A 3-Bedroom Single Family Home in the Bell District for Under $350K: 3642 N. Artesian
This 3-bedroom home at 3642 N. Artesian in North Center recently came on the market and went under contract almost immediately.
Just by the pictures you would have to wonder why as there was no granite, cherry or stainless steel appliances to be seen in the bungalow home.
But the listing says the house is in the highly coveted Bell School District.
Listed at $335,000, it would be the cheapest home in that school district by a long shot.
Built in 1919, the bunaglow is on a 30×124 lot. It has a 2-car garage and central air, along with a semi-finished basement.
Was this a deal?
Lynn Pufpaf at Baird & Warner has the listing. See the pictures here.
3642 N. Artesian: 3 bedrooms, 2 baths, no square footage listed, 2 car garage
- Sold before 1986– listing says it is a “long time owner- ready to move on”
- Originally listed in August 2010 for $335,000
- Under contract
- Taxes of $4144
- Central Air
- Bedroom #1: 10×10 (first floor)
- Bedroom #2: 10×9 (first floor)
- Bedroom #3: 16×12 (second floor)
The seller was reasonable in the asking price and the buyer got a deal. Sure, the place needs work, but that’s reflected in the price. And it seems like a liveable place now that can be updated over time, instead of a total wreck in need of an immediate gut. Cheaper than many 2/2 condos featured on here, and in an increasingly desirable hood (albeit on the edge.)
What a 60’s time warp. Priced well and livable until new owners feel a need to upgrade. I suspect the the house is “sound” too.
Cheapest by far Sabrina?
http://www.redfin.com/IL/Chicago/3619-N-Campbell-Ave-60618/home/13453136
Deal here is relative. The lot values are low because I don’t think there is anyone in North Center / Bell who really considers this side of Western to be part of the neighborhood.
I wonder what the upstairs looks like. I do not think there is a pic of it.
I’m just wondering how much headroom you would have up there.
I wish I still had an arch between my living and dining areas the way this home does. Mine was removed at some point at replaced with something less interesting.
By the way, a few lots seem to have traded in the low 300 range here (300 and 315 from a quick scan). So, it would seem to be more market price for a tear down lot than a deal.
But then what do you do here? Tear down? Even at $125 / sq ft you are already over the newer SFHs deperately seeking buyers in that nook of the school district. There is a short sale on tap for 899k @ 4,500 sq ft right around the corner (contingent, who knows where it will trade).
Good grief.
speaking of short sales – I got into an argument w/ a friend yesterday regarding the tax ramifications of a short sale. I thought that the amount “forgiven” by the mortgage company is treated like a capital gain or ordinary gain and is subject to taxation. My friend said that is not true – you can just walk away w/o any ramifications (except a ding on your credit score).
haha i love the bar in the basement
Clio,
Normally you are correct, but I’m pretty sure that Congress put a temporary moratorium on the practice earlier this year.
On the other hand, it is my understanding that the lender rarely sent a 1099 to the borrower so there was nothing ever reported.
I thinnk the seller was ripped off by the agent who either purchased the house or is getting kick backs from the developer who will put in a pergraniteel kitchen from HoBo, a new bathroom sink and drywall the ceilings and sell it for twice the price.
db,
db,
your on to something there, i wonder if in 90 days we will see this as a flip.
lets all keep a close eye on this one.
I’m only joking about the implied corruption of thje agent. sweet deal on the house
“The lot values are low because I don’t think there is anyone in North Center / Bell who really considers this side of Western to be part of the neighborhood.”
All of the folks in Bradley Place I and II might disagree.
Another one for less than this, also pending:
http://www.redfin.com/IL/Chicago/3835-N-Western-Ave-60618/home/13389095 and 2442 Byron closed last month for $315.
Western and other 4 lane arterials divide neighborhoods pretty handily. Other than the school district, there is not much connection. Western to the river is basically an island and the property values reflect that. Even the new construction ones.
“Western and other 4 lane arterials divide neighborhoods pretty handily.”
Sure, but there are a bunch of people bummed when it’s said so openly and unequivocally.
What does the neighborhood in that section feel like? It’s obviously very isolated but where else does sub $350K get you a SFH on a full+ size log, in a truly “coveted” school district in a neighborhood that (I’m guessing) is pretty residential and safe(?), and is close to downturn even if you have to take a bus and transfer.
Not quite sure what profile this appeals to though. Obviously someone interested in the school, but you can do that in the suburbs. So someone also interested in being close in in the city, but willing to take the tradeoff of relatively limited walkability (other than the McD).
“willing to take the tradeoff of relatively limited walkability (other than the McD)”
I think it depends on what one considers “walkable”. Revere Park–with it’s new playground–is that side of Western, Jewel/Walgreen’s/Dominicks/riverview center are 2 blocks south–sure, a notsogreat walk along Western, but that’s affirmatively close. And then you’re at one end of the Roscoe strip. Not the preferred location within the area–and I’d say not as nice (as a neighborhood) as the west of Western area north of IPR–but as you say it’s affirmatively cheap for the area.
“Obviously someone interested in the school, but you can do that in the suburbs.”
I’ve had the same thought DZ. I walk round this area a lot with my kids as the Revere Park is excellent. Horner Park is too. But this slug of the school district is very much an island.
Bradley Place houses are nice when you get inside–outside they’re McBland and they’re for people who want to drive.
There are lots of these Bungalow’s that pop up in this area. Some are obviously well-cared for and the people are friendly. Others look like estate sales and in need of knocking down.
“this slug of the school district is very much an island.”
Sure, but (1) what do you guys consider to be a walkable distance and (2) what do you want to be within that distance (dz–aside from the el, for both 1 & 2) and (3) to the extent it varies, what/how far? Western is definitely a major psychological barrier and most things I’d want to walk to are Roscoe/Lincoln/Montrose, but we’re talking about only ~2 blocks further, which seems pretty minor.
“Sure, but (1) what do you guys consider to be a walkable distance and (2) what do you want to be within that distance (dz–aside from the el, for both 1 & 2) and (3) to the extent it varies, what/how far? Western is definitely a major psychological barrier and most things I’d want to walk to are Roscoe/Lincoln/Montrose, but we’re talking about only ~2 blocks further, which seems pretty minor.”
Well, I’m not thrilled about the walkability of the section of Bell just on the east side of Western either. It’s ok but not ideal. Not just referring to el, but coffee, restaurants, grocery, playgrounds. (I know Revere park is close to this house, but feels far away places on the east side of Western.) In my ideal world, I’d have at least some places within 2-3 blocks, and a lot of stuff within a half mile. I think a half mile radius (maybe just a touch over) is our outer limit for a relaxing stroll with the kid.
The niceness of the walk is a huge factor (and I’m probably spoiled by Logan, which is great to walk on with a kid). A death march down Western to a crappy Jewel (this is from my wife not me–she will only go to the one on Ashland) is not a plus for walkability.
anon (tfo)–i think you’re right about Western. It’s psychological. There are parts of the Bell school district that are probably just as far (maybe further) from the school as Bradley Place and these bungalow streets (say Seeley just south of Irving Park). But you have to cross Western to go to the school and also to any grocery store.
“a crappy Jewel (this is from my wife not me–she will only go to the one on Ashland)”
The one at Wellington? Or at Division? It’s been a long time since I’ve been in either, but I have a hard time accepting that either is meaningfully different/better than this one which was re-built from scratch about 10 years ago. The Dominick’s (Roscoe/Western) is a pit, tho.
“[2-3 blocks v 1/2 mile]”–so, you count street crossings? I disapprove, keeping a rigid reference to the standard grid ratio–.5 mile = 4 blocks, 3 blocks means 3/8 mile, not crossing 3 streets. Western is a *huge* psychological barrier, tho–even if everything you wanted were available at Clarement & Addison, I’d feel like this place was a long walk from there.
“But you have to cross Western to go to the school and also to any grocery store.”
Or Addison. From this house, you can get to Jewel w/o crossing any street other than Addison–not that it’s a great walk, as I noted.
Location straight up sucks. Pass.
“The one at Wellington? Or at Division?”
The one at Wellington is the one she likes. I suspect it mostly comes down to how well stocked their kombucha section is (PS if anyone knows where to get the brand that was recently taken off the shelves for alcohol content).
““[2-3 blocks v 1/2 mile]”–so, you count street crossings? I disapprove, keeping a rigid reference to the standard grid ratio–.5 mile = 4 blocks, 3 blocks means 3/8 mile, not crossing 3 streets. Western is a *huge* psychological barrier, tho–even if everything you wanted were available at Clarement & Addison, I’d feel like this place was a long walk from there.”
Using your definitions, I’d say I’d like a fair amount of stuff within 2.5 blocks and a lot within 5 blocks, and still live on a nice residential street. As I said, that’s an ideal world although pretty close to what we have at the moment.
For me, the psychological factor is the niceness factor. It’s not so much that it feels far away, it’s just that it’s a walk I don’t particularly want to take. I’d rather walk a half mile on Logan than a quarter mile on California (and Fullerton-ish).
“For me, the psychological factor is the niceness factor. It’s not so much that it feels far away, it’s just that it’s a walk I don’t particularly want to take. I’d rather walk a half mile on Logan than a quarter mile on California (and Fullerton-ish).”
Agreed–which was what I was short-handing with the “Claremont & Addison would feel far away”.
“I think it depends on what one considers “walkable”. Revere Park–with it’s new playground–is that side of Western”
How is that park? i have not been there since i played HS baseball (cant remember which highschool used that park in my day). it is on my way to a friend in LS, Is it worth the stop?
“Location straight up sucks. Pass.”
Barry your missing the point the price reflects that as home across western are going for 700k-1.2mil with the added premium to be in bell district.
and waveland bowl will handle all your walkablity needs.
“How is that park? i have not been there since i played HS baseball (cant remember which highschool used that park in my day). it is on my way to a friend in LS, Is it worth the stop? ”
It’s pretty plain vanilla, among the newer parks. The new playlot at Welles (along Sunnyside, west of the fieldhouse) is nicer/bigger. Revere is less likely to be crowded, unless the B&G club is outside.
“unless the B&G club is outside.”
that went over my head
we have been spoiled with Sayre park awesome new playlot. been to many parks this summer and only found few comparable. (Found nothing comparable in LP.) Did find Mayfair redid theirs which is real nice but small. Waiting on Sauganash to finish theirs it looks pimp through the fence. Felger, we talked about last summer, is a joke and is jam packed with designer strollers and fake moms. the nannies are more fun and down to earth to hang with.
“that went over my head”
Boys and Girls club. They have camps and stuff in addition to the normal after school stuff, and the park (big as it is) can be taken over when they’re outside–not that that’s any issue, but may not be expected.
“we have been spoiled with Sayre park awesome new playlot.”
Yeah, that looks nicer and bigger than the one at Revere.
“unless the B&G club is outside.”
Biscuits and gravy? I’d sign up for that. I’m afraid boys and girls prob makes more sense…
“Boys and Girls club”
missed that one, wow its a monday for the groove, and now i have a taste for biscuit and gravy.
“Yeah, that looks nicer and bigger than the one at Revere”
Sayre,its a great park on a warm day!! the water thing thy got is fun. and if your kid is into Thomas the train they will love it when the Metra strolls on by. and the jungle gym is made to look like a train.
“now i have a taste for biscuit and gravy”
Kinda in your neighborhood:
http://www.yelp.com/biz/the-depot-american-diner-chicago
DZ,
saw that on Check Please too, never been there will try it soon, as it looked so good or that i am starving cause brown bagged it today and was disappointed what wifey packed. (yes honey if your reading this it was a sad lunch)
“Barry your missing the point the price reflects that as home across western are going for 700k-1.2mil with the added premium to be in bell district.
and waveland bowl will handle all your walkablity needs.”
I think the price certainly reflects that the location is sub-par, but A) no way this house goes for 700k on the other side of Western and B) you can’t change the location. I’m sure it would work for somebody (and it only takes one) but this location stinks!
“no way this house goes for 700k on the other side of Western”
This is true.
I think part of the appeal of a neighborhood school district in the neighborhood itself. Here you are in fact separated from the neighbors. AFFIRMATIVELY separated.
Not only is Bell School a factor, but also the public Lane Tech and Catholic Gordon Tech high schools. So a family with teenagers would be a prime customer for this.
As for recreation…this is an easy distance to Revere Park, Horner Park, California Park and the McFetridge Center with, among other features, an INDOOR ICE SKATING RINK!
Ahh…figure skating on a summer afternoon…doesn’t that sound “enticing?”
And of course it’s only a quick bus ride down Addison to Beautiful Wrigley Field…