Rare Single Family Home on Lake Michigan: 7237 S. South Shore Drive
I read somewhere that there are only 22 single family homes in Chicago located directly on Lake Michigan.
Correct or not, it is rare to have a property directly on the lake within the city limits.
This 4-bedroom home at 7237 S. South Shore Drive in the South Shore neighborhood is apparently one of those unique properties.
The house has 2 PIN numbers with one of the lots extending all the way to the lake.
Built in 1903, the house has a wood burning fireplace and wood beamed ceilings on the first floor.
One thing it’s missing is a garage. But it has three parking spaces on the driveway.
Oh- and it’s got a pretty nice beach.
Tracey Taylor at Rubloff has the listing. See more pictures and a virtual tour here.
See the property website here (check out the additional pictures of the backyard and lake area.)
7237 S. South Shore Drive: 4 bedrooms, 2.5 baths, 2587 square feet, 3 parking spaces
- Sold in October 2007 for $1.2 million
- Currently listed for $1.5 million
- Taxes of $7113
- Central Air
- Full unfinished basement
- Bedroom #1: 17×13
- Bedroom #2: 10×10
- Bedroom #3: 12×12
- Bedroom #4: 15×12
Clearly deserving of 300k of appreciation since the absolute peak of the market… get a grip! While this home is on lake michigan, you have to traverse one of the worst ghettos in the city just to get there!
Awesome, but I wouldn’t want to live sdown there. Crap hood.
I used to admire this little beach and hood from the 7th hole at South Shore back in my leisure years.
Why pay 1.2MM here when you can get the same thing in Winnetka or some other North Shore burb?
Unfortunately something like this would be 4m+ in Winnetka or some other similarly nice town.
I would like a link to a Lake Michigan waterfront 4BR house in Winnetka for $1.2MM.
90% of that price has to be just for the lot and beach. That house is rather unremarkable and and actually has pretty cheapo interior finishes (is the kitchen). Plus, as has been mentioned the greater neighborhood is somewhat a disaster, but has great potential….just not $1.5 Million worth of potential.
Bradford you filthy soonka!
1091 Fisher Lane – 1.495MM
945 Ravine Drive – 1.395MM
874 Sheridan Road – 975k
292 Sheridan Road – 1.495MM
300 Sunset Road – 1.295MM
196 Sheridan Road – 1.175MM
You’re in the biz but too lazy to search the MLS???
Is the neighborhood really that bad? I’ve traveled down there for work on occasion, and the parks nearby are amazing and you’re close to the conveniences of Hyde Park and Metra.
It seemed to me there was a pretty big mix–some scary stuff, a lot of working class homes a little further south and some truly remarkable homes close to the lake.
I agree with ME about the interior. I was actually kind of shocked at the photos. It looks like someone really stretched to buy and didn’t have enough left to furnish the home.
But those views–WOW.
Nobody is going to drop 1.2MM to live in this neighborhood when you can get a much better neighborhood, better demographics, better public schools up on the North Shore.
This specvestor way, way, way overshot the market. Maybe if someone in the wild 100s wins the lotto they might buy this place.
“Bradford you filthy soonka!
1091 Fisher Lane – 1.495MM
945 Ravine Drive – 1.395MM
874 Sheridan Road – 975k
292 Sheridan Road – 1.495MM
300 Sunset Road – 1.295MM
196 Sheridan Road – 1.175MM
You’re in the biz but too lazy to search the MLS???”
Which one of those has on-lot access to the lake? Do they include secret tunnels under Sheridan Road?
Which is not to say I wouldn’t prefer any of them, certainly for less $$. But direct lake access they do not have.
Someone might pay 1.2 million to have their own private beach though… never underestimate the stupidly wealthy… Maybe someone wants a nice beach house to use in the summer?
“Is the neighborhood really that bad?”
I think the biggest problem is that Hyde Park is the only place with anything going on remotely nearby.
And the 21-ish story building about 45′ south of the house.
The house is overpriced at 1.4 but you can’t find a similar house on the north shore for that price.
Bob: all of those examples are not similar whatsoever lol.
alexla,
Even if not directly on the lakefront nobody is going to pay $1.5MM for this when you have similar properties like that up in Winnetka that aren’t even selling.
Sorry alexla, no commissions for you this year. Look in the mirror and repeat that a few times to yourself.
The lurkers/agents who hide in the woodwork and come out with pom poms every now again are getting no commissions this year alexla. I can guarantee that. NO COMMISSIONS FOR YOU! haha
lol, Bob: no agent here, and I said I think it is overpriced in my post, I guess you can not read very well. I just think it is stupid to throw out random properties and say they are “similar”. I guee that mean I think you are stupid. lol.
No dock. Next property please.
But seriously, such a unique property. I wonder if the rif raf in the ‘hood parties with bonfires on the beach ’til 4am every night of the week.
Finally, there’s no reason to keep the house too nice; that’s like begging somebody to burglarize your place.
Bob’s stupidness is rubbing off on me with all these typos.
yea bob is an idiot. nothing on the lake on the north shore can be had for anything close to this price. i def agree this isnt worth 1.2mm but if this were in winnetka it would be worth >4-5mm for the land alone.
Bob:
“Even if not directly on the lakefront nobody is going to pay $1.5MM for this when you have similar properties like that up in Winnetka that aren’t even selling.”
That’s a dumb rationalization. Beachfront property *is* different. This same house, across the street, wouldn’t be listed for even $500k (and wouldn’t be worth that). But in Winnetka (or wilmette, glencoe, HP, whatever), the houses you listed would be listed for AT LEAST $1mm MORE if they were exactly the same, except they fronted the lake.
Is the lake access worth $1mm+ in this location? Probably not. But $1.2mm at the top of the bubble was no more inasne than most top-of-the-bubble purchases. I think it’s probably ~$1mm now–$250k for the house, $750k for the lots, or something like that.
“if this were in winnetka it would be worth >4-5mm for the land alone.”
No, it wouldn’t. The lot is *way* too narrow and small.
Yes, a “typical” Winnetka lakefront lot trades at $4-5mm, but this is at least 35000 SF shy of a “typical” Winnetka lakefront lot. But we’ve got apples and oranges in more way than one.
hahaha looks like jfmiii is as big an idiot.
No commissions for you either, jfmiii! NO COMMISSIONS FOR YOU!
3 martini lunch today bob?
“Bob on June 24th, 2009 at 10:43 am
Bradford you filthy soonka!
1091 Fisher Lane – 1.495MM
945 Ravine Drive – 1.395MM
874 Sheridan Road – 975k
292 Sheridan Road – 1.495MM
300 Sunset Road – 1.295MM
196 Sheridan Road – 1.175MM
You’re in the biz but too lazy to search the MLS???”
Clearly the concept of “Lake Michigan waterfront” is lost on you.
The current owner has a $960,000 mortgage note. How’d you like to pay that monthly nut???
This property is hard to value because it’s so unique. My best guess would be to chop 40% off the 2007 bubble price.
Why would you want to live directly on lake michigan anyway? it’s full of e coli and mercury and generally absolutely disgusting. A decent view of the lake from a million dollar condo would be good enough for me.
“Why would you want to live directly on lake michigan anyway? it’s full of e coli and mercury and generally absolutely disgusting.”
LOL WUT? Maybe around Gary… but its pretty much very clean and incredibly beautiful for such a giant lake with millions of people living on it… you do know that the water you drink is from there right? Or do they not yet have Lake Michigan water out in Palatine yet?
“3 martini lunch today bob?”
Hangover induced heat-stroke. Was the 8 beers last night that did it…in normal times..the hangover is subdued…in this heat..want to chuck in the river.
“do they not yet have Lake Michigan water out in Palatine yet?”
Dude, HD lives in uptown, in a studio.
Also, the south shore *is* where the beaches get closed first for e coli, etc. Some combination of where non-Chicago sewage goes into the lake and normal lake “currents” and the legacy of the steel works, etc. in the area.
Oh god, those e-coli things are for like one week in the late seasons anyway…
They still pollute the lake in NW IN so I’m not surprised the south shore gets closed first. That BP Whiting plant likes to dump a bunch of ammonia in the lake. But its all okay because Indiana is a craphole and they don’t care and it of course doesn’t cross the state line and affect the Illinois parts of the lake.
“Oh god, those e-coli things are for like one week in the late seasons anyway”
Uh, no:
“In 2006, [63d Street] beach was closed 36 times for unsafe levels of bacteria, according to the EPA. Last year, the beach was closed 18 times, including one 13-day stretch from Aug. 6-18.”
it’s not just dumping issues, it’s also seagull droppings:
http://archives.chicagotribune.com/2007/jul/08/news/chi-beaches_sub_08jul08
Yeah people more leave trash on the beach = more seagulls pooping
I feel vindicated. I didn’t knock the lake, I knocked living directly on it.
You have to go all the way to Lake Bluff, but here it is…
http://www.realtor.com/realestateandhomes-detail/665-Maple-Avenue_Lake-Bluff_IL_60044_1106054530
Nasty bluff here, but nearly same price, and on the lake…
John
“Nasty bluff here, but nearly same price, and on the lake”
Definitely preferable, both as a house to live in and for future use.
The Lake Bluff house listing indicates 1.7 acres. I’ve been in that area, and it is stunning. The two ravines are dramatic and heavily wooded. The ravines are a path to the lake and cut through the bluff. Excellent schools, neat village that is very family oriented. Not a comparable to the south shore of Chicago.
It looks like the Lake Bluff listing is intended as land value only, no?
From the listing, “Village of Lake Bluff has indicated that approximately 8,600 square foot home could be built here.”
“It looks like the Lake Bluff listing is intended as land value only, no?”
The existing house doesn’t look like much from the couple of available photos, but probably livable.
That would be at least an hour commute by train would it not? Still a cool property though…
“That would be at least an hour commute by train would it not?”
Not if you got a job in Lake Forest. Or could afford to build an 8000 sf house right now.
Off-topic question (if there is a topic on this thread…) from long-time reader but general RE noob: A house I am looking at was sold as new construction in ’04 for 100k more than current list price. It isn’t listed on Redfin as a short sale or foreclosure, but when I checked out the doc’s on CCRD, it showed up as “Les Pendens Foreclosure” as of 1/09 (a couple months AFTER it went on the market).
Can someone explain to me: is this house in foreclosure (just not listed in MLS as such) or is it in the beginning stages of foreclosure and the owner is trying to jump ship. Basically, I want to know what kind of risk or liability I would be taking on by moving forward with the purchase. Thanks, in advance, for the help.
Sorry, I meant “Lis Pendens Foreclosure”. Let the mockery begin…
A well-heeled unconventional (nontypical, non-North Shore) buyer comfortable with the “tough” low-income southside neighborhood atmosphere may be interested in buying this house solely for the beach access. A big HOWEVER: house needs a security fence and locked gate, a high-quality security system, exterior lights on motion detectors, to make sure it’s not an attractive target for burglars and street crime.
In Oak Park, given it’s close proximity to Austin, burglaries and street crime have always been an issue. Now, with the recession, it seems that both burglaries and street crime have spiked significantly. I read the local paper now, and am appalled by the daily crime activity. Oak Park residents are mugged at knifepoint, at gunpoint, by “wilding” (engulfed by several angry teenagers and beaten), by car-jacking, etc. Houses are burglarized, sometimes while people are even home, with doors kicked in and windows broken. And Oak Park is still considered a safer neighborhood than South Shore/Jackson Park area.
Second, aside from the security concern, house doesn’t contain finishes expected for a $1.5 million house. Suspect this house will be a foreclosure soon.
“A big HOWEVER: house needs a security fence and locked gate”
Might be tough, as the driveway is shared with the neighbor to the north and most of that paved area b/t the houses is on the neighbor’s property. And the nighboring house to the south is practically touching.
http://media.rubloff.com/pics/property/4810930/1/Living%20Room.jpg
Looks like SOMETHING died a messy death right next to that couch and left a giant stain in the nice hardwood floors.
“Looks like SOMETHING died a messy death right next to that couch and left a giant stain in the nice hardwood floors.”
No silly, their dog just exploded… nothing to see here its perfectly natural when they get old… move along!
They should’ve definitely staged with a bigger couch and covered that spot up.
I’m wondering when in the building’s history they decided to paint over woodwork, and the built-in hutch in the dining room. Looks like this house could use some TLC to bring it back to it’s probable former beauty, if someone wanted a project to take on.
I had thought that there was now a movement afoot to convert all the private Chicago beach front into publicly accessible land. If that is the case, it could signal why the buyer is selling. Of course, this individual could just be in over their head.
If the lake level goes up living on the lake will be like watching the sands through the hourglass as your beach washes away and exposes your foundation.
Has anybody actually been to South Shore? It’s hardly a ghetto and not without local business plus there’s a big Dominick’s nearby and has more nightlife than Hyde Park (including two gay bars).
I happen to live in South Shore (unlike most of the idiots on this post who THINK they know about the southside of Chicago).
This house and the little neighborhood it is in are INCREDIBLE.
I’ve wanted to buy there since I was young, as has everybody I’ve met who knew about it.
Right next to the South Shore Country Club. And the spot is quiet (considering it’s right off South Shore Drive) and safe. The beach has been private forever and is pristine.
The real problem is that a large privately owned house that was directly above the beach was recently sold. The parcel has been converted into a low-rise condo building, with about 10 units.
Not a big problem, I guess. But it broke my heart when I saw it. Something special had been lost.
Not all of us hanker to live on the North Side or the North Shore.
For people like us, this property, as well as the Jackson Park Highlands or Kenwood, offer the same kind of North Shore housing without the North Side ghetto attitude.
re: “I’m wondering when in the building’s history they decided to paint over woodwork, and the built-in hutch in the dining room.”
1930’s / 1940’s was a period when it was super fashionable / trendy to paint any and all woodwork. And then again in the 60’s / 70’s when it was either painted or ripped out entirely.
The paint jobs might seem like a tragedy… But for beautiful old homes trapped in struggling neighborhoods, I view the paint as a layer of protection from the elements. 3-30 layers of paint make a great barrier for when someone sets a cold drink on that mantel.
Still listed for 1.5MM bwhahaha..
Crime is pretty bad down in South Shore. Seems like the closing of the high rise projects flooded the multi-family buildings down there with some undesirables. A shame too because it was becoming a viable place to raise a family and was beginning to attract some diversity.
this house will be priced at 1.7 MM in 2011, 1.9 MM in 2012. Cuz it is a traditional landmark house with private beach. 5 years later it would be 4.2 MM when the south side at 75th-95th south shore is developed with 3 MM houses community.
Hahahahahahah
Irrational Exuberance
ir*ra*tion*al ex*u*ber*ance
[ih-rash-uh-nl ig-zoo-ber-uh ns]
-adjective
1. kim young’s post.
Relisted for 1.5MM again on 6/21/2010. Price cut to 1.39MM on 9/23/2010.
Crickets..
just wanted to point out that the house in Lake Bluff posted by JKD sold in October for $975,000. Originally listed in ’09 for 1.67 million.