After 3 Years on the Market, the Vintage Mansion at 629 W. Fullerton Finally Sold
We last chattered about this 5-bedroom vintage mansion at 629 W. Fullerton in Lincoln Park in February 2010.
See our prior chatter here.
It had 7,000 square feet of living space with all 5 bedrooms upstairs.
It also had a 2-car garage, 4 fireplaces, central air along with a new DeGiulio kitchen.
After about 3 years on the market, it finally sold this summer for about $1 million off the original listing price.
Is it all about price in this market?
Emily Sachs Wong at Koenig & Strey had the listing.
629 W. Fullerton: 5 bedrooms, 4 full baths, 2 half baths, 7000 square feet, 2 car garage
- Sold in June 1988 for $195,000
- Sold in August 1994 for $875,000
- Sold in June 2000 for $1.616 million
- Originally listed in August 2007 for $2.695 million
- Reduced several times
- Was listed in June 2009 for $1.995 million
- Was listed in February 2010 at $1.995 million
- Sold in July 2010 for $1.7 million
- Taxes of $12217
- Central Air
Man, that 1988 price is really something else. I’m sure the place was a dump in need of updating and so forth, but the idea that you could buy this place for what a 1 bedroom condo goes for … (or at least went for a year or two ago).
Calderon, believe it or not, this neighborhood was not very good in 1988. . .
Sweet batcave though. Although this market segment is confusing to me, I saw this place and this seems like a pretty good price.
P.S. Kudos to all on the prior chatter. . . I’m still chuckling. . .
if i HAD to live in LP this would be the place i would pick if i HAD the money for it.
why would you want to live near DePaul?
bleh
I bet if they originally listed it for under 2 million, the closing price would have been higher than what they eventually got.
Still, good for them. They didn’t lose too much
“why would you want to live near DePaul?
bleh”
You obviously have no appreciation for how well behaved DePaul kiddos are vs. true obnoxious ones. DePaul kids are angelic vs. some of the shenanigans I did & saw many others do.
no surprise there, yawn
true bob… I got busted having sex in some Depaul kid’s frat house room back in like 2000… he didn’t do anything but clean his sheets after I was finished
hilarious
did you at least buy him dinner?
SquareD: not sure how old you are or where you were living at the time, but this area was VERY nice in 1988. I don’t think the 1988 price looks correct unless it was an inside sale or something.
SquareD on November 12th, 2010 at 2:24 pm
Calderon, believe it or not, this neighborhood was not very good in 1988. . .
JAH, it appears to be a transfer to a trust and not a sale.
If I had my druthers, it would be a block east on Fullerton (or east of Clark and not right on Fullerton, as long as I’m druthering). But $1.7 for this kind of place, in that general location, is pretty fantastic. Congrats to some very fortunate buyers.
“it appears to be a transfer to a trust and not a sale”
A deed to a Trust? Or a Trust Deed (aka, a Mortgage)?
If the former, usually an exempt transaction, so the “value” would be $0, so the value attached would make it seem a part interest.
Thus, I’m speculating (no time to check) that it’s actually a mortgage.
What do people think about this one then for $1,099,000?
http://www.redfin.com/IL/Chicago/641-W-Fullerton-Pkwy-60614/home/13350370
It is just west of this house and looks great on the outside. 8000 sq ft but no interior pics. The description says that it is extensively rennovated.
Perhaps the property was “sold” to a “straw person” (perhaps the buyer’s lawyer) who then transferred title to a land trust that s/he set up for the buyers (who may for various reasons not want their ownership of this house to be a matter of public record).
The trust is then shown as the “borrower” on the mortgage a/k/a trust deed.
I encountered this many times while working in mortgage lending during the 1980s.
I think I may have seen this house on a broker’s tour a couple years ago. As I recall it was done up for the holidays in grand “Victorian” tradition. In fact, in a few weeks that whole stretch of Fullerton should be looking like something out of a Thomas Kincade Xmas card collecton.
“What do people think about this one then for $1,099,000?
http://www.redfin.com/IL/Chicago/641-W-Fullerton-Pkwy-60614/home/13350370”
Marie, the listing indicates that there’s still some money to be spent in there. Still, even if it takes another hundred thousand or two, it looks like one heck of a deal. $1.2 million for a 7,000 sq ft place, walking distance to the park/lake, Lincoln elem. If only it weren’t twice my price range…
I just wanna know why the taxes for this are some 30% lower than for the much lamer building at 14xx W. George. I need the name of the tax attorney who handled this appeal!
“I just wanna know why the taxes for this are some 30% lower than for the much lamer building at 14xx W. George. I need the name of the tax attorney who handled this appeal!”
Age of building? They might not be in the same category.