Southport 2/2 Now $24,500 Under the 2001 Price: 3705 N. Paulina
We last chattered about this top floor 2 bedroom at 3705 N. Paulina in the Southport neighborhood of Lakeview in October 2011.
See our prior chatter here.
Many of you thought it was overpriced and would sell under $300,000 but some of you thought the neighborhood was great and that it would still sell for north of $300,000, especially since it had the parking space.
Since our last chatter, it has been reduced $15,000 to $334,500.
If you recall, the unit has a lot of the features that buyers look for including central air, in-unit washer/dryer and garage parking.
The unit also has a large east facing deck that overlooks the trees.
The kitchen has maple cabinets, stainless steel appliances and granite counter tops.
The listing also says its in the coveted Blaine school district.
Will this one finally find a buyer in this “hot” spring market at this new price point?
Mitch Gordon at Baird & Warner still has the listing. See more pictures here.
Unit #3: 2 bedrooms, 2 baths, 1400 square feet
- Sold in April 2001 for $359,000
- Sold in September 2005 for $372,500
- Originally listed in September 2011 for $349,500
- Reduced
- Currently listed at $334,500
- Assessments of $192 a month
- Taxes of $5693
- Central Air
- Washer/Dryer in the unit
- Garage parking included
- Bedroom #1: 13×10
- Bedroom #2: 13×9
Something does not compute here, why hasn’t intrepid Mitch Gordon replaced that photo of the old deck that just got powerwashed in the fall?
I am joking, I like this unit. I am surprised that it hasn’t sold, in no small part because it is in Blaine and a nice spot. It will probably sell this spring.
“Something does not compute here, why hasn’t intrepid Mitch Gordon replaced that photo of the old deck that just got powerwashed in the fall?”
I know. I thought the same thing. But don’t gang up on Mitch too much. He was nice enough to join in on our chatter last October.
the good ol days when people would rent something this small to save up to buy a real home
also the red leather couch thing is sooooooo 1999
Given 05 price is so close to 01 price perhaps someone paid too much in 01 and we shouldn’t be anchoring to that price??
I guess the western boundary of Southport neighborhood is the Metra tracks and not Ashland? (I’d tend to agree with that.)
7:48 a.m.? (CC hasn’t updated to daylight savings time)
“7:48 a.m.? (CC hasn’t updated to daylight savings time)”
it never has, the three years i have been on this site bri bri never abides by the gubment enforced time change.
keep it real bri bri and stick to the man
As someone with kids let me assure you that families aren’t interested in 2/2s.
helmethofer–i’m still not sure what they call the area bounded on the s by Diversey, n by Addison, e by Ashland and w by the tracks. is it one area or two separated by Belmont & what is it/are they called??
I was going to replace the picture to show the deck power washing that was done, but I really like the trees and light in the original photo. It really shows what a nice outdoor space it is. But if you think that this is holding back selling the condo, I will walk over there night now and take a new picture.
“As someone with kids let me assure you that families aren’t interested in 2/2s.”
I’ve grown less inclined to purchase a place based on it having a great attendance area elem school (I did so, and will do so again, but only as a backup; which, given the long odds of private school admission, isn’t exactly a “backup”). But I would think (or hope) that there are plenty of childless couples who would value the “Blaine factor” because they might up having a child while living in their 2/2 (i.e., in the event they’re unable or unwilling to move when the kid hits school age, it won’t be the end of the world).
“i’m still not sure what they call the area bounded on the s by Diversey, n by Addison, e by Ashland and w by the tracks. is it one area or two separated by Belmont & what is it/are they called??”
I think of it as West Lake View, given that it is within the Community Area of Lake View, and on the western edge.
That, or East NorthCostCo south of Belmont, East East Roscoe Village from Belmont to Addison and South Graceland West from Addison to IPR.
Surprised this hasnt sold
“But I would think (or hope) that there are plenty of childless couples who would value the “Blaine factor” because they might up having a child while living in their 2/2 (i.e., in the event they’re unable or unwilling to move when the kid hits school age, it won’t be the end of the world).”
That’s a perfectly reasonable thought, but very 2005. While “not the end of the world,” there are lots of new families dying to flee their 2/2s for bigger spaces but don’t have the ability to bring $25-$50K cash to a closing. The next batch of youth is going to see this, wise up, and skip the starter condo step. Frankly, I think this is a major reason why the Chicago McCondo bust is going to last a loooong time.
so let’s start a talk about unicorn criteria….what do you have to add to the list?
http://www.mysteries-of-life.com/2012/03/unicorn-criteria.html
I can’t imagine someone with school age kids living here, so the school part is moot. The small association would be a huge concern. These buildings should have stayed apartments, with the owner possibly living in one of the units.
Nice top floor unit with great light on a good street. I imagine this sells soon.
IMO school is very important in Chicago…. I know a fair amount of single parents (by divorce or choice, etc) that opt for 2/2 condos in a good school district. I also know several childless couples who will only look at units within a good school boundary.
@Jenny….I am guessing you don’t have children or plan to? This is a very feasible place to live with a school age child. Not everyone can afford a SFH in a great neighborhood/school district and there’s plenty of people who actually enjoy condo living.
“The next batch of youth is going to see this, wise up, and skip the starter condo step. Frankly, I think this is a major reason why the Chicago McCondo bust is going to last a loooong time.”
you tell it brother!!!!!
the 2/2 condo scam, YES IT IS A HUGE SCAM, has been called on its bluff. the sad fact is many will wise up to it but not enough for the scam to vanish.
this place will sell close to ask say 5-7% off list, mark my words, but its a sad realization the people still believe the hype of the 2/2 and will end up accidental landlords 3-5 years later.
“Icarus (March 13, 2012, 9:26 am)
so let’s start a talk about unicorn criteria….what do you have to add to the list?”
Icarus, please add a new camera to your unicorn list. my old palm pilot took better pics.
Icarus, you note on your blog that your Unicorn Criteria call for space to accommodate “a future wife’s car and our bicycles.” You’re looking for a SFH (and blogging about marriage), but you’re single?
Anonny, that note is from August 2010, when i was unmarried, though marriage was on the roadmap. I’m surprised you missed that Dectective Detail.
Groove, are you sure the problem isn’t your monitor or between your chair and the monitor?
” I’m surprised you missed that Dectective Detail.”
just feel honored that you were communicated with… 🙂
“what do you have to add to the list”
Well, it’s your list. Still, good public elem is not on the list? If you required good elem plus walkability (not clear if that is truly on the list) plus blue line proxim, and within what I understand your budget to be, you may have passed beyond unicorn territory. (Especially when you want both basement and attic potential.)
Also, what’s your fireplace to tv use ratio? If less than 1 percent, drop the fireplace requirement.
“Groove, are you sure the problem isn’t your monitor or between your chair and the monitor?”
my HP keyboard highly takes offense to that remark 😉
hey anyone wanna know my unicorn list?
Good location, top floor, parking space, decent rehab, nice-looking building, deck. I say it goes north of 300.
“may have passed beyond unicorn territory” are we talking Centaurs, dragons or Sphinx? Found a house that had the basics and potential for walkability and good schools (by the time we have children) but the owner believes he can ride out the market until it mirrors 2005 prices.
we use the fire place quite a lot in the winter and we also don’t watch a ton of TV so the ratio is good.
“Groove, are you sure the problem isn’t your monitor or between your chair and the monitor?”
“my HP keyboard highly takes offense to that remark”
I think Icarus forgot to switch out of surly tech support mode.
“hey anyone wanna know my unicorn list?”
Please post! (Or maybe you could guest post on Icarus’s blog.) I can’t reveal mine b/c it will be sure to get me committed.
“potential for walkability and good schools”
And blue line? Where(ish)? I find it a little hard to believe.
“hey anyone wanna know my unicorn list?”
Yes please.
” I can’t reveal mine b/c it will be sure to get me committed.”
oh come on now, either here or guest post on my blog. It can’t be any more crazy than mine.
“hey anyone wanna know my unicorn list?”
Hot neighbor who likes keeping her blinds up and walks around naked??
“The next batch of youth is going to see this, wise up, and skip the starter condo step. Frankly, I think this is a major reason why the Chicago McCondo bust is going to last a loooong time.”
So, what I see in the future is that SFH in the neighborhood will continue to be stratospheric; and those priced out will move to the suburbs and get a good deal. ah the cycle of life continues.
My bet is anon would have the most absurd criteria. Like 400 pages long.
I like places like this but do agree with those who say it makes more sense as a rental. These small associations could be an issue, and I wouldn’t want to have to deal with that. I also prefer to be closer to the lake and in a high rise. But this place could be perfect for someone.
bonus points of decent assessments and close to the brown line..the small associations don’t bother me much, as I would never want to live in a mass high rise with sky high assessments
“My bet is anon would have the most absurd criteria. Like 400 pages long.”
To move? Perhaps. List was not long when we bought.
But it would be the exceptions list that might include 12,000 line items. Of course, at least 7,000 of those would be “not too close to [Person X]”.
“Hot neighbor who likes keeping her blinds up and walks around naked??”
can always find better on the internet in hi-def and without the chance of getting a label of “pervy neighbor guy”
This is fun, tell away your criteria.
“It can’t be any more crazy than mine.”
It’s both crazier (in terms of the specific items, though maybe not if I get to recast my criteria as “exceptions”) and more realistic (in that such a house may actually exist or could be built/rehabbed).
Pervy? Nothing pervy about looking at a hot naked neighbor who keeps the blinds up. In fact, if a straight guy is not looking then there is a chance he is a pervert.
“can always find better on the internet in hi-def and without the chance of getting a label of “pervy neighbor guy”
1. one on the list is Double lot (if not bigger)
2. must have a nice front porch (either existing or built to fit)
3. walking distance to elementary, no crossing major streets
4. great park in walking or short bike ride distance
5. living, dining, kitchen all separate (or at minimum only two of the three joining)
6. a good climbing tree in the back yard
7. not in oakbrook
see very simple
“Pervy? Nothing pervy about looking at a hot naked neighbor who keeps the blinds up. In fact, if a straight guy is not looking then there is a chance he is a pervert.”
Ha, this coming from the same person that refuses to send me pictures of herself dressed up in a Japanese school girl outfit! You are all talk!!
“and more realistic (in that such a house may actually exist or could be built/rehabbed).”
are you once again dissin’ on my idea to extend a heliport from my balcony and paint the Fantastic Four symbol on it?
My unicorn criteria would have to include a house near a tortoise sanctuary and away from bikes, skateboards, and people who dribble basketballs while walking about. I would also rather not live near someone with a molester van and parks it outside in the same spot every day.
1. Open floor plan.
2. Floor to ceiling windows
3. Nice views (I prefer city views)
4. Good walkability and public transportation options
5. Parking to buy
6. As this is a in town, I like to come to a warm place so has to share walls with other units for it not to be too cold when one arrives home.
7. Good closet space
8. Gym
9. No carpet (if only in the bedrooms, I might compromise)
10. Pool (not critical)
Dude, you are twisting the argument.
See Ze, I never claimed I would walk around with the blinds up. All I said was that I for sure would not call a man looking at the aforementioned scene a pervert.
“Ha, this coming from the same person that refuses to send me pictures of herself dressed up in a Japanese school girl outfit! You are all talk!!”
stop being a tease, share or shut up (and thus stop taunting the others)
“It’s both crazier (in terms of the specific items, though maybe not if I get to recast my criteria as “exceptions”) and more realistic (in that such a house may actually exist or could be built/rehabbed).”
This IS a good school district – Hamilton and St. Andrew’s for public elementary, then a mile or so down the road for Lane and Gordon for HS. Or maybe Lake View High which is on the upswing according to local media.
Today’s couples are opting for one or two children, or none at all. By that standard a two-bedroom home should be workable for many.
If a fat old man was walking around naked with the blinds open, I would call him a perv. I wouldn’t call a guy a perv for looking at a woman doing the same thing. Although, if he uses binoculars (or any other vision enhancement tools besides eye glasses), he would be a perv.
” I for sure would not call a man looking at the aforementioned scene a pervert.”
Even if he’s using a telescope?
My criteria is easy.
1- Must have permanent views.
2- No one can have visual sight lines into my residence.
3- Must have gas to kitchen
4- Location should be maximum distance in all directions from any poor people.
5- Sizable enough to walk around in so that I don’t feel closed in.
Any violation of these are non-starters
“a good climbing tree in the back yard”
I will concede craziness to groove. I have a tree requirement, but it’s only for a mature tree in front providing good treescape for front bedroom.
“stop being a tease, share or shut up (and thus stop taunting the others)”
Well, I’ve bowed out to Groove in the craziness competition. Happy to tell you more offline, but won’t do it here as the full list would easily identify whatever house I will (hopefully) buy.
“Even if he’s using a telescope?”
If your neighbor was an early 80’s Melanie Griffith in “Body Double” you get a free pass on the scope.
Gringo – what do you consider poor?
listen to you folks, you and your lists. Your crazy lists. All these ‘must have’ things. There is no perfect house and you must be prepared to make sacrifices to fit your budget. that might be a busier street, or lack of a yard, or an older house that needs work, or a smaller house without a finished basement or a crappy school. ONly the 1% in Oak Brook truly get it all.
“St. Andrew’s for public elementary”
Since when? If you buy this place, you can send your kid(s) to St Andrews for NO tuition or fees?
“a mile or so down the road for Lane … for HS”
Tier 4 area, so your hypothetical 8th grader looking to go to Lane next year would have had to have earned As in 7th grade and scored 90%+ on isats and admission test. Hardly the “neighborhood” option.
“a mile or so down the road for Gordon for HS”
See above for question about St Andrews.
” ONly the 1% in Oak Brook truly get it all.”
That’s one (well, actually, at least 2) of my exclusions.
“There is no perfect house and you must be prepared to make sacrifices to fit your budget. ”
Agreed, with perfect = budget raised to infinity.
“that might be a busier street, or lack of a yard, or an older house that needs work, or a smaller house without a finished basement or a crappy school. ”
True again. That doesn’t mean you have to settle for the small house with no backyard or basement that needs a ton of work in a crappy school system.
I second miumiu’s unicorn criteria.
This is not Southport, it is North Center ‘hood.
[‘Nabe’ is trendy slang.]
“This is not Southport, it is North Center ‘hood”
No, it ain’t. It’s Lake View. East of the tracks.
“Gringo – what do you consider poor?”
It’s not a $ criteria, more of a feel safe criteria. I hate people that shit on their own neighborhood. Make me feel unsafe, even worse.
whew.. was hard not to respond.. people that have to live in regular Greenwich.
It’s Lake View.
you forgot 6 ze – must be a “beetlejuice” house
I wonder what the self dialog is of people who just throw garbage on the streets, making their own neighborhoods literally look trashy.
Groove, as your sole geographic criterion appears to be “not in Oak Brook,” why limit yourself to the city?
“I wonder what the self dialog is of people who just throw garbage on the streets, making their own neighborhoods literally look trashy.”
Honest to god, they are thinking that they are job creators *(I’ve heard that phrase from the horses mouth many times before)
btw Sonies.. everything I have seen since we had the TNX bet strengthens my convictions that rates are heading higher. 2.8 or so, but should struggle at 2.4 first. Win or lose, my Clio insults are ready!
They just quite frankly, don’t give a shit. It’s that simple. They don’t give a shit that they litter, or that they make a mess, or even care. Just like some people don’t give a shit about their lawns, or their cars, it’s the same. They literally just don’t give a shit, and they don’t give a shit that other people care about it.
“jenny (March 13, 2012, 12:57 pm)
I wonder what the self dialog is of people who just throw garbage on the streets, making their own neighborhoods literally look trashy.”
“They literally just don’t give a shit, and they don’t give a shit that other people care about it.”
I think some think it is funny. Always amazed me when a favela dweller would be crossing Michigan Avenue, garbage cans on both corners, but gotsta throw that wrapper right in the middle of the street.
Then when you say something you get that “look”.
April should be a VERY interesting month in the markets Ze, what was our bet, 1.75 before 2.25? looks like I might be losing that one, although the rates are in an extremely narrow and slow uptrend which most of the time fails to support itself upon some crisis, like euro/china/whatever troubles, we shall see, either way I’m enjoying life! Nice weather today has got me in a great mood!
It’s gangsta to just not give a fuck.
Nihilism is pretty cool, man
1.5 vs 2.5. Funny for me this is second time in a while i am negative the same asset class in the U.S. that I am like here.
Yeah, I think you may be in for a few good years. Mazel Tov!
“Groove, as your sole geographic criterion appears to be “not in Oak Brook,” why limit yourself to the city?”
never really have limited, we were looking in keniworth, riverforest (a few in oak park), mt prospect.
but when you consider insanely high taxes that AINT going down the city gives you the best bang for the buck now and near future
@ anon and Jenny, lol… the telescope is an interesting case. I think I would rate the guy as desperate borderline a perv…hehe
“jenny (March 13, 2012, 12:57 pm)
I wonder what the self dialog is of people who just throw garbage on the streets, making their own neighborhoods literally look trashy.”
It’s the same as people who don’t like kids – they’re selfish and are only caught up in themselves.
@Anon – oops,my bad, meant St. Andrew’s as an “elementary” option if the family’s into private schools; same for Gordon Tech.
And, frankly, I imagine that a family investing this kind of money in this kind of neighborhood WOULD be encouraging their offspring to achieve the kind of grades to qualify for Lane.
“And, frankly, I imagine that a family investing this kind of money in this kind of neighborhood WOULD be encouraging their offspring to achieve the kind of grades to qualify for Lane.”
I think that you should talk to the parents of some current 8th graders to see if “encouragement” is sufficient.
“It’s the same as people who don’t like kids – they’re selfish and are only caught up in themselves.”
Selfish? My god those things are annoying. Cute but nonetheless annoying. When they do that kid scream, I want to just run. And then when they turn teens.. oh the fun! How all my friends rush home to deal with todays new problem.
GZ: what you fail to realize is the sole existential purpose of life is to reproduce; and those who reproduce the most win. Their DNA lives on forever long after they’re dead.
“Their DNA lives on forever long after they’re dead.”
Does not compute for me…There is no win once I am dead. My win is thoroughly trying to enjoy life while I am alive.
“GZ: what you fail to realize is the sole existential purpose of life is to reproduce; and those who reproduce the most win.”
ok bro you have your wife crank out 10 kids and “win at life” thanks for doing the dirty work the rest of us don’t want to do
lol…CC is full of folks with absolute opinions. Kids definitely ruin some aspects of life and bring some other types of enjoyment. Depending on what you value more, it might make your life better or worse.
That being said I find the joy in knowing your DNA will be around somewhat farfetched. Ain’t like you’d be around to watch its propagation. Also your kids might not reproduce.
I used to think people with kids are self righteous before I had a kid and sorry to say, I still am of the same opinion. There are many people that are happy without kids and then there are those who find not being able to have kids as the worst possible thing that can happen to them.
“ok bro you have your wife crank out 10 kids and “win at life” thanks for doing the dirty work the rest of us don’t want to do”
It was just a joke about how jenny hates kids. No need to rehash the discussion again.
Bite me JJJ.
“Southport neighborhood” you got to be kidding! Other than completely exaggerating its location, I like the unit.
By the way- for those complaining that crib chatter didn’t change over to the new time- Groove is right that the site has always done that (but that was with my old software.)
With the new software I was just able to change it over. I think I did it right so the posting times should be correct now.
🙂
“1. one on the list is Double lot (if not bigger)
2. must have a nice front porch (either existing or built to fit)
3. walking distance to elementary, no crossing major streets
4. great park in walking or short bike ride distance
5. living, dining, kitchen all separate (or at minimum only two of the three joining)
6. a good climbing tree in the back yard
7. not in oakbrook”
How’s this? Okay, no porch but wasn’t the front converted from something porchlike? And you could prob walk to an elem w/o crossing major street (maybe not your elem, and maybe not a good one, but I’d bet you could get in). Most importantly, it’s got a climbing tree and not in OB.
http://www.redfin.com/IL/Chicago/4036-N-Central-Park-Ave-60618/home/13484267
Good find DZ, especially since the MLS doesn’t really codify things like climbing tree and porches.
Groove, does it have to be a double lot or would an oversized lot suffice? We would like a double lot as well but realize that might be one of the sacrifices so we hope to get something that at least isn’t right up against another home on both sides.
“How’s this? Okay, no porch but wasn’t the front converted from something porchlike? And you could prob walk to an elem w/o crossing major street (maybe not your elem, and maybe not a good one, but I’d bet you could get in). Most importantly, it’s got a climbing tree and not in OB.”
sorry got to pass on the hood not a fan of Irving or OIP, personally dont like it. and would never pay over 250k to live there
kudos for the link as it did get close.
“Groove, does it have to be a double lot or would an oversized lot suffice? We would like a double lot as well but realize that might be one of the sacrifices so we hope to get something that at least isn’t right up against another home on both sides.”
i would preffer a tripple wide 75′ but for the perfect place i could except a 35′