Selling Under the 2006 Price: 925 W. Fullerton in Lincoln Park
If you bought within the last 2-years and have to sell now, it’s tough to make any profit.
Just ask the sellers of this 1890s home at 925 W. Fullerton in a landmark district in Lincoln Park. It is listed for $86,000 less than the 2006 purchase price.
Is the lack of parking hurting this home? (Apparently, you can park somewhere nearby- but it doesn’t appear to actually have parking with the house.)
Here’s the listing:
Restored By A Well Known Architect, This Bright & Spacious Historic Home Combines Comtemp Amenities W/Beautiful Vint Feat & Includes A Full Inlaw Or Guest Apt On The Lil. Off-st Pk For 2 Cars Plus Guest Pk Is Also Incl.
This Landmark Home Is Part Of The Seminary Th Community & Is Adjacent To A Private Pk. Ex Schools & Trans Are Nearby. A Great House In A Great Chicago Area!
Louisa McPharlin at Coldwell Banker has the listing. See more pictures and a virtual tour here.
925 W. Fullerton: 5 bedrooms, 3.5 baths, no square footage listed
- Sold in February 1996 for $389,000
- Sold in October 2001 for $850,000
- Sold in June 2006 for $1,082,150
- Originally listed in February 2008 for $1.25 million
- Reduced several times
- Was listed in June 2008 at $1.099 million
- Reduced
- Currently listed at $996,000
- Taxes of $16,830
- Central air
No parking and sits on top of the el? Why why why?
The listing says that it has off- street parking for 2 cars…
Not being a Chicagoan my entire life can someone define off street parking for me. Are those what you call those alleyways I always sneak into for a puff?
“off street parking”
is parking located not on the street–as in, somewhere to park which does not include parallel parking on a public street. It can be in a parking lot, a public (or semi-public) garage, a private garage, under the el, a carport (i.e. under a cover, but no walls), on a patch of gravel, whatever. Basically, somewhere to put your car where it won’t get a ticket on street cleaning day.
anon.. thanks I never understood who had rights to those alleyways behind the houses. We didn’t have those things in Manhattan.
“rights to those alleyways”
The alley itself is city property–a sidestreet to access one’s property, whether used for parking or whatever. (The land under the el has sort of varied use, tho it is all (technically) CTA property.) However they are use, the alleys do manage to keep the sidewalks from being the city’s garbage can.
see what i said about pricing high and chasing the market down?? this would probably have sold back in February 2008 at its current asking price… but now, they’d be happy just to sell it above 2001 prices.
the cascading effect of falling prices is only 1/2 way over IMO (in terms of price drop, not in terms of time), so if you need to sell, get out while you still can…
here’s to hoping that 2002-2003 prices mark the bottom.
“this would probably have sold back in February 2008 at its current asking price”
Hell, it probably would have sold for their purchase price. But they wanted to come out whole, so now they’re stucj in a hole.
Yep… that’s why my ass wasn’t waiting around the 90 days SH suggested to see where market is. The market is not stable and it can only move sideways or down at this point in time.
I’ve always wondered what the insides of these places looked like. Heh – $389Gs in 1996, eh…?
At that price, (the $389G) it’s practically a reasonable buy-to-let college dorm price — which is pretty much what you’re buying here, as it’s bang acroos the alleyway from DePaul’s Cockroach Hall (Corcoran Hall), the *cheapest* and least-desirable option for student on-campus living (or at least it was in 1995 – ~ $1K/month per student – when I was attending), which means:
-lots of the much-hated *hipster* types throwing huge “floor-parties” (and No, you’re Not Invited, but you can feel free to hear it all from across the way…!);
-plenty of screaming out of the windows;
-gratuitous amounts of up-to-the-minute music blasting from *iPod-friendly* stereos (set to “10” for maximum effect);
-the occasional alleyway barf;
-students & friends parking their cars “whereever”: in the alleyway, the adjoining cul-de-sac, the side-streets, double-parked, triple-parked, etc.
Hey…! This brings back memories…!
Gosh, all this for just under a $1 million bucks, now, huh…?
Backyard is pretty pathetic looking at a hideous 4+1. Not as fabulous as I expected those homes to be from the street.
This home is located in the McCormick Seminary Row Homes. The homes in the complex are located on Fullerton, Belden and Chalmers Place (an internal street between the two). None have garages, but there is 24 hour permit restricted parking within the compex directly behind each of the homes. It is not ideal, but much better than parking on the street.