3-Bedroom 1895 Vintage Row House Near Lincoln Park Sells: 417 W. Roslyn
We last chattered about this 3-bedroom vintage rowhouse at 417 W. Roslyn in Lincoln Park in September 2010.
See our prior chatter here.
The rowhouse also had no central air and while it had 1 deeded parking space- it was somewhere up the street.
In September, many of you didn’t think this was a deal at $875,000 given the work that probably needed to be done to the property from looking at the pictures and since it’s last sale was prior to 1991.
Some of you also thought it was too bad it wasn’t in the Lincoln Elementary school district, where it might fetch a higher price.
The rowhouse recently sold for $750,000.
If you were interested in living close to Lincoln Park- it had a prime location just a stones throw away from the park. It was also on a block where many of the homes have the old gas lit lamps out near the street.
Built on a 17×86 lot, the row house had four stories.
It still had its original staircase as well as some stained glass.
The kitchen had white appliances and there was a back deck.
The master bedroom was on the top floor and the other two bedrooms were on the second floor.
Lynne Jackson at Kopley Partners had the listing.
417 W. Roslyn: 3 bedrooms, 3.5 baths, no square footage listed
- Sold sometime before 1991
- Was listed in September 2010 for $875,000
- Sold in June 2011 for $750,000
- Taxes of $4912
- No central air
- Deeded parking nearby
- Bedroom #1: 27×19 (third floor)
- Bedroom #2: 11×14 (second floor)
- Bedroom #3: 18×17 (second floor)
No garage, which is about the only thing keeping me from going into a weeping, jealous rage. I stand by my comments from the previous thread: someone who gets this for $800kish and has the cash to do a nice renovation is going to have a fantastic home.
Congrats to the buyers.
Yeah, good buy at this price for the location. Will need $125K to do a nice reno.
What will taxes be for the new owner?
I do not know how much it would take, but IMO, a good deal more than $125K (likely some structural work, HVAC, total reno on all baths, some sort of reconfiguration of kitchen with nearby space/total reno, update all upper floors). Agree, though, that if you have the cash and ability to do the work, this will turn into a absolutely gorgeous home in a great location. This home has lovely original details, is extremely charming, and has enormous potential. Congrats to the buyers.
looks like a nice buy.
‘Yeah, good buy at this price for the location. Will need $125K to do a nice reno.’
Seriously? $125K? You could *easily* spend 1/2 that on a quality in-character kitchen alone http://www.peacockcabinetry.com Then there’s the in-character baths http://www.barwil.co.uk/ and that’s just for the faucets. Roof, windows, mechanical, tuckpointing, etc, etc… lets hope they’re in good shape; a new flat roof on a house like this, about $12K.
Or… you could just go to Home Depot and ruin yet another beautiful structure as is the case in almost 90% of the ‘luxury’ homes/lofts/apartments seen here, and keep asking yourself why people with real money aren’t buying. To do justice to a place like this, you’d have to spend $400K+ which as we all know, is not a very Chicago thing to do.
125k is not going to get you very far.
All you have to do is open up some walls and find that the electric and plumbing needs to be completely replaced. The HVAC system needs to be installed. Listing showed no pix of baths. That means they all need to be replaced. Then you open up the floors and have to do some additional structural.
People get hung up on luxury cabinets and fixtures, but I think it’s doing the systems and structural properly that really eats up the budget.
Just the construction logistics and parking problems, in addition to the “Lincoln Park factor” will push renovation price closer to $250,000 for a nice gut rehab project without any super-expensive details, appliances, or finishes.
“People get hung up on luxury cabinets and fixtures, but I think it’s doing the systems and structural properly that really eats up the budget.”
“Just the construction logistics and parking problems, in addition to the “Lincoln Park factor” will push renovation price closer to $250,000 for a nice gut rehab project without any super-expensive details, appliances, or finishes.”
I think you could spend $250k without *any* details, appliances or finishes. Just systems, drywall and a coat of primer, but that’s being pessimistic about the current condition of the systems/structure and assuming that you’re (basically) redoing them all.
What’s a permit to upgrade the water line + cut a hole in the street cost these days? Nevermind the actual cost of the work.
We viewed this home, huge potential but also a really big project that could get even bigger once it starts. So plenty of reasons a SFH in this location sold for this price. However, for someone who can do it, they will get a beautiful, well located home for a good total cost considering location and the overall space. The main floor is lovely and has nice period details. We felt this was a gut renovation, both in terms of systems, the need to change the layout of most of the home, and remodeling. Also would have wanted an structural engineer to look at the home. But a wonderful property, and as a vintage lover, I hope it’s lovingly restored and updated.
What’s a permit to upgrade the water line + cut a hole in the street cost these days? Nevermind the actual cost of the work.
I paid 7 or 8 k for the whole shebang. The waterline guys pull their own permits ( I think?) or perhaps the waterline permit was part of the rehab permits we pulled.
One thing for the general rehabbing public to be aware of: If you do a remodel ( and pull proper permits) where you add fixtures ( ie add master bath, etc) the city will require you to get a new waterline to the street.
When you add multiple bathrooms and increase your water demand, you’ll want to replace the incoming water service too. And perhaps add a water pump to maintain water pressure when all four showers are on.