Get a Historic 3-Bedroom West Town Bungalow For Under $180,000: 844 N. Damen
This 3-bedroom brick bungalow at 844 N. Damen in West Town just came on the market listed at $178,900.
It is a Freddie Mac Homesteps property.
The listing says “property needs repairs.”
Built in 1900, it is on a smaller than standard 25×104 lot. It doesn’t have a garage but the listing says there are parking spaces.
All 3 bedrooms are on the second floor.
There is an unfinished basement.
The listing has no pictures of the kitchen and/or baths (which I’m sure is obvious once you look at the other pictures.)
Is this a deal for the location for someone who is willing to renovate?
[By the way- the last filed lis pendens in the public record was in April 2009. Anyone in the neighborhood know how long this house has been empty and boarded up? Has it been 2 or 3 years?]
Gerard Lewis at Better Homes for America LLC has the listing. See the pictures here.
844 N. Damen: 3 bedrooms, 2 baths, 1800 square feet
- Sold in May 2005 for $350,000
- Sold in August 2005 for $425,000
- Lis pendens filed in November 2008
- Lis pendens filed in April 2009
- Recently came on the market as a Freddie Mac Homesteps property at $178,900
- Taxes of $6269
- No central air
- Bedroom #1: 12×14 (second floor)
- Bedroom #2: 12×8 (second floor)
- Bedroom #3: 10×7 (second floor)
2-3 years sounds about right with the banks’ processes. That’s about how long they’re boarded up on my block before they go bank sale.
Crazy that that little place may have had three units in it at some point–look at the mailboxes.
It’s right around the corner from my condo. It’s been empty as long as I’ve been here (about 4 years) but I think it was on the market before, probably in 2009. At that point, I don’t think it was boarded up — I think the boards have been there for at least two years though.
That’s basically land value, though I don’t see a lot of new construction in the immediate area. Could be because Damen is so busy you’re not likely to be able to sell a nice expensive home there.
Reminds me a lot of this place…
http://www.redfin.com/IL/Chicago/608-N-Damen-Ave-60622/home/14104635
These small houses right on Damen were somewhat desirable during the boom, but too many options today for someone looking to buy a SFH on a busy street.
Tear it down, build a three flat!
“Tear it down, build a three flat!”
What’s the zoning? If you can put commercial in the ground unit this is actually the ideal use for this lot IMO.
For the sake of the neighbors, I hope this sells quickly. Having a boarded up property on your block can’t help property values.
It also looks like they bricked over the former front door, using a different color brick.
How does the Homepath program work? Don’t you have to buy it and live in it. Does it preclude tearing it down. If so, then the program is preventing buyers from putting the land to its most economical use (multi-family or commercial).
multiple offer situation – seriously, morons – don’t be fooled.
a local…yes, it has to be a occupied as a primary residence 60 days after closing and for at least one year. Homepath/Freddie Mac makes you sign an affidavit saying you’ll do as such.
My wife and I noticed this house a few weeks ago when we were driving by… I think it’s got nice bones from the outside, and at that price there’s be a lot of room to remodel the interior. From the photos, it’s actually not as horrific on the inside as I’d expected… we it up to me, I’d buy it and put another $200k or so into fixing it up. I haven’t convinced her to consider that neighborhood yet, or embarking on a major rehab project for our first home.
@ChiBuilder – They are right in the middle of putting an entire second story on that one. I guess somebody liked it enough to put significant money into it.
when the groove was a teen he used to hang out on the front stoop, across the street and a few house south.
Used to play underaged pool at the pool hall on chicago ave over here too. (is that place still open?)
Its a short lot and dont think any vintage detail on the inside is left. if foundation is sound and no mold issues then not a bad place to fix up if the price goes lower.
cant you get new around here for 350k?
“Its a short lot and dont think any vintage detail on the inside is left. if foundation is sound and no mold issues then not a bad place to fix up if the price goes lower.
cant you get new around here for 350k”
I don’t know about new for $350k here, the Smart Tech home at 519 N Oakley is pending at $499k.
You should be able to find a decent rehab on a standard lot/less traffic street for $400k. That said the price is about right for this one (not a bidding war) and a rehab buyer should like the exterior enough to save this place and deal with the short lot on Damen.
http://www.redfin.com/IL/Chicago/2220-W-Huron-St-60612/home/14104783
Another nice one…
http://www.redfin.com/IL/Chicago/1810-W-Huron-St-60622/home/14105034
Not brick, but “SOLD BEFORE PRINT”
http://www.redfin.com/IL/Chicago/1921-W-Superior-St-60622/home/14105038
“Groove77 (April 23, 2012, 10:20 am)
cant you get new around here for 350k?”
Hook me up with your builder please. And gift me a lot.
“The listing has no pictures of the kitchen …”
I’m pretty sure that pic #4 used to be the kitchen.
the #4 pic is the kitchen. apparently kitchen and baths need to be gutted to the studs (roof fell in from water damage). what do you guys think it’s worth with that info?
“roof fell in from water damage”
Roof? Or ceiling? Makes a big difference.
“Bradford (April 23, 2012, 12:33 pm)
“Groove77 (April 23, 2012, 10:20 am)
cant you get new around here for 350k?”
Hook me up with your builder please. And gift me a lot.”
arent those modern, same everywhere, new homes that are pooping up in humboldt and over here going for 350k-400k?
i know those homes have different price points considering lot value but you would think a lot in east humboldt would be worth more than a same size west town one
what is this, shitty overpriced property day on cribchatter? I however like this better than the post-graduate 400-level ‘the finer points of property in Lincoln Park real estate’ class Sabrina taught last week. I’m still waiting for mt greenwood week.
“Groove77 (April 23, 2012, 1:15 pm)
i know those homes have different price points considering lot value but you would think a lot in east humboldt would be worth more than a same size west town one”
Precisely the opposite, actually.
“pooping up in humboldt ”
Heh.
“Precisely the opposite, actually.”
really? your probably right but if i had a choice between the two i would rather live in east hum than west town (and really who the heck calls it west town? never heard it called that till the hipsters started moving there)
“Groove77 (April 23, 2012, 10:20 am)
cant you get new around here for 350k?”
Hook me up with your builder please. And gift me a lot.”
“arent those modern, same everywhere, new homes that are pooping up in humboldt and over here going for 350k-400k?
i know those homes have different price points considering lot value but you would think a lot in east humboldt would be worth more than a same size west town one”
See my reference to 519 N Oakley… so my guess is there is a $100k premium for these in UK village.
“anon (tfo) (April 23, 2012, 1:32 pm)
“pooping up in humboldt ”
Heh.”
i guess a freudian slip, i had taco burrito king and few beers for dinner last night.
“See my reference to 519 N Oakley… so my guess is there is a $100k premium for these in UK village”
Yep!!!! those places popping up. thanks chi builder
personally i dont get it, imo i find the opposite to be more of value.
“Groove77 (April 23, 2012, 2:00 pm)
personally i dont get it, imo i find the opposite to be more of value.”
Further from the Loop, closer to the ghetto. What’s not to love?
“Further from the Loop, closer to the ghetto. What’s not to love?”
1.5 miles further really? (cue anon for the exact distance round to wind and tectonic plate variances)
um neither are close to “the ghetto”, if you think so you really need to see a ghetto.
and i think in east humbolt you are closer to more interesting and fun things.
but hey to each is own or what ever. just saying west town (really who calls it that) is just as boring 20 years ago as it is today. its just way safer now.
“1.5 miles further really?”
What locations are we comparing? This Chicago/Damen and where in East HP/West BT?
“What locations are we comparing? This Chicago/Damen and where in East HP/West BT?”
lets say one block south of the actually park and chicago/damen
You should offer to drive her around. I think she’s mentioned that she’s carless and needs to see the place in person to snap a photo.
“what is this, shitty overpriced property day on cribchatter? I however like this better than the post-graduate 400-level ‘the finer points of property in Lincoln Park real estate’ class Sabrina taught last week. I’m still waiting for mt greenwood week.”
“lets say one block south of the actually park and chicago/damen”
Right next to the hospital? or further west, just up the street from Bradford?
Either way, the non-driving commute to the loop sux from both locations, but if you worked more river north-ish would actually see Chicago/Damen as preferable, if one doesn’t mind the 66.
what is the 66?
“Groove77 (April 23, 2012, 2:51 pm)
lets say one block south of the actually park and chicago/damen”
One block south of Humboldt Park proper? Oof. Chicago&Damen is preferable by light years to that.
(and I live nearby as Anon indicated – though not further West)
I think this got boarded up around Feb. 2011. I had seen a guy going in and out of the place from time to time so assumed someone was living there but may have been a rehabber.
I don’t think you can do a three flat because of the shorter lot? You could do like a 2.5.
Also, street is zoned B3 I think so could have value as a work/live type thing.
“If you can put commercial in the ground unit this is actually the ideal use for this lot IMO.”
Midblock 25′ retail is a hard sell. Alot of that stuff sits and sits, before somebody leases it. Developers would prefer to keep the FAR and height but get a rezoning or variance for all residential, they want to build, sell and be out, not be left dealing with an unwanted mid-block empty storefront.
“Midblock 25? retail is a hard sell.”
Perhaps not on these few blocks between Chicago & Augusta? I see one vacancy and it looks like it will be opening soon. Most have been around for a bit so I assume are profitable.
“How does the Homepath program work? Don’t you have to buy it and live in it. Does it preclude tearing it down. If so, then the program is preventing buyers from putting the land to its most economical use…
a local…yes, it has to be a occupied as a primary residence 60 days after closing and for at least one year. Homepath/Freddie Mac makes you sign an affidavit saying you’ll do as such.”
I may be wrong but I believe that’s only a restriction during the first 15 days – the First Look Program. After that investors can buy it.
This is a Homesteps property, not a Homepath. I don’t know the restrictions of a Homesteps property, but with a Homepath the owner occupier restrictions only apply to offers received within the ‘first look’ period, and then they only make you stay for a year if you receive closing assistance from them, with a penalty if you sell earlier. An investor can buy, but only after the first look expires.
“what is the 66?”
The bus line.
The commute to the Loop isn’t actually so bad from here. The 66 is slow when you head all the way down to MI Ave, but to the Blue Line at Milwaukee, it’s about 7 minutes. 66 to the Blue Line is a bit of a frenetic commute in the morning, just because both trips are so short, but I can get to the Loop in about 15 minutes when the stars are aligned. If there’s a delay, it might be 30. I’ve already seen some people looking at this house — I think this will go quickly.
“Right next to the hospital? or further west, just up the street from Bradford?
Either way, the non-driving commute to the loop sux from both locations, but if you worked more river north-ish would actually see Chicago/Damen as preferable, if one doesn’t mind the 66”
sorry i meant to say one or two blocks EAST of the park
” i meant to say one or two blocks EAST of the park”
So, you’re pumping West Bucktown?!?!!?? What happened to our Groove?
“So, you’re pumping West Bucktown?!?!!?? What happened to our Groove?”
i refuse to call it west buck, and if anything western would be the dividing line.
either way i would never pay 400k+ to live in either hood.
“Groove77 (April 24, 2012, 8:59 am)
sorry i meant to say one or two blocks EAST of the park”
Still a very sketchy neighborhood.
IMHO to find a better neighborhood than Chicago and Damen that’s West of Western, you’d have to be North of Milwaukee. Smith Park is the only enclave in the Southern region West of Western that I’d live in, and it’s still not as good as the Chicago and Damen area.
“Still a very sketchy neighborhood.”
agreed, it is a bit rough still the difference in sketchiness between chicago/damen is not great enough to discount North/Western.
its just personally i find the north/western a more interesting spot than chicago/western
My friends went to look at this and said it was a tiny piece of crap.
This house fell out of contract and is back on the market in case anyone was interested in it.