3 Years After Our Last Chatter And Still No Buyer: A 3-Bedroom Rowhouse At 4050 N. Paulina In Lakeview
We last chattered about this 3-bedroom vintage rowhouse at 4050 N. Paulina in Lakeview in March 2010.
See our prior chatter here.
The main discussion focused on whether or not this property was in the Graceland West neighborhood and not so much the price.
Back then, it was subject to lender approval.
It is STILL on the market 3 years later and, from the pictures, looks pretty much the same inside.
The rowhouse is attached to one other unit and was built in 1892.
It has a unique 2-story living room with a second floor loft.
There are also 4 stone baths and a ”partial” finished basement.
The kitchen appears to have black appliances.
Central air, 2 fireplaces and a 2 car garage complete the picture.
The rowhouse is also only about a 5 minute walk to the Irving Park Brown Line stop.
However, the listing now also says that the rowhouse has “minor water damage” and that it will need “some” but “not much” work. (See the pictures.)
It also says “Amazing value here.”
Who’s at fault when a property is on the market for 5 years?
Will this stay listed until the bank finally takes possession (but when? It’s been 4 years since the lis pendens) and re-lists it for much less?
George Patrick at Koenig & Strey Real Living now has the listing. See the pictures here.
4050 N. Paulina: 3 bedrooms, 4 baths, 2 car garage, 3500 square feet
- Sold in May 2006 for $575,000
- Originally listed in December 2008 for $969,000
- Reduced numerous times
- Lis pendens foreclosure filed in February 2009
- Was listed in March 2010 for $575,000 and “subject to lender approval”
- Was under contract in September 2012
- Recently re-listed for $519,000
- Taxes now $8801 (they were $7974 in March 2010)
- Central Air
- 2 fireplaces
- Bedroom #1: 18×12 (second level)
- Bedroom #2: 14×9 (second level)
- Bedroom #3: 13×10 (main floor)