No Price Change in 4 Months on This 1883 Historic Rowhouse in the Gap: 3309 S. Calumet
We last chattered about this short sale 1883 renovated historic rowhouse at 3309 S. Calumet in the Gap neighborhood on the South Side in March 2010.
See our prior chatter and pictures here.
Many of you were in love with it.
4 months later and the house is still on the market. There has been no change in price.
The Gap is a historic landmark district with vintage rowhomes in the Bronzeville neighborhood.
It has all the bells and whistles, including central air and parking, but it also has many of its historic features still intact, including the woodwork.
For those cold winter nights, there are 6 fireplaces.
Michelle Browne at Prudential Rubloff still has the listing. See more pictures and a virtual tour here.
If that link doesn’t work (having trouble getting onto Pru-Rubloff’s site myself)- try this link.
3309 S. Calumet: 4 bedrooms, 2.5 baths, 3486 square feet, 3-4 car parking
- Sold in November 2003 for $330,000
- Originally listed in September 2009
- Listed in January 2010 for $485,000
- Lis pendens filed in January 2010
- Reduced
- Was listed as a “short sale” in March 2010 for $425,000
- Currently still listed as a “short sale” for $425,000
- Taxes of $3542
- Central Air
- Bedroom #1: 20×12 (second level)
- Bedroom #2: 11×10 (second level)
- Bedroom #3: 11×11 (second level)
- Bedroom #4: 11×15 (lower level)
- Second kitchen: 7×15 (lower level)
They really are valuing the land at about $0, aren’t they? Maybe even giving the land a negative value.
well since you have to pay taxes even on land every year, I can see why it would be valued near zero or even negative
The problem with a grand historic house at this price point is that a large majority of buyers at this price point are completely scared (needlessly) of anything south of Roosevelt.
Lots of people wouldnt even concider, or even know that there are beautiful homes in nice neighborhoods on the south side.
Of course, the main problem is that these nice neighborhoods are very near and in some case completely enlcosed by some of the worst neighborhoods in the city.
Wonder how much it would cost to rent a Mil Mi-26 to airdrop this thing to the Northside.
Also, I wonder if those suits of armor are there for protection purposes 🙂
Barry. It’s a rowhouse, so you’d be taking along all of your along neighbors too.
“Barry. It’s a rowhouse, so you’d be taking along all of your along neighbors too.”
LOL they probably wouldn’t mind!
“Barry. It’s a rowhouse, so you’d be taking along all of your along neighbors too.”
Nothing a chainsaw and a bit of effort couldn’t fix!
When I think of Bronzeville, I think of shootings. Am I incorrect in my thinking? I feel fairly safe at my townhouse near Halstead and Roosevelt.
This house is gorgeous and puts my house to shame.
Bronzeville has a ton of black professionals (attorneys, bankers, consultants, etc) who are the primary target market for these properties. Given the bubble and difficulty of financing, that target market has shrunk dramatically like the overall market.
The area has some nice streets and homes, etc but the surrounding hoods are not great. Most CC readers probably couldn’t distinguish between a good street in this area and a really bad street in the hood as the frame of references are out of wack.
I highly recommend taking a drive down MLK Blvd. to see some beautiful old homes. In fact there are many great walking tours in the area (Hyde Park, Kenwood, Bronzeville).
Many great places to visit on the South Side. But that does not equal great places to buy real estate.
I love Hyde Park and would consider living there except that I want to be closer to my job in the Loop.
For the second time this week (see earlier Uptown listing) we have a gorgeous, incredibly reno’d historic home around the $400K mark but in a ‘hood that many CC readers would not live in. Given all the schlock between Uptown and Roosevelt, I am now leaning toward these alternative areas and forgetting about all the schlock in the middle that I’ve been looking at for months.
“I am now leaning toward these alternative areas and forgetting about all the schlock in the middle that I’ve been looking at for months.”
I’d pick Uptown over the Gap, but this house over the uptown one. But I’d consider living in the Gap if (a) no kids, and (b) regularly driving to MI (lake house or whatever).
anon you should change your name to ‘decisiontree’
Just to let you guys know we are still waiting for this place to into foreclosure. we are hoping that after that the price would drop to 325k-350k and that it will stay in the same shape after the foreclosure.
a few weeks after it was posted we took a drive over there, and wifey looked into it the owner is a interior designer (thats why i looks so sweet) we were going to schedule a showing just to see if it was worth the wait. but then we came across the deal on our apartment and put this idea/place on hold.
there is no way i would pay higher than 315k for it because its on a major street and its surrounding areas.
“Most CC readers probably couldn’t distinguish between a good street in this area and a really bad street in the hood as the frame of references are out of wack”
That’s a nice way of putting it.
To all posters on this home.
This was my home for 7 years I spent 1000s of hours renovating it. Thanks for the positive responses!!!!!!
There are no catches to this house.. I was an Interior Designer in chicago working for a single billionaire for most of the last decade. Unfortunately when the real estate market fell-apart so did my clients business, leaving me with hundreds of thousands of unpaid debts by my client.
Fortunately for me I had a second business in asia manufacturing furniture.
I now reside in asia and have no plans on returning to the states…
However, I will always miss this home and its amazing neighbors…. I will miss the holiday party’s that sometimes included local celebrities… It was a great place to call home….
As for the negative comments claiming this to be a “bad neighborhood” they are sadly false and ignorant. I parked TWO MERCEDES BENZs on the street without EVER having a problem, nor did i ever have a break-in or even an attempted break-in. (I can’t say that to be true of when I lived in Lakeview)
Also, you failed to mention the Starbucks right down the street, or the skate park at 31st beach, or that the house is 5 minutes for the loop, or 4 minutes from Whole Foods/ Target, or lakeshore drive, or walking distance to the lake, etc, etc……
Furthermore, the school across the street is Chicago’s first academy of art and not some grubby inner-city school and also, as for the house backing up onto KING Dr. that was a real plus. Because of this I was allowed to enjoy the chicago marathon and the change of colors from the boulevards tree lined medium… If you all think that it is better for your house to backup onto a rat filled alley then don’t look at this one!!!!!
Furthermore, just to let you all know, I am caucasian, as was my partner and we only received the warmest of welcomes into this little neighborhood.
I glad that Groove77 has such an educated quote for this house’s value.. $315,000 WTF????? I paid 330,000.00 in 2003 and invested over 225,000.00 into the house. The appraisal in 2009 from Northern Trust Bank was 875,000. furthermore, the house at 3305 sold for 475,000.00 in 2007 then received a 400,000 renovation, and 3311 sold for 575,000.00 around that same time.
I surely hope you don’t have an interest in becoming a real estate appraiser, the markets are bad enough!!!
To whomever gets this house enjoy it was a great place to live….
Jimyjames:
You bought a home in 2003 for $330,000 with 2 mortgage totaling $20,000 more than the purchase price. Then a few years later you again refinanced an borrowed another $100,000 against the property. On top of that you admitted that you in a household with not one but two Mercedes Benz. Then five or six years later you skip out on nearly half a million dollars in mortgage debt and move to Asia. You let your house go into foreclosure after years of not paying the mortgage. You say it’s because your client “[left you] with hundreds of thousands of unpaid debts… ”
I find it difficult to believe that your billionaire client stiff you out of unpaid bills. You are obviously not a billionaire and you stiffed your creditors out of nearly half a million in unpaid bills. You lived the lie. You borrowed into a lifestyle you could barely afford and then house of cards came crashing down so you moved to Asia (Allegedly) and stiffed your creditors.
I failed to mention that there is one ass on the block!
good call on this one HD.
Nailed it hd. These sob stories, similar to the one in the tribune about people taking out mortgages against their house so that they can live it up are shameful. I hope the bank hurries up and just forecloses on it so that someone who will actually pay the mortgage and enjoy the house and hood can move in. This is a great example of not taking personal responsibility for ones actions.