A 4-Bedroom Classic Chicago Bungalow on the Park in Peterson Woods: 5746 N. Virginia
This 4-bedroom bungalow at 5746 N. Virginia in the Peterson Woods neighborhood of West Ridge came on the market in June 2016.
Built in 1923 on a 35×119 lot, the back of the house faces Legion Park. Legion Park is on the Chicago River and has nature paths and a children’s park.
It has 6 original leaded windows and the original woodwork.
The listing says there are hardwood floors under the carpet.
The kitchen has dark cabinets and white appliances.
The full walk out basement measures 2400 square feet and has a rec room, a bar, a full bath and a summer kitchen. (What’s a “summer” kitchen?)
The house has a 2-car garage but no central air. There are window units.
Originally listed for $579,000, it has been reduced $30,000 to $549,000.
The listing says it’s the first time on the market in 30 years.
Is this a deal for someone looking in Peterson Woods?
Terry Silis at Baird & Warner has the listing. See the pictures here.
5746 N. Virginia: 4 bedrooms, 2.5 baths, 2439 square feet
- Listing says it last sold 30 years ago. I couldn’t find a prior sales price
- Originally listed in June 2016 for $579,000
- Reduced
- Currently listed for $549,000
- Taxes of $6438
- No central air- window units
- 2 car garage
- Decorative fireplace
- Full walk out basement
- Bedroom #1: 15×16 (main level)
- Bedroom #2: 13×15 (main level)
- Bedroom #3: 13×18 (second floor)
- Bedroom #4: 10×18 (second floor)
- Sitting room: 16×9 (second floor)
CUBBIES LOLZ!!! AND FIRSTS!!!! OLD STYLES FOR ALL!!!!!!!!
“Is this a deal for someone looking in Peterson Woods?”
apparently not since it’s been on the market for 90 days.
I will say, to borrow from Jan Terri, Legion Park RAWKS!
“The full walk out basement measures 2400 square feet”
To the eaves, and front edge of the front of the house, the building is *maybe* 2250 square feet. I know the assessor sez 2400+, but that’s goofy.
Obviously not a functioning fireplace. 😉
Love the curved bungalows and those original windows. So much potential here – – get rid of the restaurant grade carpet would be step one. Looks well maintained even if the updates are not to your personal taste this one looks like you wouldn’t have to attack EVERYTHING before moving in.
That park is nice. That’s my old hood. Public transit is not easy in this area and if you work in the loop your commute will likely involve a bus for some of the commute…and my guess from here to the loop would be a minimum of one hour, more like an hour 15 door to desk which puts you into the category of not being limited to Chicago since quality of life is impacted when your commute is this long. Now, if your employment were at say, Swedish Covenant or some other nearby employer, this could be a good buy.
Grandma wants her house back. House needs urgent cosmetic renovation, new kitchen, gutted attic, etc.
I love it. So many of the original details preserved. Wouldn’t have to strip all the wood. And yes it needs to be updated, it hasn’t been on the market in 30 years.
Why do so many posters on this board just opine about “if your job was in downtown Chicago”. For the love of God, people are employed in all sorts of places besides downtown Chicago.
Sure, either working out of your own home or an easy 30 minute commute is ideal. But in the real world, most people need the paycheck first and then the actual location of an employer is way down the list.
I could do wonders with this. And the fact that I could make golumpki’s in the basement without messing up the formal kitchen is a big plus!
That border crap around the ceilings comes off real easy with some hot water in a spray bottle.
I don’t understand the difference in cabinets in that eating nook area though. Oak just throws it all off. Kitchen cabinets are a great match for the era of the house assuming they’re in great shape. Swap out the white appliances, different floor, non-white paint.
@Nimesh – – I think one should always look at commuting patterns and nearby employment centers even if it isn’t applicable to one’s own situation. When you sell, you want to appeal to as many people as possible, not the five people that are exactly in your situation.
It could be why this has sat on the market. If there is something about this specific location (despite the positives of the park and surrounding housing stock), that are causing this to sit undiscovered from that perfect buyer, these are likely going to impact the new owner when they go to sell.
I think most people buy close to their current job, even if that isn’t their current job in the future. Few people seek to have a long commute right off the bat.
“I think most people buy close to their current job, even if that isn’t their current job in the future. Few people seek to have a long commute right off the bat.”
Take a look rush hour travel times on the local highways and you’ll instantly see that this is not true. Suburban people think nothing of driving 30 mins or more to get to their job. Especially those with families, it’s often more important to live in an area they can afford than worrying about commutes.
Liz on October 5th, 2016 at 4:09 pm
@Nimesh – – I think one should always look at commuting patterns and nearby employment centers even if it isn’t applicable to one’s own situation. When you sell, you want to appeal to as many people as possible, not the five people that are exactly in your situation.
It could be why this has sat on the market. If there is something about this specific location (despite the positives of the park and surrounding housing stock), that are causing this to sit undiscovered from that perfect buyer, these are likely going to impact the new owner when they go to sell.
Liz, are you a realtor? Perhaps, just perhaps, the reason why this house has sat on the market is because it is over priced. If the property is priced accordingly then it will sell. It is funny how when a property sells, it is because of the realtor. If the property does not sell, then it is because “oh dear, this property is not in the green zone”, “this property is too far away from downtown Chicago”, “this property is too near Park Ridge”, etc.
Liz, you are correct, when buying a property, one should consider employment centers, neighborhood safety, schools, etc. That is a no brainer.
I think more than five people are in the same situation as I am. Homedelete makes a good point. When you make snide/3rd grade type of reasoning you lose credibility. The point I was making was why do so many people on this board just assume all of the jobs are located in downtown Chicago? Currently, my commute time is 25 minutes. What a blessing! But I have also worked in far away places like Orland Park, Naperville, Skokie and now finally 25 minutes away from my home.
This home is in a great neighborhood.
“the reason why this house has sat on the market is because it is over priced”
In a “better” location, the lot is worth more than the current asking price, and this house is better than a typical teardown.
What’s “better”? One big thing is a convenient commute to the (greater) Loop. Not the only thing, of course, but a big one, here in Chicago.
Ok, I guess we are now on to the sophisticated personal-insult type of reasoning.
“Nimesh on October 6th, 2016 at 9:06 am
Liz, are you a realtor? Perhaps, just perhaps, the reason why this house has sat on the market is because it is over priced. If the property is priced accordingly then it will sell. It is funny how when a property sells, it is because of the realtor. If the property does not sell, then it is because “oh dear, this property is not in the green zone”, “this property is too far away from downtown Chicago”, “this property is too near Park Ridge”, etc.
Liz, you are correct, when buying a property, one should consider employment centers, neighborhood safety, schools, etc. That is a no brainer.
I think more than five people are in the same situation as I am. Homedelete makes a good point. When you make snide/3rd grade type of reasoning you lose credibility. The point I was making was why do so many people on this board just assume all of the jobs are located in downtown Chicago? Currently, my commute time is 25 minutes. What a blessing! But I have also worked in far away places like Orland Park, Naperville, Skokie and now finally 25 minutes away from my home.
This home is in a great neighborhood.”
First off – – I am not a realtor, but you have insulted a large number of people who are realtors. Probably many who look at this board. Good job.
Secondly – – I never said this wasn’t a great neighborhood. You are getting into semantics there. “Great” is a personal assessment. “Bad” is a little more obvious – – like gang activity and such…everything in between is a grey area subject to point of view…
FYI, I don’t think this is “Great.” I think it is “pretty good.” It’s cute. The house has a soul and is part of Chicago’s unique architectural heritage. It has a ton of potential. The neighborhood is OK. It is GREAT if you have kids and they happen to get in to Northside College Prep. Then…maybe it would even be “awesome?” I am sure the neighbor people are nice but the walk score is low for an urban setting (79). The park is nice but there are other places to be and still be close to this park (the running path connects underneath all of the major cross streets, so it really feels like one huge park), AND get better access to transit. If it were “Great” it would have sold by now at this asking price. I am glad we all agree on that.
Homedelete actually did the opposite of make a good point. You both are making “3rd grade type reasoning” in assuming the type of person who seeks out the suburbs and/or doesn’t care about commuting options when they buy vs. the type of person who really wants to remain in the city are somehow the same type of person with the same views on commuting and wasting a chunk of their life in traffic. The two groups really have a fundamentally different point of view. The person staying in the city at this price point doesn’t want an hour long commute (caveat: unless their kid gets into NSCP). They might get tricked by someone telling them it is only 30 minutes on the brown line but they are just going to be ticked off when they realize they were duped. I really don’t think people choose to have a suburb-level long commute and live in the city. I have friends who live in the suburbs, because they have kids They don’t want to roll the dice on CPS and they don’t want to pay for private school. The trade off is the commute. However, I have a co-worker who lived in Downers Grove and his commute was shorter than mine when I lived in this very neighborhood (he was smart and took Metra instead of driving.) Then again, he had to mold his week-day life around Metra’s schedule.
I used to live in this area – -driving to the interstate to commute to other employment centers, is a BEAR after, say 6:30 AM. You will get stuck in traffic on all of the East / West major streets..and weekend traffic. Dear lord. Sure, crows flight you are closer to some of the areas you mentioning…. but seriously …Skokie? Couldn’t you just live in Skokie for less than this? (oh, and have easier access to transit for stuff you want to do in the City?).
This house appeals to a certain (very limited) pool of buyers who likely work very close to here since there aren’t commuting options, and like me, loves the house itself – – this house has a soul (unlike pretty much anything in the burbs). A few for whom this home will appeal are willing to compromise on the commute in return for having a cute bungalow. They will be faced with the fact that the appeal is fundamentally limited when it comes their time to sell. Really even if they price this according to recent sales in their neighborhood, I don’t think it “flies off the shelf.” The real estate fundamentals are still not there for MOST buyers….and commute time to major employment centers in an urban setting is fundamental.
If this property were closer to Lawrence (closer to the Brown line), guess what? It would have sold, Why? Commuting options. Even at this price. Between Lawrence and Montrose? It would have sold over ask. Sure – – at the right price, pretty much anything sells. Congratulations on realizing that. Home prices are sticky. This person sees the homes to the south (closer to Ravenswood Manor), selling for this price and they think “my location is not as good but my house is bigger so SOMEONE will think that is a fair trade” and they try to wait it out until that particular, somewhat uncommon buyer, comes along. The exact thing will happen again when that buyer sells – – they are selling to a somewhat uncommon customer. All jobs aren’t located in downtown Chicago, but when we are talking about a home located IN CHICAGO, it should most definitely be considered since if you don’t work in Chicago why would you choose to saddle yourself with the worst of urban living (CPS…assuming your kid is too young or didn’t get into NSCP) and the worst of suburban living (a long commute).
Is there an appreciably worse commuting (yes to the loop) location in the city where (some) houses sell for more than $500k?
“appreciably worse commuting (yes to the loop) location in the city”
Maybe this part of Dunning?
https://www.redfin.com/IL/Chicago/3716-N-Sayre-Ave-60634/home/13470539
“Maybe this part of Dunning?”
Not bad. Although while I do see a few $500k+ sales, it’s def less preferred location than the subject property. And you don’t have stuff like this:
https://www.redfin.com/IL/Chicago/3007-W-Hollywood-Ave-60659/home/13519261/mred-08463363
“it’s def less preferred location than the subject property”
Well, yeah, obv. For a host of reasons.
“Is there an appreciably worse commuting (yes to the loop) location in the city where (some) houses sell for more than $500k?”
Beverly and Morgan Park are long commutes even on the train.
Jackson Park south of Hyde Park is pretty far. No good public transport from there.
Galewood is pretty far- but there’s a train station there. And I would guess most sell probably $550,000 and under.