Has 18 Years of Price Appreciation Been Wiped Out in Montclare? A 2-Bedroom Cottage at 2421 N. New England
This 2-bedroom vintage cottage at 2421 N. New England in Montclare just came on the market.
It is bank owned.
The listing says it is “eligible under Freddie Mac First Look Initiative until 5/25/2012.”
Built in 1916, it is just 835 square feet.
There is no lot size listed but it has a big enough back yard for a deck off the sliding glass doors and a 1-car garage.
It has hardwood floors, arched doorways and an enclosed front porch.
There is a partial picture of the kitchen, which shows a stove and some cabinets. There are no pictures of the bathroom.
The house is just a short distance from the Brickyard Shopping Mall and two metra stops.
This house is listed about $11,000 below the 1994 price at $92,020.
There is another 850 square foot 2/1 cottage under contract just up the street at 2427 N. New England listed for $69,999 that is pending. That one is a short sale.
Is this kind of pricing the new reality for these small homes outside the GreenZone?
Is nearly 20 years of home appreciation being wiped out in some parts of the city?
Patti Furman at Coldwell Banker has the listing. See the pictures here.
2421 N. New England: 2 bedrooms, 1 bath, 835 square feet, 1 car garage
- Sold in June 1994 for $103,000
- Sold in August 2005 for $232,000
- Lis pendens foreclosure filed in December 2010
- Bank owned in April 2012
- Currently listed at $92,020
- Freddie Mac First Look Initiative until 5/25/2012
- Taxes of $3113
- No central air
- Bedroom #1: 11×9
- Bedroom #2: 10×9
- Living room: 12×12
- Dining room: 12×14
- Kitchen: 12×12
Since this is close to the Metra, might be a good pied a terre for someone who lives in the ‘burbs like myself. I thought this was considered an up and coming area. Surprised there has been no RE appreciation.
Sad that this has gone back to the 1994 price. It’s a cute little home, but the exterior vaguely reminds me of a trailer. Is this neighborhood safe? I know nothing about it.
It probably needs work since the granny that owned it probably just checked out but the agent didn’t help with such horrible photos.
3 pictures of the front
2 pictures of windows
2 pictures of corners
That’s some nice work there.
No neighborhood is safe jenny.
Well, there was a shooting a few blocks from my house last night.
Safe=No able bodied thugs hanging out on the block
Did you go outside today, Jenny? Careful, there’s people out there!
835 square feet? Wow – almost sounds like one of those mini-houses that are sometimes featured on the interwebs.
This is a very “charming” neighborhood; attractive houses, large park across from the Mars factory on Oak Park Ave., Metra to the loop and suburbs. However it is rather “remote” in terms of closeness to major shopping areas and would probably be a little borning for DINK first-time homebuyers.
umm – “a little BORING…” And the Brickyard is not “major” shopping in that there is no “upscale” department store in the mix.
Those kids next door look pretty careless with their bicycles. That one with the blue basket is clearly across the property line. Is that a skateboard ramp in the neighbors back yard? Def thug potential.
“no “upscale” department store”
Geez, have to think hard about the last time my family purchased anything in an “‘upscale’ department store’–maybe once in the last 18 months.
“maybe once in the last 18 months”
Us too, probably over 24 months at this point.
“Has 18 Years of Price Appreciation Been Wiped Out in Montclare? A 2-Bedroom Cottage at 2421 N. New England
May 14, 2012
11 Comments
This 2-bedroom vintage cottage at 2421 N. New England in Montclare just came on the market.
It is bank owned.
The listing says it is “eligible under Freddie Mac First Look Initiative until 5/25/2012.”
Built in 1916, it is just 835 square feet.
There is no lot size listed but it has a big enough back yard for a deck off the sliding glass doors and a 1-car garage.
It has hardwood floors, arched doorways and an enclosed front porch.
There is a partial picture of the kitchen, which shows a stove and some cabinets. There are no pictures of the bathroom.
The house is just a short distance from the Brickyard Shopping Mall and two metra stops.
This house is listed about $11,000 below the 1994 price at $92,020.
There is another 850 square foot 2/1 cottage under contract just up the street at 2427 N. New England listed for $69,999 that is pending. That one is a short sale.
Is this kind of pricing the new reality for these small homes outside the GreenZone?
Is nearly 20 years of home appreciation being wiped out in some parts of the city?
Patti Furman at Coldwell Banker has the listing. See the pictures here.
2421 N. New England: 2 bedrooms, 1 bath, 835 square feet, 1 car garage
Sold in June 1994 for $103,000
Sold in August 2005 for $232,000
Lis pendens foreclosure filed in December 2010
Bank owned in April 2012
Currently listed at $92,020
Freddie Mac First Look Initiative until 5/25/2012
Taxes of $3113
No central air
Bedroom #1: 11×9
Bedroom #2: 10×9
Living room: 12×12
Dining room: 12×14
Kitchen: 12×12
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11 Comments
matthewlesko (May 14, 2012, 2:54 pm)
Since this is close to the Metra, might be a good pied a terre for someone who lives in the ‘burbs like myself. I thought this was considered an up and coming area. Surprised there has been no RE appreciation.
Rating: -3 (from 5 votes)
jenny (May 14, 2012, 3:09 pm)
Sad that this has gone back to the 1994 price. It’s a cute little home, but the exterior vaguely reminds me of a trailer. Is this neighborhood safe? I know nothing about it.
Rating: -1 (from 1 vote)
Tom (May 14, 2012, 3:11 pm)
It probably needs work since the granny that owned it probably just checked out but the agent didn’t help with such horrible photos.
3 pictures of the front
2 pictures of windows
2 pictures of corners
That’s some nice work there.
Rating: +6 (from 6 votes)
Vlajos (May 14, 2012, 3:22 pm)
No neighborhood is safe jenny.
Rating: +2 (from 6 votes)
jenny (May 14, 2012, 3:25 pm)
Well, there was a shooting a few blocks from my house last night.
Safe=No able bodied thugs hanging out on the block”
You have to move to the north shore and get as far away from the riff-raff as possible. If the police see anyone that looks like riff-raff, they pull them over and arrest them immediately. Sort of like:
“”I don’t like you suckin around botherin our citizens Lebowski. I don’t like your jerkoff name, I don’t like your jerkoff face, I don’t like your jerkoff behavior and I don’t like you. Jerk off.”
“Stay outta Malibu, Lebowski!”
Exactly.
I don’t know – haven’t heard good things about the area around Riis Park recently. I believe Riis Park is MLD territory
But, in general I would say its an OK hood though. Wouldn’t be for me
MLD? Please translate.
“835 square feet? Wow – almost sounds like one of those mini-houses that are sometimes featured on the interwebs.”
you of all people should know that the sqft is just for the first floor and not the whole house. Its not over-inflated like when mario g adds in closets/balcony/common rooftop/parking/elevator shaft’s
“MLD? Please translate.”
Maniac latin Disciples gang
“However it is rather “remote” in terms of closeness to major shopping areas”
are you F’ing kidding me right? right?
i can spit and hit the brickyard mall. and a short 3 minute drive to all the oakpark has to offer.
HAVE YOU NOT SEEN HOW CLOSE THE BRICKYARD IS? AND WHAT STORES IT HAS?
“HAVE YOU NOT SEEN HOW CLOSE THE BRICKYARD IS? AND WHAT STORES IT HAS?”
But Groove, there’s no upscale department store. Where are the prospective residents of this house going to go when they have an Hermes or Louboutin emergency? Oak Brook?
“But Groove, there’s no upscale department store. Where are the prospective residents of this house going to go when they have an Hermes or Louboutin emergency? Oak Brook?”
LOL
but if your buying a 99k house then most likely you are buying a coach knock off on ebay or a korean store on lawrence
also if your buying a 99k house then your upscale shopping is Pier 1 and Marshall’s both of which the brickyard has
If your buying a 99k house upscale is shopping at Lowe’s not HomeDepot, which the brickyard has both.
if your buying a 99k house, upscale dining is chipotle and starbucks which the brickyard has.
…but if you’re buying a 99k house, you have money left over to buy designer goods!
“Safe=No able bodied thugs hanging out on the block”
or in the trees, like they have in northfield
I purchased some valentine chocolate at macy’s this year. is that considered upscale? it was the water tower locale so I think I’m good!
““maybe once in the last 18 months”
Us too, probably over 24 months at this point.”
There’s no avoiding the men in the trees, but at least I can avoid the thugs or the packs of roving teens.
“at least I can avoid the thugs or the packs of roving teens.”
Not to mention people bouncing balls, or on bikes.
Or, worst of all, roving packs of teen thugs, bouncing balls, while riding bikes in shrubbery.
Going back to the 1994 nominal price is pretty extreme. I wonder about the condition of the place.
“I purchased some valentine chocolate at macy’s this year. is that considered upscale?”
The valentine chocolate purchase or macys? Former almost certainly not (though it is a ridiculous holiday), latter probably not enough for @fo.
“latter probably not enough for @fo”
Hey now.
Macy*s (don’t forget the star) falls into the “haven’t bought there in a long time” department store category.
Query is whether upscale enough for CTG. And, if she meant upscale in a way that excludes Macy*s, then it’s a massive misunderstanding of Greater Elmwood Park.
“Hey now.
Macy*s (don’t forget the star) falls into the “haven’t bought there in a long time” department store category.”
Sorry for the excessive snark. I made that assm only b/c of your upscale dept store comment. There’s a vast simplehuman display at macys state st and given your stated appreciation of simplehuman products, couldn’t imagine you had not been. I realize you could use amazon or bbb, but thought you were more upscale than that.
As for macy*s, if macys can use macy’s, then that’s good enough for me, and you know I’m casual with apostrophes and such (which I thought only angry Bob was authorized to complain about).
“Not to mention people bouncing balls”
forgot about that one. given there are so many its easy to slip the mind of all her good quotes.
sorry to all but i have to say of everyone on CC if jenny would stop posting it would hurt me the most.
back to the property (odd seeing groove type this)
this area and to the north to belmont is flooded with cheap housing stock. some of it in good condition. i can see why this is at 99k its competing with lots of inventory at low low prices. the hood is not bad but not great, crime isnt bad but not great. school is not horrible.
” I realize you could use amazon or bbb, but thought you were more upscale than that.”
costco, container store, direct from SH, etc etc.
“As for macy*s, if macys can use macy’s”
star comment was snark too.
“costco, container store, direct from SH, etc etc.”
With possible exception of costco (which would not have anything close to a full line), surely none of the others explicitly listed would be a better deal than amzn (for shipped) or bbb (for local).
I remember always thinking it was the “Manic Latin Disciples”. That sounds better. I think they should change their name.
“surely none of the others explicitly listed would be a better deal than amzn (for shipped) or bbb (for local).”
But I’m upscale, so don’t mind spending an extra $5.
talked to a local official over here,
they are seeing that seniors are stuck in large homes because of the the buuble and cant sell for what they remortgaged for. and most cases the remortgage was to help a the children stay afloat during our recession/depression.
are people seeing that in other areas too?
BTW these 99k homes are my competition, there is no way i am listing going up against that and no way i am taking a hit on my perceived value, I will/can wait. hmmm that makes me shadow inventory right?
Groove, what do you mean by a local official?
I’ve been saying for years that the NW side was completely over-refinanced and HELOC’d to the hilt. Most of the houses on the NW side in livable condition were around $100k for years and years and only during the boom did prices shoot into the $200’s and $300’s. These days prices are back at the $99k level for homes taht need work but move in ready homes are in the $200’s and $300’s, quite frankly, because that’s the kind of money it takes these days to make these crapshacks new anyway.
“what do you mean by a local official?”
it can run from precinct captain to ward leader/boss to alderman to business council to community group to congressman to neighborhood watch to crooked union boss to secretary in the the congressmans/aldermans office
all of those apply.
Wow – Sold for just 65K on 8/14/12 after 96 days on the market.