3-Bedroom Peterson Woods Tudor Returns To Test The Hot Spring Market: 5761 N. Virginia
We last chattered about this 3-bedroom Tudor at 5761 N. Virginia in the Peterson Woods neighborhood of West Ridge in October 2011.
See our October 2011 chatter here.
Many of you liked this house but thought it was priced too high for only being a 3/1.5 (especially when it was originally listed over $500,000).
Some of you also thought they should re-list after the school notifications came out in February.
The house was withdrawn in December and has now come back on the market.
If you recall, the house has some of its original vintage features including arched doorways, woodwork, and leaded windows.
Since the last purchase in 2007, there have been many updates to the house including some new windows, new space pac and a new deck off the back of the house.
The kitchen now has new stainless steel appliances and there are 2 new bathrooms.
Built on a 30×125 lot, the house has a 2-car garage.
Will this home sell quickly this time around in this “hot” spring market?
Terry Silis at Baird & Warner still has the listing. See more pictures here.
5761 N. Virginia: 3 bedrooms, 1.5 baths, 2100 square feet, 2 car garage
- Sold before 1988
- Sold in May 2007 for $485,000
- Was listed in August 2011 for $539,900
- Reduced
- Was listed in October 2011 for $498,000
- Withdrawn in December 2011
- Currently re-listed for $449,000
- Taxes of $6830
- Space Pac cooling
- Wood burning fireplace
- Bedroom #1: 20×14 (second floor)
- Bedroom #2: 15×11 (second floor)
- Bedroom #3: 19×10 (second floor)
- Unfinished basement
Wow- no comments! I wsa just walking down Virginia a few days ago and was blown away by how beautiful this little pocket neighborhood is. It feels like parts of Wilmette, yet is close to Lincoln Square, etc
Families move here and stay for decades.
Beautiful place inside and out. Looks like a good deal. The lack of 2 upstairs baths is the biggest strike against.
Not to mention the toilets have already been used
“The lack of 2 upstairs baths is the biggest strike against.”
Beautiful home. I bet it would have sold at $500k if it were on the other side of Virginia. At $450k I hope they can find a buyer!
I love this place.
Beautiful, perfect older home in very nice, quiet, safe neighborhood. Nice neighbors, great place for a family.
The only downer is the inconvenience of the neighborhood. You are nowhere near a train and the rush hour traffic is horrible. Target is the only retail even halfway within walking distance. There are very few appealing places to eat or get coffee, or shop. It has a walkability score of maybe 1.5 at best on a scale of 10.
“Target is the only retail even halfway within walking distance. There are very few appealing places to eat or get coffee, or shop. It has a walkability score of maybe 1.5 at best on a scale of 10.”
There are lots of busineses along the adjacent stretch of Peterson/ You may not find them “appealing” but they are there. Actual Walkscore of this address is 77….not tops but not terrible either.
OK, IHOP directly across on Lincoln, new Chipotle towards Lincoln/Peterson, a Russian nightclub on Peterson, Foremost Liquors at the corner with other tenants typical of an older mall. Walk down Lincoln over the river to Panera and another meh strip mall. McDonald’s at Peterson and Jersey. Deep Tunnel project right there with the attendant smell and weird stuff in the river (I’ve seen it with my own eyes). Nearest grocery stores is a small Dominick’s on Lincoln near Foster and a larger one on McCormick. Shall I go on?
It’s a nice neighborhood, don’t get me wrong. A friend of mine has lived two blocks away from the subject house for 30+ years. The thing is, it’s not an upscale one by any stretch of the imagination. It’s poorly served by public transportation and a car is needed to get anywhere.
It wouldn’t hurt many of us to walk a block or two. Area is not in the middle of nowhere. There’s a 24 hr. Walgreen at Lincoln/Peterson, Chipotle, Foremost Liquors, IHop, Walk a little west across the bridge, Panera, Starbucks, Campeche, McDonalds, KFC, Dunkin Donut, Baskin Robin. A five minute walk south on BrynMawr to Korean and Japanese Restaurants. Walk to Northeastern University, North Side College Prep, Mather, Jamieson, St. Hillary, banks, cleaners. There is the Lincoln Bus to the brown line or stay on it and really see the city, Peterson Bus to Red Line, Pace Bus stops at Lincoln/Peterson to loop, short drive to LSD or Edens.
Area has been written up in Chicago Magazine, Chicago Sun Times, Chicago Tribune.
Six Pockets Of Beauty On N.W. Side Havens Are Off Beaten Path
Anamoose, that’s what I mean by no “walkabililty”- you need a car to go everywhere around there.
I’m attracted by the low prices for good-looking older places, but the lack of decent public transit is a real minus.
If “poorly served by public transportation” and “you need a car to get anywhere” are defined as you need to take a bus to get to a train, 80% of the northside falls into this category. Yes it’s more convenient to be walking distance to an el stop but it’s ridiculous to say the CTA isn’t functional unless you live right on the el.
I grew up near here and loved how all the houses looked different. The homes are also well built. On the other hand, it is a boring area. It’s a nice area to raise a family, but the long commute to downtown ultimately made my parents move closer to downtown in University Village. UV doesn’t compare in terms of beauty to this area, but it’s much more convenient.
The last westbound bus for Peterson stops at 10.30pm, Monday through Friday. No weekend hours. Same with the route that goes down Lincoln Avenue. No service on McCormick. I’d say that’s really limited public transportation service.
Informal poll: Buying a place that requires taking a bus just to get to the El is a good idea. Yes or no.
I have to admit, I really like this place and am suprised to see the price continue to fall. But then again I would have to agree that it’s location is not ideal for public transportation… not saying it has to be 5 minutes or less to a train, but this situation is pretty bad if you don’t have a car. We’re talking 60 minutes or more to get downtown. The 1.5 bathroom situation isn’t terrible – would prefer at least 2 full if I was planning on raising a family here – but if these are “new” bathrooms, unfortunately I’m not a fan of their design/layout.
There are lots of great areas that require a bus ride to get to the el and lots of crappy areas with a short walk to the el. I would say having a stop within walking distance is a nice bonus, but not a requirement. Plus, the line between walkable distance to the el and being too close to the el is narrow.
I’ve lived in Chicago nearly 20 years, in 5 different neighborhoods over teh north and northwest sides, and I’ve ridden the el 4-5x a week during that entire time period, and I’ve never lived more than a four block walk from the el. In fact when I move a requirement will be that I live within walking distance to the el, or, the metra.
@annony: no there are so many nice hoods which are at a walking distance.
Personally would rather be a little inconvenienced and ride to the train. With the exception of Ravenswood Manor, areas on the north side, with CTA L stops tend to be unattractive.
Whomever wrote it takes 60 minutes or more to get downtown, must be walking! It does not, my best friend lives on Mozart, it doesn’t take that long, especially now with your phone being able to tell you when the next bus to train station is coming.
Love the neighborhood, it’s so pretty, not cookie cutter, lovely architecture, especially the corner houses, lots of trees and lovely lawns, kids playing hop scotch in front of their homes or ball in the middle of the street, a great park with a running path, a place to walk your dog, decent public grade school, I’ll take the longer commute. If I could afford a house, this is one of the places I would love to live in.
“Foremost Liquors at the corner with other tenants typical of an older mall.”
This used to be called “scoremost” to those with fake IDs.
” kids playing hop scotch in front of their homes ”
I call BS. Nobody actually has played, or has even known truly how, since before 1960.
http://en.wikipedia.org/wiki/Hopscotch#The_court_.28or_course.29
Riding the Peterson bus to the Red Line will add an extra half hour to your commute, but riding the Kimball bus to the blue line will add an extra hour, because of the hellish rush hour traffic on Kimball. I tried it once and timed it- it was miserable.
Then, a half hour downtown on the Red Line train, or 20 minutes on the Blue Line.
It doesn’t sound like a big deal until you have to do it every day and get out of the house every morning at 6:45AM to get to work on time with a few minutes to spare to settle into your office.
I will make a lot of sacrifices on space and price to live within a few blocks of the Red or Blue line els.
Real Chicagoan – Plug the address into Google maps and search public transit directions to a loop location or Michigan Ave…. Depending on final destination, minimum of 45 minute trip… Pretty long duration to travel less than 10 miles. Actually, driving downtown isnt ideal either from this home – you first have to get to 90 and then deal with inbound/ outbound rush hour traffic? No thank you. There is the alternative of taking LSD south, but never know what treats you get driving that route daily either.
You would never go to the Kennedy from here to get downtown. Peterson to Ridge will have you to LSD in 10 minutes and LSD goes much faster than the highway anyways. It is a beautiful commute too!
“Informal poll: Buying a place that requires taking a bus just to get to the El is a good idea. Yes or no.”
Dude, you’re a solid 20 minute walk to the nearest el stop, aren’t you?
I have actually taken the trip from downtown to an address near this house, on Kimball, and it was awful. The best way is the Red and then take the Peterson bus, which runs on a big space even in rush- every 15 minutes. I took the Blue to Belmont and then the Kimball bus north, which was a nightmare because of the traffic on Kimball. Trip took over an hour.
It might take 45 minutes if you track your bus very carefully and the traffic isn’t backed up, which it usually is.
“Informal poll: Buying a place that requires taking a bus just to get to the El is a good idea. Yes or no.”
Ask the people who get off on the El at Fullerton, Diversey and Belmont every day at 6 pm and then wait in line in the cold and rain to then get on the jam packed bus going west how great it is.
“I will make a lot of sacrifices on space and price to live within a few blocks of the Red or Blue line els.”
This is true of all the El lines, I think. People will definitely make sacrifices in space etc. just to be within walking distance of it (or the Metra actually, as well.)
Doing the bus to the El blows!
How many people buying half million dollar homes don’t have cars? Is that all you can find wrong with this place is that its not near the ell? Isn’t that the point? Its not near the el. you can get to it but you don’t have to hear it and not everyone who can afford to live hear works in the loop. Suppose the manager of the much maligned Target a store with over 10 million in annual sales and 150 employees was looking for a place to live or maybe the regoinal manager of Chipotle or KFC or MCD or Home Depot or 7-11 for that matter… a person who visits retail sites as a manager who actually has to go to businesses where customers interact with products? Oh no thats right we should all work in the loop in cubicles, earn 55K not own cars and eat bulgar wheat. GET REAL this would likely work for a lot of people. Once again YOU are not the market. YOU are part of the market. its a nice house in a nice area who cares if you can’t get to the el. For lots of people thats a benefit.
One street over, this cute but very small (no 2nd floor) bungalow with no real yard is under contract within a few days of being listed at $369,000 (it does have 2.5 ba, per the listing)
http://www.redfin.com/IL/Chicago/5748-N-Sacramento-Ave-60659/home/13519291
Let’s say that one closes at 340. Is the better street, house, sq ftage, and lot worth, say, 75k in total?
“Let’s say that one closes at 340. Is the better street, house, sq ftage, and lot worth, say, 75k in total?”
I’d say it’s worth more than that, but I’m just one sadsack individual in the market, not the whole market, so feel free to ignore.
It’s going to close for ask or close to it.
“Let’s say that one closes at 340.”
Dahlia,
Ok, let’s say 365 (obviously, the point was about the houses’ values relative to each other).
If anon is somewhat representative of the market, why can’t Terry get an offer of $425 for the subject property, which would be a mere 5% off list? Seems odd to me, except perhaps there is more demand out there for the ~$350k SFH than ~$450k?
By the way, I think some chatterers above are missing the point about transportation. It’s not so much that Peterson Woods is public-transit poor; it’s that it’s public-transit poor AND a very long way from both LSD and the Expressway. THAT’s the problem (for those that routinely need to get places that aren’t near here, Loop or other). I say this as someone who absolutely loves the hood, the vibe, the architectural diversity, and the river park (and might be ok with Jamieson, not 100% sure).
“I call BS. Nobody actually has played, or has even known truly how, since before 1960.”
I guess my block has a disrupted timeline then.
Peterson Woods is NOT very far away from LSD. It isn’t nearby, but the distance is very quickly covered on Peterson and Ridge. I would bet even in rush hour you could be to LSD in 15 minutes which is better than the time it takes to get to LSD from some parts of East Lakeview that are much closer due to the horrible congestion around Belmont.
The point is that it’s a great little neighborhood. Helmethofer, you go break the hearts of the two little girls near the corner of Hollywood/Virginia and tell them they are not playing hop scotch, the numbered squares they draw on the sidewalk with sky blue at the top is meaningless because it’s 2012 and not the 60’s. Ask them, they will happily tell you they are playing hop scotch.
My friend knows the owners of the house one street over, that was listed at $369,000, it sold for way over asking! Guess some people don’t mind not being on top of the L tracks.
RC,
Thanks for the inside scoop. How much is way over?
I viewed the bungalow on 5748 Sacramento on day 3 of listing and the Agent told me there were already 3 offers, and the third came in WAY over the other two…cant wait to see what they paid.
The question is did the owners of 5748 sacramento (and this posting) overpay when you can get an un-rehabbed home with a near identifical front (& likely layout) for 260k a block south.
5625 N Sacramento (MLS 08069664).
In other words would rehabbing 5625 up to the level 5748 was cost 139k?
Methinks absolutely not. Methinks the newer owner of 5748 egregiously overpaid for “new” renovation which won’t hold it’s value over 10 years, because a decade from now it’s not longer “new” for the turnkey, let’s lever up on the mortgage note crowd. Granted, it will still command a premium to 5625 if it isn’t reno’d, but it won’t be 140k is my guess. Maybe 60-90k.
“AND a very long way from both LSD and the Expressway”
It’s equidistant between both. But LSD actually terminates around here.
So from a NW-side perspective, it’s about as good/close to LSD as you’re going to get unless your indian/pakistani (Devon is N) or want to live in Edgewater east. Not too keen on it being so close to a school though. Gringo ze you’d have a felony charge in no time lol.
“How much is way over?”
20k. Closed at 389k.
5761 Virginia is now under contract as well.
Congrats, Terri.
My congrats were premature. Buyers must have backed out. Delisted.
Sorry, Terri.