3-Bedroom Vintage English Bungalow Is Now Under $400K: 6136 N. Lenox in Edgebrook
We last chattered about this 3-bedroom vintage single family home at 6136 N. Lenox in Edgebrook in March 2011.
See our prior chatter here.
It was a short sale and was listed at $430,000.
Since that time, it has been reduced another $50,000 to $380,000 and the listing says you can “close fast” as the short sale is “already approved.”
Built in 1937, the listing says it is the English architectural style.
The house still has some of its vintage features, including a beamed ceiling in the living room.
All 3 bedrooms are on the second floor and there is a first floor den/office and a lower level recreation room.
The kitchen has white cabinets and stainless steel appliances.
The house is on an oversized 35×124 Chicago lot, has central air and a 2-car garage.
In our last chatter, the main problem with the house seemed to be that the 2 bathrooms were located in the lower level and on the second level- which meant there was no bathroom on the main floor.
But with the price reduction, is this house now more attractive?
John Oertel at Dream Town still has the listing. See more pictures and a floor plan here.
6136 N. Lenox: 3 bedrooms, 2 baths, no square footage listed, 2 car garage
- Sold in July 1989 for $155,000
- Sold in November 1992 for $195,000
- Sold in May 2005 for $510,000
- Sold in March 2007 for $557,000
- Originally listed in February 2011 for $430,000
- Was listed in March 2011 as a “short sale” for $430,000
- Reduced
- Currently listed as a “short sale” for $380,000
- Taxes of $7740
- Central Air
- Bedroom #1: 18×9 (second floor)
- Bedroom #2: 12×11 (second floor)
- Bedroomn #3: 12×9 (second floor)
- Lower level rec room
Wow Sabrina you must have some price change alert system set up because this fell out of contract just a few days ago. This has been under contract 2x as a short sale, maybe the third will be a charm? This is a screaming deal saying buy buy buy. Compared to the neighboring house also under contract, this is way undervalued. Great school Edgebrook too, one of the best in the city. Great leafy area, easy highway access (and I LOVE LOVE LOVE the highway).
http://www.redfin.com/IL/Chicago/6119-N-Lenox-Ave-60646/home/13512755
I’d but this myself even with 20% down the monthly payment PITI is almost $2,200 and my wife doesn’t want to triple our monthly housing payment. BOOOOOOO.
I wonder what the last contract offer was, I wonder how far under $380,000 is was. This is a great deal, especially considering you get a SFH, in Chicago, and dno’t have to pay for private school.
THe beams on the ceiling are a dealbreaker for me. Not only are these beams very log cabinish and northern woodsish, but they also are opposite to the wood floor grain–that “wood fight” would make me nuts. I wouldn’t take it for anything. You would need a thousand mirrors and crystals to make up for that bad feng shui!
HD, you pay around $730/month now in rent? For a 2 BR on the Northside? That’s a great deal.
I thing those beams are beautiful.
Milkster – $800’s, northwest side, vintage. It’s worth probably a $1,000 a month but I’m a long time tenant.
what are the odds the new short sale price is approved, and will close fast?
close to zero, i’m sure…
we’ve discussed this before but the two deal kilers (other than the beams) are the no first floor bathroom (basement and upstairs only!) and the no closets. the house needs an addition. Regardless, at this price, i think it’s a steal. It’s been under contract twice before, I bet it goes under again quickly. Elementary schools starts in two months and with a preapproved price this should go FAST.
I have no doubt that this will be back under contract within a week or two and will close at the bank approved price at $380k. The short sale deals that fall apart but are approved are very often the best buyer opportunities since it removes the worst aspect of the short sale process–the long wait and uncertainty over bank approval.
really HD? 2100 a month on a big beautiful home is going to kill you? Just think how impressed your friends will be!
your mortgage will be $1450 a month ($420 of which will be going towards principal) while the 1k or so will be tax deductable
also the $641 a month you will be paying in taxes will be tax deductable as well. (also you will likely get an appeal/HOE exemption which should lower your taxes to around $450-500 a month)
I thought you were a lawyer, that is peanuts of a house payment for a nice large house in a good hood with good schools!
you must have a lot of other debt or something because it doesn’t compute!
I like the beams!
“you must have a lot of other debt or something”
It’s like you don’t even pay attention to our friend–he talks allthetime about his student loan payments. All.The.Time.
well he’s been living in squalor for years they should be paid off by now or else he loves fine dining a little much
I only make $24,000 a year chasing ambulances.
“anon (tfo) on June 30th, 2011 at 11:03 am
“you must have a lot of other debt or something”
It’s like you don’t even pay attention to our friend–he talks allthetime about his student loan payments. All.The.Time.”
Doesn’t matter to me if the beams don’t match the floor. I love them anyway. I’m a real sucker for homes like this.
“BettyBoop on June 30th, 2011 at 10:22 am
THe beams on the ceiling are a dealbreaker for me. Not only are these beams very log cabinish and northern woodsish, but they also are opposite to the wood floor grain–that “wood fight” would make me nuts. I wouldn’t take it for anything. You would need a thousand mirrors and crystals to make up for that bad feng shui!”
You could drywall in around the beams and it would have a prewar look of a NYC coop apartment…this would be inexpensive, look more modern, and end the wood fight.
See http://www.elliman.com/new-york-city/manhattan/sutton-area/435-east-57-street–unit-5cd/435-east-57-street/xsaqzru
Not having a bath on the main floor is problematic. My grandmother who can’t really climb stairs would not have an enjoyable visit…I’d want that bath in a long term purchase for a family. I wounder if you could add it off of the kitchen or den.
i like it too. someone will get a good deal.
“Milkster – $800’s, northwest side, vintage. It’s worth probably a $1,000 a month but I’m a long time tenant.”
I call shenanigans. Uptown is on the north side, not northwest side.
Uptown is west of East Chicago where he used to live though…
“Uptown is on the north side, not northwest side.”
Jeez. Didn’t you get the memo? All directional references w/in the city are based on anonny’s building. Uptown is north + west of there, QED.
100% awesome home, in a awesome hood, with a nice quick nine hole course, top school (better than lincoln, burley, blaine, pulaski, gothe, jahn).
one question though from recollection i see many houses on this street (lenox) for sale on and off some sold over the past two years more frequency on this street than the rest of the hood.
wonder if that is a coincidence?
Local: You could drywall in around the beams and it would have a prewar look of a NYC coop apartment…this would be inexpensive, look more modern, and end the wood fight.
See http://www.elliman.com/new-york-city/manhattan/sutton-area/435-east-57-street–unit-5cd/435-east-57-street/xsaqzru
THAT WOULD WORK. At least I wouldn’t feel like I needed a stuffed deer hanging out of the wall to make the home complete.
“top school (better than … jahn).”
Huh?
“Huh?”
i know i know, had a brain fart and school names got blocked from my head to my keyboard Jahn was the only thing coming out.
btw, loved the directions based from annoy’s building good laugh with that one 🙂
“one question though from recollection i see many houses on this street (lenox) for sale on and off some sold over the past two years more frequency on this street than the rest of the hood.”
From my highly scientific, set redfin to show last 3 years sales, and take a gander approach, I’d say Lenox is not out of whack (but I didn’t count).
Also, Goethe?? And Pulaski (which might become ok but you knock it all the time)?
“From my highly scientific, set redfin to show last 3 years sales, and take a gander approach, I’d say Lenox is not out of whack (but I didn’t count).”
not just sales listings and withdrawls, but again i am using gray matter and not silicone to produce this statement
“Also, Goethe?? And Pulaski (which might become ok but you knock it all the time)?”
please see brain fart statement as its a long day and i have been here 1 1/2 longer than i wanted.
I think with the school, location and price you deal without a first floor bath. Although everyone on cc wants it, you can’t find the perfect house in the perfect location with a perfect school for a cheap price. Something has to give a little…
“I think with the school, location and price you deal without a first floor bath. ”
That’s why the built homes as far as the eye can see with three large bedrooms, 3 full bathrooms, award winning schools for cheap in Plainfield!
“your mortgage will be $1450 a month ($420 of which will be going towards principal) while the 1k or so will be tax deductable
also the $641 a month you will be paying in taxes will be tax deductable as well. (also you will likely get an appeal/HOE exemption which should lower your taxes to around $450-500 a month)”
Sonies- I never understand your obsession with the tax deduction. HD is living for free right now (by your calculations). Actually, the government is paying him to rent right now.
Because he’s getting the standard marital deduction (I’m assuming he is married) which is equivalent to the deduction he’d get for buying this home. So that makes buying this home doubly expensive compared to renting.
Renting is a FAR better deal if he is really renting at $800 or even $1000 a month and is saving the other $1100 a month.
The tax deduction doesn’t mean much in this scenario.
Besides- I believe it will go away in the austerity programs that are shortly to hit our country.
Willl county isn’t that bad of a place. You get a lot for your money and it is diverse. I-80 highway access is a bonus too. Homes are new and cheap. Lots of kids and a family environment.
even without the tax deduction (which on a single filing lawyers salary does matter) 2100 a month isn’t much to pay for a nice house with good schools… I can’t even imagine what a craphole 2 bedroom you get for 800 or even 1k a month as when I first moved here I paid 1k a month for a 1br POS
It’s funny that all the peoplle who own always say how much they save with the tax deduction, but if they are married, fail to realize that the standard deduction is already over $11,000 per year. If you are renting for at least $1,000 less than you can buy, why would you buy?
In general, when people buy, they buy up as well. It’s not an apples to apples rent versus buy comparison. You may rent a 2 bed but want to buy a 3 bed. This place looks ok, but I still think it would only sell for $350K.
look i’m just saying that its fucking cheaper than what it really is, i’m not saying its significant at all, but every little bit helps these days
I at least think this will sell now for something reasonably close to the $380 mark, but probably more so due to the schools than anything.
“I can’t even imagine what a craphole 2 bedroom you get for 800 or even 1k a month as when I first moved here I paid 1k a month for a 1br POS”
Depends a lot on where you are. You can get a reasonable and spacious 2bd/1ba in logan for around $1K. Obviously different if you want to be in river north (where I lived for a long time).
“even without the tax deduction (which on a single filing lawyers salary does matter) 2100 a month isn’t much to pay for a nice house with good schools”
Could you afford $2100 a month on a lawyer’s salary of $75,000 a year? (with kids?) That’s the salary one of my friends makes in-house at a major corporation here in Chicago (which shall remain nameless) and she’s lucky to have that job (since she already lost one job during the great recession.)
You’re assuming every lawyer makes six figures when the vast majority do not.
Actually- let’s say the buyer DOES make $100,000 a year. If you’re saving for retirement at all and have the expenses of kids and childcare, $2100 a month is probably still a stretch.
“In general, when people buy, they buy up as well. It’s not an apples to apples rent versus buy comparison. You may rent a 2 bed but want to buy a 3 bed. ”
So then you compare the 3 bedroom monthly outlay vs rental prices for comparable 3 bedrooms.
“In general, when people buy, they buy up as well. It’s not an apples to apples rent versus buy comparison. You may rent a 2 bed but want to buy a 3 bed. ”
this is a very interesting feature of RE market in US. Usually in other countries most people can afford to rent nicer places than they can buy; say can rent a 3BR but can only buy a 2BR. Still as rents are quite high, they opt to buy a smaller place and there is of course the pride of ownership. It is not the case in US though so it is not clear to me that buying a home makes much sense for a lot of people. They can just rent all their lives.
Those aren’t structural beams in livingroom; remove them if they’re offensive. Home Depot used to carry this item; beams maybe balsa wood or styrene if a recent installation, or pine if truly original.
Always can stain or paint another color too.
It’s a cute-ish house, but I think it’s very small and a family would soon feel cramped. I’ve been in several of these bungalows and georgians in this neighborhood, and many of these houses are SMALL – much smaller than buyers at even this price-point find acceptable. That’s why many houses have had big additions, if not teardown replacements, and most houses are “living large” in the basement too.
Even Edgebrook and Wildwood prices are coming down.
Plus that “den” was the one-car garage; conversion looks improvised.
“Even Edgebrook and Wildwood prices are coming down.”
They’re coming down but not like you would think. There are lots of homes priced in the $400’s, $500’s and $600’s, many of them wonderful homes.
This sold for $480,000 a few weeks ago. a 3bed 1.5 bath for $480,000. Nice house but small.
http://www.redfin.com/IL/Chicago/6517-N-Minnehaha-Ave-60646/home/13591255
This is the bottom.
It has 3 BRs and 1.5 bath. Why is it small for a reasonable size family of say 4?
“This sold for $480,000 a few weeks ago. a 3bed 1.5 bath for $480,000. Nice house but small.”
if you take the 100k out for being in edgbrook school district. 50k out for the safe neighborhood status, 10k for bieng walking distance to one of the best irish food places, 20k for having awesome neighbors, 5k for having a happy foods, 15k for the metra stop
then you end up with a darn cheap house if you look at it that way
Miumiu-Over the past 50 years or so there has developed a real stigma – dare I say “prejudice” – regarding people who, for whatever reason, rent instead of own their living space. It suggests poverty, irresponsibility about money, etc. even if those factors may not really be true. In the classic Chicago novel “The Man with the Golden Arm” Nelson Algre describes the plight and inner shame of those who “own nothing, in the one country in which ownership is everything.”
I know of “upper middle class” renters who choose to rent a nice apartment rather than own a so-so house, and do their “investing” in the stock market, etc. rather than housing. It’s their business and their money, so what?
Maybe in the wake of the recent crash (which affected affluent as well as underprivileged classes) that attitude may soften a bit.
Agree with CTG abt rent vs. own. So many first time home get sucked into “why pay rent for a couple dollars more you can own” but they don’t understand insurance, taxes, leaky faucets, etc. I know a very successful lawyer with clients all over the states who has a very fancy apartment that he rents and invests his money elsewhere. He calls the mgmt company to fix leaky windows, oil bad doors, fix the dishwasher, etc etc.
Of course there is a major stigma with renting – it means you haven’t yet “made it”. You are basically considered a student still, unless your rental happens to be just as nice as those people who bought mccrapbox 2/2’s in LV or LP for $475K in the boom. Genius move. Who is better off? Hilarious in my opinion.
Why would anyone want to buy a SFH? I am so over my god damn house, I would love to rent a SFH or buy a townhouse/condo. There is SO much work involved with a SFH (even a small one), so much yard work, and so many expenses – most of you cannot even imagine (and I know that most of you are clueless bc you keep talking about 700-1000/month assessments as being high on condos – wait until you see the monthly costs of even a small house).
very interesting point about stigma of renting. i dare to say that will change if it has not already.
“wait until you see the monthly costs of even a small house”
Full list of what you are considering “costs”, please. Maintenance/replacement reserve, maybe, but otherwise, I dont spend $1000/month on typical assessment items.
My husband and I attended an open house here on Sunday. The beams in the living room are fake. They are plastic and you can tell as soon as you walk in the door. The living/dining space is very small. The kitchen claims to be updated, but the counters are laminate, the flooring is vinyl, the dishwasher is white, and the sink is white and rust stained. None of the bedrooms have closets and the bathroom on the 2nd level needs to be gutted. Ceilings in the basement are very low. The only nice thing about this home is the back yard.
Executed Recorded Document Type Amount
08/31/2011 09/15/2011 WARRANTY DEED $385,000.00
Executed Recorded Document Type Amount
08/31/2011 09/15/2011 MORTGAGE $365,750.00
And the cycle continues….. $19,250 down buys you this house!!
Funny enough, the buyers owned a condo in old town…that they purchased in 2010! They sold it this september for only a $5,000 loss amazing enough. These buyers must have some sort of luck.
Crazy enough, these are the types of buyers interested in Edgebrook, this is what they could afford….this bodes not well, not well at all for all the other ridiculously priced homes in the neighborhood…. most young families with children just can’t afford the area…and the sellers can’t sell..
Homedelete- that IS amazing that they “lost” only $5,000- but really it was much more than that with transaction costs (probably at least 7%). So what did they really “lose”? Looks like at least $20,000 total.
But it could have (and should have) been much, much worse after owning for just over a year.
They only put down $16,000 on the place last year. Now only $19,250 on the new place.
Who says the banks aren’t loaning? Everyone talks about how “hard” it is to get a loan and that you have to “save” all this money.
But you are right- they are very, very lucky. They could have easily have lost much much more on the sale of the old town place.
“And the cycle continues….. $19,250 down buys you this house!!”
F YEAH!! THAT’S AWESOME! RED DRAGON!
Don’t worry HD the whole had a condo in Old Town as the first step in nesting won’t work out well for them for this place. Couples like that, almost ALL that I know, had nice suburban upbringings with all of the modern amenities.
Trust me the hag will be nagging to move out before too long when her QX or FX keeps getting scraped in the smaller garage and dealing with rugrats in cramped quarters isn’t exactly her idea of livin’ the citayyy dream.
And I’m near 100% they aren’t from this neighborhood. People don’t move from Edgebrook to Old Town because to long time city residents there’s nothing special about Old Town.
Was the loan FHA at 5% down?
The really sad part is even after the FHA limit drops in a few days the 385k pricepoint will still be able to get FHA financing.
This cute lil’ old town livin’ the RE dream couple won’t ever need to worry about saving up 40k. Afterall they have a new Infiniti/Audi/BMW/Benz/other DB brand of car to depreciate.
“Full list of what you are considering “costs”, please.”
2,000 lightbulbs at $400 per month.
349
Bob- they’re not living in Old Town. They’re living in Edgebrook now. Sold the OT place to move to a SFH. All within about 17 months of buying the first place.
The Edgebrook house sold for $385,000 in case people are confused about HD’s post above. So it sold for $5,000 OVER the short sale “list.”
I know they’re living in Edgebrook now. I am saying I am near certain they aren’t from Edgebrook or nearby and are transplants because noone native I know from Norwood Park/Edgebrook area would ever move to OT for a phase in life to live in a small McCrapBox near downtown.
HD- did you see the sale of 5832 N Kostner?
Sold for $595,000 in 2004. Sold in August for $415,000. Sauganash Elementary though.
http://www.youtube.com/watch?v=DI_7zlcFkjM
Bob- okay- just want to be clear you knew what he was saying.
You mean everyone you know from Edgebrook gets out of college and just lives in Edgebrook immediately? Really?
“Afterall they have a new Infiniti/Audi/BMW/Benz/other DB brand of car to depreciate.”
See a week ago you were warming to those cars.. Ze thinks someone didn’t get out of those longs that had them puffin their chest out (for a day or two) fast enough?
“You mean everyone you know from Edgebrook gets out of college and just lives in Edgebrook immediately? Really?”
No but have never met someone from Chicago city proper living in Old Town straight outta college. Chicagoland, quite a bit. Indianapolis/Cincinnati/etc? Tons.
I guess Tequila roadhouse was indeed something special and spectacular to these folks. And skyscrapers! Ohhh la la! They don’t build ’em like this in Schaumburg!
“See a week ago you were warming to those cars.. ”
No. I don’t like A-rabs (hyphen for extra enunciation) so like fuel efficient cars. The Benz diesel coming out in Europe I think is nice (the E300 Bluetec ) but will have to wait on a US used one at that pricepoint.
Funny story today coming home on the highway I saw a Benz behind me with a similar driving style which is _very uncommon_ among American drivers (try to minimize acceleration and braking in traffic between the stops in medium/high traffic)–it tends to drive other drivers nuts but I get there around the same time they do so F em. Turns out it was a bluetec driver basically doing the same thing I was 😀
Err benz diesel hybrid sedan.
Sabrina: I did not see that kostner house. Sauganash Elementary, instead, I’d probably do Queen of all Saints, my wife had that catholic upbringing although I didn’t. It’s a pretty good deal. All cash buyer is a principal of a large development company….I wonder if there are plans to flip on the side or something? Who knows. Regardless, these are the deals in that 60646 zip; so many homes listed at higher prices; yet the only buyers we see are cash buyers or young 20 or early 30’s something couples with children who want to live in a decent elementary school attendance area. Across the street from this house is another house for sale for $499,500 that looks like a garage. Come on…
http://www.redfin.com/IL/Chicago/6137-N-Lenox-Ave-60646/home/13512756
Crazy. Maybe $285k? These are a dime a dozen in the suburbs!
Who are the agents telling all these homeowners they can list for $500,000 now? Or even $800k for the larger vintage homes? They sit and sit.
“Who are the agents telling all these homeowners they can list for $500,000 now? ”
There aren’t a lot of pre-requisites to being a real estate agent. And these days there are a lot of real estate agents with _a lot of time_ on their hands I’d venture to guess.
Don’t forget this property is considered desirable for the price; it went in and out of contracts a number of times before finally selling. It would fall out of contract and another buyer would be waiting in the wings for this deal. meanwhile, another pricier home languishes…
http://www.redfin.com/IL/Chicago/6309-N-Le-Mai-Ave-60646/home/13512232
The MSM Press is back whining for more govt intervention in housing again.
http://www.bloomberg.com/news/2011-09-21/bernanke-battling-housing-slump-shows-fed-has-few-tools-to-heal-economy.html
“U.S. mortgage rates are the lowest in at least four decades, with a 30-year fixed loan available at 4.09 percent. That didn’t help Alexis Wolf buy a townhome in Beaverton, Oregon.
“Unless you have family help, you’re stuck renting,” said Wolf, 26, a real estate broker who turned to relatives for a loan because she didn’t have the credit and employment history needed to qualify for a mortgage.
Wolf’s experience illustrates the predicament for Federal Reserve policy makers as they end a two-day meeting today to consider ways to boost economic growth.”
The entitled generation wants to own! And I’m sure the Fed and the Prez would LOVE to help them jump into financial indentured servitude if it weren’t for the courageous Republicans standing up to them.