Have Prices Fallen Off a Cliff In the Last 18 Months in Uptown? 918 W. Winona
Nearly 2 years ago, in January 2009, we chattered about an “affordable” 1-bedroom vintage unit in the midrise at 918 W. Winona in the Margate Park neighborhood of Uptown.
Back then, “affordable” was anything listed under $200,000.
At the time the unit was listed for $150,000 or you could rent it for $1200 a month.
See our prior chatter and pictures here.
It sold in June 2009 for $128,000, or $6,000 under the 2003 purchase price.
Currently, there are 5 units for sale in the building, with 3 of them being 1-bedrooms.
The most expensive unit is listed at $105,000 and the cheapest 1-bedroom for $40,900.
Interestingly, the $40,900 1-bedroom was mentioned in the prior 2009 chatter by “G” as having been rented out in June 2008 for $1000 a month.
Unit #305: 1 bedroom, 1 bath
- Sold in July 2000 for $53,500
- Sold in January 2001 for $73,000
- Sold in December 2003 for $121,000
- Originally listed in May 2007
- On and off the market
- Was listed in September 2010 for $50,400
- Reduced
- Currently listed for $40,900
- Assessments of $296 a month (includes heat and cable)
- Taxes of $577
- No central air
- No washer/dryer in the unit
- No deeded parking
- Andre Bennett at Royal Crest Realty has the listing. See the listing here (no interior pictures.)
Or check out Unit #302, a 1-bedroom short sale. It has a separate dining room and crown molding in the living room.
Mario Greco at Prudential Rubloff has this listing. See the pictures here.
Unit #302: 1 bedroom, 1 bath, 821 square feet
- Sold in June 1988 for $11,000
- Sold in October 1990 for $13,500
- Sold in May 1998 for $39,500
- Sold in July 2002 for $134,000
- Sold in March 2006 for $175,000
- Originally listed in September 2010 for $130,000
- Reduced
- Currently listed as a “short sale” for $99,000
- Assessments of $344 a month (includes heat and cable)
- Taxes of $1,081
- No central air
- No washer/dryer in the unit
- No parking
What will be the bottom in prices for this building?
Are any of these units deals?
Well, I guess Uptown really is headed for pre-2000 nominal prices.
Wasnt there a a shooting over here on halloween? 5400 west or 4000 west something?
if thats the case i can see why prices have been falling
“Wasnt there a a shooting over here on halloween? 5400 west or 4000 west something?”
Wot?
It was on Montrose, at like 1200 west. Dude lived near-ish here, I think.
oops, not west NORTH. and if you said it was montrose that 4400 north so i was close.
the dad got hit bad right? did he make it?
That building is in pretty bad shape, my understanding the condos are cash only unless you can find some creative type of portfolio type lending. I was looking at a lot of condos in the area and eventually had to move on cause I was having time finding a bank that would do a loan on any of them.
Does anyone know of a bank that will do non-warrantable condo loans to for an investment property?
“the dad got hit bad right? did he make it?”
3 kids. 13, 17, 17. 20 yo shooter, driving by. Sounds like the 17 yos were the intended target.
Yikes, im starting to rethink the idea of buying in uptown. There was a row house I almost went under contract on that we chatted about here, but then literally a kid go shot on the corner and i walked away.
Does anyone know how to check to see if the property you’re renting is in foreclosure? I don’t have the PIN.
Thought you owned a studio in the GC Dollface? Did you finally sell and move on?
“It was on Montrose, at like 1200 west. Dude lived near-ish here, I think.”
Actually there were two reported. . . the one you mention was at Sunnyside & sheridan, the other was actually only a couple blocks away from the last uptown place featured here (4728 Malden).
But that isn’t what would give me concern about buying in this hood, as much as the buildings at the end of this block, the prospect of patronizing the Argyle L stop, and having to deal with all the constantly visible losers in the immediate area (I’ve never seen Foster and Sheridan without them). But why pile on.
I don’t think it’s a question of where prices bottom in a building like this, but when it turns rental altogether.
I don’t understand why anyone wants to live in Margate Park. Nice immediate vicinity, completely surrounded by very marginal areas and basically unwalkable. I looked at a few units in the vicinity and couldn’t stomach the neighborhood.
“Actually there were two reported. . .”
Sorry, there were 3, including the one anon mentioned, and the 2 I mentioned.
So hard to keep track of all the activity in Uptown!
Uptown sucks.
Next.
ok took a quick second to google the shooting there were two
http://www.chicagobreakingnews.com/2010/10/teen-girl-2-others-shot-in-uptown.html
i have always said this since i was a teen, Uptown and Rodgers Park have me on edge more than the west and southside.
and when the CHA disbanded the high rise projects, a said guess where they are going to go? just follow where the trend of sec 8 rentals are.
i am an outsider to the area (purposely) so dont take my word for anything. but Laura a community person over there can actually tell it like it is better.
“i am an outsider to the area (purposely) so dont take my word for anything. but Laura a community person over there can actually tell it like it is better.”
And she finds it to be safer than Bucktown/Wicker Park. But that discussion is done, this time around.
“and when the CHA disbanded the high rise projects, a said guess where they are going to go? just follow where the trend of sec 8 rentals are.”
South Suburbs? What do I win?
uptown update has a number of shootings on their front page. things arent looking good over there.
couldnt find their video page however. last years vid of the teen hooligans stampeding back and forth was good theater.
“South Suburbs? What do I win?”
a chance to try bozo bucket number 2
“And she finds it to be safer than Bucktown/Wicker Park. But that discussion is done, this time around.”
ahem, umm yeah next
“uptown update has a number of shootings on their front page”
nice that hood even has its own website for crime. another reason i only trek over there for live shows and green mill.
groove fun fact, family friend was a US mailman over buy truman college until it got out of hand and transferd out in 2000something.
WOW, do I ever know THIS little building!
This building’s price appreciation between 1998-2006 is a great index of the Bubble Market insanity. These little hotel-type apartments should never, ever have sold for one dime over the 1998 price.
To anon, I don’t find Uptown safer than ANYPLACE. Edgewater and Rogers Park. I’d rather have Edgewater than Rogers Park, Rogers Park than Bucktown/Wicker Park, and I’d rather have Wicker Park, Bucktown, Humbolt, or West Town, than Uptown, in the shape it’s in- though it has considerable potential.
Anyway. SOMEBODY who owned his own and another “investment” (read speculation) unit in this building tried to sell me the studio apt he was speculating on, for $100K or thereabouts, in 2005 or 2006. Now, he had run off the entire litany of building problems before, and I asked him, didn’t you tell me this place has a lot of problems and some special assessment coming up? Oh,NOOOOO, he replied, we have no problems. He then suggested I get a no-down IO loan, which he said I could easily refi when the balloon hit, because “you KNOW the place will appreciate 20% this year”.
The place is an absolute mess, and full of renters, not all of them good tenants. And, yeah, the neighborhood needs some serious help, even though this is the “better” part of uptown. North of Lawrence to Foster is in much better condition than south of Lawrence. The worst Lawrence to Montrose, IMO.
Groove, three people were shot at the 1200 block west on Montrose, at Magnolia, and the other two at Sheridan & Sunnyside.
I compare this area with the northmost end of Rogers Park, only it’s worse.
Rogers Park is a mixed bag, like Uptown. From Devon to Farwell, pretty good, and east of the el, pretty good. From Morse to Howard, it varies. North of Howard, it is terrible. That is the part of the nabe that gives it its reputation.
Edgewater is by and large very good, though there are intermittent problems that get handled right away. There is an attitude of zip tolerance for crime there. Mary Ann Smith, the alderman (who is now stepping down) did a good job cleaning up crime and blight there. She keeps a list of bad buildings there, that have generated problems, and pressures the ownership into cleaning them up. Phone calls to the ward office about problem buildings (crime, drugs, gangbangers milling around) get results.
Humboldt Park has some really nasty areas not sure if I’d take that over Uptown.
“To anon, I don’t find Uptown safer than ANYPLACE.”
Exaggerating for effect. Also: this place is 1/2 block from Edgewater, so definitely Uptown, but if this is too scary, then so is part of Edgewater, too, b/c Foster isn’t enough barrier.
Note: Could be a good lovenest for the Cycle & Saddle set.
Humbolt Park over Uptown? That’s crazy. The shooting at Magnolia and Montrose was a SHOCKER to me. I lived on the 4400 block of Magnolia for five years and never had any issues. I live on the 4600 block now, I liked it so much I bought a place. I’ve never had a problem there either. East of Broadway basically sucks however.
The biggest problem Uptown has had for the past 20 years has finally been solved. Alderman Shiller is gone.
As far as this place is concerned, you could not pay me to take an apartment there. It should be rental.
*Off TOPIC*
do you think there is any chance Daley will pull Michelle Rhee from D.C. to replace “ol’ two year” leaving on the 29th?
Uptown and Humboldt Park both suck.
“do you think there is any chance Daley will pull Michelle Rhee from D.C. to replace “ol’ two year” leaving on the 29th?”
Don’t you mean “Rahm”?
Dude gave someone *cancer*; it’s all about what the Rahmfather wants.
“Dude gave someone *cancer*; it’s all about what the Rahmfather wants”
i shall steal “Rahmfather” a new classic. seriously still haven heard a good reason why dart took a pass besides “rahmfather”, same goes for my fave Luis G. he has been gunning for the spot for as long as i can rememeber so another “Rahmfather” hand of magic.
*is anyone else waitng to here what will happen to the guy renting “rahmfathers” house. i am actually concerned for the guys future
—Daley is still not phoning it in yet he is still trying to leave a good taste in the our mouths, but a bad one for the next guy to fill his shoes. so i think he might at least try for a Rhee to shake shyte up
“i shall steal “Rahmfather” a new classic.”
Kass uses it, so I dunno if you still want to. At least out loud.
“same goes for my fave Luis G. he has been gunning for the spot for as long as i can rememeber so another “Rahmfather” hand of magic.”
Not to get too into the politics, but I bet Luis was scared off by someone implying he’d seen transcripts of PatFitz’s phone taps. Most likely that was Rahm, but it could have been anybody.
“so i think he might at least try for a Rhee to shake shyte up”
True, but if Rahm wins, he’d fire anyone he didn’t like w/o a second thought. And she’d be a fool to take the job w/o know ing that Rahm would keep her. Some of the others might have more trouble just canning her, b/c who would they get with a better rep?
“Kass uses it, so I dunno if you still want to. At least out loud.”
i refuse to even touch the trib
“Luis was scared off by someone implying he’d seen transcripts of PatFitz’s phone taps”
one of the top skeletons in his closet, i think all the other easy skeletons might have been the more influential to the decision
“And she’d be a fool to take the job w/o know ing that Rahm would keep her”
great point, never even thought about that. i just want her to employee the double pay or tenure thing in CPS i really want to see that 🙂 think they would pull out the inflatable red eye rat for that?
“think they would pull out the inflatable red eye rat for that?”
Anyone that causes the Rat to be deployed gets my support. I *love* the rat.
Anyone know where I could buy one? I’d like one in my office, if it’s not too expensive.
dude we can go halfsies on the rat and go grill some dogs outside of HD’s office. no better way to spend a friday
I looked at a unit in this building back in August 2009. It was a 1 BR on the ground floor for 59K, I think? I thought it was terrible. The building is pretty enough on the outside, but I was hit by a terrible stench of cigar smoke and stale cooking smells as I entered. The hallways were shabby and badly in need of painting and new carpets. The apartment itself was terrible. It looked out on garbage dumpsters and a parking lot. Anyone walking by could have peered right into the unit. The apartment needed a TON of work to make it habitable. It looked like a renavation had gone awry and then been abandoned.
As far as Uptown goes, I’m taking a bet on it. I’ve had a short sale in contract there for a couple of months now and I’m hoping to hear something about closing very soon. Uptown has the benefit of being between Lakeview and Edgewater, it has convenient public transportation with the red line as well as having plenty of shopping and ammenities. It’s on the lake. Plus there’s a Target now. When Target opened in downtown Brooklyn, property values rose. That area was previously skid-rowish too. I know I can’t compare markets – Brooklyn to Chicago, however hopefully with the Alderwoman retiring things will improve? Anyone know anything about her replacement yet?
Maybe I’m still dwelling too much on the two young women who were so brutally assaulted close to the Black Beetle just last year. That was one of the most vicious assaults I’ve ever heard of, and much worse than anything that ever happened to me (mugging at knife-point, armed robbery with firearm, and too many purse-snatchings to count, in another city). Has anyone heard how things are going for that young Irish woman, or her companion?
And Uptown has had a number of daytime shootings in the past year and half, with an innocent bystander catching the bullet in her leg, at Wilson and Broadway. Thank God she caught it in the leg, and not in the chest, and thank God she got it and not her small child.
Helen Shiller’s departure is way overdue, and I’m only surprised she was allowed by the voters to hold her seat for so long. Maybe too many apathetic voters who won’t even turn out to vote in the cold in February, or God Forbid, sign a petition to get other people on the ballot? It is a matter of amazement to me that the voters of Ward 46, which includes Buena Park and the north end of Lakeview clear down to the 3500 block north, haven’t long since turned out in force to turn this woman out of office. She and Joe Moore of the 49th are shameless “poverty pimps” and slummifiers, and they even hang out with each other. Were seen eating lunch together at the Heartland on Lunt a few years back.
“dude we can go halfsies on the rat and go grill some dogs outside of HD’s office. no better way to spend a friday”
Best idea of the week! I’m in.
I could swear we had this same discussion less than a week ago. I walk and bike all over Rogers Park, including the part north of Howard. I have never been sketched out in Rogers Park, nor have I been approached by drug dealers or hookers. The apartment buildings and condos in much of Rogers Park are actually quite nice, even the ones in the “ghetto”. There are a number of single family homes (on large lots) on Juneway Terrace (the northernmost street in the city).
I do know that there are a lot of problems with recent condo conversions, but that is another issue. If Rogers Park were really going into the toilet, I would definitely know (I live in E-town).
“Maybe I’m still dwelling too much on the two young women who were so brutally assaulted close to the Black Beetle just last year.”
It was at Bloomingdale and Damen. Heart of yuppie B’town. Could have just as easily been Lincoln Park, given the perps and the method.
Black Beetle is ~2 miles away.
“Has anyone heard how things are going for that young Irish woman, or her companion? ”
Latest on the Irish woman: http://www.myfoxchicago.com/dpp/news/metro/natasha-mcshane-bucktown-beating-condition-improving-walking-ireland-20100927
Looks like the local kid is back at work, but that’s not confirmed.
“She and Joe Moore of the 49th are shameless “poverty pimps” and slummifiers”
Add Daley to that. Daley is the one who “cleaned up” the South Loop only in the sense that he was shuffling the homeless people to places like Uptown.
Yeah, skeptic, I heard many years ago from a friend of mine that Rogers Park was one of the designated “dumping grounds” for people displaced from the housing projects close to downtown (Cabrini and others along State) slated to be demolished. The good tenants of the projects found other housing, but the incorrigible leftovers- ex-offenders, people with way too many kids, or other undesirables- were sent to RP and Uptown and anyplace else that didn’t have a vigilant alderman.
Helen Schiller was alderman because all the other candidates were only about Uptown and she made sure that the Lakeview portions of her ward got good service. In fact, Crappelman was stumped last round when he was asked, in a debate, about the Lakeview portions of the ward and came up….blank.
Speaking of, when is the election for Schiller’s replacement? I have no idea who any of the candidates are. Which means my vote might be for sale. WINK WINK
The municipal elections will be on Feb 22, 2011.
There are 8 candidates that I know of running in the 46th. 7 are named on the Uptown Update blog, and I met someone on the street who is the 8th.
“I met someone on the street who is the 8th”
Homeless?
No, just a nice, young guy, very attractive, who I had a casual conversation with. Tall, attractive, well-dressed white guy, whose name escapes me now because I saw it nowhere on Uptown Update’s list of candidates. Wonder if he is still trying.
Had to ask, as it was at least plausible, esp. in the 46th. Probably would have been Helen’s preferred successor.
Laura I wonder if you are talking about me!