4 Bedroom Queen Anne in Historic Old Edgebrook Reduces Again: 6239 N. Lundy
We’ve chattered about this 4-bedroom Queen Anne at 6239 N. Lundy in the Old Edgebrook neighborhood of Forest Glen several times in the 21 months it has been on the market.
See our July 2011 chatter here.
Since our last chatter in July 2011, it has again been reduced, this time another $60,000, to $799,000.
Many of you consider old historic Edgebrook to be one of your “dream” neighborhoods and you watch the real estate transactions there closely. The Old Edgebrook historic district was created in 1894 and designed to be houses of various styles. It was designated a landmark district in 1988. There is only one road into the neighborhood and one road out.
It is literally in the middle of a forest preserve. There are walking paths that wind through the neighborhood which go through the forest preserve.
This Queen Anne was built in 1896. It still has many of its vintage features including its oak staircase, lead and stained glass and pocket doors.
The kitchen has a stainless steel refrigerator and dishwasher as well as granite counter tops and white cabinets. It has a front turret, a double parlor and a finished basement. There is a 3-car garage and central air.
The houses in the district are on larger lots and this one is no exception- having been built on a 111×164×65×158 lot.
Is this house getting closer to the right price?
Irene Yungerman at Baird and Warner still has the listing. See the pictures here.
6239 N. Lundy: 4 bedrooms, 3 baths, 3 car garage, 3510 square feet
- Sold in March 1986
- Sold in December 1989 for $492,000
- Originally listed in February 2010 for $998,000
- Reduced in May 2010
- Was listed in October 2010 for $949,000
- Reduced
- Was listed in July 2011 at $859,000
- Reduced
- Currently listed at $799,000
- Taxes of $12,588
- Central Air
- Bedroom #1: 15×14 (second floor)
- Bedroom #2: 17×12 (second floor)
- Bedroom #3: 13×12 (second floor)
- Bedroom #4: 14×14 (third floor)
Love the house, hate the porch. and the price.
It is a great house, although I would prefer the porch to be open. I am not a fan of that upstairs office or the odd looking turret on the garage either, but it is a great neighborhood and a huge lot. While I’m sure an old house like this could use a fair amount of work, I think it is finally coming down to a realistic price, especially considering other sales/listings in the area.
I agree with Icarus, and would ‘like’ his comment if that feature were activated (hint hint).
Looking at the overall design of the house, it looks like it might once have had a wrap-around porch which got lost in a rehab, and a modified covered porch replaced it. Bad move, design-wise. %^ (
this place rocks. I think the porch makes good sense given the extreme weather of Chicago. I just don’t like the exterior material too much.
Miu, instead of buying an in-town perhaps you should just move here from the burbs and then you could take the Metra downtown. Good schools here, and there are kids in the neighborhood. 🙂
I like this place.. a lot.
The entire neighborhood is cool. It’s expensive to get in though and there is very little turnover. Not a lot of kids either.
okay who’s correct, Benjamon09 or Homedelete about the kids on the block 😀
General Question: so is it correct and accurate to say that anyone who is underwater today is underwater because of their own fault? In other words, they simply overbought and/or ATM’d their home inappropriately and its not possible someone paid a fair price for their home which has now been dragged down in value by the tide of Boom-Bust properties?
I disagree Icarus. I think many people are in that category but many paid a fair price that they could afford and had to as that was the market and now are underwater. It isn’t their fault there was a bubble.
I wouldn’t say there are tons of kids here but when I’ve been by in the summer I’ve definitely seen kids out playing.
I’d say it is a combo Icarus. Some used their house as an ATM while others just bought at the wrong time.
@benjamon9, I wish that were an option. This place seems wonderful to raise a family!
“okay who’s correct, Benjamon09 or Homedelete about the kids on the block”
*Strictly* speaking, they could both be right.
“so is it correct and accurate to say that anyone who is underwater today is underwater because of their own fault?”
Yes, it’s all your own fault Icarus. Kidding aside, I know friends who made what I think were not crazy decisions. They bought well within their means, could comfortably afford the place and still can. The couple of people I know in houses they are happy with for long run are not too concerned.
Others who are in 2/2s (or similar) and are stuck are pretty ticked off. I wouldn’t assign a huge amount of fault to them (not that it’s my position to do so anyway). But I will say that for many of them, the prospect of making some money when they resold (as they knew they would want to do after getting married/kids) played some part in the decision to buy. Some realized it was more expensive than renting but figured they’d make it back when they sold.
Edgebrook school is over crowded at this point. Not sure why people think there are no kids in the area.
“This place seems wonderful to raise a family!”
The main downside, for me, is a lack of walkability. Yes, some stuff in downtown Edgebrook but that’s about it. This is a general issue I have with these neighborhoods, especially when you’d have to walk on Central to get to anything from this place (though I do like Old Edgebrook).
“Edgebrook school is over crowded at this point. Not sure why people think there are no kids in the area.”
Question is whether there are kids in Old Edgebrook. The school could be insanely full without any kids in Old Edgebrook.
“The main downside, for me, is a lack of walkability. Yes, some stuff in downtown Edgebrook but that’s about it. This is a general issue I have with these neighborhoods, especially when you’d have to walk on Central to get to anything from this place”
I doubt this is any less walkable than most places this home will be compared to. I would bet this is compared more to suburban homes and neighborhoods like Sauganash than to the heart of Lincoln Park. Also, you don’t have to walk on Central. There is a path through the woods to downtown Edgebrook that is lit and everything.
“General Question: so is it correct and accurate to say that anyone who is underwater today is underwater because of their own fault?”
Yes. If they were legally incompetent or signed under threat of injury they likely could have straightened it out by now. And, no, being called a renter does not constitute an injury.
“its not possible someone paid a fair price for their home which has now been dragged down in value by the tide of Boom-Bust properties?”
People paid a fair price for Pets.com, too. So what? You pay your money and you take your chances.
http://Www.duplexdown.com
Has this been discussed yet? Looks an awful lot like cribchatter…
If what you want is your kids to have the most possible nearby friends their age, pick a suburban sfh subdivision that is about the same age as your kids. New subdivisions are swamped with young families. 15 year old subdivisions have the most middle & high schoolers. Aged neighborhoods are not comparable. There are a few local schools that might affect the local child age demographics, especially if they are all moving out for HS, but my opinion is that the type of local housing is a greater determinant (age in the suburbs, ratio of 3+BR units in urban areas.)
If what you want is your kids to have the most possible nearby friends their age, pick a vibrant City neighbhorhood with lots of kids.
“many paid a fair price that they could afford and had to as that was the market and now are underwater. It isn’t their fault there was a bubble.”
Couldn’t disagree with this more. If you’re the person paying a “fair” price in the middle of a bubble, it is absolutely your fault there is a bubble. It’s not that complicated.
“If you’re the person paying a “fair” price in the middle of a bubble, it is absolutely your fault there is a bubble. It’s not that complicated”
I don’t think the bubble is the fault of people who have the money needed and are at the right time to make a purchase for the long term that pay a “fair” price during a bubble. They are the unfortunate ones to reach this point during a bubble. They cannot pay under “fair” going price at the time and it may no longer be wise or feasible for them to rent.
The bubble is caused by speculators, people buying short term for profit, people buying who can’t afford to, etc.
I think it is more complicated Brad F as owning RE has a significant convenience yield that few other asdet classes have. You can’t talk about it as if it were tulips if little jane or johnny could’t otherwise goto a decent school, etc. There aren’t always perfect rental substitutes. Not saying buying in a bubble wasn’t a bit foolish, but there are a multidude of factors other than financial that indeed makes it complicated.
“It’s not that complicated.”
I’m with Brad F on this one.
“Not saying buying in a bubble wasn’t a bit foolish, but there are a multidude of factors other than financial that indeed makes it complicated.”
None of which removes where the fault lies, if they feel the need to blame.
Vlakas, I see you’re going for clio’s record.
If this were 799k, how much would that make the corner McClellan house (i think it is 6223 maybe? or 6233? or something like that) worth? Lot and house are way bigger, location is better, and from the outside at least 622/33 is far more impressive (don’t know what its innards are like). And you can sit OUTSIDE on your porch, sip lemonade, and watch the deer, golfers, and other wildlife!
Roma, are you talking about 6300 Louise or some house that isn’t on the market?
Not currently on the market (it may have been for sale a while back, I’m not sure). It’s the huge one at the outer edge of the curve on McClellan – 6233/6223/6333 something like that. Groove should know which one I’m talking about (is he still around?)…any OE people around that can confirm?
“Not currently on the market (it may have been for sale a while back, I’m not sure). It’s the huge one at the outer edge of the curve on McClellan – 6233/6223/6333 something like that.”
6203 Lundy, sold for $765K at the beginning of the year. There was one commentator on the last chatter who suggested the upstairs needed some significant work.
http://www.redfin.com/IL/Chicago/6203-N-Lundy-Ave-60646/home/13513498
6203 definitely does not have a bigger lot though, and probably is about the same size. I’m guessing she is talking about another house….
Ok, i found the correct address.
6203 lundy is plenty nice, too. but I’m talking about the true queen of the oe queen anne’s:
http://www.flickr.com/photos/eliezerappleton/4710371094/
(it was 6223)
google says owned by prominent chicago lawyer, and recipient of landmark preservation award for reno in 02. wonder if they do tours 🙂
Roma, considering how beautiful that house is, the large lot, being next to the park, and its location at the very back of OE, my guess is that it is in a different field than this house. Also, they paid $460k or so in 2000 and put over $1M of work into it to rehab/renovate it in 2000-2002 (according to the Trib) so if they put in $1.5 in 2000-2002, with the uniqueness of the home, I wouldn’t be surprised if they could get that amount back.
Without knowing more, it is all speculation though….
“Edgebrook school is over crowded at this point. Not sure why people think there are no kids in the area.”
there is a huge addition being built to it at this moment. Sauganash and Garvey (garvy?) additions are both finished.
“especially when you’d have to walk on Central to get to anything from this place ”
from this house there are two “secret” trails that you would take instead of walking on central
“Groove should know which one I’m talking about (is he still around?)”
it sold and DZ and i were saying it was a perfect comp for expected sale price
“recipient of landmark preservation award for reno in 02”
leads to the question i asked a while back about this home. could one change the porch here (open it) or is this a historical dont touch thingy?
” could one change the porch here (open it) or is this a historical dont touch thingy?”
hard to say for certain. I read an article in This Old House magazine about a lady who renovated an old Victorian in a historical district in some southern state (quoting from memory here). Basically, because she removed the plaster from one wall, she lost her tax exempt status. However, that freed her up to do what she wanted with the place without having to jump through hoops to satisfy any willie-nillie requirements of any historical committee with nothing better to do.
“that freed her up to do what she wanted with the place without having to jump through hoops to satisfy any willie-nillie requirements of any historical committee ”
sometimes those committees/associations/groups have too much time and power on their hands. i am all about preservation but its all gray area and needs to be a case by case look.
Groove, from what I understand I think the porch probably could be opened/expanded even if the house is historical, especially if you can show it was originally that way. You don’t have to preserve non-historical features, so if they closed it in at some point, most historical committes/associations would acutally prefer it to be reopened.
“Groove, from what I understand I think the porch probably could be opened/expanded even if the house is historical, especially if you can show it was originally that way. You don’t have to preserve non-historical features, so if they closed it in at some point, most historical committes/associations would acutally prefer it to be reopened.”
thanks benji,
even if i could afford this house i wouldn’t be able to afford the upkeep of an old Victorian on a big lot.
but this is still grooves favorite hit the small lotto house 🙂
With the upkeep, redoing the porch and other updating it may need to be the big lotto. 🙂
“With the upkeep, redoing the porch and other updating it may need to be the big lotto”
big lotto mean getting the F out of crook county and even ILL’inois.
porch would only be like 10-15k if its structurally sound to start.
“even if i could afford this house i wouldn’t be able to afford the upkeep of an old Victorian on a big lot.”
Groove, do you mean the heating and lawn maintanance?
“Groove, do you mean the heating and lawn maintanance?”
i mean the costs involved with maintaining an old wooden Victorian, which is a higher heating bill, but the layout of Victorians are not on the conducive to maintenance side of things. like a old pipe leak, in more modern houses (40’s and up) you usually can go through a closet wall to get to it. In Victorians (and older small homes) you have to go through a bedroom wall or go directly through a bathroom tile wall and try to save the tile which ends up being more expensive. Conduit was layed out with a 1920’s electric mindset updates from then worked around this premise and will have many compromises and hiccups frequently.
add all that to the sheer size of a victorian you can see where it will add up
old victorians leak air like a beeeytch, heating and cooling will be higher.
Reduced to $749,900. Think they sellers are getting desperate reducing $100k in a couple of months?
benjamon9: I don’t know about desperate but there comes a time when a property has been on the market for years that you have to bite the bullet and move on with your life. Obviously, you’re not at market if it hasn’t sold yet (despite many people believing it “just takes one.”)
True, but why make that decision at the worst time of the year? There aren’t even many buyers to notice the $100k in reductions. If they’ve been able to sit on the market since 2/2010 why not pull it off the market and list at this price in January or February?
What else is for sale in Old Edgebrook right now?
Nothing.
So if you’re a buyer looking there- you only have one choice. From what I’ve seen in other houses selling right now- some things that I wouldn’t have thought would sell at their asking prices in a million years are selling right now simply because there is NO other inventory on the market. It’s actually a pretty decent time to be on the market if you have a move-in ready property or it’s somehow unique. All those vanilla 2/2s aren’t so lucky.
“What else is for sale in Old Edgebrook right now?
Nothing.”
6300 Louise and 6283 Louise (although under contract) are currently on the market in Old Edgebrook. Since this house was first listed at least 6203 Lundy ($765k) and 6200 Mandell ($517k) have sold. Seems like a lot of activity for such a small neighborhood. Why haven’t these sellers been able to benefit off it? Seems odd to reduce so much now instead of when 6203 Lundy sold nearly a year ago for so much less than they were then asking.
Um…because 6203 Lundy sold a YEAR AGO. That is forever ago in this market. Heck, prices are down another 5% or 10% in that time period (depending on the neighborhood.)
I’ve driven around in this neighborhood numerousl times. There are always one or two for sale (sometimes more.) One of those other ones was a foreclosure that has been listed (without pictures) for years. So I don’t count that as any kind of competition for this house.
It’s all about pricing, right? It was overpriced a year ago. Perhaps the agent has convinced the seller that now is the time to finally sell it. Perhaps someone has died or finally does want to go through with the divorce or the kids finally are throwing in the towel on the estate sale. I’m not saying any of those are the scenarios with this house- but this is what I see over and over again. Reality usually finally hits sellers- even if it’s several years later.
Oddly enough, it is the foreclosure with no pictures that is under contract at $699k even though it looks smaller on a smaller lot than this house. Something doesn’t seem to make sense.
I agree 6203 was a long time ago…but had they reduced to $745 shortly after that sold for $765 they probably could have sold fast rather than now it may still sit at that price because 6203 is too old to be a good comp. Hindsight is always 20/20, but this seller should have seen it then. Oh, well.