Historical Vintage Beauty in the Oakland District: 3735 S. Lake Park
This 3-bedroom unit at 3735 S. Lake Park in the Oakland District on the South Side is located not far from the new 39th Street beach which opened last summer.
At 2400 square feet, it is nearly as large as many single family homes.
It has hardwood floors throughout and vintage woodwork.
The kitchen has cherry cabinets and stainless steel appliances.
There is central air, a washer/dryer in the unit and one parking space.
The listing also says the building has a historical landmark designation.
Beki Darin at Prudential Rubloff has the listing. See more pictures here.
Unit #1S: 3 bedrooms, 2.5 baths, 1 car garage, 2400 square feet
- Sold in April 2004 for $340,000
- Sold in August 2005 for $400,000
- Originally listed in November 2009
- Listed in March 2010 for $315,000
- Reduced
- Currently listed for $299,000
- Assessments of $229 a month
- Taxes of $1265
- Central Air
- Washer/Dryer in the unit
Love the living room but the dime a dozen $2k SS appliance package and the $1000 home depot Bathroom-in-a-box…….no comment
I love the size and style of the apartment, the low price, the low taxes and the low assessments, but I am assuming this is not a great neighborhood? I don’t know it, but there must be a reason why the price is so low.
I did make the mistake of buying an apartment in Red Hook, Brooklyn in the mid-nineties thinking the sweetness of the apartment would make up for the inconvenience, lack of ammenities and high-crime. But guess what? It didn’t. Because in reality you are not going to live in your apartment 24/7. And it sucks when they set cars on fire on your block, smoke crack on your steps and you can’t get anything delivered because the delivery men get mugged.
Beatiful unit with nice finishes. Too bad it is not located in Bridgeport though.
Pretty quiet in that area. Most of the public housing is gone.
I woudn’t walk the street past 8pm but otherwise it’s fairly safe.
Close to the lake and there are bus routes but having a car makes life much easier since there really are no stores nearby. I used to live a couple blocks from there and you definately get a lot more for the money down here.
There’s a reason this beautiful home is so cheap, its in a really shitty area of town. “Oakland District” = Bronzeville right? No thanks!
“I am assuming this is not a great neighborhood? I don’t know it, but there must be a reason why the price is so low”
Not a great neighborhood. Check out the aerial–it’s isolated and there are a *lot* of vacant lots.
It also backs up on the metra tracks.
Looks good and the price is in line with the appliances/bathroom. Nice to see some solid buildings getting a new life and still maintaining their vintage charm. I hope it sells.
Also, as to the beach proximity, it’s about 3/4 of a mile (walking) to the n. edge of the beach.
Beautiful apartment and beautiful building. You might notice that each neighborhood has a slightly different style of architecture, very subtle differences from one neighborhood to the next in the same type of buildings.
Too bad this isn’t a very safe neighborhood.
I would need a car in this location. It would not be optional to me here. Having the lake so close is nice I guess but I would get more use out of a grocery store.
I love looking at the taxes of different property pricepoints at different locations throughout the city. As this one’s taxes seem quite low it just confirms my suspicions that people on the north side are getting gouged severely on taxes to subsidize the tax bills of those in other areas of the city.
http://www.chicagobreakingbusiness.com/2010/03/home-sales-in-chicago-increase-while-prices-drop.html
By Mary Ellen Podmolik |
Buyers continued to enter the local housing market last month in search of deals. They found them, particularly within the city of Chicago.
Sales of single-family homes and condominiums rose 41.5 percent in Chicago in February. The median price for the month was $176,500, a 19.3 percent drop from February 2009, the Illinois Association of Realtors said Monday.
For the Chicago area as a whole, the year-over-year median price fell 10.3 percent last month to $165,000. During the month, 4,134 homes were sold, a 32 percent gain from February 2009.
It was the eighth consecutive month of improved sales volume for the Chicago area, and the sixth consecutive month of improvement in the city.
Bob, I suspect there is also a bias in favor of those who pay higher taxes with regard to services. Such as more police cars patrolling etc.
Not saying I’m getting my money’s worth. It amazes me what I pay in taxes.
“As this one’s taxes seem quite low it just confirms my suspicions that people on the north side are getting gouged severely on taxes ”
“The listing also says the building has a historical landmark designation.”
You’re not comparing apples on this one, not that it disproves your suspicions, either. They get a tax break for being a landmark property (the “market value” is $106,700).
anon- If this place gets a special tax break for being a landmark property, then why don’t the historic places in Lincoln Park and Gold Coast get them? Why the double standard?
“If this place gets a special tax break for being a landmark property, then why don’t the historic places in Lincoln Park and Gold Coast get them? Why the double standard?”
1) They expire, and
2) “historic” =/= “landmark”.
“anon- If this place gets a special tax break for being a landmark property, then why don’t the historic places in Lincoln Park and Gold Coast get them? Why the double standard?”
I thought its only a 10 year “break” for restoration of historical structure.
Landmark i dont know the tax laws or requirements
I am a tad irked by the bathroom and dont hate nor like the kitchen but i love the rest of the place. the building, the fireplace, the beams.
Its so sad cause this area always has these great vintage and beautiful buildings, stunning greystones, gorgeous old mansions, but the hood is bad and all these wonderful places fall into disrepair get demolished and vacant lots stay vacant for decades.
I really wish this area would have been “urban pioneered” by the lilly white yuppies instead of wicker park, bucktown, logan square, and the latest pilsen.
To Bob, who said that residents of the North Side are getting gouged on property taxes relative to residents of the South Side…. that is simply not true.
Home owners who own shacky little single family homes in Gage Park, Englewood, Garfield Park and other extremely poor neighborhoods are getting tax bills of $3000-$5000 for houses that would be lucky to sell for $40K. Many of these people, who are low-wage workers, will have to sell the little houses they fought like crazy to buy, and they will NOT be consoled by a tiny subsidized “affordable” apartment no matter how nice it is or how much the taxpayers spent to build it.
The taxes on this apartment are an anomaly, and a buyer should expect a steeply higher bill this year. This place was probably formerly occupied by an elder who’d lived there for decades, and that accounts for the low taxes. If the new buyer doesn’t get hit this year, he will next year.
“This place was probably formerly occupied by an elder who’d lived there for decades, and that accounts for the low taxes.”
You don’t even bother to read the posts sometimes, eh? Sold in 04 and again in 05.
“This place was probably formerly occupied by an elder who’d lived there for decades, and that accounts for the low taxes. If the new buyer doesn’t get hit this year, he will next year.”
Wow laura way off on this one, anon pointed out the sales, and for the taxes its low cuz the HOE and its assesed value is strangely low even with the 04 and 05 flip.
maybe someone knows here, Is the historic restoration tax freeze transferable to new owners or the owners who did the restoration?
“Is the historic restoration tax freeze transferable to new owners or the owners who did the restoration?”
Gary, I think, once noted that it’s allowed to transfer once after the original owner. Haven’t double-check, but didn’t think it necessary. Based on that, I would think the next owner is in for a big tax increase–to something like $4000, based on 2008 (pay 09) rates.
“Gary, I think, once noted that it’s allowed to transfer once after the original owner. Haven’t double-check, but didn’t think it necessary. Based on that, I would think the next owner is in for a big tax increase–to something like $4000, based on 2008 (pay 09) rates”
I do remember Gary mentioning something like that 🙂
4k is still not bad taxes for a 3br 2400sqft place.
man its been quiet on CC the past few weeks
Groove – you could always live in Groveland Park, a few blocks north.
“Groove – you could always live in Groveland Park, a few blocks north”
Sarcasm kind of detected need clarification? is it a play on words or are you talking that park around there thats called a Park but is just a extra large empty lot? I havent been in that area in about two-three years.
“CK on March 22nd, 2010 at 11:46 am
Bob, I suspect there is also a bias in favor of those who pay higher taxes with regard to services. Such as more police cars patrolling etc.”
Actually, it works the other way around. Note that the 7th District (Englewood) has 15 Beats (with a car assigned to each beat, in addition to wagons, rapid response cars, etc):
https://portal.chicagopolice.org/portal/pls/portal/docs/1/378192.GIF
Meanwhile, the similarly sized 19th District (encompassing parts of Lakeview, North Center, Lincoln Park) has 9 Beats:
https://portal.chicagopolice.org/portal/pls/portal/docs/1/378216.GIF
Both – it’s a private park with old houses along the south side.
“Both – it’s a private park with old houses along the south side”
Crazy! i read about it and its creator last night, i never even knew it existed and never passed by it. Good heads up Sheridan B 🙂
now if i can lobby the city to add an extra “o” to the name i would be all set!
You can see it from the IC tracks – I’ve never had an opportunity to visit it.
You should do that – or just move there and do it by stealth.
“You should do that – or just move there and do it by stealth”
a can of rusty and a fat cap it would be changed overnight 🙂
The pictures don’t begin to do this incredible condo justice!
100 year old marbled vestibule, stairway with crystal chandelier.
Magnificient! This beautiful area is 10 minutes from Museum Park and Cellular Field.
The park in front is listed as one of the top ten places to exercise.
As for shopping, does anyone walk to the store in the suburbs?
The beauty of Bronzeville / Oakland/ Kenwood/ Hyde Park can never be replicated! Thankfully, there is Oakenwald, King and Drexel to mention a few Streets that have preserved homes that take your breath away!
This neighborhood has improved tremendously in the past ten years. It is obviously still far from established, with very little viable commerce and ample remnants of its former self, but the location has incredible potential (right next to the lake near 39th street ramp). The push of the south loop southward and hyde park/kenwood northwood have really shrunk the no-mans-land zone between hyde park and the city. Obviously, no neighborhood is a sure bet for gentrification, but I’ve always thought that this area is as good as it gets. Having kids I wouldn’t do it, but if I were younger and single I might pounce on this. Downtown in 10 minutes, two minutes from the lake. hard to beat at that price.