How Hot is the North Side? A 3-Bedroom SFH at 1338 W. Grace in Southport
This 3-bedroom vintage single family house at 1338 W. Grace in the Southport neighborhood of Lakeview came on the market on February 19, 2020.
It was under contract within 5 days- by February 24.
Built in 1891 on a non-standard 58×40 lot, it has a front porch and a side driveway that fits 3-cars. The listing says they have made $3,000 a year renting out spaces for Cubs games and other events.
The listing calls it “remodeled vintage chic.”
The house has a newly updated kitchen with brand new white quartz counter tops, a breakfast bar, a white subway tile backsplash, and stainless steel appliances.
There are new floors in the kitchen and hallway.
The first floor also has a den with a wood burning fireplace.
All three bedrooms are on the second floor, with new hardwood floors, along with an “urban chic” bathroom with new tile floor and vanity.
There’s a big rec room in the basement with laundry along with a new drain tile system. They also spent $30,000 to make sure the basement was “dry as a bone.”
The house has a new furnace, air conditioning and dishwasher.
It’s in the Blaine school system, which is just down the street.
It’s near all the shops and restaurants (Dairy Queen!) of Southport and just a few blocks from Wrigley Field.
The house is currently listed at $825,000, which is $195,000 above the 2016 sales price of $630,000.
I normally don’t cover properties that are under contract but many north side properties are going under contract almost immediately right now.
Is it a sizzling hot market or is the lack of inventory really the problem?
Anyone hearing about bidding wars?
Jennifer Evans Piet at @Properties has the listing. See the pictures and floor plan here.
1338 W. Grace: 3 bedrooms, 2 baths, no square footage listed, single family home
- Sold in April 1993 for $206,500
- Sold in September 2001 for $547,000
- Sold in August 2016 for $630,000
- Was listed on Feb 19, 2020 for $825,000
- Under contract on Feb 24, 2020
- Taxes of $12,992
- 3-car driveway (no garage)
- Central Air
- Wood burning fireplace
- Not sure about these room sizes as they don’t match those in the floor plan
- Bedroom #1: 16×12 (second floor)
- Bedroom #2: 17×11 (second floor)
- Bedroom #3: 15×12 (second floor)
- Den: 12×11 (main floor)
- Living room: 14×13 (main floor)
- Dining room: 16×14 (main floor)
- Kitchen: 13×11 (main floor)
- Family room: 26×13 (basement)
- Storage: 10×6 (basement)
Man, somebody got took.
“There’s a big rec room in the basement with laundry along with a new drain tile system.”
No pix = the ceiling is maybe 76″ high.
“They also spent $30,000 to make sure the basement was “dry as a bone.””
read that as: there were recurring floods. If the basement was semi-finished before, wonder if they managed to eliminate the mold, too.
Note that the real feature is the overhead sewers, not the “new drain tile system”. I will say that $30k is a good value for that work, especially including a stubbed in bathroom. Would like to know who their plumber was.
Looks like it previously rented at $3800/mo
Nice place for someone (not me)
Its fun to compare this to the $800k Shitshack in LS…
Thanks JohnnyU, now I’ve got the B-52s stuck in my head singing “Shitshack.” Great, just great.
nice place. will likely go for around list price.
“Looks like it previously rented at $3800/mo”
So, with some reserves for maintenance and insurance, they’re ask price is about a 3.5 cap? Yikes!
Value implied by that rent is closer to $600k.
Here is the 2016 listing if people want to compare.
https://www.redfin.com/IL/Chicago/1338-W-Grace-St-60613/home/13384122/mred-09338614
Even with the tiny lot, no yard, and no garage, I don’t think a quick turnaround for a house priced at $825K in Southport screams hot market. A SFH in that area for under $1m is just very rare.
The increased price from 2016 seems easy to explain by the work done.
“will likely go for around list price.”
Yeah, think the odds right now are like -100,000,000,000,000:
“It was under contract within 5 days- by February 24.”
I missed it before, but:
“New Furnace, A/C”
but still wall-mounted window a/c upstairs??
“but still wall-mounted window a/c upstairs??”
Looks like they just boxed it in. You can see the condenser in the drive. Maybe they didn’t run the ductwork upstairs as I don’t see supply/return grilles
Pretty lazy and doesn’t bode well for the quality of work done.
Nevermind, see the window unit in the exterior shot
Im really doubting the quality of everything on this one
The one bath they didn’t touch is just gross looking and the one they did touch was mainly a floor re-do. They should have replaced all the wall / ceiling tile too. It looks uneven in the pictures at least.
Why oh why is there a little gap between the fridge and the dishwasher? It was there before, still there now.
Agree with JohnnyU. I question the thoroughness of everything that was done here – – although it shows much better than before, a lot of it looks cosmetic.
“No pix = the ceiling is maybe 76? high.”
the floor plan says 7′ but take that with a grain of salt.
Looks like the refrigerator coils haven’t been cleaned in years based on the dust build up on the bottom cover of refrigerator. Also, there looks to be some water damage in the mud room in the corner near the backpack.
Love the yard and privacy it provides……….. Oh wait.
Only one tiny bathroom on the second floor, for all 3 bedrooms to share?? No master bath. And a very small bathroom on the 1st floor. How will owners handle this in the morning, getting ready for work and school.
Most original Chicago bungalows had only one bath. A former colleague of mine who certainly earns enough to buy a much bigger place insists on staying put in such a bungalow (guess he will retire in his 50s!). One figures it out – – maybe get up earlier, shower the night before, etc etc.