It’s Back: 3-Bedroom Southport Vintage Cottage Lists for $899K: 1338 W. Grace
This 3-bedroom cottage at 1338 W. Grace in Lakeview’s Southport corridor came on the market in December 2023.
Built in 1891, the house is on a smaller than standard lot measuring 58×40. It has no back alley but instead, has a side driveway which is accessed from the street.
If this house looks familiar, that’s because we last chattered about it last year, in November 2022 and, prior to that, in February 2020, just as the coronavirus pandemic was about to hit.
Back in 2020, the house came on the market in February and was under contract within just 5 days.
See our 2020 chatter here.
In 2022, it came on the market when rates were around 7%. It did not sell and was withdrawn from the market just one month later, in December 2022.
See our 2022 chatter here.
This house has hardwood floors on both the first and second floors.
The first floor has the kitchen, the living and dining rooms, a family room and a full bathroom.
If you recall, the kitchen has wood cabinets, white quartz counter tops, a breakfast bar, a white subway tile backsplash and stainless steel appliances.
There’s an enclosed porch off the kitchen that can be used as a mudroom.
The family room has a wood burning fireplace.
All three bedrooms are on the second floor along with one full bath.
The primary suite has a walk-in-closet and the front guest bath has a closet which has been converted into a work-from-home space with a desk.
The house has an unfinished basement with the “possibility” to add another full bathroom. There are architectural and engineering plans already drawn up and are “happy to be shared.”
The house has central air.
The listing also says a carport, or similar structure, could be added by the next owner. There are 3 off-street parking spaces available. In the 2020 listing, it said that you could make as much as $3,000 from renting out the spaces for Cubs games. In this new listing it says “earn some bonus cash renting any of your three parking spots for 80+ Wrigley events a year.”
The house is in the Blaine school system, which is just down the street.
It’s near all the shops and restaurants (Dairy Queen) of Southport and is just a few blocks from Wrigley Field.
The house is now listed at $899,000, which is $20,000 more than last year when it was listed at $879,000.
The inventory in Southport is extremely low. There are no other single family homes priced under $1 million in the neighborhood.
You CAN get a new construction 3-bedroom condo just a few blocks away on Byron, which is the same 2300 square feet.
1511 W. Byron is on the market for $1,099,500. You can see that listing here.
Rates are still over 7% one year later but inventory is even lower.
Will this sell quickly this month?
Brad Zibung at Compass has the listing again. See the pictures and floor plan here.
Or see it at the Open House this weekend on Saturday, December 9, from 1 to 2 PM.
1338 W. Grace: 3 bedrooms, 2 baths, 2300 square feet, 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
- Sold in March 2020 for $795,000
- Was listed in November 2022 at $879,000
- Withdrawn in December 2022
- Currently listed at $899,000
- Taxes are now $12,254 (they were $13,492 last year and $12,992 in February 2020)
- 3-car driveway (no garage)
- Central Air
- Wood burning fireplace
- 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)
- Walk-in-closet: 9×8 (second floor)
- Mudroom: 12×6 (main floor)
LOL 2300sf, especially with the basement
Interesting sales strategy raise the price when it doesnt sell
Unit is still a turd with questionable renovation history
Re 1511 Byron:
“PICTURES ARE OF A DIFFERENT HOME (ON A STANDARD LOT W/10′ LESS WIDTH) BY THE SAME BUILDER WITH SUBSTANTIALLY SIMILAR BUT NOT IDENTICAL FINISHES.***”
Stupid, especially when showing that (imo) asinine dinginr oom picture window looking at a wall.
“2300sf, especially with the basement”
It’s probably about 2300 counting the basement–if you give full credit for the sloping ceiling areas. Upstairs is ~600, main ~850, basement ~800.
Always love the $400 range in a $900k property.
As I think I mentioned in one of the priors, was in this place when it was listed in ’01. It was ok then, but imo overpriced for the small lot–definitely a location premium. Similarish worker cottages a little further west could be had for ~$450k on standard lots. Big positive was and is the curbcut, and possible 3 car parking.
Another reminder–the actual, legal, street ROW is right at the bottom of the steps. What about the DQ parking lot you ask? Partial street vacation done in 2004, west of the alley. Front yard is technically city property.
“It’s probably about 2300 counting the basement–if you give full credit for the sloping ceiling areas. Upstairs is ~600, main ~850, basement ~800.”
600+750+700. Unfinshed basement basements are tough (IMO) to qualify, especially when building out would yield ceilings a 6′
Got to give the Bryon designer some credit – main deck isnt accessed thru the MBr
No one seems to want to stay more than a couple of years. I am guessing that basement still has issues from time to time. Friends of mine just discovered that one reason their basement was a more or less constant source of moisture was that the neighbor’s drip line was programmed to run for six hours a night (!!) Not saying that is what is happening here but I am guessing the displacement of new construction has impacted where water goes in a bad way.
“Got to give the Bryon designer some credit”
All credit goes to the 35′ wide lot.
“600+750+700. Unfinshed basement basements are tough (IMO) to qualify, especially when building out would yield ceilings a 6?”
I had a friend who built out the basement of an 1890s graystone. It was similar to this house in original height. They dug out the foundation to meet code and put a 1-bedroom unit in there. It was very nice.
Did this cost a lot? Yes. Which is why someone hasn’t done it to this house yet.
Buyers don’t want to do anything. They want the updates done and they don’t want to renovate.
“Interesting sales strategy raise the price when it doesnt sell”
Chicago prices are up in the last year JohnnyU.
This is the only house on the market in Lake View under $1 million. If you don’t want a condo or townhouse, this is your only option.
It’s in a great location and has parking.
“All credit goes to the 35? wide lot.”
You’re underestimating the stupidity of most Architects/Designers
“Chicago prices are up in the last year JohnnyU.”
https://www.youtube.com/watch?v=gnN_AmvYDGY
“There are 3 off-street parking spaces available. In the 2020 listing, it said that you could make as much as $3,000 from renting out the spaces for Cubs games. In this new listing it says “earn some bonus cash renting any of your three parking spots for 80+ Wrigley events a year.”
Too lazy to go back and read old thread….did we ever figure out how that would work? I’m guessing you need to have the car owners leave their keys in case they return in a different order than they parked. What are we charging?
“unfinished basement”
is this a million dollar house if the basement was dug out and finished?
“is this a million dollar house if the basement was dug out and finished?”
And if the flood mitigation was done properly and at 7% rates, not quite, but not far off
“Too lazy to go back and read old thread….did we ever figure out how that would work? I’m guessing you need to have the car owners leave their keys in case they return in a different order than they parked. What are we charging?”
Not enough money to deal with stupid, drunk Cubs fans. But I repeat myself
Would the owner carry any liability handing keys over to an obviously inebriated individual of questionable moral turpitude?
“is this a million dollar house if the basement was dug out and finished?”
Yes. Duplex downs are selling for at least that much in the neighborhood. Single family home definitely preferred, even if on a smaller lot like this.
“This is the only house on the market in Lake View under $1 million. If you don’t want a condo or townhouse, this is your only option.”
I thought everyone just traded down in their expectations and accepted it? SHouldn’t they be looking in Bowmanville instead?
“I thought everyone just traded down in their expectations and accepted it? SHouldn’t they be looking in Bowmanville instead?”
They will look wherever there is inventory, right? $1 million hasn’t bought you much in Southport in years.