Renaissance Interior Now in “Pre-Foreclosure”: 2015 W. Fullerton in Bucktown
We’ve chattered about this 3-bedroom unit with its own private elevator at 2015 W. Fullerton in Bucktown twice before.
See our last chatter and pictures in March 2009 here.
Since it’s original listing in December 2008, the unit has been reduced $204,100.
The listing also now says it is a “pre-foreclosure” and that the owner says, “make an offer.”
Who can forget the “renaissance interior”?
The property also has a private 1500-square foot rooftop deck that is decked out for parties with a hot tub and glass gazebo.
Is this property now a deal at this price for the square footage?
Mark Glusker at Mark Allen Realty has the listing. See more pictures here.
(Once again, please be thoughtful about the “renaissance interior.” Paint colors and furniture can be changed. The new owner also won’t own the furniture.)
Unit #2: 2 bedrooms, 2.5 baths, 3200 square feet, 2 car garage, 1500 square foot rooftop deck
- I couldn’t find a prior sales price but records go back to 1986
- Originally listed in December 2008 for $849,900
- Reduced
- Was listed in February 2009 at $749,900
- Reduced
- Was listed in March 2009 for $699,900
- Reduced
- Currently listed for $644,900– listing says “pre-foreclosure.”
- Assessments of $185 a month
- Taxes of $10,612
- Private elevator
- Hot tub
- Parking included
- Central Air
- Bedroom #1: 18×25
- Bedroom #2: 10×15
- Bedroom #3: 16×12
Congested area but the price per square foot seems more realsitic, especialyy when counting the rooftop deck. This place has some serious space. It wouldnt be too hard to change paint, fixtures, etc.
I agree. It’s too bad furnishings are so distracting…
This intersection is worse than Lincoln/Belmont/Ashland. And way dirtier/industrial. So wtf is pre-forclosure? Unless someone buys this in a month, they are going to forclose? Nobody going to seigfried & roy shows anymore or what?
It’s places like this that deserve to go into foreclosure and give the next guy a deal on it. These fools (and their realtor included) have had almost a full year to get a damn shovel and start cleaning this place out. Instead the price goes down $200K. What morons. I think (sucky intersection aside) there’s got to be some folk out there that are square feet-driven and this place is pretty big with a 3BR/3.5Bath… It’s no mystery why this place isn’t selling and why the next time we hear about it, it will be a foreclosure.
thank you sabrina,
i now have officaly put a dent in my desk from banging my head on it each day from the insane listing you post.
there is no need for a two car garage as it will take you 15 mintutes to get on block away form this home. You will be able to steal a whirrly ball cart and get farther faster
No surprises here. Glad this one is about the go down the tube. Sweet vindication
What an awful, awful area. Anyone who sees potential in this neck of the woods to pay $600k+ for anything is obviously drinking the same kool-aid as those folks from Eco Lofts.
I like what they’ve done here… a nice simple staging that will surely appeal to most potential buyers.
thanks for the update.
as a good non-judgmental person I try not to stereotype….but I totally imagine a crazy eccentric old lady or a flashy, Russian wannabe oligarch as the star of this backstory.
too bad I’m too lazy to lexis-nexis/CCRD the background of the property.
maybe if i’m bored later today…..
“ChiGuy on October 13th, 2009 at 10:38 am
No surprises here. Glad this one is about the go down the tube. Sweet vindication”
Why are you glad to see someone lose their home to foreclosure? I hope you don’t believe in Karma. Unreal the folks hiding behind screen names on this site.
The decor is so intrusive that it is almost impossible to “see” the bones of this place, thus no way to evaluate its real worth.
That being said, every comment that talks about the horrible location and the traffic is absolutely correct. There’s zero frontage there, it’s always dirty from trucks and buses, and trying to navigate that intersection at rush hour, or during daylight hours on the weekend is painful. I’ve made the mistake of taking Fullerton east to Damen on a Saturday, to get to the Costco, and have sat through 5 light cycles just to make that turn. horrible horrible horrible location. The only upside is you can walk to the Vienna Beef Factory cafeteria from here and have hot dogs and corned beef sandwiches year round!
“The only upside is you can walk to the Vienna Beef Factory cafeteria from here and have hot dogs and corned beef sandwiches year round!”
God I love Chicago people
this is not bucktown, or any other nieghborhood because their is not neighborhood here. There are no neighbors. This is an business strip/industrial coridor and it will be even worse once the Clyborn overpass is built in a few years. There should never ahve been residences build here. This should have remained commercial/light industrial.
For anyone not aware of this exact location; just pull up the google street view and be shocked that someone choose to live her.
Foreclosure is good because it starts the process of deleveraging bubble priced housing debt. It makes it easier for the rest of us to have an afforable home payment.
paulj-
good jeebus. I believe in karma, but I also believe in personal responsibility. Why is he going into foreclosure? Apparently he didn’t make good financial decisions by spending a shit ton to customize this place. karma states “if you try to play the market, the market will play you.” And I’m hardly hiding behind anything. My name is Chris Smith. whoopty doo.
Yeah, there are a few intersections in this city (at least east of 90) where the planets align and make it perfect storm of horrendous traffic at all hours of the day, everyday. Milwaukee/Halsted/Grand, North Ave & Sheffield (going West), Irving Park/Lincoln/Damen, and of course this one– Elston/Damen/Fullerton. Have no desire to live anywhere near here…
“once the Clyborn overpass is built in a few years”
Please to explain.
“Irving Park/Lincoln/Damen”
Never have a problem here, except immediately after Cub games or heading NW on Lincoln (which I just avoid–easy enough); spend more cumulative time waiting at Belmont/Lincoln/Ashland even tho I drive thru it less than 10% as often.
This place is a joke. The location is horrible and the decorating is putrid. This place may have had a chance had the price been dropped from the start and staged properly so it doesn’t freak buyers out. Even if it is just a little paint and furniture, most buyers can’t see potential and will focus on bad decorating.
It might be better to just rebuild it as an office building or something as no one in their right mind would generally choose to live at this location.
“Never have a problem here”
Really? Getting off Lake Shore and heading west on Irving is like a parking lot most days getting to that intersection.
“Irving Park/Lincoln/Damen”
in my life i have never had a problem here even during a saturday cubs game. maybe on damen going north i missed two lights, but from what i recall it was a woman trying to parallel park her extended Tahoe or something
The traffic is horrendous, but the location even setting aside traffic is worse.
Do you think Liberace ever worried about traffic?
Is this a cursed address? See 2015 W Fletcher which was chattered about a few weeks ago. It was the SFH foreclosure in west LV / RV that was reduced from $1.x mill to $698k and leaned to the right.
“Really? Getting off Lake Shore and heading west on Irving is like a parking lot most days getting to that intersection.”
Bad over to Ashland, but once it’s four lanes + parking (rather than rush hour no parking, w/o towing), I never have a real issue (i.e. worse than any E-W arterial on the N-side)–except w/ Cubs traffic.
“even during a saturday cubs game”
It’s the aftermath. And weekdays are worse than Saturdays, b/c on Saturdays a lot of the drivers hang around for much of the evening; on work nights, people head home en masse, right as rush hour starts.
good point anon, saturdays are more of stay eat drink days.
maybe this home is oblivious to traffice cause you can ride the pink unicorn (for an extra $55k plus parking) to anywhere you need to go.
I used to live across the street from here. If you commute out the the ‘burbs the location actually isn’t terrible. I was working in the western suburbs so the Damen ramp to the Kennedy was perfect for getting down to/from the Ike. Also, all the shopping you could ever want is within walking distance: Home Depot, Microcenter, Office Depot, Strack and Van Til, Target to the North, Best Buy and Kohls to the south. Once I got a job in the west loop it was a 15-20 min bike ride down Elston/Milwaukee. The bad parts are indeed that triple intersection (the problem is its really 3 intersections, not one), and it is not great to public transit. The Damen and Fullerton buses run right past there, but neither runs terribly late so your options are the 15 or so minute walk down Damen to the blue line, or the red line, which was closer to a 25 minute walk. My old roommate loves it there and still lives there.
Isn’t the tennis club across the street from here?
The intersection is not too bad in the sense that it’s not too hard to avoid. As long as you have it in mind, you can take Logan/Diversey/Webster/Western/Ashland/etc. I always approach the Target/Microcenter/Home Depot/Costco stores from the north and it’s not too bad.
I think the point about it being three intersections is right. I can’t really believe there isn’t something they can’t do to make it better.
Dumb question: is “pre-foreclosure” some new term? Does it mean something tangible? Like the owner has missed a mortgage payment or 3 or something? Is it like being pre-approved?
And if it isn’t, couldn’t you say ALL real estate is in a pre-foreclosure state?
“couldn’t you say ALL real estate is in a pre-foreclosure state”
I don’t know what it means (but assume it’s nonsense, like most realtorspeak), but only real estate subject to a mortgage is possibly “pre-foreclosure”, so, no, you couldn’t really say that.
I would take it to mean that a lis pendens was filed.
It is only correct to infer that every property with a mortgage qualifies as a “pre-foreclosure.”
“I would take it to mean that a lis pendens was filed.”
Does not appear so.
Also, it does not appear that there has been a condo dec filed.
A 90 day late on the mortgage is considered entering foreclosure even if the NOD isn’t filed. So if you went 90 days late and tried to buy a new house, lenders would consider the 90 day late on the credit report the same as if you went into foreclosure. My guess is the owner is at least 90 days late already and it is only a matter of time before the NOD is filed it becomes an “official” foreclosure and the bank moves to take the property.
“and it is only a matter of time before the NOD is filed it becomes an “official” foreclosure and the bank moves to take the property.”
Banks are intentionally not filing NODs in a timely manner to understate the number of foreclosures they’re sitting on and to not have to mark their books to market. So looks like mr. occupant is going to get some free easy livin’ for awhile.
Some banks have tried to slow things down a bit becuase the volume is too great to handle. In the meantime they try to contact the borrower for a workout/load situation. They want to at least attempt to make it a performing asset. They’re getting a lot of pressure from the government to slow it down.
Thanks for the clarification.
Another unit in the building is pre-foreclosure.
http://www.redfin.com/IL/Chicago/2015-W-Fullerton-Ave-60647/unit-3/home/25506974
This building is a disaster.
Unit 2 is now down to $559,900!
http://markallenrealty.com/PropertyDetails?show_address=yes&show_description=yes&show_virtual_tour=yes&pid=07095420&ls=MLSNI&presented_by=yes&use_close=true