1888 4-Bedroom Queen Anne Victorian in Andersonville Sells: 1450 W. Summerdale

Thanks to those who pointed out that this vintage Queen Anne Victorian house at 1450 W. Summerdale in Andersonville that we chattered about in September 2010 recently sold.

1450-w-summerdale-approved.jpg

See our September 2010 chatter here.

The 4-bedroom house was apparently restored and many of the original features were preserved including wood moldings, the grand staircase and the jewel toned leaded glass.

It also had an artist studio on the top floor with a private bath.

The house had central air, a two car garage and was on a coveted 50×125 double lot that was just a half block from the shops/restaurants of Andersonville.

In September, there was a heated discussion on the final selling price on this house.

Many of you thought the double lot alone qualified it to close at least in the upper $800,000s if not close to the asking $925k price.

Some of you were more bearish and thought this was a $700k to $800k price range house due to easy credit going away (i.e. affordability issues for most of the house buying population) and its location near a lot of rental stock.

It ended up selling for $102,000 under the original May 2010 list at $837,000.

Did someone get a deal for the double lot and location?

Susan Lawrence at @Properties had the listing.

  • Sold in August 1988 for $275,000
  • Sold in November 1992 for ??? (could be $565,000– there’s a typo in the public records)
  • Sold in February 2001 for $710,000
  • Originally listed in May 2010 for $939,000
  • Reduced
  • Was listed in September 2010 for $925,000
  • Sold in December 2010 for $837,000
  • Taxes of $8551
  • Central Air
  • Bedroom #1: 14×13 (second floor)
  • Bedroom #2: 12×10 (second floor)
  • Bedroom #3: 11×8 (second floor)
  • Bedroom #4: 29×23 (third floor)

29 Responses to “1888 4-Bedroom Queen Anne Victorian in Andersonville Sells: 1450 W. Summerdale”

  1. groove called it; anon and alanon held it down. its a beautiful home; if anything in this city is worth close to a 1M; this would be a better choice that something at, for example, museum campus.

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  2. dahliachi also called it.

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  3. this soothsayer (sp) will now charge $5 for any more witchcraft predictions.

    kudos to the new owners for having taste and stlye, i am free for any dinner parties and will bring my magic eightballz for entertainment and love advice. (still will be a $5 charge)

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  4. I think the buyers got a pretty good deal. It is hard to come up with good comps for such a unique house.

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  5. Actually I didn’t call it. I think I said I’d be surprised if it went for less than 800 or so. I actually thought it would go for closer to 875k.

    But then again. I have notbeen inside or seen the inspection report.

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  6. If we’re playing by the price is right rules dahliachi got it right with a tad over $825k. Bob Barker would be proud.

    Groove was too high with the $850k and too low with the “15% off 925k” which is $786.

    I said 700k or 800k and it closed for $837. I went up to without going over just like the price is right but I still came in 2nd place.

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  7. gringozecarioca on January 4th, 2011 at 2:57 pm

    Something I never said on CC… Been scrolling through the past months of posts… Stuffs starting to look cheap.

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  8. dahliachi:

    “I think this house should be able to fetch a bit more than $825k.”

    http://cribchatter.com/?p=9257#comment-90448

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  9. “Groove was too high with the $850k and too low with the “15% off 925k” which is $786. ”

    nobody called spade and neutered rules, and the 15% off was for the comp somebody ref to

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  10. “I said 700k or 800k and it closed for $837. I went up to without going over just like the price is right but I still came in 2nd place.”

    Doooode, you also said:

    http://cribchatter.com/?p=9257#comment-90328
    “Regardless, this is not a $900k house or even an $800k house. It’s probably a $700k house, maybe even a $600k house given the large down payment needed to purchase it.”

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  11. its a band or so says jmm. also anon was saying it without specifying a number ala g

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  12. moreover was referencing groove in buyers shoes

    “#
    Groove77 on September 8th, 2010 at 12:18 pm

    If i wanted/need to live in this area and had the money i would pay 875k for this without a sliver of remorse (ok maybe 850k 25k reduction for having to redo the landscaping to my liking and changing that green and poop exterior color).

    vintage details, shyte details in general, like this are hard to come by and to own such artistry would bring levels of pride to ones self. and better paint color could accent these details even more.

    the place is even more sweet azz because it has C/A in a queen, plus the double lot for even more light and fresh air makes it even more of a “want” home.

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  13. That place on Lakewood also sold for over a million, which was more than ask.

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  14. It’s like throwing a pizza at the wall and hoping that something sticks.

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  15. Wish I had the financing details on this. For some reason I’m suspecting (perhaps as usual) that this buyer who thought this was indeed worth 840k didn’t bring a substantial downpayment to the table to support this price.

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  16. “It’s like throwing a pizza at the wall and hoping that something sticks.”

    It’s called a range™.

    Also, congrats to the new owner who posted on the previous thread. It’s got to be one of the more positively reviewed places on CC.

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  17. “For some reason I’m suspecting (perhaps as usual) that this buyer who thought this was indeed worth 840k didn’t bring a substantial downpayment to the table to support this price.”

    or they first bid 15% off and the counter was 5% and the counter to the counter was 10% off and agreed to 9%.

    top of head math sorry if i am off….ANON (ufo)

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  18. Bob I’m sure they did bring a substantial down payment. It’s a nice folk or gingerbread victorian. i’m not the victorian expert so maybe gingerbread is the wrong term but it’s a nice home and apparently the sellers put some substantial money into it. This is a classy home. My comment on the 600k had to down the payment payment size but I never knocked the home itself. The only way to wreck this home is to decorate it with victorian furniture. ergh. It’s OK to do the victorian shell with a modern interior, if done correctly. there is no way to correctly do victorian interior – it’s all puke right up there with rococo.

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  19. Well, A’ville is hot and the old nice single family homes there are hard to come by. Great hood and great place. Everyone doesn’t drool over LP/Lakeview. I’d take this home any day of the week over the McCrap in the other neighborhoods.

    The Alt-A low down payment jumbo loans don’t really exist anymore. 20% minimum and you if you really want good rates, you need 25% down. There are a few portfolio lenders who will do 10% down on jumbos but the rates are high (relatively speaking), the appraisal scrutinized to the nth degree, and you can’t be a first time home buyer, debt ratios pretty strict, etc.

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  20. Also not this listing for 706 Roscoe (which was in the old chatter’s comments) has also sold recently, Sabrina. $1.425 mil, down from the asking of $1.575.

    http://www.redfin.com/IL/Chicago/706-W-Roscoe-St-60657/home/12562779

    As far as this Andersonville house? Absolutely love it.

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  21. “Something I never said on CC… Been scrolling through the past months of posts… Stuffs starting to look cheap.”

    That’s because you’re in Rio now Ze. It’s like when San Franciscans move to Chicago and they can’t believe their luck when they see the house prices. 🙂

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  22. danny (lower case D) on January 4th, 2011 at 9:02 pm

    The double wide lot is just frosting on a (very yummy) cake. Well done buyer.

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  23. Thanks again to all the CC folks! I am the lucky new owner and am happy to discuss the financing, appraisals, etc to anyone who is actually interested. Good deal or not, I friggin LOVE this house! It’s worth every penny to me.

    And to the poster who thinks I didn’t bring much of a down payment to the table? Not sure what a large down payment is to you, but I brought plenty to the table in cash.

    Thanks again CC!

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  24. Yes, doczie, tell us all the stories, inquiring chatterers want to know.

    congrats again, will be over shortly with some GL & PN

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  25. Now please tell us you’ll be staying put for as long as you possibly can and it will all be good. 😉 Someone who loves their home like you do and stays there for as long as they can are the ones who make a neighborhood.

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  26. Congrats doczie! It’s a beautiful home.

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  27. “And to the poster who thinks I didn’t bring much of a down payment to the table? Not sure what a large down payment is to you, but I brought plenty to the table in cash.”

    doczie,

    My statement wasn’t aimed directly at you and I didn’t mean it to be personal. It is a beautiful home and for that I congratulate you for it. I know you will enjoy it as you should.

    My statement had more to do with my hypothesis of how a large percentage of home sales are getting done at different segments of the market. I should have used better phrasing as even a small percentage down of a purchase such as this is a significant sum and I admit that. I should have phrased it in terms of percentage of downpayment as that is more objective, will either prove or disprove my hypothesis.

    Instead I’ll ask the mavens here who are quite skilled at querying records as I don’t want to put you on the spot regarding the financing terms. I know you offered but I’d feel a bit of a hypocrite asking you something that I myself would be uncomfortable answering if the tables were turned. Congratulations again it is a very beautiful home.

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  28. Thanks again for the feedback. Who wants to come for an ‘open house’ before I get my stuff moved in March?

    As for the financing? Here’s the nitty gritty:

    I brought 20% down in cash. Financed $417K conventional for 4.5% fixed 30yrs, and a HELOC for 4% (250K). Monthly is manageable as long as the taxes don’t get insane.

    Yes I plan to stay put as long as I can. I’ve lived in this area for 9 years and love it. I shop/dine etc in the ‘hood, know many store owners by first names, and feel a part of this community.

    I got an appraisal during the loan process for $940K so for whatever those are worth, it made me feel like I got some value in the deal.

    I have a great 2brdm condo I need to unload in Aville…. anyone wanna buy it? It’s right across the street from another aville prop you all chattered about recently (5301 Paulina). I am stunned the units across the street from me went for such high prices. I mean… wow. My unit is bigger and IMHO nicer and I didn’t think it was worth listing b/c I never dreamed I could get anything over $350K in this market. Apparently people DO wanna buy condos in this area and will pay a lot for them.

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  29. grats man thats a damn fine home you got there

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