Here’s Blago’s Competition: 4443 N. Mozart in Ravenswood Manor
If you haven’t already heard, former Governor Blagojevich’s 5-bedroom vintage bungalow at 2934 W. Sunnyside in the Ravenswood Manor neighborhood of Albany Park just “officially” came on the market.
It is listed at $1.07 million. He and his wife bought it in 1999 for $505,000.
You can read more on the house from the Tribune here.
There are no interior pictures up yet with the property- so, to me, it’s actually a pretty boring story.
But what is the competition in the neighborhood at this price point?
Just 2 blocks away is this 4-bedroom recently renovated home at 4443 N. Mozart.
It has been on the market since May 2011.
Built in 1914, it is on an extra wide 45×125 lot and has a rare side drive that leads to a 3-car garage.
It last sold in 2007 after having been in the same family for 42 years.
The original May listing said it was a “total renovation.”
The house now has a custom kitchen with Viking and Subzero appliances.
It also has a fully finished basement with an exercise room and one of the four bedrooms.
The other three bedrooms are on the second floor.
This house is about the same square footage at the former Governor’s house.
It has been reduced $60,000 since May to $1.235 million.
Which will sell first?
Elizabeth Bleeker at Prudential Rubloff has the listing. See the pictures here.
4443 N. Mozart: 4 bedrooms, 3.5 baths, 3800 square feet, 3 car garage
- Sold in 1965
- Sold in November 2007 for $780,500
- Originally listed in May 2011 for $1.295 million
- Reduced
- Currently listed for $1.235 million
- Taxes of $10,506
- Central Air
- 2 fireplaces
- Bedroom #1: 16×14 (second floor)
- Bedroom #2: 14×14 (second floor)
- Bedroom #3: 16×12 (second floor)
- Bedroom #4: 14×10 (lower level)
- Exercise room: 20×11 (lower level)
Wow, I really like this house! Maybe I am off on pricing in Ravenswood though because 1.07 and 1.235M seem way too high to me. I’d say maybe just under a million for this one.
sabrina and HD – would people be smarter investing in this house or investing in the stock market? Sabrina, how are your stocks doing? I bet they have lost more value than my house over the past 3 years (even if you are well diversified). Please tell me why you are so bullish on stocks/bonds and so bearish on the housing market when the stock market has done worst than the housing market AND doesn’t serve a triple function (ie a house is not only an investment but you also live there and you are allowed to customize it to your personality/desires, etc.).
I too am eager to see interior photos of Blago’s house. I think that it is likely not that nice and kind of dated, given how busy they have been over the last five years or so.
I think that this property will get the sellers at least $1.18 million, and maybe over $1.2 million.
The stock market was very good for those shorting REITs and small caps…
Also, it’s a lot easier to own a diversified equities and bond portfolio than a diversified real estate portfolio
“this property will get the sellers at least $1.18 million, and maybe over $1.2 million.”
When? It’s approaching a stale listing, at the end of the summer, and no one has yet bitten at less than 10% of original list. It’s certainly nicer inside than a lot of other stuff that *has* sold in that range, but why would there suddenly be interest?
Unless you have non public info.
Love this house.
This kind of money buys a nice parcel in Wilmette with better schools, better lake access, comparable walkability and not too much longer commute into the city. But this lot size and three car garage is real nice.
Nice house. I just don’t think they can get this kind of money to be a couple of houses north of Montrose. Montrose is pretty ugly and barren there.
One block away, south of Montrose, is foreclosure alley with super cheap SFHs (some SFHs were offered in the $150k-350k this past winter) and LOTs of distressed condos south of Montrose too. These are not comps, surely. But they would be your neighbors. I would not want to own the most expensive home there.
This house would be nicer looking if it got rid of the white trim around the top window, added a little more stone, and used shingles on the top half more common on arts and crafts homes and nantucket style homes. The blue is a bit bright and its really overwhelming…needs more texture than just siding.
I agree with Aman. This neighborhood is much like living in the suburbs only the schools are not as good. I’d move to Wilmette first the train is 30 minutes same as the CTA ride (possibly shorter) than here.
Very nice house. Love Ravenswood Manor.
Sweet pad, but shoulda done fully integrated fridge instead of build in (or just leave it ss). It’s refreshing to see such spacious rooms.
Absolutely Gorgeous house! Love everything about it! Seen it and it is even better in person. Especially the Blue Hardy Board and the river rock stone. Seems like a great deal for a wide lot and to be so close to the City. Just wish we could afford it.
Albany park, for the most part, is a dump, but there are little pockets of nice areas like ravenswood manor and mayfair. But for the most part it is the blade runner type soup that dan used to talk about: congestion, gangs, urban problems, poverty, no good schools, lack of amenities, crime. Nice home though, the area is still pretty hot bc the gz is such a small little sliver of land on the northside.
Is this part of the GZ HD? What are the boundaries of the GZ?
“I agree with Aman. This neighborhood is much like living in the suburbs only the schools are not as good.”
I second that. To me living in the city means, highrises and tons of people walking around on the streets.
3-car garages, SFH and lawn = suburbs.
Its not the gz but buyers still consider the area bc its nice, close to the gz, and cheaper than the gz. But its no gz albeit an acceptable substutite for those who can tolerate the soup and the gangs to the south and west.
I love soup!
So what are the boundaries of the GZ?
The 16th and 17th precinct share a police dispatcher. You can find a link to a streaming scanner online. I’d say 50pc of the crime in both precincts eminates from the blocks surrounding ravenswood manor but not within the manor itself. Montrose is bad bad bad.
Western ave for the most part vjos, I don’t have time for this debate again.
There’s no debate, I just don’t know what the GZ boundaries are.
“There’s no debate, I just don’t know what the GZ boundaries are.”
There’s *always* a debate when HD is involved; he can’t help himslef.
“There’s *always* a debate when HD is involved; he can’t help himslef.”
No, it’s not ‘himslef’, its ‘himserf’.
So, HD will talk about GZ boundaries but only gives Western Avenue as a border. That doesn’t really define anything.
“Western ave for the most part vjos”
Wow…now only places on Western are in the GZ? The definition sure has changed!
🙂
“I just don’t know what the GZ boundaries are”
You’ve been around here enough to know what people mean by GZ and you seem to know Chicago neighborhoods and real estate well enough. Can’t you define your own GZ? It’s not like anyone disagrees *that* much. The uncertainty is generally wrt a few areas, which would be where the debates (and boundaries) start.
“Vlajos on October 4th, 2011 at 10:22 am
So, HD will talk about GZ boundaries but only gives Western Avenue as a border. That doesn’t really define anything.”
This topic has been discussed ad nauseam and it’s not like *I* have the be the person called out for using it. I didn’t even coin the term.
I know real estate and I know Chicago. I never heard of the GZ until I came to this site. I still don’t understand what parts of the City are included. I would have thought Ravenswood Manor to be part of the GZ.
bisque > soup
Greenzone:
Lincoln Park
Bucktown
Andersonville
South Loop
West Loop
Lakeview
Southport
Roscoe Village
Streeterville
Gold Coast
Ravenswood
River North
Millennium Park/Loop
You can debate the specific neighborhood borders till the cows come home, but those are the GZone hoods imho. The Greenzone comes from a comparison to Iraq where the Greenzone part of Baghdad is fortified.
http://en.wikipedia.org/wiki/Green_Zone
When buying in the city, move outside of the GZone at your own risk…
clio: “sabrina and HD – would people be smarter investing in this house or investing in the stock market? Sabrina, how are your stocks doing? I bet they have lost more value than my house over the past 3 years (even if you are well diversified). Please tell me why you are so bullish on stocks/bonds and so bearish on the housing market when the stock market has done worst than the housing market AND doesn’t serve a triple function (ie a house is not only an investment but you also live there and you are allowed to customize it to your personality/desires, etc.).”
Quit spamming. You and Heitman should start your own blog. Maybe call it: “You’re All Idiots (Why you should never not invest in Real Estate.)”
I’ll be your first idiot poster. Promise.
“I still don’t understand what parts of the City are included. I would have thought Ravenswood Manor to be part of the GZ.”
HD is a little unclear (as is his wont) but I take him to be including the manor as part of the GZ in his comment. Also, it’s not like anyone has an official definition of the GZ (besides Russ apparently). And the manor may well be one of the debatable areas (not in Russ’s list, but then again nor is parts of nortcenterish, much to anon’s horror).
“the Greenzone part of Baghdad is fortified”
So is Blago’s house, allegedly.
“When buying in the city, move outside of the GZone at your own risk…”
Why, Edison Park and Forest Glen aren’t good?
“then again nor is parts of nortcenterish, much to anon’s horror”
Just depends what one means by “Ravenswood”:
“Chicagoans older than 17 think of Ravenswood as taking in the entire area served by the Ravenswood El. (Well, not the entire area. For some reason I always conceived of Ravenswood’s western boundary as Kedzie, which separated it from Albany Park.)”
http://chicago.straightdope.com/sdc20100225.php
Who really cares about the GZ anyway. Now that Ravenswood Manor is getting so much BUZZ the prices will go up just like North Center and Lincoln Square. Shhhhhh!!!!!! It’s a secret for those people who want to buy in a great neighborhood, great Waters School district (better than Bell School) and just a walk from the Brown Line. Oh and they have a great new Pie Shop across from the Dry Cleaners at the Francisco Brown Line EL Stop. It’s unfortunate that Blago is bringing this kind of attention to RM. THe Manor reminds me of Winnetka. Sad that Blago is tarnishing its reputation.
The House on Manor is Gorgeous! I would love to live there!
Drove by the Blago house, it doesn’t have any outside space and only a one car garage! Inside looks somewhat dated. The blue house looks awesome. Great yard, garage roof deck and a three car garage all in Chicago! The Manor is such a great neighborhood, its like living in the suburbs without the suburbanites! We are renting now but if I won the lottery this one would be mine!
“Why, Edison Park and Forest Glen aren’t good?”
Just because they have a Chicago address, doesn’t make them count as “living” in the city. Those areas are more horribly suburban than the suburbs.
“Just because they have a Chicago address, doesn’t make them count as “living” in the city. Those areas are more horribly suburban than the suburbs.”
They are Chicago and they are rather nice.
I guess NYC has never been to Schaumburg or Hoffman Estates or Plainfield or Oswego or Aurora or….
“They are Chicago and they are rather nice.”
O’Hare airport is Chicago, too. It has a really nice food options. Probably more than Forest Glen, too.
Other than a squatter or homeless person, I didn’t know you could live in O’Hare.
RE: :” O’Hare airport is Chicago, too. It has a really nice food options. Probably more than Forest Glen, too.”
I totally agree. Having lived in that area I can vouch for the total lack of urban conveniences. I was recently bashed on this site for calling that area a total snore-fest.
“Other than a squatter or homeless person, I didn’t know you could live in O’Hare.”
Right. You can’t. Way to go. Forest Glen is great. As good as any other suburb on the Metra.
“Right. You can’t. Way to go. Forest Glen is great. As good as any other suburb on the Metra.”
Not sure what your point is. I prefer Forest Glen to most suburbs. You don’t.
Vlajos on October 4th, 2011 at 10:57 am
“When buying in the city, move outside of the GZone at your own risk…”
Why, Edison Park and Forest Glen aren’t good?
——————–
LOL
homedelete on October 4th, 2011 at 9:50 am
The 16th and 17th precinct share a police dispatcher. You can find a link to a streaming scanner online. I’d say 50pc of the crime in both precincts eminates from the blocks surrounding ravenswood manor but not within the manor itself. Montrose is bad bad bad.
———————
Whats the problem with Montrose? There is no issue with Montrose and Western. I don’t consider crime that high at all.
“Whats the problem with Montrose? There is no issue with Montrose and Western. I don’t consider crime that high at all.”
Good point.
I am with Lunker — what’s wrong with Montrose?
I live just south of here in what is apparently “foreclosure alley” according to a previous poster — I have seen plenty of regular sales lately.
In Aug:
http://www.redfin.com/IL/Chicago/4212-N-Francisco-Ave-60618/home/13487472
http://www.redfin.com/IL/Chicago/4141-N-Sacramento-Ave-60618/home/13488298
I would say that maybe 1/3 are foreclosures, 1/3 short sales and 1/3 regular sales. That is just my perception and nothing something I would define as foreclosure alley.
*not something
Ks-
You are willfully blind.
By your calculations 66% of sales in the area are DISTRESSED!!!
If that isn’t forclosure alley, what is????
A friend just had 2 short sales in his 6 unit building in the last year. No worries, just 33% of the units in distress so far. And, his unit, that sold for $350k in ’06 recently short saled for $199k. From what he said, others are just bunkering in becasue they can’t afford to see.
I’m not bashing the area. Just stating what I see.
typo:
others are just bunkering in becasue they ‘can’t afford to sell’
“I would say that maybe 1/3 are foreclosures, 1/3 short sales and 1/3 regular sales. That is just my perception and nothing something I would define as foreclosure alley.”
LOL!
“Not sure what your point is. I prefer Forest Glen to most suburbs. You don’t.”
My point is that most who are looking to buy in the city, don’t consider these neighborhoods part of the equation; due to the fact that it isn’t “city living.” But we sure do appreciate your tax revenue. THX for spreading the wealth.
“My point is that most who are looking to buy in the city, don’t consider these neighborhoods part of the equation; due to the fact that it isn’t “city living.” But we sure do appreciate your tax revenue. THX for spreading the wealth.”
Maybe, but I know a lot of people who moved from the alleged GZ into these areas.
Given the fact the market has dropped significantly, I would view something defined as “foreclosure alley” as a 90% or higher.
First, we have to define “foreclosure alley”…
What is your take on what makes a neighborhood foreclosure alley?
I would not define my neighborhood as one. Still plenty of sales. Very few vacant homes.
That is why Ravenswood Manor is such a great neighborhood. It’s located in the city but has the “feel” of the suburbs. The best of both worlds. In addition you get the feel of a house in Lincoln Park/Lincoln Square without having to pay top dollar.
It’s been a secret for a long time. People in the Manor dont move that often. There is not much on the market in the MANOR. Lincoln Square is getting close to Lincoln Park prices and so RM is a nice alternative.
You can not compare south of Montrose or east of the Manor to Ravenswood Manor, its like apples and oranges.
“First, we have to define “foreclosure alley”…”
Kind of like defining the “Green Zone”
Taxes of $10,506
Pretty low for a million dollar house, no?
Since we have no definitions, I suppose it’s all highly subjective.
My observation RE: Horner Park/Irving Park area (South of Montrose, west of Horner Park) was based on what I saw when in market to buy last winter. It was really gloomy there – many distressed properties.
I think recently ‘gentrified’ areas like Horner Park/Irving Park are very vulnerable to distressed sales now because many well intentioned newcomers bought into the neighborhood during the later stages of the bubble.
They are relatively young, had little money down, were highly levered, and paid peak bubble pricing.
This seems to be a recipe for lots of short sales, foreclosures, and jingle mail.
The fact that there are “very few vacant homes” means absolutely nothing because it’s taking 2 years from default to eviction. Why would anyone vacate a home they knew they could live in free for 2 years??
“The fact that there are “very few vacant homes” means absolutely nothing because it’s taking 2 years from default to eviction. Why would anyone vacate a home they knew they could live in free for 2 years??”
Sounds like people are buying the short sales and foreclosures.
Montrose and kedzie, montrose and kimball, lawrence, lots of gangbangers. Listen to the scanner on a friday night. Its pretty wild out there, moreso than traditional greenzone areas. I’m not making this shit up. Albany Park is no cakewalk.
60646: amenities in forest glen blow. This is not even debatable. However the homes are quaint, the neighborhood is leafy and green, safe, close to metra, highway, and satisfies the residency requirement, and has a concentration of money. Drive around the area, its gorgeous and quaint. But there aint nothing to do and you’re driving to niles to go to target.
So are their pictures of the Rodsters house up? The Blowdryavitch’s place can’t be very tasteful (I’m picturing 80’s beige formica coffee tables with “Warhol” paintings of Rod).
“So are their pictures of the Rodsters house up?”
Nope.
Owe $694k (ignoring the USA forfeiture lien) and had a $610k mortgage at the time fo purchase (supposedly for $505k).
Yes, Albany Park has its share of gang problems, but the problem is that we are talking about the neighborhood east of Kedzie — and it is quiet over here.
The neighborhood south of Ravenswood Manor is defined as Horner Park West (Kedzie, Montrose, California, and Irving Park) and it has a bunch of good things going for it.
Decent neighborhood school, Bateman, involved parents/community in the school, ward is responsive -things get taken care of promptly i.e. street repairs, etc., new restaurants on Irving Park, easy access to public transit or Kennedy.
but I don’t have to worry – it is west of Western so most of you won’t look here.
“but I don’t have to worry – it is west of Western so most of you won’t look here.”
Lol
I like Forest Glen. I considered buying there.
If it weren’t for the wife’s commute, we would probably be living in Sauganash. FULL DISCLOSURE, NEITHER OF US WORK FOR THE CITY
Vlajos: if it weren’t for unrealistic sellers asking $300 psf for their small outdated tudor, I’d be living in Edgebrook. Its amazing how much is for sale, and how few homes in the area sell. It’s by far one of the most out of whack neighborhoods in the city. And the bloodbath is going to only get worse as budget cuts are the wave of the future.
ok HD, we know you think the world is imploding already.
Oh, they are up!
http://tours.vht.com/Viewer/PhotoGallery.aspx?ListingID=50615202&Style=IDX
Much more tasteful than I’d imagined (are the books real or picture books of Rods Hair?) – or heavily staged.
Must say that I really dig’s Blago’s crib!
“Must say that I really dig’s Blago’s crib!”
Duh! You helped pay for it!
Wow, Blagojevich’s basically gets paid $500,000 is cold hard tax free CASH just for house sitting for a decade. This is one hell of a country! I feel so sad for renters who rent their entire lives, and pay someone else’s fortune. No wonder there are so many poor people in this country. Upper class owns, like Blagojevich. Lower class rents while the rich get all the breaks. ITS GOOD TO BE RICH! It’s too bad renters are too lazy or undisciplined to learn about owning. Where else can you get paid ONE MILLION DOLLARS just for house sitting (while paying less than the cost of rent!) WIN/WIN. I love life!
” ok HD, we know you think the world is imploding already”
That’s not entirely accurate. The world is still spinning, but, real estate values will continue to fall to levels that buyers can afford. Especially that nw little corner of the city.
Something odd about this house; its floor plan and exterior elevations look like new construction. Perhaps original house was encapsulated by a gut-rehab plus addition because it reminds me of a subdivision prairie – like Prairie Crossing’s last phase.
I second Homedelete’s concern re: Albany Park just west of insular Ravenswood Manor. Bad news until Mayfair. Even “westerly RW” gets patchy
Nice. Very well done.
The mozart house is absolutely gorgeous both inside and out. I love the deck on the garage too. I’ve lived in the neighborhood for many years and this is definitely a beautiful renovation. Blago’s house is so so – needs some curb appeal – that doesn’t mean more camera crews.
I still say the Gov’s family should regard the Governors’ Mansion in Springfield as their primary residence and if they MUST retain some connection to Chitown it should be no more than a nice “in-town” apartment or condo. Gov. Thompson set a very bad precedent with his mansion in one of the “nice” parts of Uptown, but then again he had to have a place to put his and Jayne’s antiques collection.
I’d walk through Albany any day of the week at any time with no concern
It’s not Roseland or Englewood folks
From what I recall 17 is mostly domestics and probably battery of respective gang members
Walking through albany park and living there are two different things.
Amy there is no such thing as club fed & if you had one iota of sense you’d see Blago is pretty fvcking far from lucky. And you can’t possibly spend a half mill at the canteen unless you’re serving 30+.
“Wow, Blagojevich’s basically gets paid $500,000 is cold hard tax free CASH just for house sitting for a decade.”
The list price is not the sales price. We’ll see what it sells for. But considering the Mozart house has been on the market for quite some time- it could take awhile.
“I’d move to Wilmette first the train is 30 minutes same as the CTA ride (possibly shorter) than here.”
Is the Purple Line any good??? What’s the time from Linden?
“THe Manor reminds me of Winnetka.”
If you want to be, or want your kids to be bigwigs in Chicago (i.e. the clout game, connections, etc.) you really can’t be from Winnetka or the North Shore. Rahm went to New Trier, but he’s not a good example because he’s only where he is because of Bill Clinton, period. That’s a very unusual path to clout in Chicago. Very unusual.
“Must say that I really dig’s Blago’s crib!”
Me too. The buyer should offer to buy all the furnishings too, they’re well above average. It’s awesome, assuming the layout isn’t weird, etc. The pics could be hiding something.
“Wow, Blagojevich’s basically gets paid $500,000 is cold hard tax free CASH just for house sitting for a decade.”
What about cap gains tax? What’s the exempt limit again?
I’d take Blago’s place over the subject house.
“Is the Purple Line any good??? What’s the time from Linden?”
20 minutes to get downtown…
OOPS…120 minutes.
Looking at Blagovich house interiors, I suspect this house had a expensive rehab/upgrade during Blagovich’s tenure. Windows look new, two sunrooms look new, woodwork/cabinetry in livingroom looks new, kitchem is new, etc. I doubt that there’ll be any capital gains tax liability upon sale of this house. But I wonder whether there are bills of sale for the remodeling work, and whether there were significant donations and/or discounts given their penchant for leaning on contributors. That practice is common among real estate developers too.
I’ve never taken the Purple line. It’s probably about 30 minutes to downtowon from the Linden.
Purple line is more like 30+ minutes from Howard to downtown.
Probably another 20-30 from Linden. 50-60 minutes total maybe?
It is an all stop train except for the express from Howard to Belmont.
Also, a few years there was some fear that it might be eliminated due to budget cuts. That would be really unpleasant for Evanston/Wilmette riders.
“If you want to be, or want your kids to be bigwigs in Chicago (i.e. the clout game, connections, etc.) you really can’t be from Winnetka or the North Shore. Rahm went to New Trier, but he’s not a good example because he’s only where he is because of Bill Clinton, period. That’s a very unusual path to clout in Chicago. Very unusual.”
Maybe if you want to be a hack precinct captain, but otherwise that comment is wrong and ill-informed.
Tell that to Pat Ryan. Or Jack for that matter (had he not frequented sex clubs with his wife).
Or Chris Kennedy.
Or Mark Kirk.
Statewide = Chicago.