112 Years Later, The Bank Owns This Mansion Again: 2100 W. Pratt Blvd in West Ridge
We’ve chattered about “The Pratt Mansion”, as I’m calling it, at 2100 W. Pratt Boulevard in West Ridge several times over the last couple of years.
See our January 2012 chatter here.
It was in distress as the bank had filed a lis pendens foreclosure all the way back in 2010. The house had been previously listed as a short sale in 2010 and 2011.
In our last chatter in January, I asked if the house would sell BEFORE the bank took it back.
We now have the answer to that: No.
112 years after it was built, the bank has now taken the 8,865 square foot house (plus chauffeur’s apartment) back.
And yes, it’s now cheaper than ever.
The bank has reduced it to just $749,900.
Built in 1900, the previous listing said it was a summer home and took 4 years to complete.
The 5-bedroom home has hardwood floors throughout and 5 fireplaces.
Built on an oversize 187×150 lot, there is a 3-car garage which the prior listing said was also the original chauffeur’s quarters.
20 years ago an indoor pool was also added to the house (you can check it out in the pictures- it has now been drained.)
The kitchen has white cabinets, black counter tops but the appliances are now missing.
There is central air.
The house sits across from Warren Park’s golf course.
The old listing said it was a “home with a lot of history.”
Is this house finally a steal at this price?
Richard Babula at Century 21 Rainbo Realty now has the listing. See the latest pictures here. (These are “new” pictures. Yipee!)
2100 W. Pratt Boulevard: 5 bedrooms, 4 baths, 3 half baths, 12,000 square feet (new listing says 8865 square feet- so maybe it is excluding the chauffeur’s apartment), 3 car garage
- Last sold in 1900
- Lis pendens foreclosure filed in October 2010
- Originally listed in January 2011 for $2.45 million
- Was still listed in March 2011 for $2.45 million
- Reduced
- Was listed in June 2011 at $1.89 million
- Reduced several times
- Was listed in January 2012 at $1.29 million
- Reduced
- Was listed in April 2012 at $848,000
- Withdrawn
- Re-listed as “bank owned” at $749,900
- Taxes now $16036 (they were $14,225 previously)
- Central Air
- Indoor Pool
- 5 fireplaces
- Bedroom #1: 20×26 (second floor)
- Bedroom #2: 15×15 (main floor)
- Bedroom #3: 14×12 (main floor)
- Bedroom #4: 20×19 (second floor)
- Bedroom #5: 17×10 (second floor)
The “don’t bother cleaning the place before taking the photos” tactic is very innovative.
Looks like an old folks home.
love it!
It’s a beautiful old home and a deal for the money. West Rogers Park was a very well-off and desirable neighborhood until the past two decades and I’m convinced it will cycle round again, given the quality of so much of it’s fine old housing stock.
Right now, though ,homes of this quality are suffering in that area and how fast this place will move even at this price is anybody’s guess. It is a nightmare to maintain and heat, and it needs a lot of updating. And there are many other fine homes languishing on the market in this neighborhood, notably 3118 W Wallen, built new and never occupied, and originally priced at $2.7 M but now dropped to $1.3M, here:
http://www.realtor.com/realestateandhomes-detail/3118-W-Wallen-Ave_Chicago_IL_60645_M89092-84404
This is a great deal – especially if you have a large, or extended family. Think about it – if you had somewhat elderly parents (or in-laws or siblings) – does it make sense for each of you to live in 3/2 walk up for 400k (800k) – it would be MUCH better to live in a place like this – and there would be much more room to roam, etc. This is really a great deal for the right situation.
I am not familiar with this area (or the area where that beautiful house Laura linked to is). Is this a bad or dangerous neighborhood or something?
Sad sad sad to see a inherited a few times over place end up like this and end up being owned by a faceless entity.
I cant say if the price is a steal as it seems that its a neglected house and who knows what needs to be done. the few updates done are distasteful to the history of the house and to anybody’s eyesight.
If i had ties to the hood or need to live in this area i would LOVE to have a house this big on this large of lot.
“Is this a bad or dangerous neighborhood or something?”
Wait – I just saw the major cross road just west of this house – so I answered my own question…..
Man, this one is really interesting.
I love this house and I would MUCH rather live here than the racist house in Bridgeport featured recently.
I’m guessing the upkeep on this place is astronomical. Hopefully, the buyer will be well aware of that fact. At $749k, it might attract someone who doesn’t realize that this house is going to cost a fortune to live in and doesn’t have the money to spend.
Clio, the West Ridge-West Rogers Park area has suffered a lot of deterioration and influx of bad elements in the past 20 years, especially in the areas east of western, but west of East Rogers Park. The area, which used to be pristine, has unfortunately, along with East Rogers Park, become a “dumping ground” for evacuees from the old Cabrini Green housing projects. Unfortunately, the Section 8 program enables many of the areas large, elegant, family-sized old apartments to be rented out to undesirable people at “market” rents, which results in deteriorating buildings rented at premium rents to families who could never afford these units on their earned incomes, and who often “double up” in them and cause problems in the area. The area is still solid enough to recover from this, especially if we can get codes enforced and get really bad apartment buildings cleaned up and/or vacated. The area is still fortunately heavily populated by Orthodox Jews, along with large populations of Hindus and Muslims, all of whom are positive for the neighborhood.
This house is in an area that needs a little bit of “cleaning up”- mainly of rental buildings that have deteriorated. The house on Wallen is quite a few blocks west in an area that is still pristine, very close to Lincolnwood.
I believe anyone buying in this area now can get a gift of a deal on a beautiful house or condo that usually is in fairly livable condition. The housing stock is beautiful. The architecture and quality of construction in this area are exceptional, with a lot of it having been built in period 1900-1930. Buyers should bargain very hard because there are a lot of distressed properties on the market around here, and if you have a lot of cash, you should be able to shave 30% off any ask price no matter how low it seems. Anyone who doubts this neighborhood will come back need only look at neighborhoods close to downtown like Wicker Park, Logan Square, Bucktown, or even North Center. Those neighborhoods were considered beyond hope 25-35 years ago, and they don’t have anymore going for them in the way of architecture than this one does.
This area will need a lot less help to get back to prime than those did. It is extremely convenient to Evanston and Skokie, and not far from the lake. The only thing it lacks is convenient public transportation. In my dreams, the city will someday not too far in the future run a spur off the brown line into this area over Western Ave. Right now, you have to drive, or take a bus over to the Metra stop on Lunt, or to the Red Line in E. Rogers Park.
“The only thing it lacks is convenient public transportation. In my dreams, the city will someday not too far in the future run a spur off the brown line into this area over Western Ave. Right now, you have to drive, or take a bus over to the Metra stop on Lunt, or to the Red Line in E. Rogers Park.”
This is the issue that has prevented it from attracting the investment seen in the other neighborhoods you listed. And this issue that isn’t really going away.
What’s wrong with section 8? Isn’t that another way of saying you’re intolerant of socio-economic diversity?
I love to see “Old Money” go down! I wonder who is rolling over in their grave!
“If i had ties to the hood or need to live in this area i would LOVE to have a house this big on this large of lot.”
You could put up greek letters, and tell girls walking by that it is a sorority house and they should come in for free cocktails.
I guess what I’m intolerant of is places rented by slobs on welfare who have 5-20 kids by almost that many different “baby daddies” who are either doing time or on their way to it, and inhabited by 20 (or even more) friends and relatives who “stay” at the place intermittently, while the landlord collects a “market” rent from the government while using his badly maintained property as a rent-mine while doing nothing to maintain the appearance or decorum of the place.
I love this home. I used to live 2 blocks east of here and always noticed this home when I went past. I hate to see it owned by the bank and in this state.
I understand this house as when it was built the area was very different and Warren Park was probably a wonderful place out in the country. I love the home still for what it was and is although it is a blah neighborhood now. I can’t explain the Wallen place. Who builds that here??
At this price and with the upkeep/updating needed, who is a realistic buyer today? Devon isn’t too far away. I could see a large, successful Indian family buying the place and putting in lots of white carpeting and mirrors. (sorry for the stereotype) They’d have a short commute and probably wouldn’t worry about the lack of public transportation as much.
What do you mean the bank owns it “again”?
Regardless of whether the area was/is good or was/is improving, few people with the funds and desire to renovate and maintain a property of this size are going to want to buy in this neigborhood at the present time. The best hope for the near term is some kind of commercial/institutional buyer.
I hope not, JPS, but I notice that a lot of really large houses and even coops and condos are owned by institutions. So you’re likely right, because there are very few people affluent enough to carry a house like this even if they get it as a tax-free gift, which is probably why the descendents of its original owner ended up losing it to the bank. I’m guessing they HELOCed it just to get money to live on and pay the expenses of the place and that their incomes were nowhere near what they needed to be to live this way.
In other words, the person who wants to live here, cannot affford the price tag and the person who can afford the price tag doesn’t want to live here.
–the Gospel according to Icarus.
“few people with the funds and desire to renovate and maintain a property of this size are going to want to buy in this neigborhood at the present time”
If you work downtown, the Rogers Park Metra stop is a 10 minute walk away, so there is public transportation. It’s right across from Warren Park, and the neighborhood — from Touhy down to Pratt, between Ridge and Western — is very nice and residential.
The problem with this house is that it likely needs $500k to renovate it and a lot of money every month to maintain it (the pool, heating and cooling, yard work, taxes, mortgage).
Also it is right near JJ peppers where they sometimes charge you 30% sales tax on a six pack.
Hey Laura, what is going on with Bruno’s on sheridan? the whole block seems to have been leveled except for his building, and maybe the one next to it. It is like an oasis among the rubble. very odd. any idea?
That stretch of Sheridan is being taken over by Loyola. They bought and rehabbed a large apartment building on Sheridan and North Shore, and are building up more around the Loyola stop.
does Bruno refuse to sell?
Why is it that when cribchatter discusses Rogers Park everyone has reasonable commentary but when Uptown comes up, people decide to just shit all over the neighborhood for hours on end?
Know people in e rogers park who finally short sold their place for v close to half off (more than half off if you include upgrades they put in). At least according to them, the building was not in trouble, neighborhood was similar to when they bought, it’s just that prices plummeted, and they really bought at the peak. They’re renting in burbs now.
CHK and RCHelli,
I attended the meeting at which the reno of the Loyola el stop and restoration of a 4-way stop at Loyola Ave and Sheridan, plus construction of a 4-story market-rate rental apt building with retail at grade level immediately adjacent to Bruno’s, was presented, and I’m tremendously excited about the plans, which will greatly improve the block, while keeping Bruno’s lovely old building. Loyola is not the developer (I forget the name of the developer). Townhouses will be built on Albion Ave, which will make this block of Albion much safer and more attractive ,because right now, there is a parking lot fronting Albion and it creates a dangerous, desolate “dead” zone that you don’t like walking past at night.
What is happening exactly, is that the Loyola el station is being renovated to have a side entrance onto a plaza. Loyola Ave will be cut all the way through, and a very clearly marked 4 way stop and crosswalk will replace the dangerous blind crosswalk at the el station, where numerous pedestrians have been struck and killed.
Bruno refused to sell and I’m glad,because his building has some of the most exceptional and colorful terra cotta trim of any small building in the city. Bruno was at the meeting and said he has no intention of selling, ever.
The 4-story mixed use apt and retail building will be built on the northwest corner, wall to wall with Bruno’s and will have retail fronting Sheridan and Loyola.
The el station will be substantially improved in appearance and function. The old entrance on Sheridan will be removed and a small addition to the station will be built for the new entrance on the side, which will face a small, decorative plaza. The bus stop will be at Loyola and Sheridan, just south of the crosswalk, and drop passengers right in front of the station.
Great forgotten Chicago article on Warren Park (the park right across from this house)
http://forgottenchicago.com/features/edgewater-golf-club/
cool Laura, thanks for the info. also cool that Bruno wont sell. I just heard from neighborhood friend that Loyola lowballed him and when he said no they asked if maybe he’d leave it to them in his will. he was not happy with that suggestion.
right now standing alone their his place looks like the alamo, but with beer.
Thanks for the update.
I knew about the proposed renovations to the Loyola stop, but I just assumed (incorrectly, it seems) that it was Loyola that was doing more of the development along Sheridan. That Loyola station is one of the worst on the north side (it’s no Wilson stop, but what is) and has been in desperate need of fixing up. Hell, that elevated bridge over Sheridan looks like it’ll collapse any minute.
I think any neighborhood needs a mix of new developments and old (like Bruno’s building), so I’m pleased. We just moved from that area just a little south, but I’m always interested with what’s happening up there.
If you think the current Loyola station is one of the worst, then you have never seen the Wilson (THE worst), Sheridan, Lawrence, Argyle, Berwyn, Bryn Mawr, Thorndale, Morse, or Jarvis stops. The Loyola station is a PALACE compared to these 9 other stations.
Morse and Granville are closed for reno right now, and I believe that Thorndale and Argyle are next.
Such a shame that the original owner did not pick a lot slightly further north or northwest. The home would have held it’s value over the years and be in demand today. Still a cool place but I suspect that the Hennigan wrecking crew will be getting a call sometime soon.
Brunos is the only liquor store in the city that will sell to underagecollege students. Never ever had my Id checked even as a freshman. Cops don’t care either bc there is so many other problems in the neighborhood to worry about. It’s amazing the Amount of money that store makes with the monopoly on packaged liquor sales to loyola students.
“Why is it that when cribchatter discusses Rogers Park everyone has reasonable commentary but when Uptown comes up, people decide to just shit all over the neighborhood for hours on end?”
Because most people that post comments on this blog are open racists that treat any neighborhood that’s less than 97% white and not filled with yogurt shops as “dangerous”. Bottom line is statistically, unless you’re actively in the drug trade, your chances of dying from a gunshot wound in Uptown, Rogers Park, Logan Square, or almost any north/northwest neighborhood in Chicago is significantly lower than dying in a car wreck from the added miles one would put on their car living in Naperville.
LL — Oh, I mentioned the Wilson stop (which is absolutely horrible). Most of the Far North Red Line stations are being renovated, but I don’t know what can help Wilson. And I don’t see Sheridan as being that bad.
To me, there are two too many stops up there. Do you really need a stop every 3 or 4 blocks?
Those Devon Avenue-area ethnic immigrant families head out to the suburbs ASAP for their next home, whether to rent or buy. Look at Lincolnwood and Skokie demographics, as an example.
This house is a White Elephant. It needs an institutional buyer to survive intact; it’s unlikely that a wealthy bachelor’s willing to park himself at Pratt/Western, and this area isn’t a dual-income professional couple’s idea of a nice place to raise their 3 kids. Very familiar with area.
I guess with brunos across the street you never had to venture down to sun liquors on granville. they’d sell to high school students. think the neighborhood rallied and shut them down couple years back
“I guess with brunos across the street you never had to venture down to sun liquors on granville.” There were open air drug markets just south of granville and nobody was dumb enough to go down there to pay $5 a bag for ditch weed.
I remember one time I walked south on kenmore to dominicks and purchased two 30 packs of some crap beer, and carried them back to campus. My arms hurts for a week after that but the beer numbed the pain, at least for the weekend.
Sun Liquors and another store on Granville that caused problems, were together the reason Granville was taken “dry” for package liquor sales (though not for bars), and the CVS at Granville & Broadway can’t get a liquor license… which strikes me as unfair. The reason, of course, is that you have to take the entire precinct dry to get rid of one or two rogue stores.
I don’t buy liquor often, just wine, and usually at Dominick’s if I’m too lazy to go down to Binny’s in Lakeview.
RChell, I think Sheridan is a horrible stop, very decrepit and shabby, with horrible ingress and egress. That stop will be replaced, too, I hear, with one with entrances on Sheridan and Irving Park.
The entire line is slated to be replaced over the next 10 years and the elevated structure from Sheridan to Howard, which is nearly 100 years old and very deteriorated, will be rebuilt. It’s about time. The Red hauls about 60% of all CTA rail users and its ridership levels now equal those of the previous peak year, which was 1927. I personally project much greater demand for transit all over the city, along with an large increase in city population as the outer suburbs become unlivable for ordinary people in the next 20 years. They won’t be able to afford to own three cars per household or make those 50-mile-each-direction commutes anymore. It won’t be a question of people’s “choices” or what they think they “want”. It will be about what you HAVE to do to survive.
Speaking of the el, this is a joke, right? http://railstocartrails.org/
@madeline
wow, some people are just beyond stupid!
Yes, Madeline, I think that site is a joke.
Or at least I hope. People in the US of A are so hopped up on delusionol and hopium, and so used to getting what they want when they want it by pulling out a piece of plastic, that even that tired old saw of 1950s sci-fi, the Flying Car, still has a rapid tribe of addled enthusiasts, some of whom have gotten together and built the Terrafeuga, a real-life flying auto. It costs around $200K. We can be thankful the home ATMs have been shut down by the housing bust, else tech-addled suburbanites would be HELOCing their mini-manses to buy these things.
Madeline – great link. Everyone has a dream. Even people with minimal logic skills. A better idea is to update the rails to real trains. How about quiet clean efficient and more frequent trains. How about the high speed version from Midway and O’Hare with only one stop between the airports and downtown. How about looking forward as the forefathers did 100 years ago instead of replacing the dated infrastructure with the same old same old stuff.
Now that would be interesting.
@jp3chicago probably because of stories like this
http://www.straightdope.com/columns/read/551/did-general-motors-destroy-the-la-mass-transit-system
yeah i mean just something as simple as installing all the trains with rubber wheels would be a huge improvement in the noise department
“Why is it that when cribchatter discusses Rogers Park everyone has reasonable commentary but when Uptown comes up, people decide to just shit all over the neighborhood for hours on end?”
You are right, Andy. They are equally shitty places to live.
“How about looking forward as the forefathers did 100 years ago ”
You think that there’s a chance of private investors taking the CTA back and investing in new, better, technology, even if given an absolute franchise AND proxy condemnation powers? Because the forefathers of the CTA were all private businessmen.
“something as simple as installing all the trains with rubber wheels ”
Replacing all the track is simple? Who’s providing you with a completion bond?
“Bottom line is statistically, unless you’re actively in the drug trade, your chances of dying from a gunshot wound in Uptown, Rogers Park, Logan Square, or almost any north/northwest neighborhood in Chicago is significantly lower than dying in a car wreck from the added miles one would put on their car living in Naperville.”
True statement of the month. (Seriously. Research backs this up.) Thank you, Andy. If only more people would base their opinions of various neighborhoods on statistics instead of letting emotions and holier-than-thou notions of what it means to be a good parent get the best of them.
“The area is still fortunately heavily populated by Orthodox Jews, along with large populations of Hindus and Muslims, all of whom are positive for the neighborhood.”
This place is far larger and cheaper than the project the Chabad Lubavitch sect just defaulted on in the Gold Coast, that made all the RE headlines, but this location wouldn’t work because the main purpose of the Labavitch trying to do the Gold Coast project was to stick-their-finger-in-everyone’s face with that location. This would’ve served them far, far better, if their goal was truly to serve religion and God.
“Sticking fingers in the face(s)” of the established powers-that-be is one of the goals of ANY religion. It’s also known as “comforting the afflicted and afflicting he comfortable.”
It’s also known as missionary work or
evangelization (the latter word applying to Christians).
I like this house a lot. It needs some remodeling… but overall I agree with the other poster. The right situation this would work really well. Imagine if you had three kids and in-laws as well as many visitors from overseas who stay for long periods of time this would work. (That’s my parents situation:) The monthly maintenance is the tough part.
Yeah Jason but the other flaw with that idea is that you have to live under the same roof as your extended family for 365 days a year. That could be a bigger hassle than the monthly nut….
The Pratt mansion is now the top google images search result for Terrafeuga. Thanks to cribchatter. Hehe.
I live near by, and that “mansion” seems to be inhabited by a new family. My wife saw the interior and I guess it was kind of funky upstairs, as it used to be a school, and the upstairs is more like a dorm, than a “mansion”.. so it will take a little $$$ to fix up. The past owner was a real estate hustler from what i gathered, and i wouldn’t be surprised if he actually didn’t do well with the building, milking it for $ for other real estate ventures, then doing the foreclosure bit. (only a guess)
Re: WEST RIDGE, I live in West Ridge, and have for the last 20 years or so. I like it. I think it has a lot going for it. It’s near the beach, has two great parks (Warren w/ a golf course & Indian Boundary), near Evanston and is near the Metra North LIne stop (20 minutes to the loop). I love the housing here, there’s so many great 20’s vintage (2000+ sq ft ) apartments as well as tree-lined blocks of houses. I’ve read on some otherwise-knowledgeable posts here that this area has somehow suffered from an influx of transients types or what-not… and I just don’t see it, (not at all) and i’ve lived here 20 years. Yes, 5 miles away, in East Rogers Park (near Howard) (Juneway jungle, etc.) it does get a little “funky”, but all the areas that I’m aware of in West Ridge are so quiet, and crime-free.. that if it has any fault, I think it’s that it might be considered too boring (for some).
Me, I like West Ridge; I love the housing that you can get here, (huge affordable vintage apartments and/or houses on huge oversized lots) and I love being a bike ride away from the beach (for me, that’s very important!) and it’s near Evanston, which is great for shopping and going out, and I didn’t realize it when I first moved here, but being next to Warren Park (where I live) is a great attribute, .. and would be even more so for a golfer or a dog owner. The park is totally safe, and quite beautiful and great to go to for walks year-round. ( there’s ice skating in the winter).
For some, however, I think the real advantage of this area, besides the affordable housing and lack of crime, might be the near-by North LIne Metra stop (“Rogers Park”) (again, 20 minutes to the loop). When you think of it, it seems that every area that has a stop on the Metra North line has done well: Andersonville, Lincoln Square, Clybourn (as well as, of course, the whole North Shore), so, it won’t surprise me if this area is next.
Anyway, my read on West Ridge.