Hear the Roars from Wrigley Field in this 2-Bedroom: 3705 N. Lakewood in Lakeview
This vintage 2-bedroom at 3705 N. Lakewood in Lakeview is close enough to Wrigley Field that you can hear the roar of the crowd during game days.
This building was converted to condos in 2007 and was rehabbed with new electric, plumbing, roof and windows.
The unit has the features many buyers are looking for including central air, washer/dryer in the unit and the coveted deeded parking space.
It has 9 1/2 ceilings with south and west exposures.
The kitchen has features from newer construction of that era including cherry cabinets, granite counter tops and stainless steel appliances.
This unit is priced $10,100 under the 2007 purchase price.
Is this a good starter property in a popular neighborhood?
Nick Patterson at Kale Realty has the listing. See more pictures here.
Unit #2F: 2 bedrooms, 1 bath, no square footage listed
- Sold in April 2007 for $350,000
- Originally listed in March 2011 for $344,900
- Reduced
- Currently listed for $339,900
- Assessments of $182 a month
- Taxes of $4445
- Central Air
- Washer/Dryer in the unit
- Parking included
- Bedroom #1: 12×10
- Bedroom #2: 12×9
- Living room: 14×13
- Dining room: 13×11
- Kitchen: 12×10
Looks like this unit was wasted on someone responsible with children. This place should belong to 2 motivated bachelors who could literally stumble home dragging all types of girls from the nearby bars and after-game party scene. There’s probably not a easier pick-up spot in all of America! I’m serious.
This is a 2/1 purchased for $350,000 with 5% $17,500 down. They could have rented just rented.
Hear the roars… see the drunks… smell the urine… taste the defeat…
The comments so far are spot on….
Roars from Wrigley are created by large crowds. You’ll be lucky to hear anything these days.
30 year fixed mortgage at market rates in april 07 + PMI = $2390 a month
add in assessments and taxes @ 552 a month
= $2942 a month to live in a 800 sqft 2/1 in wrigleyville
ouch I feel really bad for this family
“30 year fixed mortgage at market rates in april 07 + PMI = $2390 a month”
Who paid PMI in ’07? w/o checking, I’d be *shocked* if it isn’t a 80/15, with no PMI. Seems more likely the interest piece was under $1600/month, and more like $2150 all in. Which is still too much, but a far cry from $2942.
“Hear the roars… see the drunks… smell the urine… taste the defeat…”
Come on out to Wrigley Field this summer and see your 2011 Chicago Cubs.
Would make a great advertising slogan.
It’s a pentagon fcu 80/15.
“= $2942 a month to live in a 800 sqft 2/1 in wrigleyville
ouch I feel really bad for this family”
Yes, sad. And they will lose their $17,500 security deposit.
Oh come on, we’re all the way at the lake (straight east from Wrigley) and we’ve been hearing roars!
1 bathroom kills this place for a lot of people. Nice curb appeal though, and great school. Much to close to Wrigley though, as many of you have pointed out…
sorry anon, I didn’t realize $2390 was a far cry from $2150 (all 10% of it)
““= $2942 a month to live in a 800 sqft 2/1 in wrigleyville
ouch I feel really bad for this family”
Yes, sad. And they will lose their $17,500 security deposit.”
OK – these people paid 350k and are losing at least 17500 and everyone is “feeling bad” for these people and are in shock. Why aren’t you morons “feeling bad” for people who MAKE 350k a year and “lose” over 100k EVERY YEAR on taxes – yeah, out of mind, out of sight. Ridiculous
Fine anon, add in the equity/DP loss and i’m sure it cost much more than your 2700 a month and probably more than my 2942 a month to live in this place so BAM! Game, set, match!
um clio, because it likely hurts this family’s pocketbook much more? don’t be so obtuse and troll-ey today
Sonies:
I’ll take that $792/month if you don’t think it’s a big deal. Thanks!
I live in a 2/1. A couple miles west of wrigley and about 1/3 of the cost.
anon, you dork, my 2900 number included taxes and assessments…
Hd-can you ride your bike to wrigely in 3 minutes though?
“anon, you dork, my 2900 number included taxes and assessments…”
As did my $2150 (which, again, still to much). $337,500 at 6% is under $1600/month.
If I’m riding home drunk it feels like 3 mins.
I can bike there faster than I can drive there, and it takes roughly 20/25 mins going down side streets keeping a steady pace. Traffic on addison to the lake SUX on cubs game days.
“#Sonies on April 7th, 2011 at 11:55 am
Hd-can you ride your bike to wrigely in 3 minutes though?”
anon, a 337k loan @ 6% @ 30 years (which would have been low at the time) is $2020 a month where are you getting 1600 a month?
“is $2020 a month where are you getting 1600 a month?”
Excluding the principal, as the loss on the sale is being counted, too.
thats a bit of a stretch don’t you think, why don’t you factor in the 100 a month of mortgage interest tax deduction while you’re at it
while you’re doing that you completely disregard that they will have to lose their downpayment and any principal payments they have made over the last 4 years and probably bring even more money to closing
Sonies — I’m not sure its safe to assume they were/are paying PMI or what their rate was/is (e.g., teaser ARM rate). Your point probably nails it, just maybe not your math.
This place is going sub 300K.
“This building was converted to condos in 2007 ”
Says it all. Just because the owners were dumb enough to drop 350k on this at the peak of the bubble does not mean I will be dumb enough to pay anywhere near that.
“If I’m riding home drunk it feels like 3 mins. ”
As an attorney, you should know that you could get arrested for DUI if you are riding your bike drunk – and they will take your DRIVER’s license away. It is as serious as driving a car drunk.
stick to medicine clio:
“A vehicle is anything used to transport a person that is not powered by human power. The definition of a vehicle under Illinois law is the following:
Every device, in, upon or by which any person or property is or may be transported or drawn upon a highway or requiring a certificate of title under Section 3?101(d) of this Code, except devices moved by human power, devices used exclusively upon stationary rails or tracks and snowmobiles as defined in the Snowmobile Registration and Safety Act.
See 625 ILCS 5/1-217.”
“#clio on April 7th, 2011 at 2:13 pm
“If I’m riding home drunk it feels like 3 mins. ”
As an attorney, you should know that you could get arrested for DUI if you are riding your bike drunk – and they will take your DRIVER’s license away. It is as serious as driving a car drunk.”
Clio thinks he’s a lawyer. He’s an armchair internet lawyer, and not a good one at that.
These would seem to be a better deal and you could rent out the parking during day and night games. $20 for the first car, $30 for easy out.
http://www.redfin.com/IL/Chicago/3715-N-Sheffield-Ave-60613/unit-1/home/22844944
http://www.redfin.com/IL/Chicago/3715-N-Sheffield-Ave-60613/unit-3/home/12742720
clio, get a DUI on your moped one time?
Very interesting. I thought riding a bike drunk would be DUI as well.
This is why CC rocks. There is always something new to learn.
“In Illinois the vehicle code states (625 ILCS 5/11-1502)…..traffic laws apply to persons riding bicycles. Every person riding a bicycle upon a highway shall be granted all the rights and shall be subject to all of the duties applicable to the driver of a vehicle by this code, except as to special regulations in this Article XV and except as to those provisions of this Code which by their nature can have no application.
This would lead one to believe you could in Illinois. But I have never heard of anyone arresting/citing someone for DUI or speeding on a bicycle”
flo: the DUI provision of the vehicle code states that the driver must be in control of a vehicle, and the definition of a vehicle is above. So in theory, you can be charged with a DUI on a horse because it is not human powered.
“625 ILCS 5/11?501) (from Ch. 95 1/2, par. 11?501)
Sec. 11?501. Driving while under the influence of alcohol, other drug or drugs, intoxicating compound or compounds or any combination thereof.
(a) A person shall not drive or be in actual physical control of any vehicle within this State while:
(1) the alcohol concentration in the person’s blood
or breath is 0.08 or more based on the definition of blood and breath units in Section 11?501.2;
(2) under the influence of alcohol;
(3) under the influence of any intoxicating compound
or combination of intoxicating compounds to a degree that renders the person incapable of driving safely;
(4) under the influence of any other drug or
combination of drugs to a degree that renders the person incapable of safely driving;
(5) under the combined influence of alcohol, other
drug or drugs, or intoxicating compound or compounds to a degree that renders the person incapable of safely driving; or
(6) there is any amount of a drug, substance, or
compound in the person’s breath, blood, or urine resulting from the unlawful use or consumption of cannabis listed in the Cannabis Control Act, a controlled substance listed in the Illinois Controlled Substances Act, an intoxicating compound listed in the Use of Intoxicating Compounds Act, or methamphetamine as listed in the Methamphetamine Control and Community Protection Act. “
I saw a golf cart DUI case floating around the office a few years ago for some big shooter…
not in cook county btw
HD – you are wrong – my friend got a DUI while riding his bike back from the bars on Diversey. He was shocked because he purposely didn’t drive for that exact reason. It got lowered to reckless endangerment or something but it cost him 5 thousand and took two years to clear up.
Clio, you are making the same mistake that nearly all of my misinformed clients make: “I gotta friend who….”
You should know better than that.
http://chicagobikelaw.blogspot.com/2007_05_01_archive.html
Clio there are many physicians. I cannot see how this outs you.
We all know HD is a lawyer too.
clio, you wrote about your practice with Riz at length many months ago. You wrote about the million dollar lobby renovation. You spoke about ‘your patients’
what are you talking about?
clio: I would have believed you and almost defended you based on the same situation – I’ve had a friend claim receiving a DUI while on a bicycle (on Western actually). However the full link from miumiu stopped me and now I’m going to call him up to get the full story. I seem to recall he ‘beat’ it somehow, and the link might have been the way. I’m guessing he ended up with public intox rather than DUI.
Thank you HD & the collective CC crew for once again teaching me to dig deeper.
sorry HD – you are right – that was uncalled for…..
wicker – I am going to call my friend also (and I am going to start using my bike more!!!).
“courts in California and Illinois held that the DUI statutes did not apply to bicycles. The DUI statute only proscribed the operation of a “vehicle” under the influence, and the statutory definition of “vehicle” expressly exempted bicycles and other modes of transportation powered by humans.”
I also found this article, which was what HD was saying. so who knows? Im gonna stick to cabs. If you bought this place all youd need to do is walk I guess because there is plenty of bars in the close vicinity. Better be a cubs fan though or could get awkward hanging out with them every other day throughout the season. geez you guys need to lighten up around here.
All in after tax and op cost is more like 1,890 a month with loss on sale to be added into that number when known.
oh then agent fees and transfer taxes…
OFF TOPIC: The CoreLogic HPI shows that home prices are down YoY for the 7th straight month and the index is now 4.1% below the previous post-bubble low set in March 2009. Double dip.
Another off topic:
Here’s what $700 a month gets you in NYC:
http://www.youtube.com/watch?v=JZSdrtEqcHU
Her immigrant family probably started their american heritage in some tenant house in NYC and now she’s returned to the housing of her forefathers. How shameful.
immigrant ancestors, not immigrant family..
best comment after the video
” if any?guy jumps on top of her in her bed, he will be waxing her ceiling with his ass.”
HD – there have been stories about drunk horseback riders getting DUIs. Chances are that they got thrown out in court, but it doesn’t stop a cop from issuing one.
“All in after tax and op cost is more like 1,890 a month with loss on sale to be added into that number when known.”
Did you back out the standard deduction from the tax bene, after reducing it for assumed amount of Ill income tax? Or did you just assume they’re very generous and the income tax + charitable write-offs = standard deduction.
correios era lixo. desculpe.
Funny story about riding while intoxicated: I knew a guy who was a cook at a bar would every few months come into work looking all banged up. When asking him what happened he clarified it wasn’t a fight–he had a habit of hitting stationary objects on his bike (like parked cars, etc) when wasted biking. Pretty hilarious.
A 90sf micro-studio is probably good for only two things:
1) in-towner for the mistress
or
2) preparing for prison.
“Did you back out the standard deduction from the tax bene, after reducing it for assumed amount of Ill income tax? Or did you just assume they’re very generous and the income tax + charitable write-offs = standard deduction.”
Didn’t feel like playing guess the income so went straight ((interest + tax) -std deduct) * 35% .. gives them back about 380 a mo. took away about 50 on op cost of dwn pmt… should we add in op cost of each monthly principal pmt also 🙂
and don’t tell me using the 35% already was me assuming their income.. I know! I’m busy depreciating my own shit right now to get these forms in the mail.
Poor Ze, doing taxes sucks big time. We did our taxes yesterday. I love H&R Block. I have no clue what is what and I have all these payments from other states which I have no idea how to factor in. Weird thing was we were better off, albeit slightly, by being married filling separately. I never thought that was possible!
poor me nothing!
Me got a pecan pie in the oven smellin up the house! Smillin away!!!
mmmm corn syrup
SABRINA,
didn’t you do a posting on this unit?
http://www.redfin.com/IL/Chicago/536-W-Belmont-Ave-60657/unit-3E/home/12613527
It looks like the investor that bought it probably made some money!!! It went under contract in 3 days!!
http://cribchatter.com/?p=9750
and
http://cribchatter.com/?p=9327
THANKS PETER G. – HD – where are you?
I’M RIGHT HERE CLIO.
I didn’t comment on either one of those threads.
What the hell are you talking about?
“It looks like the investor that bought it probably made some money!!! It went under contract in 3 days!!”
You mean 7 months, right? That unit you link to has been listed for 7 months.
We don’t know if they’ve made any money. It hasn’t closed yet. I get annoyed when people write “see- it’s under contract!” when that is really meaningless until the property closes (especially in this market- with all the appraisal and mortgage issues.) This owner said he spent several times more than $5k upgrading the unit (so $15k to 20k?) So will he make money? We’ll have to wait to see.
Sabrina,
To be truthful – there is probably no way the guy made any money. It is sad, but true…..
For some reason I love seeing clio realize his green shoots were brown.
In response to chukdotcom – this one is 55 square feet. http://www.youtube.com/watch?v=i1HIJlSmouU&feature=related
Some Chinese lady lives in a 21sqft apartment:
http://realestate.aol.com/blog//2010/05/25/the-worlds-smallest-apartment-gets-a-tenant/
lol if you go to the 66″ wide english place selling for a million bucks… across the street (on streetview) is a “ferrari insurance” store… LOL WHAT!
Cool link Bob. I have stayed in something similar in Heathrow called Yotel. It is a really small hotel room but at least you have your own shower and bathroom. In fact, it was pretty comfortable.
This one in London is 62sqft:
http://www.biggerpockets.com/renewsblog/2006/05/07/you-think-your-apartment-is-small/
I dunno how these people do it. Then again I’ve lived in a 350sqft apartment for a number of years. But it doesn’t take nearly the lifestyle compromises that anything smaller does.
The 66” London flat is Number 12, Grimmauld Place.
If the fake boom and ensuing real bust ought to teach people in this country anything, it’s that you should not buy your house with the idea that you are going to “make money” on it. A healthy economy is based on real productivity, not asset inflation.
The seller of the condo featured here had to be able to see that prices were in free fall in 2007, so I can’t feel badly for his “loss”.
Gross.
At the risk of being confused with anon, Laura I think you meant to say “I can’t feel bad for his loss”. Feel here is a linking verb, describing a state or condition.