Rehabbed 4-Bedroom SFH Went From $98K to $409K in Irving Park: 4112 N. St. Louis
This 4-bedroom Victorian at 4112 N. St. Louis in the Irving Park neighborhood has been on the market since August 2011.
It was previously a 3-bedroom house that was bank owned and sold in January 2011 for just $98,000.
You can see a few pictures from the prior bank owned listing here.
Originally built in 1896, it has been rehabbed and is now a 4-bedroom with 4 bathrooms. The master bedroom now has a master bathroom complete with a jacuzzi tub. There is a bathroom on every floor, including in the lower level, which is also where the recreation room is located.
The house has a custom built eat-in kitchen with granite counter tops and stainless steel appliances.
Built on a standard Chicago lot of 25×125, it has a two car garage and 2 decks, with one off the kitchen and one off the second story master bedroom. The house also has central air.
The house has been reduced about $40,000 since it was first listed in August.
I could only find one house in the neighborhood that sold for $400,000 or above in the last 6 months (and it sold for $400,000.)
Will this house be able to command the $400,000 price tag?
Jonathan Gil at Resurrecting Real Estate has the listing. See the pictures here.
4112 N. St. Louis: 4 bedrooms, 4 baths, 3000 square feet, 2 car garage
- Sold in December 2006 for $299,000
- Sold in December 2007 for $410,000
- Lis pendens filed in August 2009
- Bank owned in August 2010
- Sold in January 2011 for $98,000
- Originally listed in August 2011 for $449,900
- Reduced
- Currently listed for $409,000
- Taxes of $5408
- Central Air
- Bedroom #1: 12×14 (second floor)
- Bedroom #2: 13×12 (second floor)
- Bedroom #3: 9×13 (main floor)
- Bedroom #4: 11×10 (lower level)
- Family room: 9×21 (lower level)
I hate vinyl on victorians. Nevertheless, 370k bc its new.
West of Kimball? Ugh.
I think $340k
Sabrina, according to the floorplan there is no bedroom on main floor. Two in basement, one of which is being called an office.
The 2007 price point was crazy, why did anyone think it would sell for above that in August of this year? I agree that its $375K for the newness and the price point of the nabe.
Is “west of Kimball” the new “west of Western”?
There is no bedroom on the first floor on the floorplan, but the dining room in the pictures is staged as a bedroom, and having a closet and only a small door, that is what I see it being used as.
I really don’t like the layout of this place at all. I don’t like that the dining room is really a bedroom, I don’t like the one tiny looking window in the master bedroom and why not combine the small bedroom/office in the basement into one usable size room?
Lastly, is it just me, or do the photos seem really bad for someone that put in the effort to do a whole webpage? Without a floorplan I would be clueless as to the layout and most of the pictures didn’t seem to really give me a sense of the rooms.
RE: Is “west of Kimball” the new “west of Western”?
No. I think Western is still the line many people draw.
I just find it depressing around these parts. I can see the attraction to living in Portage Park, Forest Glen, etc. which are further west. I can’t think of a single distination from roughly California west to 6 Corners.
“I just find it depressing around these parts. I can see the attraction to living in Portage Park, Forest Glen, etc. which are further west. I can’t think of a single distination from roughly California west to 6 Corners.”
The area south of Irving Park and Elston from Central Park west (Monticello, Ridgeway, Hamiln) is very nice. Elston cuts the area off from the traffic on Irving Park. The streets are tree-lined and quiet, plenty of on-street parking, and very nice homes. 3 blocks from Blue Line.
North of Irving Park — not so much.
re: I can’t think of a single distination from roughly California west to 6 Corners.
What about Pitchfork or the Leader Bar?
I don’t think there is anyway this place is 3000 SQ Ft. According to the Assessor the bldg SQ footage is 1845…The basement added in would only be another 900 max . I think its closer to 2700 SQ Ft than 3000. And that is stacked not finished space.
Which is a 10% difference. Its a tight house layout wise. Doesn’t work for me.
The finishes look typical for a European flip and they probably put in $125K – I think given the location its worth around $300-315K. I probably would have just dropped $50K into it and sold it quick for $250K.
http://www.ironstonepropertiesllc.com is the developer
Icarus –
Yeah, Pitchfork is an okay place. It’s a great new place for the neighborhood. If it was in any other area it would be just another bar/pub.
The gentrification will eventually move west to soak up most of irving park and albany park but it’s going to take 20 or 30 years or more for it to progress that far. With the slow RE market the gentrification is literally one house at a time, and the market still has to absorb the glut of overpriced sfh/condos in the GZ area as the residents prep to move to the suburbs for little johnny’s education. Old irving gentrified early and separate from the GZ because of the old and large victorians mostly on wide and long city lots, for the cheap, and a relative lack of multi-units which kept out a lot of the riff-raff for many years. My theory is that the entire northside will gentrify and schools will change one by one as the poorer residents are pushed out to the suburbs and exurbs; and the northern suburbs will eventually merge into milwaukee, with little or no vacant land along 94. hell south of door county you can buy land with lake views for pretty damn cheap. but i digress.
http://www.zillow.com/homedetails/7140-Sauk-Trail-Beach-Rd-Belgium-WI-53004/2123918279_zpid/
180′ of lake michigan frontage for roughly $400,000. Can’t be beat! Less than 3 hours drive from IL. Snap up these deals before they go away!
I don’t know who the target buyer for this place is, but the staging sucks: there is the ugly grandma furniture and then there is the weird baby room with bizarre cribs/beds.
As someone who lives in the neighborhood, the advantage here is the proximity to the Kennedy, Metra, and the Blue Line, while being close enough to nightlife neighborhoods and still relatively safe. There are a lot of cool dining options in the area, but they are spread thoughout the neighborhood
That said, the area around Irving and Kimball has had a lot of problems the past 6 mos, and I wouldn’t want to live north of Irving in this part of Irving Park.
It’s not a bad hood just too rich of a flip with no additional sq footage
I don’t think the price is justified
HD,
Isn’t Belgium, Wisconsin kind of a long drive from Door County? I guess it’s a nice property if you want cheap Lake Michigan frontage, but I’m not sure if there’s anything to do around here. That’s why Door County costs so much more – because it’s not only beautiful, but there are also a lot of good restaurants and quaint towns.
Belgium, WI appears near Port Washington which is a quaint, mini-touristy place, isn’t it?
Aww how quaint HD is still bullish long-term on the region.
Got news for you, boss: I ain’t. Whats so special about this area to encourage increased population growth and for Chicagoland to merge with Milwaukee metro? Population growth isn’t exactly happening here, or there.
And just because Kane County has 100%+ growth over 10 years…it went from like 100k to 200k people..big freakin’ deal.
I live near this neighborhood and they have been advertising open houses every weekend on this place for months. I went in and checked it out a couple weeks ago. The rooms are relatively small and retarded staging makes them seem really cramped. But I count about 8 places sold in the last yr within a half mile of this one between 400-450K. Almost all look to be flips. I predict 385 for this one.
By the way-
Did anyone else see Buffett on CNBC this morning? He said the housing market was in a “depression.” This is in stark contrast to about 6 months ago when he was on CNBC saying that housing would start recovering by the end of the year. They asked him “didn’t you say that it would improve by the end of the year the last time you were here?” and he said something like, “Yeah. I was wrong.” They didn’t delve any further than that (i.e. WHY he was wrong.)
I wonder what the Berkshire companies (like Clayton) are signaling if he’s now that bearish on housing?
price drop $10K..is this getting closer?
10k is barely a start for this one. Look at the comps. It’s gotta go lower if the developer wants to move it before 2013.
Another 10k drop to 398.
@W Equals, It appears to be actually $389k. The staging isn’t the best, definitely needs to change. I would start with removing the large piece in the living room. I have also seen a lot of rehabbed homes getting priced in the mid $400’s and the new construction homes starting at $499k. I saw one at 4117 N St Louis for $$549k (seems too high). The person at the open house told me we could knock down the wall and set up a large dining room. I wouldn’t though, would prefer an additional bedroom but good to know.