Buying on Historic Prairie Street in the South Loop for Under the 2005 Price: 1843 S. Prairie
This 3-bedroom townhouse at 1843 S. Prairie in the South Loop has been on and off the market for 30 months.
Originally listed in April 2008, it is now being marketed as a “short sale”.
Part of the “homes of the Commonwealth” built in 2005 to replicate the feel of the old historic Prairie street, this townhouse has 4,655 square feet on 4 levels.
The kitchen has stainless steel appliances and what looks like granite counter tops.
There are also two decks and a lower level family room.
Now priced $8,500 under the 2005 purchase price, is this a deal?
Nadine Ferrata at Coldwell Banker has the listing. See the pictures here.
1843 S. Prairie: 3 bedrooms, 5 baths, 2 car garage, 4655 square feet
- Sold in August 2005 for $1,403,500
- Originally listed in April 2008
- Was listed in April 2010 for $1.495 million
- Reduced
- Currently listed as a “short sale” at $1.395 million
- Assessments of $225 a month
- Taxes of $19,117
- Central Air
- Bedroom #1: 14×19 (second floor)
- Bedroom #2: 12×17 (third floor)
- Bedroom #3: 13×14 (third floor)
- Family room: 15×25 (lower level)
3 bedrooms on 2 floors. Not in this price range.
holy bathrooms!
Why does a 3-bedroom house need 4 full and 2 half baths? They would have been better off eliminating 2 of the baths and adding another bedroom.
Not to mention the interior finishes do not look like what I’d expect at this price.
How did this EVER sell for $1.5 million??? Boring with crap finishes — neutral decor indeed.
$300/SF for those finishes in that location. Nada.
“Not to mention the interior finishes do not look like what I’d expect at this price.”
Yeah, it just doesn’t exceptional in any way. Also not in S Loop Elem, not that that necessarily matters if this were really to sell close to list, but also means it’s pretty far south.
Would love to see a floorplan, could use a laugh today
Epik fale.
“Why does a 3-bedroom house need 4 full and 2 half baths?”
From bottom to top:
Basement–full bath, so it can be used as guest/maid quarters.
Main floor–half
2d floor–master
3d floor–one full en suite, one full hallway
4th floor–half, so no running downstairs.
It’s non-absurd. I’ve seen a 2 br house with 9 bathrooms (norcal).
I think this house is very reasonably priced – it would be a great place for someone who wanted to live in this area.
I am surprised at all of the negative comments – I think it would be hilarious to see what people’s opinions/reactions on housing and housing prices in Boston, NY, SF, LA. Sabrina, please consider posting a listing from one of those areas to show chicago how “underpriced” the city really is!!!!
“From bottom to top:
Basement–full bath, so it can be used as guest/maid quarters.
Main floor–half
2d floor–master
3d floor–one full en suite, one full hallway
4th floor–half, so no running downstairs”
Listed that way it actually makes a lot of sense.
Sabrina, please only post listings in Detriot so we can all talk about overpriced Chicago real estate.
“I am surprised at all of the negative comments – I think it would be hilarious to see what people’s opinions/reactions on housing and housing prices in Boston, NY, SF, LA.”
But we’re judging it in comparison to what’s available *here*.
This one: http://www.redfin.com/IL/Chicago/128-E-18th-St-60616/home/12656679 is nearby, seems to have a more practical layout, is $595k less and isn’t a short sale.
Also, I am surprised that you find Western terrifying–why don’t you consider how terrifying it would be to drive your Lambo from Bagram AFB to Kabul?
“Also, I am surprised that you find Western terrifying–why don’t you consider how terrifying it would be to drive your Lambo from Bagram AFB to Kabul”
Does a road even exist? Actually, if it did I think it would be quite fun. That car brings so much happiness and smiles to people’s faces. They constantly are posing with it and taking pictures on the highway/streets. I get the “thumbs up” sign ALL the time. I’m sure that the Afgani people would be equally (if not moreso) overjoyed and happy seeing such a rare and unusual car!!
“Does a road even exist?”
Uh, yeah. With the variety of folks we have here, I wouldn’t be surprised if we had someone who has driven it. That someone is definitely not me.
“I’m sure that the Afgani people would be equally (if not moreso) overjoyed and happy seeing such a rare and unusual car!!”
I’m sure they would.
“I’m sure that the Afgani people would be equally (if not moreso) overjoyed and happy seeing such a rare and unusual car!!”
I’m also sure that they’d enjoy watching a roadside bomb blow it to pieces too… I know I would
Tear down historic mansions for that?
I feel a $1-1.5mn near west suburban home coming tomorrow morning to continue the “What will $1mn buy you here” series.
…please be Oak Brook, please be Oak Brook!!!
How is this a short sale? It had 90% financing at purchase ($1,262,750.) That would mean over a year of non-payment to make the ask “short.” There’s is a lis pendens filed on the PIN but it looks like an error.
“This one: http://www.redfin.com/IL/Chicago/128-E-18th-St-60616/home/12656679 is nearby, seems to have a more practical layout, is $595k less and isn’t a short sale.”
Come on, that’s a step down in finishes, size and location. 1843 S Prairie practically doesn’t even have a street out front. It’s very quiet and beautiful in that spot.
This is competing imo with the larger townhouses that are part of the museum park development, and yea, it’s way too expensive.
umm daley wont be mayor next year will his protective detail MIA make the area less safe?
*yes i know he is a few blocks up but still.
um…. no to this place
James – don’t worry the historic mansions had been gone long (as in 50 years before) this place was built. Actually, this development of townhouses either replaced a `1950s 1 or 2 story office/industrial building or its parking lot.
Read up on the history of this area between 1900 and 2000 (with particular focus on the middle of century) to really understand what happened here and how a neighborhood can make an almost 360 degree turn.
“Come on, that’s a step down in finishes, size and location. 1843 S Prairie practically doesn’t even have a street out front. It’s very quiet and beautiful in that spot.
This is competing imo with the larger townhouses that are part of the museum park development, and yea, it’s way too expensive.”
Sure, but what it’s *not* competing with is anything in Massachusetts, New York or California. I just grabbed teh first listing that had about the same bed/bath count in the general area that is much cheaper.
Also, at least as to light fixtures, I’d say the 18th st place is a step *up*.
“How is this a short sale? It had 90% financing at purchase ($1,262,750.) That would mean over a year of non-payment to make the ask “short.” There’s is a lis pendens filed on the PIN but it looks like an error.”
1st half taxes weren’t paid, so there should be at least 7 months of non-payment. Which, after transfer and commission and the $20k+ in taxes, probably makes it short at the ask.
“That car brings so much happiness and smiles to people’s faces”
Barf
is this a development of Tony Rezko, or Rezmar? PS What ever happened to the “mar” part of Rezmar, Dan Marhu?
“I think it would be hilarious to see what people’s opinions/reactions on housing and housing prices in Boston, NY, SF, LA. Sabrina, please consider posting a listing from one of those areas to show chicago how “underpriced” the city really is!!!!”
Salaries are also higher in those cities genius.
This particular block is fantastic and has a BIG park with a rose garden and an historic house (museum now) in it…it’s really quite beautiful. I stumbled across a street festival here a couple of weeks ago and there were lots of families with kids…very friendly. I agree the finishes are nothing to shout about, but that location is excellent if you like the South Loop (and a lot of people do!)
Oops – meant to say the park is ACROSS the street….so people in these townhomes (they’re really more like row homes) get to look out on the park!
I like this house and if I was in the market for a house in this price range, I would definitely consider this one. I like the area and I like the plain look on the inside.
I’m also sure that they’d enjoy watching a roadside bomb blow it to pieces too… I know I would
Oh cmon, supercars aren’t meant to say f-u blow me up (yet I fully agree that some of the driver’s bring off that persona). Rather, they are works of art like a painting and as Clio states, bring happiness and smiles to peoples faces. Now if you were zoomin through Afgani with a giant American flag attached, blowin in the wind as you hit 150mph blasting Bruce Springsteen or similar… that’s another thing!
“#
roscoevillager on October 14th, 2010 at 3:52 pm
“That car brings so much happiness and smiles to people’s faces”
Barf
”
They certainly bring more envy and visual pleasure to my eyes vs. about 100% of the buildings/architecture of your neighborhood. Boring azz looking residential.
In fact nicest inanimate things I ever saw in RV were those retro cars at their burgerfest. No supercars per se, but certainly more pleasing to the eye than the surrounding buildings.
The whole scenario about someone driving a lambo in Afghan is pretty hilarious. The military patrol would find clio with his car stuck in Afghan dirt within the first 50 miles and weird looking people from the mountains would be walking up to it thinking its a UFO.
“The military patrol would find clio with his car stuck in Afghan dirt”
It’s all wheel drive!!!
“It’s all wheel drive!!!”
With a specially tuned suspension for the newly modernized Afghan roads. Hahaha!
Sold Nov 1st for 1.15