Restored North Kenwood Brownstone: 4421 S. Berkeley
We return to the south side to the North Kenwood neighborhood and this restored brownstone at 4421 S. Berkeley.
The listing calls it “4 levels of luxury living.”
It looks like a lot of the original features of the property were preserved.
Yolanda Edwards at Bronzeville Realty has the listing. See more pictures here.
4421 S. Berkeley: 4 bedrooms, 3.5 baths, 3500 square feet, 1 car parking
- Sold in October 2006 for $251,000
- Originally listed in June 2008 for $609,000
- Reduced
- Currently listed for $599,000
- Taxes are $3598
- Central Air
- Fireplace
Nice reno but I hope that price comes with armed security. Contractors have been getting robbed at gun point in that area and they think someone is going to fork over 600k…HA. Thanks for the lunch time laugh Sabrina
Clearly this place is worth every penny. And by that I mean 600 thousand pennies.
It will probably go for the mid 5’s. Just because the North Face/New Balance set of Lincoln Park doesn’t like the southside, doesn’t mean a young black professional couple won’t pick up the place.
So, they got the reno done in about 12 months. For argument’s sake, say it’s reasonable to expect $100k profit for your efforts in managing/dealing with the reno. Does anyone think the reno cost $250k? $150k?
Seems like the sellers are being greedy at the wrong time.
Edumakated, that might be right but what comps are there around that justify even mid 5s? I don’t have access but I’m guessing this is one of the nices houses in a few block radius, which is a no-no….
Edumakated- There was actually an article in the Tribune a few weeks ago about 2 black lawyers moving from LP to that area so it is a difference in preference. I just think that Hyde Park would be a better choice for someone really looking for a nice neighborhood on the south side(Starbucks, Borders, Bonne Sante, Treasure Island, etc). If those government parasites are willing to rob contractors at gun point for hammers and paint, what do you think will happen when they see a young couple moving in with nice furniture and flat screens? This is not the time to list at 600k for a shady neighborhood.
I actually drove past this place several weeks ago. What you don’t realize until you see it in person is how narrow this building actually is. It’s only 16ft-18ft wide which I think is very restricting.
Block is so so… but not terrifying as some would suggest.
Personally, I wouldn’t live there and I damn sure wouldn’t pay that much to either. However, what many of us consider a “shady” neighborhood isn’t really considered shady to others. It is all relative. That area of town has a lot of black professionals who are more than willing to pay for homes that size. Will it sell for $600k? Probably not, but it wouldn’t surprise me if it sold in the low to mid 5’s (it may not) The home’s target market isn’t the typical reader of this website.
Wow, some very ignorant commments re this post. Anyway, I have personally been in this listing with clients a few times last summer. It was one of my favorites out of the sfs we were considering. Regarding it being narrow, I guess but this is the style of sfs out there so if you are in the mkt, you already know. They definitely preserved a lot of the integrity in this home, sans a few light fixtures I was not too impressed with. The bedrooms are all good sz, as are the bathrooms. The master bathroom is awesome, and the outdoor space on the 4th level is nice as well. It does not have a garage, but it does have a secure parking space with a carport. I do not know Yolanda, her husband, Mike, I believe showed it to me. He lives in the neighborhood, and has for quite some time. He is definitely a class act. Regarding comps, last summer there were several that would justify a deal in the high fives, couldnt tell you about now. Getting bk to the neighborhood comments, this is east of King drive, a nice south coordinate. This particular block is great, hardworking people keeping up the appearance of their historical homes.
One more thing, the homes target mkt isnt the typical reader of this website? What is that supposed to mean? God forbid Chicago gets the olymplics, because then everyone in this thread negating this neighborhood is going to be scrambling to pick up property!!!
Not a great location, actually. The surrounding blocks aren’t completely terrible, but there isn’t much in the way of useful retail or transportation access there. The 47th street Metra stop is nearby, but stops there are not as frequent as other stops. You would still end up driving a lot of places from here.
Would have been overpriced during even before the bust. Now the price is just comedy.
Catching a falling knife is an equal opportunity endeavor.
The cohort of young black professionals who qualify for a $500K mortgage under today’s standards has to be pretty small. Hope I’m not branded a racist for making that observation.
It is relatively small, but there are enough that buy these places in that neighborhood and others which is all that matters.
Like I said, they aren’t moving to the area because it has the typical Lincoln Park/Lakeview amenities. They just don’t particularly care to pay $400k+ for some bland 1100 sqft 2/2 just because it is Lincoln Park. They rather have 3000 sqft of space than amenities and don’t really consider the area all that bad, but I could see how a typical Chad/Trixie might think otherwise.
It is a cultural thing…
How’s the school district at this property?
Sonies-the majority of the public schools around Hyde Park are typical underperforming schools with people that became Teachers just to have 3 months off every year. The lab school admits a few of those kids at no cost every year and it takes a while to get them up to grade level. Until the schools improve and yuppie companies like Starbucks, New Balance and Xtreme Yoga start showing up, I just don’t see why anyone would move to that area. Especially now that $600k in good neighborhoods goes farther than it did during the boom.
There are plenty of excellent public schools in HPK, despite Arne Duncan’s concentration on flashy pr garnering schools. This isn’t a neighborhood for white lincoln park types.
This neighborhood has two good elementary schools: North Kenwood/Oakland and Donoghue which are run by the University of Chicago.
Uhh lauren not sure what you’re referring to but Starbucks is all over the South Side, down into the 70s at least. Theres probably at least 5 in Hyde Park alone.
Bob-That’s the point I am trying to get across. I went to U of Chicago and lived in Hyde Park for 6 years and trust me I’ve learned where Hyde Park begins/ends. You can tell when you’re in Hyde Park because it is the Lincoln Park of the South: Starbucks, Yoga Studios, Borders, produce markets, ethnic diversity,good public schools etc. The area north of Hyde Park – North Kenwood is nothing like that. For years Realtors and home sellers have been trying to charge Hyde Park prices for places that are basically in the ghetto (as if home buyers wouldn’t notice). This brownstone we are chatting about is a prime example of that. The owners purchased it at a North Kenwood price and are trying to sell it for a Hyde Park price. There are a ton of vacant buildings in that area bc flippers thought they were going to get a bunch of unsuspecting fools to pay $500+k for an area that’s just not “there” yet.
“Uhh lauren not sure what you’re referring to but Starbucks is all over the South Side, down into the 70s at least. Theres probably at least 5 in Hyde Park alone.”
Amazingly enough, about all the South Side Starbucks were the first ones to close shop when they reduced their number of stores and employees.
Sonies-I was about to say the same thing. Most South Side neighborhoods fail Starbucks’ income requirement with flying colors. The only reason their development team even built those stores is because they were joint ventures with Magic Johnson and his neighborhood redevelopment initiative.
Starbucks is deinitely not “all over” the South Side. There are two in Hyde Park (three if you are really generous and count the Barnes and Noble coffee shop in the U of C bookstore). There is one on Stony at 71st and one up on State at like 35th, but neither is even walking distance from to Hyde Park. That’s not many locations for such a large, densely populated area and it reflects the problems in Hyde Park and environs.
I’m with Lauren – that address is NOT Hyde Park. It is very different from Hyde Park. Realtors have been trying to say parts of Kenwood and Woodlawn are Hyde Park, but that doesn’t make it so. Not that Hyde Park itself is so great, anyway.
I would love to see this blog look a little more at properties in this area. I know it is not really an area people here focus on, but there’s interesting stuff happening down there.
“I would love to see this blog look a little more at properties in this area. I know it is not really an area people here focus on, but there’s interesting stuff happening down there.”
Dorch: This is NOT just a “north side near the lake front” site, so I’m always open to tips about what is available around the city. Please send them my way.
Hegewisch, Sabrina, Hegewisch 😉
Hegewisch is unique. Like a small indiana town within city limits. havent been since 6yrs ago, wonder if they got a starbucks yet.
Dorch–you are right. In HP, only two Starbucks..ses. And NO yoga studios, Lauren. As an avid consumer of yoga, the best we have are a couple of individual teachers who at best teach two or three classes a week (and usually go out of business within a couple of months).
Location Location Location just turned into BAD Location BAD Location BAD Location. Not being a racist at all with my comments, but come on, this area is in the heart of the Southside ghetto. I have been talking to many agents in all areas of the city and whenever I mention South Chicago, they just shake their heads and proceed to steer me to downtown and North of downtown. As a previous ‘flipper’ for a number of years, to me there is no justification for going from $250k to $600k+ whatsoever, especially considering the present depressed market conditions. I admit, the house shows very well and the restoration is done well. Had it been in LP it would be priced near a million. Re: the Olympics coming to Chicago, I just cannot see plopping down this amount of money for something that lasts a few weeks and will leave us with an overabundance of overpriced homes/condos. Maybe in 10-20 years this area will be worthy of these prices, but the greed shown in the pricing for this home now is not acceptable. Good Luck seller!!
There is a $427,000 mortgage dated 9/18/2007 given by ….Midwest B&T. It appears that it was a cash deal in Oct 2006 with the mortgage taken out almost a year later. Quite frankly this is a failed flip and I’m surprised it’s not yet a foreclosure. There’s a possibility Midwest Bank may be foregoing a foreclosure.
Sabrina- are you able to pull up anything decent on S Lake Park Ave and Oakenwald? Back in 2005 flippers said those streets were going to become the Astor and State Parkway of the South. Those overpriced places should be marinating on the Market also. I think Oakenwald actually had potential because it was the first street off LSD.
I live on Lake Park and may be about to sell my home (fingers crossed). I’m not surprised by all the comments of IMO, ignorant white people who know nothing about the south side. Kenwood, Oakland is NOT that bad. It’s no Lincoln Park, sure, but it’s definitely not a scary area like Englewood or South Shore. Lumping all the south side together in that manner is offensive and patently racist. (As westloopelo said: the “heart of the southside ghetto” – WTF??) There are several black professionals/middle class people in the Kenwood/Oakland area, and (gasp!) white people who are obviously more open minded than you guys. If I sell my house, I will miss this area a lot because it is very quiet, literally one block away from LSD, and about 2 mins. walking distance to the lakefront bike trails. As for falling home prices, it seems to me like the south side is STILL a good bargain because prices on the north side are still WAY too ridiculously high, for very little in the way of space.
Oh and about this house – I agree it is overpriced but so are most of the other listings. They’re obviously leaving room for negotiation. It will probably sell for around 450-550. Bashing the house just because it’s on the southside is ludicrous… Why not appreciate the fact that there are quality properties in the area, the area has seen significant improvement, and most importantly, it is very close to downtown (10 min. no traffic) AND the lake. The only issue with this area is lack of retail, but with all the development on the Roosevelt corridor (Best Buy, Target, Home Depot, Whole Foods, etc.) being only 10-15 min. away that’s not such a big deal. Plus Hyde Park is only about 5-10 min. away. For God’s sake be a little openminded, people!
Anon E. Muss or Anon E. Troll?
Anon E. Muss’s comments were far less troll-like (or at least far less ignorant) than westloopelo’s. westloopelo, you are new to the area–why would you possibly purport to know enough to dismiss the entire south side? If the agents you talk to steer you to the Northside, perhaps it is because you are coming across to them as a) an ex-sorority girl who needs to be near bars filled with ex-frat boys, or b) a racist. If neither of these describe you, then yes, neighborhoods on the Southside COULD meet your needs. Not WILL meet your needs–but your one-dimensional image of 1/2 the city is nothing short of ridiculous. And it also makes you an easy mark for real estate agents eager to sell you overpriced property.
Bob, if that’s your only response to my comments (I know, a rant, but I was a little upset at the time) then I obviously made some valid points.
Anon E. Muss,
Re: the troll bait–you had and still have no idea the ethnic origin of any commentator, too, so you’re stretching. 😀 You’ll need to be better than that. And while no valid points were made, it was at least mildly entertaining.
Thanks for this little gem though it had me laughing for a few mins:
“Lumping all the south side together in that manner is offensive and patently racist.” Property values are lower in the south side than north side. Obviously the real estate market must suffer from similar obvious racism. 😀
I bet this sells for less than 450. We’ll revisit this thread in the future and see where it landed.
i dont follow that logic bob. in your second paragraph.
Thanks for weighing in, Mr. Muss. There’s no reason to paint the south side with just one (or two or three) broad brushes but my guess is that there aren’t that many people on this board with a great deal of understanding of which neighborhoods and which blocks are ‘good’ and which ones aren’t. (Apologies to Kenworthey and other knowledgable posters.) The south side has been blessed with a beautiful, historical housing stock and great values and I for one would love to live there. Convincing my SO of course is another matter. But I would love to hear/read more about it.
This particular part of the south side is sprinkled with foreclosures, though (take a look at trulia). Just sth to consider…
Anon E. Muss, get a hold of yourself. No need to go accusing people of racism because you disagree with their characterizations of a neighborhood. Especially given that you’re the one ranting about “ignorant white people.”
This property is just not in a great location, and it is overpriced. Ignoring crime or demographics or whatever other factor you seem to think one is a racist for mentioning, the fact is that this home lacks convenient access to retail, rail, nightlife, dining, etc. The stuff people pay for. The same is true of most homes in Kenwood, Hyde Park and Woodlawn. Suggest you come to terms with this before you think about pricing your own home for sale.
I’ve enjoyed all of the comments. Wish we could allow for opinions of people who have first hand knowledge of these areas in Chicago and those who don’t. It’s called education. We can all learn something. I can be pretty quick to speak myself so don’t label me a diplomat. Far from.
I was born and raised in Chicago. Lived there until 1994. I worked for Kenwood Oakland Community organization in the late 80’s. First volunteer tenant activist and organizer. Then as property manager. The headquarters back then was a short walk to some of the most beautiful greystones but there were also a few Brownish red stones. I’ve been in a number of them. Those owners are all probably in heaven now. One of those properties alone could be the subject of it’s own book. Together would be an enormous body of work. These owners lived there and were in there 70-80’s back then. They were beautifully preserved and no one was afraid to live there. they in fact were fighting to keep the University of Chicago from acquiring them right out from under their noses.
Their concern was not only real estate, but another piece of OUR history being removed. They were in their 70-80’s in the 1980’s– my parent’s generation. The first generation born after slavery was legally abolished. What they accomplished collectively, not so much individually, was phenomenal. If the slavery aspect was removed and they had equal rights as whites had, meaning immigrants, can you imagine what they would have accomplished? It boggles the mind. What they did accomplish was done in a completely hostile environment with all odds against them. Black people feel the same way about crime, corruption and other factors as anyone else. The difference is, we also understand the system that created it in our communities and you don’t.
We understand the history of all this. A great documentary to watch is called “Banished.” Google it. It’s about how a cluster of states ran blacks away from cities in the south (mainly) and took their land, property, everything, until a white guy learned of the history and started digging. A black guy had learned of it through his family and created the documentary. It was all covered up and buried. They lied about why they were run off, claiming everything from rape to just plain criminals that couldn’t be tolerated. I know it’s true because the same thing happened in my family to my great grandparents on both sides. Our history is not your history. The layers of meaning with us, always goes a lot deeper.
I’m an amateur photographer, I could go in neighborhoods in Chicago that you can’t and be perfectly at home. Take pics all day long, have lunch and dinner without fear. That is the problem. Those telling our stories understand they have a limitation and would like to bridge the gap. Cool. We on the other hand would like to tell our own stories and have them well received as much as the second hand telling of them has been. It’s simple.