A Touch of the Mediterranean at 2532 W. Coyle in West Ridge
And you thought the only place to find a touch of the Mediterranean was in Lakeview.
Apparently, you can also find it in West Ridge, specifically in the Indian Boundary Park neigborhood, west of Western at 2532 W. Coyle.
This house was built in 1927 and, even though I’ve said it before, they just don’t build them like this anymore.
2532 W. Coyle: 3 bedrooms, 1.5 baths, no square footage given, 2 car garage
- I couldn’t find a previous sales price
- Currently listed for $629,000
- Full Basement
- Coldwell Banker has the listing
Did you know that Indian Boundary Park is the only other park to have a zoo in the city (other than Lincoln Park)?
Indian Boundary Park & Cultural Center [website]
I WAAAAAAAAAAANT IT!!!!! I must HAAAAVE IT!!
Will somebody on this board write me a 50-year ARM with a 12-year reset and a .0005% teaser rate so I can buy this house?
West Ridge is full of houses and big apartments like this.
West Ridge is one of the most beautiful neighborhoods in Chicago and its suburbs combined. It has incredible architecture, mostly, like this beauty, built in the 20s. There are many spectacular single family houses, and countless really gorgeous old courtyard buildings. Have you ever seen the Casa Bonita, the white-terra-cotta covered fairy-tale castle at 7340-7350 W. Ridge? Or the Park Castle, that has Indian Boundary Park and has a free-form, Moorish-mosaic indoor swimming pool? Casa and a few other old buildings there also have indoor pools. There is the city’s biggest supply of really elegant old 3-flats, with 7-an-8 room units replete with gorgeous millwork and big rooms.
On some summer day, take a walk down N. Campbell between Devon and Touhy, past that park, or down Farwell between Western and Damen. These are incredibly beautiful streets.
It’s a beautiful, safe area with reasonably decent access to public transit AND ample parking. The prices are very modest, and it has (so far) a very low crime rate.
Last sold 7/13/98 for $249,000.
At 4% annual growth since 1998, that would make it worth about $375,000. Is there anything special about this neighborhood that would have made it outpace that?
Nothing really special about it that would have made it outpace, say, Lincoln Park or Streeterville, Kenworthy.
So, I’m sure the price asked is way more than it’s worth, even though it seems like a gift compared to the prices we have seen for the past few years. I notice that I have become totally densitized to really outrageous prices, since this runup. Just because any little bungalow that needed all kinds of work, in East Rogers Park cost $400K, doesn’t mean anything, because we all know now what drove housing prices to Wonderland levels.
Even so, $375K seems awfully cheap for this. This would rent for at least $3000 a month, if not more, so I would think $450K for it, at least.
It is lovely. If the price they paid was cheap because it was in poor condition, I can see in the $400’s. But then again, I just don’t know this area. I’m comparing it in my head to Hyde Park, which has equally gorgeous vintage housing stock–and in Hyde Park, a house like this probably *would* go for the high $300’s at best.
They clearly fixed the place up. Did they spend $250k on it? No. But you need a (re-modeled) neighborhood comp. I’ve seen similar asking prices on un-updated 3/1.5 stick houses in Lincoln Sq/W. Lakeview, so it isn’t a crazy listing price.
I’m not sure what Hyde Park houses you are thinking of Kenworthey. I’ve been watching the Hyde Park market pretty closely over the last few years and I sure haven’t seen any houses of that size and in that condition list or sell in the high 300s. Seems like most nice single family homes in HP proper have been selling for over 500K with plenty going for well more than that (many large but not mansion-like homes near campus are listed for well over a million right now). Prices seem to be softening but not to the point you can get a house like this for under 400K. People are still asking 400 or more for some of the larger condos near campus!
Kenworthey,
Where in Hyde Park can you get a place like this for the high 300s? Certainly not near the university. If so, show me the listing.
I get a circular every week filled with beautiful rehabs and even new construction. Look, for instance, in Madison Park buildings, which is around 54th St. (I think–I’ve driven through it many times), and many people associated with the University live there. Jaw dropping stuff all throughout Hyde Park (and Kenwood, too). When I have a little time I’ll search some out and link; in the meantime, the main real estate agents in the area are Urban Search, and Century 21.
Kenworthy,
There are no houses like this for 300K in Hyde Park. Think more like a million+. You must be thinking of apartments. Actually, house price developments in HP would be another nice chat topic. The appreciation rates have been crazy and prices show no sign of dropping to a nonprofessional like me(though sales seem to have slowed).
Rather than pore through them myself, take a look directly at the most recent circular I’m referring to: http://www.hpherald.com/c13.html . Incidentally, common wisdom in the neighborhood is that whatever Urban Search is listing it for, knock off at least 5%. Even in good times, they are known to routinely over-ask.
Thanks, Kenworthey,
Yes, thanks! And I have noticed myself that Urban Search overprices – though I wasn’t aware it was common wisdom.
I have been looking in both HP and Lincoln Park, incidentally; and to my surprise, prices between these to neighborhoods are not that different (surprising, because HP is still not all that safe).
Kenworthy, I would never compare this area with Hyde Park. There’s no comparison- this is a much better area than Hyde Park as far as public safety, access to city amenities, convenience, and public transit goes.
This area is usually much more valuable than East Rogers Park or East Edgewater.
East Rogers Park might be a better comparison to Hyde Park.
West Ridge-West Rogers Park is contiguous with the suburb of Lincolnwood, and is extremely quiet, clean, and safe, though a little “dull”.
K:
That Urban Search ad had 3 single-family homes, the cheapest of which is over $1.5mm. Some people may feel that a townhouse is the same (or better) than a SFR, but that doesn’t make them actually comparable. Even at that, the THs are listed at $387-475k.
No doubt, $629 is a bit rich, but no way the same thing in HP is really only $375. More like $450+. And so maybe $550 for what and where it is.
Laura: Funny you should mention Casa Bonita as I chattered about it six months ago.
The architecture is lovely.
http://cribchatter.com/?p=395
There are some unique properties in the West Ridge neighborhood.
Sabrina, I love Casa to pieces.
Only thing bad about it is the high assessment, due to beautiful, finely detailed terra cotta that covers the building. This is an ongoing high cost, so it is figured into the monthly assessment so that people don’t get whacked by monster surprize specials. The pool, I’m told, isn’t really such a big thing, maintenance-wise.
Did you know that there was once a little putting green on the roof of the center entry vestibule? It caused leaks, though, so it had to be closed.
The place has a fantasy atmosphere. The only other buildings in the city that match this one for incredible visual effect are the unbelievable Powhatten and Narragansett buildings in Hyde Park- two gorgeous Art Deco towers that are covered with really colorful terra cotta. These places could inspire a fantasy novel, too.
Will we ever build places like these again?
Interesting about the 1920s. The massive credit bubble of that era caused the Great Depression, but also left us a huge inventory of really beautiful, well-built buildings with incredible details, that people still love living in. I wonder if all the stuff we built in this past rampage will hold up half as well, or be so treasured.