A Perfect Blend of Historic Charm and Modern Upgrades: 825 W. Oakdale in Lakeview
This 2-bedroom in 825 W. Oakdale in Lakeview came on the market in January 2025.
Built in 1920, this building has 10 units. It does not have parking but there is “short-term” parking behind the building and street parking.
The building is in the Oakdale historic landmark district, which is famous for its terra cotta wall, homes and buildings. The block was landmarked in 2006.
This is a top floor unit with 9 foot ceilings and plenty of natural light. I don’t think it has an elevator.
The listing calls it the “perfect blend of historic charm and modern upgrades.”
It has hardwood floors throughout and “elegant” crown molding.
It has vintage features like a separate dining room and an entry foyer.
The unit has an “upgraded” chef’s kitchen with white cabinets, granite counter tops, stainless steel appliances, a pantry and an in-unit washer/dryer.
It has a split bedroom layout.
The unit has some of the features buyers look for including the in-unit washer/dryer, space pac cooling but no parking.
The listing says it has “newer” energy efficient windows and there is a back deck off the kitchen which fits a small table for 2.
This building is near the Wellington Brown Line stop, Trader Joe’s, Mariano’s, and the shops and restaurants of central and east Lakeview.
Listed at $350,000, that is $51,000 above the 2016 sales price.
Interested? Better hurry.
The listing says the deadline for offers is today, Monday, Jan 20, 2025, at 4 PM.
“no exceptions. No escalation clauses per seller. Please use 7.0 contract and provide POF or pre approval and signed disclosures.”
Early on Sunday the “no escalation clauses per seller” was not in the public listing. It showed up on Sunday night.
How much over list will this 2-bedroom sell for?
Stephanie Wesson at @properties Christie’s has the listing. See the pictures and floor plan here.
Unit #3: 2 bedrooms, 1 bath, 1000 square feet
- Sold in July 1988 for $105,000
- Sold in June 1991 for $132,000
- Sold in September 2003 for $290,000
- Sold in October 2016 for $299,000
- Listed in January 2025 for $350,000
- Offers due on Monday, Jan 21 by 4 PM. No exceptions.
- Assessments of $343 a month (includes heat, exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $5840
- Space pac cooling
- Washer/dryer in the unit
- No parking
- Bedroom #1: 13×12
- Bedroom #2: 11×9
- Foyer: 9×4
- Kitchen: 14×9
- Living room: 16×14
- Dining room: 14×12
- Deck: 14×6
The prior sales prices on this unit tell the tale of the housing boom, and bust, in Chicago. It literally has been a 20 year wait for it to be over.
It’s been brutal.
Imagine the 2003 owner who sells 13 years later (a LONG time for any owner, but especially in East Lakeview) and you make NOTHING.
Would have paid down the loan, however. So you built some equity. But you can’t even pay the 5% to the agents.
With inventory so low, it’s finally going to make sense for people to own real estate in Chicago.
“With inventory so low, it’s finally going to make sense for people to own real estate in Chicago.”
——————————–
Inventory is not a long-term condition. Beyond-bankrupt finances, population loss, too many politicians (35 too many aldermen), hopelessly corrupt and ineffective education system — those are long term conditions.
Also, no parking.
This property’s marketing is clearly playing the Fear Of Missing Out card. Hard pass
“Inventory is not a long-term condition.”
We don’t know yet, do we? There is little new construction in Chicago so you are relying on homeowners to list. Inventory has dropped for the last 4 years. It really can’t go much lower or else it would be zero.
“Beyond-bankrupt finances, population loss, too many politicians (35 too many aldermen), hopelessly corrupt and ineffective education system — those are long term conditions.”
You can always tell when someone is older on this blog and last lived in Chicago decades ago. It’s always about the schools with the Baby Boomers or oldest GenX because that’s what it was when they were young. But it hasn’t been about the schools in 15 years.
Once GenX parents got “trapped” in their condos during the housing bust, they set out to get involved in the schools in their neighborhoods. And they did. I’m not saying every CPS school is outstanding. They aren’t. But many of them are good to excellent enough that people don’t even give a thought to buying in the city.
Your child may not get into the high school they want, however, which is a bigger issue.
I wish older suburbanites were aware of what is going on in the city now.
By the way, the agent has not yet marked this as contingent so we’ll see if they DID get offers by Monday at 4 pm.
Sale history skips a Sep-2012 sale for $271,500–when there was still window a/c and a ‘space-age’ fireplace in the living room. Also had the same fridge, d/w and range.
Nice place; Kitchen is tight tho. could see living here as a single.
“ We don’t know yet, do we? There is little new construction in Chicago so you are relying on homeowners to list.”
What are the forces that make developers unwilling to build?
You typically list a myriad of reasons as to why Chicago is desirable, yet developers aren’t developing.
It’s a mystery for the ages….
“You can always tell when someone is older on this blog and last lived in Chicago decades ago. It’s always about the schools with the Baby Boomers or oldest GenX because that’s what it was when they were young. But it hasn’t been about the schools in 15 years.”
Lies
Younger generations are pushing off or not starting families, so their time horizons are completely different. Schools are still a major issue.
FYI, Sabrina, I have lived continuously in Chicago since mid-1983. Still do.
nice that it is a split bedroom set up. So a couple can use one bedroom as an office and won’t disturb someone in the primary bedroom.
it’s also possible to rent out that smaller bedroom although it does mean sharing a bathroom.
a bit concerned that there is only one single artistic shot of the bathroom
“FYI, Sabrina, I have lived continuously in Chicago since mid-1983. Still do.”
My bad. Johnc. I assumed you have lived in the suburbs for the last 30 years with your crazy talk of the boundaries from another era.
“What are the forces that make developers unwilling to build?”
Can’t get the loans. CAN get the loans for apartments so they’re building those.
Although there is what will possibly be the first condo building in Fulton Market during this cycle. Prices will be a million and up but I’ve said for a while that there is demand for condos in that neighborhood. Many don’t want to live in apartment buildings with a bunch of 20-somethings.
When the Fulton Market sales center opens later this year, I’ll go check it out and report on it. I’ll be interested to see how fast (or slow) the units sell. It’s a taller building and it will take a few years to build. Will buyers be willing to wait for their new units?
“Younger generations are pushing off or not starting families, so their time horizons are completely different. Schools are still a major issue.”
How many times do we have to have this discussion on this blog?
Millennials and GenZ are NOT you JohnnyU. Yes, they ARE marrying later (good for them.) But that doesn’t mean they aren’t marrying and buying homes. And, yes, having kids.
Your comment acts like NONE of them are having children JohnnyU, yet there are over 300,000 kids in CPS.
Let’s talk about that “younger” generation. The oldest Millennial is now 44 or 45 (I lose track at this point.) They are middle age. The youngest is, what, 28 or 29?
50% of mortgages are going to Millennials. So, yeah, they ARE buying in the city of Chicago and they’re NOT afraid of the schools. The quality of the Chicago Public Schools is really an issue with the Baby Boomers and oldest GenX. Younger GenX have raised their kids in the city of Chicago.
Schools are a “major issue” if you can’t afford a neighborhood school district that has the good schools. That is true of every suburban town as well. It IS a “major issue” if your child doesn’t get into a preferred high school but most will get into one that will be fine. My kids did. My friends kids did. They are all fine. Went to college and are now living and working in the city.
Hooray.
But I really wish the older people here would just move on from this. It is not 2002 anymore when Nettlehorst was being “turned around.” Parents have been willingly sending their kids to Nettlehorst for 20+ years.
“there are over 300,000 kids in CPS”
325,305.
15 years ago, there were 409,279. More than a 20% decrease.
Population of the city is only down 1.15% in the same period.
Metro area is up about 5% in the same period.
Where are all the children? Certainly NOT in CPS.
As a reminder, I’m one of the few (ever!) on theCC whose kid(s) are K-12 CPS kids.
BTW, Wirepoints has a good graphics: employment up at CPS by circa 25k since 2019, enrollment down 100k.
We are in a Detroit death spiral. How long before we get lap dances to – ahem – raise revenue?
“We are in a Detroit death spiral. How long before we get lap dances to – ahem – raise revenue?”
It’s amazing to me that someone who says he has lived in Chicago since 1983 still doesn’t recognize he’s part of the problem.
What have YOU done Johnc to improve life in your community? It must be a lot because you’ve lived here for 42 years. 42 years in a city that is in a “detroit death spiral.”
Why? Why would you stay? And the 1980s and 90s were some of the worst times in the city. Schools WERE terrible. Whole neighborhoods abandoned. Crazy bad crime. Were you a police officer, fireman or teacher that you HAD to stay in the city limits johnc? But if so, you should have long ago retired. Why not leave 20 years ago?
I just don’t understand subjecting yourself to an awful life for decades when you can move anywhere in the country and live the dream. Hell, could have gone to Hawaii for cheap in 1983.
And because you’ve been in Chicago for 42 years, you have seen it all. The good, the bad and the ugly. But you must admit that things are pretty good in the city in 2025, considering we’re still recovering from a pandemic where thousands of people fled the city and it was basically shut down.
Even with the pandemic, this decade is NOT the 1970s or 80s.
“15 years ago, there were 409,279. More than a 20% decrease.”
Yep. Please tell us all about the fertility rates anon(tfo). Maybe you might learn something.
Yawn.
“employment up at CPS by circa 25k since 2019”
Wow! So OVER DOUBLE??
44,876 total employees as of the fall: https://www.cps.edu/about/stats-facts.
I–ahem–call BULLSHIT!
“Yep. Please tell us all about the fertility rates anon(tfo).”
15 years ago (SY 09-10), total IL public school population, ex Chicago = 1,696,500
Last year (current year statewide data appears not avaialble yet), total IL public school population, ex Chicago = 1,490,837
down 12.12%–so that’s the fertility + leaving illinois baseline.
CPS, same period: down 21.02%. 8.9% higher–36,425 kids “missing” from CPS.
Where did they go??
And, again: I’m one of the few (ever!) on theCC whose kid(s) are K-12 CPS kids.
I have no interest in making up BS to tear down CPS.
Back to the Wirepoints nonsense.
It’s easy enough to fine the IPI article, and the actual facts are enough without making up shit:
“employment in CPS has increased by 5,472 full-time staff members between December of the 2019-2020 school year and December of the current 2023-2024 school year. That’s a 15% increase in full-time staff members amidst a 9% decrease in enrollment.”
“Total full-time equivalent staff positions [including those not filled] increased by 6,665.”
https://www.illinoispolicy.org/chicago-public-schools-employs-5500-more-staff-members-for-32000-fewer-students-during-past-four-years/
I am using rough numbers here
from 2019 to 2024 CPS headcount expanded 7-8k ish. I’m not saying the headcount increase was not necessary; it looks like there were over 1k increase in special ed teachers
for sure the Wirepoints number is wacky unless we don’t trust the numbers from CPS directly
https://www.cps.edu/about/finance/employee-position-files/
Oh, also:
enrollment is NOT down by 100,000 since 2019.
18-19 count was 361,314
19-20 count was 355,156
So, that’s only off by a factor of 3 as well.
But it’s all in the neighborhood, right? Just like we could call the featured unit “in the Heart of Bucktown!”
How about East Bucktown Gate?
This property is now marked as contingent. We’ll see how aggressive the bidders got with their offers.
Closed at $430,000.
June 1991 for $132,000 + CPI = $308k
September 2003 for $290,000 + CPI = $497k
September 2012 for $271,500 + CPI = $372k
[plus a good amount spent on reno]
October 2016 for $299,000 + CPI = $392k
Good for them actually coming out ahead in real dollar terms, after a couple of painful sales.
This closed for $80,000 over the list price.
OMG.
It is WAY hotter out there in some neighborhoods than we know. There are simply too many buyers and not enough properties. In Lake View right now, there are STILL just 162 properties listed. It’s a dense neighborhood with thousands of apartments. I guarantee there are several thousand people looking to buy there.
I wonder how this appraised out? Or did they pay cash?
Downtown is still struggling, especially in the luxury market. Too many units for sale. But that is not true in the neighborhoods.
By the way, I’m not posting regularly because it’s just really depressing with what’s coming on the market. I’m hoping that now that we’re after the Super Bowl the inventory will improve. But will it?