The 1-Bedroom Vintage Roscoe Village Cottage: 1921 W. Newport
Ever want to own a quaint vintage cottage in Roscoe Village?
Nows your chance. This 1-bedroom cottage built in 1893 at 1921 W. Newport just came on the market.
It is built on a standard 25×125 Chicago lot and has a 2-car garage.
But the house only has one bedroom measuring 7×13.
The listing does point out that there is an interior stair to the attic with a 12′ peak & 7′ knee walls. The attic measures 19×33. The listing says it’s possible to add two bedrooms and a bathroom.
There is also an unfinished basement which leads out to the backyard.
The house has a fireplace and hardwood floors on the main level.
Is this a good condo alternative for someone who wants the privacy of their own home?
Maureen Moran at Prudential Rubloff has the listing. See the pictures here.
1921 W. Newport: 1 bedroom, 1 bath, no square footage listed, 2 car garage
- I couldn’t find an original sales price but sometime before 1990
- Currently listed for $450,000
- Taxes of $3608
- Central Air
- Wood burning fireplace
- Bedroom: 7×13
- Attic: 19×33
Allow me to translate:
She says: “Roscoe Village single family ready to be turned into your dream home on beautiful tree lined street. Main floor has many vintage details and trim in tact, including built in hutch. Some modifications have been made over time, so main floor has a great floor plan. Interior stair to attic which has 7′ knee walls, and a 12′ peak. Dormer up, and add two more bedrooms plus a bath or two. Home also features a high, clean, dry & full basement with access to yard. Lush landscaping and a 2 car garage. Great block, great bones-will make a great home! Easy access to 90/94, short walk to CTA/Brown Line at Paulina and Roscoe, John’s Place, Pizza Bella & more!”
= Value is in the land.
= Tear Down.
I like this. Get it closer to $400k and I think it makes a lot of sense. Spend some money in that attic — don’t get too ambitious, just a larger bedroom and another bathroom — and I think you have a nice little house in a nice neighborhood. If I was interested in this neighborhood I would be looking at it this weekend. Good for a couple with no kids. Even for couples with a kid (or plans) it makes a lot more sense than a 2 bedroom condo at the same price.
You know how us chicks like cute and small… But, I think too pricey. What’s land value here?
“What’s land value here?”
Not a lot of teardown/vacant activity lately. If I lived next door, I’d be happy to pay $250k for the sideyard, but I don’t think that I could keep it away from a land speculator for that. Maybe $300-350, with some downside risk.
7×13 bedroom? how do you even fit a queen size bed in there?
This would be an interesting condo substitution option at maybe 300k, but nearly half a million for this? keep freakin dreaming… its a one bedroom house and a crappy one at that
this owner missed his opertunity, this would have sold in a minute back in 2007; and we’d have another ugly McMansion going into pre-foreclosure.
Well played, Tom…well played
“If I lived next door, I’d be happy to pay $250k for the sideyard”
do what squareD or was it skeptic parents/uncle/cousin did (i cant recall the exact story) but split the lot between each house on the side no each only will have to pay 200k for some good old yard and grass 🙂
“skeptic parents/uncle/cousin did (i cant recall the exact story) but split the lot between each house on the side no each only will have to pay 200k for some good old yard and grass :)”
very good friend of mine, her mom did that – 3400 block of N Jensen, I think. got – seriously – $900K last year for a standard lot thanks to two mega-rich people on either side.
I actually think this is pretty nice, I’ll be surprised if it goes for much less than ask – maybe $415 – $425K.
This is absolutely not a tear down in a sane market.
“do what squareD or was it skeptic parents/uncle/cousin did (i cant recall the exact story) but split the lot between each house on the side no each only will have to pay 200k for some good old yard and grass”
No, I want the whole damn thing for myself. And, neither of my 2-away neighbors would be up for it–one of their house would be the prime target on the block when they die.
Compare to something like this, which went under contract very quickly at near ask price. http://www.redfin.com/IL/Chicago/1307-W-Winona-St-60640/home/13399219
The Roscoe Village house is smaller, but it has a full lot and a garage. I think there is a market for these smaller houses. There’s not many of them left AND people are wisely realizing that a small house in a good location is a better choice than a 2/2 with granite in that same location.
$450k is a bit nuts. But what this does have going for it is that it’s actually kinda nice now. Seems like these cottage rehab projects are usually pretty hideous inside, so you have to rehab the first floor and then do the dormers. This one looks like a nice enough living room and modern enough kitchen. So you could theoretically buy it now, live in it for awhile, then rehab when the kids get closer to showing up.
But only if it were more like 380k-400k.
Seem to recall a one story condo on bell going for about 300 a while back. not sure why this gets 150 more.
“Seem to recall a one story condo on bell going for about 300 a while back. not sure why this gets 150 more.”
That’s easy:
1. It’s a single family home.
2. It has a full lot.
3. It has a two car garage.
4. It’s a single family home.
“No, I want the whole damn thing for myself. And, neither of my 2-away neighbors would be up for it–one of their house would be the prime target on the block when they die”
Might be a good episode for Law and Order, who killed the neighbor for the land to have a yard? was it the owners on the left, or owners on the right? Or was it board president alderman Banks so he can get it rezoned for his nephew Sergio & Banks?
oops, typo. mean to say seem to recall a one story COTTAGE, not condo.
———
That’s easy:
1. It’s a single family home.
2. It has a full lot.
3. It has a two car garage.
4. It’s a single family home.
““Seem to recall a one story condo on bell going for about 300 a while back. not sure why this gets 150 more.”
That’s easy:
1. It’s a single family home.
2. It has a full lot.
3. It has a two car garage.
4. It’s a single family home.”
You forgot 5-10: It has a full lot.
There was a 2/1 condo at School/Bell that sold for $276 in the fall. No parking. If one said that the living space here was worth the same amount, call the garage worth $24k, the lot *has to* be worth $150k, doesn’t it?
If one said the improvements
350kish
its only a 25 x 78 lot
my bad; wrong listing
“do what squareD or was it skeptic parents/uncle/cousin did (i cant recall the exact story) but split the lot between each house on the side no each only will have to pay 200k for some good old yard and grass”
No, I want the whole damn thing for myself.”
Oh yeah I’m w/you Anon– I would not share my double lot w/anyone (other than my bbq guests). . . and Groove I have to note I don’t hear you talking about selling half your double either! (Though I assume it’s prolly not configured for that).
This place. . . as much as I’m usually all for taking the SF over the Condo, and am far less averse to cottages than many here, I do not see it here. Sure, you could add 2 those beds and another bath. . . but that’s a solid six figure investment in a $450k cottage. Does not compute to me above $400k. . .
. . . but I do note it is only a couple blocks from the L– rare in RV or NC, and would be a positive factor to the young professional / DINK couple looking at this place.
“mean to say seem to recall a one story COTTAGE, not condo.”
3336 Bell? for $290k? Apparently w/o being listed for sale? Something’s funky there.
This one
http://www.redfin.com/IL/Chicago/3256-N-Hoyne-Ave-60618/home/13386966
Might be the better example, tho the location isn’t quite as nice as the Bell one or the posted one. Sold for $330, after listing for $369,900.
Some data points (from redfin):
– Empty lot sold at 1828 W. Newport for $430k in Nov. of 2008.
– Neigboring house, 1830 W. Newport, sold for $315k in sold for $315k in May of 2009.
– There were some goofy looking transactions on the 1900 block of Cornelia in 2009. One house sold for $385k, then another sold for $375k, only to sell again for $195k several months later.
– A cottage at 3442 N. Paulina closed for $365k in January of this year. Small lot with no apparent alley access / parking.
– Only place on the market now that looks close to me is 3553 N. Marshfield. Listed at $389k. Bigger house, worse location, doesn’t look to be anywhere near move-in condition.
This tells me that tear down value is somewhere in the high $300’s, and that this is the only option for a single family in respectable condition under $500k in this neighborhood.
I’d say it’s priced right and will sell between $400k and $450k.
Calling it a single family home is a bit of a stretch with only one bedroom and one bathroom. Its not as if even a small family could live there. The place is more like a detached apartment. And yes, the land is where the value is.
“Calling it a single family home is a bit of a stretch with only one bedroom and one bathroom. Its not as if even a small family could live there. The place is more like a detached apartment.”
There’s a cellar for my kids (probably need to buy some raditors to chain them to, tho), an attic for my wife, a yard for my dogs and garage for my trucks. Seems like a single family home to me.
“Calling it a single family home is a bit of a stretch with only one bedroom and one bathroom. Its not as if even a small family could live there. The place is more like a detached apartment. And yes, the land is where the value is.”
No doubt that land is where *most* of the value is. But there *is* a cute little house on the land. That clearly has some value. As long as that value is in the $75k range this place is priced appropriately.
This is a real home of genius.
Is a “single family home” that thing we used to call a “house”?
I like small houses and cottages. I’m even into pre-fab modular-type construction (nicely desinged, not trailer-like).
It would be a shame to tear this house down for the land. Expand the existing house. However, the price needs to come down below $400k.
I’d really like to see the attic and the basement.
How raw are those spaces?
$450k seems pretty rich, even if the location is good.
Any positives listed about this place are so lost on me.
I don’t know anyone that would rent this place for $1500 fresh out of college. Total. Disaster.
Hey anon thx for the comp re: 3256 n hoyne. . .
Did folks check the senior freeze, 50 y.o. taxes on that one?
$340/year.
I read that and might’ve cried a little bit. And I think maybe Ronald Reagen twitched in his grave.
Hey anon,
Yeah, the Hoyne house was the one I was thinking of.
Granted, this one has a bit nicer interior. But still not sure it’s 100k nicer, given that it has one bedroom.
“not sure it’s 100k nicer, given that it has one bedroom.”
Yeah, probably not.
But the pluses for this one are: location, kitchen, total interior space (incl. unfinished space), (probable) mechanicals more up-to-date. So it’s easily worth as much and quite probably somewhat more.