Selling a Vintage Cottage in North Center: 1750 W. Grace
Vintage cottages with curb appeal are rare, especially those with two car garages such as this one at 1750 W. Grace which the listing says was built in 1878.
It has four bedrooms but a few are on the smaller side:
- Bedroom #1: 17 x 15
- Bedroom #2: 11 x 10
- Bedroom #3: 9 x 8
- Bedroom #4: 10 x 9
The livingroom is also small, 14 x 11 (and, sorry, no pictures of the livingroom). The house does have a basement/family room. And, of course, the two car garage.
1750 W. Grace: 4 bedrooms, 2 baths, no square footage listed, 2 car garage
- Sold in May 2006 for $555,000
- Was listed in May 2008 for $669,900
- Reduced
- Currently listed at $649,900
- Taxes of $8498
- Rubloff has the listing
Are those really six identical rugs?
It looks like the six identical rugs are on carpet squares in the basement. Interesting way to finish that floor — double the debris when it floods.
Nice pad. But why is it worth more than 95k more than its 2006 price???
Looks like a very nice house. This location is right next to the Metra tracks, at a point which the trains blow by at full speed, i.e. not near a station; so there’s a question about sound insulation. The lot is zoned R-3, meaning there probably isn’t much developer potential. All of these would impact the price.
Oh my. I mean the basement looks fairly nice. They obviously put money into finishing it. But they couldn’t pay for carpeting? Not even cheap carpet? Buyers notice things like that, no matter how minor they are.
no carpeting could be a sign of water seepage. Or that could be really nasty grey carpeting under the rugs…
For an update, the house is now listed at $598,500… which makes it really the only true four bedroom, two bath house with finished basement and utility room in this North Center, West Lake View area. My friend has the listing and I just did an open house there.
They were crazy to list at $669K originally, but under $600K, this place is a real good deal. I had my wife come look at it this weekend and it would be a perfect move-up house for us from a duplex down condo we are in now.
Most of the windows were replaced since the last listing. There is a three year old tear off roof and newer mechanicals. The location is right around the block from TRADER JOES! and close to both the Addison and Irving Park Brown Line stations.
This house has a great family room in the back of the house which opens to the deck and yard. These are the best attributes of the house and should be pictured (the pictures above are owned by the agent by the way and reproduced here from the MLS hopefully with permission).
The basement does have SIX of the same rugs! However, the floor is a vinyl tile in good shape. Could be easily carpeted. Walk-out dry basement with a large utility room and extra storage room… no water issues, even with all the heavy rain we’ve had over the past two years.
This is really a move-in house in great shape and a great location. It is a bachelor pad and needs just a little paint and decoration/style. The kitchen and baths could use updates, but if they were done already, the price would be alot higher.
The Metra goes by, but you will only notice a couple trains go by in the evening or few on a weekend day (the sound lasts about 9 seconds). The condo building next door blocks some sound. I have no issues with the noise on Ravenswood from the Metra train and would personally own a house on the street if the opportunity was there in the future.
I don’t know a better house for under 600K with a great deck, garage and yard this far east and south… and a couple blocks from transportation… and a half block from TRADER JOES!
Eric,
I don’t know too many bachelors who can afford 600k for a ‘bachelor pad’. The location and finished basement are a plus, but I’d be surprised if this sells for ask. Closer to 500k seems more likely.
Eric:
Thanks for the update on this house.
Isn’t part of the issue with some properties that buyers today don’t want to do updates to kitchens and baths? From what I’m hearing (and seeing) they just want to move in (even if the price appears to be reasonable for the property.)
And they want granite and stainless steel appliances.
Has this seller thought about swapping out the appliances for stainless? I know that sounds funny- but I’ve actually seen buyers swayed just by appliances.
Sabrina… love the site and have meant to link you for… like forever.
They are not my clients, so I do not know what the listing agent and seller’s have discussed.
If this were my house and I planned on selling, I would have simply replaced the materials in the kitchen and baths (no need at the price they bought it at to knock walls down or re-configure). But the owners replaced windows instead… which has made a big difference in the comfort and look of the home too. Maybe they can’t spend the money on renovation or appliances. I don’t know.
In fact, I’ve owned only new conversions and am a little snobby about finishes and construction. But with a kid (and another on the way soon) I would leave the current finishes which are fine at the price and let the kids beat them up… renovate later when they are older.
BOB buddy, you have grossly underestimated the single family home market in this area. $500K is way too low. I hope you’re not the guy who predicted 2109 W Montrose chatted about on this site should sell around 350K… and it sold in 23 days for $440K!
My personal number I’d buy the home for is much higher. It will sell for more than they paid (like $550K in 2005 or so). This is a solid, move-in condition home with plenty of space for a family of four. I think I mentioned I had my wife come by with our kid to look at it (to confirm if my instincts were right). She agreed we could enjoy the house. The family room, deck and yard really open up the house. The four bedrooms and finished basement create huge flexibility in how someone can live in the home.
The issue was the price they went on and now… the interior decor. In this location, people expect a dump under $600K… it’s better than a dump! I was slammed at the open house last week and the listing agent as been busy there since going $598,500.
Again, at the current asking price minus a decent negotiated concession, I’d move right in… wait awhile till the kids were over 5 years old… then swap out kitchen and bath finishes, carpet the downstairs, paint and decorate with our current furniture etc…. The house would sell in a week for $629k!
I’m open this Sunday 9/14/08 at 1750 W Grace from 12p to 3P… come and check it out.
I guess the shill’s wife has to take part in his charades ’cause the baby needs a new pair of shoes?’
It looks like this seller will be losing money.
The questions remain whether it will sell at this price or will they be bringing cash to the closing? Wait, he expects it to sell “minus a decent negotiated concession,” so I guess the seller will bring their checkbook. Or, will that “concession” not be so important to negotiate for a client?
Does the shill even realize his fantasy “plan” for his family here would be a money loser at his numbers?
“In this location, people expect a dump under $600K… it’s better than a dump!”
Maybe it’s just me but it irks me when people talk like this. $600k is a lot of money. Yes it might buy a shack in a neighborhood near a Trader Joe’s but that’s the crazy bubble mentality. A market where $598,000 is considered a good deal for a shack is just so whacked out.
Well, it don’t matter, the current owners are in a bit of hot water anyway. They bought the house for $555,000 in 2006 with:
$417k first from ABN
$82.5k second from TCF
and late last year they borrowed a THIRD
$100,000 from B of A.
No releases were recorded so I don’t believe the $100,000 was a refi of the $82.5k although I wouldn’t bank on that without a title search.
Which, if my math is correct, they have $599.5 in mortgages and an asking price of $598,500……UPSIDE DOWN!!!! God I love America. The streets are paved with gold and then banks lend with reckless abandon.
G,
I forgot to give you credit for pointing out that the seller would need to bring his check book. Again, you were absolutely right. Thank you.
Well, even in the past twelve months, teardowns in the area have been sold for over $500k, so it’s not a crazy price. If it were on the other side of Lincoln, it would have sold by now.
HD–my house currently shows 2 first mortgages as the release didn’t get recorded in connection with a re-fi. It’s not that unusual, as I’m sure you know, to have a failure to record a release, especially when it has been less than a year since closing.
But it could also be a third mortgage to pay for the windows and whatever else. Its been 11 months since the mortgage was signed no release. Me thinks its a 3rd. Real estate only goes up you know.
Hd–it’s been three years since I refi’d with no recorded release.
On this property: (1) you don’t need $100k for windows, (2) they listed in May and put in the new windows AFTER that, (3) 2d mortgage $$ had started to dry up last fall, not to mention 3d mortgage $$. Me thinks you’re letting your cynicism get the better of your rational thought. Not everyone who overpaid for a house is a grifter.
Eric,
We will see on this one whether it sells for more than what they paid for. My guess is not.
If you personally want to buy the home for much higher I’m sure the seller would be happy to work something out with you.
The days of saying ‘500k is way too low’ for admittedly decent properties such as this are over, my friend. Its not 2006 anymore and very few people can actually afford a 450-500k mortgage. Definitely a LOT fewer today than could with crazy financing a couple years ago.
Someone said he doesn’t think bachelor’s live here in a $600K home, well they do. I don’t know if they rent or whatever, but I have often seen a bunch of young guys out there drinking beer and playing that bean bag game. As for other single family homes in the area, yeah they generally are listed at a lot more, but they’re also a lot nicer and I personally think those are overpriced as well.
As for noise, the metra isn’t a problem at all, but if you’re windows are open you will notice the squeaky brown line here and there (which is 100 feet east of the metra tracks).