From Boarded Up to a Brand New Greystone Mansion in Kenwood: 4401 S. Berkeley
This 5-bedroom vintage greystone at 4401 S. Berekely has been through quite the transformation in the last year.
The house, built in 1893 with a limestone exterior, had been on the market since December 2006.
Originally listed in 2006 for $479,000 it finally sold in April 2010 for $150,000.
From the one picture in the old listing (which you can see on redfin if you have an account), it looked to be completely boarded up. It also did not have heat or air conditioning.
Now, it looks like a totally new house. None of the vintage interior features appear to remain, however.
The kitchen has white cabinets and upscale appliances such as a Viking stove.
The lower level has been turned into a 36×23 entertainment area.
There is an upper level family room with a balcony.
Built on a 30×115 lot, it has two car parking (I can’t tell if this is a garage or just spaces) and, yes, central air.
For the space, is this now a deal?
Belkis Muldoon at Urban Search has the listing. See the pictures here.
4401 S. Berkeley: 5 bedrooms, 5.5 baths, 5500 square feet, 2 car parking
- Sold in November 1989 for $60,000
- Lis pendens filed in August 2005
- Originally listed in December 2006 for $479,000
- Reduced numerous times
- Sold in April 2010 for $150,000
- Currently listed for $799,000
- Taxes of $1130
- Central Air
- Bedroom #1: 23×14 (second floor)
- Bedroom #2: 14×11 (second floor)
- Bedroom #3: 14×10 (second floor)
- Bedroom #4: 21×14 (third floor)
- Bedroom #5: 21×12 (third floor)
Uhhhh. That looks pretty darn cool – and at that price.
Great job. I am sure nothing was left of the original home for the most part and this is a great re-do though I am not sure the neighborhood will command the asking price yet. Most people who could afford this would choose the Woodlawn Historic Area.
This house is 3 blocks south of the Oakland Landmark District.
Median income in the area is like $45K.
Isn’t the blackstone library around here?
I may be wrong but from what I remember Kenwood is one of the ‘safer’ south side communities? right? Although i’m guessing private school for the kids would be a ‘must’ here. Probably an awesome house for a UChicago employee – beautiful job.
location location location…and this isn’t it
Three blocks north of 47th. I dare the people comenting on this place to walk/drive three blocks north of 47th. Lol.
This is the dangerous Southside that everyone talks about. I would need to have a death wish to flash this much money over here.
“I may be wrong but from what I remember Kenwood is one of the ’safer’ south side communities? right? Although i’m guessing private school for the kids would be a ‘must’ here. Probably an awesome house for a UChicago employee – beautiful job.”
Riz – once again, you are wrong (just as you were about North Shore vs. OB/Hinsdale). This is not the typical neighborhood that anyone from U of C would live in. This, however, WOULD be a great property for somebody with social ties to that neighborhood who made it “big”.
I remember this house from it’s boarded up years. In 2003, I would walk around here on Sunday mornings and explore. I never had a problem or was concerned. Granted it was Sunday mornings, so any “bad” people were likely still sleeping. I love the stretches of rowhouses on the north-south streets in this area.
I think the asking price for this place may be tough, since the neighborhood has no real neighborhood amenities – ie walkable neighborhood commerical.
For this price, I’m sure one could find a nice sizeable townhouse in a GZ neighborhood.
Sweeeeeeeet!!!!!
do you thin governor Quinn could sign a law so i could divorce my wife and marry this house?
“For this price, I’m sure one could find a nice sizeable townhouse in a GZ neighborhood.”
Not everyone is a sheep……..
Just throwing this out there, but wouldn’t this appeal to a current / former sox player? It would be less than 10 minutes to the park. This house is awesome and would fetch big bucks in any green zone hood.
North Kenwood is where President Obama lives (lived), and this home is a few blocks away. Of course you’ll need private schools, but don’t we need private schools for just about every neighborhood IN Chicago? The U of C Lab school is close, so it would the likely choice for someone spending $800K on the south side. Not everything centers around Lincoln Park and there are some great neighborhoods on the south side, like Hyde Park, Beverly, McKinley Park and yes, even north Kenwood. I don’t dispute that the south side has a higher crime rate, but it takes people like the buyer of this home to open others eyes about the possibilities of living on the south side and bringing a different dynamic to the community.
Mike – you may not follow baseball – but there are only like 60 home games and the players spend less than 1/3 of the year at “the park”. While they are away, I am sure they would rather have their family in a safe/secure neighborhood. BTW Frank Thomas has an AWESOME house down the street from me in OAK BROOK.
Can the seller promise that the taxes will remain the same?
“Riz – once again, you are wrong (just as you were about North Shore vs. OB/Hinsdale)”
I wasn’t sure about kenwood, i don’t spend much time on the Southside – All I know is that Obama lived closeby so i figured it was a decent part of kenwood. As far as northshore vs. OB/Hinsdale goes – you are still really wrong my friend. I Was talking to some attendings about this last night and they started laughing when i asked the possibility of their being more money in oakbrook vs. lake forest. Again clio, Exceptions don’t make rules.
Check the facts – Median income for a family in lake forest = 220k +
– Median income for a family in oakbrook = 150k.
How many 6+ million dollar properties for sale in oakbrook right now? 1
How many 10 million dollar properties for sale in lake forest? 10+
How many houses with lakefront in oakbrook? 0
lake forest – # 3 earning town on top 25 in terms of salary on CNN money. Oak brook doesn’t cut that list even.
I’m done debating this with you – your personal experiences and social connections don’t build up to facts. Anecdotes don’t make facts. if you are *truly* a physician and scientist you should know that.
We can agree to disagree. I don’t like being told i’m wrong ( when i’m not ) and I don’t like previously closed discussions being brought up again. it’s childish. I’m on the 27th hour of my 30 hour call and kind of grouchy. So excuse the backlash.
* 6 million dollar properties in lake forest, not 10, typo
clio – sheep maybe, but for $800K I’d like to be able to walk to a grocery store or an abundance of nice quality resturants, etc. Are the people that move to Hinsdale also sheep?
PS – I don’t include hinsdale in this. Hinsdale is a different beast altogether.
Not any more, Clio. He sold it when dealing with his messy divorce from wife Elise. And the new owner may have financial problems. Guess you don’t know everything about Oak Brook.
http://www.chicagorealestatedaily.com/article/20100505/CRED03/200038103/buyer-of-ballplayers-house-behind-the-count-on-warehouse-suit#axzz1DZFdhmBm
“BTW Frank Thomas has an AWESOME house down the street from me in OAK BROOK.”
“BTW Frank Thomas has an AWESOME house down the street from me in OAK BROOK.”
He sold that house – it was just off of 31st street, not far from trinity lakes and that dog kennel and church…You don’t live in trinity lakes do you, clio? not a fan of that subdivision.
Clio I’m well aware that baseball season is only 6 months long of which half the time they’re on the road. But many players have two houses if they are successful , one for the offseason / spring training and one for the regular season. It was just a suggestion for an awesome house they could easily afford. I’m surprised konerko and pierzynski live way out in palos park and buehrle lives in lemont. That is quite a haul after the game with traffic leaving the field.
The property is gorgeous but that area isn’t the safest. I have friends, who were lured to that area by the low $/sq ft, and they have stories of shootings, cars being broken into, etc. But at the same time, they really like the area because you get alot of bang for your buck. Whatever floats your boat.
“clio – sheep maybe, but for $800K I’d like to be able to walk to a grocery store or an abundance of nice quality resturants, etc”
you could still walk to a “store that has groceries” if you lived here.
but if equating 800k to being able to walk to something floats your boat then hey thats your thing.
but i would rather not spend 800k to get a 2/2 1300sqft condo in LP so i can walk to treasure island.
i would rather spend 800k on a 6000sqft mansion and drive to trader joes in the sloop in NO TRAFFIC AT ALL.
“i would rather spend 800k on a 6000sqft mansion and drive to trader joes in the sloop in NO TRAFFIC AT ALL.”
Me too. Will 800k buy 6000 sq feet in the solo today? I don’t think 800 – 1 mil will get more than 4k square feet in a decent part of solo..this is the best i saw :
http://www.realtor.com/realestateandhomes-detail/1600-South-Prairie-Unit-Th101_Chicago_IL_60616_M85168-82802
As a White Sox fan… this house is fucking awesome! near the lake too, although the general area ain’t so great and is pretty car dependant, but the entire Berkley St (check streetview) is just frickin awesome. All those old stone rowhomes… I love it
house looked to be in sad shape on streetview when boarded up as well so its good to see that they did a really nice job restoring it
as for what it will sell for… who knows, but this place is sweet
@Groove, what are your thoughts on this property
http://4737nlong.com/
Riz,
no i was talking about buying THIS place and driving to the the trader joe’s in the sloop.
Ah, okay gotcha. Yeah it’s a beautiful place.. Id probably go somewhere in the middle and get a 800k 3000 sq foot place in south loop – you can probably still walk to a lot of stuff, good public transport, not a lot of traffic..close to the lake and highways..kinda miss living there.
RIz – you are funny. You dismiss my comments as “anecdotal evidence” but then state “Was talking to some attendings about this last night and they started laughing when i asked the possibility of their being more money in oakbrook vs. lake forest” as YOUR evidence.
You go on to cite published median incomes as data – without realizing that this data is an AVERAGE and includes many many condos and apartments in Oak Brook (acquired in a very smart move by the village to increase state funding by demonstrating affordable housing) . If YOU are a scientist/physician, you should learn how to more accurately analyze data. The data needs to be broken down.
You talk about 6 and 10 million dollar properties for sale – but, you and I both know that anyone can ask anything for their house.
You talk about the lakefront in Lake Forest – however you fail to mention the 1-2 hour commute to downtown. I can tell you that, without traffic I can get from my house to downtown in 15 minutes (with traffic – 45). You can’t do that in Lake Forest.
Get some rest – your fatigue is showing.
also clio, there are 162 games in a baseball season assuming no playoffs, which in Chicago is almost a given LOL so there are 81 home games
“North Kenwood is where President Obama lives (lived), and this home is a few blocks away.”
Actually, Obama’s house in on the 5000 south block of Greenwood Avenue in South Kenwood. Sure, they’re both in Kenwood, but 47th Street is a signfiicant boundary and the neighborhood to the north of 47th is very different from the neighborhood to the south of 47th.
so clio theres no apartments and condos in Lake Forest?
Your arguement is weak!
also LOL @ this comment
” I can tell you that, without traffic I can get from my house to downtown in 15 minutes (with traffic – 45). ”
when isn’t there traffic on 290/88??? 3AM? LOL
“when isn’t there traffic on 290/88??? 3AM? LOL”
M-f : 10AM-3PM, 8PM-6AM
s-s: pretty much all day
“so clio theres no apartments and condos in Lake Forest?”
The ratio of apts/condos to houses is MUCH MUCH higher in Oak Brook than Lake Forest.
It is sad that the neighborhood is not safe. When I drive south on Martin LutherKing drive, there are so many beautiful old houses. I would have loved to live in one of them, but it seems that the neighborhood is a no go zone for most part.
miumiu – I totally agree. In fact there were some of the most beautiful houses I have seen in chicago in this area!! Some of them are incredibly cheap – but, like you said, the neighborhood makes it a “no-go”.
“@Groove, what are your thoughts on this property
http://4737nlong.com/”
did you see that added metered parking down giddings off of milwaukee? sorry side tracked.
awesome house, there are some large homes in that pocket. but oddly the streets are tight and narrow there.
one thing did the 07 owners do anything to the place looks like it was done in 2005 and 2006. why pay more for the same if nothing else was done?
Hi Chris M –
I am intrigued. I know zero about this area. I’ve never been there. How are the areas north and south of 47th Street different?
This house is beautiful, but I am assuming it’s another case of “no one who wants to live here can afford this house and no one who can afford this house wants to live here.” You would have a beautiful home, but you would be pretty insulated and car-dependent. So if you’re looking at this price point, why not buy a smaller place in a walkable area of the city with lots of amenities, or just move to the suburbs?
Along with the high price of this house come high heating and maintenance costs too. 5,500 sft is massive.
Since you’re 20 miles from the loop, that means you are traveling 80mph with no stops. Guess your house is right off the ramp and you don’t have to worry about speeding tickets.
“I can tell you that, without traffic I can get from my house to downtown in 15 minutes (with traffic – 45).”
“why pay more for the same if nothing else was done?”
because maybe that is what the market commands?!!!
Why are people so weird about real estate? Nobody has a problem with profit taking from stocks, etc. (ie, when you buy a stock for 1 dollar and sell it for 10 dollars – why don’t people question the validity of this transaction – the buyer didn’t do anything to make the stock go up). why don’t they feel the same about housing. It just doesn’t make sense.
Icarus, what’s Jefferson Park like? I know nada about it, but like that style of home. There are an number of towns back east built along the old railroad lines in very nice areas that have great walkability and access to transit with that style of house.
Clio and Miumui,
it only takes a few to change a neighborhood, you guys should do it.
and the strech from the sloop to bronzville/gap to kenwood is really not that bad. sadly south shore and west of Washington park are the “bad parts”
“Since you’re 20 miles from the loop, that means you are traveling 80mph with no stops. Guess your house is right off the ramp and you don’t have to worry about speeding tickets.”
Oak Brook is not 20 miles from the loop – more like 12-16 miles (e to w)
““why pay more for the same if nothing else was done?”
because maybe that is what the market commands?!!! ”
clio do you live in jefferson park?
no you dont, so shut the f*** up you know nothing about it.
how far to the closest moo&oink?
Groove – the comment was not meant to be directed at you or the property in question – more of a general observation…
“As a White Sox fan”
LOL. I would have picked you for the other. I sincerely apologize to you for the mistake.
@Groove, from my CCRD research, it looks like the present owners did a lot with the place and are trying to get all their rehab money back.
Clio, the price point for the area is a bit high. To paraphrase Milkster, whom I believe is qouting me, “no one who wants to live here can afford this house and no one who can afford this house wants to live here.”
I like the location and the house, but not the price. The sellers are firm and will not budge.
1) Obviously, Barack lives in South Kenwood, not North.
2) This area was undergoing rapid gentrification last decade, with the destruction of the public housing, moving out low-income residents, and tons of new development on Oakenwald, etc. The process has slowed considerably with the popping of the credit/housing bubble. A couple of U of C-run charter schools and a well-regarded small district school (Ariel), which does not have attendance boundaries but is required to maintain a minimum percentage of neighborhood kids. Mostly (though not exclusively) black professionals were responsible for the gentrification.
3) For those who cringe at the de-periodization of the place, there’s always this one on Ellis:
http://www.redfin.com/IL/Chicago/4559-S-Ellis-Ave-60653/home/13962246
I went with googlemaps. Guess they got it wrong.
http://maps.google.com/maps?rlz=1C1GGLS_enUS350US350&q=oak+brook&um=1&ie=UTF-8&hq=&hnear=Oak+Brook,+IL&gl=us&ei=jARUTdKAAcT2gAeblKXCCQ&sa=X&oi=geocode_result&ct=image&resnum=1&ved=0CCsQ8gEwAA
“Oak Brook is not 20 miles from the loop – more like 12-16 miles (e to w)”
“it only takes a few to change a neighborhood, you guys should do it.”
We should all do it as we clearly get along so well…hehe
Like others, I really like this house, but it’s hard to see who the market is. Your garden variety lower upper class person is not going to consider this area. There are a number of wealthy people who live in the mansions between 47th and 51st, but that’s a very bounded area and this place falls outside of that enclave. The home likely is too expensive for professors or other U of C employees who would be willing to live close to, but outside of, the boundaries of Hyde Park/Kenwood. People who are single or do not have kids don’t need this much space; as for families, if you can’t get into the Lab School, I don’t think there are any other options. So … who is going to buy it at this price point?
@Joe, Jefferson Park is very blue collar. It has a high concentration of Poles (my peeps) but also some other minorities creeping in. From what I’m told, there are good parts and bad parts now whereas there was a time when it was all good.
Good transportation options, two metra stations, big El/Bus station and close to 90/94.
Google Maps
I-290 route (so as the car drives not as the crow flies)
Oak Brook to 1 N. State, Chicago
http://maps.google.com/maps?f=d&source=s_d&saddr=1+N+State+St,+Chicago,+IL+60602&daddr=Oak+Brook,+IL&hl=en&geocode=FckUfwIds-jG-inllF8npSwOiDFbRZVR4nfHHg%3BFapsfgIdb-_B-inP-2QHFkwOiDHsAAKz58qj0A&mra=ls&sll=41.839786,-87.953553&sspn=0.039454,0.084372&g=oak+brook,+il&ie=UTF8&z=12
19.5 mi as the distance
Google estimate of travel time with traffic 40 min.
—
In the morning on AM 720, rush hour traffic on I-290 is usually around 50 min – 1 hr inbound from Thorndale to the loop
BTW, if President Obama divorces his wife and marries me I would move there in a heartbeat. In fact, given that my husband is in love with him he might tag along too…lol
“Groove – the comment was not meant to be directed at you or the property in question – more of a general observation”
i know but have been waiting to let that out for a while, i just used the opportunity 🙂
haha its ok G
And come on, would a snobby Cubs fan hang out at the Shamrock club as frequently as I do? 🙂
“I am intrigued. I know zero about this area. I’ve never been there. How are the areas north and south of 47th Street different?”
My wife and I were looking at home in the Kenwood and Hyde Park areas about a year ago and spent some time exploring the area. South Kenwood has more in common with Hyde Park than it does with North Kenwood. South Kenwood is an eclave of really spectacular mansions and is why the area was once called the “Lake Forest of the south”. The lots are quite large and the prices for most of the homes well exceed $1M. The neighborhood is quite well-to-do and is home to professors and some notable residents.
North Kenwood, on the other hand, is still quite run down. I toured one of the properties for sale in the area–an old greystone rowhouse with tons of original details–and it was one of the most decrepit properties I had ever seen…and it was occupied by a family. THe woman that lived there showd me the house and said that someone always needs to be home to avoid someone breaking in to strip the home of its original details. The lots are very small and it’s predominantly old rowhouses, although the architecture is quite stunning. However, it’s evident that most homes in the north half are in need of renovation. I felt that the area was eerily quiet on the streets and I wouldn’t feel too comfortable walking around, particuarly at night. I could see the north half of the neighborhood being gentrified in the future but it has a ways to go to catch up with the areas to the south of it.
juliana, it is exactly 15.2 miles from my house to ground zero (state/madison) – according to mapquest
“@Groove, from my CCRD research, it looks like the present owners did a lot with the place and are trying to get all their rehab money back”
Icarus,
from redfin’s old listing info the RE agent list the things done in 2004 and some in 2006. did the 07 owner really do that much more?
chichow – how far is it from lake forest to downtown?
@Groove
I didn’t have a redfin account when I first came across this property. What do you think is a fair market value price for this?
We can take it offline if you like darkangel@uicalumni.org or here even though Sabrina hates these tangents that usurp her blog 😀
http://www.madhedgefundtrader.com/february-10-2011.html
The bear thesis on housing (Especially suburban) for the next 20 years well articulated. I to a great extent agree with this thesis.
shamrock club is a great spot. but why would cubs fans be leery of an irish bar?
@ Clio:
Perhaps you should google it yourself? To provide data to substantiate you position…
regardless:
Google Maps
I-94 route (so as the car drives not as the crow flies)
Lake Forest to 1 N. State, Chicago
http://maps.google.com/maps?f=d&source=s_d&saddr=Lake+Forest,+IL&daddr=1+N+State+St,+Chicago,+IL+60602&hl=en&geocode=FcrQhAIdj6jD-injVQFwM5UPiDHcWVYJMULugQ%3BFckUfwIds-jG-inllF8npSwOiDFbRZVR4nfHHg&mra=ls&sll=42.258634,-87.840625&sspn=0.078389,0.168743&g=lake+forest,+il&ie=UTF8&z=10
32.4 mi as the distance
Google estimate of travel time with traffic at 1 hr.
“shamrock club is a great spot. but why would cubs fans be leery of an irish bar?”
good point… Cubs fans are definitely used to drinking in dumpy places that smell like piss
Chichow –
are you serious?!! You take the lowest calculated mileage from LF -Chicago and the highest calculated mileage from Oak Brook- Chicago and expect that to be a fair comparison?!! You really need to brush up on your analytical skills.
LF – chicago: 32-41 miles est travel time 48-70 minutes
OB-chicago: 19-20 miles est travel time 30-45 minutes
either way i would rather drive 94 than be on 88/290.
plus if its a nice day and you can drop the top you can cruise the lake front trail (sheridain road/lsd) for a beautiful drive to downtown.
from oak brook your scenic route is what Roosevelt? psssssst blaaaa
I don’t know how you got that off mapquest. I get 18.2. Next time provide the map instead of just your statement:
http://www.mapquest.com/?version=1.0&hk=6-PNtVBN8x
“juliana, it is exactly 15.2 miles from my house to ground zero (state/madison) – according to mapquest”
“as for families, if you can’t get into the Lab School, I don’t think there are any other options.”
Ancona is definitely an option up to 8th grade if you’re willing to spend.
6 blocks (distance from this place to Obama’s) is not really that close in this part of town…a lot changes in a short span. And, the Lab School is ‘close’ relative to someone living in GC or LP, but the kids aren’t going to walk school from here. As some have also said, I don’t think the average UofC professor is quite intrepid enough to live this far north of campus, but who knows.
“plus if its a nice day and you can drop the top you can cruise the lake front trail (sheridain road/lsd) for a beautiful drive to downtown”
sure – if you have 2 hours to get downtown.
@ Clio:
I respectfully disagree.
– I took the first presented route from Google Maps in each case.
I also used what Google determines as village center by simply putting in
Oak Brook, Il or Lake Forest, IL and also using 1 N. State as the 0 / 0 point for downtown Chicago.
– I am also not using Village boundaries (edges) or outing you by using your house location in Oak Brook. If we were to use you as a single data point, then in addition to using your house location, we should also not going to downtown but to the Drake hotel which would add another approx 1.5 mi in distance.
That being said, I get 32.4 mi from Lake Forest to downtown and 19.5 from Oak Brook to downtown. Google seems to be variable in what it says for travel times.
I actually agree with all of you – Lake Forest is more beautiful than Oak Brook for many reasons – the lake, larger lots, less congestion – but the truth of the matter is that Lake Forest is very inconvenient if you like/need to get around the chicagoland area or like going downtown. My next door neighbor (life long Oak Brook resident) also happens to own a house in Lake Forest and it is from him that I get much of my information. He says that Oak Brook is infinitely more convenient than Lake Forest for everyday life. Lake Forest, to him, is like a retreat to be enjoyed on weekends/holidays/vacations.
Chichow – you don’t have to respectfully disagree or agree with me. There is no way that Lake Forest is only 10 miles further from downtown than Oak Brook -sorry -it’s just not true. Also, there is no way in hell that driving from Lake Forest to Downtown takes 45 minutes. I remember when my parents were married and we lived in kenilworth – my dad used to complain and complain that it took 45-70 minutes for him to get to the north side every day – and kenilworth is a hell of a lot closer to downtown than lake forest.
“To paraphrase Milkster, whom I believe is qouting me, “no one who wants to live here can afford this house and no one who can afford this house wants to live here.””
Hi Icarus –
Thanks for the quote. There’s also that saying which goes “Buy the worst house on the best block. Not the best house on the worst block.”
I don’t need a fancy manor. I’d rather have a humble place in a safer neighborhood with more to do.
I’m pretty sure clio can make it to Iowa in an hour.
With respect to the property, it looks nice.
I haven’t driven down Drexel and that area for sometime so I don’t have recent data.
Based on my past personal experience though, I would also say that this part of the city like any other part can change rapidly within 2 city blocks.
“I don’t need a fancy manor. I’d rather have a humble place in a safer neighborhood with more to do.”
Milkster – I totally agree with you – and this attitude is what I loved about the east and west coasts when I lived there. Nobody put that much emphasis or weight on their actual living space – it was always more about the neighborhood/area. In chicago, I find people much more invested and concerned about the space in which they live. At first i thought it was because chicagoans spend so much time indoors because of the weather – but the east coast also has bad weather. I think it is just the mentality which gets passed down from generation to generation.
Sonies –
If you like the Shamrock Club, we can go to Jackie’s 5th Amendment in Park Slope if you are ever in Brooklyn. I plead the 5th! 🙂
http://www.yelp.com/biz/jackies-5th-amendment-brooklyn
I’m not that tired Clio, and my evidence was in the median and average incomes of the area, as well as median home prices.. Not just those for sale but also those that have aold in the past. The attending comment was just citing some “richer” individuals responses to claiming oakbrook was more wealthy than LF. I don’t disagree oakbrook is slightly closer to the city, but we own a property in Midwest club and I have commuted to the city numerous times and never is it a 15 min drive… 290 always takes 45 min and if u opt for 294–>55 it still takes 45 min with light traffic. If I’m going to Rush at 430 am it still takes 30 minutes or so..oakbrook is a beautiful suburb and I wouldn’t mind loving there at all, I just think LF is as you said, more beautiful, and as I believe, far more prestigious.
Clio,
it wont matter traffic is only getting worse and getting to the “citaaay” is going to be more of a knuckle bitter than the years before it.
10 years ago when wife and i would head over to oak brook court we would take 290. the past 3 years we avoid it and take cermak, butterfield or other ways.
Hi Clio –
I love the snow! I walked all over the Chicago neighborhoods in the snow when I was in town last month. You’ve got to just embrace it and dress warmly with layers, down, good boots and a hat 🙂
* living . Stupid autocorrect. Wouldn’t mind loving in oakbrook either I guess, haha
@Milkster…I hope I didn’t piss you off. Here’s my orginal line:
“Anyone who can afford the asking price doesn’t want to live there and anyone who wants to live there cannot afford the asking price.”
http://runninggod.blogspot.com/2010/08/real-estate-market-keeps-us-all.html
Your point about the worst house on the best block speaks for itself. These people (4737 n long) could not sell a good sized home once the bubble burst, but owners in the green zone, on average, seemed to be able to unload their places at break-even prices.
No worries, Riz – in our profession you won’t be able to afford Lake Forest or Oak Brook anyway
@ Clio
Mapquest 32.37 mi between Lake Forest and Downtown 1 N. State
http://mapq.st/dJ2862
“oakbrook is slightly closer to the city, but we own a property in Midwest club and I have commuted to the city numerous times and never is it a 15 min drive… 290 always takes 45 min ”
Sure – if you are leaving at 8 in the morning or trying to go downtown at 5pm – but try driving to the city between 10-4pm or after 8pm and I will BET you get there within 20-30 minutes tops.
“No worries, Riz – in our profession you won’t be able to afford Lake Forest or Oak Brook anyway”
You and I both know I will, you can’t pull the ‘i’m richer than you’ stuff on me Clio. you know better than that.
@ Clio
Bing 31.8 mi between Lake Forest and Downtown 1 N. State
http://www.bing.com/maps/#JmNwPTQxLjg0ODg1MDI1fi04Ny42NzEyNDkzODkmbHZsPTQmZGlyPTAmc3R5PXImcnRwPXBvcy40Mi4yNTEwMzQ4MjYwNDAyN18tODcuODQxNzI5NjcwNzYzMDJfTGFrZSUyMEZvcmVzdCUyQyUyMElMX19fZV9+cG9zLjQxLjg4MjE5N18tODcuNjI3ODA2XzElMjBOJTIwU3RhdGUlMjBTdCUyQyUyMENoaWNhZ28lMkMlMjBJTCUyMDYwNjAyLTMzMDJfX19lXyZtb2RlPUQmcnRvcD0wfjB+MH4=
PS, there are plenty of ~ 1 mil properties in oakbrook, hinsdale, burr ridge. You don’t have to make much more than 300k to afford that…There is a sizable part of the population, ( obviously including physicians ) that will continue to be able to afford that. sorry to pop your bubble.
Oh no – I’m not pulling anything with you but facts are facts. I have been in medicine much longer than you and have enjoyed a high income for at least 10 years – you will start out in a very troubled market with high physician job uncertainty and SIGNIFICANTLY decreased incomes. The days of anesthesiologists making 500k + are going away FAST. Sure, you will still be able to make a great living and do something very interesting, but don’t count on making big bucks.
ha milkster, do they have delicious $6 italian beefs as big as your head with fries there? if so, I might need to take a vacation, NOW!
chichow – you should be the spokesperson for lake forest – probably a more profitable way to spend your time
“Oh no – I’m not pulling anything with you but facts are facts. I have been in medicine much longer than you and have enjoyed a high income for at least 10 years – you will start out in a very troubled market with high physician job uncertainty and SIGNIFICANTLY decreased incomes. The days of anesthesiologists making 500k + are going away FAST. Sure, you will still be able to make a great living and do something very interesting, but don’t count on making big bucks.”
Funny you say that. Just got a recruiting letter from a pain management group offering right around that number post grad as a starting salary. 10 years is a pretty low time period as a doc to make ‘high income’ – did you retire when you were 40?
I’m not counting on medicine to make me rich – I don’t really need to worry about the money that much. I’m not going to get into the ‘doctors will be average salaried workers’ argument with you right now.
“Ancona is definitely an option up to 8th grade if you’re willing to spend.”
And St. Thomas is, if you’re willing to spend much less.
However, as much it pains me to do this once again, I would like to use the percentage of students scoring at/above the “meets state standards”-level on ISAT for a purely introductory exercise (note: this is, generally speaking, an absurd way to compare schools), using some of the most coveted north side schools:
Bell M/E Math Gr 3 2010: 88%
Bell M/E Read Gr 3 2010: 86%
Nettelhorst M/E Math Gr 3 2010: 95%
Nettelhorst M/E Read Gr 3 2010: 86%
Blaine M/E Math Gr 3 2010: 94%
Blaine M/E Read Gr 3 2010: 87%
Ariel M/E Math Gr 3 2010: 97%
Ariel M/E Read Gr 3 2010: 87%
As stated earlier, Ariel does not have an attendance boundary.
“Funny you say that. Just got a recruiting letter from a pain management group offering right around that number post grad as a starting salary. ”
be careful – be very very careful of such offers. Also, do you really want to live in Arkansas? Come on, Riz – you don’t seem that stupid – look at where healthcare is going – even if pain was paying that right now – medicare and all the insurance companies are drastically cutting back reimbursements to physicians. How long do you think that will take to trickle down to you- no more than 1-2 years. Ask your relatives or “smart attendings” about it (of course, they are salaried so they may have no clue). I live this every frickin day – I have seen my income drop 25% over the past 2 years and more cuts are coming. You are living in fool’s paradise if you think otherwise.
I vote we ban the words “Oakbrook” and “Lake Forest” for the remainder of the week. All those in favor……
It’s a group with Rush Copley in Naperville. Anesthesia reimbursements increase every year, they were slashed to lows in the 90s and are not on the chopping block like cardiology and radiology. None of my relatives are salaried, all are private practice. Our attendings all have private practices aside from Academia as well. 25% is pretty harsh – my dad’s income went up 15% since 06′. Maybe you’re in the wrong medical field, you have to be versatile with changes. Again, this is no forum for medical economics, so to each their own.
Onlooker – I agree – even I am sick of these two places!!
@ Clio
I am just presenting the data from three different sources. You of course can believe whatever you wish.
Through the years, I’ve spent enough time in Midwest Club to know how long it takes to drive from the Oak Brook area to downtown.
I think a 15 minute commute time on I-290 is much more plausible with no traffic between Oak Park and downtown.
Clio,
physicians don’t use language like that. Very unprofessional. An optimistic or realistic person wouldn’t say that physicians will have ‘drastic’ cuts in salary. No economic, healthcare, or insurance group or thinktank supports this claim – in fact they deny that this is the case. Will salaries go down? yes – but to a tune of a few percent over the next 10 years. I’ll bet you a million bucks – It may drain my trust fund down more than i’d like, but I’m always willing to put my money where my mouth is. Honestly, your view on healthcare sometimes makes me doubt if your background is truly in medicine, and if it is , if you’re very active in the field. you seem very out of touch with medical economics. even with government healthcare, salary cuts will be the tune of 20%, which is as ‘drastic’ as it could possibly get. No point in arguing without facts, only time will tell.
“Anesthesia reimbursements increase every year, they were slashed to lows in the 90s and are not on the chopping block like cardiology and radiology”
yeah, this year…. wait until next year. Again, don’t take my word for it – ask around and also look at the bigger picture of what is taking place in the healthcare arena for the next 10-20 years. Have you heard of “bundled payments”? Most hospitals/healthcare systems are positioning themselves to have physicians as employees (as this will be the only way to get services from physicians at a given rate). At the same time, physicians realize that if insurance companies/medicare are only participating in “bundled payments” they are trying to align themselves with hospitals so that they WILL be paid. The days of a private practice group operating on its own are numbered. You would be wise to do a little more research before accepting any job offer. Seriously – not trying to be a negative ned – but those are the facts
Ps, I’m not arguing that most physicians are ‘rich’. We’ve been through this. The vast majority are in the 200-250k ballpark salary wise. It takes a smart business sense, a 60 hour work week, private clinics, and multiple hospital contracts to break a 500k salary. Very few specialties and people break that mark, but thinking you’re the first, or last physician that is going to be ‘rich’ is obviously wishful thinking.
We’ve talked bundled payments before. They’re not a threat to specialists , and not a huge national likelihood for IM docs either. let’s drop it for now, i’ll touch base with you on this topic in a few years when i’m out in private prac.
Riz – WTF are you talking about – I am in my mid 40s in a very lucrative practice associated with the largest healthcare provider in Illinois. I am at the very center of these issues and absolutely know what I am talking about. Stop talking with your fellow 20something year old residents or academic attendings. Seriously, look into the future of healthcare. Also, you don’t speak like a true physician either by spouting nonsense such as “No economic, healthcare, or insurance group or thinktank supports this claim – in fact they deny that this is the case”. LOOK AT WHAT HOSPITALS ARE DOING RIGHT NOW!!! GOOD GOD – you are so frickin naiive.
Sean: interesting article. I agree with the premise but there are a lot of unknowns out there – like immigration, inflation, jobs, wages, etc. It’s funny to see boomers and grandparents today holding out for the top (and ridiculous) price for their home, looking to offload it on someone from the younger generation. in a sense, they are the bag holders and they need to start cutting prices.
No, I’m not naive. I just don’t get emotional about sensationalized claims that have been plaguing this profession for years. People have been spouting this BS for years. And, no, I’m correct – no thinktank or research group that has studied income impacts from government impacts, nationalized healthcare, and yes, even bundled payments has supported the claim that salary cuts will be drastic – they will be mild, and with complete government health care, moderate ( 20% ). My entire family, as well as attending staff is full of ‘lucrative’ private practice docs so I know what i’m talking about very well.
‘ Look at what hospitals are doing right now’
– which is exactly what? trying to make physicians employees and get rid of private practice? yeah. they’ve been doing that since the 70’s – how much success have they had? Stop freaking out. I can give you some Norco if you’d like.
Where does all the furniture come from?
Is it a service from whomever is doing the staging? What would be the monthly cost for staging a place like this?
@chichow – As the awesome Neil Lagrasse Tyson once said “The great thing about science is it’s true whether you believe it or not.” One could say the same could be said for mapping distances from the north shore to downtown. Whether Clio believes it or not, it’s still 32-ish miles.
“My entire family, as well as attending staff is full of ‘lucrative’ private practice docs so I know what i’m talking about very well.”
Talk to them….. ask them what they think. If any of them is involved with administration, they will be able to set you straight. (I also know a lot of private practice doc who just bury their heads in the sand because payment is ok right now – in 3 years they will be screaming ,shouting and complaining because their income is dropping faster than the price of a south loop condo)
” Stop freaking out. I can give you some Norco if you’d like.”
OK – there are so many things wrong about this one little statement:
1. Norco is for pain – as a physician and anesthesiologist who is going into pain management – if you don’t know this by now – you are in SERIOUS trouble.
2. You can’t prescribe something to just anyone – don’t they teach you this in residency? Even joking about it could lead to an investigation – I suspect your attitude, spoiled upbringing and penchant for nicer things may get you into trouble given the power given to you as an anesthesiologist – be careful
“I dare the people comenting on this place to walk/drive three blocks north of 47th.”
Are you really such a [nasty word] that you wouldn’t *DRIVE* on 44th? Seriously?
Walking, fine, especially after dark.
The big question I have about this place is what about the rest of the row?
It is not necessarily a bad thing if doctors are paid less sort of how they are in the rest of the world. Healthcare and insurance is prohibitively expensive for a good chunk of the population; and the fact that clio is paying child support, alimony, a mortgage on a house in oak brook, an in-town, a farm, AND has enough money left over for a lambo – and if clio has to live with slightly less so the less fortunate can get adequate health care, then so be it. I know I won’t be losing any sleep. I know lawyers are paid too much too, and believe me, plenty of lawyers have taken large, and probably permanent, pay cuts this recession.
“the fact that clio is paying child support, alimony, a mortgage on a house in oak brook, an in-town, a farm, AND has enough money left over for a lambo – and if clio has to live with slightly less so the less fortunate can get adequate health care, then so be it. I know I won’t be losing any sleep”
This is ALL from money I made in real estate – there is no way in hell I could afford all of this on my annual income.
“juliana, it is exactly 15.2 miles from my house to ground zero (state/madison) – according to mapquest”
15.2 miles from State/Madison along 290 gets you *exactly* to the ramp to 88. Unless you’re taking the helo, you’re house is more than 15.2 miles to state/madison.
” and if clio has to live with slightly less so the less fortunate can get adequate health care, then so be it. I know I won’t be losing any sleep”
HD – you are an idiot – seriously, do you really think that the majority of money (or even any significant amount) is spent on physician fees/compensation?!!! The VAST MAJORITY of healthcare dollars is spent on hospital costs, lab tests, and ancillary staff. You, like the majority of Americans have no clue as to the economics of healthcare. You probably see someone in a nice car and assume they are rich, right?
“OK – there are so many things wrong about this one little statement:
1. Norco is for pain – as a physician and anesthesiologist who is going into pain management – if you don’t know this by now – you are in SERIOUS trouble.
2. You can’t prescribe something to just anyone – don’t they teach you this in residency? Even joking about it could lead to an investigation – I suspect your attitude, spoiled upbringing and penchant for nicer things may get you into trouble given the power given to you as an anesthesiologist – be careful”
Yes. I know what Norco is – it was a joke Clio. Norco is for pain but ( as every doctor knows ) gives a sense of euphoria and relaxation. Hence it is often abused by overworked physicians that freak out.
“Unless you’re taking the helo, you’re house is more than 15.2 miles to state/madison.”
exactly…
Clio’s right on this one HD – Doctors don’t really put much of a dent in healthcare costs. Insurance companies keep a ton of money in the middle, and a lot of money is wasted on unnecessary tests and what not – ( have to make the hospital some money as well. )
As to the clio/ riz debate: both Oakbrook and Lake Forest may have nice properties which should be the base of the discussion but they are quite “a world apart” psychologically for those who are long term Chicagoland residents. Oakbrook is just “low brow” for many, many reasons that clio could never grasp.
“ha milkster, do they have delicious $6 italian beefs as big as your head with fries there? if so, I might need to take a vacation, NOW!”
No, I don’t really know where to get Italian beef in NYC unfortunately. But we can get good Italian food right by Jackie’s, or tacos or Malaysian in Sunset Park just south of there…
See…this is why I need to live in a walkable neighborhood! I just get so OVERLY enthusiastic about everything that’s out there to see and do! I love street life. I love having stores and people around. I will check out North Kenwood out of curiosity, but I’m pretty sure I wouldn’t want to live there.
If any of you make it to NYC, e-mail me at oakstbeachgrrl@yahoo.com 🙂
“Hence it is often abused by overworked physicians that freak out.”
names, please – they need to have their medical licenses revoked/suspended
would either riz or clio ever admit they make too much money?
“Oakbrook is just “low brow” for many, many reasons that clio could never grasp.”
Try me… remember, i trained at Harvard and Stanford and am not as stupid as you think…..
“would either riz or clio ever admit they make too much money?”
Sure – if CEOS, attorneys, stockbrokers, real estate agents, etc. do the same. Oh – also HD – having someone’s life in your hands is a little bit more stressful than pushing papers all day.
“names, please – they need to have their medical licenses revoked/suspended”
too long for us to even bother.
“would either riz or clio ever admit they make too much money?”
Sure. If i was making a million dollars a year I wouldn’t feel right about it. 200-600k a year, given about 9-12 years of postgraduate training, 300k in tuition costs, and working 80 hours a week until i’m 30, and 60 hours after that, and working in a profession where I risk my license to save lives every day – yeah, i think we’re fairly compensated. Can you say that as a lawyer?
“Sean: interesting article.”
“As a result, the Federal Reserve thinks that 50% of American homeowners either have negative equity, or less than 10% equity As a result, the Federal Reserve thinks that 50% of American homeowners either have negative equity, or less than 10% equity, which amounts to nearly zero after you take out sales commissions and closing costs. That comes to 70 million homes.”
Really? So, something like 80% of those with mortgages have less than 10% equity?
Also, the “50% of homeowners = 70 million homes” is such a fundamental error that one *MUST* question the rest of the analysis. There are slightly more than 100 million TOTAL households and only about 65% of them are owners, so, somehow, 50% of homeowners = 95%+ of homes. Just a fundamental, stupid mistake.
G – the difference is that medicine is highly regulated and is 100% controlled by insurance companies and the government – real estate is not. It is still and will always be a free market for real estate (unless the government takes over ALL housing ownership). Huge fundamental differences – if you can’t see that, then I have to question your ability to critically analyze issues related to other topics.
@ Milkster
If you love walkable neighborhods (as do I), you’ll find it an interesting stroll but there’s not a heck of a lot to do. However, make sure to grab lunch at Zaleski & Horvath cafe if you do go.
“It is still and will always be a free market for real estate (unless the government takes over ALL housing ownership). Huge fundamental differences – if you can’t see that, then I have to question your ability to critically analyze issues related to other topics.”
It is always a win when you question my abilities so incoherently, clio.
BTW, city data shows that Oak Brook is 3% renters and Lake Forest is 13%.
G – what don’t you understand?
Real estate is not controlled by the government. People are free to set prices/rents at whatever the consumer will agree to pay.
Healthcare is 100% controlled by the government and insurance companies. Physicians are at their mercy and collect only what the government and insurance companies pay. Sometimes, we perform services, risk our licenses, risk litigation and NEVER get paid – yet we are legally obligated to treat everyone – even if we know we are not going to get paid.
There is a HUGE difference between real estate and healthcare – and if you don’t understand that, then you, too are an idiot (ok that last insult was more directed at you because you made me take a longer time between sets to write this).
so once again, clio’s reading comprehension fails
“so once again, clio’s reading comprehension fails”
I have to wonder what else fails him that he is overcompensating for around here?
“BTW, city data shows that Oak Brook is 3% renters and Lake Forest is 13%.”
G – provide data on number of condos: houses for both places.
sonies – you,too are an idiot and should question your own reading comprehension – I never once mentioned anything about renters in oak brook vs lake forest. I talked about numbers of apts/condos vs houses.
“I have to wonder what else fails him that he is overcompensating for around here?”
G- this time it is your reading comprehension that is failing. I am using cc right now to build up adrenaline so that I can finish my workout before going to work!
To the architecture buffs out there, what style is this home? I absolutely love this style, it reminds me of railroad tycoons or something
“G – provide data on number of condos: houses for both places.”
You have access through your real estate brokerage, no? I already know the answer.
clio – you, are an idiot and should question your own reading comprehension – I never once mentioned anything about the differences between the RE and healthcare markets. I talked about copying your response because I thought it was one bright thought out of you.
G – thanks for providing me the energy/adrenaline to hopefully finish the last hour of my workout!!!
And what is the story on the vacant lots behind this property, are they for sale? or are they part of the property on greenwood?
Looks Romanesque to me
Sonies – Columbian Exposition. 😉 Seriously, it was built in the same year as the exposition opened. I would hazard a guess and say that it was thrown up a la our modern McCrapboxes, but a world apart quality-wise. The limestone would have come from Joliet or Indiana.
It’s kind of arts and crafts, but not really. There’s no one distinct style that stands out. That period of architecture was a bit of a mish-mosh with people getting tired of the heaviness of the Victorian era, but not quite embracing Frank Lloyd Wright just yet.
Sonies–here is a brief description of this architectural style: http://webapps.cityofchicago.org/landmarksweb/web/styledetails.htm?styId=207
The limestone quarried for this property and nearly all of the greystone buildings in Chicago came from Indiana. Limestone quarried in Wisconsin was generally pink and limestone quarried in Illinois tended was generally yellow (a la the Water Tower).
ah thanks guys, i frickin love it!
The below article is a perfect example of the misinformation and outright lies/deception and false information perpetuated by the media. The whole premise of the article is that Deion Sanders is asking almost 4 times what the house is worth – based on the county assessment. Obviously assessed values are 1/3 true market value – but this “responsible” and “published author doesn’t seem to realize or care about this.
http://sports.yahoo.com/nfl/blog/shutdown_corner/post/Deion-Sanders-wants-a-lot-of-money-for-his-109-a?urn=nfl-319524
proof again that money doesn’t buy taste… blech! That house is terrible
and who would want a dallas penthouse? Smog connoisseurs/enthusiasts?
“Obviously assessed values are 1/3 true market value”
Clio:
You really should do 2 seconds of research before posting things that are SOOOO ridiculously incorrect:
“[Texas Property Tax Code] Sec. 26.02. Assessment Ratios Prohibited.
The assessment of property for taxation on the basis of a percentage of its appraised value is prohibited. All property shall be assessed on the basis of 100 percent of its appraised value. “
“You really should do 2 seconds of research before posting things that are SOOOO ridiculously incorrect:”
Is it really incorrect? Take a look at sold prices and assessed values and then tell me I am incorrect.
“Is it really incorrect? Take a look at sold prices and assessed values and then tell me I am incorrect.”
DUDE!! The subject property is in TEXAS, where the thing you suggest is ILLEGAL, per the code section I included. Don’t be an obstreperous twat.
Anon, I just wanted to see that raw emotion come through – mission accomplished!!
Raj is never wrong.
When I was a kid (late 70s early 80s), many of the Sox players lived in far flung places like Lemont, Lockport, unincorporated Homer township, etc.
“When I was a kid (late 70s early 80s), many of the Sox players lived in far flung places like Lemont, Lockport, unincorporated Homer township, etc”
Do you blame them – can you imagine the dangers and nuisances of living in a “neighborhood” for these famous people!! Sure things are great when things are good – but when things start going badly – watch out. There are a lot of weirdos out there – just take a look at cribchatter.
Last I checked this house has NOTHING to do with Oak Brook, Lake Forest or healthcare! Take your inane bickering away and there are some really interesting comments on the house…..
Funny!!
“and who would want a dallas penthouse? Smog connoisseurs/enthusiasts?”
sorry everyone i stopped reading post on this property 10:34 am,
did i miss anything relevant to this listing?
yes groove, let me recap
the architecture exhibited here is “Romanesque”
Doctors and all professionals are overpaid
Deon Sanders has no taste (unless you invent a time machine and go back to 1994)
and finally… Lake Forest is further from State & Madison than Oakbrook!
“Three blocks north of 47th. I dare the people comenting on this place to walk/drive three blocks north of 47th. Lol.
This is the dangerous Southside that everyone talks about. I would need to have a death wish to flash this much money over here.”
Try growing a pair next time. This area really isn’t as bad as everyone is pretending it is. 44th and King is sketchy… but this far east is no worse than any other middle ground neighborhood in Chicago.
Everyone on this site is always searching for deals on great property in Chicago but it never seems that anyone wants to make sacrifices and put themselves out there to get the piece of real estate they have always wanted. Yes, Kenwood north of 47th is not the same as south of 47th, but if no one is willing to move into these areas they will never improve.
“did i miss anything relevant to this listing?”
No.
I was going to make a comment on whether naming the street after MLK helped or hurt RE property values, or was market neutral, but we got sidetracked.
“It is sad that the neighborhood is not safe. When I drive south on Martin LutherKing drive, there are so many beautiful old houses. I would have loved to live in one of them, but it seems that the neighborhood is a no go zone for most part.”
“did i miss anything relevant to this listing?
sonies – hilarious!!! (the endorphins are now kicking in)
I lived (and still own a rental condo) about 3 blocks from this house. I’ve also lived at 40th and Drexel and now live at 51’st and Blackstone so I know the area pretty well. I happen to be rehabbing a house on Berkeley too and have learned much about that particular block of the neighborhood. It is full of architects, artists, U of C professors, and at least one renound jazz flutist. Also the current Alderman lives there. The neighborhood is just as safe during the day as any North Side neighborhood. I would not walk the streets after dark though but chances are you’d be fine if you did. Things are very quiet. Most of the crime is domestic type or property crimes. There are no stores or gas stations or liquor stores so that keeps things nice and quiet.
We are two blocks from the Lake and 15 mins from the Loop. Plenty of parking, no traffic, large houses, cheap taxes, great architecture, etc. N. Kenwood and Oakland are the best kept secrets when it comes to good value neighborhoods. They are also almost guaranteed to appreciate faster than most neighborhoods when we start to see a housing recovery. The removal of most of the old public housing has helped a LOT. Plus there is an impressive new harbor being built at 31st street that will help. Kenwood, where Obama lives, is completely different. Huge lots, huge mansions, gorgeous streets, etc. Like nothing you’d ever expect. One of the issues about the “South Side” is that everybody refers to the huge regioun South of the Loop as “The South Side”. ie: a man was shot in the face on “The South Side” or a woman was carjacked on “The South Side”. These crimes are usually miles away to the far south or west.
I am pretty sure I was in 4737 N. Long at the end of 2006 or very early 2007. The kitchen was not redone at that time, and I doubt those people did the work, they were an older couple. I believe the family room was used as a dining room at that time, so they have knocked out that wall to the kitchen. The current living and dining rooms are what I would call a double parlor. It is a beautiful house and a very nice lot. I believe it actually has two good sized garages, unless they knocked one down. The only reason we did not get serious about it is we prefer brick and bungalows and really needed a full bath and bedroom on the first floor.
Wife is an UC prof. We currently rent in Hyde Park. I’ve been looking in the area and this one is obviously beyond the “starter” that we can manage. Some random thoughts:
This doesn’t really make sense for UC employee. The reason to be in the area is to walk to your office (and some bus now and then). If you have to get in the car anyways (which you have to at this location), then what’s the point?
I heard that some zoning law limits south kenwood to single family house, so these turn of century houses remain for the likes of Obama. North Kenwood is tougher but I think there is potential. Though the price tag here seem to price in post-gentrification already.
The pretty houses around here (beyond immediate Hyde Park on MLK and Ingleside) reminds me of the New York Harlem area–nice brown/graystones that was left after demographic dislocation, and then preserved because the supposed “bad” location discourages developers and new construction. I fantasize about taking over one of these and restoring it, like polishing my own diamond in the rough. Which makes me wonder, how much do people think gut renovation cost them? 200k?
>>>>Everyone on this site is always searching for deals on great >>>>property in Chicago but it never seems that anyone wants to >>>>make sacrifices and put themselves out there to get the piece >>>>of real estate they have always wanted. Yes, Kenwood north of >>>>47th is not the same as south of 47th, but if no one is willing >>>>to move into these areas they will never improve.
The smart people ARE moving here. I’ve made over 1MM buying and selling distressed properties in these neighborhoods and I’m only talking about 4 property transactions in the last 3 years. I made $120K profit from a condo two blocks away from this house at 43rd and Greenwood. There is more opportunity here than people might expect.
the house at 4737 n long seems waaay overpriced,the guy must think that it’s in old irving or something.i doubt it goes for even 400.
“the house at 4737 n long seems waaay overpriced,the guy must think that it’s in old irving or something.i doubt it goes for even 400.”
Here’s your best sold comp (may need to login):
http://www.redfin.com/IL/Chicago/5447-W-Leland-Ave-60630/home/17177055
Sold for $495k in Aug-10. New construction masonry 5(3 up)/3.5 on a single lot. I think the Long house compares reasonably favorably, depending on what they did with plumbing and electric upgrades.
thanks.i didn’t realize that little area over there was so high.
thanks anon, guess i can kiss 4737 n long goodbye
please stay focused on Real Estate!!! ….That is what attracted all of us to this blog……. you have to scroll through such non-sense.
BenL: “Which makes me wonder, how much do people think gut renovation cost them? 200k?”
If they really did a gut–stripped the place to the studs and redid all the electric and plumbing, etc, etc, etc.–and the place is actually 5500 SF, I don’t see how they could have done it for less than $400k ($75 psf). If not a real gut, then maybe a bit less, and I don’t know that I buy the 5500 number.
The house does NOT have a garage but it has a slab where you can park 2 cars.
I drove by this house today as I live nearby, and it seems like a very nice and quiet block. I’m not sure who the buyer would be either at this price, but even if it comes down quite a bit, it looks to me like the sellers will make a pretty penny.
I love reading all these comments from many of you who know absolutely nothing about this neighborhood except maybe ChicagoJerry. I’ve lived here for four years and would walk the neighborhood at night and don’t have a problem doing it. And yes I’m a minority in this neighborhood. I’m north of 47th street and feel this is this is the friendliest neighborhood I’ve lived in in all of my 20 years in the city and that includes Roscoe Village, NorthCenter and South Loop.
The median income is not $45k and before you bash it learn a little about it not just what you think the “south side” is. Are there pockets of run down and abandoned buildings…yes. Are there a ton oe empty lots…yes. Is there a lack of quality retail…yes. But there is no other place in the city that you can own a house at less than $500k, live two blocks from the lake and be in the loop in 8 minutes. AND have great neighbors.
Is the House too expensive for the neighborhood. Absolutely but don’t criticize a neighborhood if you don’t know the facts….
Thank you Francis! There are things I miss about living on the northside, but I absolutely love living down here. I agree with your reasons for enjoying living down here, and one of the most commonly cited negatives…that nothing is within walking distance while true isn’t that big of a deal. When I lived in Edgewater, in a “walkable” location, I rarely walked anywhere. Who is going to walk to buy their week’s groceries and carry them home? I hate driving all the way to the South Loop to buy them…but I drove to the store when I lived in Edgewater too. Now I drive further, but it doesn’t add time really since there is nearly no traffic down here compared to the northside. I wish more people would wake up to the wonders of living outside of Lincoln Park, Lakeview or even Edgewater and Rogers Park which are FAR further from the city than Bronzeville is.
This wacky property is now under contract.
damn I wish I had enough money to buy this place, maybe in the year 2019 I’ll be able to afford it, right HD?
“This wacky property is now under contract.”
only wacky if you dont understand its appeal.
if you compare it to the todays wicker park cottage for 699k then which property is the wackiest to you?
This wasn’t under contract long obviously….relisted March 17.
“This wasn’t under contract long obviously….relisted March 17.”
under contract again!
Let’s hope this thing finally closes, I am very interested to see what it was able to fetch.
Sold for $715,000