Historic West Ridge Mansion Reduced to $1.29 Million from $2.45 Million in the Last Year: 2100 W. Pratt Blvd.
We’ve chattered about this 12,000 square foot historic mansion at 2100 W. Pratt Boulevard in West Ridge several times in the last year.
See our June 2011 chatter here.
Back in June, it had been reduced to $1.89 million from $2.45 million.
Many of you thought that was getting more reasonable and that it might sell for $1.7 million.
Groove declared it his dream house and was ready to move in (with help from Sonies and the filming of a Reality TV show about the two of them living in the house being wacky d-bags. No- I’m not kidding.)
There were also the usual comments about how much more you get in “Oak Brook” (no surprise) and also whether or not the neighborhood could sustain this price.
One person guessed it would ultimately sell for under a million.
It’s 7 months later, and one year after it first came on the market, and it has been reduced further to $1.29 million.
If you recall, the listing (yes- it’s the same listing with typos) says it is the first time the home has been listed in 111 years.
Built in 1900, the listing says it was a summer home and took 4 years to complete.
The 5-bedroom home has hardwood floors throughout and 5 fireplaces.
Built on an oversize 187×150 lot, there is a 3-car garage which the listing says was also the original chauffeur’s quarters.
20 years ago an indoor pool was also added to the house (you can check it out in the pictures.)
The kitchen has white cabinets and some white appliances with black counter tops.
There is central air.
The house sits across from Warren Park’s golf course (you can also see the view in the pictures.)
It’s also apparently a “home with a lot of history.”
The lis pendens foreclosure on this property was filed over a year ago.
Will this house sell before going back to the bank?
And will the Groove (and possibly Sonies) end up living there?
Lydia Memeti at Re/Max City still has the listing. See the pictures here.
2100 W. Pratt Boulevard: 5 bedrooms, 4 baths, 3 half baths, 12,000 square feet, 3 car garage
- Last sold in 1900
- Lis pendens foreclosure filed in October 2010
- Originally listed in January 2011 for $2.45 million
- Was still listed in March 2011 for $2.45 million
- Reduced
- Was listed in June 2011 at $1.89 million
- Reduced several times
- Currently listed at $1.29 million
- Taxes of $14,225
- Central Air
- Indoor Pool
- 5 fireplaces
- Bedroom #1: 20×26 (second floor)
- Bedroom #2: 15×15 (main floor)
- Bedroom #3: 14×12 (main floor)
- Bedroom #4: 20×19 (second floor)
- Bedroom #5: 17×10 (second floor)
Looks like total capitulation. Seller will probably take the first offer that come near this new price.
It really is a beautiful house, but this is no longer anywhere near being a “prime” neighborhood. I believe this area will renew over the next 20 years, but in the meantime you have a house that is a maintenance nightmare that takes a long time to unload as we can see.
I wonder if that pool is causing mold problems. In any case, this is a very costly house to own and heat. But it really is very beautiful and intact, hasn’t been compromised with bad renovations.
I’m waiting for prices to get back to 1900 levels.
some charter school should buy it for 600k and gut renovate it or something, what a disaster, the soffit is falling off the house in sabrina’s picture so who knows what kind of ridiculous problems lie inside the plaster/drywall in this joint
My $900k prediction from the last thread is looking too bullish now.
Ok so I see one buyer. It is an Indian physician, with a large extended family, a ton of disposable income to renovate the place, who just happens to want to live across from a golf course and close to his favorite Devon ave. restaurants.
So far that individual has not presented themselves. I guess that the backup plan is to find a potential Evanston SFH buyer that prefers a really big house, wants to live big, and loves that “intoxicating feeling” of having a Chicago city sticker.
Those are imaginary buyers! In the end I see a developer that can talk with the alderman and get him to agree to correct zoning and permits to cut this place into four apartments and a coach house. They will be premium sized units with great features and will likely command the highest rents in the hood. The pool will come out but the backyard is awesome can be turned into something really special for the renters. This leads me to believe that purchase and reno costs together will need to be under 1.2 million. Five above market (for the area) rents should cover that, taxes, and expenses with a nominal 3 to 4% left over for annual return.
I might give up my need for a short commute for a house like this if I was wealthy.
BTW I think that the listing agent and his/her broker should really take an English class. That description is just plain awful.
“How bad could the inspection be?” is the question that a prospective buyer should be asking oneself.
Ok reality show possibilities…
1. Kendra and Hank rent it out while he try’s to make the Bears. In episode three she is shocked to find out that it is not the Playboy mansion in Chicago.
2. The Kardashian’s take “everything else” so why not this place. Episode five has the girls trying to figure out why their really expensive dresses at the new DASH Chicago located a few blocks away at Touhy and Western Ave. just won’t sell at full retail.
3. Real Housewives of Rogers Park. Gonna be some fun times in that pool. Big drama when this years villan actually gets mugged in the alley.
4. Edgewater Shore – Watch Snooki and friends hanging out on Pratt Ave beach. DJ Pauli D mixes it up on the dance floors of Rogers Park while Ronnie and the Sitch finally gets thier ass beat by the local neighborhood gangs. Can you say Gym Tan, Pizza?
Yeah I know that I’ve been watching too much TV this winter.
Chuk, Easily the best comment ever.
Quote:
I’m waiting for prices to get back to 1900 levels.
Still think seller would be lucky to get $900,000.
For this sort of place at that sort of price, those pictures were, without any doubt, absolute sh*t.
jp3,
that is probably a hilarious post if i got any of the references. i really need to turn on the TV, i am that far out of touch and its scary i am not that old to be unhip.
i still would love this large lot and this house and its history, i just have no ties or need to live in this area. if i did and had the loot i could through some killer BBQ partay’s here
This house is a white elephant, and an example why older mansions uncompatible to their neighborhood are torn down rather than rehabbed. West Rogers Park/easterly West Ridge is not Winnetka. Buying a disproportionately expensive SF house in this immediate area for home is a poorly-considered purchase. Several years ago an ambitious small developer might have tried to spot-rezone property for a small 15-unit townhouse developmentand try to buy land for $600,000 max. It’s certainly too expensive to spot-rezone and redevelop existing house for a 4-flat condo conversion.
“BTW I think that the listing agent and his/her broker should really take an English class. That description is just plain awful.”
Agreed, wow. Horrible. Odd that someone who barely knows English, or how to speak the language knew about Bishop Fulton Sheen and put a reference in there:
build in 1900 as summer home it took 4 years to build 12.000 SQF ELEGANT COLONIAL ACROSS FROM WARREN PARK S GOLF COURSE (LOT SIZE 187X150) Avai l for FIRST TIME IN( 111) YEARS! THE 3 car garage had the chauffeurs quat with bath. 20 years ago was added the indor pool basement was used mass by bishop shean elct 200 amp. home withalot off history , 5 orig, firplc hardwd floors thru out a?c gas forst air
A lot of you seem to bash the area as dangerous. I’m curious, is this area that bad? Can you walk around here safely at night? Can you walk around here safely during the day? Would you be concerned about getting burglarized?
I am only familiar with the neighborhoods close to the loop (river north, streeterville, lincoln park, lakeview, bucktown, gold coast, etc.) so a comparison to these neighborhoods would help.
No its not dangerous. It’s just largely lower-income residential, with less attractive people than the green zone neighborhoods.
Architect makes a very good point about this mansion being a white elephant. The only scenario I see for preserving a building like this, is to be rezoned for a church / cult / yoga institute.
could be kabbalah or mortuary school too.
” It’s certainly too expensive to spot-rezone and redevelop existing house for a 4-flat condo conversion.”
Why do you say that? At ask price I agree with you but at some price below ask with proper renovation costs added to the budget there is a way to make that happen. Also note that I suggested apartments as rentals and not as condos. As an architect I suspect that you agree how that could make the project more cost effective. The finishes and design can be much more average. It will also allow the developer to work within the existing structure adding simple kitchens and baths where easiest and to do this the changes as inexpensively as possible.
Look at the entry hall photos. It appears quite easy to split the building there and create two large first floor “duplex down” units. I would suspect that they could use that staircase to access the upper floor where there can be two additional smaller single floor units.
The pool structure looks to be a rectangle. Since there is clearly plumbing it might turn into an easy single floor apartment if the pool could be filled and eliminated. That is where your experience would clearly be needed. That might prove to be too expensive.
Finally there was an apartment over the garage. It was once used so getting that rezoned as a small one bedroom should be easy. Final result
2 – 3/4 bedroom units for 1500 each.
2 – 2 bedrooms top floor units at 900 each
1 – 2 bedroom (former pool space) unit 1100
1 small coach house unit. 700
Total rent $6600 per month plus parking laundry etc.
I think that prospective renters that preview a unit here vs. one of the many apartments in the immediate area will pay a premium to be in this structure. Done right it will also likely attract a long term tenant. Let’s face it many cc’ers liked things about this building. If it were in a great area it would be a much easier sell but there are renters that WANT to live in this exact area.
Architect called it…reduced $400k to $889k today. Who wants to buy it now??
“Architect called it…reduced $400k to $889k today. Who wants to buy it now??”
Wow. The bank is probably close to taking it now. So they’re trying a last ditch price to sell it in short sale.
Reduced even more since February…..now down to $848k. What will be the final sale price?
“Wow. The bank is probably close to taking it now. So they’re trying a last ditch price to sell it in short sale.”
Didn’t happen. Now is bank-owned and listed for a mere $750k. Who wants to go in with me?!?