Get 4 Bedrooms for $130K Under the 2007 Price: 2245 N. Greenview in Lincoln Park
This 4-bedroom single family home at 2245 N. Greenview in Lincoln Park has been on the market since April 2010.
In that time it has been reduced $55,000.
It is now listed for $130,000 under the 2007 purchase price.
The house was built in 1989 on a oversized 15×130.6 lot.
It has a coach house and a greenhouse/sun room along with a 2 car garage.
The kitchen has white cabinets, granite counter tops and stainless steel appliances.
Only 2 of the 4 bedrooms are on the second floor, with a third in the basement and a fourth on the main floor (or is that in the coach house?).
What will it take to sell this house?
Joanne Nemerovski at Prudential Rubloff has the listing. See the pictures here.
2245 N. Greenview: 4 bedrooms, 4.5 baths, 2 car garage, 3300 square feet
- Sold in March 1990 for $210,000
- Sold in March 1993 for $275,500
- Sold in April 2001 for $610,000
- Sold in May 2007 for $1.425 million
- Originally listed in April 2010 for $1.35 million
- Reduced
- Currently listed for $1.295 million
- Taxes of $13,035
- Central Air
- Bedroom #1: 18×16 (second floor)
- Bedroom #2: 15×13 (second floor)
- Bedroom #3: 16×14 (basement)
- Bedroom #4: 11×10 (main floor)
The lot size looks to be unusual from the aerial view — like it widens into a triangle in the back (I think 15′ above is a typo).
Beautiful sunroom – a little close to Clybourn, but I love the coach house and landscaping.
Sunroom, kitchen and the woodwook/trim dining nook are quite awesome, and the overall layout, for the sq footage, seems pretty nice. Not so hot of a location.
i would not be mad if i paid 999k for this place.
but remember with 1.3mil can take you many places in the city and at least this home offers a few unique things to make it stand out.
I’d take JMM’s 2009 W Bradley house (pending sale seems to have fallen through) before this one, for location and school. I personally don’t place much value on the coach house.
I’d part with the coach house and one of the two garages if this place were east of Halsted (I know, I’m like a scratched record). And if it were about $600k cheaper.
Post a picture of what this house looks at – the Wheel Clean storage parking lot is across the street. Terribly ugly in my opinion. Because it’s across the street from an industrial lot I can’t see it for >$1MM.
Not the most desireable part of Lincoln Park, on a busy stretch of Clybourn that isn’t pedestrian friendly, not near the lake, in Oscar Mayer district. I’d say $850K.
This won’t go for more than $800K.
“Post a picture of what this house looks at – the Wheel Clean storage parking lot is across the street. Terribly ugly in my opinion. Because it’s across the street from an industrial lot I can’t see it for >$1MM.”
I Google earth’d this. I really don’t think the parking lot is that big of deal. Sure I’d rather be across from another house but I wouldn’t call this a deal breaker. I think the house itself looks very nice and I could see it going for around $1.1 in todays market.
It’s tough to get good understanding of the coach house from the listing, and the property does jut out back there due to the design of the streets.
Overall, if I needed this much space, it’s definitely a property I would look at.
Michelle – what is your negative on Oscar Mayer? My wife toured it last week and really liked it.
Dave I am sorry but to think this house will not sell for more than 800k is absurd. If it was priced at 800k there would be a bidding war, which would drive the price up near 1mil
The thing about the location I don’t get is calling it a “hidden gem”. Hidden from what, exactly? Heading south on Clybourn, you see directly into the front of the house across the mentioned parking/storage lot. Not what I’d call hidden.
The location *does* provide excellent access to car detailing services and the Salvation Army thrift store, so that’s a plus.
“Michelle – what is your negative on Oscar Mayer? My wife toured it last week and really liked it.”
For the magnet program, the Montessori program, or the neighborhood program?
I agree with other Joe re location. This place has no street appeal and is situated right up against the alley in the back on two sides. There is a lot of traffic zooming around 3 ft from these people’s patio.
“ ‘Michelle – what is your negative on Oscar Mayer? My wife toured it last week and really liked it.’
For the magnet program, the Montessori program, or the neighborhood program?”
No huge negative, and probably a good solid option for those looking to enroll into preschool or kindergarten currently. I’ve just noticed that the ISAT scores didn’t reach the levels that schools that have new programs installed into them usually post when the kids in the new program reach 3rd grade. This will likely change over time. But in general, OM does not have the “draw” that other area schools like Lincoln, Alcott, or even Agassiz have developed in the last few years.
anon(tfo) — Currently, from 4th grade down, there is just Montessori curriculum, for all neighborhood kids and anyone who gets in through the magnet lottery. From 5th up, there is only regular curriculum for all nabe kids and anyone in through the old magnet cluster lottery. This is all from what I remember from a friend whose child is there now.
The Montessori program is what she looked at.
For preschool
anon (tfo),
Any info on on Newberry Academy? is it worth applying to?
Thanks!
“Any info on on Newberry Academy?”
Not really.
Love the kitchen and the family room, but for over a $1M, I would want a formal dining room. The sunroom is fantastic, though.
I don’t understand what’s in the coach house – are there only 2 beds in the main house and 1 in the coach house? (Sabrina’s post says it’s a 4-bed, but the listing says 3 beds). Also, that picture with the washer/dryer appears to be the coach house as well. Is there no laundry in the main house?
Steve
Why be “sorry” for the opinion that this house is worth 40% less than its current offer?
“Dave I am sorry but to think this house will not sell for more than 800k is absurd. If it was priced at 800k there would be a bidding war…”
Why do you think Dave’s (and Michelle’s?) valuation in the 800s is “absurd”, benighted?
I’d genuinely like to hear your view.
anon (tfo), thank you.
This property will easily get multiple bids. Be honest with yourself, it in located in Lincoln Park, we are talking about the Lincoln Park located in Chicago, IL. It is tops!
When you combine the premium neighborhood, with a high walkable score, great parks everywhere, proximity to the lake, you just can’t beat it. As has been talked about many times on this blog, Lincoln Park is the one area of the city that will not be affected by the downturn in the economy.
(Just me sure to overlook the late night muggings, lack of North Shore quality elementary schools, drunkin’ frat boys, tough parking and mile long distance to the EL. Other than those items this place is perfect.)
This one is really too far west to command the pricing that one would think a “Lincoln Park property would command. Right near Clyborn, and really not that great of a block overall. Also, it only looks like it’s about 16 feet wide, so the square footage may be exaggerated in the listing by quite a bit.
It seems like the price history for this property shows how much “west” Lincoln Park has changed in just the last decade.
What I don’t understand is how you can be a professional for nearly 20 years of your life and then one day in 2007 say “Oh today’s the day I’m going to take out a million dollar mortgage because I’ve got 20% to put down.”
Behind every million dollar home is a million dollar mortgage. This one is no different.
The owner of this place is going to take a complete bath on this property. Just flush that money right down the toilet, no different than being a renter and getting stiffed by the landlord on the security deposit. Except that the security deposit is a couple of hundred thousand dollars as opposed to my security deposit of a couple of hundred.
I’m sure this owner makes great money.
He’ll need it to cover his losses on this terrible real estate investment. That’s what it is, right? You buy a home…you borrow a million dollars for an investment.
I think this is a really nice neighborhood overall, but the proximity to the L is a bit of a pain.
There are numerous new construction SFH in the surrounding area that are $2-$3MM, but this specific home is so close to Clybourn and has such an awful view out front, I can’t imagine coughing up the dough to buy it, especially if there are townhomes or condos to be had of similar size just a bit further east on say Webster (if you like this area).
And the location is abysmal. The design is terrible. Who wants to pay a million dollars for a home where you open the front door directly into the living room? The kitchen eating area is pretty cheesy for a million dollars. The backyard kind of sucks too because there’s only a patio, no deck or grass, and it’s on not one but two alleys and has a direct view of Clybourn. A million dollars? This is a nice home, yes, but it leaves a lot to be desired. The clybourn corridor is the schaumburg of lincoln park in so many ways. Sorry to rail on this house, but it represents so much of what is wrong with the real estate market of the past and the present. And the crazy thing is, this seller probably makes a lot of money, if he had just waited a few years..just a few more years…and had some patience, he could probably afford something in an area where he really wanted to live instead of settling for this place. He may as well just pull out the checkbook on this disaster. I actually feel sorry for this guy, I really do, paying $1.424 for this property damn near the height of the boom … I mean come on…at the time he probably felt like he was getting a deal because he negotiated 10% of the selling price too. Savvy.
“That’s what it is, right? You buy a home…you borrow a million dollars for an investment.”
Several people have told me recently that real estate (their primary residence) was an “investment.” I could barely contain my laughter.
But I’m with you HD. If you look at enough of these million dollar properties- what you see is a lot of million dollar loans. Where is all the wealth? Maybe it’s in the $3 million and up range. I don’t know. That is selling again but the $1 million to $2 million is still in the doldrums.
dedalus –
The value of any item is that in which a person is willing to pay for the item. Does anyone really believe that if this property were to be listed at 800-850k, there would not be multiple offers the next day?
Also want to clarify that I do not believe it is worth current ask, but 1million is very close.
CRIB! (as in “baby”)
I’m seeing this one as ideal for a nanny or in-law in the coachhouse situation, which I’m wondering if this isn’t… or rent it out, to help pay with the mortgage?
Weird location, I’ll agree, for the asking price. Y’all forgot to mention the housing complex at Fullerton and Ashland which is some kind of subsidized housing, if I’m not mistaken. Too close to Clybourn and I bet the smells from the Streets and San garbage plant as well as the Tannery make their way over her when the wind’s blowing the right way.
A mil is a huge huge haircut from the 2007 selling price and puts the seller underwater with a slightly larger than 1;000;000 loan.
If I were in the market for a 3/4 BR in the range of $1MM, I’d take this one instead, and it’s priced $300K lower than the one on Greenview, and in a much, much better location:
http://www.realtor.com/realestateandhomes-detail/423-West-Eugenie-Street_Chicago_IL_60614_M85886-48449
What really amazes me about Lincoln Park and its presumed ability to “hold its value” (after being regarded as something of a slum as recently as the late 70s), is that it somehow managed to gain its upscale reputation while being filled with cramped houses on narrow streets, often with no garages, and most amazing, NO LAWNS!
Maybe it’s just my upbringing, but if I were to drop a few hundred thou on a dwelling place, it would have to have more than a 3×3 garden parch in front and a 6×6 patio between the back door and the alley. For that kind of money I’d prefer Lakeview, Kenwood or a suburb where my property includes a LAWN with plenty of GARDENING space!
Or, alternatively, a really cool condo on LSD/Lakeview Ave/Sheridan Road with a plant-friendly balcony and lake/park view which would partially compensate for the lack of a lawn.
“houses on narrow streets, often with no garages, and most amazing, NO LAWNS!”
Have you been to the central parts of New York, London, Paris, Tokyo, Hong Kong? “Lawns” are not really part of the planning equation for densely populated sections of urban areas. Lincoln Park is only about 3 miles out from the Loop, and was largely built up in the 1880s/1890s, pre-automobile.
You may long for lawns and gardening, but many people are happy not to have that burden.
“If I were in the market for a 3/4 BR in the range of $1MM, I’d take this one instead, and it’s priced $300K lower than the one on Greenview, and in a much, much better location.”
You have to admit it’s a completely different style of house that might not appeal to all buyers. It’s all about what you’re into. It also has a 1-car garage, which some people won’t like (but at least it HAS a garage- given its old town location.)
“I’d prefer Lakeview”
You aren’t getting much of a lawn in Lakeview either, at least if you have a garage on your lot and a deck. A friend has both and their lawn is maybe 300 sqft. Makes mowing the grass pretty seamless though 😀
Bob, I’ve noticed that lately you have been rather calm and are making some very balanced non-confrontational comments with several “smiley faces”. What happened? I kind of miss the psychotic rants!
“I kind of miss the psychotic rants!”
As I have elaborated before as the week gets closer to 6:30pm on Friday Bob’s frown turns upside down.
“As I have elaborated before as the week gets closer to 6:30pm on Friday Bob’s frown turns upside down”
Bob i hate to say it, you may have a problem. i will be at the intervention only if there are fresh baked good.
“Bob i hate to say it, you may have a problem.”
Yeah I do. Its not 6:30pm on a Friday.
No lawn, no garage – unfortunate but not deal killers. Being on two alleys facing Clybourn for $1.425 million or even $1,000,000? NO way.
The house immediately north of this property was listed and sold for under $900K in 2009 and had a better layout (the traditional LP/LV single family layout). I do love the coach house, though. When I toured the house to the north, I thought 2245 made for an attractive neighbor from the outside. As others have noted, the big negative here is the fact that 1) you’re the first house in from Clybourn, 2) you look out at a car wash directly across the street and 3) you have a crazy alley right behind your house that gets a lot of use. I’ve been in the alley directly behind this house twice and had close encounters with cars using it as a cut-through both times.
the house Michelle posted is better. I almost think there must be something wrong with it to be priced a qtr mil below this crapshack.
I take back the crapshack. this place is nice, but it is a crapshack location
Michelle: Have you been to the central parts of New York, London, Paris, Tokyo, Hong Kong? “Lawns” are not really part of the planning equation for densely populated sections of urban areas.
I get your point, but the people who are interested in buying this property aren’t comparing it to properties in New York, London, Paris, etc. They are comparing it to properties within a 3 or 4 block radius, many of which have (small) lawns.
Madeline, I like the way you italacize (?sp) other people’s posts – it makes it really easy to separate people’s comments (esp b/c most of us are working and donig 100000 things while posting here).