Do You Have Vision? Multi-Unit Victorian Beauty at 1516 N. Mohawk in Old Town
The listing for this multi-unit Victorian property at 1516 N. Mohawk in Old Town says it needs to be gutted.
There are no interior pictures of the property but the outside reveals detailed vintage architectural details, including stained glass windows.
The property was built in 1888 and has 9 bedrooms, 6 baths and has a 2 car garage. There is 1500 square feet per floor and each has 10 foot ceilings. There is also a full basement.
It is zoned RM-5, FAR 2.2.
Does someone have the vision to restore this property to its grandeur?
Jane Domurot at Koenig & Strey has the listing. See the pictures here.
1516 N. Mohawk: 9 bedrooms, 6 baths, 2 car garage
- I couldn’t find an original sales price but sometime before 1990
- Originally listed in August 2009 for $835,000
- Reduced
- Currently listed for $725,000
- Taxes of $14,196
3 years ago this would be snatched up and gutted into 3, $400K+ ocndos. Today, not so much….
Yeah, we seem to beat this point to death, but this location isn’t even close to the nice part of Old Town, if it is old town at all. Unfortunately it is too close to the train, and the crime in this area is signifigant. It may be able to work as a rental.
On a separate note, IAR just released the sales data for Illinois and Chicago. Sales up 5.9% in the Chicago PMSA over last year. Finally back to 2007 levels, though I think it’s mostly government intervention – and at the lower end. If you are interested, see second graph on this page http://chicagohousingstats.com
if this isn’t the best part of old town, then it should go lower and become a good deal, but I am assume it remains on the market for a reason. Is close to trans and a park.
“if this isn’t the best part of old town, ”
Its probably the worst part of old town that isn’t in Cabrini…
still, its a significant property for chi’s history, better than 100 4+1’s.
looks like is too close to the train tracks
could you get a historic register on this or something? it would help lower the taxes 🙂
area aside,
i would love to see the place renovated! 725k plus the large cost to remodel the vintage details and the gut rehab. (sometimes gutting is cheaper that restoring)
lets see you could do two top units and duplex down the bottom unit what would rents be? could this be a good investment with the historic tax freeze (i think its seven years)?
how cool would it be to own this restored place? (OWN not live in)
“Do You Have Vision”
Yes. Of getting struck by an errant bullet from Cabrini.
With no interior photos, how decimated and chopped up could the insides be? Uninhabitable? why no photos inside?
“Its probably the worst part of old town that isn’t in Cabrini…”
Only because there’s the giant other block of public housing right in the middle of the neighborhood between Hudson and Sedgwick.
Oh, the memories of wandering around there at night trying to find the Noble Horse after getting off the train. In retrospect it probably wasn’t the best idea to whip out an iPhone to try and map it…
super cool building. how much more would it be worth on the other side of north ave?
“With no interior photos, how decimated and chopped up could the insides be? Uninhabitable? why no photos inside?”
Exactly. And if the interior vintage stuff is trashed this place doesn’t really even have historical interest going for it.
“With no interior photos, how decimated and chopped up could the insides be? Uninhabitable? why no photos inside?”
I found a reference in another listing to it having been a 6-flat. So, I’d say pretty chopped up.
Doesn’t really matter how chopped up the inside is because you would have to do some chopping on your own to redo the plumbing, electric and HVAC systems anyway. The exterior is beautiful.
brothel
“brothel”
A*Team,
if you wanted a brothel i will need to refer you to the place in china town i think it is now cheaper and its “Turn-Key” shape
If this same building was available in the better part of Old Town, it would probably be listed for over $1 million. Its price reflects the location.
Mohawk isn’t that bad a location, and I don’t think this is too close to the El. Beautiful exterior, and I would prefer to have someone restore the building instead of tearing it down.