Someone Wanted to Live Near the Beach: 1056 W. North Shore in Rogers Park
Remember this pretty 3-bedroom, 2200 square foot vintage unit at 1056 W. North Shore that was only “50 feet” from the Beach in Rogers Park? We originally chattered about it in May 2008.
It sold in September.
See the pictures here.
Here’s it’s history again:
Unit #3W: 3 bedrooms, 2 baths, 2200 square feet, 2 car parking
- Sold in October 2004 for $390,000
- Was listed in May 2008 for $450,000
- Reduced
- Was listed in July 2008 for $435,000
- Sold in September 2008 for $430,000
- Assessments of $350 a month
- Taxes of $2,925
- Property has roof rights
That is a really nice unit, although I hate the exposed brick (and Rogers Park).
The funniest thing is the price predictions from the old posts in May 08:
Sale Price: $430K
Laura: $275K max for this
Bob: $350 tops
Kenworthy: $310-$330
Closest without going over wins. 😀
Price Is Right-style appraising, Bob, i like it!
They probably offer it through the realtor asssociation.
If it closed in september the K was signed in july or august before the september/october meltdown.
If the K was signed after the meltdown the price would have been much lower.
the negatoids on this site have to be apoplectic.
“Sale Price: $430K
Laura: $275K max for this
Bob: $350 tops
Kenworthy: $310-$330”
very funny. made my day.
HD – did’n your price estimate predate the september/october meltdown?
paulj,
Glad we could help. Afterall given today’s RE headlines I think today is solidly in the negatoid corner overall.
I think paulj is grasping at straws. I took those estimates to be what they thought it was worth, not what a knife-catcher might pay.
Unless paulj is calling bottom (again,) the verdict is still out on those prices.
I didn’t give a price estimate in the last thread.
“bubbleboi on December 30th, 2008 at 12:41 pm
HD – did’n your price estimate predate the september/october meltdown?”
“
sorry HD – i stand corrected.
there’s a sampling bias though. comparing closing prices to predictions excludes properties (and their predictions) that haven’t closed. I suspect anything that closed recently will have a price significantly different than the “negatoids” predictions. but wait a while and the predictions will get more accurate.
Nice place, for Rogers Park. Hopefully living that close to the beach there won’t be a huge bum problem.
Also hopefully this place has an in unit washer/dryer!
CH – oh yes, that’s it – a sampling bias!
I was only trying to poke fun at those of us on the site who are pretty negative in our housing outlook. That includes me – i was calling the bubble in 2000 and had – so you can guess how wrong i’ve been over the years!
Actually, Rogers Park is stuffed with housing of this quality, and it’s cheap relative to other neighborhoods.
You have no bum problem at the beach. East of Sheridan is the best place to live.
The bums are all on Morse and Howard close to the el.
I am really surprized, though, that this place sold so high, based on what else I see in the area. I thought $275K. But this sold for $430K, a good sign for the area in these times. North Shore is at the south end of Rogers Park, by and large a pretty solid and safe area.
I know most people put their thoughts in the last thread, and this one has been about the closing price, but that place is gorgeous.
So much negativity! Are you people city-dweller wannabees/suburbanites? Many of us have lived & raised families for years in Rogers Park, and would not leave even if Lincoln Park housing dropped to zero! And who said (maybe in the earlier posts) that the beach was full of garbage & glass?!?! But maybe it is better if those lies circulate, it will allow us to enjoy the lake in peace.
Palmolive is 93 Units Sabrina
Hey, I’m just happy I didn’t come in last.
I like how the posters here are never wrong about their predicted selling prices. Comps for a place like this will NEVER sell for $275K again.
I can put a $1.5 million value on it and I’d be right too. Eventually. You just have to wait long enough.
Beautiful place, by the way.
“Eventually. You just have to wait long enough.”
It may not take all that long. This place is back on the market in the red hot, supposedly rebubblified 2013 season. Originally listed at $400, didn’t get any takers and is now down to $390 (the ’04 price). Perhaps Bob’s price was right after all? 😉
Well, still above Bob’s call, but sold again last week for $370k, 15% drop from the ’08 sale (10% lower than the ’04 price). How many bps lower do you think their mortgage was?
On the other hand, taxes have gone from $2925 (per Sabrina) to $5675 (per listing), but maybe without the HO exemption?
Interesting case study in Chicago RE…Sabrina, worth an update post?