North Center Mansion Returns and Is Now Bank Owned: 2216 W. Grace
We last chattered about this 5-bedroom rehab mansion at 2216 W. Grace in North Center in February 2011.
See our prior chatter here.
This house was the subject of much chatter due to its extreme size for the neighborhood (at 8,000 square feet) and that it used to be a 6-flat apartment building.
Back then it was listed for $2.995 million.
It is now bank owned and the price has been reduced $880,000 to $2.115 million.
Back in February it had 4 bedrooms but now it has 5. The house still has 9 baths and 3 half baths on a 125×30 lot however. There is a 2.5 car garage and a rooftop terrace with a hot tub. To get around all those levels easily you can take the custom staircase or the elevator.
Yes, it is in the Bell School District.
There is also a custom kitchen with white cabinets, stainless steel appliances including a SubZero refrigerator, and what looks to be marble counter tops. In addition to the 5 bedrooms, there is a “custom design allowance” to finish the exercise room, library, and a media room.
Is this house now realistically priced?
Jeff Lowe at Prudential Rubloff now has the listing. See the pictures here.
2216 W. Grace: 5 bedrooms, 9 baths, 3 half baths, 2.5 car garage, 8000 square feet
- Sold as a multi-unit building in January 1999 for $550,000
- Sold as a multi-unit building in May 2007 for $1.02 million
- Was listed in February 2011 for $2.995 million
- Bank owned
- Currently listed for $2.115 million
- Taxes of $14,717
- Central Air
- Elevator
- 3 fireplaces
- Rooftop terrace with hot tub and kitchen
- Bedroom #1: 22×15 (fourth floor)
- Bedroom #2: 22×13 (third floor)
- Bedroom #3: 15×11 (third floor)
- Bedroom #4: 15×13 (third floor)
- Kitchen: 29×15 (second floor)
- Living room: 22×17 (second floor)
- Second kitchen: 8×5
- Office: 17×15 (fourth floor)
- Sitting room: 14×11 (fourth floor)
- Exercise room: 19×9 (main floor)
- Theater room: 25×11 (main floor)
- Maid’s room: 9×7 (main floor)
Sure, it’s in the vaunted Bell district, but at what price point does public school attendance area become secondary, if that? In other words, at what price point are buyers determined to send all the kids to private school, with public schools being a last resort?
The folks buying the $800k-$1.2 million places, sure. But I just don’t see many families who are looking to spend over $2 million on a lavish home jumping up and down about Bell/Burley/Blaine or Lincoln (or Ogden).
Wow, the price has gone down and the number of bedrooms has increased. Maybe a buyer could set up cots throughout the place and rent to all the families who want to get into Bell and make out like a bandit.
What a ridiculous structure next to the mccrapbox next door. Or maybe the other way around?
What a horror. It has no business being in this neighborhood. Tear it down and start again. A traditional six-flat, which it replaced, would make a lot more sense. Or three decent-sized single family homes.
I am always impressed by Jeff Lowe’s magic, but it will be a tall order to turn this one into something that someone will want without holding their nose quite a bit. I guess that around $1.7 million gets it done, and I think that’s really spending $2 million with the extra $300,000 going to create another bedroom and take out a bathroom or four. I’m really flabbergasted that someone thought that it made sense to put 12 full and partial baths in a 8,000 sqft property with 4 or 5 bedrooms, especially when you consider it’s still on a only marginally larger than standard lot and the square footage is down to just being tall, lot-line to lot-line and the zoning benefits of having “rehabbed” the 6 flat.
I do like the staircase
“In other words, at what price point are buyers determined to send all the kids to private school, with public schools being a last resort?
The folks buying the $800k-$1.2 million places, sure. But I just don’t see many families who are looking to spend over $2 million on a lavish home jumping up and down about Bell/Burley/Blaine or Lincoln (or Ogden).”
Stuff has sold in the mid $1.Xs around there. Over $2MM does seem a lot. I think partly it’s just difficult to get up that high in cost, even setting aside if anyone want to buy it. Cost for a 30 foot lot is maybe $500K+. You’ve got to spend $300/sqft+ on a 4500 sqft+ place (dunno what’s the max allowed allowed exactly) to get close to $2MM. I’m sure you spend that much but it’s going to look/feel out of place in the neighborhood.
Speaking of which, I guess a $1MM 6 flat plus a buncho money will get you over $2MM easily. Maybe needs someone that is already in Bell, doesn’t want to leave, has a lot of money, and who likes this place. Perhaps ufo is busy negotiating for this place.
Bell is one of the best elementary schools in the state. I don’t get your point.
This is truly an abomination. This one property seems to be a shining example of all the worst elements of the mid 2000’s boom. The developer should be publicly humiliated. Man do I wish we somebody would have just renovated the original 6 flat.
The point is, is that rich people don’t want their kids going to public school because that isn’t exactly a housewife bragging item
“Bell is one of the best elementary schools in the state. I don’t get your point.”
Not sure if you were responding to me. My point is that it takes something *really* lavish to get to $2MM given land costs, which among other things is going to look/feel out of place in the neighborhood. How many $2MM SFHs are there in Bell (BPL, WOBPL, or otherwise)?
Vlajos, in addition to Sonies’s valid point about how (some) wealthy folks like to brag about their kids’ exclusive and expensive private school, there is the simple fact of the high school situation. If your kids can get into one of the (four?) pre-K-12 prviate schools in the city, and you can afford it (which I presume the buyer of a $2 million house can), it should be a no brainer.
Hey, Question’s, looks like your place from the prior post (1722 W Barry) actually sold for $2.265 earlier this year. 6/6 on a double lot though.
I’m thinking JJJ is in the right territory, price-wise, for this (wonder what they could’ve gotten, if it actually had more than a standard lot).
Maybe they’ll make up the $400k difference with the “design allowance”?
In the meantime, I’ll spend my day wondering if they they hit six figures building out that staircase. . .
Bell is. One of the better schools in the state but not one of the best. One of the best in chicago but not the best.
This place is a joke. The problem is whoever buys it is going to be known to all the neighbors as the owner of the big hideous place. Won’t do much for raising status in the social circle. Needs a buyer who doesn’t care what others think about them. Maybe a Russian billionaire or something.
Sabrina, how does the “Like this comment” work? It does not seem to be activated.
Whats the high school for this area after bell elementary?
right…
people buying 2mm houses don’t give a crap
Bell is #29 in the state in the Sun Times rankings. Not selective enrollment either. Send them to private HS for 4 years after if they don’t get into one of the top CPS HS. Very simple really.
I know millionaires who send there kids to public schools. You people are fucking idiots.
As a man, I would buy this house just for the stand-up urinal.
If the Duggars were rich and they all had IBS this place would make sense. 9 bathrooms? Lmfao
The place is a monstrosity.
This needs to be converted into apt building.
the point is somebody who wants a 2million dollar mansion doesnt care about the public school because the cost of private is pocket lint to them. they’d rather have their castle in a ritzy part of town with a mediocre public school than north center with bell.
“Bell is #29 in the state in the Sun Times rankings. Not selective enrollment either.”
It’s partially selective enrollment.
“I know millionaires who send there kids to public schools.”
Do you think the public elementary is as important to buyers of $2MM+ houses as it is to buyers of $1MM- houses?
I also think it’s hard to get up to $2MM for a house in Bell, given land prices. I have no doubt that plenty of people who are in or would value being in Bell can afford $2MM places. But will they want to buy the SFH that costs $1.5MM to build, even if it were not this crazy place?
“9 bathrooms?”
I still want to know what those full baths are for, if anyone has been in this place.
“I know millionaires who send there kids to public schools. You people are fucking idiots.”
Even those who didn’t comment on the school? How about those who are confused by there/their?
I apologize for my spelling error.
I do agree this place sucks. Doesn’t change the fact that this is a great area with a top school. If you live in the area, you get in.
“Doesn’t change the fact that this is a great area with a top school.”
Did anyone say anything to the contrary?
“If you live in the area, you get in.”
I think people here understand that.
There are posts claiming that rich people only send their kids to private school, which is moronic.
This home won’t sell because it’s gross, not because rich people won’t pay $2MM to live in the area.
I would have expected the finishes to be stripped and in a crate on the way to Poland by now.
Even funnier is to check out the Google Street view of this place.
WTF were they thinking? Its not the gold coast and the lot is only a 30′
“This home won’t sell because it’s gross, not because rich people won’t pay $2MM to live in the area.”
How many $2MM places do you think there are in Bell?
“I think people here understand that.”
We also understand who the fucking idiot is. Vlakas.
I have no idea.
And you’re a jackass.
“I have no idea.”
Then what was the basis for this statement, Vlakas?
“not because rich people won’t pay $2MM to live in the area.”
Why would a bank approve this project? I mean seriously don’t you need a business plan for something like this?
It’s a silly house. In Bell or anywhere else. It’s just silly.
See if Trump is interested, it’s about his speed.
“Is this house now realistically priced?”
I doubt it, but I am the least bit knowledgable about the price of such a unique place in this neighborhood. I’d guess closer to the $1.7 price stated.
Is this house horridly ugly?
No doubt about it. I could see someone liking the interior and all the bathrooms and space, but I just could not imagine paying $1.7 or more and having to look at it when you drove up to your home.
I think the builder spared no expense. The whole building was clad in limestone for starters. It took them 2 or 3 years to rehab. What was their plan? I have no idea.
Bell school consists of neighborhood, gifted and deaf programs. Many of the deaf students appear to have multiple handicaps so some of their tests scores may be low if they are tested. It’s a greats hoolig
School with lots of afterschool activities and parental involvement .
I still don’t think this place is ugly. What is so bad about it? It actually looks like it was made from quality material.
It may be quality material but there is just WAY too much of it. In Clio’s neighborhood on a massive lot this may not be so hideous but on a standard city lot in this area right on the street it is awful I think. Reminds me of that castle by Clio. Just way too overdone.
“I still don’t think this place is ugly. What is so bad about it? It actually looks like it was made from quality material.”
Standing alone, don’t hate it (don’t love it either). It’s *really* crazy for the neighborhood though.
The problem here is not whether you like the house or if it is too big, it is that it is in the wrong location to sell at this price. Nothing that I’m aware of has traded in this price range in the neighborhood. I think if this were on a double or triple lot it may have a chance at trading above 2M, but there is -0- yard and people buy in this neighborhood to have some outdoor space (green and on the ground). Maybe Jeff can pull something out of his @#s because the PPSF id low, but I doubt it.
Does anyone know what’s going on with the Castle on the Kennedy? That place has this one beat for out of place eyesore.
http://www.chicagorealestatedaily.com/article/20100714/CRED03/200038862/lenders-storm-king-rudy-castle
I personally wouldn’t mind living here. It’s perfect for a successful professional or businessperson who doesn’t want to leave the neighborhood. Just because you actually have money doesn’t mean you necessarily want to leave your roots or live around a bunch of douche bags who either also have money or do a good job of pretending. Wouldn’t be surprised if a Groupon employee took this place for $1.8.
Sabrina,
The “like this comment” doesn’t seem to work, and I find it very distracting to see at the end of every comment, especially with the green symbol. I’d recommend removing this function.
“Just because you actually have money doesn’t mean you necessarily want to leave your roots or live around a bunch of douche bags who either also have money or do a good job of pretending.”
Have you been around the Bell attendance area of North Center lately? You certainly wouldn’t be the only douche bag with money or pretending. But, if you are from there, you might be the only one with roots in the hood.
I don’t know how many Groupon millionaires still need a $1.8M+ house or condo, but there are 313 others along with this one currently listed in Chicago.
“Have you been around the Bell attendance area of North Center lately? You certainly wouldn’t be the only douche bag with money or pretending. But, if you are from there, you might be the only one with roots in the hood.”
I’m in the area frequently. I was actually envisioning a person who was living the area, perhaps in a rental, before his website or company took off, not necessarily having grown up there.
In other words, “roots in the hood” has a similar use as “I’m from Chicago”.
I must have missed the 9 bath thing last time around. Has anyone been in this or seen a floor plan (not seeing one on the realtor’s site. I just can’t wrap my head around that. Where do you put 9 full baths with 4/5 bedrooms? I can (sorta) see 2 in a master suite, his and hers. Maybe one by the gym so you could invite friends over to workout (or a trainer?). I’m stretching and that’s still at least 2 short of what it has.
If only D rose was from north center, maybe this place would sell under brads scenario
The point on all the bathrooms is that it seems the developer just put bathrooms wherever the existing plumbing stacks were in the 6 flat, instead of thinking about whether it made sense to put 12 bathrooms in this property. It’s suggestive of lots of other poorly thought out approaches as well.
Personally, I think JJJ hit it on the head. However, if you want to hear it from the developer himself,
http://www.youtube.com/watch?v=ucOBG_0UCD8
Find an entrepreneur with deep pockets, get a zoning variance, and make it an upscale bed-and-breakfast for out-of-towners who will be coming here for various winter festivities, then for the 2012 World Championship Cubs season which will of course stretch into next October, then the cycle begins again… Piece of cake!
And of course it can also be used for lodging for all those foreign folks coming to the Olympics…oops…
“The “like this comment” doesn’t seem to work, and I find it very distracting to see at the end of every comment, especially with the green symbol. I’d recommend removing this function.”
I’m working on fixing it. My 10 person tech staff is having a hard time figuring out why it’s not functioning.
🙂
Did the “like this comment” function ever work? Tell you 10 person team that the problem is with this:
onclick=”javascript:ckratingKarma(‘201723’, ‘add’, ‘cribchatter.com/wp-content/plugins/comment-rating/’, ‘3_14_’);”
I suspect it’s looking for a different input variable on the onclick event instead of what it is receiving.
No- it hasn’t worked. That’s what I’m working on!
But thank you for the input. Everyone’s comments have been helpful. No one is complaining about anything else so it seems people are used to the new site already.
Icarus: so you are a coder, I knew it.
Being from the bell neighborhood: 12 years ago I brieflly dated a girl who grew up in the bell attenndance area and let’s just say her chicago accent was extremely thick, her parent were laborers who inherited the house from her grandparents, she she never attended college,a dn she referred to all the new buyers in the neighborhood as ‘fucking yuppies’ and she probably said that 5 or 10 times a day. Doubtful she’ll ever move back. Iirc her parents sold thir two flat to some fucking yuppies for a shitload of cash (cue Deb Morgan from Dexter except with a *really really* thick chicago axcent.
Personally, I get used to changes pretty quickly. I personally like threading, but this is fine too.
But I have to say I am torn on the thumbs up thingy. Kind of a popularity contest. I remember when Marketwatch (lots of biased reporting, worth reading only for the comments, imo) used to have thumbs down along with thumbs up. I guess they had some problems with vendettas, so they removed the thumbs down, but it was very useful for dealing with trolls. Seems to me if a comment had enough thumbs down, it was removed.
hd, bet she was a firecracker in bed though.
“Standing alone, don’t hate it (don’t love it either). It’s *really* crazy for the neighborhood though.”
only *really* (really) crazy for the particular location within the ‘hood. Only place within Bell, and not on IPR or Western which would makr *less* sense is directly across from the fire station.
welcome back anon. we missed you!
The developer seems sympathetic enough and I expect that the quality is pretty nice, although you would really have to diligently investigate the quality of a project like this. I just think that the portion of folks out there looking for that kind of house in that kind of neighborhood is going to be pretty limited. Maybe it makes sense if you have a ton of kids and want them to go to a good public school, in Chicago.
I quite like the site redesign with threading dropped, but I would drop liking comments as well. Any system of karma on a blog just serves the blog devolving into being about that system.
“Only place within Bell, and not on IPR or Western which would makr *less* sense is directly across from the fire station.”
Why? B/c it’s a relatively high traffic and not particularly attractive corner? One of the claremont corners across from bell elem, or something around st ben’s, wouldn’t be worse?
Are you bringing groove and ze back with you?
“hd, bet she was a firecracker in bed though.”
I’m sure that’s going to go over well with Mrs HD.
“Why? B/c it’s a relatively high traffic and not particularly attractive corner? One of the claremont corners across from bell elem, or something around st ben’s, wouldn’t be worse?”
Yeah, maybe Claremont + Grace would be worse (with proximity to Western/7-11/etc), Leavitt + Grace maybe, too (with the bar across the street). Waveland and Byron would have a one way in front, at least.
Ironically I was cutting east down Grace today and saw it from almost 1/2 block away. It really stands out from the rest of the homes on that block. The lights were ALL on so there must have been a showing tonight. The weird thing is that the east end of the structure is still all torn up. Looks like an old garage wall still standing. Very odd considering the pricing. What gives?
“The weird thing is that the east end of the structure is still all torn up. Looks like an old garage wall still standing. Very odd considering the pricing. What gives?”
New garage not completed; Old garage was a frame shack. Work ceased last Nov/Dec, building materials sat out front for ~6 months. Dont understand the bank not advancing enough to finish the garage structure, as it has to be done to sell the damn place ever, and it shows like shi… unlike some unfinished interior space one might get away with.
I’ve heard this may be under contract.
anon (tfo)- It IS under contract. Wow. Can’t wait to see what this sells for.
” It IS under contract”
Before the furniture even arrived I would have a couple of hotel grade heaters installed above the front door and an awning that ran to the sidewalk. Something nice, like you would see in front of a ritzy building in Manhattan. I’d definitely give the house a name and have it imprinted on the side of the awning next to the address. Maybe I’d pretend it was an embassy. Make up the name of a country, throw up a plaque, maybe even create a web page for the country. I’d probably want to keep a pony on the side patio, as well.
As noted by Dahlia in the other thread for this place, closed for $1.435m.
Yeah but only 160k/bathroom.
I’d befriend the alderman & zoning board people and convert this to a mini-hotel.
Closed at 1.435M
“Lunker (April 11, 2012, 1:41 pm)
Closed at 1.435M”
Only 18 days late, Lunker.
Per Jeff Lowe, via Rodkin, $500k needed to “finish” the place.