly jazzed.

    VA:F [1.9.22_1171]
    Rating: -2 (from 4 votes)
  24. “individuals/couples making the same (or almost the same) with the same (or almost the same) downpayment who would walk into 3N ”

    3N, at $420k, with ~10% down, would have starting piti of about $2500/month–and FHA financing would be available, as it’s a conforming amount. That’s ‘affordable’ on $100k gross, and *affordable* on $150k (assuming, likely counterfactually, minimal other debt). That’s a really big difference in HHI, as far as %age of possible buyers.

    VA:F [1.9.22_1171]
    Rating: +3 (from 3 votes)
  25. We are starting to see more and more properties going under contract for more than list. However, it will be interesting to see if appraisers are playing ball. I suspect many places that are trying to get premiums above purchase prices several years ago may find themselves running into appraisal issues. The comps need to be rock solid (an underwriters/appraisers definition of a solid comp and a Realtors are on opposite ends of the spectrum). I think it will be awhile before we start seeing any meaningful appreciation. I have a hard time beliving this place will appraise at anywhere near the list price.

    The lack of inventory is starting get problematic though for serious buyers. I’ve got a huge purchase pipeline right now and the story is the same with all the buyers – inventory sucks and we can’t find anything.

    VA:F [1.9.22_1171]
    Rating: +3 (from 3 votes)
  26. “an underwriters/appraisers definition of a solid comp and a Realtors are on opposite ends of the spectrum”

    Crappy inventory over the past year hurts this, too. If nothing genuinely comparable has sold, you end up with irrelevant dreck as the basis for the appraisal.

    VA:F [1.9.22_1171]
    Rating: +2 (from 2 votes)
  27. “We are starting to see more and more properties going under contract for more than list. However, it will be interesting to see if appraisers are playing ball. I suspect many places that are trying to get premiums above purchase prices several years ago may find themselves running into appraisal issues. The comps need to be rock solid (an underwriters/appraisers definition of a solid comp and a Realtors are on opposite ends of the spectrum). I think it will be awhile before we start seeing any meaningful appreciation. I have a hard time beliving this place will appraise at anywhere near the list price. The lack of inventory is starting get problematic though for serious buyers. I’ve got a huge purchase pipeline right now and the story is the same with all the buyers – inventory sucks and we can’t find anything.”

    What does a serious buyer do then when there’s nothing for sale? Just make offers on places not for sale? It’s tough when you can’t see the property.

    VA:F [1.9.22_1171]
    Rating: 0 (from 0 votes)
  28. @ anonny – are you able to tell us more about the condo you might sell? i.e. Neighborhood, what story, etc?

    VA:F [1.9.22_1171]
    Rating: 0 (from 0 votes)
  29. @ Mo – Sure. The condo is Unicorn Criteria 1 (“UC1″) compliant: ELP (Lincoln elem), nobody overhead (two flights up), 2/2.5, balcony/small deck (4 top table and grill), garage, w/d, ac, kitchen/dining is separate from living room.

    We’re really not in that big of a hurry to move, which is good, because as hard as it was to find a UC1 compliant place in our range (no more than $3k/mo total), finding a UC2 compliant place for under $4k/mo (ideally $3,500/mo) is looking to be even harder (UC2: add at least a third bed; separate family/tv room would be nice, but not required; might expand location parameters to include NE GC, greater ELP (i.e., including Alcott) and possibly (but not likely) ELV (Nhorst).

    VA:F [1.9.22_1171]
    Rating: +2 (from 2 votes)
  30. @ anonny – thanks … the UC1 is exactly what I’m looking for at the moment. Also in no rush to purchase, but getting tired of paying my landlord (esp. since my rent has been aggressively increased). I’m not interested in a cookie cutter high rise (such as the Sandburg village units that keep popping up), so there’s not much to choose from at the moment.

    VA:F [1.9.22_1171]
    Rating: +1 (from 1 vote)
  31. Wow, is that a Unicorn Connection in the making? Call Chuck Woolery!

    VA:F [1.9.22_1171]
    Rating: +5 (from 5 votes)
  32. “Wow, is that a Unicorn Connection in the making? Call Chuck Woolery!”

    2013 nonny wakes up to find out he was talking to 2011 nonny.

    Also like how they both need exactly what the other has (ability to sell/desire to buy UC1) but neither is in a rush or hurry.

    VA:F [1.9.22_1171]
    Rating: +6 (from 6 votes)
  33. “What does a serious buyer do then when there’s nothing for sale? Just make offers on places not for sale? It’s tough when you can’t see the property.”

    Um…rent? (and wait)

    Chicago won’t stay inventory-less for forever.

    VN:F [1.9.22_1171]
    Rating: +4 (from 6 votes)
  34. I should have put this in the post, but #4S across the hall sold in 2010 for $528,000. It too has a rooftop deck.

    This building also has outdoor parking. Not sure how that would affect someone looking on a day like today.

    For nearly $700,000 you can get a darn nice townhouse in Lincoln Park with your own garage.

    VN:F [1.9.22_1171]
    Rating: +1 (from 1 vote)
  35. I am actually the realtor and the owner. The problems with sites like this and BlockShopper, etc is that they only list hard numbers and don’t reflect on circumstances of previous sales. Previous circumstances include that when the unit was purchased, it was purchased in a fire sale of a wealthy previous owner that just accepted the offer. It was originally listed at $670,000 and being at the right place at the right time, provided a deal on the unit. There is another unit in the building listed for $810,000. We are satisfied with the flood of showings and requests we have actually received. Thanks for the comments.

    VA:F [1.9.22_1171]
    Rating: -1 (from 13 votes)
  36. “I am actually the realtor and the owner. The problems with sites like this and BlockShopper, etc is that they only list hard numbers and don’t reflect on circumstances of previous sales.”

    Thanks for checking in Dee. What’s the “circumstances” of the prior sale then?

    Was #4S, the sister unit, which sold in 2010 a “fire sale” too? It sold for $528,000.

    The unit on the first floor (which hasn’t sold by the way) is a much, much larger duplex down. It has double the square footage. Shouldn’t it be listed higher if it’s over 2000 square feet? Those first floor units have always sold for a substantial premium over all the other units in the building.

    VN:F [1.9.22_1171]
    Rating: +4 (from 6 votes)
  37. My suggestin is if the price doesn’t work for some, pass on the property and look for something cheaper rather than complain and pontificate about it. We are extremely satisfied with our activity. I sold my prior home at 60% appreciation in 2 years (2 blocks from this property). Best of luck to all in your real estate search.

    VA:F [1.9.22_1171]
    Rating: -7 (from 11 votes)
  38. Sounds like another entitled owner who thinks their property is the best in the world and who will get more than asking price…

    VA:F [1.9.22_1171]
    Rating: +7 (from 9 votes)
  39. “The lack of inventory is starting get problematic though for serious buyers.”

    My opinion is that even though inventory is diminished over a year or two ago, even so, there aren’t enough listings in the price ranges where buyers want to pay. It’s not like the shelves are bare like a grocery store before a hurricane – it’s that there aren’t enough serious sellers who price their homes reasonably. They’re all overpricing their homes and ignoring defects like it’s 2006 all over again. People say that my neighborhood hood suffers from a lack of inventory but that’s true only if you’re looking in the sub-$500,000 range. Above that there are plenty of homes, but buyers aren’t as interested in them. There’s no lack of homes, there is reduced inventory sure, but no lack of homes, just a lack of serious sellers who want to price reasonably. I know a guy who’s been trying to sell his house since 2007 on and off and he still can’t sell it. Priced $50k too high for the neighborhood and he won’t take the price cut. So yeah, there is inventory, just not reasonablel sellers.

    VA:F [1.9.22_1171]
    Rating: +4 (from 4 votes)
  40. “Sounds like another entitled owner who thinks their property is the best in the world and who will get more than asking price…”

    The fumes and chemicals from grooming dogs has gotten to his brain and is making him crazy.

    VA:F [1.9.22_1171]
    Rating: +7 (from 7 votes)
  41. “It’s not like the shelves are bare like a grocery store before a hurricane.”

    You’re wrong HD. But it depends on neighborhoods. We’re not talking about the suburbs here. Look at Portage Park, for instance. That is bungalow heaven. But there are just a handful of properties on the market and they are selling in bidding wars. In Portage Park!

    Want a home for $900,000 in the Blaine school district? Good luck. You’re lucky if one comes on the market every three weeks. And that’s just one to choose from. Good times. How about a house in Lincoln Square under $1 million? I haven’t seen those in a long, long time. Heck, I haven’t even seen a basic 2/2 with parking in Lincoln Square in months. That’s why I haven’t covered any properties there in a long time.

    Looking for a large loft in Printers Row? Good luck.

    Want a 3-bedroom lakeview townhouse with a garage under $500,000? There may be one or two properties. And there are 50 buyers.

    So- no- HD. You are 100% completely wrong about the city market. Even in the non-GZ neighborhoods.

    VN:F [1.9.22_1171]
    Rating: +6 (from 8 votes)
  42. “Sounds like another entitled owner who thinks their property is the best in the world and who will get more than asking price…”

    Why wouldn’t they get 37% appreciation in 4 years? Real estate only goes up.

    VN:F [1.9.22_1171]
    Rating: +1 (from 3 votes)
  43. “For nearly $700,000 you can get a darn nice townhouse in Lincoln Park with your own garage.”

    First, this condo is neither listed at, nor does the seller likely expect to close anywhere near, nearly $700k. Second, please, please, please, do a post on a darn nice townhouse in LP (in THIS part of LP, since that’s what we’re talking about, not some wholly inapplicable hinterland out by Southport, or “walking distance to Trader Joe’s,” or the like) with a garage for nearly $700k. Third, please, please, please accommodate the preceding request. Thanks!

    VA:F [1.9.22_1171]
    Rating: -2 (from 6 votes)
  44. I see a handful of properties in Portage Park for sale.
    I also see a handful of homes for sale in lincoln square. All expensive of course, and inventory is lacking at certain price points, but not lacking entirely. Limited, yes, but not lacking. I stand by my statement, and no I’m not trying to troll!

    VA:F [1.9.22_1171]
    Rating: +2 (from 6 votes)
  45. “I sold my prior home at 60% appreciation in 2 years (2 blocks from this property).”

    Have you ever considered writing a book about how to become a millionaire in real estate? I would buy it.

    VA:F [1.9.22_1171]
    Rating: +7 (from 7 votes)
  46. “My suggestin is if the price doesn’t work for some, pass on the property and look for something cheaper rather than complain and pontificate about it.”

    Who is it that maintains the blacklist? JJJ? jp3? Whoever it is, I have a nominee!

    VA:F [1.9.22_1171]
    Rating: +3 (from 3 votes)
  47. “this condo is neither listed at, nor does the seller likely expect to close anywhere near, nearly $700k.”

    nonny: did you not read what the ‘owner’ wrote? That’s the tone of someone who damn well expects a 98%+ offfer. And, on the intertubez at least, $660k+ is near enough to ‘nearly $700k’ to be unassailable.

    VA:F [1.9.22_1171]
    Rating: +4 (from 4 votes)
  48. “My opinion is that even though inventory is diminished over a year or two ago, even so, there aren’t enough listings in the price ranges where buyers want to pay. It’s not like the shelves are bare like a grocery store before a hurricane – it’s that there aren’t enough serious sellers who price their homes reasonably. They’re all overpricing their homes and ignoring defects like it’s 2006 all over again. People say that my neighborhood hood suffers from a lack of inventory but that’s true only if you’re looking in the sub-$500,000 range. Above that there are plenty of homes, but buyers aren’t as interested in them. There’s no lack of homes, there is reduced inventory sure, but no lack of homes, just a lack of serious sellers who want to price reasonably. I know a guy who’s been trying to sell his house since 2007 on and off and he still can’t sell it. Priced $50k too high for the neighborhood and he won’t take the price cut. So yeah, there is inventory, just not reasonablel sellers.”

    This is going to be a real problem for sellers who refuse to lower their prices. Anything that is not priced appropriately will sit, sit, sit, and buyers won’t even look at that property because it’s viewed as tainted. In a really hot neighborhood, how are properties even going to appraise if there are no comps supporting the high asking prices? Pie in the sky….

    VA:F [1.9.22_1171]
    Rating: +1 (from 3 votes)
  49. “this condo is neither listed at, nor does the seller likely expect to close anywhere near, nearly $700k.”
    nonny: did you not read what the ‘owner’ wrote? That’s the tone of someone who damn well expects a 98%+ offfer. And, on the intertubez at least, $660k+ is near enough to ‘nearly $700k’ to be unassailable.”

    I totally agree. If they get close to $700K for this place, that buyer must be high on drugs or really not care about donating to the seller. No lender would lend even 80% of the value of $689k on that place. Show me the comps that prove such a value in the $680k range.

    VA:F [1.9.22_1171]
    Rating: +4 (from 4 votes)
  50. “Who is it that maintains the blacklist? JJJ?”

    Yes, of course, Zuckerberg has a Facebook, doesn’t he?

    Official Ruling: No offenses at this time, subject to available information. I can’t see the photos or the @properties listing today, though.

    The Official Chicago Realtur Blacklist(TM) generally does not sanction based on measures as subjective as general cluelessness, except as specifically noted in the OCRB(TM). Nor is any of actual or alleged simple mispricing, profit-taking or an argumentative nature sanctionable. Also, participation on blogs or websites is not itself a OCRB(TM) offense, but practitioners have observed a correlation between such participation and certain OCRB(TM) offenses. A high correlation between mispricing and agent-owned properties has also been observed. However, the approach in this case could be correlated with anchoring and other strategic activity. Lauding past successes in a down market without complete information is laughable but not sanctionable. Trying to obscure listing information is petty but not sanctionable.

    VA:F [1.9.22_1171]
    Rating: +7 (from 7 votes)
  51. JJJ: Thanks!

    What about hypocrisy? Telling others to ignore something notable, while kvetching about those noting the notable. That was the (less-than-clear) basis for my nomination.

    VA:F [1.9.22_1171]
    Rating: +3 (from 3 votes)
  52. “I sold my prior home at 60% appreciation in 2 years (2 blocks from this property)”

    Was this during the bubble rather than recently? Did you do significant work to the place? Was it a short-sale or foreclosure?

    “Previous circumstances include that when the unit was purchased, it was purchased in a fire sale of a wealthy previous owner that just accepted the offer. It was originally listed at $670,000 and being at the right place at the right time, provided a deal on the unit.”

    If this unit were truly worth $670k and was previously listed at that price, why did it only sell at $495k? No one else ever thought to come along and offer perhaps $600k, or $575k, or $550k? Perhaps that is because it wasn’t and isn’t worth that much? Seems like a MUCH more likely story.

    VA:F [1.9.22_1171]
    Rating: +3 (from 3 votes)
  53. “What about hypocrisy? Telling others to ignore something notable, while kvetching about those noting the notable.”

    You must not have your copy handy! The prevaling market opinion test set forth in Section 5.5 applies to hypocrisy and similar traits. However, due to the nature of hypocrisy, it’s far easier for the prevailing market opinion test to, as required, establish that a person is worthy of blacklist due to, for example, a more objective factor like dishonesty.

    VA:F [1.9.22_1171]
    Rating: +2 (from 2 votes)
  54. “The Official Chicago Realtur Blacklist(TM) generally does not sanction based on measures as subjective as general cluelessness, except as specifically noted in the OCRB(TM). Nor is any of actual or alleged simple mispricing, profit-taking or an argumentative nature sanctionable. Also, participation on blogs or websites is not itself a OCRB(TM) offense, but practitioners have observed a correlation between such participation and certain OCRB(TM) offenses. A high correlation between mispricing and agent-owned properties has also been observed. However, the approach in this case could be correlated with anchoring and other strategic activity. Lauding past successes in a down market without complete information is laughable but not sanctionable. Trying to obscure listing information is petty but not sanctionable.”

    It’s horrible people can be blacklisted at all by realtors. This really reduces my opinion of many of them. All potential buyers should have an equal shot and an offer is an offer. This is not politics. If the buyer doesn’t even know about an offer because their realtor won’t tell them about it and has blacklisted that buyer, that is horrible. What gives?

    VA:F [1.9.22_1171]
    Rating: 0 (from 0 votes)
  55. “Have you ever considered writing a book about how to become a millionaire in real estate? I would buy it.”

    LOL!!

    VA:F [1.9.22_1171]
    Rating: +1 (from 3 votes)
  56. Dave M, the People maintain and administer the OCRB(TM), for the purpose of blacklisting real estate agents and creating strong disincentives to agents for engaging in unprofessional, incompetent, unethical and other problematic practices. That stuff is all in the introduction. In fact, you would probably be pleased that any action like those you are concerned about to support the Cartel is itself a blacklist offense – Section 8 is quite detailed on these issues. Please report any suspected offenses at this site and we’ll mobilize an instant response team.

    VA:F [1.9.22_1171]
    Rating: +4 (from 4 votes)
  57. gringozecarioca on March 6th, 2013 at 5:02 pm

    “The fumes and chemicals from grooming dogs has gotten to his brain”

    Hmmm.. a new idea for my next career…

    VA:F [1.9.22_1171]
    Rating: +2 (from 2 votes)
  58. Looks like you guys convinced Dee to take this one off the market.

    VA:F [1.9.22_1171]
    Rating: +2 (from 2 votes)
  59. Dee apparently received much too much positive feedback at those numerous showings and became convinced he would be giving it away if he accepted an offer at his asking price

    VA:F [1.9.22_1171]
    Rating: +4 (from 6 votes)
  60. http://www.redfin.com/IL/Chicago/1855-N-Hudson-Ave-60614/unit-A/home/13345442

    This might be a townhouse consideration a street over. Im not seeing much inventory at this price range at all in this direct neighborhood, only a handful of properties at best. Drove around the neighborhood it looks like 2006 all over again…there is huge new construction single family houses going up all over. 2-3 on cleveland, 2 on mohawk, 1-2 on hudson. I know friends that paid close to 600 for mid floor units in much worse neighborhoods during the bubble, and this property with being a top floor unit and having a private roof deck, why not see if someone will pay up? I know they would trade there mid floor unit in lakeview for this top floor unit in a second.

    VA:F [1.9.22_1171]
    Rating: 0 (from 2 votes)
  61. Flo, I definitely think I’d take Hudson over this even at $100k more. It looks bigger and more useable.

    VA:F [1.9.22_1171]
    Rating: 0 (from 0 votes)
  62. Benjamon9, yeah. I havent heard anything bad about those townhouse and when Ive walked by before they look appealing to those with kids bc there is a big gated courtyard ive seen them playing in. Im not sure if I agree with the listing saying that its “highly upgraded” though, looks like it could still use a bit of work. Depends what you looking for, one probably is better for a couple with kids, the other more of a couple without kids or a bachelor.

    VA:F [1.9.22_1171]
    Rating: 0 (from 0 votes)
  63. Thank you flo. 3 bedrooms (all on the same level). 3 baths. A family room. An attached garage. Lincoln school. Sure- it’s a little more expensive. But everything is negotiable. Is there really any doubt?

    Now- if you’re talking $525k- then that’s a different price point and you might come to a different conclusion.

    And yes- anonny- someone might choose a townhouse for $550k or $600k further west in Lincoln Park (and in Alcott) simply because they decide that a garage and family room are more important to them than living in Old Town. You don’t always get what you want in real estate. Sometimes you have to make compromises. We know YOU wouldn’t compromise location, but plenty of others would for other amenities.

    VN:F [1.9.22_1171]
    Rating: +2 (from 2 votes)
  64. And after taking a second look, the townhouse is not as “out of date” as I originally thought.

    VA:F [1.9.22_1171]
    Rating: 0 (from 0 votes)
  65. anonny: What about 1825 N. Howe? It just came on the market at $639,900. Just 2 blocks away and on the same block as a house listed for $10 million.

    http://www.coldwellbankeronline.com/ID/3009440

    3 bedrooms, 2.5 baths, 2400 square feet, garage, Lincoln school district

    VN:F [1.9.22_1171]
    Rating: 0 (from 0 votes)
  66. “further west in Lincoln Park (and in Alcott) ”

    Alcott is north; ‘further west’ of Lincoln Elem is Mayer, which is a whole other thing. Further west of Alcott, in “LP” is Agassiz and Prescott.

    VA:F [1.9.22_1171]
    Rating: 0 (from 0 votes)
  67. “Alcott is north; ‘further west’ of Lincoln Elem is Mayer, which is a whole other thing. Further west of Alcott, in “LP” is Agassiz and Prescott.”

    Yes. Thank you. I meant Oscar Mayer. This is what happens when you’re working after midnight.

    VN:F [1.9.22_1171]
    Rating: 0 (from 0 votes)
  68. 1825 Howe is not a comparable location. In addition to simply being way too far from the park, the vibe over there is just different than it is right in the heart of the OTT or up in ELP. When you’re within a few blocks of North, and west of Cleavland or so, it’s just different.

    1855 Hudson, on the other hand, is interesting. Obviously needs some updaing, and I imagine the “great family room off the patio” feels more like a big den/office than a proper family/t.v. room, but for the location, 3 beds, and a garage, it’s certainly noteworthy. Given what the sellers paid, when they paid it, and the lack of many expensive improvements made, I’d bet it’s closeable in the neighborhood of $675ish, give or take $10k. That makes it much, much more compelling than the TH’s at the Pointe at Armitage/Lincoln. If it were a year from now, we’d be taking a careful look at the Hudson property.

    VA:F [1.9.22_1171]
    Rating: +1 (from 1 vote)
  69. Come on! People. Seems like “Much ado about nothing” to me. ASKING PRICE….. Let me say it, again. ASKING PRICE…. This unit is gorgeous and as for the previous comments about too much Restoration Hardware decor, they are so far off the mark. Personally, LOVE IT, LOVE IT, LOVE IT. It definitely works and makes this unit very sophisticated and elegant. The roof top deck is fabulous and the location of this unit is in a prime neighborhood. Granted there is no garage, but parking on the street is a way of life in this city. My suggestion to anyone that is interested in living in this area is to be your own judge. You will be doing a disservice to yourself if you don’t check out this unit. Maybe! The naysayers are trying to reduce the competition for this unit because they really want it. Hmmmmmm! Food for thought.

    VA:F [1.9.22_1171]
    Rating: +1 (from 1 vote)
  70. Confirmed or obvious use of shills will definitely get you blacklisted.

    VA:F [1.9.22_1171]
    Rating: 0 (from 0 votes)

Leave a Reply


5 + five =