On and Off the Market for 8 Years and Now Bank Owned: A Wicker Park Cottage at 1234 N. Marion

We last chattered about this 4-bedroom brick cottage at 1234 N. Marion in Wicker Park in September 2010.

Check out our prior interesting discussion about the mortgages and whether or not this is a teardown here.

Some thought tearing it down would be problematic because there is no alley- only the side driveway.

Financedoc also posted the following in 2011:

“Spent $150 for a full FHA inspection. The home is riddled with termites and crumbling. Minimum $200k to save and rehab. The seller will take $300k if you’re up for it.”

The bank has now taken it back, nearly 3 years after the lis pendens foreclosure was filed.

It was listed as a short sale for $339,000 in June 2011.

It just came back on the market (same realtor as the prior listings) for $359,500.

It is a Fannie Mae Homepath property. A HomePath Renovation Mortgage is available. There is also a 15 day first look for owner occupants- so you can’t complain that the developers/rehabbers are getting them all.

You only need 3% down.

There are now interior pictures.

If you recall, the house was built in 1890 and is on a 33.3×110 lot.

There is no central air but there is a side drive with some parking.

3 out of the 4 bedrooms are on the second floor and the fourth is on the main floor.

Back in 2010 and 2011, some of you thought it had to sell for under $200,000 to make any rehab a viable option.

What do you all think of the price now?

Will this house finally sell in 2012?

Kirby Pearson at Pearson Realty Group still has the listing. See the pictures here (finally with interior pics).

1234 N. Marion Ct.: 4 bedrooms, 3 baths, 1 car parking on side drive, 1992 square feet

  • Sold before 1985
  • Originally listed in October 2005 for $749,900
  • Reduced several times
  • Lis pendens foreclosure filed in August 2009
  • Reduced in March 2010 to $399,999
  • Reduced
  • Was listed in September 2010 at $375,000
  • Reduced
  • Was listed in June 2011 for $339,000
  • Bank owned in July 2012
  • Re-listed as a Fannie Mae Homepath property at $359,500
  • Taxes now $9221 (they were $7241 in September 2010)
  • No central air
  • Bedroom #1: 13×12 (second floor)
  • Bedroom #2: 15×8 (main floor)
  • Bedroom #3: 17×15 (second floor)
  • Bedroom #4: 10×10 (second floor)




“2nd bed is den/office” At 10 E. Delaware In The Gold Coast

This 2-bedroom at 10 E. Delaware, the newer construction high rise in the Gold Coast, has been on and off the market since January 2010.

It recently came back on the market listed as a 2 bedroom, 1.5 bath unit with the listing saying “2nd bed is den/office.”

A den/office usually doesn’t have a closet. In Chicago, to be a bedroom, it has to have a closet.

Is it a bedroom or a den then?

This is the “A” unit. I have never seen it listed as anything other than a 1 bedroom plus den.

Another A unit, #17A, is also currently on the market. That is listed as a 1-bedroom plus den for $729,900 (parking extra.)

You can see the listing for that unit here.

In fact, in its older listings, #11A was listed as a 1 bedroom plus den just as all the other A units are always listed.

These A units were originally marketed as luxury 1-bedrooms.

Unit #11A has 1023 square feet.

The kitchen is Poggenpohl and has SubZero, Miele and Wolf appliances.

The master bath is marble.

If you include the parking, this unit is listed $125,000 more than the January 2010 purchase price.

Will this unit get the premium over the 2010 sale?

And what will buyers think who go to look at the unit expecting to see a 2-bedroom?

Timothy Salm at Jameson Sotheby’s has the listing. See the pictures here.

Unit #11A: 2 bedrooms, 1.5 baths, 1023 square feet

  • Sold in January 2010 for $615,000 (included the parking)
  • Originally listed in January 2010 for $699,900
  • Reduced
  • Was listed as low as $649,000 in February 2011
  • Withdrawn
  • Currently listed for $675,000 (parking $65,000 extra)
  • Assessments of $481 a month (includes pool, doorman, a/c)
  • Taxes of $8392
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 12×12
  • Bedroom #2 (den????): 9×9

Get A Renovated Portage Park 4-Bedroom Bungalow For Under $430K: 5240 W. Cuyler

We’ve been chattering quite a bit about rehabbed properties like this 4-bedroom vintage brick bungalow at 5240 W. Cuyler in Portage Park.

Built in 1916 on a 30×125 lot, it has a 2-car garage and is located just a block and a half from the Park.

The listing says it’s a “gut renovation to the studs”.

If you look at the pictures from the previous listing, when it was a 2 bedroom/1 bath being sold “as-is”, you’ll see what that means.

See the prior pictures here.

It now has a “chef’s kitchen” with dark cabinets, granite counter tops and stainless steel appliances.

There are  hardwood floors throughout the main living area and wainscotting.

There is a full basement with a family room, a bedroom and bath.

Otherwise, two of the four bedrooms are on the second floor and the third is on the main level.

Will this rehabber get over $400,000 in this neighborhood?

D. Waveland Kendt at @Properties has the listing. See the pictures here.

5240 W. Cuyler: 4 bedrooms, 3 baths, 2 car garage, no square footage listed

  • There are no older records for this property
  • Sold in September 2011 for $90,000
  • Currently listed for $429,900
  • Taxes of $5001
  • Central Air
  • Bedroom #1: 24×12 (second floor)
  • Bedroom #2: 16×11 (second floor)
  • Bedroom #3: 9×14 (main floor)
  • Bedroom #4: 14×8 (basement)
  • Family room: 23×20 (basement)


We Love River North Penthouses With Wrap Around Terraces: 340 W. Superior

This 2-bedroom penthouse at 340 W. Superior in River North has been on the market since June 2012.

It has an open floorplan with a double-sided fireplace in the living room and dining room.

You can see the 1200 square foot terrace from anywhere in the living/dining room as it wraps around the unit.

The kitchen is “gourmet” with cherry cabinets, granite counter tops and stainless steel appliances.

It also has hand-fired Italian tiles and built in speakers.

Unlike a lot of the other penthouses we’ve been chattering about, however, it is not a 3-bedroom unit but is just 2-bedrooms.

It does have the coveted 2-car parking however.

Will the lack of a third bedroom make this a harder sell?

Millie Rosenbloom at Baird & Warner has the listing. See the pictures here.

Unit PH2: 2 bedrooms, 2.5 baths, 2 car parking, 2698 square feet

  • I couldn’t find a prior sale
  • Originally listed in June 2012 for $1.4 million
  • Reduced
  • Currently listed at $1.35 million
  • Assessments of $1894 a month (includes heat, a/c, doorman, cable)
  • Taxes of $16,750
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 20×18
  • Bedroom #2: 13×9

Not Your Cookie Cutter 3-Bedroom In The Montgomery At 500 W. Superior In River North

This 3-bedroom in The Montgomery at 500 W. Superior in River North has some unique finishes.

The listing says it is architect owned and has finishes out of the pages of architectural digest and the Merchandise Mart.

It has 10 foot ceilings and a top of the line kitchen with luxury upgrades.

The bathrooms are slate and soapstone.

There are stone walls and dark hardwood floors.

At 2245 square feet, the unit also has a family room.

First listed in May 2010 for $1.2 million, it has been listed on and off between $1.2 million and $975,000 since then.

Will it finally find a buyer in 2012?

Michael Rosenblum at Koenig & Strey Real Living has the listing. See the pictures here.

Unit #912: 3 bedrooms, 2.5 baths, 2245 square feet

  • Sold in July 2005 for $679,000
  • Sold in September 2006 for $975,000
  • Originally listed in May 2010 for $1.2 million
  • Reduced
  • Was listed in February 2011 at $975,000
  • Raised back to $1.2 million in February 2011
  • Withdrawn in March 2011
  • Re-listed in July 2012 at $975,000
  • Raised
  • Currently listed at $1 million (2 car tandem parking available for $49,000)
  • Assessments of $1257 a month (includes a/c, doorman, cable)
  • Taxes of $10,570
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 13×16
  • Bedroom #2: 11×16
  • Bedroom #3: 10×14
  • Family room: 15×15

This 2-Flat Greystone On The Boulevard Has Been Rehabbed Into A 6-Bedroom SFH: 3051 W. Logan Boulevard

This 6-bedroom greystone single family home at 3051 W. Logan Boulevard in Logan Square recently came on the market. (Thanks to DZ for the excellent picture.)

It was previously a 2-flat and had been bank owned in 2009.

The property has been renovated into a single family home with 6000 square feet.

Built in 1910 on an oversized irregular lot measuring 50×92.1×59.85×125, the house has a coveted 3-car garage and multiple new decks.

None of the original vintage features in the interior appear to be remaining.

The entire interior has been gutted with a new kitchen with custom cabinets and SubZero and Wolf appliances and all new stone baths.

Three bedrooms are on the second floor, two on the third and one in the basement along with a family room and a theater room.

The Boulevard has been hot in the last few years.

Can this location support this nearly $2 million price point?

Victor Lang at Cloudview Realty has the listing. See the pictures here.

You can also see the previous listing when the house was a bank owned 2-flat here (but no interior pics).

3051 W. Logan Boulevard: 6 bedrooms, 4 full and 3 half baths, 6000 square feet, 3 car garage

  • Sold in January 1987 (no price listed)
  • Sold in June 2004 for $740,000
  • Lis pendens filed in June 2008
  • Bank owned in April 2009
  • Sold in November 2009 for $505,000
  • Currently listed at $1,788,800
  • Taxes are $8213
  • Central Air
  • Bedroom #1: 15×15 (second floor)
  • Bedroom #2: 12×12 (second floor)
  • Bedroom #3: 16×12 (second floor)
  • Bedroom #4: 14×10 (third floor)
  • Bedroom #5: 11×14 (third floor)
  • Bedroom #6: 14×13 (basement)
  • Family room: 21×17 (basement)
  • Theater room: 15×17 (basement)

Is Now The Time To Be Listing? A 3-Bedroom In 550 N. St. Clair In Streeterville

This 3-bedroom in 550 N. St. Clair in Streeterville recently came on the market.

It has one of the preferred views- north and west- which overlooks Michigan Avenue.

This building was new construction in 2007.

It has concrete ceilings and a modern kitchen and baths.

The kitchen has Subzero and Bosch appliances and the larger bath has a spa/shower.

The pictures don’t tell us much else.

The unit is listed $67,500 under its 2008 purchase price.

Parking is included in the price.

But seeing those interior pictures made me wonder- has the market improved enough that just anything can be listed and there will be interest in it?

Gerald Clark at Caren Real Estate has the listing. It is agent owned. See the pictures here.

Unit #1508: 3 bedrooms, 2 baths, 1625 square feet

  • Sold in March 2008 for $766,500 (parking included)
  • Currently listed for $699,000 (parking included)
  • Assessments of $674 a month (includes heat, a/c, doorman, pool)
  • Taxes of $11,500
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom #1: 15×12
  • Bedroom #2: 15×11
  • Bedroom #3: 15×10

Remember This Bank Owned 1-Bedroom In Old Town? It’s Now Just $199,500: 1212 N. Wells

We last chattered about this 1-bedroom in the Neopolitan at 1212 N. Wells in Old Town in August 2012.

See our August 2012 chatter here.

We mainly debated whether or not it now made sense to buy this kind of property instead of renting for thousands of dollars a month directly across the street in the new construction apartment high rise.

Obviously, no buyers thought it made more sense to buy because the unit is still on the market and has been reduced $10,000 to $199,500.

If you recall, it is a Fannie Mae Homepath property.

From the listing pictures, it appears the kitchen and bath are intact.

The kitchen has maple cabinets and black appliances.

The unit has two balconies including what looks to be a rather large terrace.

It has hardwood floors in the main living areas and a fireplace.

The unit has central air and washer/dryer in the unit.

However, the listing doesn’t say anything about parking. It looks like the prior sale in 2003 did NOT include it so I don’t believe it has parking.

How low will this go?

Katarina Ciric at Redline Realty still has the listing. See the pictures here.

Unit #206: 1 bedroom, 1 bath, 900 square feet

  • Sold in September 2003 for $276,500
  • Lis pendens foreclosure filed in March 2011
  • Fannie Mae Homepath property
  • Originally listed in August 2012 at $209,500
  • Reduced
  • Currently listed at $199,500
  • Not FHA approved
  • Assessments of $473 a month (includes cable, doorman, tennis courts)
  • Taxes of $4886
  • Central Air
  • Washer/Dryer in the unit
  • Bedroom: 14×10

Will Our Favorite Vintage Queen Anne Finally Sell In 2012? 6239 N. Lundy in Old Edgebrook

We’ve chattered about this 4-bedroom Queen Anne at 6239 N. Lundy in the Old Edgebrook neighborhood of Forest Glen several times over the last few years.

See our last chatter in November 2011 here.

Nearly a year ago, the house was listed at $799,000.

It has since been reduced again and is now listed at $729,000.

Out of all the houses in Old Edgebrook that we have chattered about in the last few years, this is the only one that hasn’t yet sold.

It has now been on the market  2 years and 8 months.

If you recall, this Queen Anne was built in 1896. It still has many of its vintage features including its oak staircase, lead and stained glass and pocket doors.

The kitchen has a stainless steel refrigerator and dishwasher as well as granite counter tops and white cabinets. It has a front turret, a double parlor and a finished basement. There is a 3-car garage and central air.

The houses in the district are on larger lots and this one is no exception- having been built on a 111×164×65×158 lot.

Will we finally see a sale in 2012?

And will it be in the $600,000s?

Irene Yungerman at Baird and Warner still has the listing. See the pictures here.

6239 N. Lundy: 4 bedrooms, 3 baths, 3 car garage, 3510 square feet

  • Sold in March 1986
  • Sold in December 1989 for $492,000
  • Originally listed in February 2010 for $998,000
  • Reduced in May 2010
  • Was listed in October 2010 for $949,000
  • Reduced
  • Was listed in July 2011 at $859,000
  • Reduced
  • Was listed in November 2011 at $799,000
  • Reduced
  • Currently listed at $729,000
  • Taxes now $13,499 (they were $12,588 in November 2011)
  • Central Air
  • Bedroom #1: 15×14 (second floor)
  • Bedroom #2: 17×12 (second floor)
  • Bedroom #3: 13×12 (second floor)
  • Bedroom #4: 14×14 (third floor)


Looking For A 4-Bedroom In Wildwood? This Georgian At 6740 N. Wildwood Fits The Bill

This 4-bedroom single family  home at 6740 N. Wildwood in the Wildwood neighborhood of Forest Glen just came on the market.

Built in 1949, the listing calls it a “jumbo Lannon stone Georgian.”

It’s on an oversized 45×152 lot (as are most of the homes in this neighborhood.

Wildwood is a unique Chicago neighborhood with streets with no curbs and handpainted wood street signs.

The Edgebrook Metra Station and the entrance to the North Branch bike trail are nearby.

This house has the preferred layout of all 4 bedrooms on the second level. The listing says a master suite with a bath were added to the house in 2009.

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

There is a family room off the kitchen as well as a lower level recreation room in what looks like a semi-finished basement.

The house has central air and a 1-car garage which the listing says is 30 feet deep.

Can this neighborhood support a price of $749,000?

Linda Kramer at Baird & Warner has the listing. See the pictures here.

6740 N. Wildwood: 4 bedrooms, 2.5 baths, no square footage listed, 1 car garage

  • Sold in January 1992 for $200,000
  • Sold in July 1994 for $296,000
  • Sold in September 1997 for $335,000
  • Sold in August 2007 for $665,000
  • Master suite addition in 2009
  • Currently listed for $749,000
  • Taxes of $10,164
  • Central Air
  • 2 woodburning fireplaces
  • Bedroom #1: 22×18
  • Bedroom #2: 18×13
  • Bedroom #3: 13×12
  • Bedroom #4: 12×11
  • Family room: 22×17 (first floor)
  • Recreation room: 30×22 (lower level)