4-Bedrooms and a Short Stroll to the Blue Line: 3736 W. Eddy in Avondale
This 4-bedroom single family home at 3736 W. Eddy in Avondale was built in 2007.
It appears to be an ideal commuting location, just a couple of blocks to the Addison Blue Line station and the Kennedy Expressway.
The house has all the bells and whistles of new construction including the 42 inch cherry kitchen cabinets, granite counter tops and stainless steel appliances.
The 19×18 master suite has his and her walk-in closets and a bathroom with a jacuzzi, separate shower and double sinks.
There are hardwood floors throughout and skylights in the master suite.
The house is built on a standard 25×125 lot and has a 2.5 garage.
Avondale is being marketed as the next up and coming neighborhood in the city.
Is it?
Cara Mueller at JM Realty has the listing. See the pictures here.
Or you can also see the house at the Open House this Sunday, April 25, from 1-3 PM.
3736 W. Eddy: 4 bedrooms, 3.5 baths, 2.5 car garage, 3600 square feet
- Sold in June 2007 for $707,500
- Currently listed for $699,900
- Taxes of $8596
- Central Air
- Bedroom #1: 19×18
- Bedroom #2: 16×12
- Bedroom #3: 13×12
- Bedroom #4: 13×12 – lower level
This is the first news to me that Avondale is some sort of ‘hip neighborhood’ with green zone prices for SFHs.
Seriously who is going to drop 700k for a SFH in Avondale when you have so many other options in better neighborhoods at this price point?
The walk score info near the bottom of the listing has me giggling a little…
Restaurants: Subway
Hardware: The Home Depot
Retail: Kmart
KMART! SUBWAY!
It’s a nice enough home, new constructiony, but nothing out of the ordinary. I’d prefer to have another BR photo, as opposed to 3 bath photos and only 2 of the 4 BRs shown. meh.
Sfh new construction close to the el but not on it doesntg come cheap.
A SFH for a 2007 price in Avondale? This place should be on the market for $550,000.
Wrong side of addison.
700k in chicago gets you MANY other good options on the blue line.
postive you can walk to smoque. if you dont know about smoque, learn, darn good brisket
True, but they’re not going to be 3600 SF of new construction.
“700k in chicago gets you MANY other good options on the blue line.”
“True, but they’re not going to be 3600 SF of new construction”
good point, but i would take 1000sf less not to NEED a iron fence around my property.
Mmmmmmm…Smoque
Too many expensive Chicago single-family listings, and not enough potential buyers interested in remaining in Chicago and affording those asking prices. Wait for interest rates to go up, as predicted. Home sales over $600,000 will appreciably slow down even more.
IMO, gentrification of “new” Chicago neighborhoods is over.
This area isn’t that bad. There are plenty of nice homes on the block. It’s sort of on the edge though, Belmont/Pulaski gets a bit sketchy. A few blocks south in the ‘hood are lots of multi-units. It isn’t worth no $700k but cheapish large new construction homes walking distance from the el are quite are quite rare. If they were so abundant we’d all be living a block from the el in new construction.
Personally, I’m worried about buying the LP market. I wonder if it is a different market once you are in the 1 – 1.5 mil range and how that market will be affected going forward.
“700k in chicago gets you MANY other good options on the blue line.”
In terms of actual listings around $700K at the moment, it doesn’t get you much in Bucktown or Wicker. There’s this place in Logan Sq that we’ve talked about (and think is overpriced). The Logan Sq house is not as nice but I think I would still take it over the Avondale place at the same price point based on location. I suspect there’s stuff in Irving Park that would be clearly superior to the Avondale house, but I never look there. HD?
http://cribchatter.com/?p=8373
“True, but they’re not going to be 3600 SF of new construction.”
As long as the new construction is in Chicago, I’m not buying it. (e.g., http://www.chicagopublicradio.org/Content.aspx?audioID=40224) Had to fulfill my usual role as the new construction Cassandra. 🙂
“True, but they’re not going to be 3600 SF of new construction.”
This is the old line Joe Zekas tries to use to somehow add some sort of premium to new construction. I really don’t see the difference between new construction, recent construction, and a full gut rehab, nor why new construction should command any sort of premium over the other two.
“In terms of actual listings around $700K at the moment”
look in Mayfair some great old chicago houses and nice pocket hood right off the montrose blue line (two stops off addison)
look in Jeff park too, three stops off addsion.
and in OIP 700k can do you some good too.
you want a feel of this “up and coming” avonadle hood/house just take a walk down pulaski from addison to belmont, then tell me about a 700k house here.
brother is actually a good hood bar and la villa’s pizza aint that bad. there is a really great Ecuadorian restaurant on pulaski that is insanely awesome for the price you pay.
“This is the first news to me that Avondale is some sort of ‘hip neighborhood’ with green zone prices for SFHs.
Seriously who is going to drop 700k for a SFH in Avondale when you have so many other options in better neighborhoods at this price point?”
I have never heard anyone say they actually wanted to live in Avondale. I don’t know of a green zone house for $700K that has comparable space/finishes/etc (I don’t particularly like some of the design choices in the bathrooms especially, but talking about the level of finishes).
PS The top CPS school tier is green in the sun times map Bob linked to a while ago that I finally saw yesterday and thought was very interesting:
http://www.suntimes.com/news/education/2007536,CST-NWS-skuls24.article
Argh. That tract area 071600 is the one with all the huge combined lots
I used to live just on the other side of Pulaski from this house. The area close to Addison is VERY different than that around Belmont. It gets progressively sketchier as you go south. This house and neighborhood still has a bit of the feel of Old Irving/The Villa, although with much smaller lots. Safe enough for sure — no iron fences necessary, Groove.
That said, it is BORING over there. There is very little of interest within an easy walk.
“That said, it is BORING over there. There is very little of interest within an easy walk.”
This has always been my take on Avondale. It’s just kind of boring in general. My old roommate lives right by Smoque, and that’s basically the only thing of value around.
OIP, Independence Park, OIP, etc, are nice because: it is near the el, near the highways, on the metra, has a nice income demographic and it has larger older homes on enormous lots. It doesn’t have anywhere near the neighborhood amenities as the green zone hoods and prices reflect that. The food choices are sufficient but limited, shopping is sparse. This house is sort of the edge of that. But if you want new construction for $700k, near the el, and you can travel to other ‘hoods for entertainment…this might be for you. $700k is high no doubt, way too high, but this should sell for more than the average house in the ‘hood.
“I really don’t see the difference between new construction, recent construction, and a full gut rehab”
Okay; I don’t know who can reasonably dispute that. But where are all of these recent-new and gut rehab SFHs in better hoods that are comparably sized and less than $750k? And don’t show us McK Park or B’port, b/c you can’t convince me they are “better” than Avondale.
Perhaps Edgewater, RP?
There’s also this place in Logan Sq for $700K. I like it more than I did when I first saw the listing a while ago. Any Logan Sq people know anything about it?
http://www.redfin.com/IL/Chicago/2616-N-Whipple-St-60647/home/13450216
You know, the area is pretty boring, but again, i enjoy living in the city and a short cab ride from everything, i have a 5 minute walk to the el, i always get a seat, i take the metra home on late nights; i’m near the highway to get to the burbs for work occasionally, there’s street parking always, the neighborhood is relatively safe. I’ve lived in the city since I was 17 and I’m well into my 30’s now and at every point in my life there’s been a different neighborhood in Chicago to suit my growing needs.
DZ: That link yesterday to Mark Hansen’s interview provided by Dan was quite interesting. He said he thinks that within the next few years million dollar homes will be owned by millionaires. He said that a million dollar home will be owned by somebody who puts down $275k and has a consistent income well in to the $200k a year and has a net worth to back up his leverage. He says there are just too many million dollar homes and not enough millionaires to fill them all. I too believe that today’s $1,000,000 homes will be tomorrow’s $700k homes; like I always say, a million dollar home is a million dollar home because the banks are still willing to lend a million bucks. The credit scores of borrowers for million dollar homes have improved but the amount of leverage hasn’t been ratcheted down very much.
“In terms of actual listings around $700K at the moment, it doesn’t get you much in Bucktown or Wicker. “
And the HUGE HUGE thing i hate about new construction (one of many) is the fricken use the WHOLE lot for the house to the point where the back door is 10 feet from the garage.
this place is no exception, at 3600sf i dont need a satellite view to know this place has NO YARD in a hood that is SFH/yard vibe all over it.
“Safe enough for sure — no iron fences necessary, Groove.”
I will still say wrong side of addison it is safe somewhat if you dont travel towards belmont. i still wouldnt like to take a stroll in july on a saturday at 9pm.
Before the little one i would play some pickup games at athletic right there, the quality of people there were not the best i can say
I grew up in Lake View, and most definitely *chose* to live in central Avondale. I love the access to the blue line, expressway, and proximity to Logan Sq and my old neighborhood via the 24/7 Belmont bus.
while it’s not what I like about Avondale, the march up Milwaukee of expelled 20 somethings from Wicker Park & Logan Sq continues growing – when they pump $12 million into the Sachs Building it will be a very big deal, just watch…
“million dollar homes will be owned by millionaires. He said that a million dollar home will be owned by somebody who puts down $275k and has a consistent income well in to the $200k a year”
[yeah, i know i cut off the last clause]
There are and will continue to be a LOT more people who have $250k for a dp and incomes of $250k+ than there are and will be millionaires. So there’s a disconnect there.
Of course, I don’t disagree that there are too many $1mm+ homes for the number of people who can *actually* “afford” (whatever that means to them wrt tradeoffs) a $1mm+ home.
btw, boring? depends what you like, I guess. I’m easy walking distance from Small Bar, Kuma’s, the Logan Theater, etc., and being a 5 minute walk from a subway stop is hard to beat – especially in the winter!
“The credit scores of borrowers for million dollar homes have improved but the amount of leverage hasn’t been ratcheted down very much.”
You’ve said before that leverage is still much higher now than pre bubble. Is that really true (I know you offered some anecdotes)? I genuinely don’t know. Is 20 percent down the standard now? Is it different from the past for $1MM homes?
“I grew up in Lake View, and most definitely *chose* to live in central Avondale”
Do you actually prefer Avondale to say Logan, setting aside price? I know people who genuinely prefer Logan or Bucktown/Wicker or whatever to other places even if everthing were the same price (which isn’t to say that they would pay the same price for a SFH in Logan as in Lincoln Park). Do you really prefer central Avondale?
DZ: [2616 Whipple]
That’s a seriously big garage! And you could add a two-sided GatorDeck. They did a great job with the yard picture of hiding how tiny it is.
I don’t like yellow brick, but I don’t know if they did the place any favors with the facade-replacement (depends on actual materials–looks like crap in the pic). The interior is borderline whitebox–you’d wind up putting a fair amount of work/$$ into “finishing” the place. The tree overhanging the roof from across the alley has the potential to be a pain. And if the building fronting logan hasn’t been converted, I would then consider the alleyside location a clear negative (where I’m usually split b/t the plus of the extra light and the minus of extra alley exposure.
“I have never heard anyone say they actually wanted to live in Avondale. I don’t know of a green zone house for $700K that has comparable space/finishes/etc (I don’t particularly like some of the design choices in the bathrooms especially, but talking about the level of finishes).”
I’m not inviting a bunch of comments about how these listing aren’t comparable. Just to make the point that you can live in a nice home in a way better area for the same or LESS.
2057 N. Leavitt (3/2.5) $669K
2141 W. Cortland (3/2.5) $679K
2023 W. Moffat (3/3.5) $699K
Skeptic,
side question, its been a few years is that animal/pet/supply/jungle place still over there just east of central park ave? i used to go there all the time when i was a shortie, i wanna go back and be nostalgic plus pick up a few things.
You know DZ, 80% financed today is a lot more leverage than 80% leverage of days past. We’ve seen numerous examples of green zone homes selling in the $500’s, $600’s and $700’s during the late 90’s or early 2000’s and today selling for $800, $900, and $1,000,000 or more.
20% down on a $800k home in 2001 required only $640k in leverage wheres today that same home sells for $1.2 mil and even with 20% down you require nearly a million dollars. Same home. Same % down payment – yet there is 33% more leverage. The 2010 buyer has only a $80k larger down payment yet he finances $320k more.
Has the income of the professional class on a whole during the 2000’s increased so much as to support these increased valuations going forward? I know interest rates are lower and ARMS are more prevalent so buyers can afford more bang for their buck so to speak.
Sorry Groove (if this is the place you are talking about):
http://www.chicagobreakingnews.com/2009/11/animal-kingdom-pet-shop-closing-its-doors.html
“I don’t like yellow brick, but I don’t know if they did the place any favors with the facade-replacement (depends on actual materials–looks like crap in the pic).”
I thought the front picture looked off (that’s what put me off when I first saw the listing), didn’t realize it was a replacement, I was thinking it was just a bad photo.
“Sorry Groove (if this is the place you are talking about):”
NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO
life sux
“NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO
life sux”
Groove, on positive side, graffiti activity is picking up, maybe you could get your dose of nostalgia that way. Please steer clear of my area of Logan.
http://www.nbcchicago.com/news/local-beat/Graffiti-Blasters-Losing-the-Battle-91461199.html
So Gary it looks to me like lower priced homes are selling briskly and not much else. It appears the market is being supported by it’s traditionally weakest segments: 1st home buyers and flippers.
1st home buyers will significantly decline as soon as the tax credit expires. Except great sales figs between now and June. Look out below after that.
Investors buying foreclosures will be the largest slice of the market after June 30. Considering that they buy on only on the cheap, they’re going to contribute to a crash in prices after the tax credit expires.
“I’m not inviting a bunch of comments about how these listing aren’t comparable. Just to make the point that you can live in a nice home in a way better area for the same or LESS.”
Well, yeah. And you can point to condos in the Gold Coast, too, if you aren’t concerned with them being comparable.
“Well, yeah. And you can point to condos in the Gold Coast, too, if you aren’t concerned with them being comparable.”
Duh. My point was that you could still get a nice single family home in a better area for the same price. So what IS comparable about them is (1) nice and (2) SFH. Don’t be so argumentative.
http://www.redfin.com/IL/Chicago/3839-N-Keystone-Ave-60641/home/13458585
Here’s what $599,999 will buy you today in OIP. Listed just yesterday. I’d take this any day over the house in Avondale. $100k cheaper too. The two homes are walking distance (walking up Avondale Ave.). Sure it ain’t new construction but Wow that’s a nice looking home.
I gotta get some work done today people, this site is so distracting!
“80% financed today is a lot more leverage than 80% leverage of days past. We’ve seen numerous examples of green zone homes selling in the $500’s, $600’s and $700’s during the late 90’s or early 2000’s and today selling for $800, $900, and $1,000,000 or more.”
I really thought you were claiming before that 20 percent down was not the norm pre bubble. I’m also not sure what you’re saying is true for homes that haven’t had significant renovations. It’s not what Case Shiller (which I recognize is not tracking exactly this set of homes) would imply (in real dollar terms).
“there is 33% more leverage”
No, there isn’t. “Leverage” is still 4:1. There is 33% more debt, but the leverage is the same.
“No”, you say? Well, using your example ($800k house, with $640k debt, becomes $1.2mm house)–what if the ’10 buyer also borrowed $640k, and put $560k down? The way you used “leverage”, one would have to say that the ’10 buyer has just as much “leverage” as the ’01 buyer. But that’s *absurd*–the ’10 buyer, with $560k down is *much*, *much* less leveraged than the ’01 buyer with the same amount of debt. Leverage is a ratio thing, not an absolute thing.
“Groove, on positive side, graffiti activity is picking up, maybe you could get your dose of nostalgia that way. Please steer clear of my area of Logan”
as much as i enjoy those days and had fun doing those things, Old groove regrets the damage and headaches he caused with the crap i called “art”. Give i hit up a few train stations a roof tops drunk when i was 27 and that was the last time.
Jon,
your Bias towards bucktown shows all over each your posts 🙂
HD,
I do like that house but that 100k you save you will need 70k to redo that kitchen and get rid of the shyt vinyl siding.
Sorry anon(tfo): 33% more debt,33% more debt and 33% more debt to buy the same house in 2010 as in 2001. it is the same 4:1 levearge but with higher sales prices it means more debt. I don’t think incomes increases over the years (along with increases in everything else) have made it easier to support 33% more absolute debt.
“Jon,
your Bias towards bucktown shows all over each your posts”
Well, true. But also I try to talk about things that I know about. I think I know Bucktown having lived there almost 10 years. Some of the hoods on here might as well be Mundelein because I don’t know shite about them and don’t want to!
“btw, boring? depends what you like, I guess. I’m easy walking distance from Small Bar, Kuma’s, the Logan Theater, etc., and being a 5 minute walk from a subway stop is hard to beat – especially in the winter!”
Eh, I sort of just meant it on a relative scale. Compared to (totally picking an intersection out of a hat) Diversey & Clark, Avondale is a snoozer.
Of course, but for those of us in the “been there, done that” category regarding the hustle & bustle of east Lakeview, I prefer having less grid-lock – it’s easy enough to get to those areas from Avondale, and how often do I really need to shop at the Century, you know?
“animal/pet/supply/jungle place still over there just east of central park ave? ”
I think it just shut down, earlier this year. It was better as a nostalgic memory, trust me. : )
The person buying this place will be totally out of place. A family earning $175,000+ in this neighborhood doesn’t really exist at this point. The price is a joke and this house never should have been built here.
“A family earning $175,000+ in this neighborhood doesn’t really exist at this point.”
Dave, you really have no idea what you’re talking about. My wife and I are at about that amount, and have quite a few friends in the area there as well.
Of course, we aren’t the kind of folks who buy overpriced new construction, so you’re partially right.
If anything, i was also referring to over $230,000, which would be more reasonable to expect, given the updated lending standards. It is south of addison as well. Not the spot to be.
“My wife and I are at about that amount, and have quite a few friends in the area there as well. ”
Oh noes, you’re in the Bob-dreaded know-lots-of-people-making-over-$150k cohort. Everything you say will now be suspect.
“My point was that you could still get a nice single family home in a better area for the same price. So what IS comparable about them is (1) nice and (2) SFH.”
I would also pick the Bucktown places over the Avondale one, but the Avondale house itself is nicer. When I am in bear market mode, I think one of the things keeping prices up in the city is that true comparables are so difficult. Neighborhoods differ so much, even blocks within a neighborhood differ a lot. And the houses themselves are so heterogeneous. One of my colleagues claims that prices in naperville have come down significantly more than in the city and that he thinks it’s in part b/c houses are much more comparable out there. When you have 10 houses pretty much the same on the market, the thing that will budge is prices. Which isn’t to say that the same thing won’t happen in the city but the equilibration process can be a lot slower when the houses are much less comparable.
“Okay; I don’t know who can reasonably dispute that. But where are all of these recent-new and gut rehab SFHs in better hoods that are comparably sized and less than $750k? And don’t show us McK Park or B’port, b/c you can’t convince me they are “better” than Avondale.”
I think those neighborhoods are comparable to Avondale (B’port at least). But no I was talking about north side off the beaten path ‘hoods, which is what Avondale is.
Here I’m too lazy to surf the MLS but here is a place with brand new homes as well for at least 150k cheaper.
http://www.mayfaircrossing.com/
“Oh noes, you’re in the Bob-dreaded know-lots-of-people-making-over-$150k cohort. Everything you say will now be suspect.”
I’m sure skeptic and yourself know dozens, nay, hundreds of people in this earning cohort who live or desire to live in Avondale. That neighborhood is such a wealth magnet I’m not sure why they haven’t renamed it the Platinum Inland, to compete with the GC.
Also I have no doubt that these power couples making 150k+ or 175k+ love to take the Blue line. Its so modern and expeditious its easily worth paying an extra few hundred grand on one’s domicile to be in close proximity to it, or even three-quarters of a mile away.
@anon
“I don’t like yellow brick, but I don’t know if they did the place any favors with the facade-replacement (depends on actual materials–looks like crap in the pic).”
-I’m not possitive from the low-res pictures but it looks to me as if they used cinderblocks to fake a graystone facade. I live in a real graystone. My front is 8′ thick real limestone. And its not a facade, the stone is the actual structural wall. This place probably originaly had 3 course of brick on the front. They probably removed one course and laid in cinderblock. I’m definitely going to drive by this disaster on my way home today.
I can’t beleive that someone would actually do somethign like that, its horrendous. Also make me extremely woried about the rest of the contruction/rehab.
@Architect, any insight into this fasade?? Have you ever heard of someone replacing brick with cinderblock???
“My wife and I are at about that amount, and have quite a few friends in the area there as well.”
“Oh noes, you’re in the Bob-dreaded know-lots-of-people-making-over-$150k cohort. Everything you say will now be suspect.”
Ok am i the only one not in this boys club of 150k, seriously did i miss the memo on career moves or something. i can count on one hand the *close friends i have that make 150k+ now.
screw it its the intertubez, so i am a spoiled trust fund kid that wears red socks in my 4000sf duplex-side-and down and all my homeslices are 250k power couples looking for 1mil 2/2 garden condos in LP.
“I have no doubt that these power couples making 150k+ or 175k+ love to take the Blue line. Its so modern and expeditious its easily worth paying an extra few hundred grand on one’s domicile to be in close proximity to it, or even three-quarters of a mile away.”
I’m with you on the Avondale thing, but the blue line has been awesome ever since they fixed the slow zones. I have a legit 25 min door to door commute.
“prices in naperville have come down significantly more than in the city and that he thinks it’s in part b/c houses are much more comparable out there”
Seems very likely. Especially with the precise location being less important (ie, one mile from train/tollway isn’t much different from 2 miles, and the difference b/t school attendance areas are much less).
On that (off-topic) subject, check out this one:
http://www.redfin.com/IL/Naperville/958-N-Loomis-St-60563/home/21732843
Sold in Mar-08 for $1.8mm (apparently as a flip, as it shows as listed again in Jul-08), and now on the market as REO for $749k (after two price drops, following a delisting after two prior price drops).
$1.24mm First mortgage (i/o @ 6.5% initial, just to make HD happy–presently DuPage has free access to actual docs) and a $180k 2d. I don’t *really* believe that the single person buyer put up $360k of real money, but who knows?
“I’m sure skeptic and yourself know dozens, nay, hundreds of people in this earning cohort who live or desire to live in Avondale. That neighborhood is such a wealth magnet I’m not sure why they haven’t renamed it the Platinum Inland, to compete with the GC.”
LMAO! oh bob you never fail to deliver
Mine’s 30 minutes from Irving Park. I get a seat almost every ride at 7:30 a.m.
AND there’s no empty peanut shells or chicken bones under my seat.
“#DZ on April 22nd, 2010 at 10:42 am
“I have no doubt that these power couples making 150k+ or 175k+ love to take the Blue line. Its so modern and expeditious its easily worth paying an extra few hundred grand on one’s domicile to be in close proximity to it, or even three-quarters of a mile away.”
I’m with you on the Avondale thing, but the blue line has been awesome ever since they fixed the slow zones. I have a legit 25 min door to door commute.”
“I’m sure skeptic and yourself know dozens, nay, hundreds of people in this earning cohort who live or desire to live in Avondale.”
Only to the extent I “know” skeptic.
“I think those neighborhoods are comparable to Avondale (B’port at least). But no I was talking about north side off the beaten path ‘hoods, which is what Avondale is.
Here I’m too lazy to surf the MLS but here is a place with brand new homes as well for at least 150k cheaper.”
You said “better neighborhoods”. Since when is Portage Park “better” than Avondale? And in what way?
“On that (off-topic) subject, check out this one:
http://www.redfin.com/IL/Naperville/958-N-Loomis-St-60563/home/21732843”
My colleague was saying he had seen some serious foreclosure deals.
“AND there’s no empty peanut shells or chicken bones under my seat.”
When I first moved to Chicago I lived in River North and was a bit sheltered. Almost never took the el or bus. First time I took the blue line was out to o’hare b/c of traffic, there was something rolling around against my foot, assumed it was a bottle or something and didn’t think much of it. Dildo. Took cabs to the airport for two years after that.
“You said “better neighborhoods”. Since when is Portage Park “better” than Avondale? And in what way?”
Also, I’m sure that having “Chicagoland’s largest and only independent wholesale hardware distributor” adds to the charm of the Metra tracks in the backyard.
“You said “better neighborhoods”. Since when is Portage Park “better” than Avondale? And in what way?”
Its comparable and the house is 150k cheaper.
But fine since you’re arguing just for the sake of arguing a quick MLS search yields 2641 N MARSHFIELD AVENUE (MLS 07379494). Its a 4/3.5 3,500sf house in LP built in 1994 for 750k. Sure not NEW but new enough to include all modern amenities and far better neighborhood.
If I can afford a 700k house I don’t think its a stretch to afford 50k more, or negotiate, to live in a far better neighborhood.
Stop being an argumentative DB and search the MLS for yourself I’m not making sh_t up that 750k is obscene for neighborhoods like Avondale.
Err 700k is obscene, rather.
“When I first moved to Chicago I lived in River North and was a bit sheltered. Almost never took the el or bus. First time I took the blue line was out to o’hare b/c of traffic, there was something rolling around against my foot, assumed it was a bottle or something and didn’t think much of it. Dildo. Took cabs to the airport for two years after that.”
Its just like you snooty RN folk to be offended by the obligatory, likely heavily used, sex toy scraping up against you on the CTA. You don’t take the Red or Green line much do you?
This is a $750k house; it’s just not a $750 house in avondale.
anon(tfo) $20k taxes on the house in naperville? OUCH!
“This is a $750k house”
Yeah in Brooklyn.
“2641 N MARSHFIELD”
As much as I dislike that immediate area and as much as that house seems to have a weird layout, I’d *certainly* choose that one over the avondale house. Something must be wrong with the place–paid $419 when it was new in ’94 and has a $680k refi mortgage from ’06.
“Stop being an argumentative DB”
Funny!
June of ’07, the time of this home purchase, i remember it distinctly, there was an anything goes attitude! in the air. Buy now or be priced out forever! Sell in 3-5 for appreciation and buy a bigger house in the suburbs!
At the time I’m sure it made perfect sense to pay $700k for a new construction home just across the street from the villa and in the hip upcoming ‘hood of avondale. Homes in the villa, old and decrepit, were selling in the $500’s and 600’s. Here was an opportunity to be just across the street, and to get new construction for only $700k! When the ‘hood comes around by 2010 they could sell for $800k or $900k for sure! Oh the optimism was in the air.
Now they’re looking at a blood bath. Nobody will pay $700k for this home, here. 20 blocks east at addison and ravenswood this is a million or slightly easily.
“Something must be wrong with the place–paid $419 when it was new in ‘94 and has a $680k refi mortgage from ‘06.”
Yeah if they were smart they took out the cash and hid it in an interest bearing offshore acct. Then when the LP market falls even more they can jump in and get a much nicer place. Its called effing over the bankers for fun & profit.
“anon(tfo) $20k taxes on the house in naperville? OUCH!”
Well, someone “paid” $1.8mm for it and WFB’s appraiser thought it was worth that. What’s the assessor supposed to do? I’d expect the next buyer should be able to get them cut by 40% or more.
“Seems very likely. Especially with the precise location being less important (ie, one mile from train/tollway isn’t much different from 2 miles, and the difference b/t school attendance areas are much less).”
It’s absolutely true – as long as you’re in Naperville city limits (or parts of Aurora), you’re in a great school district. Sure, you might be able to argue the merits of North vs. Central (GO REDHAWKS) or the various Jr Highs, but one way or another, they’re all in a great school district. Since everything is so car-centric and there are strip malls as far as the eye can see, there are very few things that influence prices when strictly speaking about location (proximity to downtown/Metra, not being on the main drag, ummm).
Naperville doesn’t suffer quite as bad from the sameness that PLAGUES areas like Plainfield and Romeoville, it was at least mostly established before the Neumann Homes of the world got their hands on acres of cheap land. Do a google maps and look around there, it’s actually kind of depressing even from that angle. Rows upon rows of the same house as far as the eye can see.
“Do a google maps and look around there, it’s actually kind of depressing even from that angle. Rows upon rows of the same house as far as the eye can see.”
This is most of America. Oh wait..some cities have a UDF or WaWa instead of a 7-11.
“I’m with you on the Avondale thing, but the blue line has been awesome ever since they fixed the slow zones. I have a legit 25 min door to door commute.”
yep – my wife (who btw earns the lion’s share of our $150K) gets to her office in 30 min. very hard to beat, and being at Belmont means she doesn’t have to freeze her butt off in the morning while waiting.
don’t get me wrong, this is way too much money for Avondale, I totally agree – but Avondale has a lot going for it for people like us who wanted space & transportation convenience over “newness.”
Given Avondale at $700,000, I’d recommend Galewood (Oak Park to Harlem, North to Metra tracks south of Fullerton) and it’s jumbo renovated stylish bungalows at $350,000+ (and other interesting houses) on standard-city and three blocks of deep oversized lots, with a 15-minute Metra ride to Downtown and two stations within walking distance. Though Galewood is technically Austin, it has the Elmwood Park zip code, and a quiet atypical ambience of a city neighborhood. Brickyard for daily retail requirements. Oak Park/Forest Park/Elmwood Park’s North Ave for entertainment and dining, Oak Park for university-quality library and Trader Joe’s, River Forest for Whole Foods, and Costco is developing old Kiddieland site. Galewood!
“You said “better neighborhoods”. Since when is Portage Park “better” than Avondale? And in what way?”
Anon, shame on you, you should know that answer PP is 10x “better” in all way than avondale (i would have said except price but the 700k for this sad place screwed that up)
“I’d recommend Galewood (Oak Park to Harlem, North to Metra tracks south of Fullerton”
SHHHHHHHHHHH architect, we need to keep galewood a secret we dont need a 700k monster popping up there in my new hood. most people wont go there no EL stop and its one of the small pockets people dont know about but gush on after they visit someone there.
This is a better deal, no? If you’re not fussy about the missing appliances and whatever else that might imply.
http://www.redfin.com/IL/Chicago/3758-W-Eddy-St-60618/home/12577405
“Anon, shame on you, you should know that answer PP is 10x “better” in all way than avondale ”
Ah, Insane Deuce. Should have known.
“There’s also this place in Logan Sq for $700K. I like it more than I did when I first saw the listing a while ago. Any Logan Sq people know anything about it?
http://www.redfin.com/IL/Chicago/2616-N-Whipple-St-60647/home/13450216”
did you notice this about it:
Jan 30, 2008 Sold (Public Records) $402,500
I really don’t see that they did $300k in renovations here.
“This is a better deal, no?”
Too bad they (apparently) split the lot. Sure looks like a *much* better deal.
“did you notice this about it:
Jan 30, 2008 Sold (Public Records) $402,500
I really don’t see that they did $300k in renovations here.”
I thought maybe they picked a greystone up cheap. Apparently I was QUITE mistaken. Also saw this. Someone paid $600K in 2007 planning to do a gut rehab in Logan??
http://www.redfin.com/IL/Chicago/2512-N-Richmond-St-60647/home/13449778
“Ah, Insane Deuce. Should have known”
in my day PP was Gaylords and Cobras 🙂
“Someone paid $600K in 2007 planning to do a gut rehab in Logan??”
Also: Someone paid $355 for that as a 2-flat in ’99? And someone’s buying it now as-is for $400k+?
Is that a particularly nice block?
“Is that a particularly nice block?”
Don’t really know, don’t walk on that particular block. Looks nice enough, not exceptional, on streetview. It is a 30 ft lot.
Has to be a better deal than this one. Sacramento is an extremely busy through street and I’m assuming you could get the Richmond house to the same condition for under $350K.
http://www.redfin.com/IL/Chicago/2507-N-Sacramento-Ave-60647/home/13450708
“in my day PP was Gaylords”
He he. Did you call them that to their faces?
“I’m assuming you could get the Richmond house to the same condition for under $350K.”
Only wildcard I see is that the Richmond house’s basement doesn’t appear to be quite as tall.
“He he. Did you call them that to their faces?”
nah they just yelled it out with some other finger signs, silly gangbangers with their sign language and goofy names
the Gaylords were tough once upon a time (at least relative to the Simon City Royals, the only other white street gang I remember on the north side).
they could use a new webmaster, however:
http://www.gaylords712.com
“Simon City Royals”
hahahaha skeptic now we are showing our age, forgot about them.
And about 9 years back i would play in a b-ball league at kilborn park and would go early and warm up on the outdoor court. there were some 40-50 year old drunks hanging by the tracks long story short they started “represent’n” i ended up jawing one of them after i got tired of the guy talking in my face about how the “lords” ran this park and still do.
yeah, SCRs were a bunch of losers. I never got any grief from the LK “chapter” in my hood (Insane Unknowns, and they stayed pretty unknown and under the radar), but all ethnicities threw “Royal” around as an insult to one’s manhood.
btw, I note Avondale finally gets a category on Crib Chatter, whoo-hoo! Now, when does Canaryville?
“but all ethnicities threw “Royal” around as an insult to one’s manhood”
I got brass knuckled once by some stones cause i was wearing “royal” colors and walking with two white guys.
good times 🙂 and city livin
“I got brass knuckled once by some stones cause i was wearing “royal” colors and walking with two white guys.”
and hence groove’s (a) fear of too many white people and (b) hatred for yet-another-hood.
“I got brass knuckled once by some stones cause i was wearing “royal” colors and walking with two white guys”
Time to get little DZ out of the city.
“(b) hatred for yet-another-hood.”
that actually happened in albany park after a hearty lunch charcoal delights.
“Time to get little DZ out of the city”
i heard from a source (HD) palatine is lovely in spring 🙂
This place is pretty shocking– a)that a new construction like this exists in avondale (who knew)and b)price. There was a sale a couple blocks west for $528k this year, but I don’t see anything justifying this price. I was surprised to see a couple 800k+ and 1m+ sales nw of here, but that’s totally different hood n of grace.
DZ and Jon, one additional “sub 700k / near blue line / sf” of note might be new listing at 2718 n fairfield. I don’t like the location that much, but it’ll be interesting, given the recent activity at 2639 n fairfield (that we discussed relative to 2501 n http://cribchatter.com/?p=8373).
And, Groove, re: Animal Kingdom. We went there summer before last for the same type of nostalgia trip you were hoping for. . . it was crazy, nasty, like, criminally bad. I join skeptic that it needed to go, although man it would’ve been cool if someone had cleaned it up and restored it.
“it was crazy, nasty, like, criminally bad.”
it always was a bit sketchy there i never knew it when i was little but when i was pre-teen i knew something wasnt right. i guess it never changed.
we still have margies candies for nostalgia even though we lost zephyrs. and i found out that there is still another Mr. Subs on cicero a block south of irving 🙂
there’s still a Mr. Sub on Fullerton and Ashland last I checked – a real hold out!
btw, there is a LOT of expensive new construction in Avondale, but it’s all pretty limited to the area just southwest of the Target on Addison.
I’m personally jumping for joy this week, as several years of complaints and endless 311 calls have finally resulted in an abandoned/deserted/unsecured coach house being torn down on my block.
urban garden time. well, except for those pesky heavy metals in the soil…
“urban garden time. well, except for those pesky heavy metals in the soil”
doesnt that need the park district approval and alderman approval first?
mr. submarine is disgusting. Absolutely the cheapest cuts + awful breat. My office gets their crap for lunch meetings, its free and I still don’t eat it. Stop killing yourselves with that awful food
Under Contract.
“Under Contract”
Holy flurking schnitz.
If the Mr. Submarine talk didn’t scare em off, nothing will.
I wonder how the buyers will get the appraisal through at that price if the accepted offer was close to asking price. Then again, who said an appraisal is unbiased?
“I wonder how the buyers will get the appraisal through at that price if the accepted offer was close to asking price.”
Comps would seem to be 3412 & 3517 Albany and 3741 and 3743 Ridgeway. Sold from Sept-09 to Feb-10 for $615 to $648. So I guess the question is what you mean by “close”–I’d expect no problem with a legit appraisal for ~10% off ask.
Sold on 06/01/2010
$642,500
gotta say I’m a bit surprised, that seems high to me.
“gotta say I’m a bit surprised, that seems high to me”
I guess your online moniker suits you well.