18 Months and a $75K Reduction Later for This Sheperd’s Cottage: 2235 W. Homer in Bucktown
We last chattered about this 4-bedroom Sheperd’s Cottage at 2235 W. Homer in Bucktown in February 2011.
See our February chatter here.
We’ve chattered about this house several times, especially when there was another Sheperd’s Cottage on the market on the same block, at 2233 W. Homer, in 2011.
The other house was a 3-bedroom (not a 4-bedroom) and it sold in October 2011 for $615,000.
See our chatter and pictures on that house here.
In our prior chatter on this house, many of you simply believed it was overpriced and that $650,000 would get it done.
In the 18 months its been on the market, it has only reduced to $775,000.
Built in 1878, 3 of the 4 bedrooms are on the second floor which has cathedral ceilings.
The fourth bedroom and a family room are in the finished walk-out lower level.
Some of the vintage features have been preserved including original stained glass, crown moldings and mahogany inlay in the dining room.
The kitchen has stainless steel appliances and granite counter tops.
Built on a 24×100 lot, the house has a 2 car garage and central air.
What will it take to finally sell this property in 2012?
Robert John Anderson at Baird & Warner still has the listing. See more pictures here.
2235 W. Homer: 4 bedrooms, 4 baths, 2 car garage, no square footage listed
- Sold in June 2001 for $250,000
- Sold in May 2005 for $648,500
- Sold in July 2008 for $831,500
- Was listed in July 2010 for $850,000
- Reduced
- Was listed in November 2010 for $829,900
- Reduced
- Was listed in February 2011 for $799,900
- Reduced
- Currently listed for $775,000
- Taxes of $8394
- Central Air
- Bedroom #1: 19×16 (second floor)
- Bedroom #2: 15×14 (second floor)
- Bedroom #3: 12×7 (second floor)
- Bedroom #4: 16×11 (lower level)
They are cutting their ask by relative pennies but when the initial purchase price was 832k they are definitely in dollar territory. I hear a jingling envelope in their banks future.
Agreed, Bob. Looks like it was renovated between the 2001 and 2005 sale (or at least I’d hope so, given the jump in price) and I don’t see it going over the 2005 price. In this market, even that might be aggressive.
The 2008 price seems crazy high and that’s got to be the holdup. I think this would sell at $675K or maybe even a bit higher. But they probably don’t want to sell at that price, at least right now.
Also, shepherd not sheperd, as in the herding of sheps (or was that goats).
We saw this a loooong time ago. It’s an odd layout. IIRC, that shape in the kitchen on the left over the sink is a cut out to a small space behind it and there is a full bath behind the kitchen (directly behind the room with the cut out) in case you feel the urge to take a bath while you’re getting dinner ready. The layout generally does not seem workable on the first floor with a modest complement of actual non-staging furniture, it must have made sense to someone but not to us. We were also not at all keen about the play area right behind the house and the associated noise. Cute vintage exterior but no character inside if that’s what you’re looking for. I can’t play name that price well, but fro what they are asking, one could do way better. The timing is highly unfortunate for these sellers.
“there is a full bath behind the kitchen (directly behind the room with the cut out) in case you feel the urge to take a bath while you’re getting dinner ready”
But there are still two baths up, yes? In which case it doesn’t seem like that huge a problem. But still an odd layout choice (especially with a full bath in basement and no obvious guest room on main floor) in a house that small. Maybe it was already there and the master bath/suite got added at some point?
“We were also not at all keen about the play area right behind the house and the associated noise.”
I’ve been to the play area a few times with my kid. Never liked it that much, for reasons I can’t really put my finger on.
They’ve only discounted it $24k in the past year. It’s obvious no one is going to buy it at this price. I don’t understand why sellers like this even bother.
jenny its free to keep a listing up at an unrealistic ask price. It was like when I demanded a 30% raise this year…but I settled for 15%. 😀
Too bad for these owners their market number requires more cash to bring to the table than they are likely willing to bear. They aren’t likely the high-flying urbanite ballers they thought they were a mere 3 years ago.
Disagree strongly with the notion that there is no cost to an unrealistically high listing price. A long listing history has serious costs to the market desirability of a property — this is not news to anyone looking to buy. Of course, there is evidence that the anchoring effects of higher listing prices can increase sale values also, so it’s a delicate balancing act — this is not news to anyone with skin in the game listing a home for sale.
The sellers probably can’t afford to take a loss. I described their situation in one of the many threads of this property.
Looks like an average self-produced home renovation done by/for an architect relying upon Home Depot materials. For most non-independently wealthy architects, it’s as good as it gets. Sabrina, there’s an interesting 2-flat reno SF house on Highland in Edgewater that is more interesting than this house.
I always wondered what this particular architectural style was called. I first saw it in a cluster of houses near Ogden and Western. See 1307 S. Claremont, using Google Maps Streetview, for example. Almost remind me of a rocket ship tacked onto the front of the property. Compare this house to these west side places… I bet the Claremont ones wouldn’t even sell for the $75k that this Bucktown Shepherd’s Cottage has been reduced by.
oh, HERE. Style is so similar, but these have a bay in front.
http://www.redfin.com/IL/Chicago/1309-S-Claremont-Ave-60608/home/14087905
1309 S. Claremont, Sale Pending. Listed at $50k.
Look at the property history.
” See 1307 S. Claremont, using Google Maps Streetview, for example.”
Nevermind streetview, the neighbor is currently pending:
http://www.redfin.com/IL/Chicago/1309-S-Claremont-Ave-60608/home/14087905
unfortunately, generic “high end” finishes in a nice vintage exterior. not compelling at that price or anywhere close to it.
Sold for $717.5.
“Sold for $717.5.”
Thanks for the update DZ. I was recently wondering about this property. It was on the market for 2 years!
Still- it sold for more than I thought it would. I thought it would go in the $600,000s given what some neighboring houses have sold for recently.
“I’ve been to the play area a few times with my kid. Never liked it that much, for reasons I can’t really put my finger on.”
DZ–just saw this comment from a while back. We went to the park behind this property a few weeks ago and also didn’t really enjoy it–and, for us, it’s because the people in the park weren’t friendly at all–wouldn’t even make eye contact. Compare that to Palmer Square park, where I’m always meeting at least one new family every time I go with my daughter–we’ve become friends with quite a few families that we’ve met over there. The two parks are like night and day.
“We went to the park behind this property a few weeks ago and also didn’t really enjoy it–and, for us, it’s because the people in the park weren’t friendly at all–wouldn’t even make eye contact. Compare that to Palmer Square park, where I’m always meeting at least one new family every time I go with my daughter–we’ve become friends with quite a few families that we’ve met over there. The two parks are like night and day.”
Yeah, I’d agree with that. I also like palmer a lot, in part b/c things are spread out so the kid craziness is spread out. And therefore a little easier to socialize perhaps.
I’m biased but I like haas too–the new fieldhouse is v nice for kid programs, and did you hear man city is now a major donor. Little hard for me to tell what haas is like for an “outsider”, as my son is there all the time, but I think pretty friendly.