Reduced Over $460K in Roscoe Village: 2015 W. Fletcher
This custom built 5-bedroom home at 2015 W. Fletcher in Roscoe Village is being sold “as-is.”
It’s also been on and off the market since 2006 and, during that time, has been reduced by over $460,000.
The house has a two-story living room, skylights, and a kitchen with maple cabinets and stainless steel appliances. It also has 4 fireplaces to take away the chill of those cold Chicago winters.
The house has central air and a 2.5 car garage.
Is this a steal at this price?
David Piche at Re/Max Signature has the listing. See the pictures here.
2015 W. Fletcher: 5 bedrooms, 3.5 baths, 4000 square feet, 2.5 car garage
- Sold in February 1999 for $135,000
- Originally listed in May 2006 for $1.2 million
- Cancelled
- Re-listed in September 2007 for $1.175 million
- Cancelled
- Re-listed in June 2008 for $1,099,900
- Cancelled
- Re-listed in March 2009 for $1,049,900
- Cancelled
- Re-listed in June 2009 for $772,900
- Under contract
- Re-listed at $756,900
- Reduced
- Currently listed for $737,900
- Taxes of $12,735
- Central Air
- Sold “as-is”
- Must be pre-qualified by B of A
There must be a catch. Trying to auction it off?
I thought this was West Lakeview, not Roscoe Village.
I have been very interested in this house for some time, and I will now move forward on making an offer. Although it is being sold as is, the few problems we uncovered were due to it being neglected after the renovations were complete and all will be easily remedied. This latest reduction is just too good to pass up…I thought the previous asking was appropriate for the work that was done to it to bring it to this modern condition. Some very unique work has been done with an eye to detail and quality. Not too much for us to tackle.
I have an extensively renovated house down the block from it and while it received many offers over a two month period, I ended up keeping and renting it. If my offer is accepted, I believe after the renovation is complete, I will retain it as a rental as I don’t think the comps in this area will support an asking price I would want for it. I also have one crew member who really has fallen in love with Chicago so it would be a great place for him and his family.
If anyone has the opportunity to visit it (brokers esp) I would like to know what your opinion is. Although I did say I was done purchasing in Chicago and our time here is very limited, all of my crew would be willing to stay another month to finish it. It is rare that we all agree on a place, but since we do on this one I will go with it.
I’m sitting here trying to convince my wife to consider this place. Man is she stubborn. Thought she was going to file for divorce. Doesn’t like the congestion in this area. We lived not too far away previously. Doesn’t like the brick front and frame sides. Not even Westloopeloo’s endorsement will convince her. She’s got this notion that it’s not enough for a house to be a good value. Go figure.
Westloopelo, have at it. At least you won’t be bidding against me.
I’m with Ms. Lucido on her opinion about the brick front and the siding. To me, an admitted non expert (but blowhard nonetheless), it looks half done. Admittedly, I’ve always loathed siding – and I’m not even related to any bricklayers. The interior is beautiful, though.
Looks like no greater fool came along to bail out this real estate speculator. Just because the price to bail them out of their foolish business decisions was 1.2MM does not a 1.2MM house make.
I suspect this goes for around 775k.
westloop,
In your opinion, does “as is” scare you at all. back in 07 when we were looking we checked a few “as is” place because of the price. I am pretty handy and can do most work myself but just eye balling the few “as is” places, it seemed like there were a lot of hidden dangers that i wouldnt catch until later down the road. the “as is” places looked like a typical not maintained very little upkeep place that a weekend warrior could tackle easily. maybe we passed on a really good price cause of speculating hidden problems.
your expertise and opinion will help me next time.
My vote is that for the sq. footage and proximity to Hamlin Park, this is a good price – IF – the structure and contents are still in good condition. Duplex downs in this area are in the high $400s and smaller, more traditional SFHs start in the high $600s. Some of the details are a little cheesy, but wouldn’t take too much work to change. I’m surprised it hasn’t moved more quickly – something has to be wrong with it.
I like that Hamlin Park area, Clybourn does stink but it has a neighborhoody feel. Duplex downs are in the low 400’s here so that’s not a great comparison especially since this is a custom home.
The art deco is interesting to say the least, its not an ugly house, but why didn’t they brick the whole thing? So cheap when they do that! This house would have probably fetched that 1mm+ asking price if they bricked the whole thing!
“I’m surprised it hasn’t moved more quickly – something has to be wrong with it.”
At some point in this RE cycle we’re going to get to the point where the banks simply aren’t going to give generous financing anymore as opposed to foreclosures having something intrinsically wrong with them. Perhaps we’re there?
Then again WLelo is going to make an offer on this place so maybe there are still investors alive and well.
Note that this is on a 28′ lot.
It is school challenged, being in the Jahn attendance area, but I would expect Jahn to improve with the change in the neighborhood from 10 years ago.
I like nothing about the front of the house, and I don’t like that there are only 3 BRs upstairs (2 in the basement).
That said, taking WL’s assessment of what needs to be fixed, this is pricing the lot under $300k, which seems pretty good to me, even going forward. So, if the layout worked for your living situation, and you like the style, this looks like a VERY good deal to me.
BofA may not be pre-qualing anyone, or the loan terms offered may suk, which may be the problem. Or it might just be that it’s in teh pricing dead zone–those who can afford it can afford to pay a little more for something more right for them and it’s too high still to be “cheap”–$150k is a large DP and $600k is still a jumbo loan which is ~$4500 a year more in interest only on the first $417k.
nice enough place, but as someone who used to live right down the street, IMO the congestion is *brutal* if getting around is a priority. On a Saturday morning it would take us 15 minutes just to get to 90/94, and god help you if you need to take the CTA downtown.
we moved further west due to the gridlock, and I’ve never been sorry.
Definitely not a fan of the outside, but the light in what I’m assuming is the living room is nice. However, the balcony thing (off the master?) into the living room would make me nervous with little ones around. For someone experienced with renovations like westloopelo, I bet this could be a very nice home for someone.
“In your opinion, does “as is” scare you at all.”
In most cases it does. My saving grace is, of course, my crew. One long term member and business partner was a housing inspector prior to coming on board with me. Between his eye for detail and knowledge of construction, my very experienced crew (who have seen EVERYTHING that can go wrong with a house and more…and their ability to fix such defects) and my OCD and demand for perfection, nothing gets past us.
I have toured the place twice as have two of my crew. Although we have yet to do our usual top to bottom inspection, what we have seen is not that bad at all. Of course sometime this next week we will be going through it with a fine tooth comb and that should give us a better idea of what we are up against.
I too am not a fan of a partial brick exterior, but in rare cases I do make exceptions. This is a rare case.
“Then again WLelo is going to make an offer on this place so maybe there are still investors alive and well.”
I am not sure of all RE investors. I do know MANY have thrown in the towel until conditions improve, even then it will still be very risky to move forward. I am VERY lucky and fortunate to have the priceless advantage of not relying on any bank’s bullsh*it regulations. They end up sitting on a transaction until all interest dies. I can’t imagine all the butt one has to kiss to get an instituion to approve a loan…esp for this type of place. Once a lender takes a look at the history of the house, unless you have stellar credit and resources, it would be nearly impossible to get them to give the green light.
“god help you if you need to take the CTA downtown.”
The folks I know nearby who use CTA to DT use the Paulina stop and walk or drive depending on weather, etc.
“On a Saturday morning it would take us 15 minutes just to get to 90/94”
11am barely qualifies as morning, dude. But, yeah, Damen b/t Diversey & Belmont is b.r.u.t.a.l., especially around the beginning/end of baseball/football games at Hamlin. And the access options to W-bound Kennedy suk thru here.
Westloop,
thank you for your professional oppinoin, i am glad i stayed away for “as is”, i will just stick to the basic fixer uppers next purchase. given i am growing tired of doing it myself for my house and friends places.
“Belmont is b.r.u.t.a.l.” belmont and linclon on a saturday will ruin a weekend. just like diversey/western/elston if your on diversey. or if you are on elston going SE by fullerton on friday at 5pm. ahhh chicago traffic 🙂
anyone, how is hamlin park? spill over form the projects and all?
“anyone, how is hamlin park? spill over form the projects and all?”
not really – the folks from lathrop homes are scared of getting run over by the double-wide strollers. you don’t mess with a trixie mommy on the way to gymboree
“trixie mommy on the way to gymboree”
that is the funniest thing i heard all week 🙂
“11am barely qualifies as morning, dude. But, yeah, Damen b/t Diversey & Belmont is b.r.u.t.a.l., especially around the beginning/end of baseball/football games at Hamlin.
And the access options to W-bound Kennedy suk thru here.”
the area is gridlocked all day on Saturday and weekdays, Sunday is the only time it’s ever remotely mellow.
the problem is you have the river between you and the expressway, no getting around that.
“the area is gridlocked all day on Saturday”
You never got out of the house before 9 on Saturday if you think that (hence my joke). It’s not bad before Costco opens, unless there’s early sports at Hamlin.
This house is also really close to “Fellger Park” which has my vote for the best playground/park for kids in the city.
Calling this house within Roscoe Village is a stretch, but this part of “West Lakeview” has changed in leaps and gentrifying bounds in the last 10 years or so. I remember going to nearby Beat Kitchen when it was surrounded by older Single Family Houses instead of new construction condos.
Good luck with your bid, Westloopleo.
“You never got out of the house before 9 on Saturday”
this is true. : )
too bad about public trans. but if your dropping 600K you probably don’t care. has style, but can you really charge 3500/mo+ for rent?
“This house is also really close to “Fellger Park” which has my vote for the best playground/park for kids in the city”
i think i will swing by these parks for a stroll this weekend.
westloop keep us informed about the full/detailed inspection you do 🙂
Fellger is OK, but if you think it’s the best you definitely need to get out more. Portage Park is the standard, IMO.
There is this Fellger Park exactly? how is the parking in the area? I might go there too on the weekend:)
“Portage Park is the standard, IMO”
There are so many great parks in chicago, i dont think there is one that can be the best cause each have different stuff. Portage is sweet in the summer for the eastrn european eye candy and the swimming pools. the tennis courts there suck butt. I like Warren Park, Riss, Washigton, Shabbona, Garfield, Norwood, and all for different reasons.
is fellger new or something, i dont remember in my life passing by it?
312,
maybe i will see ya there 🙂
Fellger is the playground at teh NW corner of Damen and Belmont. It’s big for a playlot.
The house just to the north on Damen has had a for sale sign up for at least 15 years. Actually, I’d be *really* interested in what the deal is with that, b/c I’ve never been quite curious enough to call, but am intensely curious.
“anyone, how is hamlin park? spill over form the projects and all?”
Hamlin Park has an outdoor pool, but basically it’s a park with 4 ball diamonds. Those 4 diamonds are constantly in use from morning to night in the summer, Little League and softball. The Cubs organization donated money to renovate the 4 ball fields. On the weekends, it’s packed with families. It’s very gentrified at this point, don’t know much about winter time, but I’d bet it’s very peaceful.
Fellger is basically a giant gated playlot. I let my 14-month-old daughter who just learned to walk to play in there, and we both have a blast.
I love Portage Park too, BTW. We had a picnic there over the summer one Sunday when they had a farmer’s market there. How about: “Fellger is one of the best if not the best parks for kids.”
You’re all wrong about the neighborhood. It takes 5 minutes to get to 90/94 if you know the shortcut. Sure Damen is slow. So are most streets in lakeview.
There is only one obvious problem with this house…and the reason why it doesn’t sell….it leans to the right.
312forever,
“I might go there too on the weekend:)” so did you go? I went there sunday, its funny cause that park has been there for a looooooong time i probably have passed it a billion times and it just never stuck in my head.
we only stayed at that park for about 45 minutes and walked over to hamlin park.
dear gosh, everyone there has a double wide jogging stroller, its fricken insane. it was like the twilight zone.
the grooves usually stand out place we go, but dang at hamlin park we like the sesame street song “one of these things is not like the other”.
“You’re all wrong about the neighborhood.”
Really? All of us? Even those saying it’s not so bad?
Or are you saying there’s a secret entrance to the westbound Kennedy? Because I don’t think that Armitage/Ashland or California/George are fantastic options, b/c both are going the wrong direction, first.
But, yeah, the shortcut does make it much, much better. Both going to and coming from the Kennedy.
i can tell you sunday no car traffic at all in that area, now doulble wide jogging stroller trafic was a different story.
“i can tell you sunday no car traffic at all in that area”
Bears game. Any year the Bears look decent, there’s minimized traffic in the greater clybourn/Elston area (which this is–the Damen traffic is bad b/c of CLybourn and Elston) is substantially diminished until the end of the game (unless its a night game).
I have two kids, but no doublewide stroller–I really hate them. Only with twins do I think they’re okay.
very true bears game does affect traffic, from 12 to 3 i only left my buddies couch to use the little boys room.
but the converse of that is the football widows go shopping during the bears game which increases the traffic 🙂
the best part of the double wide jogging stroller pushers we saw is you can tell only 30% actually use it to jog.
now i do have a LARGE stroller as our main pushchair but nothing to compare to the behemoths that these lemmings use. (yes we have 4 strollers for one kid)
Groove77,
No, unfortunately we didn’t go.
I went to CPS fair on Saturday – very informative event, I learned a lot. Planning to go next year as well. And on Sunday we were too lazy to drive and just went to LP Zoo.
And why 4 strollers?!
312,
it was pretty dead before the bears game at the park, thats why we scooted over to hamlin. fellger is a pretty sweet park for little kids! i dont think its a destination park but its a super in the area park.
anon,
“I really hate them”, thank you thank you thank you i am very glad to see you are not a yuppie sheep type 🙂
312,
“yes we have 4 strollers for one kid” was a disclaimer to not feel guilty for bashing the lemming double wides. we actually have 5 but the fifth is a true jogging stroller that is still in the box until he is old enough to go on runs with me. (one more month!).
as for the other four, which i always assumed all parents had at least three?
Gotta have the light weight one, need to have the super luxury one with bassinet, gotta have the cool looking one, and the graco one from the baby shower that everyone gets but hates using.
“as for the other four, which i always assumed all parents had at least three?”
I think we’ve bought 5; defintely 4. And that’s w/o a jogging stroller. But (so far) nothing new for kid 2, just hand-me-down strollers.
We only had one stroller at a time – party because we have no storage space. But I am also trying to tame my inner consumer. We had Bugaboo for 2 years and it was very functional, never needed another one. When sold it and got lightweight umbrella stroller.
I prefer to walk – so need for jogging stroller for me.
See anon proves my assumption he has 6 🙂 when/if kid 2 comes our american consumerism will have us buying 3 more brand new.
312,
I hear good things about that bugaboo, we passed on it cause we wanted to be “Different” so we bought a Lime green Peg Perago Skate. the thing is a beast, we love it, but it wont fit in her car unless i take it apart.
“See anon proves my assumption he has 6”
Dude, 5 max, probably only 4. And I don’t know which b/c 4 and 5 (if it exists) were the “crap, the kid really isn’t ready to walk on vacay” purchases while traveling. And if it were totally up to me, we’d have at most two.
“And if it were totally up to me, we’d have at most two”
it was up to me, and thats why we have 5. that not including the grandma’s stollers at thier place 🙂
“crap, the kid really isn’t ready to walk on vaca”
for vacations i swear by our quinny zapp.
Groove,
Peg Perago Skate is really cool looking one, I’ll keep it in mind for baby #2! In 2006 there were very limited choices of strollers with bassinets, so Bugaboo was an easy choice. Now there are so many great European strollers available.
P.S. I should be banned from this blog, everything I post is off topic.
i think there are many more people that will get banned for being off topic. its funny to re read the post to see where the topic take a turn 🙂
the Peg Skate is a plush pimped out stroller, its not for everyone and i dont see how i could make it my only stroller (its 34 pounds). we almost got the Uppa Baby vista but it got to mainstream and we just have to be “different”.
but one thing i push on new parents is the bassinet feature, its not a necessity, but i loved it.
Dude, if I had one $500+ stroller, I’d have one. The whole lot we bought only cost about $500. But then we’re cheap about stuff like that.
we were frugal too, somewhat. the $900 skate we got at the Right Start on clyborn for $300 when it was going out of business. we got the quinny zapp $219 for $100 bucks when Baby universe(online) went out of business. Paid full price for the BOB ironman $350. Got the Inglesina Zippy $399 for $279 on sale and used a coupon from when i bought the BOB. The baby planet solo i bought full price casue it was so shinny and cool $189.
so in total i paid around $1,200 just in strollers.
DONT ASK HOW MUCH I PAID FOR OTHER BABY STUFF
“the Right Start on clyborn … when it was going out of business”
Yeah, right before it re-opened, in the same location, with the same name, but no longer a division of FAO Schwartz. Gotta love the bankruptcy process.
I was just over there at pottery barn kids (yes my american consumerism in effect) about a month ago, never even thought to look. Ha, Bankruptcy the 9th wonder of the world.
i will be going to the right start next weekend, they have good stuff for decent prices.