Mid-Century Modern Lover? This 3 Bedroom Lakeview Townhouse Is For You: 562 W. Stratford
This mid-century modern 3-bedroom townhouse at 562 W. Stratford in Lakeview has been on the market since May 2011.
In that time it has been reduced $36,000.
At 1900 square feet, all 3 bedrooms are on the second floor.
It has radiant heat and space pac air but there is no deeded parking (rental parking only.)
The listing says it has the original 1952 baths and original kitchen cabinets (with some stainless steel appliances.)
Is that a good thing, or a bad thing, in this market?
What will this ultimately sell for?
Gary Zickel at Prudential Rubloff has the listing. See the pictures here.
562 W. Stratford: 3 bedrooms, 2.5 baths, 1900 square feet
- I couldn’t find any prior sales price
- Originally listed in May 2011 for $485,000
- Reduced
- Currently listed at $449,000
- Assessments of $120 a month
- Taxes of $10,215
- Space pac cooling
- Rental parking between $200 and $230 a month
- Bedroom #1: 19×17 (second floor)
- Bedroom #2: 14×10 (second floor)
- Bedroom #3: 11×10 (second floor)
I’ve been waiting for this one to show up on crib chatter! I seriously considered this place, until my wife pointed out that I have absolutely no experience in doing such a big project, she didn’t want to walk next door for parking, and this was a bit north in Lakeview for her. We saw this place right the week it was listed so perhaps some of what I saw is no longer applicable.
1) The place is an estate sale – the woman passed away last year. She worked previously at the Art Institute and the place had a lot of really fascinating art clutter. There was an estate sale last year around the time the place was listed so I assume the place is now clear of clutter. those tribal masks on the fireplace were awesome and she had some massive gothic looking church windows leaning against a wall.
2) The place is at the back of the compound so that kind of makes it easier to get to potential rental parking in the massive building next door – there is a little pathway and wooden door to access the other street.
3) The place needs *a lot* of work. The kitchen is a mess – I can’t quite imagine anyone just moving in and cleaning it up and being happy. The carpeting has holes in many places – I’m sure anyone would want to redo the floors. Perhaps punch some more windows in the back.
4) On the second floor you can see an exposed pipe and gaping holes where the pipe goes into the wall
5) The master bedroom has a very large walk in closet – I think this is a semi-unique feature in this complex since this unit is at the back – the walk in closet needs to be finished, you can see the insulation behind some plexiglass. However, this could be a dream walk in closet.
6) There is a nice tiny amount of space behind this unit – just enough room for a bbq grill and a little table and some chairs – could be very charming. However, there is a massive building looming overhead.
7) The place has a good feel to it and a good flow. It doesn’t seem like there is any wasted square feet and the space is used smartly.
8) The realtor who showed us the unit at the time lived in the unit next door and it was simply stunning and jaw dropping what could be done to the space. His unit was a bit smaller but the place was just beautiful and gave me the idea of a complete regut. I liked everything about his place from the kitchem, the floors, the bathrooms, the paint scheme, the art on the wall, the furniture, etc. This other guy reconfigured the flow a bit on the ground floor, did a little plumbing work and installed a stacked washer/dryer on the second floor, but otherwise the kitchen abd bathrooms remained in their same places. However, the $485K even negotiated downwad at the time seemed crazy based on needing at least $100K-$150K of work and who knows how long of waiting to move in.
9) This could be someone’s mid century modern dream place, at the right price.
Any “mid-century modern” details this place might have sure aren’t borne out in the photos.
One of these is (was) on the market for WAY more. It was totally redone and fantastic! It is the one facing Cornelia with the oversized address numbers.
The Cornelia one was not only rennovated, but had a parking space right in front and if I remember correctly, a little lawn. I didn’t get a chance to tour the place, but the Cornelia one seemed to have a basement and this one does not. I was kind of puzzled why the Cornelia one had a basement but they didn’t bother with basements for the ones off Stratford. Furthermore, the two on Cornelia are separated by the ones off Stratford by a fence so its a decent but not perfect comp. When I looked at sales on the Stratford side, the prices were all over the place possibly reflecting whether or not and when they had been rennovated.
As previously pointed out, really good space and flow. Cosmetic updates of $25-50K could go really far. Taxes are ridiculous. I’d say its priced about right for a $420K sale.
Zillow reports that it sold previously in 2006 for $682,500
These are more like straight 1950’s with some mid-century modern elements tossed in. It’s nice to have the original cabinets but this place has the potential for a gut rehab; and then made it more contemporary or dwell style modern but that’s a lot of money and boku bucks.
CORRECTION NEEDED:
This is on Aldine, not Stratford!
Thanks.
Or if the place is actually on Stratford, you’re using the wrong photo. I lived on this block of Aldine for many years, and this photo is definitely the townhouse group at 540 Aldine.
I’ve never been in this complex, but I have been in the one you accidentally posted the photo of (on Aldine), and the Aldine one seems much nicer inside. Of course, units in that one are more expensive and also a bit larger.
I do like the outside of this Stratford one, and the location is excellent. I just don’t see the mid-century charm inside.
“I lived on this block of Aldine for many years, and this photo is definitely the townhouse group at 540 Aldine.”
Dan #2- I can’t remember now if I WAS on Aldine or actually on Stratford. You may be right that this is the Aldine grouping.
“Zillow reports that it sold previously in 2006 for $682,500.”
As I’ve said many times, the data with Redfin, Zillow and other realtor sites is correct only about 80% or maybe 85% of the time. You should always double check it with the MLS itself (if you have access) or the public record (if you’re in Cook County.) Sure, the county record is sometimes messed up as well. But I would say that only happens about 1% to 3% of the time (mainly due to human error when putting in the dollar amounts.)
The county records on this property did NOT show it selling in 2006.
blech! horrible photos!
and whats so modern about this architecture? looks like a typical townhouse built in 1950
Sabrina,
The property listing is Stratford. You mistakenly posted a photo of the complex on Aldine. I’d love to see you include the 540 Aldine property that’s on the market for everyone to chat about. I used to babysit kids who lived there (in 1986).
Sabrina, I sent you an e-mail regarding a great one-owner $350,000 mid-century modern house in Budlong Woods on Virginia backing on the park that went under contract very quickly. That house has great bones, if current clutter, and would make a hipster happy.
Same complex and seems to have a basement + a lot more square feet and looks like you could move right in…
564 W Stratford Pl Unit A CHICAGO, IL 60657
4 Beds, 2.5 Baths, 2700 Sq. Ft.
1 day on Redfin (1/25?)
MLS#: 07981840 $582,500
562 finally sold for $356K. 564 Straftord Unit A sold for $495K on 5/24. Seems to be enough of a difference to do a serious rennovation and have a little equity compared to 564 A. I wonder if we’ll see 562 back on the market in a few months.
Thanks for the update. Would be interesting to see if it went to a flipper