Own This 3-Bedroom Full Floor Vintage Beauty: 707 W. Junior Terrace in Buena Park
This 3-bedroom at 707 W. Junior Terrace in the Buena Park neighborhood of Uptown just came on the market.
It is a short sale and listed $90,000 under the 2006 purchase price.
The midrise building was built in 1927 and has 14 units.
Like many vintage buildings of this era, the unit has big room sizes and includes a full sized dining room and family room.
It has arched ceilings in the foyer, crown molding and a fireplace.
The kitchen has stainless steel appliances and stone counter tops.
There is space pac cooling and an in-unit washer dryer.
It looks like the parking is available for rent (not sure if this is just in the neighborhood or in the building.)
Is this a deal for the square footage?
Greg Desmond at Prudential Rubloff has the listing. See more pictures here.
Unit #5: 3 bedrooms, 2.5 baths, no square footage listed (but somewhere around 3000 based on other units in the building)
- Sold in March 1996 for $168,000
- Sold in February 2000 for $308,000
- Sold in May 2004 for $665,000
- Sold in July 2006 for $690,000
- Originally listed in February 2009 for $839,000
- Withdrawn from the market in January 2010
- Currently listed as a “short sale” at $600,000
- Assessments of $1183 a month (includes heat, gas)
- Taxes of $4512
- Space pac cooling
- In-unit washer/dryer
- Rental parking
- Bedroom #1: 17×12
- Bedroom #2: 16×11
- Bedroom #3: 11×8
- Family room: 19×15
- Living room: 19×15
- Dining room: 17×12
- Kitchen: 25×12
First…!
Loving this place…..!
Nice.
Another full floor unit in the same building (#9, so higher floor?) is listed at $750k.
Also updated, and pretty.
http://www.redfin.com/IL/Chicago/707-W-Junior-Ter-60613/unit-9/home/13396570
What’s the line in that Springsteen song? Something like “it’s going down, down, down, down, it’s going down, down, down…
This place is really nice but has a way to go before finding that special buyer. My guess is low low 500’s would be a good day!
For about $1,000 less in assessments and garage parking included (and an extra bathroom), I think I’d take a townhouse across the street for a bit more. Especially since you don’t know that the short sale will take $600 and I am sure you can get this place for less than ask…
http://www.rubloff.com/property/chicago/07840065.cfm
The 750k unit will be lucky to break 650k. prices are around 2002 levels right????
I ususally hate vintage, but this is very well done
i doubt it sells at the short sale price, probably ~675k
Mar-96 price + cpi + $100 psf for reno = $560k. That is the max price at which it is a “deal”.
Nice looking place. Any special assessments coming up on the building? I’ll refrain from commenting on the yellow deer head over the master bed.
This unit looks overly staged. What’s with the deer head over the bed?
I would also take townhouse across the street that Jon pointed out.
Lovely unit! A little close to the Montrose/Broadway shooting gallery for my taste.
I hope Uptown turns around. So much potential…
I like the John Deere
Anon, Might this reno cost a bit more than 100 a sqft?
Jon,
Good call. I would prefer that townhouse as well!
Assesments are a little high but taxes are pretty reasonable and the unit looks livable. Nice place in a pretty nice location.
@TB, The shootings happen more at Wilson and Broadway, when shootings do occur. Okay, Sunnyside and Hazel has occasional gunfire. This unit is more than far enough from either intersection. East of Hazel, and South of Montrose is a different world from of the immediate area to the north.
this unit is beautiful and for once we see some nice furnishings (except the deer which I hope is securely attached…lol). No idea about the hood. Is it unsafe or something? I wish I could find something like this in SL with say MPE’s views! (I know I know, but a gal can dream)
I love dark floors but I bet it requires daily cleaning if people walk around with their out door shoes.
“the unit looks livable”
Just livable? Were do you reside, Versailles?
Jp3chicago on July 12th, 2011 at 10:20 am
The 750k unit will be lucky to break 650k. prices are around 2002 levels right????
Yes, but you must factor in the renovation which was post-2002 on both of these units.
2002 price + reno ($100-150 per sq foot)
“this unit is beautiful and for once we see some nice furnishings (except the deer which I hope is securely attached…lol). No idea about the hood. Is it unsafe or something? I wish I could find something like this in SL with say MPE’s views! (I know I know, but a gal can dream)
I love dark floors but I bet it requires daily cleaning if people walk around with their out door shoes.”
The unit is nice and i certainly wouldn’t call Buena Park unsafe by any stretch. It’s relatively close to some of the unsavory elements in Uptown (and priced to reflect as much) but I’ve always found the bark from the area’s negative repuation to be much worse than the bite.
Prior sale of eighth floor unit, apparently w/parking and needing rehab, at $330K.
http://www.redfin.com/IL/Chicago/707-W-Junior-Ter-60613/unit-8/home/13395699
interesting DZ. i guess 200k renovation would have done the job, so is it safe to say this place should sell around 600K (including reasonable profit for actually doing the work)? or you guys think the reno cost more?
there is also a pretty nice 2/2:
http://www.redfin.com/IL/Chicago/707-W-Junior-Ter-60613/unit-6N/home/13396401
“Anon, Might this reno cost a bit more than 100 a sqft?”
Sure, it might, but several of the rooms *should have* been relatively cheap–plaster and trim repair, new floor, paint–and the work was done 7+ years ago, so a W&T deduction or some percentage.
And “deal” price is generally lower than FMV, imo.
Ooooh this place is gorgeous! I wasn’t expecting it to be so much, given the area (nice immediate area but not walkable to much retail) and schools, but really for the sq. footage it’s priced alright I guess. What kills it is the high assesment. Staged wonderfully though. Oh, is there any outdoor space?
No way I’d take the place across the street!
i prefer this to the town home too TS. Any news on the little one?
Less than a month away! How about you? Thank god the humidity is gone for now… that’s brutal when your 9 months pregnant! Haha:)
sleep as much as you can TS. Believe me I have been a zombie since the baby arrived. It is the hardest thing I have ever done especially if you decide to breast feed. I think I will stop drinking milk, I just feel bad for cows…lol
one good thing about summer babies is that you don’t have to constantly worry about wrapping them up when you go out. It makes your life easier.
Yes, but you must factor in the renovation which was post-2002 on both of these units.
2002 price + reno ($100-150 per sq foot
No actually you don’t have to factor in reno costs. At least not in this market for a property that is on the fringe of the true gentrified and safe green zone. I really like the unit and those updates. They clearly spent the money to make them look great however the market is not going to reward them at 100% return + profit for that reno. The real issue is that this was a $168K place in 1996 that could not have possibly apreciated to 665K or 690K in 8 years. That was where the pricing was bubbled. Factor in the real true value at year 2002. I’ll be generous and say that it was 10% over the 308K price in 2000. That means that the cost of this shell was 338K add in around 160K for reno ($50 psf) and you have my $500K conclusion. It is just not worth $600K. They may find a sucker to take it around $600K or higher but that will not end well for the buyer.
I agree this place over the townhomes, but I’d prefer #9 although it seems overpriced. Give me #9 around this price and I would be happy!
I think miu’s 2 bedroom is definitely overpriced and in need of some redecorating.
It does seem like a wonderful building though, although the assessments would kill me…even if they are reasonable.
T.S. have that kid before Sept 1st or you will have the baby for an additional year before he/she starts school. Our kid was born on Labor Day meaning that she will start school in IL and turn 6 in the first week of the school year. Had she been born a few days earlier she would have been the youngest kid in the class.
I’ll take the delay in stride!
“That means that the cost of this shell was 338K add in around 160K for reno ($50 psf) and you have my $500K conclusion. It is just not worth $600K.”
If the shell is worth that much, wouldn’t there be people willing to pay for a (well done and to their tastes) rehab?
“If the shell is worth that much,”
I know you know and that you implied it, but that’s at least 20% too high.
“T.S. have that kid before Sept 1st or you will have the baby for an additional year before he/she starts school.
…
I’ll take the delay in stride!”
But, jp, redshirting is en vogue, esp for boys. Are you sure it will be passe in 6 years?
It’s much better to be the oldest in the class than the oldest. That said, I don’t agree with redshirting, and I’m not sure it’s even allowed in Chicago/IL.
I meant better to be the oldest than the youngest! Doh!
“That said, I don’t agree with redshirting, and I’m not sure it’s even allowed in Chicago”
It’s not. Just a comment about the “better to have the kid before 9/1”.
You *can* get your 9/1 (or 9/30) b-day kid into CPS by doing two years pre-k + K in private schools before they turn 6. But, no test-in schools and no CPS kindergarten.
I don’t know… the kid would be nearly 19 by the time he or she graduates from high school. It would be frustrating to be legally an adult, but still need permission slips for everything. Those last few months of high school were torture.
My understanding is that redshirting is actually a practice in sports where the student still attends classes but elects to not play in sports that year in hopes that they will not burn a year of eligibility during a season where there is very little chance of actual playing time.
This is sometimes used for rehabbing an injury (think ACL) or if there is an excellent player already starting in that position that will graduate the following year.
Redshirting a kids kindergarten start date may not be against the law but it makes no real sense unless that individual child is physically really small or emotionally/mentally not developed enough for school at age 5.
“Redshirting a kids kindergarten start date may not be against the law but it makes no real sense unless that individual child is physically really small or emotionally/mentally not developed enough for school at age 5.”
There have been articles about it for at least teh last decade. Here’s one from last summer:
http://www.nytimes.com/2010/08/22/fashion/22Cultural.html
the kid will be bigger than everyone, probably a better athlete, have access to high school girls longer… What’s the problem?
The kid will also most likely be bored out of his mind. School is already boring enough.
yes you and I both with our hypothetical kids… Roflmao… I would send my hypothetical kid to U of A or Ariz St, just to have fun.
Well for me to visit too!!
Love this place. It’s absolutely perfect. Huge, beautiful place in perfect condition, beautifully maintained, with incredible architecture and nice millwork througout.
Even the assessment, which includes heat, is very reasonable for a unit this size.
I’m not sure about the price. It’s really not in Lakeview. I’d say more like $500K.
Haha, I love that this has turned into a discussion about my future son:) He will most definitely be here by September, probably in about 3 or 4 weeks. I have a 2 year old too, so I know what you mean about the sleeping! I feel like I’m just getting used to sleeping all night just to start all over again…
Miu when did you have yours? Congrats!
Oh, my bday is Sept. 2! So I was always the youngest, it wasn’t so bad, until all my friends turned 21 and I had a looooong summer to wait to join them!
what happened to wanting to be…*tilt the head back and pause*
doogie howser?
esp. since some people seem to think that an Ivy League life is different
Parking – check (maybe)
a/c – check (spacepac)
CTA – Check – smack dab between two stops (admit some would be terrified at Wilson)
ba minh sandwiches and pho – SOLD
Very nice; love the FP and French Doors. Looks like the 3rd Bedroom is really a maid’s room/den, though. Private floor is a huge bonus.
There are rentals like this, though. To me, it’s always a safer bet to rent vintage first before committing to buy. At least the assessments aren’t astronomical like some vintage of this size, but you never know when a special will loom.
TS a little over a month ago. When did your two year old started sleeping through the night (I’s be grateful for 6 hours nothing too fancy )?
At least you know what you’re getting yourself into : )
Oh girl, you don’t even want to know! He was 1.5! But that was sleeping 100% through the night, like 12 hours straight. Before that he would only wake up once or twice, to nurse then right back down. In the beginning it was VERY rough though, like up every couple hours, but he was a notoriously bad sleeper… hopefully this one will be a better sleeper than his older brother!
Congrats on your new baby!
Not bad, but I’d say about $500-550 would be reasonable. I’ve been in the unit. Neighborhood nice, close to express buses downtown–very little rif-raff south of Montrose–you can walk quietly at night. Two specials coming up–one for $3000 in October–at least another $3000 next year but not announced. Beautiful building, though lots of deferred maintenance.
I believe about a year, year and a half, ago there was another unit for sale in this building – original everything and never updated – for around $340K if I recall correctly. Over a period of a few months, neither I, nor subsequently my realtor, could ever get the listing agent to return our calls or emails. Wonder what happend to it?
“I believe about a year, year and a half, ago there was another unit for sale in this building – original everything and never updated – for around $340K if I recall correctly. Over a period of a few months, neither I, nor subsequently my realtor, could ever get the listing agent to return our calls or emails. Wonder what happend to it?”
Probably the unit I linked to above. See post on July 12th, 2011 at 11:11 am.
Curious what the seller thinks of the agent.
Miumiu my 14 month old isn’t sleeping through anymore, he was at around 4 months, but then he went in for his surgery and lost the habit. The doctor insists that if I didn’t feed him when we wakes he would stop waking, but she’s not the one who has to listen to him cry for an hour!
One of my friends insists 16 lbs is the magic time, so hopefully you’ll get lucky…
I believe it’s important to nurse rather than feed any expressed milk at bedtime too, as the milk produced at that time of the day is more filling (so they will sleep of course!).
wow 12 hours TS? i would be happy with six : )
oh sorry to hear that jennifer. i know what you mean about the crying : (
hope your little one is ok now after his surgery.
“Probably the unit I linked to above. See post on July 12th, 2011 at 11:11 am.
Curious what the seller thinks of the agent.”
Yes, that’s it. Thank you, DZ. It was definitely an active listing when we were attempting to contact the agent, so must have been a bit longer ago than I recalled. My suspicion at the time was that the realtor was probably saving it for himself or a friend. As, even if it was pending, he could have returned a call. I think it might have been an estate sale.
Miu he’s perfect, apart from not sleeping 😉
great : ) mine is a cat napper and not a great sleeper either.
The antlers in the Wisconsin apartment reminded me of this one.
It’s down to 459,000.
“It’s down to 459,000.”
Do we think there is any chance the bank would take that little? Maybe I’ll get inspired and check mtg amt.
Didn’t feel like looking it up, some here’s some extra inspiration fer ya!
Conforming first $202 on the 2d. The 1st has filed an f/c.
Unit actually has two pins (two 5th floor units when it went condo? they’ve been sold together since at least ’86), so taxes were actually about 40% more than the listed amount.
With 2 mortgages, good luck with a short sale. Wait for the bank to list it….