13 Months Later And Still Waiting For a Buyer For This 3-Bedroom Portage Park Bungalow: 4054 N. Lawler
We last chattered about this 3-bedroom vintage bungalow at 4054 N. Lawler in Portage Park in August 2011.
See our prior chatter here.
No surprise, but most of you thought the house was overpriced for a property that still needed some work (especially going up against rehabbed foreclosures with everything “new.”) Many thought it should sell around $250,000.
Also, some of you thought for the price you might as well buy in Oak Park instead.
Since August 2011, it has been reduced another $19,000 to $345,000.
If you recall, the house was built in 1921 on a 40×125 corner lot.
At 1707 square feet, all 3 bedrooms are on the main level.
It also has a large 28×14 attic space.
The house has some of its vintage features including french doors in the living room, built-in bookcases and natural woodwork around the windows and the doorframes.
However it doesn’t have central air and the listing says it has “some” newer windows.
The kitchen also does not have granite counter tops or stainless steel appliances- instead it has regular counter tops and white appliances.
Does this house still suffer from in-between-itis (not a “deal” as a short sale/foreclosure but not renovated up to the standards of the rehabs?)
Janet Robertson at Century 21 McMullen still has the listing. See the pictures here.
4054 N. Lawler: 3 bedrooms, 1.5 baths, 1707 square feet, 2 car garage
- Prior sale before 1988
- Sold in June 2006 for $380,000
- Originally listed in March 2011 for $374,900
- Reduced numerous times
- Was listed in August 2011 at $364,000
- Reduced
- Currently listed at $345,000
- Taxes of $4253
- No central air- window units only
- Bedroom #1: 14×11 (main level)
- Bedroom #2: 14×11 (main level)
- Bedroom #3: 12×9 (main level)
- Attic: 28×14
wow how much has changed since August.
HD: “milkster: I prefer to stay in old irving, the villa, independence park, forest glen, edgebrook, etc those types of leafy areas with wider lots near the metra or the el (and the highway!)”
Poor Portage Park. Between the distressed sales, foreclosures, and drooping property values, compounded by recent increased gang activity, Portage Park is wobbling. It’s not an alternate hip “Old Irving Park”-type gentrifying neighborhood now. Lot of problems at night clubs on Milwaukee and Irving Park.
“wow how much has changed since August. ”
Which one is the obfuscation, and which one is true?
My vote is that both are obfuscation and HD moved to Oswego.
@Architect, I can only assume you are trying to sell property in a neighboring area. Portage Park is fine. Only someone without any historical perspective would think there is “increased gang activity.” As for the clubs on Irving Park and Milwaukee . . . right. Apparently you’ve never been to a place with actual problems.
That being said, they paid too much for that place in 2006 and want too much for it now. $380,000 without air or new windows? Bad call.
Stating the obvious here, BUT:
Per redfin, the most expensive sold comp was $272K–and that had and extra bed, 1.5 extra baths, central air, and an updated kitchen. What more do we need to know?
I like this home a lot and think it is very cute. However as mentioned above, at $345k you can get a nicer home in Oak Park which is a nicer location than 6 corners.
It is hard to feel bad for the sellers when they paid nearly $400k for this home which seems crazy, but I sure feel bad for the home. It deserves someone to love it and not end up as a foreclosure that has been ransacked.
ChicagoD: I’ve been following Portage Park because last year I considered buying there. I’ve been reading the crime stats. I know the north/northwest side neighborhoods well, just don’t have rose-colored glasses.
Portage Park is fine for the masses, but it’s not an solidly middle or upper middle class area by any stretch of the imagination. Most definitely not an alternative to Old Irving; first of all the lots are smaller, the homes are newer (fewer grand victorians or four sqs); the demographics are far different and it’s not as accessible to transportation. If I had to compare portage park to a suburb I’d call it des plaines. safe, decent, but not exactly a town that would be called desirable or hip. more like dropped into the lower class rather than holding steady.
“I like this home a lot and think it is very cute. However as mentioned above, at $345k you can get a nicer home in Oak Park which is a nicer location than 6 corners”
yes but at 11k a year taxes in OP that will be going up next year 😉
“ChicagoD: I’ve been following Portage Park because last year I considered buying there. I’ve been reading the crime stats. I know the north/northwest side neighborhoods well, just don’t have rose-colored glasses”
crime has gone up in portage, south and south east of the park, yes. crime has gone down north and northwest of the park. again crime has gone up all over the city so its really not an issue.
for comparative sake, crime in OP got out of control last year in Oak park (out of control for Oak Park standards). And crime in OP before 10pm grew, as crime on the NW side before 10pm fell leaps and bounds.
that said, if i remember you have teens in your household, so crime after 10pm SHOULD be your concern. but folks like the Groove are in bed by 8:30pm so im am good.
Crime is down in Chicago, other than homicides in the ghetto. Those have skyrocketed unfortunately.
“Crime is down in Chicago, other than homicides in the ghetto. Those have skyrocketed unfortunately.”
I believe the stats are juked, that’s what I believe. I see the deterioration of neighborhoods before my eyes, I don’t need the compstat figures to tell me crime is down when my own eyes tell me crime has skyrocketed to epic and cataclysmic level.
“Crime is down in Chicago, other than homicides in the ghetto. Those have skyrocketed unfortunately.”
thats why i said crime is down, gun violence is up, and killings in the rough hoods rarely ever goo down for long.
“I don’t need the compstat figures to tell me crime is down when my own eyes tell me crime has skyrocketed to epic and cataclysmic level.”
there he is, the “sky is falling” HD that we grew to love.
Getting back to the featured property…
“does this house still suffer from in-between-itis (not a “deal” as a short sale/foreclosure but not renovated up to the standards of the rehabs?)”
Yep, you have a Perfect Storm in the bad way. Let’s assume this current price is at least within the range of what people who want to live in Portage Park are willing to pay for a property. You’re listing at the high end of that range. Assuming the person who would buy this qualifies for a loan, it’s probably the maximum amount their credit and income merits. Therefore they don’t have much room for additional fundage in terms of a construction loan or EZ FHA 203. They are not exactly handing out HELOCS like they did in the boom either.
I don’t recall what mandatory work this place needs (roof, mechanicals) versus nice-to-have (updated kitchen, bathroom) and expanding the living space. How much would it cost to bring it up to the level of recently rehabbed? If its significantly higher than what the person who wants to live in Portage Park can afford, this house won’t sell at the current list price.
@Grove, I know, I was just stating that homicides are up significantly in the worst parts of the City.
“@Grove, I know, I was just stating that homicides are up significantly in the worst parts of the City”
and because shootings and gang violonce is up in the worst parts of the city, police from the NW side are being relocated there which in turn the other area’s crime will go up.
if rahmfather came to us and said we are going to raise property taxes and sales tax and all of the increase will go to extra police MAN POWER then i will be the first backer on that.
“if rahmfather came to us and said we are going to raise property taxes and sales tax and all of the increase will go to extra police MAN POWER then i will be the first backer on that.”
Nothing like that can/will happen before there is a pension fix for *every* city union. First one up is CTU this summer.
“Nothing like that can/will happen before there is a pension fix for *every* city union. First one up is CTU this summer.”
yeppers, and CTU is already saying STRIKE. Des Moines here i come.
Hey Gary, nice blog post!
http://www.chicagonow.com/getting-real/2012/04/should-you-hire-a-hot-real-estate-agent
“Crime is down in Chicago, other than homicides in the ghetto. Those have skyrocketed unfortunately.”
Homicide is the one crime that is difficult to under report. When your COMPSTAT strategy has more officers confined to fixed posts at drug spots, or small geographic boxes in busy districts, the amount of officers responding to calls district-wide goes down, and the amount of people who get tired of waiting around to report a crime and simply give up goes up.
Rather than looking at murder rates, I’m looking at graffiti, hoodies hanging-out, muggings and purse/phone snatching, “bad tenant” buildings, and gangbanger casualties. Portage Park’s had a couple recent shootings and stabbings associated w/its night clubs. Cops are too stretched to sufficiently patrol area. It’s not East Rogers Park or Uptown in activity, but Portage Park isn’t trending towards gentrification by dual-income white-collar professionals (like Old Irving Park). There’s Section 8 related problems in many northwest-side areas due to relocation of former CHA tenants; plenty of news articles related to this topic.
Also had lunch recently w/exec who lives in Lincoln Park and is concerned father of several teens. Got an earful regarding street-crime in LP and at Fullerton El stop. Don’t think that crime is dropping in Chicago; street-crime and burglaries are definitely increasing, often under-reported, and with arrests sometimes leading to lesser charges. An under-age mugger or shoplifter (flash mob) is unlikely to be charged, and very likely to be simply released to custody of parent at station. Delinquents know this.
“if rahmfather came to us and said we are going to raise property taxes and sales tax and all of the increase will go to extra police MAN POWER then i will be the first backer on that.”
The Rahmweasel will do whatever he thinks is good for himself. He’s like Bill Clinton who made exective decisions based on “polling data”. Rahm is self-absorbed, he’s merely sitting out some time in Chicago in this role. Rahm doesn’t want to be “mayor of Chicago”, he wants to get back into the WashDC game as soon as possible, so his decisions here will reflect whatever makes him look good to Democrat national types.
“There’s Section 8 related problems in many northwest-side areas due to relocation of former CHA tenants; plenty of news articles related to this topic.”
there is a section 8 housing right across from Merrimac park on ‘ganssette. oddly the first run through of tenants got the boot but the new ones since have been really great, from what i heard there have been no problems in the past 3 years or more
“and very likely to be simply released to custody of parent at station. Delinquents know this.”
i think its the first two or three its parent pick up. back in my day you could stretch that further and if you have cops in the family like i do there is no limit and your parents dont pick you up.
for the same price, you could get this waay nicer place a little further west …
http://www.redfin.com/IL/Chicago/5522-W-Berenice-Ave-60641/home/13462547
It’s also overpriced (I’d say it’d go at $310k) and the realtor likes to play games w/ the MLS by constantly raising/lowering the price. This Lawlor place, however, isn’t worth more than $250k, tops.
“but Portage Park isn’t trending towards gentrification by dual-income white-collar professionals (like Old Irving Park). ”
OIP is more or less completely gentrified. It’s a nice little area, I love it here, but, I don’t have the luxury of time for the schools to improve.
Rahm: he’s going to be around for a while. He knelt before the king, kissed the ring, pledged his fealty, performed the livery of seisen, and henceforth became lord of the fief ‘Chicago’. He has to supply troops to support the king when he visits for his taxes and levies (i.e. NATO G-8 summits etc) and in return our benevolent lord rules with absolute authority. He’s not bad, he ‘gets’ it I think, because at the end of the day, politics aside, he’s a transplant from the suburbs just like most of us (except grove) and he’ll do his best not to run the city into the ground like some of his predecessors. It’s good to be king, that’s why Rahm will be lord of this fief for a while.
IMHO now that logan is becoming gentrified, and OIP is completely gentrified, the missing link is avondale. Fortunately that neighborhood has a lot of rentals, and has already started to attract the hipsters priced out of logan (at least those that won’t move to Pilsen)….I put my money on Avondale making the gentification leap in the next 10-15 years with Irvign Park filing into, and then on to jeff park and albany park, but that’s 20 years away, right in time for my early retirement…
“he’s a transplant from the suburbs just like most of us (except grove) ”
you think i’m a transplant from the suburbs?
In June of 06 the real estate market was starting to tank and you paid a price that was more reflective of the neighborhood in 2003, 2004. Since then real-estate has dropped at least 30 percent, if not more in Portage Park due to high foreclosures and the fact that crime has greatly increased in that area. Yet, you only dropped the house 30,000. Realistically, drop it a hundred grand and you should sell. I sold my house in Portage Park in 04 at the very height of the market, the same house today is worth 200,000 less. How do I know, because I know the folks that bought my house, they are under water and tried to refi. No luck, The house appraised at nearly half of what I sold it for. LOWER YOUR PRICE …..
“you think i’m a transplant from the suburbs?”
Ok sorry, Iowa, Missouri, indiana, wisconsin or Ohio. Which is it?
The “sister” home sold for $775K year and half ago. Builder is v active in bucktown/wicker. Haven’t been in this one, but like the layout of his homes a lot. Don’t like whatever the exposed interior block material is, which he used a lot. Thought it was maybe dryvit at one point, not sure.
http://www.redfin.com/IL/Chicago/2021-W-Cortland-St-60647/home/13356340
Sorry, wrong thread.
Native Portage/Jefferson Parker here. The area is fine.
“Native Portage/Jefferson Parker here. The area is fine.”
had a Kings gyro on monday, still the best