Rehabbing a 4-Bedroom Vintage Bungalow in Albany Park: 4701 N. Whipple
Thanks to Roma for pointing out this 4-bedroom bungalow at 4701 N. Whipple in Albany Park which just came on the market.
It was previously bank owned and sold in October 2010.
It has now been rehabbed and the listing says it has an all new kitchen with granite counter tops and stainless steel appliances and a new deck with backyard landscaping.
Built in 1908 on a 28×125 lot, the house has 2 bedrooms on the main level, one large attic bedroom and a bedroom on the lower level.
There is also a family room and bathroom on the lower level.
The house has central air and a 2-car garage.
Located on the edge of Ravenswood Manor and just a few blocks to the Francisco brown line stop, is this a deal for someone who doesn’t want a condo?
Brian Connolly at @Properties has the listing. See more pictures here.
4701 N. Whipple: 4 bedrooms, 2 baths, no square footage listed, 2 car garage
- Sold in July 1988 for $68,500
- Sold in December 2001 for $265,000
- Sold in December 2004 for $325,000
- Lis pendens filed in April 2009
- Bank owned in February 2010
- Originally listed in August 2010 for $279,000
- Reduced
- Sold in October 2010 for $110,000
- Currently listed for $350,000
- Taxes of $4440
- Central Air
- Bedroom #1: 11×10 (main level)
- Bedroom #2: 11×9 (main level)
- Bedroom #3: 25×9 (second level)
- Bedroom #4: 14×10 (lower level)
- Family room: 18×10 (lower level)
Sold comp:
http://www.redfin.com/IL/Chicago/4940-N-Whipple-St-60625/home/13489547
at $307. But much more in the flood zone.
i guess i couldnt be mad if a spent 307k on this place.
I dont see the logic of electric baseboard heating in the basement?
“I dont see the logic of electric baseboard heating in the basement?”
SUPER cheap to install. Heat rises.
Ducting to floor is a non-option. Radiant install too expensive.
I wish Sabrina would post this property: http://www.redfin.com/IL/Chicago/9116-S-Longwood-Dr-60643/home/13099950
I’m thinking it would be more interesting to discuss than pizza.
Well, they got 22 extra feet in the master bedroom somehow (I’m gonna go out on a limb here and say that there wasn’t any reconfiguration)…
http://www.urbanrealestate.com/property/4701-N-Whipple-Chicago-IL-60625-PWYXCEOXEXS2S.html
“I wish Sabrina would post this property”
Groove: be careful with that link–there’s mucho paneling.
Chris, that one will drive Groove crazy
haha, anon, I had the same thought! But Groove will also love the victorian features, so there’s gonna be a lot of mixed emotion there
It’s an intriguing property. Not sure if Groove has ever expressed interest in Beverly, but he should like the price.
no one in the history of this property has ever paid $350,000. i know some lipstick is on this pig but come on.
“no one in the history of this property has ever paid $350,000. i know some lipstick is on this pig but come on.”
Yeah; seller probably has around $200 into it, maybe $225. Unless they replaced *all* the electric and plumbing.
Anyone know if the north branch flooding problems extend south of Lawrence? For that comp I posted, I’d *totally* disregard the basement space for flooding risk. Storage/utility/playroom *only*.
“Anyone know if the north branch flooding problems extend south of Lawrence?”
They did in the ’90s. I owned a house in the 4500 block of St. Louis that got a flooded basement on several of the heaviest storms. Don’t know if there have been any improvements since then.
@Chris M, I love it. But I don’t know much about that part of Beverly. Is it good, bad, safe? I’ll Everyblock it but any additional info would be helpful.
Anon (tfo), how do you know about the potential flooding issues? Genuinely curious, not challenging you — just seems like sellers near the river in RM and RG assume there is some premium.
I’m also interested to hear that the estimate on the rehab of 4701 is as high as you suggest. Wish they’d worked on the kitchen layout some more.
I’d been watching 4940. Rather wish I’d gone to see it. 🙂
“Anon (tfo), how do you know about the potential flooding issues? Genuinely curious, not challenging you — just seems like sellers near the river in RM and RG assume there is some premium.”
Remember 2007 when the North Park football field was almost completely flooded? Yeah, that. Many, many of the garden units in the broader area flooded then, too. Maybe Whipple is just enough higher/further that there’s no problem.
No idea if it’s an issue *at*all* south of Lawrence, which is why I asked.
Bleh.
“@Chris M, I love it. But I don’t know much about that part of Beverly. Is it good, bad, safe? I’ll Everyblock it but any additional info would be helpful.”
Icarus – I looked at buying a house ago in that area a year or two ago. It’s in North Beverly, which seems quieter than the area south of 95th. Kellogg elementary is the attendance area school, which I’ve heard decent things about. Very convenient to the Metra and commute to downtown in less than 30 minutes. I know quite a few well-to-do folks live in the area. There are a couple YoChicago videos of the area: http://www.google.com/search?source=ig&hl=en&rlz=&q=north+beverly&aq=f&aqi=g2g-s1g7&aql=&oq=#q=north+beverly+chicago&hl=en&prmd=ivnsm&source=univ&tbm=vid&tbo=u&sa=X&ei=Zai5TfKaGIOCgAep6q1q&ved=0CCgQqwQ&bav=on.2,or.r_gc.r_pw.&fp=3179303fdaa40906
“SUPER cheap to install. Heat rises.
Ducting to floor is a non-option. Radiant install too expensive.”
My thought is, it doesnt take much to temperature control a basement, and branching off one duct would seem that hard since from the front room pics the ducts are on the bottom.
I dont know how cheap the electric is it put in, if its super cheap then my question is answered.
still this close to the river anything in the basement would have had me concerned this week.
“Groove: be careful with that link–there’s mucho paneling.”
“Chris, that one will drive Groove crazy”
“haha, anon, I had the same thought! But Groove will also love the victorian features, so there’s gonna be a lot of mixed emotion there”
ok still havent looked at the listing, you guy made me afraid.
tell If the good outweighs the bad? then i will.
“I dont know how cheap the electric is it put in, if its super cheap then my question is answered.”
30 or 40 amp double breaker, single pull of conduit, under $100 for the unit.
“Not sure if Groove has ever expressed interest in Beverly, but he should like the price”
I love beverly!!!! had friends over there, to far for us to live. we like to be close to family.
Its been about 4 years since i been out that way and remember then many of the “historic” places and neat old places needed updating bad. I cant imagine now when using a HELOC to up your home is long gone.
[employing jedi mind trick} @Groove, this is not the house you are looking for. You can go about your business. Move along.
Chris M: it looks like it is walkable to the 91st Metra Station. From the pics it looks like they updated the kitchen, but my concern is if the windows have been updated. A Victorian of that size ain’t cheap to heat.
“30 or 40 amp double breaker, single pull of conduit, under $100 for the unit.”
dang cheap. thank you, i now have a idea for the garage!!!
“I dont see the logic of electric baseboard heating in the basement?”
SUPER cheap to install. Heat rises.”
What about electrocution during flooding?
“Ducting to floor is a non-option. Radiant install too expensive.”
I don’t know about that. The biggest cost is usually tearing up the old floor and if you had to do that anyway, it would be a good ROI as people want radiant heat more than nice cabinets these days.
“dang cheap. thank you, i now have a idea for the garage!!!”
Obviously, you can spend more than the hundo and get a better unit, but the cheapies work, too.
These: http://www.hydrosil.com/permanent.html seem to be on the high end and still top out around $400.
“Chris M: it looks like it is walkable to the 91st Metra Station. From the pics it looks like they updated the kitchen, but my concern is if the windows have been updated. A Victorian of that size ain’t cheap to heat.”
Not sure about the windows. I bought a place in Oak Park that has most of the original windows intact…lots of old art glass. They’re a pain, but I’m having them mechanically rebuilt and weatherstripped for $225 each by a guy that specializes in this work. If you have that work done and get a good storm window put in that is sealed, it should be roughly as efficient as a new double pane window aside from being much more attractive. Old windows are built from old growth lumber that, if maintained well, should last the life of the house. Regardless, you lose very little heat through windows–most if lost through the roof.
I know you’re kinda stuck with your condo, but if you want to take a look let me know (I’m interested to see it) and I’ll cut you a check for half the buyer’s agent commission.
“What about electrocution during flooding?”
Ground fault. Should be same risk as a properly installed outlet in a bathroom–not quite none, but close.
“The biggest cost is usually tearing up the old floor and if you had to do that anyway”
Have you priced tearout and replace in an existing basement? And I was presuming hot water, rather than electric, for which you need a boiler. Electric would be easy, but *still* too expensive for *this* reno.
This is the window restoration company I was referring to. Great guy that’s all about saving old windows but only recommending what is necessary (unless you like spending more money to completely restore an old window, which will run you about $750+ per opening depending upon the company you go with).
Here’s the link: http://chicagogreenwindows.com/
@Laura, it may be bleah to you, but to someone it’s an affordable alternative to this Lincoln Square place we chatted about week’s ago
http://cribchatter.com/?p=10267
“I know you’re kinda stuck with your condo, but if you want to take a look let me know (I’m interested to see it) and I’ll cut you a check for half the buyer’s agent commission.”
just to see the place…make an appointment 😀
Agree, Icarus.. nice house for a young family. Clean and move-in ready. A person could do much worse in the SF home market.
“Obviously, you can spend more than the hundo and get a better unit, but the cheapies work, too.”
for garage i will go el cheapo, right now i rock two plugin electric radiator looking things. Would be nice to get that floor space back.
Some good advice here on older windows. We looked at replacing our oversized ones with Marvin architectural or restoring. We decided to restore, before the lead paint certification. Chicago Green Windows is a good outfit from what I know, though we did not use them. I don’t really agree with poo pooing double paned windows since a new sash isn’t that big of a deal, but I do agree that aluminum cladding / coiling should be avoided. Repairing wood rot is very simple and effective and painted wood looks a lot better than the white aluminum crap. It is also more energy efficient.
Chris nice link to the window guy, i bookmarked it.
I know on my house we had the old school wood and huge wood storm windows. The pain in the ass it was twice a year to take down/put in the, i swear they felt like 50lbs, storm windows in each window. and if in the winter you wanted fresh air the only way was to leave the doors open.
I am so glad i put in the vinyl wood clad ugly things. they dont look as nice but the function and energy savings is well worth the aesthetics
I also highly recommend TMC Windows: http://www.tmcwindows.com/
I met with the owner, Tim Murphy, when looking at an old rowhouse in Hyde Park. Very knowledgeable and big supporter of restoring the old windows. Price was reasonable, too. Both companies are very busy, though, so you usually need to book months in advance.
Groove – Chicago Green Windows has developed a custom wood storm/screen that you can leave in place. They usually construct their custom screens and storms from cypress, a durable rot resistant wood.
Here’s the link to that storm/screen combo. Some photos of them…they look like they’re original after being painted http://chicagogreenwindows.com/case-studies/a-storm-in-any-port/
“just to see the place…make an appointment”
Poor choice of words. But you get my drift.
“Groove – Chicago Green Windows has developed a custom wood storm/screen that you can leave in place. They usually construct their custom screens and storms from cypress, a durable rot resistant wood”
looks like i didnt do my research, but i dont think they were around when i did my windows. but after the third spring at my house i dropped two huge storm windows off the ladder and got fed up, so to say i hastily picked a window guy and style of windows.
Putting in electric heat may be cheap but your electric bills can get really high
That is what I thought. Anyone knows what the numbers are like comparative to central gas heating?
“Putting in electric heat may be cheap but your electric bills can get really high”
“Putting in electric heat may be cheap but your electric bills can get really high”
Of course, but it also depends how you use the basement. Wouldn’t do it except in that sort of situation, or Groove’s, or an enclosed porch–to have some heat in a single room-type space.
or if you are a flipper and you want cheap initial investment and don’t really care about long-term costs (and hope your buyer doesn’t mind/notice)
Chris M, I’ll think about it. how do i get in touch with you off-CC?
“or if you are a flipper ”
Which, b/c it’s true, is why I excluded ducting and radiant.
Icarus – Best way to reach me is chris@312agent.com
“Have you priced tearout and replace in an existing basement? And I was presuming hot water, rather than electric, for which you need a boiler. Electric would be easy, but *still* too expensive for *this* reno.”
Depending on size/use you can get away with a Hot water heater
Probably still want baseboard heat for a bump on cold days
The relative cost of various basement heating options depends to a great extent on how well insulated the basement is. Well insulated basements don’t need much added heat to be comfortable. Insulating under the finish floor makes a big difference in perceived comfort as well.
The fact that this is a corner lot subtracts some value, in my opinion.
Good luck on this one flippers – I see $300 max
“Good luck on this one flippers – I see $300 max”
I stand by my guess that they’ll do okay IRR-wise if they sell at even $300k in the relatively near future.