Looking for Something Unusual? Former Convent Available: 4208 N. Kedvale in Old Irving Park
The listing says this 7-bedroom single family home at 4208 N. Kedvale in Old Irving Park is the former convent of the church.
Built in 1934, the house is now bank owned.
It is only a few blocks from the Irving Park Metra station.
It has central air but it appears that there is no parking.
The listing also says it is “cash only.”
Is this a deal?
Lisa Nowogurski at Prudential Starck Realtors has the listing. See the pictures here.
4208 N. Kedvale: 7 bedrooms, 4 baths, 3008 square feet
- Sold in May 2000 for $270,000 (per Chicago Tribune records)
- Bank owned
- Was listed in September 2009 for $349,900
- Reduced
- Currently listed for $299,900
- Taxes of $5499
- Fireplace
- Central Air
- No parking
Correction: actually listed at $299,900.
Cash only usually means there’s something wrong with it so it is unable to be financed. Still $300,000 seems decent (except that it’s on the wrong side of Irving Park!).
Thanks Matt. They just lowered the price today. The post has been corrected.
no yard and no parking are killers for this property. This house is basically on a land-locked 1/2 piece of property. The church behind comes up to nearly the back of the property.
Cash only and in need of repair/rehab would mean that this would be bought only by a developer. However, that market is not around anymore (as much, at least).
I would hat to be awoken every Sunday morning when the bell rings for 7am mass.
What a dump, that place probably needs an additional 300k in work
Holy Moley.
hey john
drop this place in bucktown, it will list for $600k-700k, and sell too!
I’d be interested in this place if it were in Bucktown for shizzle.
Except for the no parking and no yard would still be a bummer. I guess I’d have to convert one of the bedrooms into parking and another one into a yard… Or something like that.
this place is interesting, i wonder how much work needs to be done? at 250k it may be a great deal.
parking can be a bit rough at times around there with all the rentals. (rough meaning maybe a block away).
HD, is it still concidered “Old” Irving Park that far north? or is it just irving park?
its a hop skip and a jump to Suzie’s Beef, we all know groove loves his italian beef 🙂
It appears as if this and the place next door (on the corner) had a combined mortgage of $741k in 2005. But there is something very screwy with the PINs (ie 4200 N Kedvale has 3 PINs), so I’m not sure.
It is still considered old irving park but it’s the less desirable half. The more desirable half is on the south side of irving. OIP used to be one contiguous neighborhood until the expressway cut it in half and irving park road was widened.
That particular portion of OIP (east of highway, north of irving) has a lot of rentals and condo conversions. I’d consider buying a home in that half if there were any ‘deals’. But there isn’t. Interestingly enough, according to redfin, no sfh has sold all summer (in this portion), and none are under contract either. Only a handful of condos have sold all summer at foreclosure fire sale prices, 2/1’s conversions in the 100’s, yet there is an abundance of SFH priced in the $400’s.
Here’s a nice place I’d consider living…50×156 lot, an old 1903 updated victorian…..priced at $650k! Purchased in 2005 for $565k! Figuring we’re at 2002 pricing or so, this house should be priced well into the $400’s, well below the near-peak 2005 price, and would sell quickly if it were in the high $300’s. Obviously the seller cannot do that so it languishes on the market for 6 months.
This example is the entire neighborhood….who will win the standoff, buyers or sellers???
Sorry I forgot the link:
http://www.redfin.com/IL/Chicago/4343-N-Tripp-Ave-60641/home/13481773
LOL @ 650k for that place, no wonder you think real estate is so overpriced 8) That place should not be above 400k, end of story!
HD, that house on tripp is almost mayfair!! i used to take my mom on the OIP house walk and it never took us that far to montrose. I love the victorains in OIP and LOVE the wrap around porches they have.
“who will win the standoff, buyers or sellers???” now this all depends on the demographics of OIP, judging by really no foreclosures and this hood not created by the boom/bubble i will say the sellers for the fact they dont “have to” sell but “want to” sell.
“this house should be priced well into the $400’s, well below the near-peak 2005 price”
really? that seems way to low. it looks/says it was gutted and they did keep the original woodwork too 🙂
Sure it was rehabbed in 2007, but still, that just made the home habitable, $200’s not rehabbed, $400’s tops in livable condition. It may sell in the $500’s in the next 12 months if the sellers go below the ’05 price because that’s the best ‘deal’ in the hood.
Groove77, I don’t think any sellers will win. ’05 pricing is ’05 pricing. The rehab just made it habitable. There aren’t enough people who want to live in OIP who make enough money to buy at the current price levels in the ‘hood. SEllers are going to remain stuck and underwater for years and years, and by that time, buyers will have moved on to the next hot neighborhood.
“Purchased in 2005 for $565k! Figuring we’re at 2002 pricing or so, this house should be priced well into the $400’s, well below the near-peak 2005 price, and would sell quickly if it were in the high $300’s. Obviously the seller cannot do that so it languishes on the market for 6 months.”
10% down to start, now has a $510k first and has a $91k face amount 2d (having refi’d a $90k 2d).
It is a full, true double lot, which should be subdividable to a saleable buildable lot. It also actually has two garages.
Too close to Montrose for me, at least through this stretch.
“SEllers are going to remain stuck and underwater for years and years”
just assuming here correct me if i am wrong, i dont think OIP is a huge underwater (or funny loan) type of hood. a lot of long time owners and people who bought in the OIP revival in 1999.
Double lots teardowns south of Irving have sold for around $400k and that was in early 2008 … 50×174!
http://www.redfin.com/IL/Chicago/3842-N-Kedvale-Ave-60641/home/13458662
This owner is underwater and stuck and that defines much of OIP (and Amerika) – There are a handful of foreclosures in the pipeline from failed flippers or just totally underwater homeowners but nothing to crazy. There are a handful of short sales listed but other than that homes mostly languish for months on end. Today’s OIP buyers don’t have the money to pay what ’02-’07 buyers paid. Today they’ll pay in the $300’s whereas previous buyers would pay in the $500’s.
These OIP homes distract me from work way too much, it’s a conspiracy.
Groove, its not hugely underwater but the problem is that people who paid in the $500’s and $600’s cannot sell to today’s buyers in the $500’s and $600’s, and those who can afford in the $500’s and $600’s are looking elsewhere for deals, they’re not looking to pay above 2004 pricing. It’s not so much funny money like option arms and 100% financing, although there is some 3% down, ARM interest only type loans….the main problem is that buyers just completely overpaid between 2002 to 2007. Today’s buyers don’t want to pay that kind of money for a home in OIP …. they may not be underwater, but we all know they cannot sell at their current price levels.
OIP question:
I’m not too familar with this neighborhood but it looks interesting. Can someone give me the boundaries of the ‘desirable’ portion of QIP???
Irving/Pulaski/Addison/Milwaukee is the best part, but OIP goes up to Montrose, and the villa is a little triangle directly east of pulaski which is also very nice.
It’s a nice area because it’s close to the el, metra and highway, nice large homes on large lots, close trip to anywhere you need to go, neighborly, middle to upper middle income, disney ii, street parking. It is to be more affordable, it’s not like trying to buy a house 20 blocks to the east in ravenswood! or anywhere in lakeview, then again, it doesn’t have as many ammenities within walking distance either.
“the main problem is that buyers just completely overpaid between 2002 to 2007”
very true in the whole area. during that time there was a huge influx of cheesy wriglyvile people who grew up and didnt want to flock to the burbs so they over paid in OIP. (around the same time i stopped taking my mom to the house walk thing there).
there are a dozen or so properties there that can command a 800k price easily. (but then the seller will price it a 1.1 mil)
Tom, its a sweet hood, great mature greens!!! great for commuting to the loop via train or to the burbs via car. restaurants and night life…ummm there are a very few but the ones that are there are great. If you have kids save for privte High school. Independece park is nice before 8pm.
This house is attached to the house immediately south at 4200 N. Kedvale. I mean it is literally attached to it. There is a 1-story addition that links the two houses together, with an interior doorway connecting one to the other. This addition would have to be demolished to make this a true single family home. You can see the connection on aerial photos and Streetview.
The house at 4200 N. Kedvale is in horrible condition. I looked at it with an inspector about 1.5 years ago, and it was in bad shape then. I visited in January, and at the time there were several windows open exposing the house to moisture and the weather. The entire electrical, plumbing, and HVAC systems needed replacement. The place is filled with vermiculite. All of the historic features had been removed – in fact, whatever could be taken out had been taken out. Doorknobs were gone from several of the doors. I was told their use to be a great leaded glass window above the stairway landing – this has been replaced with glass block. There was no kitchen, just a room with some decaying cabinets and a giant hole in the wall where something – the stove, a gas line, who knows? – had been.
Needless to say, we did not make an offer on the property. At the time they were asking around $500,000 for it.
Strangely enough, someone had attempted to renovated the basement into an apartment, or a porn studio. It had leopard print fabric covering the walls, a corner bar, a jacuzzi tub in a bathroom with all mirrored walls, and everything was painted black of purple. It also had a “built-in” entertainment center, where someone had cut a hole in the wall and stuck an Ikea cabinet through it. The edges of the hole just-about but not-quite lined up with the cabinet. Classy!
It is a shame – this house was rather nice when it was new. I was told by the inspector that all of the systems were state of the art when installed. The ancient furnace actually had an early form of zoned temperature control, where different rooms could be set to different temps from a central location. It also had the remains of a central vacuum system.
By the way – the church building behind the houses at 4200 and 4202 N. Kedvale is no longer used as a church. It has been converted into two very over-priced and rather silly condo units. We also took a look at those while we were there. They left the belltower intact, and one of the units has access to the rope to ring the bell.
too bad on its poor condition, would make a huge house.
** If you want to talk about ugly fronts this would be the one, at least the other-one was trying to be something.
I wish I had something thoughtful or insightful to say about this property, but the only thing that comes to mind is BLECH!
Finally sells: my Redfin search shows it sold for $130,000! Deal?