Get A 3-Bedroom In Roscoe Village $39K Under The 2002 Price: 1801 W. Addison
This 3-bedroom at 1801 W. Addison in Roscoe Village has been on the market since July 2012.
It has an open living/dining room with hardwood floors.
The kitchen has maple cabinets, granite counter tops and stainless steel appliances.
It has the amenities buyers look for including central air, washer/dryer in the unit and parking.
Yes, it is directly across from the Addison Brown line El stop.
The building is between the Metra tracks and the El tracks.
This unit was originally listed in March 2009 but withdrawn in 2010.
It has now been reduced about $100,000 and is listed $39,000 below the original purchase price in 2002.
The listing calls it an “insane” price reduction.
Is this a deal?
Eric Marcus at Eric Marcus Real Estate Group has the listing. See the pictures here.
Unit #3E: 3 bedrooms, 2 baths, 1500 square feet, 1 car parking
- Sold in November 2002 for $389,000
- Originally listed in March 2009 for $449,000
- Reduced and then withdrawn
- Re-listed in July 2012 for $384,900
- Reduced
- Currently listed at $350,000
- Assessments of $228 a month
- Taxes of $5374
- Central Air
- Washer/Dryer in the unit
- Parking included
- Bedroom #1: 18×12
- Bedroom #2: 16×11
- Bedroom #3: 11×9
Oh, boy… a building wedged between Metra to the East and the L to the West! Sign me up!
It’s a stretch to call this Roscoe Village.
I believe it’s technically Roscoe Village, because West Lakeview ends at Ravenswood, but whatever.
I have a personal vendetta against this whole project. When it was built, Daley decided at the last minute to sell to the developer. It was originally going to be a Metra, Brown Line hook up. Which would have been great IMHO. I live near here and would have prefered to take the Metra into work.
At any rate, for the property in question…..$335 would be okay.
Neither Roscoe Village nor WLV can technically be anything, those aren’t official designations, just neighborhood names.
I just don’t see/feel any connection between this intersection and Roscoe Avenue’s main drag, which is what defines RV.
“I believe it’s technically Roscoe Village, because West Lakeview ends at Ravenswood, but whatever. “
“I believe it’s technically Roscoe Village”
Technically, Roscoe Village doesnt exist. Doesnt say “RV” to me in any way.
I bet the owner never imagined they’d be listing under 2002 new construction price. It’s gotta be a kick in the teeth. Remember when people use to compete to buy new construction, to get in ‘under value’? My, have times changed!
I toured a unit in this building when it was first constructed. The sound proofing was very good.
Guys, don’t get hung up on the “official” community area names. They were defined by some research group at UofC in the 1920s and the only changes since they were the addition of O’Hare (when RJD annexed the land) and splitting Uptown and Edgewater into 2 areas in 1980.
For this property, community area is North Center. Neighborhood is Roscoe Village (barely), since generally one would say roscoe village is ravenswood to western, belmont to addison, putting this right at the NE corner of that.
From a reality perspective, this location is terrible. As already mentioned, it’s in the highly-not-coveted strip between the Metra and Brown Line, it’s at a stop. Master looks out at the Metra tracks (practically at track level). LR gets Metra and Addison views. It’s at a busy intersection, the traffic on Addison backs up by this all the time (not just around Cubs games, every day at rush hour).
Out your back door, you have this gem:
http://www.redfin.com/IL/Chicago/1804-W-Eddy-St-60657/home/13386894
that Sabrina featured a while ago:
http://cribchatter.com/?p=8409
$3.75M then, now $2.5
No, just no.
I remember seeing these go up around the time I was thinking of buying a condo. I thought it would be cool to be close to the El and across the street from Tiny Lounge. Either it was too early in my condo search, i was priced out, or both so I passed. Good thing too as the tiny lounge is no more.
@Trudi tell me more. Was that instead of the condo building?
“Daley decided at the last minute to sell to the developer. It was originally going to be a Metra, Brown Line hook up”
I would buy this place today — if I could sell my 2 bedroom vintage condo. I grew up in the city and train noise is nothing. Plus, this building does have good sound insulation.
“the tiny lounge is no more.”
Merely moved to Leavitt and Montrose.
Icarus-Yes that was instead of the Condo building. There was a car wash on the spot previously and both the CTA and Metra had expressed interest in doing a joint development and train transfer point there. The Cubs had also expressed interest in the Metra stop since that would be good for game days and would get some of the traffic concerns off their backs.
I believe Daley even held a press conference on the site to talk about it and then …..welll, Chicago politics errr….developer deep pockets went to work and voila! A condo building.
Trudi —
I agree with you. A metra stop here would add so much value to the neighborhood. I’d actually move here or to Southport if there was a metro stop. The CTA takes too long. My commute is actually shorter from Wilmette.
“Chicago politics errr….developer deep pockets went to work and voila! A condo building.”
Was this Matlak or Schulter at the time?
Schulter was the alderman a block away at the time – not sure where exactly the ward line ends. I had to deal with his office on one thing, and I felt slimey afterwards.
Seems like a decent deal if the train noise isn’t a significant problem
it was matlak at the time.
“it was matlak at the time.”
Well, that pretty well explains everything.
I remember the rendering showing that the bays would be covered in coppper and being seriously disappointed when the green-painted aluminum showed up.
You know, if the soundproofing was done well I’m amazed they didn’t bother to note that in the listing – that’s a big deal given the L proximity.
Nice area.
Not too bad inside, though I don’t like that when you walk through the front door, you’re right in the living room, with no entry-way or foyer. That seemed to be common with 1990s/2000s buildings. Agree I wouldn’t want to be between the tracks, and this area doesn’t seem very Roscoe Village-like to me.
I know why the RV designation made me wince – this intersection would be the southern boundary of what we used to call Ravenswood. I know that with the renaming of the Ravenswood line to the Brown Line this is old/irrelevant news to many, but Ravenswood’s identity was much stronger than Lincoln Square’s back in the day, and it’s still hanging in there despite massive encroachment on all sides.
For how long, who knows… as contrary IMO to the opinion above dismissing the Community Areas, those are what will stand the test of time – the resurgence of dismally-named North Center (aka Northcenter) being the proof.
Two very excellent pieces well worth reading:
http://chicago.straightdope.com/sdc20100225.php
http://www1.chicagoreader.com/lincoln_square/intro/
I love all the commentary! This is my listing. Nonya is correct about the borders of Roscoe Village according to several neighborhood maps I have seen. The neighborhoods of Chicago are very fluid. There are no fences that determine borders just major streets I guess. Even so, would someone say the 3128 N. Damen is not Roscoe Village just because the “border” ends at Belmont (3200N)?
Sabrina – Thanks for posting this! I am going to check Crib Cchatter more often.
Skeptic – I mention the soundproofing in my YouTube video comments. I also did a quick video where the actual Metra goes by during the video. http://www.youtube.com/watch?v=ZMZw0vrW8gA. We only have so many characters to put in our MLS descriptions but I will see if I can tweak it to include that. Great feedback.
My client lived there for 8 years before moving to the burbs and has rented it out the last couple of years. The tenants are moving because they bought a foreclosure somewhere in the burbs but they loved the place too for the last 2.5 years. They both say noise from the trains is absolutely not an issue. I think only 2 occupants in 10 years is some proof that its not a big deal or my client would have sold in 2006 when it was worth 475K!
I also did a quick video where the actual Metra goes by during the video. http://www.youtube.com/watch?v=ZMZw0vrW8gA. The building is well sound proofed and you can tell when the train goes by. I lived adjacent to the red line/brown line combo for 8 years at Wrightwood/Lincoln/Sheffield. It was SO MUCH LOUDER and the train comes by probably 300x/day in one direction or another on a loud steel track. People still buy those condos all the time albeit at a discount to the market if the same condo was a block away.
Very interesting about the history of the project. That would have been an amazing place for the switchover to the Metra there and for the Cubs. I had not heard that before.
Nicholas – would love to talk to you about getting that vintage condo sold so you can buy this one!
Eric Marcus
Eric Marcus Real Estate Group
Your Real Friend in Chicago Real Estate
773-244-1110
esmarcus@sbcglobal.net
*whoops, one link too many in first try:
know why the RV designation made me wince – this intersection would be the southern boundary of what we used to call Ravenswood. I know that with the renaming of the Ravenswood line to the Brown Line this is old/irrelevant news to many, but Ravenswood’s identity was much stronger than Lincoln Square’s back in the day, and it’s still hanging in there despite massive encroachment on all sides.
For how long, who knows… as contrary IMO to the opinion above dismissing the Community Areas, those are what will stand the test of time – the resurgence of dismally-named North Center (aka Northcenter) being the proof.
Two very excellent pieces well worth reading:
http://chicago.straightdope.com/sdc20100225.php
Second:
http://www1.chicagoreader.com/lincoln_square/intro/
So does this location belong to a sub neighborhood in the @fo-skeptic chicagoview? And where are the NE boundaries of roscoe v?
“3128 N. Damen is not Roscoe Village just because the “border” ends at Belmont (3200N)? ”
Correct. That’s a hop, skip and a jump from Hamlin Park, which is not some mushy/fluid concept, but an actual massive piece of infrastructure and programming (and a pool!) that pre-dates the Roscoe Village branding efforts by oh, a century.
Don’t get me wrong, I *love* Roscoe Village. But you cheapen and water it down IMO by extending it in all directions and in a fashion that has absolutely nothing to do with the main drag on Roscoe. You don’t get off at the Addison brown line stop to go to Roscoe Village, and the L stop is obviously a big honkin’ deal as far as this address/intersection is concerned.
I understand this is all semantic to a degree, I just find it a bit puzzling when IMO a totally desirable neighborhood/location in its own right gets tacked on to another one as an after-thought. St. Ben’s or Ravenswood would be a much more accurate tag for this intersection – this is really a gateway to a whole bunch of cool neighborhoods (and Wrigley), which I personally think is hugely appealing.
Maybe a better way of looking at this is, what exactly is the perceived value/uniqueness of living in “Roscoe Village” in 2012? It has to be more than just prestige AFAIC.
School enrollment borders are certainly what I hear many talk about, as it seems like much of RV’s growth has been driven by people who started their life in Chicago in apartments in LP or LV and have kids or want to put down roots via home or condo ownership.
Oh, and glad if I could be helpful re: the soundproofing. I do think that’s a pretty big deal, I can’t tell you how many people I know have an inherent bias against “too close” to a train, even though what they are really concerned about are actual decibel levels – and those decibel levels can be addressed.
The Brown Line is a bit trickier than the other lines due to the winding nature, which means the volume levels vary considerably, as when the trains hit those turns they squeal a bit.
“Even so, would someone say the 3128 N. Damen is not Roscoe Village just because the “border” ends at Belmont (3200N)? ”
I’m with skeptic–that ain’t RV, and stretching it like that cheapens the neighborhood designation (kinda like the West Bucktown thing; also, of course, 31xx Damen is the heart of NorthCostCo, and I gotta fight for my brand). However…
“St. Ben’s … would be a much more accurate tag for this intersection”
What’ve you been smoking, my friend? This intersection is *much* closer to St Andrews than it is to St Bens. Calling it “St Bens” is nutso.
Nothing, unfortunately, it’s a work day. : P
And true, but St. Ben’s has been a neighborhood tag for ages, when RV was just starting to appear in Chicago’s consciousness via lptrixie.com.
“What’ve you been smoking, my friend? This intersection is *much* closer to St Andrews than it is to St Bens. Calling it “St Bens” is nutso.”
Can we shorten NorthCostCo to NoCoCo to make it even trendier???
“Can we shorten NorthCostCo to NoCoCo to make it even trendier???”
Wouldn’t want Conan to feel unwelcome.
@skeptic
“You don’t get off at the Addison brown line stop to go to Roscoe Village, and the L stop is obviously a big honkin’ deal as far as this address/intersection is concerned.”
You’re correct, you’d get off at Paulina, which is a whopping block closer to Roscoe/Damen (3 blocks vs 4) than Addison.
“St. Ben’s or Ravenswood would be a much more accurate tag for this intersection”
This is a lot closer to Roscoe/Damen than it is to Irving/Leavitt.
Methinks you have this further north in your head than it is.
“Methinks you have this further north in your head than it is.”
I agree – but I’m looking at it more from a live/work flow perspective. If you are living at Addison, Lincoln & Ravenswood, are you spending a lot of time going to RV’s main drag? I freely admit my bias here, but I don’t see what RV’s main strip has to offer that you can’t find in greater number up and down Lincoln.
Actually, that’s really it. Lincoln trumps Roscoe, in every way, shape and form.