4-Bedroom SFH on a Huge Lot Goes Under Contract Within 3 Days in Kenwood: 4933 S. Ellis
I didn’t even get a chance to go to Kenwood to get a picture of this 4-bedroom one story home at 4933 S. Ellis before it went under contract. (If I even could- as I don’t know how close this is to the President’s house.)
It went under contract in just 3 days.
Built in 1992, the listing says the one story house was “inspired by the style of C. F. A. Voysey.”
It has some unique features including the bedrooms divided into two separate wings with a semi-circular screened porch uniting the two areas.
It also has a heated greenhouse and is built on a massive 124.4×291 lot.
The house has central air and a one car garage.
The kitchen has white cabinets and white appliances.
Is Kenwood really this hot or was this just a unique property?
Miriam Zeltzerman at Urban Search has the listing. See the pictures here.
4933 S. Ellis: 4 bedrooms, 2 baths, 2944 square feet, 1 car garage
- Last sold in 1992 (no price provided)
- Originally listed in March 2012 for $1.195 million
- Under contract within 3 days
- Taxes of $9846
- Central Air
- Heated greenhouse
- Bedroom #1: 16×21
- Bedroom #2: 16×18
- Bedroom #3: 16×20
- Bedroom #4: 16×20
I can’t believe the number of homes going under contract – these are not short sales/foreclosures cheaply priced, or great places. Does anyone have March data yet (for contracts signed)?
I think this is because the house is unique AND Kenwood is hot. In addition to this home the house on the corner of Ellis and Hyde Park a block south sold and is being totally redone by the same company that did Obama’s next door neighbor. Definitely a lot of activity here considering the economy.
Also, only Obama’s block of Greenwood is closed. He is one block south and one block east.
I’d live in Kenwood for a yard like that. House I could do without, don’t love it.
This must be a mistake. The price must be $119,500 not $1,195,000 which explains why it goes under K so quickly. Or it’s just a really big lot. Regardless, I love America.
“I can’t believe the number of homes going under contract – these are not short sales/foreclosures cheaply priced, or great places.”
Not this again.
About half of all the sales are short sales/REOs. So don’t start about how all the activity is “normal” priced homes.
“I can’t believe the number of homes going under contract ”
so let me say what we say to you ever month CONTRACTS DON’T = SALES
and we get the schtick already “by now or be priced out forever” lets try a different one for 2012 please.
There is a ton in my neighborhood (river north) that has gone under contract in the last month. 6 units in my building and a 4 million dollar townhouse (see curbed today). The market is hot for nice product. There must be little supply. We got scooped on two houses we liked as other beat us to offer. They went around ask too.
Maybe it’s the greenhouse? Very unique in Chicago.
Otherwise, the house itself is plain ugly, both inside and out. Plus at 2900 square feet, there should be more than 2 bathrooms.
I saw the picture of the greenhouse and immediately forgot about the 8 pictures of boring 90’s design that preceded it. I’m guessing the buyer did the same.
That greenhouse is something from my dreams, though.
The way to get the best properties was to buy last fall or over the winter. It was really slow and there was actually some inventory; these days, the market has begun to rebound, at least volume has a bit. Not a lot, but markedly more than before.
“and we get the schtick already “by now or be priced out forever” lets try a different one for 2012 please.”
I still say the realtor’s comment to me “I have access to every home that’s on the market for sale.” is the winner
A lot of the good stuff I’ve been watching has gone under contract recently and some of the properties I’ve followed have even raised their asking prices. Market is definitely getting better.
I own a RE company and the last 60 days have been the best in a few years. I’m talking about CLOSINGS. The Chicago market is coming back. There is reason to be optimistic, I’ve heard the same thing from other RE folks. Don’t forget, consumer confidence one of the most important factors in the health of our economy.
“Plus at 2900 square feet, there should be more than 2 bathrooms.”
Should we revise the earlier requirement of more bathrooms than residents and possible guests to “more bathrooms than residents and possible guests and at least one bathroom for every 250 sq. ft.”?
“Plus at 2900 square feet, there should be more than 2 bathrooms.”
I agree. I don’t need 4 or 5 baths, just 2 full and one half/powder room. One full bath should be in the master, and other should be near two of the other bedrooms. A powder room wasn’t even among the original Unicorn Criteria, but the place we bought has one. It’s now an official Unicorn Criterion (I’d take 3 full baths as well…I just want there to be a restroom convenient to the living areas that is not used by the residents for bathing/tooth brushing purposes). For instance, I could probably (maybe) bend on the non-garage parking situation at the Shakespeare on LPW, but most of the units seem to be 2 baths (there was just one available in the $700’s, but it appears to have been withdrawn; now there’s just units in the usual $900’s range).
How about whichever is more acheivable:
more bathrooms than residents and possible guests and at least one bathroom for every 250 sq. ft.?
or
2 full baths and one non-resident tooth brushing/bathing powder room for guests
“some of the properties I’ve followed have even raised their asking prices”
That is one sale tactic I have never understood. “No one wanted to buy my house at $650k, I’m sure I’ll find someone at $699k!”
The only way raising the price makes sense is if it is a short sale and it goes under contract then the contract falls through because the bank will only agree to a higher price and then the place is relisted at the bank approved price.
Most vintage apts in the city have one full bath. Amazing how these days nobody wants less than 2.5, one of which must be a master. You better hope that there is at least 1″ water service, preferably much more, with that many water using units in your house.
“Does anyone have March data yet (for contracts signed)?”
Yes, and it continues to support only ~10% more sales than last year (the worst year by ~10% since pre-bubble.) This is what I have been saying in response all along to the shills that obviously do not understand the contract numbers.
“I own a RE company and the last 60 days have been the best in a few years. I’m talking about CLOSINGS. The Chicago market is coming back.”
The best 60 days in a few years? Do you shut down every summer? Every 60 day period from April through August since pre-bubble was better than the past 60 days. Even for Feb-Mar, that’s simply not the case for Chicago. The past 2 months are ~10% over the same time last year. 2011 was the worst year overall in closings since pre-bubble.
“these days, the market has begun to rebound, at least volume has a bit. Not a lot, but markedly more than before.”
I wouldn’t define ~10% as markedly more.
I’m not sure where your numbers are from. Are they IL, Chicagoland, distressed, non-distressed, new, resale, all of the above?
It’s anecdotal but yes, we are seeing more contracts and sales….as of late. Above and beyond 10% more than this time last year. A definite change. Broad numbers do not reflect a local market. For instance, prices may have dropped city wide 40% but how about in LP or LV or GC? Home values in Englewood have probably dropped by 90%. Those stats can be deceiving.
“Is Kenwood really this hot or was this just a unique property?”
Both. In addition there simply is not much on the market in KW/HP that can compete with this home. Only three other properties have at least 4 bedrooms and a quarter acre lot. Of those, two need a substantial amount of renovation/restoration work [4730 Greenwood and 4847 Woodlawn] and the other [1219 E 50th] while move in ready, is priced much higher at $1.55m… and you only get half the lot for that price. If you want the other half of the lot to give you the full 80×150 its going to cost you even more.
“I’m not sure where your numbers are from. Are they IL, Chicagoland, distressed, non-distressed, new, resale, all of the above?”
What did you mean by “Chicago market?” I defined it as all sales of sfh/condo/th in the City of Chicago.
“Those stats can be deceiving.”
Nowhere near as much as your original statement about the strength of the “Chicago market” as defined by the number of closings the past 60 days.
“we are seeing more contracts and sales….as of late. Above and beyond 10% more than this time last year. A definite change.”
Is “as of late” the same as your previous “60 days?” I agree that there are way beyond 10% more contracts. This will result in ~10% more closings in the Chicago market, as I have stated all along (and was the case for the past 60 days in Chicago.)
“Broad numbers do not reflect a local market.”
I find them to be much more accurate than realtor anecdotes.
One master bathroom for the parents, one bathroom for the kids (they will want privacy especially as teenagers), and a powder room for guests.
I guess I just expect more than 2 bathrooms in a property of this price and size.
I also wish his and hers bathrooms in the master would become more common. I would give up square footage or even a bedroom to have a bathroom of my own.
“I also wish his and hers bathrooms in the master would become more common. I would give up square footage or even a bedroom to have a bathroom of my own.”
I think his and her closets are more practical. do you really need your own dedicated bathroom? wouldn’t dual sinks be sufficient? Especially if you had a water closet 😀
I suppose it all depends on the neatness of one’s partner!
“I also wish his and hers bathrooms in the master would become more common”
Ze likes bathrooms, likes them everywhere. Off the kitchen, off the entryway, by the rec room. Think my last home had 8 or 9 (was never sure). but would want separate Master Bathrooms. Something about that is strange.
change would to wouldn’t.. makes more sense.. If that’s possible for me.
The market IS the hottest it has been in several years. Look for yourselves. I personally WISH it was getting worse because I am in the market to scoop up some nice property on the cheap – but this is NOT what I have been seeing. Anything that is close to a good deal is getting multiple offers – mostly all cash. It is a bit depressing……
His/her baths are sometimes seen in upscale vintage condos/co-ops, where the “master suite” really lives up to its name. On East LSD a typical luxury unit may contain a bedroom, sitting room/home office, and two large closet/dressing rooms leading to their respective bathrooms.
I do occasionally see this in some of the more luxurious new developments, but for some reason today’s couples seem to be ok with just one master bath as long as it has two sinks.
Of course in many cases the “master bath” becomes pretty much the domain of the “mistress” of the house, while hubby gets relegated to the hallway bath. It’s amazing how many times I’ll see the master bath decorated to the nines in a hyperfeminine manner (lace-trimmed towels and potpourri dishes), while the hall bath features such touches as plain dark terrycloth towels, whiskers in the sink, Axe or Old Spice on the shelf, and of course the ever-popular raised seat.
Always wanted to see the interior of that house, since it’s one of a few recently built houses in that neighborhood. I’m amazed that they had all that attic volume and don’t use any of it inside: it looks like a single-level high-rise condo… except for that greenhouse, and maybe the picture rails throughout.
The warm spring has got people itchin’ to move, I guess!
“The market IS the hottest it has been in several years. Look for yourselves.”
This may be. When we’re at 20 year lows in sales- there’s not a whole heck of a lot worse it can get (or can it???). So anything that shows a little spark is certainly better.
Is this hotter than the few month period when we had the first time homebuyers tax credit? There were people rushing to buy ahead of that November deadline that year (before they extended it the second time.) I don’t know. So I’m not sure I would call it the hottest in “years”. People feel like it’s better because the inventory is so low. But as G pointed out- sales are up just 10%.
Better to be up 10% than down though.
I for one will never be kicked out of the master bath, nor want two master baths. Two sinks are needed, but we can share an f*ing toilet!
Ben – OK OK already, share if you must, but pleeeezzzze, Just put the “f” seat down?!
I think the seat thing should be easy to solve. I don’t understand why that becomes such an issue. However, if we live together and sleep together and share our lives together we should be able to put our butts on the same toilet seat. 🙂
Even married persons have the right to a “zone of privacy,” however they may define it for themselves. A marriage license does not negate the Constitution.
I’m pretty impressed with the bedroom sizes. Not a one that’s under 16 feet on one side. Coming from tiny homes and apartments all situated on standard 25′ wide city lots, and bedrooms never much more than 10′ x whatever, those are all gigantic.
“I also wish his and hers bathrooms in the master would become more common. I would give up square footage or even a bedroom to have a bathroom of my own.”
Just imagine, his and hers in new construction. No one would ever use your toilet, ever.