Get a 4-Bedroom Buena Park SFH Home for $100K Under the 2006 Price: 4315 N. Hazel
This 4-bedroom single family home at 4315 N. Hazel in the Buena Park neighborhood of Uptown has been on the market since February 2011.
In that time, it has been reduced $215,000.
It is now listed $100,000 under the 2006 purchase price of $850,000.
The house is just north of the Hutchinson Historic District but is also surrounded by vintage homes.
Built in 1893 on a 25×119 lot, it has three floors of living space plus, according to the listing, a legal 2-bedroom lower level apartment.
3 out of 4 bedrooms are on the second floor, along with 2 baths, with the fourth on the third floor.
There is also a large recreation room with vaulted ceilings on the fourth floor.
The kitchen has stainless steel appliances, stone counters and maple cabinets.
The house has central air.
The listing says there is space for 3 car parking and that the seller is offering a $10,000 credit for a garage.
Is this a deal for the space and that you’ll have a rental apartment to help defray the costs?
Courtney Welsch at Baird & Warner has the listing. See the pictures here.
4315 N. Hazel: 4 bedrooms, 3.5 baths, 3 car parking, lower level apartment
- Sold in November 1991 for $243,500
- Sold in July 1998 for $260,000
- Sold in January 2006 for $850,000
- Originally listed in February 2011 for $965,000
- Reduced several times
- Currently listed for $750,000
- Taxes of $12,319
- Central Air
- Bedroom #1: 20×16 (second floor)
- Bedroom #2: 22×13 (second floor)
- Bedroom #3: 16×11 (second floor)
- Bedroom #4: 11×11 (third floor)
- Recreation room: 25×14 (third floor)
I like it
Living in an $850,000 home in uptown on a small lot isn’t all it’s cracked up to be?
Does Sabrina seek out *every* house with a direct view of a parking ramp?
ps: *love* the house.
Not a fan of the immediate area, but enh.
Hate, hate, hate the specific location.
The sad thing is that these owners had a $200,000 down payment. And they are losing it all. God only know why, despite having children, they chose to purchase an $850,000 home in uptown. Did they not anticipate schooling issues, did they not think about safety issues or the ability of their children to play freely in the neighbor? Did they not anticipate job loss or the ability to sell in the future? They live in UPTOWN. The Jewel to me is the uptown Jewel.
Think of all the rats and smells and bums wandering through the alley behind jewel.
oh hell to the no
this location is probably the worst on this street bar none!
“Think of all the rats and smells and bums wandering through the alley behind jewel.”
most of their deliveries (and garbage pickup) goes on in an interior “alley”, off of Montrose. The Hazel side of the block is the front door of the apartment building.
1998 price speaks volumes. And thank you for your generous donation to the Great Housing Crash liquidity fund where your 200 large will be utilized as a price discovery fee for 2011 onward. Next contestant step right up!
I want to shake the 2006 seller’s hand for playing this housing crash like a fiddle. Given their impeccable timing wouldn’t be surprised if their surname is paulsen or cuban.
“1998 price speaks volumes.”
That, of course, was for a house no one here would choose to live in.
But give em credit for ~300k to 400k of reno, there’s still an issue.
The clever and lucky get the windfalls and the sheep get sheared. This is the new American Horatio Alger story.
Oh what’s that you say the 2006 buyers went from riches to rags? Yeah but not the guy they bought it from!!
Sheep don’t make out well at the end of my fairy tales!
Both owners appear to be corporate types.
“But give em credit for ~300k to 400k of reno, there’s still an issue.”
Looks like I came pretty close, as the ’06 seller had two mortgages totaling $668k when they sold.
This would be a nice house if it weren’t across the street from that monolithic 1970s apartment building and its parking ramp. The developers of that project obviously didn’t give a damn about what they were doing to this street (ruining it).
Very cool place, but once one goes that far, and especially given the lousy immediate surroundings and school options, why not just keep going a little ways all the way to Evanston? What can $750k buy within walking distance to the Metra in Evanston?
Anonny,
I agree with you in spirit, but I’m not sure you can get a house like this for $750K in Evanston. Maybe it’s possible. I’ll check. But in Evanston, you still have the HS issue.
One seller drives to the lake county line every morning so they may be moving further north than evanston.
Anonny/Dan-Deuce:
http://www.redfin.com/IL/Evanston/1426-Hinman-Ave-60201/home/13580089
Is certainly close enough (tho u/c). Picking between *only* that house and this house, I know which I would choose, even were I unable to get the E’ton house taxes reduced at all.
“One seller drives to the lake county line every morning so they may be moving further north than evanston.”
Even better (for them). What’s $750k buying east of (or close to) Green Bay Rd. these days? Dan #2, what’s $750k buying in HP?
While it might not fetch a place quite like this one, it does currently allow buyers to break into the lakefront northern burbs. $750k buys a decent 4 bed (well, a 3 bed + family room or den) condo/TH/RH in nice sections of LV, LP and GC. If child-rearing circumstances are dictating more space and/or public high school options than what $750k can currently buy in those hoods, why not look for something up in the nice burbs?
yikes, that ev house originally listed for 1.5…dare to dream. very ornate inside though.
“Picking between *only* that house and this house, I know which I would choose, even were I unable to get the E’ton house taxes reduced at all.”
Forsooth.
Dan#2, my 2 decade old impression of ev hs is that it was overall decent, and pretty good for smart kids. they always did really well in academic competitions bc they had a good population of “gifteds” and a good program for them. but if you had a subpar kid then you didnt want him going there.
looking at this hs rank list, which i have no idea if it’s valid, ev hs is 126 in state, lphs is 158 and is the highest ranked non magnet cps I believe. unless lane is non magnet.
sorry. the rank list is here http://www.schooldigger.com/go/IL/schoolrank.aspx?level=3
“But in Evanston, you still have the HS issue.”
What’s wrong with the HS? From what I understand, the children of the well-to-do parents do quite well there.
“God only know why, despite having children, they chose to purchase an $850,000 home in uptown.”
maybe because they wanted to live their lives, enjoy themselves and weren’t little pussywimps like you, HD
If not being a pussywimp means seeing 200k of earnest money go up in smoke over 5 years then namecall away!
MOMENTARY PLEASURES HAVE LONG TERM CONSEQUENCES, CLIO
“clio on September 6th, 2011 at 12:25 pm
“God only know why, despite having children, they chose to purchase an $850,000 home in uptown.”
maybe because they wanted to live their lives, enjoy themselves and weren’t little pussywimps like you, HD”
“
“looking at this hs rank list, which i have no idea if it’s valid, ev hs is 126 in state, lphs is 158 and is the highest ranked non magnet cps I believe. unless lane is non magnet.”
1. Lane is magnet.
2. ETHS was down 40 from ’09 to ’10, (and a quick check of prior years shows a general range of 80s to 120s), so thinking in a ranking band makes a bit more sense than a single year snapshot.
“clio on September 6th, 2011 at 12:25 pm
“God only know why, despite having children, they chose to purchase an $850,000 home in uptown.”
maybe because they wanted to live their lives, enjoy themselves and weren’t little pussywimps like you, HD”
This from the doosh who gets goosebumps driving on Western Ave. lol
why is everyone so mean to me when all I do is make accurate observations and bring them to light?
You know what I dream about when I think of “living my life”? Walking out my front door of my house every day to see the driveway to a parking ramp. I hope one day to find such a dream world; I missed out on my opportunity at 1167 W Eddy, and this one doesn’t quite do it for me, at least since they redid the window art at Jake’s.
“Lane is magnet”
So w/o having done tremendous research, b/c it’s not really my problem, I had Lane in mind as a decent, but not really desired school (not just wrt to the higher ranked CPS selectives but also v good suburban schools). Besides being surprised a bit at its massive number of students (and yes I do drive by it quite a bit), am surprised by its respectable ranking on the test score metric. Yes, I know it’s not the only measure of a school, etc. etc. But I’m wondering if there is anything misleading about the score comparison?
“You know what I dream about when I think of “living my life”? Walking out my front door of my house every day to see the driveway to a parking ramp.”
OK – people, you guys obvioulsy don’t understand subtle sarcasm and true assholiness. This is a prime example. Anon – the subtlety of your posts is lost on 99.99999% of readers here. If you want to offend, you have to be more direct. These morons don’t understand!
When I think of “living my life”? How about “when I’m cleaning windows!” (1936)
http://www.youtube.com/watch?v=sfmAeijj5cM
There’s something comforting about depression era music when thinking of the enormous financial losses these unfortunate owners are going to suffer at the hands of the housing bubble and great recession.
Ten Cents a Dance is another great one. The owners can charge 10 cents a dance to recoup their down payment.
http://www.youtube.com/watch?v=PpU-mcgBJxE
DZ, did you check its distinguished alumni? blago, anna davlantes and tarzan- all lane grads.
I have some friends who live around there, and I’m not really sure that I would want to leave any of my cars parked on the street when I visit them at night.
Anyway, I wonder how much in rent the apartment brings in. $1500? That kind of income is nice when it comes to monthly costs.
they could probably get $5 a “dance” in uptown if you know what I mean…
“But I’m wondering if there is anything misleading about the score comparison?”
Nothing that I’ve ever heard about. I suspect they put a lot of emphaisis on those tests, tho.
And note that, while PSAE Meets/Exceeds numbers at Lane are top ten, the mean/median scaled scores are not, nor are the ACT averages–roughly comparable to the “unacceptable” ETHS, and well (2+ points on the ACT; and ~10-15 points on mean (reading + math) on the PSAE (NSCP was 25 points higher, NT 17 higher than Lane, for comparison)) behind the schools around it on that list. So, the reasonable conclusion is that Lane has lower “exceeds”, but comparable %age of “fails to meet”, compared to large, good suburban schools.
For school year 2010
ETHS
PSAE 19% exceeds, 44% meets, 29% below, 9% warning
Lane Tech
PSAE 11% exceeds, 76% meets, 14% below, 0% warning
“did you check its distinguished alumni? blago, anna davlantes and tarzan- all lane grads.”
I hadn’t. C’mon, does not Adrian Zmed get a mention?
“while PSAE Meets/Exceeds numbers at Lane are top ten, the mean/median scaled scores are not, nor are the ACT averages….So, the reasonable conclusion is that Lane has lower “exceeds”, but comparable %age of “fails to meet”, compared to large, good suburban schools”
Makes a lot of sense. I hadn’t really processed what the PSAE number being reported was. I have noticed in the past that the “exceeds” number often gives a different picture than “meets/exceeds” for elementary.
anna devlamtes is distinguished because she’s cute and on teevee? better scour their alumni base for adult film stars too then chap. distinguished alum lmao what a joke
I would also laugh if they buy another place and housing continus to plummet.
Vlajos:
I was refering to places like New Trier, Hinsdale Central, Deerfield, etc., which appear to consistently be in the 30-45 exceed, the balance to 85-90% meet and 10-15% in below or warning. Very comparable meet + exceed numbers, but a much lower % of exceed.
“99.99999% of readers”
Since I can think of 10 who (for sure) do get it, do you really think that 100,000,000 people read this site? Wow!
So what does everyone think of this idea? (posting relevant link in response to HD point of these owners being underwater):
http://www.zerohedge.com/contributed/feds-plan-rumors-news
I) Homeowners get a new loan at 4% and payoff 100% of the old mortgage.
II) The servicing banks get the proceeds and pay off the old loan.
III) The money is paid to F/F. This money is used to redeem existing mortgage pools of Agency MBS.
IV) Fannie/Freddie have the same asset mix at the end of the day. They still need to finance the new 4% mortgages they are writing.
V) Fannie and Freddie are taking on substantial new risk as they now have a book of 4% mortgages and are much more at risk to rising interest rates.
VI) It takes 90 days for a new mortgage to become a new Agency MBS. During this period F/F warehouse these loans. They finance the warehouse with short-term debt. They take action to reduce their risk by entering into new swap transactions or by buying derivatives to neutralize the market risk.
VII) As the process goes on huge chunks of EXISTING higher coupon MBS are prepaid. Investors in those MBS securities will be forced to re-invest the proceeds.
Investors are forced to reinvest proceeds? lol yea
“Investors are forced to reinvest proceeds?”
Ain’t going to stuff em in HD’s mattress.
zerohedge has turned into a bunch of nonsense
Anonny,
Lots and lots of options at under $750K east of Green Bay in HP. Maybe not houses with as much charm as the one featured here, and some may be smaller, but you can get very viable places well under $500K east of Green Bay.
However, someone who’s seriously considering buying a $750,000 house across from a parking ramp in Uptown probably wouldn’t be interested in Highland Park (and wouldn’t care if it was east of Green Bay or not).
Here’s one east of Sheridan in Highland Park for under $700K. But you’ll be disappointed to know there’s no 20-story 1970’s rental building and parking ramp in the immediate vicinity.
http://www.realtor.com/realestateandhomes-detail/199-Ivy-Ln_Highland-Park_IL_60035_M84138-79739
Yeah but then you don’t have the excitement of living near a sanitarium and junkies, Dan.
You are wrong. Well heeled city buyers and suburban buyers are the same people at different stages in life.
that ivy house is nice. looks like it’s for rent as well for 3600/mo
I like the Ivy house as well. It’s about a half a mile from me, on the far southeast side of Highland Park, near Ravinia. The listing says 11 blocks from the lake, but as the bird flies, it’s only 3 or 4 blocks. They must mean 11 blocks to the beach, which you’d have to walk north and then east to get to from this location.
The school here is excellent, and it’s a pretty quiet area. It’s walking distance to the Braeside Metra and Braeside school, and there are a couple little shops across from the station, including a small grocery store that’s really a glorified Seven Eleven. And you can walk to Ravinia, of course, which is a great amenity.
This is a gorgeous house inside and outside, as long as you are facing it.
I think this house is a great example of the difference in the market between 2006 and now. In 2006, the market was hot, so the buyers paid $850k for a beautiful house even though it was across from a parking ramp. Who knows when one like it would be available with a better location/view? Today, no one wants it because the market sucks, and you can find the beautiful house without the parking ramp or if you can’t now, people bet they will be able to find it in the near future at a reasonable price.
It sucks to have made compromises in 2006, but most people figured we’d always have to make some compromises.
benjamon9 you say the market “sucks” now but what is your key metric? volumes are down to late 90s levels and prices are still well above that.
guess what volumes are going lower. the grandiose Keynesian experiment to keep asset values inflated long enough to build up a false confidence to kickstart the economy failed because its not the 1930s anymore and information is easy to get.
the entire business community knew it was temporary and they weren’t fooled.
buckle up and party like its 1937
Benjamon,
However frothy the market might get, it’s never a good move to spend a lot of money on a house with a poor location.
A relative of mine who’s been very successful in real estate once said that a first-time homebuyer without a lot of cash should buy the worst home on the best street. You can work on the home, but there’s nothing you can do to fix a street.
Dan truer words have never been spoken. Recently a 650k house in basically a perfect location (for crook cty) caught my eye. Nice but dated house & without central AC (so not SWPL standards–i think spacepaks tho). its lingering on the MLS but in 5 years if I could get it or similar for 550 yeah it makes sense. the location is Fin money and too many dofuses forgot the first three rules in RE like this chump. best public school district in Midwest too.
Bob: 1937? Hhahahaha you are so abysmally wrong. Which euro bank will become the Kreditanstalt of 1931? UBS? Deutschebank? RBS? We’ve just entered 1930. Monetary policy of the modern era has discovered how to prolong the party:..
HD it took Greece gov until just NOW to grow the stones to hog tie the public sector unions. Guess which local gov is an analogue to them?
Yeah sorry boss dark clouds ahead for a few years. The patronage class ain’t gonna give up without a fight & it hasn’t started yet!
Starting garbagemen making more than starting city attorneys?! lmfao whachoo talkin bout Willis??
Dan #2, I agree, location is key, but few people had that feeling in 2006. If settled for less on location, the house had to really make up for it elsewhere, and this place does not. You can find lots of similar houses to this without a parking ramp across the street. Too bad this buyer didn’t realize that then.
abysmally then German words? stop acting like a high society f**. and when I’m right you don’t have to kiss my ring nor donate to some charity. but you have to kiss the trunk of the closest tree in your park. just to teach humility. you need some acting like that lately. some say I need humility too but fate provides by me losing a lot sometimes but not lately 😀
If you read Krasting’s article (the zerohedge link provided) you will see that the fed is the biggest “investor” and he speculates that all the proceeds will be invested in US Treasuries, which will help with Bernanke’s plan to keep rates low.
“Investors are forced to reinvest proceeds? lol yea”
Inciteful analysis as usual, Sonies. Why bother reading something when you can make yourself look so smart without having to think?
“zerohedge has turned into a bunch of nonsense”
Can’t stop thinking about the Evanston place posted by anon yesterday.
Wow. Did anyone else see this Junior Terrace house (just down the street from the house in this post)?
Apparently sold in 2007 for $1.134 million and now listed as a short sale at $399,000.
It went under contract instantly.
http://www.redfin.com/IL/Chicago/823-W-Junior-Ter-60613/home/13394654
Hah now what do these overleveraged dipshits do now that comps are going to kill them?
Who in their right mind is going to keep paying their mortgage, able to or not, when BofA is finally in a panic and dumping their foreclosures at ridiculous fire sale prices setting crazy low comps?
The stampede to the exits started to hit the greenzone a couple of months ago in my estimation. All it took was one “TBTF” bank to realize they can’t pretend the sky is purple forever.