Live Just Seconds from Lincoln Park in an 1895 Row House: 417 W. Roslyn
This 3-bedroom vintage row house at 417 W. Roslyn in East Lincoln Park just came on the market.
It is just a stones throw from Lincoln Park and is on a block where many of the homes have the old gas lit lamps near the street.
Yes, parking is an issue but this row house has 1 deeded parking space nearby (the listing doesn’t say how far away.)
Built on a 17×86 lot, the row house has four stories.
It still has its original staircase as well as some stained glass.
The kitchen has white appliances and there is a back deck.
The master bedroom is on the top floor and the other two bedrooms on the second floor.
The row house does not have central air.
Is this a deal at this price?
Lynne Jackson at Kopley Partners has the listing. See the pictures here.
417 W. Roslyn: 3 bedrooms, 3.5 baths, no square footage listed
- Sold sometime before 1991
- Currently listed for $875,000
- Taxes of $4912
- No central air
- Deeded parking available nearby
- Bedroom #1: 27×19 (third floor)
- Bedroom #2: 11×14 (second floor)
- Bedroom #3: 18×17 (second floor)
Great place – awesome location. The only downside is parking. Also, what is up w/ the taxes – shouldn’t they be more like 10-12k?
Unfortunately, just outside of the Lincoln school district attendance area. Seems to me if you like the neighborhood and want to pay for overpriced ELP, buy one block south.
well the taxes are low because the place last sold back in ’91 right?
and i’d say another downside is no central air.
great location no doubt, and i’m no expert on pricing in this neighborhood, but $875K will buy you a LOT of nice, large 3 bedroom places in Chicago (in the best locations) with most all the bells and whistles. (2 indoor spots, outdoor space(s), views, etc.)
here’s another case of funding some baby boomer’s retirement dreams
It’s built on a 17×86 lot, but the Master Bedroom is 27×19. How does that work?
JMM: So Lincoln starts at Arlington (or Fullerton)? I realize that Lincoln is great, but would attending Alcott really consign a kid to a dismal future? I’m actually on the fence about a place between Roslyn and St. James (2500).
“clio on September 13th, 2010 at 10:07 am
Great place – awesome location. The only downside is parking. Also, what is up w/ the taxes – shouldn’t they be more like 10-12k?”
It has home owner exemption, senior exemption and senior freeze exemption.
“It’s built on a 17×86 lot, but the Master Bedroom is 27×19. How does that work?”
Haha, great catch! You know those old houses. The floors are not always level, which means more floor space.
“The floors are not always level, which means more floor space.”
LOL yes the floors are at a 26 degree angle
“great location no doubt, and i’m no expert on pricing in this neighborhood, but $875K will buy you a LOT of nice, large 3 bedroom places in Chicago (in the best locations) with most all the bells and whistles. (2 indoor spots, outdoor space(s), views, etc.)”
Pretty decent price for a townhouse in this location. If you don’t need a townhouse, you can get 3BR condos in the area for a 2-3 hundred thousand less. And if it were in the Gold Coast it would start at $2mil.
“And if it were in the Gold Coast it would start at $2mil.”
BZZZZT! WRONG!
MLS 07597230 is only but one example of a townhome in the GC for far less than $2mil. In fact there are 12 properties alone in the Near North side that have at least three bedrooms and 3.5 baths for under $1mil.
JMM: So Lincoln starts at Arlington (or Fullerton)? I realize that Lincoln is great, but would attending Alcott really consign a kid to a dismal future? I’m actually on the fence about a place between Roslyn and St. James (2500).
Lincoln’s northern boundary is Arlington, until it hits Orchard, at which point it goes south to Fullerton.
Alcott is also a very good school, and would be a great choice as well.
I’m sad looking at this listing because if that place is “only” worth $875K, then my much smaller rowhouse elsewhere in the area is probably now again worth about what we paid for it in 2001. Not that it matters since we’re not looking to sell, but still.
“LOL yes the floors are at a 26 degree angle”
Good job with the trig Sonies!
Sorry, forgot the quote marks around anonny’s question.
This isn’t a townhome, and certainly is nothing like the wretched townhomes scattered throughout LP. This is a beautiful 4-story home on one of the best blocks in LP (but question for the locals: why is this block such a pristine showcase of stately homes, while the parallel block on St. James is practically a shanty town?). It has deeded garage parking, which I doubt is more than a block away (likely within half a block).
It’s great for a family with one kid but could work just fine with two kids. I’d take this over most of the places in west LP that cost at least twice as much, but which have central a/c and a fourth bedroom (if one must drive to the park/zoo/lake, why not just live up in the Bell/Blaine zone, or up in Evanston, for that matter?). If I had the dough I would be gunning to close this place at around $800k and would probably live there the rest of my life.
So you’re saying you like the place, anonny?
“MLS 07597230 is only but one example of a townhome in the GC for far less than $2mil. In fact there are 12 properties alone in the Near North side that have at least three bedrooms and 3.5 baths for under $1mil.”
Not the Gold Coast. And this development sucks.
agree w/ alanon and annonny, this place is much better than the cookie cutter townhouses/developments that sprouted up in the 1990s and early 2000s.
““It’s built on a 17×86 lot, but the Master Bedroom is 27×19. How does that work?””
it’s an agrregate sum of a few smaller rooms all magically connected by an adhesive made of realtor/seller desire?
LOVE! I think this may be my ideal location in all of Chicago.
Wish there were more pictures.
“1 Deeded Parking Space comes w/ home. The space $292.83 taxes & $147.79 month assessment”
So it’s a space in a nearby highrise garage that really costs $175/month – Nice.
Look closely at walls and finishes in the pictures, rather than ambience. Carefully edited handful of photos. This house is a future major rehab project for next purchaser, whether purchaser is aware of it at closing or not. Buyer needs a serious home inspection, plus input from a rehab-experienced architect and a general contractor. I bet the electrical hasn’t been updated in the past 50 years. $800,000 plus another $500,000 rehab is my guess. No sale yet, and not a “deal”.
““LOL yes the floors are at a 26 degree angle”
Good job with the trig Sonies!”
I cheated and used a computer 8)
You make good points Architect. Anyone lucky enough to get this place will also need to be lucky enough to have access to another $500k.
Still, this place would be well worth $1.3 after a gut rehab. Again, there are so many places going for $1.3 (and more) that couldn’t contend with this place. It’s located practically inside of the park (and would be, were it not for the three mansions blocking its path, including the Wrigley and that crazy modern place). People spend $1.5 for four-beds in LP near the L, the expressway, big box stores, college kid apartments and Section 8 properties.
“Not the Gold Coast. And this development sucks.”
alanon – I am curious why you think this? We never toured these bc we opted for a “better” location from a CPS options perspective but I always thought they looked nice on the outside.
“JMM: So Lincoln starts at Arlington (or Fullerton)? I realize that Lincoln is great, but would attending Alcott really consign a kid to a dismal future? I’m actually on the fence about a place between Roslyn and St. James (2500).”
Yes, the south side of Arlington and below.
http://www.lincoln.cps.k12.il.us/about/LS%20page%204%20brochure.pdf
Alcott is not among the top CPS schools in Chicago. Lincoln, on the other hand, is one of the best in the state, let alone the city of Chicago.
So yes, Lincoln is worth it. I have friends who could send their children anywhere (e.g., Latin or Parker if they can get in) yet specifically choose to send to Lincoln.
A phenomenon not often discussed is the booster programs for these schools. At a school like Lincoln, fundraising takes care of a ton. Though I am not a CPS parent, I know Burley encourages around $1,000 per year for parents who can afford it (totally voluntary, but you know, type-A mommies can exert some serious peer pressure) — not sure what Lincoln donations are. Anyway, you get the advantages and resources of CPS with the funding security of a private school. It is a good deal.
Where we are (dist 38) funraising is a big thing. As of a few years ago the parent volunteer assoc used to contribute upwards of $500k to the school per year, though that is down recently (surprise surprise). Still, it makes a difference.
“alanon – I am curious why you think this? We never toured these bc we opted for a “better” location from a CPS options perspective but I always thought they looked nice on the outside.”
Sorry, just personal preference I guess. I also think it’s a bad location. Hemmed in between LaSalle and that really busy section of Clark. It’s always struck me as a ghetto for the moderately wealthy.
Oh by the way, 500k is about $1,000 per student where we are. At CPS spending per pupil I think that is around 10% (or maybe more). Again, it makes a difference as its obviously only covering incremental things like classroom equipment, special projects, outings, etc.
Thanks JMM, the contribution factor was not on my radar.
If one lives within the Lincoln boundaries, is one’s kid assured attendance to Lincoln?
“If one lives within the Lincoln boundaries, is one’s kid assured attendance to Lincoln?”
Yes. Unless (until?) they change the boundaries.
I want that attached desk dammit
JMM – I’ve heard that Lincoln’s suggested contribution per child is somewhere around $1K as well.
If I ever plan on selling my house, remind me to call Lynne Jackson… stellar job of representing the house Lynne!
Architect is correct, this house needs a lot of work and I think $500k in rehab would get you a nice place, $750K a nicer place. Or… you could just buy this place around the corner and be done with it: http://www.redfin.com/IL/Chicago/2317-N-Cleveland-Ave-60614/home/13350348
Funny thing, this place would have fetched over $2mm just a couple of years ago.
“Where we are (dist 38) funraising is a big thing. As of a few years ago the parent volunteer assoc used to contribute upwards of $500k to the school per year, though that is down recently (surprise surprise). Still, it makes a difference.”
JMM,
question about the sports in your area, is it done through the park or through the school? i would think a smaller town would do it through the school. and are they any good?
Agree with architect in that this place is in great need of a gut rehab before it’s period features could be enjoyed and appreciated. I am sure the electrical and plumbing have not been touched in years if at all. Combine that with the fact you would have to install a conventional AC unit (rather than a space pak unit) and your rehab cost would almost equal the purchase price. Remember all of those period details would require a specialist to renovate them and I know their labor costs far exceed those of a regular construction worker.
The costs involved in restoring period homes to their original glory is the reason I have not returned to that section of the market as it is nearly impossible to recoup the expense not to mention realizing any sort of profit after all is said and done.
For a personal residence that would be lived in for a few decades, I am all for a person buying it and doing the work. for a person to buy it with the thoughts of reselling it once the market returns to a shadow of it’s former self…not a wise investment.
Groove, the park district is pretty limited here. Sports are done through Sears. Despite the size issue, they manage to field a decent middle school football team. Our oldest are still to young for that stuff.
That said, if park district resources are your thing, there are about 50 homes that have W park district and addresses but are in dist 38. Tends to be viewed as the best of both worlds and you don’t have to put up with grief for the zipcode (or less grief).
“there are about 50 homes that have W park district and addresses but are in dist 38”
thank you, i will need to look into that
Groove:
Cheapest one of those currently listed:
http://www.redfin.com/IL/Winnetka/72-Abbottsford-Rd-60093/home/13783619
50 Warwick (at $1.5) is open on Sunday.
ouch!
I’ve actually been to this house and am a buyer, obviously a lot of you have not. I think it’s stunning and am considering it. I would happily live here. For this price you would never find a victorian brownstone in this condition and location.
This shows as under contract now. Just following up.
Thanks for the update. They did one price reduction. The parking, it turns out, is up the street (so not “with” the property.)