English Bungalow With An Easy Commute: 2032 N. Oak Park in Galewood
We’ve chattered about the Galewood community several times before. Galewood is on the far west side of the city, near Oak Park.
The neighborhood consists mainly of smaller single family homes such as this English style 1950s 3-bedroom bungalow at 2032 N. Oak Park.
Worried about the commute?
It is about two blocks from the Mars Metra Station and a 20 minute train ride to the Loop. And yes, that’s the Mars Candy Factory right across the street if you’re looking at it on Google Maps (and for which the train stop is named.)
This bungalow has central air and a finished basement with its own gas fireplace.
Art Collazo and Michelle Orton Loftus at Koenig & Strey have the listing. See more pictures here.
2032 N. Oak Park: 3 bedrooms, 3 baths, no square footage listed 1.5 car garage
- Sold in August 1995 for $116,500
- Sold in July 2002 for $235,000
- Sold in July 2007 for $348,000
- Currently listed for $369,000
- Taxes of $3045
- Central Air
- Finished basement with gas fireplace and dry bar
- Bedroom #1: 30×15
- Bedroom #2: 11×9
- Bedroom #3: 12×9
i’d pay 250 for this. is the fridge blocking a doorway, though?
Cool bathroom! Yeah I’m sure the average family in Galewood is lining up for 370k mortgages…next.
No counter-top space with those sinks. Where am I going to leave my razor/deodorant/toothpaste/toothbrush out for a mess?
It’s a nice looking place; updated, finished basement, master bed upstairs, nice floors, nice area…..$369 is like a bad offensive joke. Look at the appreciation between 2002-2007: About 50% in 5 years. Ridiculous. We’ve got a long way back down.
‘Look at the appreciation between 2002-2007: About 50% in 5 years. Ridiculous. ”
Not to defend the pricing, but it’s pretty clear that teh re-hab took palce b/t the 02 sale and the 07 sale. $113k more–what do we think they spent on the work? $50k? More? Yes, the expectation should be only 50-75% back, but it does look like they added a lot of usable living space and at least one bathroom, which is like a category shift in addition to cost, so higher side % return would be reasonable.
Current listing price is enough to break even after transaction costs, assuming ~6% broker fee. They overpaid by about $50k, should be happy to get out at ~$325k.
anon – thank you for adding a little nuance to the commentary (rather than making the same comment for over and over again for ever single property).
It’s a nice place despite the massive appreciation in such a short period. Is it me or is the fridge in front of a window?
a-
what do you call that 4 inch wide countertop near the wall in the BR (see where the soap is)? how big is your toothbrush/razor?
how do you know the rehab didn’t happen between ’07 and now? the owner might be cutting his losses.
“how do you know the rehab didn’t happen between ‘07 and now? the owner might be cutting his losses.”
Because the person who picked out those finishes isn’t the same person who picked out that furniture.
“how do you know the rehab didn’t happen between ‘07 and now? the owner might be cutting his losses.”
For that matter, how do we know that the 07 sale wasn’t a money laundering transaction with a $100k kickback to the buyer? You can play the “how do we know” game all day with every one of these properties. Occam’s razor sez that the (bulk of the) re-hab happened b/t 02 and 07.
Also, what condoshopper said.
People criticize the south loop, which has gotten significantly safer over the last 10 or 15 years, and nobody has a word to say about Armitage and Oak Park?
For those of you unfamiliar with this area, you definitely need to look at crime trends over the last 10 or 15 years to gauge the risks here! Its in the 25th police district.
I’ve driven that stretch of oak park and it’s pretty nice; I can’t vouch for the crime but the street is beautiful
I like that bathroom sink, but wish there was a countertop space around the two sinks. would be an amazing bathroom if not for the ceilings although the skylight is a nice touch.
This is a 125k house in Cincinnati. Why is it 375k? A 250k premium to live in Chicago? Are incomes in Chicago 3x what they are in Chicago?
LOL! LOLOL!
I can see downtown pricing having a premium to places like Cincinnati and Indianapolis as you can’t replicate the Chicago downtown experience. But for these outer ring city neighborhoods they can indeed be replicated, 100%, cloned a lot easier than Dolly the sheep. This address has a walkability score of 60, not that impressive.
City address? Maybe. City feel? Well lets see the closest commercial establishments: Aldi, Applebees and Starbucks a half mile away and a movie theater a mile away.
Yeah if I’m going to live an Applebees, Aldi, Starbucks and movie theater experience in life I’m going to take the 125k version in Cincinnati.
Bob, the house has clearly been rehabbed? That explains the price!
“This is a 125k house in Cincinnati. Why is it 375k? A 250k premium to live in Chicago? Are incomes in Chicago 3x what they are in [Cincy]?”
1. No one would be stupid enough to put that $20k bathroom into a $100k house in Cincy.
2. The house itself isn’t being upcharged much; it’s the land. The Cincy city lot is “worth” maybe $20k. This house prices in $150k-200k for the land. Why? Because buildable lots in LP sold for $1mm; lots in North Center/BT/wherever sold for $600k; this can’t possibly be worth *that* much less? (Of course, the answer is, yes, yes it can be worth *that* much less.)
3. Estimated median household income-2007: Chicago = $45,505 –Cincy = $33,006. So, 38% higher.
4. But then you’d be living in Cincinnati.
Walkscore of 60? Lol that’s terrible! May as well live in Schamuburg right?
“Walkscore of 60? Lol that’s terrible! May as well live in Schamuburg right?”
Funny thing–I picked a random (expensive) Schaumburg house currently for sale (1409 Logan St.–$878,900) and it’s walk score is:
60!
anon(tfo),
It doesn’t matter whether you’re living in Cincy or Oak Park, you’re still eating at Applebees, sipping latte at Starbucks, shopping at Aldi, watching the same movies at the cinema and driving everywhere. You’re lifestyle is essentially the same. You might as well live in Cincinnati vs. Oak Park is my point and either save money or live in a large estate.
Yeah Sonies but in Schaumburg you can get more square footage than this and lets not forget about the quality of the schools in Schaumburg vs. CPS.
This property is an epic fail at their ask pricepoint. 250k tops and even that is being generous.
“Funny thing–I picked a random (expensive) Schaumburg house currently for sale (1409 Logan St.–$878,900) and it’s walk score is:
60!”
No freakin way! I just randomly said that without even bothering to look! lol!
Oh, and BB, don’t mention it. Although this place wouldn’t be the same without the one-noters.
Bob–the only lifestyle note I made was a (I thought obvious) joke. I don’t disagree in any meaningful way on lifestyle issues; you’ll note I regularly defend raising a family in the city.
“It doesn’t matter whether you’re living in Cincy or Oak Park, you’re still eating at Applebees, sipping latte at Starbucks, shopping at Aldi, watching the same movies at the cinema and driving everywhere.”
Altho you’ve got “me” (I know, not me, but a person) all wrong on this–
Applebees–NO
Starbucks–Not if there’s an alternative (Peet’s, if possible)
Aldi–Never been in one
Same Movies–they have an indy film theater in Cincy?
Driving–guilty.
“This is a 125k house in Cincinnati. Why is it 375k? A 250k premium to live in Chicago? Are incomes in Chicago 3x what they are in [Cincy]?”
having grown up in cincy and living in chicago for the past 4 years, I would take the place in Oak Park over having to live in Southern Ohio ever again.
nsarch,
Yeah I moved here around that same time period from there, maybe our Uhauls passed each other on the way up. Honestly though I’d take Cincy over Oak Park, not that I’m ever moving back or to Oak Park for that matter, but when you’re comparing two similar lifestyles its a numbers game then.
I guess for people who consider themselves “politically progressive” maybe I could see your position although it still doesn’t make sense to me. But you’re willingness to spend 3x on housing for a comparable lifestyle I can’t quite grasp.
If I’m gonna go the indistinguishable suburb/outer hood route it really doesn’t matter to me which city it is centered on, quite honestly (well no further north than here though). Suburban & semi-suburban life is largely the same wherever you go (weather not withstanding in some instances).
I’d be willing to bet the people of Oak Park are probably about as educated and sophisticated (or lack thereof) as Cincinnatians.
“I’d be willing to bet the people of Oak Park are probably about as educated and sophisticated (or lack thereof) as Cincinnatians.”
C’mon, Bob, you’re conflating Cincinnati and some of it’s ‘burbs. The comparison b/t Oak Park and Cincy is hugely unfair to Cincy. The easiest stat to find is median incomes:
OP: Household: $74,614; Family: $103,840
Cincy: Household: $29,493; Family: $37,543
That’s not representaitve of an “about as educated” population.
If you’re comparing the top 50,000 Cincy residents to OP (pop ~= 50,000), you’re probably right, but that’s not a fair comparison–using that logic, I can say that Omaha is a much, much wealthier city than New York–so long as you only consider the #1 person in each city.
Okay fine maybe an unfair comparison. But the walkability score and the amenities you can walk to in Oak Park are basically the cultural institutions of Cincinnati, where on Sundays families don’t wear their sweatpants to Applebees.
😀
“But the walkability score and the amenities you can walk to in Oak Park”
You haven’t been to Oak Park, have you? Or maybe you’ve driven past. Walkability score for a (really expensive) for sale house in central OP: 88. Now, there aren’t $375k houses in central OP, but they aren’t 1.5 story over-remodeled cottages either. Even the (former) neighborhood of some friends–that I considered too out of the way by OP standards–has a walk score of 78; and there are sub-$400k houses there that are bigger and have larger yards than this Chicago bungalow (on Oak Park Avenue).
Oak Park has two el lines, Metra and the Eisenhower running right through it. It has a better than acceptable school district that’s exclusively for OP and neighboring River Forest. On the down side are the high taxes to support that school district and the “people’s republic” attitude about many issues.
I hear what you’re saying, Bob, but OP isn’t anything like the best example.
1) Galewood isn’t oak park. Close but still not oak park.
2) Austin is also close to oak park. What’s the median income there?
3) Bob does have a point that in day to day living most middle-class suburbs are the same absent topography and architecture. You drive to the same stores on the same wide roads and work in the same style office buildings for the same companies, yada yada yada.
4) He’s also right that it’s cheaper to live in cincy and if he were to live a strictly suburban lifestyle he would go there.
5) the difference however is that the suburbs of chicago have…well…chicago. Cincy can’t even compare to chicago.
6) that being said, many suburbanites I know despise the city and rarely if ever travel into it. i don’t know if the same can be said about cincy suburbanites.
If we’re interested in the educated parts of southern OH I’ll plug Athens. Cheap! Walkable! Good school! Hillbillies and hippies… diversity! Ruby Tuesday’s, but no Applebee’s.
I moved to Chicago from the A-Hole for college (class of ’98)…. Renting downtown now, but as RE prices slide and my wife and I think about kids, I mos def have my eye on OP.
I would have to agree with homedelete in the fact that the biggest factor is that Oak Park has Chicago a short distance away. Also Oak Park has a great school district. A tendy neighborhood in Cincy, lets say Hyde Park or Mt. Lookout…those areas you will pay a premium that isn’t consistent with the avg. home prices in other parts of the city. You will also have to send your kids to private schools because it is Cincinnati public. Put that into the equation and you aren’t far off of the Oak Park price. I have several friends, and family for that matter who live in Cincy Hyde Park and paid 300k or more for a 3 bedroom “typical” of that area. Move out to Mason for example and you would be able to purchase a 4 Bedroom McMansion on a culdesac–if that’s your thing.
I guess what I’m getting as is even though Oak Park isn’t metro Chicago, you have Chicago at your fingertips w/ ample cultural events and the lake. Cincy leaves you w/ what? shootings on fountain square, an underutilized city that is desolate after 5 and on weekends? If I had to live in cincy I would pay the premium to live in an area where I could walk to restuarants and shops and I would have a home similar to the one listed.
for comparison sake: listing in cincy Hyde Park
http://www.sibcycline.com/viewlisting.asp?mls=1155108&b=CIN&p=RESI&s=SFRD&m=1&sender=SearchResults&a=3063-Portsmouth-Ave-Hyde-Park-OH-45208
“in day to day living most middle-class suburbs are the same”
And OP isn’t really a middle class suburb. It ain’t Kenilworth, but it’s not (take your pick) either.
Not sure what your point was with the rest, HD; esp. the median incomes of Chicago ‘hoods. That there are poor areas nearby? If so, OOOOOOOOOOOH, Scary!
“listing in cincy Hyde Park”
That’s actually a pretty good comp, except that it’s in a desireable area (taking your word for it–I know *nothing* about Cincy). Plus a bigger lot and a nicer kitchen, minus 1.5 bathrooms and nicer bathrooms, which seems pretty close to a wash, value wise. But the neighborhood difference is (presumably) **huge**.
“listing in cincy Hyde Park”
anon,
I feel it is a decent comp…and the point I am getting at is to have any sort of “urban” lifestyle you would have to live in an area such as this, where ironically you will pay a premium. Even then you only have downtown cincy close by that offers absolutely nothing. So if I were to choose this home for 340k in a nice neighborhood w/ suburban amenities, or the “oak park” home w/ Chicago close by, I would choose Oak Park.
Oak Park has some pretty sketchy areas; it’s not all frank lloyd wright you know.
“Oak Park has some pretty sketchy areas; it’s not all frank lloyd wright you know.”
And … ?
“the “oak park” home w/ Chicago close by, I would choose Oak Park”
Someone’s going to point out that the home in this post isn’t OP, but Chicago, and notwithstanding HD’s point just above, you’d much, much rather have the same house in OP than across the street in Chicago–even tho you might choke on the tax difference (which is approximately +50% to double Chicago taxes).
I really think that there is no reason to buy in OP if you don’t have kids (or future kids) to send to school, unless you’re buying one of the really big houses (which are special), but then an extra 10-15k a year in taxes isn’t going to crimp your style.
Hyde Park Cincinnati is one of the few neighborhoods in Cincy that commands premiums. Why I’m not exactly sure other than that every transplanted yup must be told by their relocation specialist that if they are a yup and still single they MUST live there. I’m not exactly sure why. Unless you live in close proximity to HP square you can’t walk anywhere but a few strip malls. Oh wow here you can walk to two big strip malls (which you have to cross intersections that aren’t pedestrian friendly) and live next to some train tracks!
Its nothing more than a bunch of over-glorified old housing stock. In most of the rest of Cincy you can get 3x the size of this house in an equally safe area.
Hyde Park Cincinnati is like Cincy’s attempt at LV or LP except with strip malls instead of boutiques and vastly reduced walkability, oh yeah nightlife sucks too, you need to drive or cab places for that. Walk score here is 71 and it only has a 1 car garage.
You can get an equivalent walkscore in Cincy for 200k with a 2 car garage if you’re willing to give up the HP ‘hood name. Its an unfair comparison because HP is considered the ‘creme de la creme’ hood for many in Cincy but Oak Park isn’t here in Chicago. And even in Oak Park you still can walk to more things than this Cincy address.
“Its an unfair comparison because HP is considered the ‘creme de la creme’ hood for many in Cincy but Oak Park isn’t here in Chicago”
I disagree. Yes, you pay for its trendiness, but in my opinion it certainly isn’t a “creme de la creme” neighborhood…that would be Indian Hill.
All I was getting at is that in Cincy you can pay equally as much and actually be further away from everything else. If you are comparing the typical suburban homes of West Chester, then yes you will get a lot for your money. But those neighborhoods wouldn’t be comparable to Oak Park either—they have 0 character and are a bunch of the same floor plan homes w/ vinyl siding and a community pool…..not bad, just not my thing. If you want a chicago equivalent, you would have to look at Bollingbrook or something like that, not Oak Park.
Sabrina, it’s time to review Oak Park, and whether the price premium, the extremely high real estate taxes for troubled municipal services (no salt this winter for instance) and schools with drooping ISAT scores and inner-city discipline issues (gang girl fights in the cafeteria?). Oak Park has a boat-load of architects, most of whom can’t afford the nicer architect-designed homes of architectural integrity and/or interest. And certainly can’t afford the FLW.
There’s a certain cachet saying you live in Oak Park or River Forest that you don’t get from saying you live in Chicago. Whether it’s warranted, I don’t know. But it is a smaller community with strong community ties and parishes/churches.
enough of this ohio crap please.
anyone know what the area is like? is it one of those quasi-suburban neighborhoods, like up in the far northwest side?
I agree – enough of this ohio stuff….who give a shit about assfuck, USA this forum is about chicago
and yeah this area is quasi-suburban – with the exception of the candy factory which kills even that. great house. wrong street to spend the money doing the super cute renovation, tho
“Sabrina, it’s time to review Oak Park, and whether the price premium, the extremely high real estate taxes for troubled municipal services (no salt this winter for instance) and schools with drooping ISAT scores and inner-city discipline issues (gang girl fights in the cafeteria?).”
Architect: I rarely talk about anything in the suburbs (with the exception of a few times having compared a house in the city with something on the North Shore.) This is a Chicago housing blog so I’m not going to cover the suburbs (though I get asked to do so all the time.)
There’s simply too much going on in the suburbs to do it justice. And, as I’ve said several times before, I’ve seen the prices dropping there much quicker than in the city.
homedelete,
“There’s a certain cachet saying you live in Oak Park or River Forest that you don’t get from saying you live in Chicago. Whether it’s warranted, I don’t know. But it is a smaller community with strong community ties and parishes/churches.”
Hopefully NOBODY selects his or her place to live based on the cachet of saying where you live. If my new condo were called “The Slums of Cabrini-Green” I wouldn’t care what people thought.
OK I’m from Cincinnati and I’m REALLY annoyed that we’re talking about Cincinnati in this forum.
The only relation between Cincinnati and Chicago that I can think of AND HOW IT RELATES TO THIS FORUM is that maybe someone from Cincinnati would be dumb enough to pay more than $199K for this house.
But then again Cincinnatians whine and cry when a parking garage costs more than $3/day so maybe not.
I like this house. The curb appeal is great and it looks like it was well maintained/ updated.
I don’t know how people got on the topic of comparing this property to homes in another city but it’s really not germane to the discussion.
The speculator finally realizes they aren’t making money: the ask has been cut to 349k. The question is…do they realize they’re going to lose a lot of money yet? Because they are.
Its not our fault they were dumb and paid 350k for this back in 2007.
IS it just me or am I missing the spring bounce? It seems subdued. same old tired inventory; not many sales or homes going under contract. It’s been a month and a half since the superbowl too.