“Bored By Modern $2M Box Construction?” 1137 N. Hoyne in the Ukranian Village
This vintage 2-flat at 1137 N. Hoyne in the Ukranian Village has been on and off the market for nearly 3 years.
In that time, it has been reduced $600,000.
Built in 1885 on a corner lot measuring 48×104, it has had some of its mechanicals updated including electric.
Many of the vintage features remain including stained glass windows, 2 working fireplaces, original molding, plaster medallions and inlaid hardwood floors.
It has 2 kitchens and a 2-car garage.
The property also has a unique feature of a bridge that connects the house to the studio/attic space of the garage.
The listing implies you could get a gorgeous vintage home if you “do it yourself” (i.e. the renovation).
At what price will someone be willing to take this on?
William Ryerson Jr. at Lake View Realty has the listing. See the pictures here.
Also see a great 2 minute You Tube video describing the vintage features here.
1137 N. Hoyne: 4 bedrooms, 3 baths, 2-flat, 2 car garage, 3022 square feet
- Last sold sometimes before 1986
- Originally listed in April 2009 for $1.85 million
- Reduced several times
- Currently listed for $1.25 million
- Taxes of $8006
- Central Air
- Bedroom #1: 13×12 (second floor)
- Bedroom #2: 11×12 (second floor)
- Bedroom #3: 13×12 (main floor)
- Bedroom #4: 12×11 (main floor)
it’s a pretty cool building for sure
Love the typo in the first sentence of the listing. Photos equally laughable. If you think your property is worth over 1M you think you’d list with someone more professional who could supply quality photographs. Also, how hard is it to take level photos?!
I wonder how old that dishwasher is…
sink between the 2 closets is a nice touch. in case you need to wash your hands going from one closet to the next
I would think a million dollar home would merit more than 7 photos.
I think this property is actually amazing, I love truly irreplaceable buildings like this, but the price point is just way off for this neighborhood. I feel like the property might be worth around 900k-1mm AFTER a thorough rehab IF that. Assume 250K at a minimum to do this one. Makes me think this might be a decent deal @around 650 at the most. People generally want a little incentive for the inconvenience of doing the rehab so maybe more like 550K.
“I feel like the property might be worth around 900k-1mm AFTER a thorough rehab IF that.”
I think that’s wicked conservative, based in part on this recent sale:
http://www.redfin.com/IL/Chicago/2141-W-Le-Moyne-St-60622/home/14108493
But this: “Assume 250K at a minimum to do this one.” could only be possible if you did most of the work yourself, if you want to end up with something comparable (tho preferably more restoration rather than the lemoyne modernization) at all. Doing this one right would probably come close to $500k.
re: 2141 Le Moyne
Maybe others would disagree with me but i think that location is at least 100 grand better. Seems like the perfect distance from the North & Damen intersection (very close but not in a disturbing the peace sort of way.)
“i think that location is at least 100 grand better”
So, you value being across the alley from public housing?
As has been discussed in the past, I think the wider lot is preferable to the deeper lot.
This is a very good neigborhood. Sure being more central to Wicker Park may be better, but many famlies prefer Ukranian Village, less condos and more single family homes. The corner lot is amazing. This isnt ever going to go to $550K-$600K, that is ridiculous. Why is this blog so addicting, when most people are such idiots? Sure, $1.25MM is high, but even mentioning $550K is laughable. You have obviously never walked around on Hoyne. As a tear down, which i hope this house never becomes, it would still be more than $550K.
“Sure, $1.25MM is high, but even mentioning $550K is laughable.”
Is $550K more laughable than the current $1.25MM ask (or the original $1.85MM ask)?
^ well it seems as though while there used to be lots of 2 million dollar new construction modern homes selling in the general area, that hasn’t been happening for a long time. Perhaps I’m wrong about that. This house is only 3000 sq ft so its not huge.
BTW the one thing I love about this area as compared to Lincoln Park or SoPo is that the new construction is actually nice and progressive. Totally enhances the feel of the area IMO.
I would be very suprised if this house goes for less than $900K. So I guess the $1.85 is more laughable than $550K, but $1.25MM is a solid try by the seller.
The property is unique — no question. But it needs a ton of work. It is currently a 2-flat, not a single family. Honestly, I don’t see how this price makes any sense at all. It would never get to $550k, but I think the $900k – $800k price point is much more realistic. Of course it only takese one person with the means to fall in love with the vintage character of the property. Maybe 3 years ago.
So is this a classic case of the buyer who can afford this house, doesn’t want to live in this neighborhood and the buyer who wants to live in this neighborhood, cannot afford this house?
“I would be very suprised if this house goes for less than $900K. So I guess the $1.85 is more laughable than $550K, but $1.25MM is a solid try by the seller.”
“but $1.25MM is a solid try by the seller”
Curbed picked it up *last* January when it was also on at $1.25m:
http://chicago.curbed.com/archives/2011/01/06/a-victorian-mansion-on-hoyne-this-time-in-the-ukrainian-village.php
I think they need to try something else, if they want to sell.
“This house is only 3000 sq ft so its not huge”
Those “5000” sf houses you may be comparing it to all (ok, almost all) count some below-grade space in that total. Doing that here, and then counting the coachhouse space, gets one awfully close to 5000.
listings like this are why nobody respects the realtard profession
“I would be very suprised if this house goes for less than $900K.”
Is there anything in the area to support something like $1.5-1.6MM for this place in fully finished condition? I could see that (incl the xtra large lot) in wicker park maybe (though the reno to get there might be exceed $500K). Seems pricey for this location. $900K seemed plausible, maybe even less. Don’t know the area around here other than walking around.
“Is there anything in the area to support something like $1.5-1.6MM for this place in fully finished condition?”
What sort of 3,000 sq ft / 4 bed SFH can one get for $1.6 mm in say, Lake View? Lincoln Sq? Bucktown? How about Oak Park or Evanston? LP or Wilmette? I think $1.6 mm gets one a pretty nice 4 bed in all of those places right now. Is there something happening in UV that is attracting small families in the $1.5 mm + range?
I agree $550k is off base, but I highly doubt this house can find even a vintage lover that is dying to do the renovation at over $1M. Time to bite the bullet and list at a realistic price. I bet if they reduced to $990k they’d have a LOT more showings.
Quick question for everyone… what other examples can you find in the city of Chicago that rival this property in terms of neigborhood/architecture/coach house/lot/finish/price? I have not been hounding the MLS, but I can’t imagine there are too many out there on the market.
The location (not next to public housing), the architecture (this is A+ Victorian style) and lot beats out the Le Monye property… and even that one looks like a great property.
So what in the city can compare to this? Hell, if I had $1.5mm to spend on a home this would have to be on the shortest of short lists.
“What sort of 3,000 sq ft / 4 bed SFH can one get for $1.6 mm in say, Lake View? Lincoln Sq? Bucktown?”
There’s this in wicker park at $1.2MM on a smaller lot (and I assume including basement space in sqftage).
http://www.redfin.com/IL/Chicago/1829-W-Evergreen-Ave-60622/home/14107754
This place is lovely but I agree with what Sabrina often says about people wanting new. I am not sure that many people have the energy or the cash to renovate especially in a not so hot neighborhood.
This might be what is preventing this lovely place from selling.
dude, neither of these is right on point, but a little bit similar.
1956 W. Evergreen: completely rehabbed, coach house, deep (but standard-width) lot, far superior location, sold for $1.25. http://www.urbanrealestate.com/property/1956-W-Evergreen-CHICAGO-IL-60622-U4GU5QVBAINCO.html
2155 W. Caton: excellent original details but needed a lot of work (no kitchen, needed all new bathrooms), no coach house, short wide lot, superior location, sold for $920. http://www.urbanrealestate.com/property/2155-W-Caton-CHICAGO-IL-60647-W6KRJEZSRJA72.html
“There’s this in wicker park at $1.2MM on a smaller lot (and I assume including basement space in sqftage).”
Great place, but doesn’t even come close to the subject property imo.
“especially in a not so hot neighborhood.”
Huh? Since when is Damen/Division not a good neighborhood?
I said not so hot. I never said it is not a good neighborhood.
“I said not so hot. I never said it is not a good neighborhood.”
I think every native-speaking midwesterner would take “not so hot” to mean “not good”, tho probably not “bad”.
“I said not so hot. I never said it is not a good neighborhood.”
This is Crib Chatter where anything you post can be re-interpreted against you at any time!
Division between Damen and Ashland is hot right now
calyx, that home on Evergreen is a personal favorite of mine. Whoever bought it this past March got a deal… good comp, albeit the lot and architecture (if high victorian is your thing) is just a notch behind 1137 Hoyne, same can be said about the place on Canton (also close to the El tracks).
Good comps though… all really great properties.
this house needs a full rehab. new kitchen and baths, new floorplan, the works. it needs at LEAST 500K to rehab it to a SFH, which it is a good size for. I walked through it last year. great spot. very overpriced to sell it as is.
Interesting. I guess it is like when they ask each other how are you and every one responds fantastic, great, etc… while they are actually depressed, popping pills, and are going through a divorce ; )
But seriously, to me not too hot just means it is not LP or GC. “Not a good neighborhood” to me implies somewhere unsafe.
“I think every native-speaking midwesterner would take “not so hot” to mean “not good”, tho probably not “bad”.”
Historical fun facts: I believe this location was part of “Beer Barrel Row” back in the 19th Century when German immigrant brewers, discriminated-against and shut out of the “better” neighborhoods, created their own ethnic enclave within easy distance of Milwaukee Ave.
1956 W. Evergreen is next door to legendary Chicago author Nelson Algren’s last Chicago residence – third floor apt. at 1958. He paid very little for monthly rent in the 1970’s. There’s a marker on the front wall and also the front yard. A lesson in property values and “changing neighborhoods” in a nutshell.
(Recommended reading: 60th anniverary edition of “City on the Make.”)
“I believe this location was part of “Beer Barrel Row” back in the 19th Century when German immigrant brewers”
Beer Baron.
“Division between Damen and Ashland is hot right now”
Nelson Algren used to rip on the dumpy Ashland/Division/Milwaukee intersection, it’s still a craphole, a great place for some Columbia College student to take black & white photos of urban degenerates, dysgenic losers, etc. for some artsy steiglitz-type project. Nelson Algren is commemorated with a plaque and a fountain at Division and Ashland, but the deadbeats and bums and 80 IQ 260lb. dim-witted youngish monsters shuffling around aimlessly wearing hoodies etc…..they probably don’t even notice it under all that pigeon dung.
I’m still amazed that so many bars and restaurants on Division btw Damen and Division are still in business during this recession. How many could possibly be needed? Apparently all of them still. There must be 25 establishments in that stretch.
@helmethofer I love that intersection despite its somewhat “edgy” feel. Furthermore after the CVS renovation (if you haven’t seen it you should definitely check it out http://oururbantimes.com/business-news/new-cvs-pharmacy-opens-old-wicker-park-bank) and the planned 11 story highrise where the pizza hut used to be (http://news.eastvillagechicago.org/2011/12/11-story-plan-at-pizza-hut-site.html) it is definitely looking up. It’s getting significantly less seedy all the time.
Worth looking at Art Shay’s vintage photos of Wicker Park/Chicago. He was a friend of Nelson Algren’s and documented poverty in Chicago.
Well, that strip used to be called “Polish Broadway” and in the last decade or so it morphed into “Yuppie/Urban Hipster Broadway.”
One of the few remnants of the old ‘hood, the Polish Czar Bar, remains abandoned even as its neighbors thrive. Maybe it’s haunted with Nelson’s “hepghosts…haunting winter ballparks and locked bars.”
“I’m still amazed that so many bars and restaurants on Division btw Damen and Division are still in business during this recession. How many could possibly be needed? Apparently all of them still. There must be 25 establishments in that stretch.”
helmethofer: you really don’t get it. Ukranian Village- including that stretch of Division- is one of the hottest neighborhoods in the city right now. In fact, dare I say it, but prices appear to be holding up much better than Lakeview and some other areas (but that is just from my own observation.) The real “deals” don’t start happening until much further west (almost east humboldt park.) You’re still paying $350k to $450k for a decent 2/2 in this area.
No offense- but it’s not what it used to be and it’s not going back to that. Take a walk on Division any Saturday afternoon. It’s crowded with people (especially in the summer) enjoying those restaurants. It’s a much livelier street than, say, Southport, which has seen a lot of restaurant and store closings due to the recession. Or even Armitage (same thing- lots of closings.)
“One of the few remnants of the old ‘hood, the Polish Czar Bar”
Ceased being a remnant of the old hood LONG before it closed. Was seriously one of the places on the cutting edge of the change to Urban Hipster Broadway.
“helmethofer: you really don’t get it.”
Sabrina: are you forgetting Dan’s disdain for “those people”, too? The complaints here are a total rehash.
” the Polish Czar Bar, remains abandoned”
The story I heard (how true I don’t know) was that the owner is intentionally leaving this bar as a blight on hot Division street as a sort of FU to the city. He got hit a few times for serving underage drinkers and was (is?) ticked off about it.
Apparently somebody that does not need the money. It’s a shame really. Be nice to see it open back up.