After Painting, Staging and a Price Reduction, 2 1/2 Years Later 3729 N. Hermitage in Lakeview Sells
We last chattered about this 3-bedroom single family home at 3729 N. Hermitage in Lakeview in May 2011.
See our prior chatter here.
It had been featured previously on Crib Chatter in December 2008 but never sold.
It was withdrawn and rented for $3000 a month.
In the spring, it came back on the market listed $80,000 under the 2008 list price at $619,000.
One of you guessed it would sell for $560,000 and another guessed that $600,000 would get it done even though it did not have a garage (though one could be built in the small backyard- as the house was built on a smaller than standard lot of 25×108.)
The house recently sold for $580,000.
If you recall, the house had new paint and staging.
The kitchen had granite counter tops and stainless steel appliances.
It had a partially finished basement.
2 out of 3 bedrooms were on the second floor with the third on the main level. There was also an open loft space on the second level.
Mitch Gordon at Baird & Warner had the listing.
3729 N. Hermitage: 3 bedrooms, 2 baths, 3100 square feet
- Sold in November 1990 for $126,000
- Sold in September 2000 for $380,000
- Originally listed in June 2008 for $774,900
- Reduced several times
- Was listed in December 2008 at $699,000
- Withdrawn and Rented
- Was listed in May 2011 at $619,000
- Sold in August 2011 for $580,000
- Taxes of $8972
- Central Air
- No garage
- Bedroom #1: 15×12 (second floor)
- Bedroom #2: 14×13 (second floor)
- Bedroom #3: 10×10 (main floor)
- Loft: 13×12 (second floor)
- Partially finished basement
Homedelete-
Did you buy this one? I know you have an appreciation for quasi-modernized, Victorian frame worker’s cottages in the $500k plus range 🙂
It’s cute, but that’s a lot of money for a little place like this.
“It’s cute, but that’s a lot of money for a little place like this.”
3100sf is little? From what I’ve seen here, it looks like an ok deal. I don’t think they make walk up condos that large unless you have two full floors, which is basically what this house is.
well 1550 of that is either sloped ceilings or basement
not little but still
How much do people discount space when there are sloped ceilings? 80% ???
That’s possible true and I just read the previous chatter where some were thinking ther 3100sf includes the unfinished basement. Either way, I’ve been looking at housing at higher prices than this and from the pics I would have considered it. I would pay to add a garage and finish out the basement.
looking to buy:
If you have some cash and a little vision, maybe consider this 2 flat a couple of blocks away. I don’t know anything about the property other than it’s $130k less than this SFH, and very sililar:
http://www.redfin.com/IL/Chicago/3823-N-Ravenswood-Ave-60613/home/13387791
TB
Thanks for the link. It looks like it is across the street from the train tracks. I’m not sure if it is metra or cta.
Metra. Not really a big deal. It’s a great area, close to Trader Joes, Southport, etc.
I call it like I see it. The place looks little from the outside, and the upstairs rooms are squeezed by sloped ceilings. Part of the basement is unfinished. The other part is, well, a basement.
The place on Ravenswood is far less charming on the outside, if that counts for anything, and about 100 Metra trains speed by across the street every day. Maybe that’s a reason for the discount.
If you put the Hermitage and Ravenswood places in a photo line up I could not tell them apart from the curbside photo.
Metra is not that loud, but I realize living on Ravenswood isn’t everyone’s cup of tea, nor is a (very inexpensive 2 flat).
Clearly there is a discount for being on Ravenswood. But it’s a great area of Lakeview for the price of a condo. A few blocks east is $1-2MM SFHs. West is North Center. Not too shabby. Just my opinion…
” about 100 Metra trains speed by across the street every day”
70 on weekdays, about 25 on Saturdays and about 20 on Sundays.
Depends how much you like/dislike neighbors. For many, having tracks rather than people across the street is a plus.
TB,
The Ravenswood place looks like someone “modernized” it in the 1980s, with lots of fake paneling. Looks cheap. The Hermitage place, with its stucco exterior, looks much better, but that’s just IMO.
The Robin’s Egg blue siding on Ravenswood house is definitely late 80’s. Are there geese on the kitchen wallpaper and trim?
“The Hermitage place, with its stucco exterior, looks much better, but that’s just IMO.”
Stucco (or dryvit, or whatever)? In this climate, over ~100 year old frame? Eeek. I hadn’t noticed it.
“Robin’s Egg blue siding on Ravenswood house”
Dunno what you’re looking at, but the linked house at 3823 R’wood ain’t blue.
Loctionlocationlocation is what “sold” this place. Close to good public and Catholic schools, Brown Line L stop on Addison, Addison St. Bus, Lincoln Ave. Bus, cool non-cookie-cutter retail on Lincoln, and a nice healthy walk to Wrigley on the east…or the Mayor’s house to the north!
I toured this house and it is actaully very big inside. 3100 sq feet did not include the unfinished basement, which was full height already (about 8 feet) so no need to dig out.
It’s definitely one of the better areas in the city IMO and the block is great.
Not sure what people are talking about stucco?
Sold in November 1990 for $126,000
Sold in September 2000 for $380,000
Rehab was done after 2000, right.
So big appreciation during the 90’s. I wonder what interest rates were in 1990? 8%? If rates ever rise back to the “old normal”, housing will get crushed even more.
“So big appreciation during the 90’s. I wonder what interest rates were in 1990? 8%? If rates ever rise back to the “old normal”, housing will get crushed even more.”
The formula is not that simple.
” 3100 sq feet did not include the unfinished basement”
No offense, but that is completely *UN* possible. The house is no more than 22′ (I say slightly less) wide on the first floor and has not more than 15′ (again, I say less) usable width on the second, which–even ignoring the *HUGE* open staricase to floor two, would mean the house would have to be ~83 feet long–which, with the setback in front, would not leave any space for a garage.
If I had to guess I’d say the house is about 78 feet long. There’s maybe 10 feet out front and there was ‘just enough room’ in the back to put a 20 x 20 garage, but not have any yard. you would have to do a roof deck.
point being, it is a large space for the price and neighborhood. I am blown away that the small lot on Grace got 670, that was about 100 too high I think.
“If I had to guess I’d say the house is about 78 feet long. There’s maybe 10 feet out front and there was ‘just enough room’ in the back to put a 20 x 20 garage, but not have any yard. you would have to do a roof deck.”
Sidewalk is part of the lot, too, and I was being generous in those interior widths. With the huge open area over/around the stairs, there’s no way it’s a legit 3100 sf.
“So big appreciation during the 90’s. I wonder what interest rates were in 1990? 8%? If rates ever rise back to the “old normal”, housing will get crushed even more.”
Interest rates were over 10% for most of the 1980s. By 1990s they were just starting to moderate but IN 1990 you would have paid 9.5% to about 10% for a 30 year fixed.