Flip This House: A 5-Bedroom Renovated Colonial in Jefferson Park: 5145 N. Lovejoy
This 5-bedroom colonial at 5145 N. Lovejoy in Jefferson Park has been completely renovated so that it has all the amenities of a “new” house.
The kitchen has new 42 inch cabinets, granite counter tops, stainless steel appliances and marble floors.
There are hardwood floors throughout the first floor.
The basement has been finished with a 12×28 recreation room and a half bath.
3 of the 5 bedrooms are on the second level with the master bedroom having its own bath with double vanity.
The house is on a double lot of 50×147 which gives you an enormous backyard to go along with the 2-car garage. It is also near transportation hubs of both the blue line and Metra as well as the Kennedy Expressway.
This house was bank owned just a year ago and is now listed for $192,900 than the 2009 purchase price.
Will this flipper be successful?
The house has been listed since April 2010.
Boris Rapoport at Smart Investment Realty has the listing. See the pictures here.
5145 N. Lovejoy: 5 bedrooms, 3.5 baths, 2 car garage, no square footage listed
- Sold in August 2001 for $190,000
- Sold in January 2004 for $420,000
- Lis pendens filed in June 2008
- Bank owned as of June 2009
- Sold in August 2009 for $187,000
- Originally listed in April 2010
- Currently listed for $379,900
- Taxes of $5830
- Central Air
- Bedroom #1: 11×17 (second floor)
- Bedroom #2: 10×11 (second floor)
- Bedroom #3: 10×10 (second floor)
- Bedroom #4: 8×13 (main floor)
- Bedroom #5: 9×11 (main floor)
“Colonial?” What I see is a fugly, boxy structure with some elements of a style referred to as “Dutch Colonial”.
I really have to doubt that some new cabinets and surfaces and even an extra half bath make this place worth $200K more than it was in 2010.
At best it’s a comfortable little family home with some nice new surfaces. Here’s hoping some nice typical Jefferson Park moderate-income family gets a decent house for a reasonable price- say, about $235K- and the greedy flipper has to go find a new hustle.
Looks to be about 100K overpriced. Some new finishes but cramped small rooms that would benefit from re-organization. Nice yard space but sure does not have curb appeal
1. Um, it’s still ugly. Really ugly.
2. Those are the cheapest grade finishes and fixtures out there. Literally looks like it was a “what’s on sale at Home Depot this weekend” design scheme.
3. Underneath all that fugly gloss I’m betting the construction isn’t all that great either.
The middle to upper $300’s is the floor on turnkey home pricing due to lack of inventory and easy FHA 3.5% financing. This home would probably sell between $330,000 and $350,000 which translates roughly between $2,200 to $2,400 per month. That’s the entry level monthly payment for turn key rehab in a north or north west side area in the city. Here’s a similar property that went under K in less than a week. Yes it’s priced lower but I also bet that it went above ask given how quickly it went under K.
http://www.redfin.com/IL/Chicago/4640-W-Waveland-Ave-60641/home/13457711
Every now and then a barn pops up on Craigslist. This is one of those times.
Skip.
Not Craigslist. Cribchatter.
For me, on appearance and location, this is overpriced by about $379,900. Maybe more.
It’s a nice neighborhood, near the El and near the highway. It’s what a northwest side neighborhood should be. $379,000 is a bit much but somebody will pay over $325k for this.
Jefferson Park is a great area, that all you green zoners sleep on and are missing out on. Its got Metra, Blue line, a major bus terminal, 90, and 94 RIGHT THERE! The closer you are to jeff park station the more condo’s and apartments there are, get three blocks away its back to mostly SFH.
i always feel that this side of central in jeff park is for the school Beuabian (sp) and the other side is for the people and neighbors.
Ok this street is a very high traffic street. Its a cut through/short cut when there is congestion because of the foster “bend” and stop signs. street parking gets crowded on this street because of the rentals closer to foster.
nobody should pay almost 400k to live in jeff park max 330k for a big house.
Bar57 West is a great hood bar with very very attractive european bartenders 🙂
HD,
the waveland house is a totally different hood with different demographic
“Ok this street is a very high traffic street. Its a cut through/short cut when there is congestion because of the foster “bend” and stop signs. street parking gets crowded on this street because of the rentals closer to foster.”
1. Hate driving thru here from the east b/c of the traffic, tho west of Central it’s a workable alternate to the Kennedy to/from Cumberland.
2. How much closer to Foster can you get? This is 2.5 houses away from Foster.
3. (not a Groove point, but whatever) The lot isn’t rectangular–calling it 50×147 is misleading.
4. Why’d they take out the pool? And the six cars parked next to the garage?
“1. Hate driving thru here from the east b/c of the traffic, tho west of Central it’s a workable alternate to the Kennedy to/from Cumberland.”
its the stupidest street pattern in the history of the world. I had a meeting at Tre Kroner a few months back and left to meet the wife at Ikea during the beginning of rush hour. that stupid curve thing had foster backed up to elston.
My in-laws are in jeff park and i am happy person that i dont need to navigate that curve to get there.
I used to work at the nearby bank at Foster/Central/Milwaukee when it was called Gladstone-Norwood, not Associated. The nabe at that time was very “stable” with long-term occupancy by families looking for a good school district and/or acceptability for city workers who had to stay within the boundaries. I guess the original owners are dying or aging-out of the area and their heirs are trying to fix up and sell the old homesteads for whatever they can get.
Oh, btw, the “Blue Angel” restaurant in the strip mall near this house on Milwaukee Ave. has military-aircraft decor, NOT tributes to Marlene Dietrich. 🙂
“I guess the original owners are dying or aging-out of the area and their heirs are trying to fix up and sell the old homesteads for whatever they can get.”
CTG, I would say this seems like a sad but very accurate picture of the hood.
I used to think of Jeff Park as a good option sometime in the future, should I need an affordable place. . . but my friends and family in the nabe have seen home prices fall off a cliff and crime increase dramatically. Most sadly, what used to be a pretty good school district seems to have slipped into the undesirable (possibly even unacceptable) category, over the past few years.
I would however say that this place is in what I consider to be the best part of Jeff Park– the triangle between the expressways there.
“Most sadly, what used to be a pretty good school district seems to have slipped into the undesirable (possibly even unacceptable) category, over the past few years. ”
Beaubien was #26 in CPS* ahead of “desirable” schools like Disney magnet. So I’m not sure what you’re referring to.
*which might well not be good enough for you, but is better than undesirable and certainly not unacceptable.
SquareD, can you be more specific when you say “crime increase dramatically”. Are we talking 2 homicides per year over 1 or a vast, measurable increase in the amount of vandalism, burglaries and assaults?
I’m hoping to buy a house in either Jefferson or Portage Park but am not sure which is the safer bet. Feedback anyone?
‘I’m hoping to buy a house in either Jefferson or Portage Park but am not sure which is the safer bet. Feedback anyone?”
JP. There’s much better transit access. The schools are better. The adjacent neighborhoods are better.
“I would however say that this place is in what I consider to be the best part of Jeff Park– the triangle between the expressways there”
SquareD,
I differ on that, this house in the better school district but the better nabe IMO is west of central to nagle and from Higgins to the expressway.
The area of this house has rentals that dont attract the best kind for the area (but still better than 80% of chicago).
“I’m hoping to buy a house in either Jefferson or Portage Park but am not sure which is the safer bet. Feedback anyone?”
Icarus,
I would shoot for oriole or edison as the safer bet. but i always say if i worked in the loop i would be living in jeff Park.
portage has seen many of how chiTownGal explains it, “the original owners are dying or aging-out of the area and their heirs are trying to fix up and sell the old homesteads for whatever they can get”. Portage is nice but its not the portage i remember and gang activity is up there. plus a quick drive down irving park rd you will get the vibe from the business that are there. exclude Rudy’s bike shop, awesome place and the great ace hardware on montrose.
Both are equal in their own way altough I think there is a bit younger and native element to JP. I’ve known of a couple younvger english speaking couples with children move to sfh in the last year or two. Portage remains very polish and hispanic.
“Beaubien was #26 in CPS* ahead of “desirable” schools like Disney magnet. So I’m not sure what you’re referring to.”
I am referring to 1)the fact that rankings are not everything, and 2)to the fact that my friends with kids in school there say quality has decreased dramatically in recent years. I notice per , and notice enrollment and low income student % were both up 10% yoy in ’09,
Beaubien? I was thinking of Farnsworth, where some of my fellow bank-workers sent their kids in the 1980s.
I am referring to 1)the fact that rankings are not everything, and 2)to the fact that my friends with kids in school there say quality has decreased dramatically in recent years.
I notice per CEOs report that enrollment and low income student % were both up 10% yoy in ‘09, and that promotion percentage has fallen off recently as well.
“I differ on that, this house in the better school district but the better nabe IMO is west of central to nagle and from Higgins to the expressway.”
Yeah (ironically given the above) I’ve always been focused on the Beaubien area of the hood. I really don’t know the area you mention, so, food for thought for me (but without a good school, not so relevant for me).
“I’m hoping to buy a house in either Jefferson or Portage Park but am not sure which is the safer bet. Feedback anyone?”
I agree with anon and Groove on this– despite the negatives I mention, JP is better hands down. PP has really freaked me out lately (I too know the hood from way back and wow has it changed for the worse) between the foreclosures and the gang resurgence.
The big problem with Portage Park, as I see it, is that like many northwest-side residential neighborhoods it is very CTA-challenged. You have to depend too much on either staying on a bus all the way to downtown, or take the bus to the Metra station at Montrose/Cicero, Addison/Milwaukee or Irving/Kennedy and transfer. Not such a big deal in summer but a real hassle in winter.
Overall, it is a pretty decent rehab despite what the naysayer ‘never done a DIY project in their life, so how would you know Home Depot from jack’ group says.
I wonder who the renovator was?
Pretty good job from a pro-rehabbers’ POV.
My friends live in Portage park about a 5 minute (real time) walk to the Monte Claire Metra station
“Yeah (ironically given the above) I’ve always been focused on the Beaubien area of the hood. I really don’t know the area you mention, so, food for thought for me (but without a good school, not so relevant for me)”
Trust me its eerily quiet at night and kids on bikes everywhere when its not. there is a strip of Rental 3 flats down, i forgot the street (major?), that one of my wifes friends rents. we always get parking and we walk to the park on austin and foster from her place. each and every time we end up talking to someone in the hood for like 30 minutes. people walking dogs, stroller, riding bikes with thier kids. its crazy people there are so friendly, just say hi and they stop and talk to you!
“Overall, it is a pretty decent rehab despite what the naysayer ‘never done a DIY project in their life, so how would you know Home Depot from jack’ group says.
I wonder who the renovator was?
Pretty good job from a pro-rehabbers’ POV”
REALLY?
I hate the kitchen, with that busy diamond patterned backsplash wall, that matches the floor tile, with that matte finish and the border with the diamond field in the middle
The bathrooms are ugly, the mirrors are cheap and chintzy. They went tile crazy. I’d be ripping all that out.
Double set of sliding doors to the first floor deck in back? What’s up with that??
It may be “pretty good”, but it’s not in any way, shape, or form, $192k worth of “pretty good”.
If you go with french doors that would put you into the $500k category.
I am saying, for the asking price of this particular house (do you know the cost just to finish a basement?) it is a pretty good reno job. I could push it a bit and say it might be a little ‘cheesy’ with the tile…MAYBE…but even then, that is a big expense for the amount that has been installed. Do you see that grade of finishes in a seperate laundry room, of that size, at this price point?
I have to stick to my comments about the reno, for what you are getting, it is well done….and I take back the cheesy comment if the owners are reading. Design element aside, it is nicely done.
“do you know the cost just to finish a basement?”
Depends hugely on the condition of the basement, no? And then, if they did it the right way underneath. I’d want to know that it was done right, which it often is not.
Sure this house is not going to show up in Elle Decor, but the rehabbers did get permits-which cost a lot ( mostly for the drawings), but should make potential owners more secure that structural and mechanicals were inspected before walls were closed up……
dahliachi,
How do you know if they got permits? or really where can i go to find this info out?
I can say i never got a permit for any work i did on my place, i never got a permit for anything on any place i worked on.
does anyone know if the no permits will hurt me if/when i sell?
Groove77, I think permits are public record so you can find them. It’s also generally a good idea to get a survey if you buy a rehab home…you wanna make sure they didn’t take a few inches from your neighbors which can come back to bite you later.
westloopelo, I actually saw this house in person. I don’t think they took any shortcuts, but they certainly didn’t go the “let’s spare no expense” route. Which is understandable all things considered.
Groove, just go here and lookitup:
http://data.cmap.illinois.gov/chicagoareahousing.org/GetPermits.aspx
I would be interested in others’ opinions on how much it hurts not to have permits as well– I was surprised when we bought our place that prior owner had obtained permits for all kinds of DIY stuff, but never brought that up.
My understanding has been if it’s minor stuff, silly to get a permit, but if it’s anything you’re adding, or any major change (especially anything visible), best to get the permit. Dang they’re expensive though. . .
“I think permits are public record so you can find them. It’s also generally a good idea to get a survey if you buy a rehab home”
Icarus,
cool, thank ya.
could i ask why you were looking here in this are instead for west of central in jeff park? if its for the school i 100% understand.
“It’s also generally a good idea to get a survey if you buy a rehab home”
Generally, if you are getting a mortgage, you have to have a survey, rehab or no.
SquareDee’z,
thanks for the website!!!!!!!
“or any major change (especially anything visible)”
is adding dormers considered major (or visable)? i didnt get a permit for that.
what about finishing a basement and adding a full bathroom down there? i didnt get a permit for that either 🙁
“is adding dormers considered major (or visable)? i didnt get a permit for that.
what about finishing a basement and adding a full bathroom down there? i didnt get a permit for that either ”
Both can get you in “trouble” if the assessor or building inspector somehow find them. Not sure if it’s technically a mandatory disclosure issue, but that’s a possible problem, too (and I know that it is common to not disclose).
I wouldn’t want to appeal my taxes while the assessor’s records show X square feet and 1 bath while you have unpermitted X+500 sf and 2.5 baths.
Most buyers will be happy to have the extra space/amenities w/o a higher tax bill. And, so long as they buy w/o “knowledge” that you didn’t get permits, then it’s not their problem except if they need a permit in the future and possibly need to fix things to pass inspection.
Anyway, the common course is the Repair/Replace permit which allows the (licensed) contractors to self-inspect. Cheaper, faster, and no city officials looking on the floor for benjamins instead of at the work done.
Again, would be interested in others’ experiences. . .
From what I’ve heard, “finishing a basement” might be considered just repairs (assuming you didn’t run any lines or pipes etc.) so likely won’t get caught.
But I do know that plumbing w/out a permit can be a Big Deal– they can make you take out the addition. And the problem is this can be caught just by looking at the R.E. listing– inspector notices last time the home was sold it had 2 baths and now it has 3, bingo, you’re on his list (my retired city inspector neighbor tells me horror stories of this).
Dormers I dunno. . . I would suspect possible issue but not as big a deal as the plumbing.
Still, dunno if I would do anything proactive. You’ve already saved fees and taxes, might be the best course to try and sell and hope it doesn’t come up (but it might be hard to do that ethically depending on disclosures and how your place is represented).
Anon, have you heard this business about insurance companies being able to deny homeowners claims due to work done w/out a permit?
I’ve heard people say that, for example, Groove’s insurer could deny a claim for damage to his roof, because of his permit-less work in the basement. Unrelated issues, but still provides an out for the insurer.
That would be my biggest fear, aside from issues selling.
“I wouldn’t want to appeal my taxes while the assessor’s records show X square feet and 1 bath while you have unpermitted X+500 sf and 2.5 baths.”
good that you mentioned that cause i forget sometimes that assessor has me at 1 bath and 846sf (or is it 816sf? i need to look again).
so CC’ers remember later when we all compare tax bills this fall and when i compare my taxes to a place on CC, that mine are skewed.
“Groove’s insurer could deny a claim for damage to his roof, because of his permit-less work in the basement”
and the attic and dormer permitless addition may screw my on the roof claim?
do insurers even look that hard into things, well here is to the hope i never have to find out!
The fact that there is no way to get from the southbound Edens to the westbound Kennedy (or conversely the eastbound Kennedy to the northbound Edens) requires that a car to drive through some portion of Jefferson Park. The railroad tracks further screw with the streets, especially Cicero Ave.
There are shortcuts routes known to the locals. But the fact that you have through-traffic on your local streets (people driving to the northern suburbs from O’hare) means that your quality of life will suffer.
There are many nicer areas on the Northwest side that avoid this city-planning screwup. Look for the stretch of houses tucked in to the Cook County Forest Preserves. You could get a house right on a golf course if you know where to look.
And I agree with Groove about the attractive European women on the NW side.
“Look for the stretch of houses tucked in to the Cook County Forest Preserves. You could get a house right on a golf course if you know where to look”
I actually think the ones on caldwell are consider Niles. Old Edgebrook, FOR BEJEBUS KEEP THAT QUIET PLEASE!!!!! i need the priced to stay “considerable” low there. the Forest glen side i can care less about, and you can get a good brick house for like 250k-350k off the forest preserve.
Yes, I always wondered why there’s no cloverleaf (or whatever) around Montrose Ave. to facilitate movement between I-90 and I-94. This goes back to the Daley Sr. administration and I imagine that it was to the advantage of Somebody to NOT do this.
Groove77,
I work downtown so walking distance to subway or metra is ideal. Edison Park might be an option but it is a bit further out than we want to live for commuting to work purposes.
“I work downtown so walking distance to subway or metra is ideal. Edison Park might be an option but it is a bit further out than we want to live for commuting to work purposes”
oh i didnt mean that far west i was talking about a block west of central off higgins still in jeff park, see my above post for why;
http://cribchatter.com/?p=8914#comment-79352
its a whole other world from this house and its about a 1/2 mile to jeff park station!!
also look into MayFair area its still nice and you can walk to the montrose stop.
“Anon, have you heard this business about insurance companies being able to deny homeowners claims due to work done w/out a permit?”
Eh, no personal experience, but I’m sure it happens. Some adjusters look for any out, some don’t. And it would depend on the cause of the claim–it’s hard to assert that if you did unpermitted work in your basement and a tree fell on the house, there’s a basis for denial, but work on basement + work on roof and claim for basement flooding? Maybe. Unpermitted electrical work and an electrical fire? Definite possibility.
Not in my experience. Had a water pipe burst in the finished (without a permit) basement and I had no problem with the claim. They paid for the plumbing and drywall replacement involved in restoring the damage.
“do insurers even look that hard into things, well here is to the hope i never have to find out!”
Square D – Thanks for the link. Although looks like this only goes through 2004. Anywhere you can see permits in the past 6 years?
Onlooker, y’know, I hadn’t noticed that.
I know you can check status of current permits here:
http://webapps.cityofchicago.org/buildingpermit/search/agreement.htm
They say that goes back 18 months.
I dunno where else you’d go (besides city hall). I know you can search Everyblock, but dunno if I’d trust it.
Also, Groove, just saw this on when you need a permit:
http://www.cityofchicago.org/city/en/depts/bldgs/supp_info/learn_when_a_permitisneeded.html
Pretty shocking.
SquareD,
Dude just saw your post the permits are crazy, but look at it this way at least they are not enforced hardcore like in small towns like Norridge and Harwood Heights.
I new about the hot water heater permit, still didnt get one. Really i need a permit to build a deck? i need a permit to rebuild a porch? screw those bastardz
“Security Alarm – installation”
really this too?
i may be really screwed when i sell.
At a quick glance i am missing 7-8 permits
I actually live on this street (Lovejoy) . It is very close to the police station – very nice to feel secure. Very little traffic actually goes down lovejoy – but parking can be a challenge on weekdays but in saying that not a huge problem. It’s a great place to live – quite, beautiful neighborhood. Yes the rentals are a few but never any trouble for locals. But yes I think the house is over priced – it’s not a brick construction – just brick clad.