From $30,000 to $289,000 in Two Months: 2311 N. Nagle in Belmont Cragin
This 5-bedroom vintage single family home at 2311 N. Nagle in Belmont Cragin recently came on the market.
In April 2011, it sold for just $30,000 but has since been rehabbed.
Formerly 4 bedrooms and 2 baths an in need of “extensive work”, the house now has 5 bedrooms and 3 baths in an open concept layout.
See the prior listing pictures here.
The kitchen has cherry cabinets, granite counter tops and stainless steel appliances.
The bathrooms are stone.
There are new hardwood floors.
The lower level has a finished family room and bedroom.
Built in 1922 on a 30×126 lot, it has central air and a 1-car garage.
Belmont Cragin has been hit hard by foreclosures.
Last July, the Tribune reported on the foreclosures gripping the neighborhood with one local pastor saying there were 7 or 8 foreclosures on every block.
See our prior chatter on the Belmont Cragin foreclosures here.
This house is just a few blocks from the Galewood metra stops for an easy downtown commute.
Can this neighborhood command this price for a rehabbed property?
George Ayling at Select a Fee has the listing. See the pictures here.
2311 N. Nagle: 5 bedrooms, 3 baths, 2500 square feet, 1 car garage
- I couldn’t find a prior sales price- maybe before 1987
- Sold in March 2010 for $23,000
- Originally listed in November 2010 for $84,900
- Reduced numerous times
- Sold in April 2011 for $30,000
- Re-listed in July 2011 for $289,000
- Taxes of $3152
- Central Air
- Bedroom #1: 17×16 (second floor)
- Bedroom #2: 20×12 (second floor)
- Bedroom #3: 10×10 (second floor)
- Bedroom #4: 10×10 (main floor)
- Bedroom #5: 14×10 (lower level)
- Family room: 22×10 (lower level)
WOW!
Simply amazing property. Quite the transformation. This is a SteAl. This will go quick. properties like this, on the northside, turnkey sfh for less than $400k go QUICK.
this is walking distance to everything you will ever need. Even a discount dance clothier (leo’s)
The house looks very good. Not the best location- it’s not really Belmont Cragin and it’s not really Galewood,I guess it’s more “Riis Park” and I don’t know how bad foreclosures have been in this immediate area, but the rehab was done pretty well.
wow is right. home depot finishes, but it all came together pretty nicely. and for $289 with some room to negotiate to make the buyer feel good. well done.
Let’s say someone puts down the FHA minimum on this (likely), who is going to pay as much as $2,000/month to live in this area?
I don’t know anything about the neighborhood. Do you guys like it? How diverse is it?
“I don’t know anything about the neighborhood. Do you guys like it? How diverse is it?”
galewood is one of the most diverse “middle-class” hood in the city. but this house is just outside galewood/montclare/bemont-cragin
Chris M – are you kidding? seriously, are you kidding? show me rentals (even in this area) of a place this size in this condition going for less than 2500. Again, you guys are absolutely clueless about pricing. Remember, just because you WISH something was cheaper (or think that it should be cheaper) doesn’t mean that it SHOULD be cheaper.
“I don’t know anything about the neighborhood. Do you guys like it? How diverse is it?”
it is very blue collar, middle class. Not too far from a metra station, but i believe the closed El is the Harlem Blue Line (please correct me on that one)?
“Let’s say someone puts down the FHA minimum on this (likely), who is going to pay as much as $2,000/month to live in this area?”
Chris M,
you and i both know that basement bedroom will end up an illegal, $600 a month rental, 30 days after closing. so its a 1200 a month home!
“close[st] El is the Harlem Blue Line (please correct me on that one)?”
Ridgeland Green, no?
“Ridgeland Green, no?”
yep CTA ‘gansette takes you there from wright college.
OK – and I am the one who is insulting? Come on, give me a break.
looks nice enough, no idea what the market bears that far west – is there strong demand for SFH for rentals & what would this rent for?
“OK – and I am the one who is insulting? Come on, give me a break.”
Per miumiu, you really have to go out of your way to annoy groove, and apparently you have.
Wow, this is amazing. A work of art. There is a truckload of money to be made in real estate. This guy just created $100k out of thin air in 3 months. more than doctors wages. USA! USA! USA! USA! USA!
“Per miumiu, you really have to go out of your way to annoy groove, and apparently you have.”
Yes, but also according to her, we are all ganging up on clio as a form of male bonding.
Oh yeah, and according to clio, we are exhibiting a mass psychosis by daring to point out his shortcomings.
“we are exhibiting a mass psychosis by daring to point out his shortcomings.”
He’s just mis-diagnosing as psychosis–it’s more like a mental Napoleon complex, as we are all clearly short on brains compared to him.
“we are exhibiting a mass psychosis by daring to point out his shortcomings.”
i think buying a lambo pointed out the short…….
man i need to leave work i am getting slap happy.
as mentioned above the Homedepot/Lowes special finishes have been done tasteful and neutral. if closing price is 260k even with the immediate area this is a great home for a “certain” family. the stucco always irks me.
skeptic,
These are the only 2 sfh rentals in Belmont/Cragin from the mls in the past year over $1500:
2101 N Narragansett Ave 5/26/10 $1700 (renovated lesser quality)
2923 N Mango Ave 10/1/10 $1650 (nice Tudor, groove will love that rental includes all utilities since they are paid by the owner occupying the basement)
“Per miumiu, you really have to go out of your way to annoy groove, and apparently you have.”
Per G, moomoo is a liar and evil hypocrite so I wouldn’t worry about her opinion.
I really hestited to make my argument, because I know this is Groove’s hood, but I really can’t see someone paying this much for this house when you could buy in a more convenient and/or desirable hood for the same or less. If you’re this far west, you might as well be in Oak Park or Galewood proper and have better schools and better transit access.
“the stucco always irks me.”
The only 3 houses to get $260K or more in B-C in the past year were much more attractive renovated brick bungalows.
“Per G, moomoo is a liar and evil hypocrite so I wouldn’t worry about her opinion.”
Well, you did lie again about me yesterday with your claim that I said you were the same person as clio. You also don’t seem to want to take credit for your claim that we are all ganging up on clio as a form of male bonding. What’s the matter?
“Per miumiu, you really have to go out of your way to annoy groove, and apparently you have.”
“Per G, moomoo is a liar and evil hypocrite so I wouldn’t worry about her opinion.”
You didn’t realize that the first quote was from DZ, moomoo?
thanks G. My gut is kinda with Chris on this one, but I’d be surprised if it doesn’t get picked up between Groove’s 260 and the ask, it’s not like it’s at Western & 130th.
“These are the only 2 sfh rentals in Belmont/Cragin from the mls in the past year over $1500:
2101 N Narragansett Ave 5/26/10 $1700 (renovated lesser quality)
2923 N Mango Ave 10/1/10 $1650 (nice Tudor, groove will love that rental includes all utilities since they are paid by the owner occupying the basement)”
“Again, you guys are absolutely clueless about pricing.”
No, I’m not clueless about pricing. I’m a real estate broker and have been in the business for more than 5 years. I’m on the MLS every day and am constantly reviewing listings. I would argue that I understand pricing quite well. For example, I recently put my Oak Park house on the market and had 25 showings and a contract within the first week. That doesn’t happen in today’s market unless you price something properly.
G you are right. You are always right. The damn evil moomoo will see the light perhaps one day.
Apparently the reading comp issues are spreading.
congrats, Chris
“You didn’t realize that the first quote was from DZ, moomoo?”
I did sir, was just pointing out that he should ignore comments of an evil hypocrite. I said per G in response not per you which meant I realize whose quote it was.
Oh and I stand my male bonding comment. Not saying Clio does not give the motivation though : )
Sales of 5+BD/3+BA homes in Belmont Cragin during last 12 months:
MLS # Status Street Number Compass Point Street Name Street Suffix Area Search Price # Rooms Bedrooms – All Levels Total Full/Half Baths
07606358 CLSD 4721 W MCLEAN AVE 8019 69000 13 5 3
07418243 CLSD 2105 N NAGLE 8019 85000 12 5+2 bsmt 3
07769652 CLSD 2319 N NATCHEZ AVE 8019 85000 8 6 3
07708693 CLSD 2104 N MERRIMAC AVE 8019 85100 8 5 4
07406980 CLSD 5408 W drummond PL 8019 100000 9 5 3
07587633 CLSD 2307 N MOODY AVE 8019 100000 8 5 3
07717005 CLSD 2526 N Luna AVE 8019 115000 9 6 3
07332548 CLSD 2539 N linder ST 8019 125000 10 6 4
07608456 CLSD 2839 N LINDER AVE 8019 125000 10 5 3
07558518 CLSD 2732 N MCVICKER AVE 8019 140000 11 7 3
07628200 CLSD 2352 N MOODY AVE 8019 140000 11 5 3.1
07581700 CLSD 4857 W Drummond PL 8019 150500 11 6 3
07673043 CLSD 2830 N MONITOR AVE 8019 160000 10 5 3
07108987 CLSD 2555 N AUSTIN AVE 8019 165000 11 5+2 bsmt 3
07662603 CLSD 2135 N MOODY AVE 8019 180000 10 6 3
07514224 CLSD 3122 N LUNA AVE 8019 186300 11 5 3
07686376 CLSD 2711 N MELVINA AVE 8019 187000 8 5 3
07750334 CLSD 3138 N KNOX AVE 8019 205000 11 6 3
07760525 CLSD 2741 N Menard AVE 8019 218000 11 5 3
07381749 CLSD 3101 N MONITOR AVE 8019 225000 9 5+1 bsmt 3
07666745 CLSD 5118 W Oakdale AVE 8019 233000 12 5 3.1
07751367 CLSD 5341 W Barry AVE 8019 239000 12 6 3
07671224 CLSD 4857 W DRUMMOND PL 8019 245500 12 6 3
07688269 CLSD 3129 N Major AVE 8019 300000 12 7 3
07612298 CLSD 4940 W George ST 8019 321000 10 5 3
Thanks, Roma. You know I’m a big booster of Oak Park and Evanston, but we decided to move back to our place in the city to save money since my wife left her job to stay home with baby. And irony of the situation is that her dream job recently became available and she interviewed for it this week, so if all goes well she may be starting a teaching gig at one of the very frequently discussed GZ schools this fall…
” her dream job recently became available and she interviewed for it this week,”
that is great. good luck to her!
Good luck Mrs M!
“For example, I recently put my Oak Park house on the market and had 25 showings and a contract within the first week. That doesn’t happen in today’s market unless you price something properly.”
Uhhh – yes it does – especially if you don’t know what your property is worth and you underprice it!!! Good grief, I could put my house on the market at 1 million tonight and guarantee I would get multiple offers by tomorrow night.
Yes, good luck to Mrs M as well, and welcome back to Chicago! Sabrina says it’s a great city with low cost of living and lots to offer 😉
(if Mrs M is an English teacher, she’s going to demand you fix the typo on your site’s header)
“if Mrs M is an English teacher, she’s going to demand you fix the typo on your site’s header”
Chris is just crowdsourcing. And good luck to Mrs M. Would be awesome.
And Chris, you’ll hopefully get to celebrate job and your return to LS at telegraph wine bar. I haven’t been but a certain (I don’t like spicy/funky but I’ll cook thai food anyway) 3 star michelin chef had nothing but positive tweet about it.
Chris M. is right. Why not just buy a bit farther west and have decent schools?
In general, why would you want to live so far west? Unless you’re a cop and required to live in the city, this area doesn’t make sense. It has none of the advantages of the city (convenience, night life, interesting stores), and none of the advantages of the suburbs (decent services, good schools).
All it has is cheap housing. Maybe that’s enough. I still think in a few years we’ll wonder why someone paid $260K for a house like this. Prices will be falling further in outlying neighborhoods like this.
Part of me wants to agree with Chris, but while you can find houses at this price in Oak Park, I doubt you could find a 5 bedroom/3 bath house this nice at this price in Oak Park. Maybe it isn’t overly overpriced.
“I did sir, was just pointing out that he should ignore comments of an evil hypocrite.”
Awww, don’t take it so seriously. It’s not like they would make a difference either way.
Also, congrats to you and Ms. M. Chris! 🙂
“(if Mrs M is an English teacher, she’s going to demand you fix the typo on your site’s header)”
Nope, she’s a French teacher.
And thanks for pointing out the typo 😉
“And Chris, you’ll hopefully get to celebrate job and your return to LS at telegraph wine bar. I haven’t been but a certain (I don’t like spicy/funky but I’ll cook thai food anyway) 3 star michelin chef had nothing but positive tweet about it.”
Looking forward to it! Didn’t realize yet another place opened up in our neighborhood. Isn’t Masada scheduled to open soon as well? One of my LS tenants and I built a chicken coop/run in the backyard during the last month or two, so I’m looking forward to seeing how that project works out as well once I get back.
“Uhhh – yes it does – especially if you don’t know what your property is worth and you underprice it!!! Good grief, I could put my house on the market at 1 million tonight and guarantee I would get multiple offers by tomorrow night.”
Well, Clio, I’m not trying to get into an argument with you. I will respect your view. This may sell near ask, but I think most buyers would be wise to consider other neighborhoods first at this price point. The house next to me in LS sold as an REO a year or two ago for about $40k after pipes burst during the winter (it was a dump to begin with), it was rehabbed, and the developer tried to sell for months at 10X his purchase price and it wouldn’t sell. It seems to be a similar situation here but in a much less hipster friendly hood.
“the developer tried to sell for months at 10X his purchase price and it wouldn’t sell. It seems to be a similar situation here but in a much less hipster friendly hood.”
But do you think your neighbor would sell with the same mark-up, rather than multiple? Price it at $299k, it sells fast, right?
Oh yeah, it would sell right away at $300k. It’s a 2-unit with each bringing in about $1,600/month.
“It’s a 2-unit with each bringing in about $1,600/month.”
If that’s for reals on rent, and they did a decent job on replacing stuff (is it mostly new inside?), then $$00k is pretty decent. I certainly wouldn’t let it go for less than ~$350 if I owned it, barring crisis.
mental napoleon, very nice, i would use that one if i could remember things.
My bad, they both bring in $1,525. Completely redone on the inside but the Tyvek and vinyl siding over asphalt on the exterior.
“Isn’t Masada scheduled to open soon as well?”
Sometime soon but haven’t heard much talk about it. California is my el stop but I’m a little oblivious and haven’t noticed what the storefront looks like lately.
“One of my LS tenants and I built a chicken coop/run in the backyard during the last month or two, so I’m looking forward to seeing how that project works out as well once I get back.”
I’ll look for your egg stand at farmers market. The shaved ice operation at market is pretty good btw. Ridiculous to pay $10 for a round of ice and sugar syrup, but totally worth it.
“Chris M. is right. Why not just buy a bit farther west and have decent schools?
In general, why would you want to live so far west? Unless you’re a cop and required to live in the city, this area doesn’t make sense. It has none of the advantages of the city (convenience, night life, interesting stores), and none of the advantages of the suburbs (decent services, good schools).”
Dan #deuce,
there are many reason to live out this way, just as their are many reasons you chose HP to live.
you are wrong on many points, as living over here is VERY convenient. we got everything we need over here and more (ok except a good public school). for night life it all depends what your looking for but always remember that oak park is under 5 minutes away.
and i can say without a doubt that we have way more interesting stores than LP (and your north shore hoods) and way more diverse ethnic stores too. Way more interesting neighbors.
and seriously not convenient here? really? do you understand where this house is located?
you can walk to everything one would need.
i will admit the better spot to be is across oak park ave and really closer to sayer ave.
but for 250k and 3k taxes i really dont know what you would expect? i mean if i bought a 70k house in bellwood and complained about the shytieness i should be slapped and kicked in the left gonad for whining.
Actually this guy as loads of room on the price.
The average selling price in the immediate area is $110/ft2. This is by far the largest home in the area and therefore is more expensive based on size. This guy is priced right for the neighborhood and will sell very close to asking.
Groove,
Thanks for the comments. I take your word that it’s a convenient neighborhood with interesting stores (and we don’t have too many interesting stores up on the North Shore, I admit).
“(and we don’t have too many interesting stores up on the North Shore, I admit).”
at times i would trade the stores i have for *your gang problems 😉
also i will admit its a pain getting to any expressway but really the places i need to go the roads are faster anyway.
“and i can say without a doubt that we have way more interesting stores than LP”
Yo Groove – good to see that your obsession with LP is still going strong!
“Yo Groove – good to see that your obsession with LP is still going strong!”
well since jon stopped posting sucktown fell off my radar. and it seems the chatterati have chosen LP as the benchmark for the golden standard.
so i work with what i got 😉
“Good luck Mrs M!”
Mrs. M was offered the dream job–French teacher at Lincoln Elem. But she was also offered another dream job–French teacher at Lane Tech. She decided to go with Lane Tech. Sorry, annony!
Is this under k yet?
congrats Chris M. Is your wife French or she learnt French in US?
“Is this under k yet?”
Too lazy to click the link to the listing?
Yes, with last list of $268,900.
ps:
If the listed SF is basically correct, that’s $100 psf for the structure, and $18.9k for the lot, with a free garage!
Miumiu: she’s not French, but she became fluent while living in Nice.
Place is by the old Brickyard and Riis Park. I can see this price if it was by Harlem or really in Galewood proper.
can someone tell me what happened to the old brickyard? i was there for the first time in 15+ years the other day. Is it strictly a strip mall now with no interconnection?
well, the next best thing after being French is speaking it : )