Get a 4-Bedroom SFH in Southport for Under $820,000: 1453 W. Melrose
This vintage 4-bedroom single family home at 1453 W. Melrose in the Southport neighborhood of Lakeview came on the market in April 2018.
The listing says it was built in 1886, which, if correct, would put it among the oldest houses still standing in this neighborhood.
Built on a standard Chicago lot measuring 25×125, it has a detached garage and 3 decks.
There are hardwood floors throughout the first floor and wood trim.
The kitchen has white cabinets, granite counter tops and stainless steel appliances along with a breakfast nook which has a breakfast bar.
Two of the bedrooms are on the main floor with the master suite on the second floor with skylights and its own bathroom with a double vanity.
The fourth bedroom is in the lower level, along with a full bath and the family room, which is carpeted.
There’s also a room called a “sitting room” listed in the rooms that is 19×10 on the second floor. Is this just a big closet?
The house has central air.
The listing says its in the Burley school district.
Originally listed in April 2018 for $899,900, it has been reduced $80,900 to $819,000.
This is a similar price to many 3-bedroom condos and townhouses in the area.
I thought buyers wanted single family homes versus condos/townhomes.
Why isn’t this selling?
Is someone going to get a deal?
David Piche at Re/Max Premier has the listing. See the pictures here.
1453 W. Melrose: 4 bedrooms, 3 baths, 2700 square feet
- Sold in January 1991 for $172,500
- Sold in May 1996 for $355,000
- Sold in June 1998 for $440,000
- Sold in January 2001 for $510,000
- Sold in June 2005 for $749,000
- Sold in July 2006 for $750,000
- Originally listed in April 2018 for $899,900
- Reduced several times
- Currently listed at $819,000
- Taxes of $13,562
- Central Air
- 2 car garage
- Bedroom #1: 19×20 (second floor)
- Bedroom #2: 11×8 (main floor)
- Bedroom #3: 11×9 (main floor)
- Bedroom #4: 10×9 (lower level)
- Family room: 18×18 (lower level)
- Laundry room: 17×11 (lower level)
- Sitting room: 19×10 (second level)
I think the 19’x10′ ‘sitting room’ is the end of the kitchen where they have located the bar/bar stools… really more of a circulation space than anything else… it probably should have been included in the kitchen dimensions…
wow I must be getting old I remember when you could rent a house like this for like 2 grand in the early 2000’s
Our friends toured this house. They said the layout was awkward and the second and third bedrooms were super tiny. I think the layout and finishes are the issue here. A comparable TH at this price point usually had updated finishes. It would take $100K+ imo to update this house, and then you’re in for nearly one million with an awkward layout. I think the $800-900K SFH market is tough. Most are dated and small, so people either save money and buy a TH or increase their budget to buy a $1.1MM updated SFH.
“I think the $800-900K SFH market is tough. Most are dated and small, so people either save money and buy a TH or increase their budget to buy a $1.1MM updated SFH”
Agree, but there ain’t a lot of $1.1m updated SFH. They are likely to be newer, so with more contemporary layouts (like, 3 beds up, none on the main floor) but otherwise with slightly-less dated finishes.
There is a lot to not like about this one:
https://www.redfin.com/IL/Chicago/1213-W-Roscoe-St-60657/home/13381658
But no way it makes sense to pay $900k for the featured house, when you might be able to get the much bigger place for ~$150k more.
Now this on is asking basically $150k for the structure, and going long on land speculation.
“I think the 19’x10? ‘sitting room’ is the end of the kitchen”
It’s at the top of the stairs, outside the MBR. If you go to the “media 1” link in the listing, it’s at about 1:35 in the video.
Hard to tell from the photos, but what Marie says is what I was thinking. It’s tiny — the sq ft has got to be misleading, and that’s even if you include the basement — and has an awkward layout. Where are the three bathrooms and the 4 bedrooms, does it still have a bedrooms on the first floor? (One is in the basement from the photos.) If so, which is pretty normal for a workers cottage with a traditional layout, that cuts into the living space. But trying to fit even three on the top floor would be tight from the look of it, especially if there are two bathrooms (and it wouldn’t surprise me if there’s only one).
It’s the kind of place you used to be able to buy in the neighborhood and there aren’t so many left, but I’m not terribly surprised it’s been hard to sell at that price.
This home could have accommodated a family of 8, with six kids. The two 1st floor bedroom are the “girls” room and the “boys” room. One bunk bed and one single bed per bedroom. Three kids in each bedroom. Before the basement was finished.
Of course, the bedrooms are tiny. This was built in the “dresser” era, before the dawn of “closets”. A child only needed one or two dresser drawers for all their clothes. Also, the beds were non-standard and smaller in that era. Bunk beds were smaller too.
Either someone needs to figure out how to use the home as designed, or reconfigure the home for the 2000’s. In either case, it’s a high price for a small home.
Basically the same style of house but opened up so as to address some of the layout issues, added closets and a second upstairs bathroom, maybe dormered to add upstairs space go for around $1 m. I don’t like this one much, but it’s an example: https://www.redfin.com/IL/Chicago/1145-W-Wellington-Ave-60657/home/13363870
There are so many new construction houses in the area since the basic housing stock are these workers cottages (or in some cases frame 2-flats) with layouts people don’t really like now, but the value of the land itself in the area is so high they aren’t sold for what would be a more reasonable price. 1524 W Oakdale is similar too, although I think that one was likely originally a two flat.
“1145 Wellington”
You might be able to turn this one into that for $250k, but (1) I’m dubious, and (2) it’s not a rational economic decision. Needs to be under the last sale price for that sort of investment to make sense, and then you’re quite close to teardown price.
Oh, I wasn’t intending to suggest you could. It was more musings on why this one isn’t selling and then the general market and housing stock in the area.
“I wasn’t intending to suggest you could.”
I didn’t think you were, and I was (I thought) providing another reason this will have trouble selling–modernizing it would cost too much relative to the potential future value.
At this price there better be insulation and not newspapers stuffed inbetween the studs. Lord only knows what other sort of DIY mess this has been. If it’s been gut rehabbed sure. But 10-15 owners each adding their own lawyer of DIY over 130 years. No way
I am always amazed at the lack of value one gets on the North Side.
Bedrooms are too small and far too much of the living space is in the basement. It also is a bit of a walk to what I’d consider the main part of the Southport corridor, but that’s a bit nit-picky on my part. It is in the basic area.
Still, $820,000 seems like a lot to pay for a small house like this. What’s the market going to look like? If I had $820,000, I might buy a nicer place in Wilmette or Oak Park, with better schools and probably bigger bedrooms and back yard. I know the suburbs aren’t for everyone, but this seems like a stretch even for a dedicated city dweller.
“If I had $820,000, I might buy a nicer place in Wilmette or Oak Park”
If my two choices were this place and (eg) this place in Wilmette:
https://www.redfin.com/IL/Wilmette/1305-Sheridan-Rd-60091/home/22901669
I’d be in the burbs, too.
For $820K for a SFH, I’d go to a part of the city that offers a bit better value, such as Edgewater or Lincoln Square, or even North Center has better options for that price (there are even better value parts of the city, obviously, but those are neighborhoods I’ve considered living in and like). Or of course Oak Park, where you can also get something really nice, and which is a suburb I can imagine living in.
I’m actually surprised you can get a place close to the lake in Wilmette for under $900K. I guess the ones I’ve just happened to look at (since I’ve never been interested in living there) were larger with more land, so a lot more expensive. I’ve learned something today!
“I’m actually surprised you can get a place close to the lake in Wilmette for under $900K.”
Redfin comment makes it sound like the HQ of deferred maintenance. I wouldn’t be surprised if it “needs”** $75k+ in non-aesthetic work.
**including some stuff that you could stretch a few more years, but with some risk of emergent need.
this is a tear down. $800K is lot value. You’d be a fool to dump money into rehabbing this place.
I am no expert on North Shore real estate but my understanding is that its glory days are well behind it. It will always be a premier area but it’s clearly been eclipsed by the city. There’s been declining enrollment in the schools for years and younger families just aren’t moving there. (“Dr. Jerome McKibben stressed that Winnetka is dependent on young families moving into the village to increase or maintain its student population. “Your age structure is too old to have a bunch of births, to put it bluntly,” [when speaking of Winnetka]) https://jwcdaily.com/2016/09/18/enrollment-keeps-dropping-in-winnetka-schools/
My observations are that upper middle class couples prefer to stay in the city after having children rather than move to the north shore, which they were doing in droves as recently as before the great recession. Fewer buyers means lower prices. Secondly, the housing stock is not good. Many houses need extensive renovation as the current owners have lived there many years; many houses are just old, especially outside of the more expensive blocks where money is never an issue. YOunger couples just aren’t that interested in big old home with deferred maintenance and dated fixtures when they can live in smaller, more rehabbed homes in the city. This is a drag on prices. The effect will continue for years as enrollment in public schools up there is expected to decline for a decade or more, at which point, the city may become too expensive driving upper middle class couples back to the suburbs.
“My observations are that upper middle class couples prefer to stay in the city after having children rather than move to the north shore, which they were doing in droves as recently as before the great recession.”
The Great Recession forced a lot of people to stay in their city homes/condos who otherwise wouldn’t have. They couldn’t sell because they were underwater. The results was that many stayed to ride it out. They had kids and didn’t move. They put their kids in the local public school and discovered it wasn’t too bad. Concluded that the city could “work” and never moved out to the burbs.
Now, many city schools actually have decent reputations. Moving solely for the schools is no longer really the issue (at least in most neighborhoods that future North Shore residents would be living in.)
The Great Recession was a game changer for Chicago Public Schools. It got a whole generation of parents invested in the schools.
“Or of course Oak Park, where you can also get something really nice, and which is a suburb I can imagine living in.”
Stephanie- ever look at the taxes on that $820,000 house? You might be shocked.
Oak Park has little retail base so its property taxes are way higher than other suburbs. Hence, all the new construction apartment buildings in the downtown with retail/restaurants on the bottom, all which will add to the city’s piggybank.
Some of the houses in Oak Park look reasonable, until you see that the taxes are double what they would be in Chicago or other suburbs and you re-think it.
As I’ve said in the past, some Oak Park homeowners whose kids have grown, are selling and moving to Berwyn to escape from the high property taxes.
“Still, $820,000 seems like a lot to pay for a small house like this. What’s the market going to look like? If I had $820,000, I might buy a nicer place in Wilmette or Oak Park, with better schools and probably bigger bedrooms and back yard. I know the suburbs aren’t for everyone, but this seems like a stretch even for a dedicated city dweller.”
Dan you should realize that “suburbs” with an El stop(s) aren’t really full suburbs (although you’ll never find Rosemont on this site given it’s housing stock heh).
And I could see people cross shopping this area with Wilmette. But the only people cross shopping with Oak Park are probably out of towners or people unfamiliar with the fact that Oak Park is adjacent to some really bad ghettos in Chicago and the green line goes right through them.
Oak Park is if you want to live next to the city with great public transit but never use it, aside from the Metra and you can get the Metra in most other burbs and cheaper housing and not right next to a really bad ghetto.
Oak Park is under constant siege from the criminal element next door and those who try to pretend not are lying.
“The Great Recession forced a lot of people to stay in their city homes/condos who otherwise wouldn’t have. They couldn’t sell because they were underwater. The results was that many stayed to ride it out. They had kids and didn’t move. They put their kids in the local public school and discovered it wasn’t too bad. Concluded that the city could “work” and never moved out to the burbs.”
I observed this happening in Southport. When I was first here it was mostly kids under 5. After 2008, when people started having trouble selling and didn’t want to sell at a loss, they stayed, as you said, and now the average age of children in the area is quite a bit older and Blaine, etc., are largely neighborhood schools much more than before.
And I know taxes are much higher in Oak Park (I have friends who live there and go on and on about it, and it’s true, and it’s the only ‘burb I even halfway looked in, although I mostly looked in the city). But compared to what you get in many neighborhoods of the city for a SFH, including Southport, it’s still a huge difference. I could get a house that easily outclasses this one (which I think is cute but tiny, has a layout I don’t love, and I’d have to be convinced the fundamentals were reno’d right) for a lot less than $820K, making up for the tax difference.
I agree with HomeDelete that Wilmette doesn’t seem as popular with the young upper middle class professional with kids as it was. When I first moved here I was a summer and then 1L at a BigLaw law firm, and it seemed all the younger partners with kids (and many older partners too) were in Wilmette or thereabouts. A few in the city, a few in Hyde Park with longstanding U of C connections, and others in the Gold Coast or Lincoln Park but with pre-school age kids. Some stayed in the city and did private school, but that was a much smaller number.
Now (although it could be the people I know are just different), I see a lot more in the city, in a variety of neighborhoods, and also more preferring Oak Park (which is quite popular with many people who want to compromise between city and ‘burbs).
My perception re prices in Wilmette was because I know people who bought a nearly $3m house there in 2012 (great location, big cool old place, reasonably reno’d), and did so when their oldest child was about 12, so I assumed it was for New Trier. I don’t personally consider $3m for a house “upper middle” really (these people are pretty well off). There do still seem to be $3m houses selling that are similar, same area, but it certainly does seem that appreciation from 2012 is terrible vs. the city.
Interesting comments RE: suburbs vs. city. As an older Millennial who was looking to buy a SFH in 2015, I considered Lincoln Square, Ravenswood, and Evanston. (I also have family in North suburbs so that was a factor.) Put in offers on four different places (two in city, two in Evanston). Got an accepted offer in Ravenswood but had a disastrous inspection and backed out. It was a decent place in a good location, but still was likely only a 5-year place based on size and school.
Found better value in Evanston although it was still a competitive market for SFHs under a certain threshold in the desirable locations as inventory was terrible. But ended up with a 2500+ sq ft house with a walkscore of 90, less than half a mile to the train which takes me downtown in 30 minutes (shorter commute than places I looked at in Lincoln square), 10 minute walk to the beach, and more. I also drive 20 minutes to many north side neighborhoods with regularity.
So I agree that many millennials have different priorities and want walkable diverse communities moreso than their earlier counterparts, but at some point, the value proposition is strong enough to pull people out of the city. Although Evanston is more like an Oak Park than a Wilmette. Taxes are also insane and have gone up since I moved even — seems like the market is pretty stagnant over the last few years although not sure it’s that different in the city.
But yes, the trend of people wanting more walkable communities with access to amenities is not going away anytime soon. Prices in some north shore communities are the same they were 15+ years ago.
Oh, sigh, I hate it when I’m incoherent. I’d had coffee, too! Anyway, above, I wrote 1L for junior associate, can’t explain why, and just in case it was unclear, junior partners moving to Wilmette weren’t buying super expensive places by the lake, of course.
“Found better value in Evanston although it was still a competitive market for SFHs under a certain threshold in the desirable locations as inventory was terrible.”
I considered looking in Evanston, but my impression was that for a SFH like I wanted in a desirable location you’d be paying just about as much or more as in the places I was looking in the city (similar to yours, a bit broader ranging) and more than Oak Park, which had a lot more inventory (I’m into old houses). And while taxes are somewhat less than Oak Park, they are also up there. But admittedly part of my reason for preferring Oak Park to Evanston as a hypothetical place to move is just that I know people in Oak Park and so have spent more time there and am more familiar with it, and wasn’t sure how I felt about the Northwestern factor. Over and over I do hear people saying they are looking in the city and Oak Park and Evanston, they are often grouped.
Also, since going under contract and then buying, I’ve occasionally gotten a redfin alert for a place in Evanston that was both in a good location and affordable, so if you are lucky they do exist, and congrats on finding one!
We moved to Highland Park from the city in 2002 when our first kid was two (he’s in college now). We had a second kid the next year. We were kind of ahead of the whole recession thing – we sold our condo for a 50% profit after owning it five years (1997-2002). Similar condos in the same building now sell for roughly the same as we sold it for 16 years ago.
We don’t regret moving out here, but we do sometimes wonder if we could have made it work in the city. Schools seem to be a lot better now. Public school wasn’t even in our minds at the time we thought of staying. Maybe we should have had more foresight.
Anyway, it’s true that home values out on the North Shore haven’t recovered much since the recession. Homes in our neighborhood—a walkable, Metra-accessible area around the corner from Ravinia—have been stuck for years. They don’t look much different than they did in the early 2000s. We love our house and neighborhood, and it’s a great place to raise kids, but I do envy those who found a way to make the city work.
North Shore RE prices have been stagnant due to the crazy property tax burden on them vs Chicago. But in the future expect that gap to narrow and they will look more competitive in comparison again (I can’t imagine them going up any more than they already are on the north shore).
Chicago is going to continue to raise taxes on property owners that own places worth more than 250k, which is most of Cribchatter folk. There’s little you can do about it. If you have money the city is going to come for it if you live your life honestly & above table (most of Cribchatter folk).
When Chicago property taxes are 80-95% those on the North Shore, either Chicago prices will have to come down or North Shore will have to rise.
I’ve worked with many parents with kids that live in Chicago and the amount of time & effort they devote to navigate the CPS maze is definitely non-trivial. On a time value basis it likely eclipses any property tax savings they’re getting or at least most of it.
“I’ve worked with many parents with kids that live in Chicago and the amount of time & effort they devote to navigate the CPS maze is definitely non-trivial”
Depends what you mean by non-trivial. I’d say it has been ~10 hours per year, aside from getting smart–which is, for me at least, just focused reading that would have otherwise been un-focused reading of something else.
ps: It is definitely harder for others, but if we’re talking about the subset of folks who are legit choosing bt staying and moving to north shore communities, it isn’t different of necessity.
“I’ve worked with many parents with kids that live in Chicago and the amount of time & effort they devote to navigate the CPS maze is definitely non-trivial”
My kids go the local and good suburban school walking distance from my house. My kids get invited to all the birthday parties and block parties, we run into local families at the library, grocery store, outdoor concerts, at the restaurants. We see other families we know at the playground, the kids all become friends, and the kids run from house to house and park to park. I see the same parents everywhere I go and I get to know them. There’s some real value to meeting like minded families in the neighborhood interacting with them all around the community. I’m not sure if you get that navigating the CPS system. Sure the local elementary schools you most definitely do. But driving 5 miles across the city to drop your kid off at some school where no one on your block attends leads you to miss out on the other community interaction you get from attending school in the local community. That’s just my observation.
“I’m not sure if you get that navigating the CPS system.”
CPS for every year of school (yes, including HS), and we have everything you mention.
I’m an Oak Parker and love it. Left the city with no kids mainly due to wife’s commute to western burbs. Haven’t regretted it and appreciate the community more than ever now that we have kids. The amount of kid / family oriented amenities we have in walking distance or less than 5 minute drive is insane.
Literally nice parks like very other block.
Several public libraries
Two massive community swimming pools.
Ice skating rink.
Gymnastics Center.
OP conservatory (even easy to get to Garfield Conservatory).
Thatcher Woods Center
Block Parties
Vibrant walkable downtown and neighborhoods
Tons and tons of other organized events – movies in park, camping in parks, parades, etc. Too many to even list.
Green line, Blue Line, Metra, or easy drive. Your pick, all take about the same time downtown. Yeah, being next to Austin isn’t great, but we haven’t had an issue beyond petty crime no different from any city neighborhood. Crackhead or junk trucks will steal your lawn mower if you leave your garage open over night. The police force in OP is on point though. Recently had them catch some porch pirates stealing some deliveries from us.
Evanston is the only suburb we’d even consider. Enjoyed living there in grad school. We’ve considered moving but just don’t see other communities offering as much. Think we will be here for the long haul.
The taxes do suck though, but you don’t need to worry about schools so I guess it is trade off. Right now, I think the taxes are manageable and a good value relative to everything the community offers. As home values have risen though, I think we are starting to see a less liberal demographic in Oak Park that is attempting to reign in some of the spending.
HA!^ Wasn’t there some d-bag commentator on CC who just said that Oak Park is a sh*thole because it’s next Austin?
The exact words were:
“Oak Park is under constant siege from the criminal element next door and those who try to pretend not are lying.”
“HA!^ Wasn’t there some d-bag commentator on CC who just said that Oak Park is a sh*thole because it’s next Austin?”
In this very thread, even.
Let’s try to keep it civil here guys.
“HA!^ Wasn’t there some d-bag commentator on CC who just said that Oak Park is a sh*thole because it’s next Austin?”
Yup. I said its not as quaint as people like to make it out. And Russ can sing the convenience of the Green line all he wants but his wife isn’t riding it without him and he isn’t riding it after dark.
Younger people might associate the Green line with the Morgan stop but I can assure you past Ashland it is a different demographic and experience.
“Depends what you mean by non-trivial. I’d say it has been ~10 hours per year”
And this includes a bused commute or are you counting the transportation logistics? The people I work with with kids in CPS & private schools are always changing their work schedule around to accommodate the transportation logistics. That’s part of the non-trivial time amount, not the 10 hours per year.
“Younger people might associate the Green line with the Morgan stop but I can assure you past Ashland it is a different demographic and experience.”
Really?
I’ve ridden the Green Line many times on Saturdays and Sundays, during the day, from the Loop to Harlem without any thoughts of it being any less “safe” than riding the Red Line at any time of the day.
Granted, I would not ride it late at night. But I don’t ride the brown line late at night either.
You can always ride in the front car with the driver. Women know to ride in the first car. It’s not going to save you from being mugged, but it’s a little bit safer.
“North Shore RE prices have been stagnant due to the crazy property tax burden on them vs Chicago.”
I partially disagree, as Oak Park has skyhigh taxes and it’s doing fine.
North Shore is:
1. Old houses that haven’t been updated in 20 to 30 years (sometimes more).
2. Outdated layouts of those old houses. No one wants a closed kitchen in the back of the house and no way to “open” it to the rest of the living space.
3. Too far from Chicago (depending on suburb). Look at the inventory in Lake Forest. Awful. The jobs, and people, are all moving into the city, not out of it. But this doesn’t explain why even Wilmette and Winnetka are suffering. I think it has to do with #1 and #2.
4. Some of the towns don’t have walkable downtowns with restaurants. Those that don’t, will suffer.
Millennials are the next set of buyers. Their priorities have changed. Could stay like that for 10+ years. Buyers beware.
“When Chicago property taxes are 80-95% those on the North Shore, either Chicago prices will have to come down or North Shore will have to rise.”
Bob, you assume that the North Shore is the only option. It’s not. Buyers have been moving to the western suburbs for years. Schools just as good. Metra just the same. Walkable downtowns. Taxes are, sometimes, lower.
But the property taxes ARE an issue. Look at the bungalows near Ravinia in Highland Park. You can get one for around $400,000. That doesn’t sound so bad until you look at those taxes and it’s another mortgage payment.
Those big St. Charles homes (same with Burr Ridge mansions) were built by Baby Boomers. Now they’re trying to downsize.
Gen X already has their homes so they’re not interested. Would have to lure in Millennials. And they don’t want to be out there with the 5 bedrooms, 6 bathrooms, several acre lots over an hour away on the train to downtown.
One of my best friends lives in Oak Park. She lives (intentionally) near the Oak Park stop and rides it to work alone all the time (she’s single, lives on Grove south of Chicago). She also rides it the evening — she goes out with us in Chicago a lot and we normally drop her at a stop.
We do tell her to ride in front, which is what I do on the Red Line at night (I see no issues on the Brown Line, at least not where I ride it, although I am in the habit of riding in front anyway due to where I like to get off when commuting to W&W).
Re: North Shore, I think it’s just people wanting to live in the city. I have season tickets to Writers Theatre and like Glencoe, which has a little downtown with restaurants and a wine shop, but is still really old demographically. It’s not that far from Chicago, especially on the train (and Wilmette is obviously less far). I think it’s just wanting to be in the city. Evanton and Oak Park have managed to compete somewhat (they sell themselves as city like, Berwyn is trying to), other burbs have not in the same way.
When I stated NS I guess I also meant the western burbs as well, should’ve added that. Yes they are very similar but my point stands.
“That doesn’t sound so bad until you look at those taxes and it’s another mortgage payment.”
Yup saw an estate sale in Wilmette recently. Currently at 425k for a 2/2 that needs a lot of work. But property taxes of…wait for it…13k.
I find it a bit second worldish here the way property taxes are handled and how it requires hiring a law firm or significant time & effort on behalf of the homeowner to appeal them to get them lowered instead of them automatically being lowered. And also the byzantine nature of the way they are calculated. Likely whoever buys this house will have to fork over several more grand to appeal those taxes as they won’t automatically be adjusted down based on the recent sales price.
“And this includes a bused commute or are you counting the transportation logistics? ”
Why would I count a bused commute? My kids never have ridden the bus to school.
Does transportation logistics include finding a raincoat when it is raining? Ok, maybe you got me there.
” fork over several more grand to appeal those taxes ”
Also not how it works. Standard Peter/Paul theft situation, as so much in Illinois.