In The Last 13 Months, This Bowmanville 4-Bedroom Greystone Reduced 18%: 1944 W. Farragut
We last chattered about this 4-bedroom greystone at 1944 W. Farragut in Bowmanville in February 2012.
See our prior chatter here.
Originally listed for $1.349 million in May 2011, you all chimed in as to whether the Bowmanville neighborhood, which is part of Lincoln Square, could command that high of a price.
The consensus was: “no” (or “hell no” as roma put it.)
Most of you thought it wouldn’t sell for over $1 million.
4 months later, the house has been reduced another $150,000 to $1.099 million.
If you recall, the listing indicates it was formerly a two flat that was converted into a single family home.
The house has 3 fireplaces, crown molding and a box ceiling in the living and dining room.
Four of the six bedrooms are on the second level, with the remaining two in the lower level where there is also a recreation room.
The rear of the house has also been updated to have a wall of windows, which the listing indicates is from the basement to the second floor.
There are also $23,000 in custom window treatments included with the house.
It has an updated kitchen with stainless steel appliances, a large island and stone counter tops.
The house is on a 125×29 lot, has a 2-car garage and 2 decks, including one on the roof of the house and one on the roof of the garage.
It is still the most expensive single family home on the market in the immediate neighborhood.
How hard is it to sell the most expensive house in a neighborhood?
Mary Foley at Conlon still has the listing. See the pictures here.
You can also see a video presentation here.
1944 W. Farragut: 6 bedrooms, 3.5 bathrooms, 4500 square feet, 2 car garage
- Sold in March 1995 for $168,000
- Sold in December 2001 for $417,000
- Originally listed in May 2011 for $1.349 million
- Reduced
- Was listed in February 2012 at $1.249 million
- Reduced
- Currently listed at $1.099 million
- Taxes of $9800
- Central Air
- 3 fireplaces
- Bedroom #1: 14×23 (second floor)
- Bedroom #2: 11×13 (second floor)
- Bedroom #3: 13×13 (second floor)
- Bedroom #4: 9×7 (second floor)
- Bedroom #5: 13×13 (lower level)
- Bedroom #6: 12×11 (lower level)
- Family room: 23×15 (main level)
- Recreation room: 21×23 (lower level)
if this sells for over 700k im going to get into development because I know the market s back.
This shabby two flat rehab will not sell in this market. unless they drop the ask 30%
$23k in custom window treatments?!? They don’t even seem special in the pictures. I think this place is the epitome of overdone. It is beautiful (although I miss the original vintage features rather than “new” vintage like the ceilings) but the seller is never going to get their money back. How many buyers really put a premium on having window treatments that cost as much as a car?
“How many buyers really put a premium on having window treatments that cost as much as a car?”
More than a few; but the question is what is the overlap between those who do and those who (a) know what a Bowmanville is, (b) realize it is in the city and (c) would so much as consider buying a house there. My guess it is a null set.
Love it, especially the rooftop deck – but trying to sell in this area for 7 figures is going to be tough. I can see someone doing it who is super successful and of hard-core Swedish extraction and wants to be in this nook, but that’s not a large pool of people. 5 years out for this price, easy.
I’ll go with $900.
And putting a bunch o photos together does not a *video* make.
I like it, but at this price level, I’d like it a lot more if it were in the Southport area (where it would fit in quite well).
Agree with DZ. The place is absolutely beautiful but it is priced too far over the level of the surrounding neighborhood. $900K sounds like top dollar for the place. $700K might be more like it, though.
It never pays to have the most expensive house in the area or to upgrade the place far over the level of the area. It will take a decade of more for this neighborhood to come near the level of this house, if ever it does. And why should it when there are already several prime neighborhoods in Chicago with a surplus of fine properties available?
If it were priced at 700 they would have multiple offers within a day. I’m estimating total cost of rehab to be 350-400k. ( I’ve actually seen the place and done rehabs myself, although not this one)
Clearly sellers overdid it and are still overpriced. I think 870-930k would get it done.
$700,000 is way underpriced for this. Where do you people live who are suggesting that?! This home is gorgeous and down the street from one that sold for $750,000 last year that is nowhere near as nice. They won’t likely get a million but certainly $900,000. In the southport corridor it would be easily 1.3.
This is one of the most stupidly overpriced houses ever featured on CribChatter. The fact that is still listed over $1 million is proof positive that this moron seller should be immediately sterilized to protect the gene pool.
Sorry, channeled my inner Clio for a sec…
This place looks really nice on the inside tho you would never guess it from looking at the outside. This is very dismal curb appeal, especially for something at this price. For just a few bucks they can easily add a couple bushes and some perennial flowers that would make a big impact. Never underestimate the value of curb appeal!
Right house, wrong neighborhood. Definitely overdone but I love tasteful greystone rehabs. Still way over. Also, slideshow is not a video but I like the keys on the track. I knew a Mary Foley and a Megan Foley, party chicks. Sup with no pics?
BTW, finally walked by Big Bricks in all their beer garden glory and the owners of that Bernice house are fudged. Lot value tops. Anyone eaten at Big Bricks or just a place to drink?
“BTW, finally walked by Big Bricks in all their beer garden glory and the owners of that Bernice house are fudged. Lot value tops. Anyone eaten at Big Bricks or just a place to drink?”
We should have a Cribchatter meet up at Big Bricks since it’s been a source of so much conversation over the last few months. LOL!
“They won’t likely get a million but certainly $900,000. In the southport corridor it would be easily 1.3.”
But…it’s NOT the Southport Corridor- so who cares?
That’s like saying, “in Lincoln Park this would easily be $1.7 million.”
So?
It’s in Bowmanville. Nothing can change that.
Roger Ebert said you can tell how good a movie will be by the end of the first reel. I think you can always sum up the quality of a renovation by looking no further than the front, in other words, no need to get out of your car: out of character front door (way out), out of character casement windows (or do they even open in the bays?), out of character porch columns / railings, in character working class bland front yard… well at least they used the neighboring houses as a historical reference on that one.
Say you do get out of your car and walk in thru the Menard’s ‘luxury collection’ front door purchased on the developer’s in-house rewards ‘a few thousand more points and I’m off to Cancun’ card: a $200 builders fireplace insert surrounded by an eastern European carpenter’s fantasy mantel… ‘I was inspired by the HGTV tour of Candy Spellings if-only-I-too-married-well manse, but this one’s in painted plywood’. The coffered ceilings… pure post Chausescuian execution palace tour inspiration, because nothing says *iconic* Chicago gray stone quite like ceilings that belong 3 feet higher in another period. The rest of the house, ah, well.
Thanks for your many improvements to one of our admired urban residential styles that Chicagoans can call their very own, Mr. Yacov Smirnoff. We look forward to yet another one of your renovations that dot our otherwise historically rich neighborhoods http://cribchatter.com/?p=9968
The rehab is not that bad. The problem with the front of a working class home being too nice is:
1) How can someone become so rich,they must have stole the money…and
2) “come rob me”
Big Bricks is nice. Much nicer than what Grizzly’s had devolved to. They did a nice job renovating the inside and they still have a decent outdoor area. Food was good too.
“We should have a Cribchatter meet up at Big Bricks since it’s been a source of so much conversation over the last few months.”
“Big Bricks is nice. Much nicer than what Grizzly’s had devolved to. They did a nice job renovating the inside and they still have a decent outdoor area. Food was good too.”
The berenice house just reduced to $449 plus an open house on sunday! Seems like the right time for big bricks.
Open house on Father’s Day? Is that useful?