North Center Cottage Still Awaits a Buyer 19 Months Later: 1750 W. Grace
We’ve chattered about this 4-bedroom single family home at 1750 W. Grace in the North Center neighborhood of Lakeview many times since 2008.
See our last chatter in June 2009 here.
The 4-bedroom house seems to be a great condo alternative, with its 2-car garage and both front porch and back deck.
It also has central air conditioning.
It is now listed for $20,000 under the 2006 purchase price.
Many of you thought it would sell for around $500,000.
Scott Zelkin at @Properties still has the listing. See the pictures here.
1750 W. Grace: 4 bedrooms, 2 baths, 2400 square feet, 2 car garage
- Sold in May 2006 for $555,000
- Was listed in May 2008 for $669,900
- Reduced several times
- Was listed in November 2008 for $584,900
- Withdrawn
- Re-listed in April 2009 for $575,000
- Reduced
- Was listed in June 2009 for $550,000
- Reduced
- Currently listed for $535,000
- Taxes of $7162
- Central air
- Basement
Bob on June 2nd, 2009 at 1:51 pm
Eric Rojas wrote:
“BOB buddy, you have grossly underestimated the single family home market in this area. $500K is way too low. My personal number I’d buy the home for is much higher.”
Well Eric here we are a year later. None of us will stop you from putting in a bid. Go be a proud owner of the home of your dreams!
ditto
Okay, here is what I don’t get. I’ve been watching 1722 Barry for a while. It is a crappy SFH on a big lot that sold a few months ago for around $700K. Around Labor Day someone came and removed every plant and tree on the property. Since then nothing has happened. I assumed someone was going to tear it down and build something. Is the big lot really worth that much more than this one at 535K, which isn’t selling?
size matters
Im to lazy to post right now so read my old coments here;
http://cribchatter.com/?p=7511#comment-50204
Problem is… when your Aunt Delores comes in to the city from New Holstein, Wisconsin and you realize you both have the same house, you feel a bit silly for paying $450K more than her.
Jon-
Problem is… is when Aunt Delores pays off her house in 30 yrs she gets $100K in her pocket. When I sell after paying off the mortgage, I would(hopefully) get $500K+, move to New Holstein, buy Auntie’s house for cash, and still have $400K leftover. Probably wouldn’t feel too silly then.
Plus Auntie living in Nowheresville, WI means that I wouldn’t be visiting her more than once a decade, if ever.
“Okay, here is what I don’t get. I’ve been watching 1722 Barry for a while. It is a crappy SFH on a big lot that sold a few months ago for around $700K.”
Double lot. Two pins sold. For $689k.
That’s actually pretty cheap, even tho I *really* don’t like the triangle b/t Clybourn/Belmont/Ashland.
Sellers paid $465k in 1997–> only 3.3% annual appreciation. CPI-inflated, that’s $626k. Almost flat, after holding for 12 years.
If this place were on a 50×125 lot, it would have sold for the original ask, or very, very close.
It’s still the same house that you and ole Delores are coming home to each night. Glad you’re thinking 30 years out, because until then it would suck living here.
My point is that these houses are so fugly (white with mint green trim?) and only worth anything because of where they are. That’s all.
Just think, you too could pay over $2800 a month (after throwing down 100k on a down payment to live in a COTTAGE with RENTAL finishes near Belmont/Lincoln/Ashland on purpose!
Oh dear…
Brain Fart, I meant near Lincoln and Addison, for some reason I thought Grace was George… fail!
There has got to be something “wrong” with this place that isn’t readily apparent from the listing.
There has got to be something “wrong” with this place that isn’t readily apparent from the listing.
foundations issues, why else would there be six area rugs down there?
see here: http://cribchatter.com/?p=7511#comment-50204
“There has got to be something “wrong” with this place that isn’t readily apparent from the listing.”
Did you see the picture of the front of the house? So very wrong.
“foundations issues, why else would there be six area rugs down there?”
To cover up all the cat or dog pee stains?
Sort of OT but sort of on track with final comment of the previous thread regarding this property.
“Lone family living in stalled suburban housing project
SPRAWL STALLS | Collapse of project leaves family alone on 1,277 acres ”
http://www.suntimes.com/business/1939812,CST-NWS-home15.article
“foundations issues, why else would there be six area rugs down there?”
c’mon. They wanted something on the (concrete) floor and they were on sale.
On the “whats wrong with it”: it’s right next to a 8-unit apartment building, it’s on a block with 2 other houses (which kills most neighborly interaction), the lot is only 113′ deep (altho assessed for 125–there’s a 12′ *private* alley), the “2400 SF” includes a bunch of basement SF–assessor has it as 1619.
Bahahsha HD, that article is awesome… hysterical! reminds me of my ‘in laws’ out past Oswego… And as far as living in the ass end of the sprawl of the burbs it wouldn’t be bad… it would be like living in the suburbs, with all the nice roads and infrastructure without all the annoying neighbors.
And wow, you get so much more space for the $$$ out in ‘Hampshire’, IL…. 250k for that house? lol what a deal, and only 56 miles from Chicago!
There was an article like that a couple of months ago about a condo development in Florida where this guy and his wife were the only people living in a huge development with like 300 units.
This is why banks don’t like to be the “first in” with new developments.
The far suburbs are dead. Beside being out in the middle of bumblestank, when gas hits $4 a gallon again those people are going to be toast.
This is one of the ugliest houses I’ve ever seen. They need to put on a truck and move it to Rockford so it can be amongst friends.
“The far suburbs are dead”
I am still waiting, (i have one friend in plainfield and another in montgomery) for their taxes to triple when the township need to build another school or but in a library/new library. Seen it happen in mchenry county and in Volo, IL
The far suburbs got a little ridiculous. McMansions everywhere. Middle managers making $70k a year in a $330k home in a soulless subdivision where everyone has a three car garage. I met a hairdresser a few months ago who lived with one other person in a 4,000 sq home in Island Lake or somewhere out there.
“There was an article like that a couple of months ago about a condo development in Florida where this guy and his wife were the only people living in a huge development with like 300 units.”
Dude from Joisey, right?
Why are all of the posts about Lakeview lately? There are so many other neighborhoods! Let’s maintain diversity. For example, we could discuss whether this River North purchase is a great deal . . . http://www.redfin.com/IL/Chicago/215-W-Illinois-St-60654/unit-2A/home/14101389
Totally unrelated, but the IAR disagrees with Gary. From Crain’s RED, “In Brief”:
“according to a forecast from the Illinois Assn. of Realtors. The forecast, prepared by the University of Illinois Regional Economics Applications Laboratory, does not estimate a number of sales. The median sale price for homes in the Chicago area will be $184,900 next year, down 4.4% from an estimated median this year of $193,500, the median this year through October”
http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=36468
Anyone know the school district? Also, how much noise can one expect this close to both train lines?
I dont think the bell attendance goes past damen, so it might be blaine. both of which are good CPS schools.
“Anyone know the school district? Also, how much noise can one expect this close to both train lines?”
Anon will be able to answer both those questions (i have always assumed its his neck of the woods)
“I dont think the bell attendance goes past damen, so it might be blaine. both of which are good CPS schools.”
Bell goes to Lincoln, from Waveland (I’m pretty sure) to IPR.
Thought this was Hamilton–but I’ll check.
Yes. Hamilton. Paulina is the western line for Blaine on Grace. Goes west to Ravenswood on Byron and IPR.
Also right on Bell–East to Lincoln from IPR to Waveland, then South to Waveland from Lincoln to Leavitt, Addison for a block, Cornelia from Bell to Western, back to Addison to the river.
Thx for the link HD. I think the moral of that story is to short Amcore. “I see dead banks.”
“Roscoevillager,
I still like the location for a $500-$525K house that’s in good shape.
There is nothing “major” wrong with this house from what I knew a year ago. It just has never shown well and went on the market way too high. No effort by the owners in my opinion to stage and show this right. Secondly, material finishes are really cheap. Nothing wrong with the basement.
Stairway is tight. It’s got three beds upstairs, but bath is small. The 4th bedroom on the main floor and the rear addition are nice features. Deck and yard are nice for the money.
The building next door is condo (pretty sure) and the train noise is negligent here. You are practically across the street from Trader Joes (without noise or traffice) across from a yoga studio, and located at a nice stretch of Lincoln Avenue bars and restaurants.
My friend was a listing agent at one point, and it just did not show well enough. If painted, cleaned and furnished better, it would sell.
“The far suburbs are dead. Beside being out in the middle of bumblestank, when gas hits $4 a gallon again those people are going to be toast.”
Russ, you might want to do the math on that. You know, the howmuchamonth kind of math that is prevalent in your field.