Short Sale on Wrigleyville Rowhouse: 1016 W. Grace

This 3-bedroom rowhouse at 1016 W. Grace just a few blocks north of Wrigley Field in Lakeview has been on and off the market since September 2007.

1016-w-grace-approved.jpg

It is now listed as a short sale for $140,000 under the 2005 purchase price.

Built in 1993, the rowhouse has all 3 bedrooms on the third floor.

It also has crown molding in every room.

The kitchen has white cabinets and granite counter tops and Subzero and Thermador appliances.

There are skylights, 2 wood burning fireplaces and a 2 car attached garage.

Is this a deal?

Sam Jenkins at Conlon has the listing. See more pictures here.

1016 W. Grace: 3 bedrooms, 3 baths, 2 car garage

  • Sold in November 2005 for $839,000
  • Originally listed in September 2007
  • Listed in October 2009 for $769,000
  • Lis pendens filed in January 2010
  • Reduced
  • Currently listed as a “short sale” for $699,000
  • Fee simple
  • Taxes of $10,219
  • Central Air
  • Bedroom #1: 17×14
  • Bedroom #2: 12×11
  • Bedroom #3: 11×10

21 Responses to “Short Sale on Wrigleyville Rowhouse: 1016 W. Grace”

  1. Anyone have the listing price history? can only imagine the ridiculousness that the 07 original list price had to be approaching….

    0
    0
  2. “PLANTATION SHELTERS”……. do people not proof-read before posting? I’d fire Sam …or his assistant who does all the work so he can be doing whatever it is agents do……

    0
    0
  3. This was clearly a million dollar home in 2007.

    0
    0
  4. “do people not proof-read before posting?”

    I’m more worried about the “gran counters.” I always wondered what happened to Gran after we scattered her ashes. It’s a shame she ended up as trendy counters in some cookie-cutter townhouse.

    Seriously, though, it’s a nice-ish place, kind of bland, with a cramped combo LR/DR and an open kitchen. Not much to distinguish it from the competition.

    0
    0
  5. This is the price history from my personal tracking file:

    1016 W Grace 939,000 1/16/2008
    1016 W Grace 939,000 1/23/2008
    1016 W Grace 925,000 2/12/2008
    1016 W Grace 949,000 4/2/2009
    1016 W Grace 899,900 4/21/2009
    1016 W Grace 769,000 10/16/2009

    0
    0
  6. “I’m more worried about the “gran counters.””

    It’s stupid in the intertubez era, but the space-limitations on MLS either involve minimal descriptions or totally stupid abbreviations. Altho I hate the stupid abbreviations, they are a function of the MLS allotted character count.

    “Plantation shelters” is unforgivable sloppiness.

    0
    0
  7. “whatever it is agents do……”

    work on their GED?

    0
    0
  8. “Altho I hate the stupid abbreviations, they are a function of the MLS allotted character count.”

    Oh, I know. I just find that the abbreviations are unintentionally funny sometimes.

    0
    0
  9. Also, let it be known that I really really really and I mean really I hate Juliet balconies

    0
    0
  10. “really I hate Juliet balconies”

    Enh. French-door-type window w/ a grate to keep your dog/kids/drunk-friends from falling out when it’s open. Despite much to the contrary on the intertubez, I think this is mis-described as a juliet balcony, which should have enough space to stand outside, if just barely.

    0
    0
  11. Another dishwater-dull unit with 8(?)-foot ceilings and no soul — and we have seen a lot of condos at this (high) price on CC of late.

    0
    0
  12. Are there 2 separate vanities in the master bath placed a couple inches from one another? Looks cheap.

    0
    0
  13. Saw that it is sold ‘as is’ (plantation shelters and all). Will banks finance an ‘as is’ purchase nowadays?

    0
    0
  14. “Will banks finance an ‘as is’ purchase nowadays?” I believe as long as it is inhabitable, financing wouldn’t be an issue. Now if it was missing appliances, sinks, toilets, etc. That is another story.

    0
    0
  15. For $700,000 you get a 3 bedroom rowhome a stones throw from the Sheridan red line? This is too close to Uptown to command an East Lakeview price. But it has surround sound so I am sold!

    0
    0
  16. I wonder what “as-is” plantation shutters and gran countertops and tumbled subway mosaic marble surr sound comp for these days

    0
    0
  17. this was in the early days of Enviorns Development! Back in 93 Ken Brinkman of Enviorns was my landlord over on Grace. A friend of mine actually bought one of these units. I recall it being nice although they found it to be too close to the game day drunk parade for a young family. Now he is doing 5000 sq.ft. 2 to 4 million dollar homes. He is an EXCELLENT builder! Someday maybe ill own one of his homes.

    They sold the unit in 1999 or 2000 in order to build a house in the burbs. They joked that they chose to sell first and move into an apartment while the new house was being finished in order to avoid having a bridge mortgage. During that 3 month period another sold for around 50k more! My friend felt like they left money on the table and had to move twice. Quite a hassle.. Was that the start of the big run up in pricing in East Lakeview?

    0
    0
  18. As I posted earlier, it appears that property values in Wrigleyville are shrinking in direct proportion to the Cubs’ fortunes. The “cachet” attached to paying bigbucks for the “priceless” amenity of savoring a World Series victory close-at-hand is falling victim to a “vintage” (102 year) reality check.

    I am only partially kidding.

    0
    0
  19. No sense in paying a premium to live among 25 year old drunken big ten grads. That is unless you yourself are a 25 year old drunken big ten grad….

    0
    0
  20. Looking at the 360 scene of the kitchen it doesn’t appear to be open. Looks like a decent sized eat in kitchen (22×12).

    “Seriously, though, it’s a nice-ish place, kind of bland, with a cramped combo LR/DR and an open kitchen.”

    0
    0

Leave a Reply