2-Flat Lincoln Park Painted Lady With Charm: 2643 N. Wilton
This 1884 2-flat Queen Anne at 2643 N. Wilton in Lincoln Park has been restored with new baths, new wiring and zoned HVAC.
It also has beautiful vintage features such as stained glass and pocket doors.
Only the land seems to be more valuable than the house as the listing says you “can build 6 residential units on 50 x 125 RT4 lot.”
The vacant lot right next door to this house just sold last week for $700,000.
Will someone buy this vintage home to live in or will it be torn down to become new condos?
Mario Greco at Rubloff has the listing. See the virtual tour here.
See the property website here.
See the floorplan here.
2643 N. Wilton: 2-flat, 4 bedrooms, 3.5 baths, 2 car garage
- I couldn’t find an original sales price. It’s had the same owner since 1987.
- Currently listed for $899,000
- Taxes of $9,029
- Central Air
This should be converted to a SFH; there’s no market to tear this down and build a six-flat.
It is essentially a SFH. The basement is a self-contained 2bd/2ba apartment that is easily made contiguous with main living space
If the lot next door sold for $700k, why isn’t this one $1.4mm? Or was that vacant lot half of the 50′ wide lot this sits (sat) on? Because there only appears to be *one* vacant lot on the east side of Wilton.
The vacant lot was half of the 50′
What a horrid POS
Very cool place. Dont tear it down yet! Nobody wants to buy McCrap box overproced condos.
What’s the catch? This place looks fantastic for the price.
“The vacant lot was half of the 50?”
Thx. But too bad; you’d have had a buyer.
Ask Sonies
Now that what i am talking about, A HOUSE WITH CHARACTER, it has soul. Did you see the wonderful stained glass. I am strangely attracted to that kitchen with the diner style checkered floor. (the apple green walls ewww). I know the paint job on the outside is a tad “hippie with ADHD on riddlin and ambien” but i think it work with the house’s vibe.
I hope it doenst get turned into a same ol new developement stuff out now
colorful place
Also, MG, any idea on the buyer’s plans for the vacant? Would certainly affect interest in this place if they were building a max-size 3-unit condo bldg.
Neat place. Kudos for retaining so much “character”, although the (presumably close to original) floorplan is awfully chopped up with too many 7 foot wide rooms. Part of the “charm” I guess. Would be a shame to tear it down.
does anyone believe the land value of a 25′ lot is $700k?
The buyer of the vacant lot will be building a 3-flat condo building. As for land value, $700k is actually a great deal for the buyer. 1024 or 1042 Wrightwood just closed for $735k – same lot size and same zoning.
I say SFH. What a neat place. I hope it doesn’t get torn down. Developers have marred a lot of the north side with their awful cinder block boxes.
“The buyer of the vacant lot will be building a 3-flat condo building.”
That sux. Lose all that light on the southside of this house.
Bring on the cinderblock 3-flats! Tear down our history!
Seconding Bluestreak. What a cool place.
Hopefully all the pickup truck developers will now go bankrupt and out of business due to no longer being able to borrow money for free and flip houses at 10% appreciation/annum.
Chicago could always use a few good bartenders..
Another q, MG: would there be any backyard left after putting in a garage to replace the one that went with the vacant lot?
There is plenty of room to put in a garage. However, doing so will leave you with a very typically small city back yard.
What a charming, colorful old place. Half the charm of Lakeview resides in places like this.
But a number of glorious old Victorian houses and flats got razed to make way for the famous cinderblock condos, built clear to the lot line, no less.
What’s the zoning for this place?
Let’s hope all the developers go broke and this lot gets rezoned for SF only. No RT4 or other multifamily. If anyone who lives near this house and wants it preserved is reading, go to work getting the zoning changed to Single Family or 2-flat.
“If anyone who lives near this house and wants it preserved is reading, go to work getting the zoning changed to Single Family or 2-flat.”
No way that will happen–it’s completely surrounded by RT-4 zoning and it’s not good practice to have one-off variations in zoning without a specific basis.
The house is an “orange” building under the City’s historic preservation ordinance. Won’t stop anything, but does make it somewhat harder–possibly way the buyer of the vacant lot didn’t buy it all.
Definitely has character. I wish I could see the front detail a little better/closer.
given the new construction junk I’m even seeing now go for $500 – $700K, this is a steal given the lot size. seller must have pressing financial needs…
“this is a steal given the lot size.”
It’s only the single lot, now, skeptic. The other 25′ sold for $700k.
The question is will land values hold up if these McCrapBox 450k+ three and six flat condos aren’t selling?
I think the days of pickup truck developers driving up land values are over and we could see some real land price deflation now.
There goes the driveway (sold for 700K). Wonder how the new owner will park their two cars.
I called to confirm. It’s a single lot 25′. The other remaining 25′ shown in the picture and written on the listing is under contract.
$900k including the lot would be a good deal. Without the not it’s overpriced.
$899 might not be bad but whoever buys it has this to look forward to: your matching garage will be bulldozed on the lot next to you and you’ll have to build a new one. Then you’ll have a condo building put 6″ from your house. Oh, and you’ll have to face that green kitchen every morning (puke) or repaint.
“$900k including the lot would be a good deal. Without the not it’s overpriced.”
Given that the lot sold for $700k, it would have been a screaming deal. $899k for a livable house in 60614 on a double lot would have had me *seriously* considering moving.
While I think housing costs will be going down a bit more over the next few years, I don’t think ‘land prices’ will follow the same route. If anything, they *should* increase greatly so as not to let overdevelopment happen or continue to happen, esp in areas such as this.
That said, I would have a very very thorough home inspector go over this place with a fine toothed comb. No telling what is under those walls and under those floors. For a place this size to be going for that amount, I am assuming it is an ‘as is’ property needing the equivalent of the asking price for renovations. No way is this a
$299,000 house.
“If anything, they *should* increase greatly so as not to let overdevelopment happen or continue to happen, esp in areas such as this.”
The only reason lots got bid up to the 700k range is the economics of that price makes sense to McCrapBox developers. When you remove the demand for the overpriced three to six flat condos that these developers pump out, theres no way the lots could maintain their land value is my prediction.
Gotta agree with sonies…it is a pos!! It would take so much $$ to rehab that you are not getting anything close to a good deal here.
PASS
“Gotta agree with sonies…it is a pos!! It would take so much $$ to rehab that you are not getting anything close to a good deal here.
PASS”
What, you haven’t fallen in love with the pineapple and other fruit backsplash in the kitchen? The ugly exterior paintjob, Or the cheap lineoleum & cheap laminate floors over 100 year old rotten wood like everyone else? What’s wrong with you?
This place sucks, it belongs in Key West, not Chicago for christ sakes!
“When you remove the demand for the overpriced three to six flat condos that these developers pump out, theres no way the lots could maintain their land value is my prediction.”
Agree completely.
“No way is this a $299,000 house.”
It’s only $199k more than the lot “value”. And it looks to be quite livable, as is (i’d paint every room, but that’s just paint). It could work quite well for an extended family situation (no 1st floor pics, so maybe that’s not as nice). And, if one is convinced that lot values are going to go up, it would be fine.
Oh and don’t forget how in love everyone would be with 7′ and 8′ wide rooms all over the place, having a 3 story condo building right on your property line, and having to rebuild your garage. /BARF
“? and 8? wide rooms all over the place, having a 3 story condo building right on your property line, and having to rebuild your garage.”
These are the principal problems with the place.
“Agree completely.”
Of course–I never made sense of the skyrocketing land values until you told me why. 😉
so they are going to try and build and sell 2.1 million dollars worth of home on the vacant? that’s the calculation from a few days ago. how the hell are they going to do that?
“how the hell are they going to do that?”
They’re probably borrowing the banks money and are going to hope for a housing turnaround for as long as possible.
Remember when your equity is zero it doesn’t mean you get a margin call from your broker in the RE biz–if building is all you know you gamble until the bank comes a knockin’.
That is one bad floorplan. It’s all walls.
The only marginally usable floor is the top floor that has a relatively normal layout. As for the rest – little bedrooms off of dining rooms and kitchen is awful. And the rooftop deck? Looks unsafe.
“so they are going to try and build and sell 2.1 million dollars worth of home on the vacant? that’s the calculation from a few days ago. how the hell are they going to do that?”
3 luxury condos @ $650, $575 and $875 (or something like that). Just like the past 5 years. Some folks are endlessly optimistic.
But the 3x is as much about what portion of the price a “normal” (ie, not a ranch, not waterfront) house “should” be the cost of land; traditionally (ie, per-bubble), it was less than ~1/3. Less than 25% was common–and if that held, the house on this $700k lot would be $3mm–which is obviously absurd.
You’d need both lots (50′) to do 6 units. If both lots cost $1.5MM, that’s $250,000 of land cost alone per condo unit! Assuming they avg. 1800 sf at $130 psf (is this assumption valid?), that’s another $235,000 for hard costs, so they’d have to sell over $500K to make a profit.
If you have RT3 zoning, it’s difficult to make the 3-pack, 6-pack condo thing work. Roscoe Village has RT3 zoning on its side streets and that’s why you never see condo building on them.
What about all those old overlays throughout the northside, that restrict RT4 zoning even more?
(If I’ve gotten any of this wrong, it’s been a few years since I last looked at the zoning code.)
There is no such thing as RT-3 zoning – it’s RS-3. RS-3 zoning requires 2500 sqft of LAND for each dwelling unit so one can’t build more than 1 unit (i.e., house, condo, townhome) for every 25×125 lot (3125/2500=1.25 dwelling units (and you round down)). RT-4 requires 1,000 sqft of land for each dwelling unit – hence the proliferation of 3-flats on 25′ lots. This is aside and apart from height restrictions and setback requirements. Hope that helps.
And overlays have been eliminated and new designations RS-3.5 and RM-4.5 – among other “half” designations – have replaced the old overlays for the most part.
The man knows his stuff! MG, nice work on Hamilton! Almost sold out from what I understand. Good luck with this one. I’ll be sending developers your way when this market turns and I can move some multi-families.
New construction is typically 3X the cost of the land for SFH.
I am so disappointed in what may happen to this property. I love it the way it was a SFH with in-law garden apt, with a wonderful side yard and driveway, stained glass windows, i think great floorplan/layout.
it sucks its most likely going the way of new construction condos 🙁
BTW, this was sold to someone who wants to renovate the existing structure and is not planning to tear it down. It will close by 10/31/2009.
good lookin out MG,
very happy to hear that the new owners wont tear down and build a box (i mean modern) building.
this good news has started the groove’s day off right 🙂
MG
do you know whats going to happen to the lot next door?
Groove:
He said above its going to be a 3-unit condo bldg. Dunno if the past 2+ months changed anything.
Sorry anon didnt re-read the above.
i wish i had some more loot i would have bought the lot and the house in a minute.
I bet Richard Simmons bought this place
Groove: No apology necessary, I just remembered this one.
“i wish i had some more loot i would have bought the lot and the house in a minute.”
For $1.5-1.6mm? I dunno about that. I like the house, but I don’t think I like it that much, not in Lincoln attendance area–this is Alcott, no?
if i am in that price range you know its parker or latin 🙂
or better yet…. use a fake address in the lincoln school district!
“use a fake address in the lincoln school district!”
A lease and a utility bill is all it takes. If you know someone with a two-flat with an electric meter for the common area, sign a lease for the common area “unit 3”, get comed to bill you and get a PO box for your mail. Done deal.
oh anon a true chicagoan either scaming the system or knows some one who is 🙂
“either scaming the system or knows some one who is”
Actually neither. Just easy enough to figure out.
Howabout just edit the utility bill and get a PO box?
Document alterations/fraud isn’t that hard to do these days on things like that. All it takes is a multifunction color laser copier+scanner.
i hate to say it cause i am a very moral person but if cant get my local school to turn around despite my best efforts and little groove is an average student and we dont want to move….i will be using a buddies address in Oriole or Edgebrook if they are still living there (wish i could do another buddies address in River forest but they dont do corruption)
“Howabout just edit the utility bill and get a PO box?”
PO Box isn’t sufficient, you need a lease, too, and what’s $20/month to avoid the scrutiny. Plus, I don’t think that misrepresenting your living arrangements is criminal, but altering documents is.
“wish i could do another buddies address in River forest but they dont do corruption”
Can he “rent” you his garage, or something?
parents/Familys there a very umm lets say taddle tails and they know who is who and which kid is whoms.
Buyer plans to keep the lot as a yard.
“Buyer plans to keep the lot as a yard.”
So, the buyer of the house got the buyer of the lot to sell (or did the lot buyer back out)? Or is the same person who had previously bought the lot?
Please let us know the closing price when possible.
First buyer (builder) backed out. This is a different buyer. It will close for about $100k off of asking price
Good stuff.
Thanks, MG.
thanks MG, you are a gentleman and a scholar!
congrats to the buyer and thank you buyer for “keepin it real”
hope the keep the “diner” kitchen floors, fricken love that!
Sold for 1.4MM
is that with or without the lot next door?
i think MG stated that they kept the lot next door.
he also stated the house closed 100k off list
which would make the house 799k and the yard/lot 600k?
ouch thats steep to pay for a drive way and grass!
That $1.4M is WITH the lot next door. The package was listed at $1.499M.
good looking out MG,
1.4mil is a great price for what they got. If i got paid better and wifey wasnt a stay at home mom, we would have loved this place. (not alcott school though)
congrats to the new owners 🙂
side note, sweet victorians in oak park are around 1.2-1.5 easily (better inside condition too)
OMG!!!!!!!!
look what they did to my beauty
http://www.redfin.com/IL/Chicago/2643-N-Wilton-Ave-60614/home/13361100
OMG Groove! The only thing that remains is the stained glass in the living room.
I’ve often wondered about these rehabs. It makes for strange roof heights etc. I’ll have to get over there and get a picture so we can discuss it in a “real” post.
OMG that’s hideous. Absolutely hideous. Go back to Moldova or Macedonia or whatever god forsaken landlocked former communist bloc country from whence you came!
Groove: “OMG!!!!!”
Sabrina: “OMG Groove”
HD: “OMG…”
Are you kidding me? What are we – at a pre-teen girls party? Jesus f christ – you all need to grow a pair!!!
At least they didn’t build a 3-unit condo on the vacant lot.
$2.2 for a two-flat with a 2 bed owner’s unit and a 1-bed apartment? Really?
That is sad. What on earth were they thinking?
“look what they did to my beauty”
If ever there was an owner to truly root against, this would be that owner. This is a crime against the neighborhood.
“Are you kidding me? What are we – at a pre-teen girls party? Jesus f christ – you all need to grow a pair!!!”
hahaahahah you went to UIC hahahahahaha
“At least they didn’t build a 3-unit condo on the vacant lot.”
i would have except that than this abomination
“hahaahahah you went to UIC hahahahahah”
Groove, I came from a very poor family and the only way I could afford school was to go to UIC. I got a full scholarship – I am very grateful for that opportunity. You probably shouldn’t make fun of people who need financial assistance – it isn’t very nice….
So i rallyed the troops (wife and kid) and we are now on a mission to track down the owner who totally screwed up this home so we each can kind him/her/them in the shins.
today i lost a bit of my faith in human kind.
God damn it man – learn how to spell!! Even someone from UIC could do better than you!!!
“God damn it man – learn how to spell!! Even someone from UIC could do better than you!!!”
doode a sub rate doctor like you should be able to come by a script to cure your issues.
I like most of what was done on the inside. The outside just needs a few pair of Volkl’s leaning on the wall next to the front door.
“hahaahahah you went to UIC hahahahahaha”
surprise, how? I said months ago this had to be the case. I must have worked with 50+ people from U of C. Can’t think of one that is so simultaneously dumb, lacking in intellectual honesty, and less inquisitive than Clio.
A genuine shock!
This is a sin against vintage. I actually love the “before” main floor layout — small front room would be awesome mudroom/closet, and the small room by the kitchen would be my dream pantry. I wonder how noisy living on the non-El side of Wilton is, but other than that, I love everything about it. I actually noticed the “after” travesty of a listing and wondered what it must have been. Now, I’d rather not know. Sad, sad, sad. Groove, I’m with you!
“Sad, sad, sad. Groove, I’m with you!”
if your in one more person to kick their shins the better, i’ll buy lunch
“surprise, how? I said months ago this had to be the case.”
reason icarus needs to get the wiki going, i missed your post on this.
i would rather have a doctor who got his degree in the philippines than UIC.
“reason icarus needs to get the wiki going, i missed your post on this.”
Will it have a link-back to Sonies beer reviews? He really is pissing me off now that he won’t drunkenly rant of those Heavenly Hops. Come to think of it, I miss drunk Bob. Just more proof that alcohol makes things better!
Such a shame.
“Such a shame.”
I agree Chris – it is a shame that we have to share our air w/ people like ze and groove.
““reason icarus needs to get the wiki going, i missed your post on this.”Will it have a link-back to Sonies beer reviews?”
I think wiki would go dark out again if I tried to do that.
“it is a shame that we have to share our air w/ people like ze and groove.”
If you were sharing the air with me, you’d have the munchies already.
“OMG that’s hideous. Absolutely hideous. Go back to Moldova or Macedonia or whatever god forsaken landlocked former communist bloc country from whence you came!”
Why are you defaming Eastern Europeans?
This place is screaming copy of a hideous and crass Highland Park “Hybernia” interior, it’s perfect for the HP orthodontist w/gold chain who wants to relocate to the city!
Ze,
down there you growing your own or is it the same up here where your cousin or ex-roommate stops by once a week with a supply?
THOSE BASTARDS! This calls for blood, IMO.