Back to the 2002 Price for This North Center Loft? 3900 N. Claremont
This 2-bedroom authentic loft in the St. Ben’s Lofts at 3900 N. Claremont in North Center has been on the market since April 2010.
It is a short sale.
The unit has exposed brick and ductwork and what looks like timber ceilings in some of the rooms.
The kitchen has white appliances and no granite countertops.
The loft has hardwood floors throughout, a balcony and central air.
I can’t tell from the public listings if it has a washer/dryer in the unit but other units in the building have them in the unit so I’m assuming it does as well.
The loft has been reduced $15,000 since August and is now just $4,000 above the 2002 purchase price (if you add in the parking.)
Is this unit going back to the 2002 price?
Cara Buffa at Prudential Rubloff has the listing. See the pictures here.
Unit #201: 2 bedrooms, 2 baths, 1250 square feet
- Sold in January 1999 for $202,500
- Sold in September 2002 for $265,000
- Originally listed in April 2010
- Listed in August 2010 for $264,000
- Currently listed for $249,000 (plus $20k for parking)
- Assessments of $257 a month (elevator building, also includes cable)
- Taxes of $3972
- Central Air
- Washer/Dryer in the unit? Probably.
- Bedroom #1: 17×15
- Bedroom #2: 13×11
If there was ever a HomeDepot kitchen done in a weekend, this is it. And its a healthy 6 block or so walk to the el. Otherwise, it seems ok. Price still needs to drop though.
So, this comment is going to be off-topic from the original post, and of course I accept if Sabrina deletes it or no one responds. But I’m giving serious thought to buying the following property and wanted to have the Crib Chatter commentariat talk me out of it:
http://www.redfin.com/IL/Chicago/2330-N-Geneva-Ter-60614/home/12804804
Advantages are that it literally couldn’t be closer to Lincoln Elementary and it has an overall great location, with a short walk to the lake/park and an okay walk to the Fullerton el stop.
Disadvantages that I saw when going through it were that the kitchen is kind of small and not open to the living room (just a passthrough), and the bathrooms also are a little small.
In addition, the second floor is set up somewhat oddly, with a “second master” that has a connected den. The “second master” is better used as a family room and the den as an office, which gives the place more of a 3 bedroom feel than having 4 bedrooms.
Actual interior square footage looks to be around 2260, based on the floor plan and my mouth.
I was thinking if I could get this ofr under $800k that would be acceptable (assuming it appraised out), but am prepared to be dissuaded.
OK… I’ll give it a shot. That street is quite busy. And for almost a mill I would not want to still have to pay monthly fees (which I’m assuming since it’s a townhome).
I would make the connected bedroom/den into two adjoining kids rooms or they could share the big one and have a connected playroom. I don’t like a 2nd floor family room (just my opinion though). And you may come to like the separate kitchen, a lot of people prefer that. I kind of think that the whole “open plan” concept, ie; the kitchen stuck in the corner of the living room, will seem dated in a while… kind of like vessel sinks.
I wonder about that beautiful old house across the street that has been under construction forever. That curved window in front is GORGEOUS!
I am with TS 110% on the open plan concept. You will grow to love a separate kitchen and be thankful when you don’t have to build a wall when it gets old. I’m already over it. I only want places with separate kitchens now. It’s creepy and weird to be cooking in your living room. I don’t know what we were thinking.
TS also had a good idea with the adjoining rooms. I had an add-on room before off the master. Does it have a proper door? That would make a big difference. You might need to add one if it doesn’t.
After that, what does your heart say? Do you just want this because it is in your price range and it’s next to the school? Or, do you really, really want to live here? I loved this episode on HGTV where a couple started weeding around the house before they knew if their offer was accepted. They REALLY wanted to live there. It looks beautiful, but does it make your heart sing?
About the property listed on CC – that’s a lot of brick wall to be looking at in multiple places. I think you’d start to go a little batty after awhile. Some of the photos look hopeful, but I think it would feel weird six months in.
The street is a bit busy. And for me it’s a bit far west (though it’s about as far west as I’d go).
That said, if I could swing $800k, I would be highly inclined toward buying this place. If you’ve got no more than two kids, this is a place in which you could live for a long time. (Perhaps I missed it, but I couldn’t find any monthly assessemnt.)
And I think the kitchen looks just dandy.
Thanks very much for the comments; please keep them coming. The 2330 North Geneva Terrace place (which actually is on Kemper) does not have any assessments. There is a joint bill for insurance that’s shared with the 2 other townhomes in the development, but of course insurance is something you’d have to pay regardless.
“Thanks very much for the comments; please keep them coming. The 2330 North Geneva Terrace place (which actually is on Kemper) does not have any assessments. There is a joint bill for insurance that’s shared with the 2 other townhomes in the development, but of course insurance is something you’d have to pay regardless.”
Just curious- but why do you want complete strangers to validate the biggest purchase of your life? You either love it and it works for your family, or you don’t. What do you want us to say?
Re: The Claremont property. I’d say this is a good pick up. Yes, of course, the kitchen is a home depot special, you can’t expect something else for this price.
Pick this up for $250 with parking and put in an amazing kitchen and you’ve got a solid place.
Calderon: I’d be extremely nervous paying 25% above what the 2002 purchaser paid, even with the renovation. Sure, you can drink the kool-aid that LP will hold it’s value better than other areas but that’s nonsense. The current owner of the home got a ‘deal’ on his new multi-million dollar home a little south of this home and you deserve a deal too. $800k (assuming the current owner accepts that) is not a deal. The listing price at $890k and the ‘hold firm at my wishing price for over 4 months’ strategy is ridiculous. Prices have held firm in this area for one reason: rich people can afford to pay their mortgages, even on vacant properties, and they refuse to sell for reasonable asking prices. So hence the stalemate. That’s the mirage of the ‘green zone’ holding it’s value.
Don’t let your impatience cost you a hundred thousand dollars.
I’m not sure I agree completely, Sabrina. There is a lot of wisdom on this site and a lot of knowledge about the Chicagoland real estate market. So, while I agree that it is silly to just want others to validate your purchase, if calderon thinks that he can gain valuable financial and real estate advice from the people on this site, I say ‘bring it on.’
Sabrina:
Because the commentators on this site can be brutally honest about a property. Typically, people you know or the Realtor won’t be as honest about a purchase.
For example, Homedelete’s recent comment was insightful. If I were purchasing a new property, it is the kind of remark I’d want to hear.
“Just curious- but why do you want complete strangers to validate the biggest purchase of your life? You either love it and it works for your family, or you don’t. What do you want us to say?”
Thanks Sabrina, and that’s a fair question. The main thing I’m looking for are negatives or drawbacks to the property (or positives, for that matter) that I may have missed. While I’ve viewed the property and done some research on the area, I’m not an RE professional and have a lot less knowledge than others on the board. So they may see problems that I wouldn’t.
And again I apologize for the off-topic post. I do think the occassional open thread where people could talk about properties that they pick or Chicago RE-related issues would be informative and interesting.
Calderon, I noticed this place the other day and thought about swinging by at some time to check it out. No worries, I’m not in the market right now. Judging by your comments and what I thought of the place from the listing, I bet it’s a deal at $700k. Main upsides for me where that the kitchen and baths are “newer” which is not really the case with most townhomes in the area and Lincoln is right out the door. I can’t think of too many downsides other than I feel they are asking way too much.
holy RILF Batman
Sabrina:
Sometimes its good to get feedback from others before getting into a purchase. Imagine if he were selling it and reached out to people and said “tell me what you think?” that would be a rational decision to make because he can address issues. Why not know those going in? I can completely understand not being sure if I’m seeing everything – we tend to look at things from our own perspective. What’s important is that Calderon not allow us to talk him into/out of what would really be a good decision for how own life.
Calderon, have you looked at some of the places around Eugenie Terrace and Clark? There’s a bunch of time with different pricing and states of repair/disrepair. Their list prices have come down quite a bit in the last couple years.
http://www.redfin.com/IL/Chicago/1740-N-Clark-St-60614/unit-1732/home/13345498
Calderon,
do you need to be in LP? or are you just looking for a good school district?
for 800k try MLS 07532528 for a better school, more land, bigger place and IMO a better area to raise a family.
Groove77 – Norwood and LP are two different places, two different lifestyles. Not comparable, really. There’s nothing wrong with LP per se but $890k for a 4 bed townhome is a bit much, don’t you think? $700k might do it but it’s going to take a long winter or two before the current seller gets sick of carrying two mortgages. There’s a lot of money to burn in the seller’s industry.
HD — thanks for your perspective. I know Zillow give an estimate in the low 700’s for the property, but because it doesn’t always take account of renovations I thought a higher price might be fair. I’m also worried about the consensus that housing prices will fall for at least another year, making this a bad time to buy. There has been a part of me that wants to open at $690 or even $680 and see if the owner is willing to deal.
DZ — I haven’t looked at that one in particular, but did check out http://www.redfin.com/IL/Chicago/150-W-Eugenie-St-60614/unit-30/home/28436829 which I was pretty lukewarm about (have no idea how they get to 3300 sq ft on that one). For those properties you’re also looking at significant association fees, which has its upsides and downsides. The property you named does look interesting.
Groove — probably need to be in or around LP. My significant other wants to be in either a very urban or rural environment, no suburbs. Otherwise, we could just go to Wilmette and be done with it. I think she may consider Norwood Park too suburban. You did name a good property in MLS 07532528 that someone liked, since it just went under contract.
I would definitely want the opinions of the people here, buying or selling. It’s nice to hear other points of view plus a lot of the people here know a lot more about real estate than I do.
“I know Zillow give an estimate in the low 700’s for the property, but because it doesn’t always take account of renovations I thought a higher price might be fair.”
Zillow? Are you kidding me?
That site has no clue as to property values. None.
“Groove77 – Norwood and LP are two different places, two different lifestyles. Not comparable, really. There’s nothing wrong with LP per se but $890k for a 4 bed townhome is a bit much, don’t you think?”
100% agree its apples and oranges i was just going for dramatic effect, because i like to always point out the 800k can take you a long way in this LARGE wonderful city. there is life past western and yada yada all the other regular stuff i usually say.
“$700k might do it but it’s going to take a long winter or two before the current seller gets sick of carrying two mortgages”
i dont think it will be a monetary issue more of a mental hindrance.
btw, after my summer experiment i am pretty anti LP now and for the price you pay for property IMO your not getting your money’s worth and maybe are getting ripped off.
Calderon the previous purchaser paid 610k for it in 2002. Chicagoland Case Shiller index values are back to 2003-2004 levels, so about 10% above 2002. Also this neighborhood was already gentrified back then, so no above market depreciation for the hood getting better.
I think its a deal at 670k. A 2nd garaged parking spot would add substantially to this, IMO, putting it in the 730k range, but with only one spot thats a hindrance for a property that size.
There’s a certain LP mindset that cannot be denied. if you want to live there, you want to live there and you will pay dearly for it. However, that’s no excuse to overpay and provide a nice profit to some 2002 buyer, while many other 2002 purchased properties are languishing.
Sonies started adding the Bailey’s early to his morning coffee apparently. I give her a 7.
Calderon: How long do you envision living there? We look at townhomes from time to time but in the end decide it’s hard to see living in even a large townhome long term with a family. Do you have your hearts set on LP as opposed to other parts of the north side where you could get a SFH in a good CPS elem for the same ballpark?
“However, that’s no excuse to overpay and provide a nice profit to some 2002 buyer, while many other 2002 purchased properties are languishing.”
HD, would you like to suggest a place?
Also, on the Claremont place, I haven’t checked but am sure it’s Bell. Surprised it doesn’t say that. Could be a candidate for a single parent with one kid perhaps.
“Groove — probably need to be in or around LP. My significant other wants to be in either a very urban or rural environment, no suburbs. Otherwise, we could just go to Wilmette and be done with it.”
fair enough just wanted to show options in the price range, and i can understand your point. everyone has different wants and preferences.
so now knowing that LP is your thing, i cant remember the address but we randomly walked into a TH off armitage i think the list was like 700k but gave two parking spaces had your open floor plan kithcen but you loose on bedroom. it was pretty basic as can be nothing wowed us and it was a TH “complex” too which felt to socialist to me. but worth a check.
we also checked a more expensive TH with views of parker, it had a tighter layout but had multiple outdoor spaces and nice overall finishes.
as for your hjacked thread property 2330 geneva;
do you worry at all the living space is is about 2 steps below grade? i might be wrong but picture suggests this?
its a all around nice place to live and you WILL love the separate kitchen after a while. a separate “eat in” kitchen is ideal.
now the lay out is great in my mind, the two masters is a great idea af one can turn into a family room/media room i would suggest the 3rd floor with the baclony
“Sonies started adding the Bailey’s early to his morning coffee apparently. I give her a 7.”
no wonder you live in a studio alone with your cat, your standards are too high!
I heard this quote from a perma bear like HD who actually did call the financial crisis on a RE blog in Philly – “If you’re not embarrassed by the offer you make you are offering too much.”
That guy saved me from making a disasterous purchase at the height of the market.
Calderon, I think that house is beautiful and if you are serious about buying I don’t think you should shy away from a lower offer in the 700s. I’m a bit of a bear myself, all I need to know bout housing right now is that Zombie Freddie and Fannie are the only thing keeping the mortgage market alive right now. I’m not going to touch RE til I can afford something of this size in the city, which likely won’t be for 5 more years, and I still wouldn’t pay more than 700 for it then.
“Also, on the Claremont place, I haven’t checked but am sure it’s Bell. Surprised it doesn’t say that. Could be a candidate for a single parent with one kid perhaps.”
Yes, in Bell.
It seems like half the building has been for sale at some point in the past two-ish years.
No actually, I would suggest the potential buyer wait until the new year, or possibly spring to resume searching. There are few if any deals in the neighborhoods where he wants to live.
I didn’t have the wherewithal or finance to short the market or to short CDS/RMBS etc in 2004/2005/2006/2007; being only a few short years into my career it would be ridiculous if I did. But I did hedge my own bets – I RENTED and paid down other debt. And I warned a number of friends NOT TO BUY but they wouldn’t listen and I’ve done a few of their Bk’s basically pro bono.
“HD, would you like to suggest a place?”
Calderon –
Wait – don’t ever be in a hurry to buy a house (or car) – there will always be a house (or car) to buy.
I agree with homedelete – don’t let your impatience cost you money. I think there’s room for that price point to come down in the future. If you have to buy, sounds like there’s a lot out there where you can get a bigger bang for your buck.
Sabrina – I think Calderon asking for feedback is a great idea. There’s a lot of expertise here and your chatters will give an honest opinion/cold hard truth, which I think is needed when buying a home. Realtors and significant others are too emotionally or financially attached to the decision.
You could even add a seperate feature to your site to accommodate the Calderons of Chigago. A cribchatter fan could enter a property link and ask for feedback. IMHO, I think it’d be very popular and we wouldn’t go off topic.
Jon — I do know Zillow is pretty unreliable. I’d probably go through Redfin to purchase and have them do market comps, and of course would have an appraisal done. I’ve used Zillow simply as an attempt to get a ballpark on the price.
HD, Bob, and Joe — thanks for your comments on the pricing. If I decide to try to go for it, I’m definitely going to be starting low ($700k or below) and see what happens.
Groove — I think you’re right that the living/dining area on the 1st floor is below grade. It being slightly below grade is something I wouldn’t have thought of, though I believe I’m okay with that.
DZ — that’s a tough question, though I’d plan on living there long term. I’m fine with smaller living spaces, and have lived in a 680 sq ft convertible for the past 10 years. Of course, it’s hard to say how the space would be living with children, especially more than 2. But currently we do not have any children and given our ages more than 2 or 3 seems unlikely.
As for other spaces on the north side, I’d be interesting so long as it’s somewhat close the lake and it has to be close to public transportation (I hate driving to commute). I admit that so far I’ve looked primarily in the Lincoln and Alcott school districts, along with looking at Wilmette to see how much more you can get in one of the most upper-scale suburbs for the same price …
“no wonder you live in a studio alone with your cat, your standards are too high!”
No the cat has long since moved on to greener pastures. He’s now with my parents and has been for some time–eating only fancy feast appetizers like sirloin and tilaipa.
He definitely eyes me suspiciously during holiday visits, likely not sure if I am planning to kidnap him back to his former years of living like a serf.
I hold saleswomen to a higher physicality standard than regular ladies: they better be blonde if they have a career such as a RE agent where they basically do little other than insert themselves as an intermediary into a transaction. Oh okay they do sooooo much work marketing.
Bob:
Man, you are sexist. “They had better be ‘blonde’ and ‘higher standard than other ladies.” Did I miss something and we timewarped back to 1952? The amount of misogyny that underlines such comments is staggering.
“I didn’t have the wherewithal or finance to short the market or to short CDS/RMBS etc in 2004/2005/2006/2007”
There was more than just lack of liquidity between you and being able to bet against housing by doing anything other than renting.
Also, had you had a workable plan to take a workable short position and started in 2004, your liquidity would have evaporated before the market stopped being irrational.
Calderon:
I think you also have to be comfortable with the idea that prices might drop 5-10 percent more. I don’t think that’s necessarily going to happen but I think there’s a very serious risk of it. That’s my take on it, others will differ, although I’m not sure there are many on here at the moment who would say they are confident there would not be at least a 5 percent drop. For the right place, I’m willing to accept that possibility.
As far as neighborhoods, depends on how far from the lake you’re willing to go. E.g., is northcenter-ish too far? You can get a SFH in Bell or Blaine in the $900K ballpark. It won’t be the fanciest place on the block but won’t be a shack either.
Agreed. I’m pretty content right now with NOT being underwater and NOT having to pay $2,200-$2,500 a month for my mortgage (Which is what i would be paying for what I want had i bought back then). Sure it would be great to be like taht guy on 60 minutes who made hundreds of millions shorting the market in 2008 from his home office in KC but I can’t complain about my situation.
“#anon (tfo) on October 1st, 2010 at 10:07 am
“I didn’t have the wherewithal or finance to short the market or to short CDS/RMBS etc in 2004/2005/2006/2007?
There was more than just lack of liquidity between you and being able to bet against housing by doing anything other than renting.
Also, had you had a workable plan to take a workable short position and started in 2004, your liquidity would have evaporated before the market stopped being irrational.”
Wasn’t this about the Claremont property? This place is scary cheap for this area.
“As far as neighborhoods, depends on how far from the lake you’re willing to go. E.g., is northcenter-ish too far? You can get a SFH in Bell or Blaine in the $900K ballpark. It won’t be the fanciest place on the block but won’t be a shack either.”
Speaking of which: 2121 Grace appears to be hoping for overbids out of the foreclosure.
I saw a guy on the elevator this morning going up to Fannie Mae with a giant binder that said “REO Sales – New Hire Orientation” or something like that. We’re going to clear the shadow inventory in no time!
“Bob:
Man, you are sexist. “They had better be ‘blonde’ and ‘higher standard than other ladies.” Did I miss something and we timewarped back to 1952? The amount of misogyny that underlines such comments is staggering.”
You know what statements like yours indicate: you’re a woman who came out with bad genes, huh?
Its too bad for you not all the political correctspeak in the world can change the fact that males aren’t going to go for uglies. Sorry tool in sales professions appearances matter (for both sexes, idiot). Now go back to your ivory tower and pontificate about the way you wish the world operated.
Agreed. I’m pretty content right now with NOT being underwater and NOT having to pay $2,200-$2,500 a month for my mortgage (Which is what i would be paying for what I want had i bought back then). Sure it would be great to be like taht guy on 60 minutes who made hundreds of millions shorting the market in 2008 from his home office in KC but I can’t complain about my situation.
“#anon (tfo) on October 1st, 2010 at 10:07 am
“I didn’t have the wherewithal or finance to short the market or to short CDS/RMBS etc in 2004/2005/2006/2007?
There was more than just lack of liquidity between you and being able to bet against housing by doing anything other than renting.
Also, had you had a workable plan to take a workable short position and started in 2004, your liquidity would have evaporated before the market stopped being irrational.”
“Man, you are sexist. “They had better be ‘blonde’ and ‘higher standard than other ladies.” Did I miss something and we timewarped back to 1952? The amount of misogyny that underlines such comments is staggering.”
Do you know why I like Telemundo and other spanish-speaking channels? Their culture hasn’t been invaded by uglies like you who try to shape society to pretend that appearances don’t matter. We don’t need no ugly quotas, prof. Stop attempting to continue to poison Anglo culture with your nonsense because you’re upset with the direction of YOUR life.
“Wasn’t this about the Claremont property? This place is scary cheap for this area.”
Not really. #206 just closed for $256k; #303 closed in March for $275k; #105 (a 3/2 duplex, with private-ish outdoor space) sold for $370 in June–down from $406 in 2002.
For the building, it priced about right to get sold. I’d bet on ~$255k with parking.
“Groove — I think you’re right that the living/dining area on the 1st floor is below grade. It being slightly below grade is something I wouldn’t have thought of, though I believe I’m okay with that.”
below grade always has me twitchy, and with a new mayor and cuts coming streets and san and etc i personally would hate that gamble.
one thing i do ask you to do, is say to yourself this is a 800k home when i walk in the door after a shyte day at work and “mail” out my mortgage payment will i still feel happy i paid 800k for this.
trust me i have grown to be irked by my neighborhood (love my house) and the days the hood just “grinds my gears” i remind my self how much my mortgage is then i smile and chuckle and all is better.
Bob: Attractive and intelligent women aren’t going to ‘go’ for misogynistic neanderthals, either, so I suppose you are out of luck.
haha bob you are awesome we have to get a drink sometime
“Bob: Attractive and intelligent women aren’t going to ‘go’ for misogynistic neanderthals, either, so I suppose you are out of luck.”
prof: although I don’t doubt your gender is female lets be honest: you don’t belong to either category.
And in light of that, your opinion, or even very existence, holds no water whatsoever with me. If you were to jump off a bridge or whatever other method you choose to end your miserable existence I wouldn’t have a single reaction other than perhaps a smirk.
Your attempts at insults scream straight out of a small liberal arts college freshman’s vernacular. Seriously is that all you can come up with?
Its common knowledge among all of us guys that the opinions of ugly F’s don’t really mean a whole lot nor do they translate over to more attractive F’s because they’re bitter.
“Wasn’t this about the Claremont property? This place is scary cheap for this area.”
Not really. #206 just closed for $256k; #303 closed in March for $275k; #105 (a 3/2 duplex, with private-ish outdoor space) sold for $370 in June–down from $406 in 2002.
For the building, it priced about right to get sold. I’d bet on ~$255k with parking.
Its scary cheap because I know people who bought on that block for way more in 2004-05. It is scary for them.
I am starting to think that real estate is like throwing money into a bottomless pit now.
werent you the guy that bought a place in uptown?
“Its scary cheap because I know people who bought on that block for way more in 2004-05. It is scary for them.”
3944 is a brutal building. And 302 is going to absolutely kill comps when it eventually sells.
DZ — I am prepared to accept a drop, regardless of how much I pay for a place. To some extent, it won’t bother me unless I’m trying to sell, and I’m hoping to be in the next place I buy for a long time to come. For the Bell and Blaine school districts, what would you do for high school? Try to get your kids into one of the selective public high schools or private school?
Groove — that’s an interesting way to look at it. I know before I make a decision I’ll want to tour the place again, and when I do so I’ll keep in mind how I’ll feel about paying the mortgage.
Overall, HD is probably right that waiting a year would be the best thing financially. That sort of depends on what happens between me and my SO, though we could always just rent for a year.
Finally, while I don’t want to comment specifically on what Bob said, I will say that the real estate business does seem to have a disproportionate share of attractive women. The realtor for my first place in Chicago (not who I picked, but who I ended up with after selecting the agency) was Katie Cleary, who was on “America’s Next Top Model” in their first season.
Anyway, thanks for all the advice, and good luck to all those who are or will be house hunting.
“For the Bell and Blaine school districts, what would you do for high school? Try to get your kids into one of the selective public high schools or private school?”
How is that different from LP? Almost no one has good things to say about the LPHS neighborhood program.
“For the Bell and Blaine school districts, what would you do for high school?”
That, as we like to say, is a problem for future DZ. Seriously, it’s a fair question, but do you envision living in the townhome with kid(s) in high school? Is LP high school good enough to be worth living in a townhome for 20 years?
“while I don’t want to comment specifically on what Bob said, I will say that the real estate business does seem to have a disproportionate share of attractive women.”
And IT has a disproportionate lack of them. Its amazing and completely confounds logic!
Oh no! You mean to say that looks matter in sales (and more generally in society overall)?! GASP! Don’t tell that to prof–its going to ruin that dateless pimple face’s senior thesis that attractiveness doesn’t matter anymore because after the 50s “enlightened” people don’t care about such trivialities.
I bet prof is seething that a higher power here isn’t interested in suppressing ideas or viewpoints that differ from the ones prof has been taught in her liberal arts undergrad. Where the professors are quick to suppress dissenting viewpoints to their garbage.
Aww its sad outside of that libtard ivory tower–isn’t it, prof?
Bob, are you insane? Do you know many college educated, attractive women? I have news for you: very few have engineering, science or even finance educations. The vast majority had majors that are housed within the “liberal arts” tent.
“How is that different from LP? Almost no one has good things to say about the LPHS neighborhood program.”
Well, fair enough for the general program, but I thought the IB and Double Honors programs were well regarded?
“That, as we like to say, is a problem for future DZ. Seriously, it’s a fair question, but do you envision living in the townhome with kid(s) in high school? Is LP high school good enough to be worth living in a townhome for 20 years?”
I could definitely see living there with high school kids. While it’s a townhome, 2260 real sq ft is a good size. I mean, there are lots of people in the US (and of course across the world) living in a lot less. And with all the parks and activities of LP I think the actual home space is less important. We could go with a larger place with our combined income, but I’d rather try to keep the mortgage relatively small to maintain financial flexibility … and the ability to pay $80,000 a year in inflation-adjusted dollars for tuition twenty years from now …
“I thought the IB and Double Honors programs were well regarded?”
Dunno enough about DH to comment, but IB is a citywide test in program, so it’s not so different from if you live anywhere else in the city.
“The vast majority had majors that are housed within the “liberal arts” tent.”
Yeah and also that the “liberals arts” degrees or majors are basically the equivalent of late 20th century home ec. (but less useful).
“Do you know many college educated, attractive women? I have news for you: very few have engineering, science or even finance educations. ”
Yes a few. If you were good at reading comprehension you would’ve read I wasn’t criticizing the much broader set of having degrees of dubious usefulness. I was criticizing the subset of that segment that gravitate towards what is essentially a useless profession (realtor).
Yeah there are some real good ones that post here, but given the lack of entrance requirements there’s a very high lemon to lemonade ratio among the Realtor(tm) set.
Calderon-
I looked at a lot of townhouses in LV and LP. This is on the high side of what I looked at, however. It is hardish to find decent 4 bedroom places. That said, I think your comps are really 3 bedrooms because the combined master/playroom is really more similar to a basement family room, which lots of townhouses in both communities have. If you run comps with 3 bedrooms plus basement family room, how does the price look then?
Prof,
The expression “let him hoist himself up on his own petard” comes to mind.
ha ha Bob, you are the best….
“Your attempts at insults scream straight out of a small liberal arts college freshman’s vernacular. Seriously is that all you can come up with?”
Usually these types think they are being oh-so “witty” using the term troglodyte interchangeably with neanderthal.
“Do you know why I like Telemundo and other spanish-speaking channels? Their culture hasn’t been invaded by uglies like you who try to shape society to pretend that appearances don’t matter. We don’t need no ugly quotas, prof. Stop attempting to continue to poison Anglo culture with your nonsense because you’re upset with the direction of YOUR life.”
Hispanic culture has a fetishization for blue eyes and fair hair—notoriously exemplified by the countless blonde bimbas seen on Univision. How about their blue-eyed anchor dude, Jorge Ramo$, who has conquistador bloodlines on both sides of this family?
“while I don’t want to comment specifically on what Bob said, I will say that the real estate business does seem to have a disproportionate share of attractive women.”
Take a look at the realtor for this subject posting!!
This site should not be about the attractiveness of women/men – however, I DO have to say that L.A. has a ridiculous amount/percentage of ridiculously gorgeous women. It is unbelievable/indescribable – and they are SO UNBELIEVABLY nice and talkative and interactive/inviting- I cannot believe it. My girlfriend has locked me out of the bedroom tonight for jealousy reasons and I am probably single again, but you guys really have to come out here to see for yourself. Oh, and the guys are extremely ridiculously good looking too – you women and gay/curious guys would not be disappointed at all. Actually, the great thing about L.A. is that the straight guys, stragiht girls, and gay guys/girels get along so ridiculously well that you can’t even tell who is who – and nobody judges or cares!!!!! I wish Chicago was like that!!!
Speaking of the L.A. Area – To get back to the original subject, this condo may find a buyer via “niche marketing” to movie-history buffs.
Why?
Because once upon a time this was a silent-movie studio, just like the more famous Essanay in Uptown and several loft conversions in the South Loop.
As for high school district, it would be Lane Tech for public. If you want Catholic schools there’s St. Ben’s (grade and high) or Gordon Tech high.
Lane Teh is selective enrollment. You have to test in.
Lane tech IS a test in school, the bottom of the test in. (Or is lincoln IB the bottom?) Lane is still a great school and darn good football team.
St Ben’s is a great elementary but I am still waiting for proof its high-school is above a decent cost hs.
Gordon tech, well they needed to go Coed cuz they weren’t pulling in enrollment numbers, hmmm wonder why when the economy was good at the time they did it. (That was sarcastic)
Decent cost hs = Decent CPS hs
Gordon wasn’t the only Catholic HS to go coed in the past decade or so. Parents of today’s teens are less inclined to see merit in single-sex schools than previous generations.
Interestingly, boys’ schools (like Gordon) have been more willing to go coed than girls’.
@Calderon:
“DZ — I haven’t looked at that one in particular, but did check out http://www.redfin.com/IL/Chicago/150-W-Eugenie-St-60614/unit-30/home/28436829 which I was pretty lukewarm about (have no idea how they get to 3300 sq ft on that one). For those properties you’re also looking at significant association fees, which has its upsides and downsides. The property you named does look interesting.”
Run screaming from this property. Welcome back to the 80’s and I think you’ll spend quite a bit of money just updating the place.
Then again if you really like it, I think the owners may be out of the place so you are in a better position to negotiate.
As a GT alum im pissed about them going coed………what took so long? Wish it was coed when I was there in the early 80’s! BTW is it still considered a good school? I don’t follow it at this point in my life. Just wondering.
Calderon: There aren’t a lot of properties right now in that price range in LP or Lakeview. Any thought of just waiting until next spring a surge of listings will come back on the market? You’ll have more to choose from and interest rates will likely be lower than even these record lows due to QE2.
Interesting…that’s the first I’ve heard of “QE2”. Just did some research on it. How will bonds continue to attract investment if rates fall further? Bonds are arguably a bubble market right now and if a sell off occurs interest rates will increase in turn. While the unprecedented drop in rates seems to imply rates will continue to fall, especially if the government tries to solve problems by printing more money or selling bonds, I don’t see how foreign governments will continue to hold an asset that offers no real return. Ultimately, bonds will be sold and that will just put more downward pressure on the dollar. My bet is that interest rates will be higher in the spring in spite of the QE2 announcement.
Correction…meant that the Fed will buy bonds in an attempt to infuse cash into the economy and try to push rates lower. I think the deflation risk is misguided and that we are more realistically faced with inflation in the near future. A rush on gold is tied into this.
QE2??? What the heck does a luxury ocean liner have to do with American real estate?
Jp3 – What, don’t you read the local Catholic New World newspaper – especially during Catholic Schools Week? You’d quickly be assured that ALL Catholic schools are great (incl. Gordon and St. Ben’s) and ALL Public schools are awful (incl. Lane and Lincoln Park). LOL
“Calderon: There aren’t a lot of properties right now in that price range in LP or Lakeview. Any thought of just waiting until next spring a surge of listings will come back on the market? You’ll have more to choose from and interest rates will likely be lower than even these record lows due to QE2.”
That’s probably what I’ll do. I was thinking there might be some deals now that we’re at the end of the selling season, but given that the consensus of analysts is that prices will keep falling for another year the best bet may just be to wait (while monitoring the area for any deals). I don’t have any real reason to have to buy a place now. I may end up making a relatively low offer on 2330 North Geneva, but given the characteristics of the seller HD describes s/he may not be willing to deal.
Calderon – I think your approach is reasonable, i.e., keep an eye out for deals but not to rush yourself. As many have noted previously on this website, the majority of listings are overpriced due to a variety of reasons. Every so often, a deal is listed and goes quickly. However, I would advise to not just focus on the low priced “deal” properties…they tend to generate so much interest that they can often cease being deals by the time they close. Rather, I would focus on estate sales…though there aren’t a ton of these. You can actually setup the MLS to search for this term in the remarks section. Anyway, estate sale properties may or may not be priced low but they are typically very flexible on price. I was patiently waiting for a deal and found an estate sale home recently that I bid on about 30% below list. We’re getting it now at about 22% below list and about 20% below current market price for the area. As others mentioned, don’t be afraid to bid aggressively and, whenever possible, back up the bid with hard data, especially comps that support your price.