A 4-Bedroom Duplex Under $350,000 in Irving Park: 3500 W. Irving Park
This 4-bedroom duplex down new construction unit at 3500 W. Irving Park Road in Irving Park recently came on the market.
The listing says it is a “bank approved short sale”- but the unit is new construction so I’m assuming that means the bank has approved the developer price cut.
The unit has 10 foot ceilings, 2 fireplaces, and the usual bells and whistles of granite countertops in the kitchen and baths. However, the kitchen has black appliances- not stainless. Parking is available.
At 2600 square feet, it is bigger than many single family homes at a similar price point.
Matt Garrison at Coldwell Banker has the listing. See more pictures here.
Unit #1N: 4 bedrooms, 3 baths, 2600 square feet
- Currently listed for $349,900 (parking extra)
- Assessments of $225 a month
- Taxes are “new”
- Central Air
- Bedroom #1: (main level): 12×13
- Bedroom #2: (main level): 11×11
- Bedroom #3: (lower level): 13×19
- Bedroom #4: (lower level): 9×11
Unless parking is $100K I really like this.
Sounds like a very solid cost for a solid place with low assessments. Don’t know much about comparables, though. Hell, if my G/F and I can afford a 4 BR in Chi, I wouldn’t be opposed to buying now and staying for 10 yrs. But, the g/f wants to move to sunny TX or CA so convincing her is another issue…
Not a bad place if you can deal with a duplex down and being this far west. I wouldn’t put too much stock in the assessments because it’s new construction so they are probably arbitrarily set.
Personally, I’d be a little concerned if the developer is having a fire-sale on the place because it means funds were tight and corners may have been cut in the finishing stages. Hence, the hollywood bathroom lights, track lighting and ceiling fans – developers need to watch HGTV in addition to Bob Vila…
Is it just me or do those cabinets scream Home Dept?
It’s not even worth $350k. Why the heck anyone would pay that much to live THERE is a mystery. Why this building was ever built is an ever bigger mystery. This isn’t even an up and coming neighborhood. This building just contributes to the blight on IP road in between Western and the highway. Ugh. This an example of a failed developer’s thinking: If I build it, they will come, and pay top dollar too. Put North Community Bank on your bank failure watch list because if they have loans like this on their books, lord knows what else they’ve got hidden there.
Why live here for 350k when you can live in a good neighborhood (like west lakeview) in a similar, or even better property for 400k
Sonies- any links to 400K 4/3s in w. lakeview?
The cabinetry in MOST new developments scream “Home Depot”.
I see so many much more expensive places than this, some costing more than $1.3M, with standard cabinets and mid-prices appliances jammed into niches rather than built in.
If really beautiful well-fitted cabinetry matters to you, you mostly have to have it installed yourself .
Hd can attest/disagree to this, its close to his hood. past elston isnt OIP anymore and gets dicey around kimball. Also irving park is noisy and its a duplex down.
now the price isnt that bad for the size and bedroom count.
now when someone is looking at a 4br its usually a family.
hey anon what the school situation like here?
Not really lakeview, more RVish but whatever, and its only a 3/3 but still a way better hood than this place, and i’m sure you could talk the developer down to 400k, in an awesome area though right by hamlin park.
List Price: $435,000
MLS Number: 07290967
2930 North DAMEN Avenue #1
Chicago-North Center, IL 60618
Also I saw more 425k ish props around Hamlin park a few months ago but I think people may have scooped them up.
ChiGuy made his point.
Not really W. Lakeview.
Not really $400K.
Not really 4BR.
List Price: $415,000
MLS Number: 07228100
2838 North DAMEN Avenue #1
Chicago-North Center, IL 60618
Throw up another wall, bam you have your 4th bedroom for your progeny
“what the school situation like here?”
Know kids nearby–they have levered into Coonley. Not where I’d choose to live with kids, esp. right on IP. And the layout is tehsuk for a family. Note the 9×11 BR–that’s affirmatively small.
For about the same $$ there are SFHs (older, but whatever) nearby–like 4021 N FRANCISCO Ave for $369, which has a 37.5 ft lot.
Or, for $400k, a 3/2 middle floor 2000 condo on Western (3917 & maybe neighboring bldgs) in Bell attendance area. Which includes parking.
haha, I’ll take the 1 bed in Olympia Centre for that price
This will go section 8.
Oh, and being #1n, it’s *not* directly on IP. You have St Louis out front and the surface parking for the building to the North, and Queen Albert’s directly behind.
How far away is this place from last night’s (or early this morning) “gang melee”?
20 blocks
“How far away is this place from last night’s (or early this morning) “gang melee”?”
About 2.5 miles (20 blocks). About the same distance this place is from Ten Cat. That is to say, not close.
Homedelete: Want to bet I sell this in 30 days?
MGG
ooh, this is getting interesting. unless matt already has a buyer lined up and is just trying to steal hd’s money.
It’s already been active on on Redfin for 25 days so I don’t know if it will sell within the next 30. It’s tough to predict the future on individual properties. All it takes is one fool to come along and buy with this $8,500 government credit and 3.5% FHA financing. So, sorry MGG, I’m going to decline your gentleman’s bet.
“Homedelete: Want to bet I sell this in 30 days?”
Take the bet. On day 30 someone gets it for $279. HD loses, the developer loses, and the buyer realizes later that he loses too…
Aside from the location and whatever’s going on with this place’s decor, you should be able to sell at giant $134/sf place…
“Homedelete: Want to bet I sell this in 30 days?”
Take the bet. On day 30 someone gets it for $279. HD loses, the developer loses, and the buyer realizes later that he loses too…
Aside from the location and whatever’s going on with this place’s decor, you should be able to sell a giant $134/sf place…
Homedelete: Please fax you offer to me at 773.726.5379
Homedelete: Please fax your offer to me at 773.726.5379
Yeah this place wil get sold in the next 30 days… to the BANK
Matt Garrison,
in your opinion, what type of buyer would be looking at a this place?
i saw few of these types pop up around the dunning and jeff park area. the ones in dunning look vacant still.
TO: Matt Garrison
Please update your listing on this unit to reflect what everyone sees in the online pictures.
1. Appliances look like they are black, not SS. Please fix.
2. You list a total of 9 rooms, but a 5X5 room listed as “other” is really just a closet or pantry and is deceptive to potential buyers. Please fix.
3. I can’t tell from the pictures, but those cabinets look more like oak contractor specials than maple highend units.
I appreciate that you are afforded some room in creating the description on this one, but try to stick with things that make sense and not flat out false statements.
Thanks,
The General Public
Dear Matt,
Don’t forget to tape a bedsheet to the wall and call it a “home theater”
If its a real short sale look for the bank to do all kinds of stupid things to prevent a deal going through at ask. They’re notorious for being complete imbeciles when it comes to short sales and foreclosures.
Jason R-
Thanks for pointing that out. The information is accurate on the MLS, but got input incorrectly on the CB website.
I have an intern position opening up to help with data entry etc. If you are interested, please send me your resume.
Thanks
Go hang out by the fax machine and wait for my offer…
“#Matt Garrison on August 28th, 2009 at 11:26 am
Homedelete: Please fax your offer to me at 773.726.5379”
willing to bash the listing but not accept the bet?! C’mon HD, you can afford a small wager.
I’ll take the bet myself Matt, with the rider being you don’t have the buyer lined up already.
Being against the real estate agent is like betting against the casino. The odds are in his favor. I’m smart enough not to take a losing bet.
No buyer yet! But plenty of interest.
Remember, too, that many (if not most) buyers get all their “expertise” from their agent. You know, the one who only makes money if a closing occurs.
any bids?
“Remember, too, that many (if not most) buyers get all their “expertise” from their agent. You know, the one who only makes money if a closing occurs.”
Isn’t the old saying “a fool and his money are soon parted”
or would “there’s a sucker born every minute” be more apt?
Those sayings describe the two main buyers in the current market, speculators and first time buyers, respectively.
Unless you have Sandra Rinomato on your side…
This unit needs a naive purchaser. Location on busy Irving Park is a serious problem. Basement location for two bedrooms is a problem, and exterior photo suggests that basement is down too low to qualify as habitable space meeting exit code requirements. Not a good purchase value because location and configuration are both seriously bad compromises.
Matt Garrison, thank you for the internship offer, but I’ll have to pass. As much as a data entry position does sound good, I prefer spending my days trolling the net and CC, pointing out the lack of professionalism by our local RE agents.
Jon on August 28th, 2009 at 1:32 pm
“Unless you have Sandra Rinomato on your side…”
LMAO. Well done.
“I prefer spending my days trolling the net and CC, pointing out the lack of professionalism by our local RE agents”
thats some good stuff there Jason, good stuff
OMG!! you all need to shut the f up about wanting a cheap (affordable) newish house and when one comes along you wimp out on it giving every imaginable reason why it is not the perfect dream home for you.
Really Jason…an typo in the listing (easily fixed) a much needed departure from the SS appliances residing in 3/4 of Chicago kitchens and a slight variation on the wood used for the cabinets? Please tell me you already own your perfect dream castle…
LOL @ Sonies searching frantically for a 4/3, 2600 sq ft place in HIS desired neighborhood. A 3/3 and an offer to DIY a wall making it a 4 is all he can come up with and it is hilarious!!
It is a decent…very decent NEW place with lots of room and a good price. What is there to bitch and whine about?
What is that saying again…sh!t or get off the pot…that SO applies to the majority of this board.
BTW, good move on coming forth to defend this listing Matt. Lots of agents out there but few have the cajones to come on and hold their own against this procrastinating bunch…well done. (and I usually despise agents/brokers in general, so that is as close to a compliment as you are going to get from me)
Jason-
Keep up the good work man. Dont worry, I wouldn’t have hired you anyway.
MGG
westloop,
bro it is priced right for the size. but i still dont understand it.
given what architect stated “basement is down too low to qualify as habitable space meeting exit code requirements”
also given it area i cant tell what type a buyer would buy this place.
i asked Matt G but no response
why are your panties in a bunch with the whole “OMG!! you all need to shut the f up about wanting a cheap (affordable) newish house and when one comes along you wimp out on it giving every imaginable reason why it is not the perfect dream home for you”
westloop is mercurial. plus MG dropped by a thread today to poke him with a stick. stay clear.
“why are your panties in a bunch with the whole…”
Because, dear one, there are roughly 15 properties featured on CC weekly and out of those 15 around….a….zero raise an applause from this group of skeptics.
To date, I can think of only one person who has stepped forward and claimed his unit that being Kinghippo @ R&D. Well, supposedly Sonies recently purchased in RN but that doesn’t stop him from dropping in several times a day to trash every featured unit…or to lament “IF I had not purchased…..I would sort of be interested in this place…IF they knocked $100,000 off the price and included…..
You now get an idea of why exactly my ‘Versace’ panties (seriously just bought a pair…my first and at that price, definately my last) are in a bunch now don’t you?
wloopelo why don’t you go check out this neighborhood in person if you think this place is priced right… I think you may change your mind.
“just bought a pair [of Versace panties]”
Hot date?
I still think you’re wrong about the majority being non-owners, but since there’s no way to “prove”* one way or the other, I guess you’ll get to keep using that bit-o’-rant.
*there it is again, bob, using quotes w/o quoting something.
Let’s see, prices have only continued to decline since the zero arrived in our fair city.
Seems that the “skeptics” have been correct all along.
That’s what has the zero’s panties in a bunch.
“Because, dear one, there are roughly 15 properties featured on CC weekly and out of those 15 around….a….zero raise an applause from this group of skeptics”
yes the negitivity here is thick, and you can count on sonies bob and HD saying its way overpriced (it usually is). but there are many compliments and hip hop hooray’s for some properties.
take the three listings today.
*400k for a “i love the 80’s” 1br 1.5bath in streeterville
*350k for a 4br in a so so hood with i cant pinpoint the type of buyer(2br are below grade)
*2.3m custom ski lodge in I hate bucktown.
after looking at those come on its hard to be molly cheerleader when may RE agents are just stickey used car salesmen wearing a suit giving the real RE agents bad names.
btw; i wear cheap ol hanes and can still pull more dudes than you in $300 undies 🙂
I don’t hate every property out there either wloopelo, its just that lately there has been a plethora of overpriced crap on this site.
WLoop —
I happen to agree with you on this one. Yes, the neighborhood isn’t fantastic and yes, some of the finishes are questionable, but for $350K for a LOT of space, what do you expect? If there were no compromises on this, it’d be $600k easily. As for a buyer, I could see a young couple who wanted space easily falling for this one. Yes, should they have a kid, they might be screwed, but for $350k, I think they could get out of it relatively easily.
I wouldn’t take Matt’s bet (and I also appreciate him coming on here) — I also think it’ll be under contract in 30.
Seems decent to me. Not everyone is willing to pay $349k to live in a yoghurt cup. The kitchen is blah but whereelse in the city can you get 2600 sq ft for $349 (without being shot, stabbed, robbed or mauled by a psycho stray pitbull)
“whereelse in the city can you get 2600 sq ft for $349 (without being shot, stabbed, robbed or mauled by a psycho stray pitbull)”
And you think that won’t happen here why?
Its been fun, let you guys know what happens with this listing.
OH anon, its not that bad there. but not that great either. positive side of that hood is a good but cheap flower shop on kimball, they chased out most of the sticky people out of the McDonalds!
to lazy to look but i bet you can get a 3br SFH in this hood for the same price and there most likely be a fourth bedroom below grade (us chicagoans love our basement bedrooms)
“OH anon, its not that bad there”
I may be mistaken, but I believe that lauren is our Naperville correspondent, which was the real point fo the question.
“to lazy to look but i bet you can get a 3br SFH in this hood for the same price”
That’s seriously lazy, b/c I already pointed to one upthread:
“For about the same $$ there are SFHs (older, but whatever) nearby–like 4021 N FRANCISCO Ave for $369, which has a 37.5 ft lot.”
Matt-
Keep at it. As i mentioned 2nd post, I’d be interested, am qualified (at 27 even), and no *plans* for kids (expensive little bastards). It’s the girl who doesn’t want to commit to being tied to Chicago’s winters…
I thought lauren was a transplant with dollars and sense.
I can’t remember the name of the Naperville mom with the WI farm and CO land, but I usually agree with her posts.
hehehehehe “That’s seriously lazy, b/c I already pointed to one upthread”.
the groove want to go home.
ChiGuy,
could you elaborate on why you would be interested in this place?
Wait, lauren is the UofC grad (don’t know about $s but does have sense.) Morgan is my transplanted hero with dollars and sense.
“I thought lauren was a transplant with dollars and sense.
I can’t remember the name of the Naperville mom with the WI farm and CO land, but I usually agree with her posts.”
Okay, I can’t keep track of everyone, as I have no interns.
But do you, G, agree with “whereelse in the city can you get 2600 sq ft for $349 (without being shot, stabbed, robbed or mauled by a psycho stray pitbull)”? Even assuming “newly built” is a requirement?
Groove-
affordable mortgage. low assessments. and decently close to blue line, metra, and 90/94. new construction. tax rebates/credits. hopefully no need to worry about schools (except resale, a low priority). lots of space in case my aging parents need a place to live. wet bar in the basement. few blocks from the park for my dog. easy commute to work down elston to clyborn/north.
I’ll concede that it’s pretty large for 2 ppl, but I’d rather have too much space than a 2/1 that i’d move from.
So that’s why I’d be *interested*
thank you Chi, very good valid points
sucks the misses is dragging you out of state.
“sucks the misses is dragging you out of state.”
I haven’t been broken yet!
I think I’m going to start submitting our offices closed deals on this website just to give every naysayer fodder for calling my clients idiots and me a crook so that the CC critics can feel better about their rental positions.
The negatives pointed out about this unit (duplex down, location) are a FUNCTION OF PRICE. Because it’s a home, the price doesn’t have to be justified by the ability to cash-flow as a rental. Additionally, it’s a bank-approved SS. Not familiar with the property and haven’t looked the the listing sheet or checked records on the unit – but I’m fairly certain MG wouldn’t be wasting his time on a SS if it wasn’t deliverable. The bank will likely play ball. If it’s a moderately healthy financial institution, they aren’t in the business of sitting on a vacant unit. This will get activity and it will sell.
Ok, now direct your negative energy at me…
give it time!!!!!! 🙂
see yall monday
this isn’t bad except for the br’s, code violations, and ip road (and schools). Somebody will buy it as it could come close to cashfow. it should rent for at least 2K-2.3K mo.
“Somebody will buy it as it could come close to cashfow.”
This is a long way from over.
anon, I have some ideas for for answers to your ?, it’s just not gonna happen late on a Friday. Maybe Monday if not forgotten.
A-ERG, just submit one, it will be fun to analyze.
I’m an owner and I will certainly provide a critical look at your sales data, free of influence from those unwashed renters.
“I can’t remember the name of the Naperville mom with the WI farm and CO land, but I usually agree with her posts.”
You gonna buy a bunch of land out in the middle of nowhere and go off grid?
Funny story: my parents knew an accounting partner who quit it all to become a rancher out in the middle of nowhere. I asked at this dinner table discussion: “what the f— does he think he’s doing? he’s a freakin accountant not a rancher”.
Sure enough a few years later I heard he moved back, having ruined his family financially and took a much lower paying position in accountancy. People, urbanites in particular, are always optimistic they can do everything they consider below their intellect or skillset. Most can’t.
“anon, I have some ideas for for answers to your ?”
So, you would agree that “whereelse in the city can you get 2600 sq ft for $349 (without being shot, stabbed, robbed or mauled by a psycho stray pitbull)” is a silly justification for this place? Which was underlying my snark, in addition to this not being a choice locale, even with such low standards.
“I can’t remember the name of the Naperville mom with the WI farm and CO land, but I usually agree with her posts.”
Julianna
“btw; i wear cheap ol hanes and can still pull more dudes than you in $300 undies”
GF, seriously, I think you just outed yourself…I thought you were straight with a wife and kids, no? Besides, not that I am a Barney, but I have no problem pulling in the dudes.
Re: the G…I suspect your BFF/sista is lurking in the gutter somewhere here as you don’t usually confront me without Ms. Maria Greco having your back.
“Let’s see, prices have only continued to decline since the zero arrived in our fair city.
Seems that the “skeptics” have been correct all along.
That’s what has the zero’s panties in a bunch”
Sorry G-irl, but my newly acquired Versaces are not on a bunch whatsoever. I have admitted freely that Chicago’s prices have been falling all along…does it really bother me? Not at all…I don’t thrive on the doom and gloom as you do. I have but a small fortune at stake in Chicago’s RE scene. Doesn’t bother me either way.
Can you say the same?
With all the boo hooing you do on a weekly basis here, obviously it does…
As much as I would enjoy reading the true facts you are able to submit, I seriously doubt it would change the tone of this forum. It isn’t a good day at CC unless everyone is able to participate in a group cheer when a slight ‘alleged’ flaw is exposed in a listing, real or not…Gasp!!!
“I think I’m going to start submitting our offices closed deals on this website just to give every naysayer fodder for calling my clients idiots and me a crook so that the CC critics can feel better about their rental positions.”
One is left to wonder if the zero’s disjointed rants even make sense to him?
whats “a barney”
I can only off hand think of a reference being made to the store, Barney Frank, or Barney Rubble?
And Bob..
“People, urbanites in particular, are always optimistic they can do everything they consider below their intellect or skillset. Most can’t.”
I have now plowed through at least, a very conservative estimate of 10,000-15,000 pages of literature on agriculture and one thing for certain, it is anything but simple. Actually the tangential and multivariate complexities are astounding.
So very well said when you qualify it as “consider below”
Oh and I don’t hate most properties, I am just bearish the marketplace in general. Less bearish than I was earlier but still rather bearish. And that’s coming from the long side.
Our 30 acres are pretty manageable, especially since we have several neighbors willing to maintain our feed crops in exchange for enough to feed our livestock, which will be more of a menagerie than a herd. I would be terrified if we needed to make a living at it. My extended family includes second and third generation Wisconsin farmers, and I spent summers helping out on my uncle’s dairy farm as a kid. My dairy farmer cousin is barely hanging on due to medical expenses not covered by his high deductible insurance plan that make scraping by during the lean years almost impossible. But I’m not going to get into the threatened family farm or the sorry state of health care in this country. Although I don’t want to put my head into the sand, it is a relief to just work on the farm and not be angry all the time about how wrong so many things are with our country. I plan on spending a lot of time this winter pouring over my small library on sustainable farming and making plans for the future and not think (as much) about corruption that I can’t change.
Bob: “an accounting partner who quit it all to become a rancher out in the middle of nowhere. I asked at this dinner table discussion: “what the f— does he think he’s doing? he’s a freakin accountant not a rancher”. Sure enough a few years later I heard he moved back, having ruined his family financially and took a much lower paying position in accountancy. People, urbanites in particular, are always optimistic they can do everything they consider below their intellect or skillset. Most can’t.”
Juliana,
May I recommend.
Grass Productivity. Andre Voisin. by a huge margin the best read so far.
Greener pastures on your side of the fence. Bill Murphy.
Plowmans Folly- Edward Faulkner downloadable here for free although i donated to support the library anyway. http://www.soilandhealth.org/01aglibrary/01principles.html
Ze,
Barney = a goofy looking man who is Not current on anything.
G,
Making snide and rude comments about me does not at all bother me and only serves to reveal to the other CC posters the real you…angry, petty, juvenile and insecure.
Say what you want about me, it doesn’t matter and it all has no effect on me. The only thing these posts do is show the real you. Please leave me out of your rants and just keep posting the RE sales information you usually do. I am sure that information is useful to readers here, attempting to belittle and humiliate me is not.
Do yorself a favor 0 and don’t post until after you take your meds.
OK G, will do!!
You know it biotch…everyday in front of the mirror…there is no RE crisis…you are smart enuf, good enuf and gad dang it people like you…there is no RE crisis….
ha! best CC thread in a long while.
Matt G
how are the prospects looking?
“Want to bet I sell this in 30 days?”
Long time reader, first time writer.
Passed this place yesterday, and there is a *HUGE* sign in front advertising Developer Closeouts.
I should have taken you up on this bet. I would have won. It’s still listed at $344,900 after 81 days.
However, I’m a decent guy. I’ll buy you a drink instead.
What do you drink? I prefer Glenfiddich.
“#Matt Garrison on August 28th, 2009 at 11:13 am
Homedelete: Want to bet I sell this in 30 days?
MGG
“