Rehabbed Greystone Still Available 13 Years Later in East Lakeview: 550 W. Oakdale
This 6-bedroom single family home at 550 W. Oakdale in East Lakeview first came on the market in May 2010.
We’ve chattered about it several times over the years, with the last time in April 2018.
You can read our 2018 chatter here.
If you recall, this is a rehabbed greystone which was built in 1900. It is on a 25×140 lot and has a heated brick 2-car garage which has “a commercial 8-foot entry door, and 15-foot inside height allowing lifts for two additional parking spaces.” It also has an EV charging port.
The house no longer appears to have any of its interior historic features. It doesn’t even have crown molding. A prior listing said the house had 12 foot ceilings and 8 foot doors.
It has skylights.
The most unique feature in the 7000 square foot home, however, is the custom atrium staircase with a 53 foot view, topped by a custom fitted dimming Lightology chandelier that spans 35 feet in length.
The kitchen has wood cabinets, luxury appliances by Viking, Zephyr, Subzero and Wolf. It does not have an island but has a breakfast bar and a separate dining area.
Four bedrooms are on the second floor along with 2 full baths, the laundry room and a gas fireplace.
The primary suite is on the third floor and has an en suite bath, a walk-in-closet and a long composite closets along the hallway.
The third floor also has a family room/party room which opens onto a 240 square foot deck with a outdoor fireplace and a powder room. It appears to be a street facing deck as you can see the bricked fireplace in the picture above.
The house has a finished basement which has the sixth bedroom, a full bath and a powder room.
The listing also says it is “one of the rare homes that has never flooded since it has been rehabbed.”
Other features of this home include: “Radiant heated tile floors and Brazilian Cherry floors throughout, oversized water heater, 4 air handlers, 4 roof mounted AC units, and 4 separate thermostats and 8 floor heating zones, heated out door walkway/staircase, triple vented gas sealed windows, spray foam insulation throughout, central vacuum, 600 amp service (which is triple of what most homes this size have), and wired for smart house technology.”
It is also fully sprinkled.
The listing says this home is in the Nettlehorst school district. It is near the shops and restaurants of East Lakeview, numerous bus lines, the Landmark movie theater and several grocery stores.
It was listed at $3 million in 2010 and has been reduced to $2.195 million. When we last chattered about it, in 2018, it was listed at $2.199 million.
Should the seller:
- Stage it with furniture, plants, artwork?
- Rent it out so that it comes off the market and has some humans living in it?
- Lower the price until it finds a buyer?
- Update the kitchen and baths with new finishes?
- Build a pergola?
Inventory is at record lows. There are just 7 homes on the market in Lakeview priced between $1.8 million and $2.5 million, including 579 W. Hawthorne that we recently chattered about. See that house here.
Is this the year it will finally sell?
Myroslava Dysko at Core Realty & Investments now has the listing. See the pictures here (sorry, no floor plan)
550 W. Oakdale: 6 bedrooms, 4 baths, 3 half baths, 7000 square feet, 2 car parking
- Original property sold in June 2007 for $907,500
- Originally listed in May 2010
- Was listed in June 2012 for $3.2 million
- Reduced
- Was listed in April 2018 at $2.199 million
- Currently listed in April 2023 at $2.95 million
- Taxes are now $23,929 (they were $29,859 in 2018 and $37,897 in 2013)
- Central Air
- 4 Decks
- 2 fireplaces
- 2 car heated brick garage with EV charging port and space for 4 cars
- Bedroom #1: 19×15 (third floor)
- Bedroom #2: 18×12 (second floor)
- Bedroom #3: 15×12 (second floor)
- Bedroom #4: 13×13 (second floor)
- Bedroom #5: 10×12 (second floor)
- Bedroom #6: 18×11 (basement)
- Laundry room: 8×10 (second floor)
- Living room: 16×13 (main floor)
- Dining room: 13×13 (main floor)
- Kitchen: 27×18 (main floor)
- Family room: 20×15 (third floor)
- Recreation room: 31×12 (lower level)
- Storage: 17×8 (lower level)
Enormous kitchen with two huge fridge/freezers, 6-burner stove with grill/griddle, double oven, separate warming drawer and…..one – count it – ONE sink. People.People.People.
“Enormous kitchen with two huge fridge/freezers, 6-burner stove with grill/griddle, double oven, separate warming drawer and…..one – count it – ONE sink. People.People.People.”
This can be fixed. Are you saying that the kitchen should be redone?
It’s been on the market for so long, the kitchens and baths look dated. Now that Jenny has mentioned it several times, I now noticed how terrible non-undermounted tubs are. They have to fix it!
Maybe something is up with the sellers? Are they impossible to deal with? Did something happen to them?
I’m not a fan of these massive “statement” staircases. I know it’s by design but they really do take over the space. They give off too much of a commercial vibe (think hotel or community college). And good luck small child proofing it.
Staging and price cuts until someone will take a chance on that very taste specific staircase is the sellers best hope, in my internet poster opinion.
“these massive “statement” staircases”
To the extent they ‘work’ it is when they are not the dominant visual feature of the whole house. If it were tucked into the bay–prominant, but not dominant–it would be so uch better. As it is, it feels a little prison-ish looking from the front to the back fo the main floor.
Anyone know approximately how many agents have cycled through representing this place over 13 years?
I might be one of the only ones who kind of likes the staircase?
I’d like it a lot better if it matched the flooring. The cherry flooring and cabinetry could use a refresh in a medium brown stain to make it more timeless and also to match the staircase. I think it could help the staircase to “fit in” with the house.
The 3D tour shows evidence of tenants with a lot of clutter and a couple of pets inhabiting the place. Not helping the image of this place.
I think the staircase is gorgeous. Unfortunately, kitchen and baths need to be updated to reflect current market. That is probably why it isn’t selling now but who knows what the issue was the past 13 years…
“The 3D tour shows evidence of tenants with a lot of clutter and a couple of pets inhabiting the place. Not helping the image of this place.”
At least someone is living there. I’d be more worried as a buyer if no one had lived there for a decade. Houses decay if not used. Piping, electric etc. has to be used.
At this point, it should be removed from the market and just rented for a few years.
I love the staircase, but it takes up a LOT of space. This place probably lives significantly smaller than 7000 sq ft because of it.
Also, as alluded to in previous chatters, it limits furniture placement and the flow between rooms.
“The 3D tour ”
how do you see this? the only media link I see in the Redfin listing is a video with the place empty.
“how do you see this? the only media link I see in the Redfin listing is a video with the place empty.”
The 3D walkthrough link is on the pictures on Redfin. In the bottom left corner next to the Streetview link.
“The 3D walkthrough link is on the pictures on Redfin. In the bottom left corner next to the Streetview link.”
hmm, maybe they took it down. doesn’t show up for me.
Found the tour on realtor.com
https://www.realtor.com/realestateandhomes-detail/550-W-Oakdale-Ave_Chicago_IL_60657_M76704-48306
Did not notice that there is a window from the master bath to bedroom in the pictures. Not a fan. I prefer to keep all the heat/moisture in the bathroom.
“lives significantly smaller than 7000 sq ft”
As noted in a prior post, it ain’t 7000 sf, even before considering the staircase.
I wouldn’t say anything bad about anyone who loves the staircase, but you have to *love* the staircase to even consider the house.
OPEN HOUSE TODAY 12:30-2.
Did anyone go to the Open House???
Reduced to $2,185,000 and open again this weekend.
Noticed a typo in the post: “April 2023 at $2.95 million”
Missing a 1: $2.195m
$10K price reduction lol. That’s ridiculous at this price point. If they really wanted to get flagged in the mls alerts, might as well just dropped it 1 thousand.
“$10K price reduction lol. That’s ridiculous at this price point. If they really wanted to get flagged in the mls alerts, might as well just dropped it 1 thousand.”
I’ve seen some drop it $1 just to make the “price drop” lists. Lol. So annoying but it actually does work.
“seen some drop it $1”
Then there are the Zaskowski specials, with frequent $100 drops, followed by a 5k or 10k increase and then more $100 drops.