Lis Pendens Filed on 170 W. Eugenie in Old Town
We just chattered about this renovated vintage single family home in Old Town at 170 W. Eugenie in November.
A lis pendens has now been filed on the property (by JPMorgan Chase.)
Here’s its history again:
170 W. Eugenie: 5 bedrooms, 5.5 baths, built in 1891, no square footage listed
- Sold in January 1988 for $227,000
- Sold in October 2003 for $774,000
- Originally listed for $2.975 million in October 2008
- Reduced
- Currently listed for $1.999 million
- Lis pendens filed in November 2008
- Taxes of $13,913
- Doesn’t appear to have parking
- Central Air
- Andrea Serban at Coldwell Banker has the listing. See the pictures here.
The 2003 owners were headed toward foreclosure and they were asking for a 300% profit? Am I reading this correctly?
Nice place though. If it were 1988 I’d be sold.
Nicole researched this. Those wealthy enough to afford a $775k property rarely go into financial distress…except in instances when they do.
Bob.. Nicoles a freakin tool. She should spend some time just down the street at Shitadel, those guys bought large and are all in a freakin panic right now. Dubai should look good with oil down here now.
Wait I forgot my true feelings.. she should be home learning to cook.
Nicole is quite entertaining; I hope she comes back. I can’t wait for her to tell us to buy now before prices go up!
Real Estate ALWAYS goes up in value! At least that’s what my realtor Nicole told me in 2003 when i bought a $774k house on a 5 year interest only ARM and I only make 60k a year! I was all like this is sweet! Thanks Nicole! She got me so much house for my money, AND a huge appreciation rate on my property!
Good god what a location.
Nicole must be Steve H’s wife.
Again I must ask why all of you renters hang out so often on a real estate blog? Cheerleaders are great but why don’t some of you get into the game? Get a hobby or something. Go back to school and get a better job. Maybe then you can afford some real estate…
SteveO have you been hitting the eggnogg hard again tonight? Or is that just the RE Kool Aid punchbowl you’ve had too much of?
Just a question Bob? Why are there so many people with no interest in real estate so earger to comment on every property that is posted? See I have an interest as I am in the industry and invest in soem of these foreclosures. Why are all the renters here?
Steve, I am here because al the sites I like to go to my mom put on Cyberprotect and now I can no longer access them.
Heh I lauged at Ze’s comment. While the back & forth about if a place is overpriced or not is entertaining, I really enjoy the comments about a location or history of a builder (I had no idea about American Invesco prior to crib chatter). I’m no longer a renter, as I bought to get a place I couldn’t rent (location), but I also get a lot of value on the follow up posts for places that do close & sell.
A recent example would be the “Park Ridge in the city” place that was just posted.
” the “Park Ridge in the city” place”
You mean the “Lake Forest in the City” place in the Gold Coast, or the Norwood Park place? Because the Norwood Park place would be “Park Ridge in the City”–and only about a mile away, too.
Hey, speaking of American Invesco, does anybody know if that company is descended from real estate mogul (and yes, spouse of the Queen of Mean herself) Harry Helmsley’s Invesco (I think that’s the spelling)?
“speaking of American Invesco, does anybody know if that company is descended from … Harry Helmsley’s Invesco (I think that’s the spelling)?”
Nope. And it’s not the same spelling–American Invsco is missing an “e”. American Invsco is a Gouletas family operation, founded in Chicago about 40 years ago.
Thanks, drat, that would be been more fun had they been related. Oh well.
I meant to add, because Harry was as reviled a condo converter as they are, if not worse.
For what it’s worth, we’re not all “renters”. My immigrant grandparents saved up their pennies and owned a brick 3 flat. We lived in one unit, tenants in another, when I was growing up. After my parents died, my sister and I rehabbed their little 2 flat building, and we now rent it out. In the late 90s I tried my hand at real estate, but wasn’t comfortable trying to convince people that there was value in what I clearly could see there wasn’t. So, I own, I’m a landlady, a former Realtor, and I live in the “nice” part of Logan Square. Watching what’s going on with real estate in the city and in my own neighborhood have been an avocation with me for decades. And, my gut has been right thus far, as well. While I’m glad we had some development in the hood, I could clearly see it was development that really didn’t fit in very well at all. So now we’ll see what happens with the hulking SFH’s that are asking prices that really would only be appropriate on Logan Boulevard, not some side street closer to Fullerton Ave.
Steve I am here because I am fascinated by financial markets and bubbles in particular and I think this real estate bubble is the largest in the history of our lifetime and likely the largest in 80 years.
The Gouletas’ may well have been inspired by Harry–that I have no idea about. I don’t know of any situations in Chicago where people were tricked or physically forced out of their apartments to facilitate a conversion, but then we don’t have rent control like NY.
SHEITman said
“Just a question Bob? Why are there so many people with no interest in real estate so earger to comment on every property that is posted? See I have an interest as I am in the industry and invest in soem of these foreclosures. Why are all the renters here?”
Renters are here to get real opinions from people who won’t sugar coat everything real estate related like clueless realtors. My background is in Economics, therefore I understand the basic concepts like supply and demand. Most realtor’s backgrounds are in sales and marketing or GED’s.
I recently got married and myself and my wife are looking for our first house/condo because we are sick of pissing away $1500 a month to rent.
Most renters become owners eventually, so why the hate on renters Sheitman?
Oh come on, you’re not pissing away money in rent, you’re paying for shelter. If you had a mortgage you’d be pissing away money in interest. Stop with the realtwhore propaganda!
“I recently got married and myself and my wife are looking for our first house/condo because we are sick of pissing away $1500 a month to rent.”
And your evidence, Steve, that we are “all renters” is… what, again? Moreover, it certainly seems more appropriate that renters–and thus potential buyers–would frequent this site than those who had already purchased for the long haul. So why not ask why *homeowners* are here?
Sonies:
Stevo doesn’t hate renters–renters pay the mortgages on his vast rental empire. He’s just trolling, as usual.
Perhaps his tenants aren’t agreeing with his “rent always goes up” charade any longer?
“Oh come on, you’re not pissing away money in rent, you’re paying for shelter. If you had a mortgage you’d be pissing away money in interest. Stop with the realtwhore propaganda!”
Puhlease. I’d much rather be using a small portion of that $1500 a month to build equity in something. So to me it is pissing away money I could be saving and creating value. And I understand your arguement on you’re paying for shelter. And don’t you dare call me a realtwhore! I’m insulted! 🙂
With the recent price declines you’ll be pissing away your ‘equity’ too. A 5% price decline (like the comps in my building) is the first couple years principal payments in a 30 year mortgage. I rent and pocket the savings.
“Puhlease. I’d much rather be using a small portion of that $1500 a month to build equity in something. So to me it is pissing away money I could be saving and creating value. And I understand your arguement on you’re paying for shelter. And don’t you dare call me a realtwhore! I’m insulted! “
I’ve always thought it was better to piss away $1500 a month in rent than about $3000 a month to own the same place. Sure there’s a tax break, but tax deductible does not mean free. This kind of arrangement only made sense when the market was appreciating 10+% annually, but would be economic suicide today.
Heitman, you love it when renters post here. Who else would you school about the great wealth created by buying real estate? If you really didn’t want to hear any negative talk about real estate you’d go to yochicago.com where dissent is not tolerated.
I completely agree with both of you guys. We’re not in a hurry to buy, but we are pretty sick of our current apartment and would like to buy by the end of Summer in 2009. Hopefully these clueless idiots will lower prices by then so it actually makes sense to own rather than rent.
This place now appears to be bank-owned, according to the sticker on the door. I live nearby and just happened to notice. I can’t find a foreclosure listing anywhere. Hopefully this beautiful home doesn’t rot on the non-listed foreclosure market too long.
Sold for $950k (mls apparently claimed $1.195mm) in February and is back on the market for $1.475mm. Open this Sunday!
Thanks for the scoop about the flip.
I can’t remember exactly- but isn’t that the same kitchen as before?
Still doesn’t have parking.
I’ll be watching this one.