The 3-Bedroom Fixer on Wicker Park: 1519 N. Wicker Park
This 3-bedroom single family home at 1519 N. Wicker Park in a prime location on Wicker Park just came on the market.
It is a short sale.
The listing simply says the property “needs updating.”
All 3 bedrooms are on the second floor and the house has central air.
Built on a standard 25×125 lot, it has a 2 car garage.
Is this a deal for the location even if someone does the renovation?
Or is this a teardown candidate?
Irma Pulido at Mansion View Real Estate Inc. has the listing. See the pictures here.
1519 N. Wicker Park: 3 bedrooms, 2 baths, 2465 square feet, 2 car garage
- Sold in October 1988 for $85,000
- Currently listed as a “short sale” at $450,000
- Taxes of $9687
- Central Air
- Bedroom #1: 13×14 (second floor)
- Bedroom #2: 10×13 (second floor)
- Bedroom #3: 11×17 (second floor)
- Family room: 19×19 (basement)
Love the toilet paper on the bathtub. In case you forget which device to use…
This unit could use some staging (easier said than done obviously). Feels like 1000sq/ft
Are those bongs on the coffee table in picture #3??
I think I saw this place on an episode of Showtime’s new show “Shameless.”
Foreclosure filed on 2/11/2009. Default judgment 10/9/2009.
No legal action since then.
Watch the balance grow! it’s gotten SO BIG!
Executed Recorded Document Type Amount
02/28/1990 03/07/1990 MORTGAGE $35,000.00
Executed Recorded Document Type Amount
08/15/1990 10/04/1990 MORTGAGE $22,000.00
Executed Recorded Document Type Amount
09/25/1991 11/13/1991 MORTGAGE $88,000.00
Executed Recorded Document Type Amount
02/05/1993 02/16/1993 MORTGAGE $135,000.00
Executed Recorded Document Type Amount
08/04/2000 08/15/2000 MORTGAGE $381,300.00
Executed Recorded Document Type Amount
01/05/2006 01/27/2006 MORTGAGE $500,000.00
Executed Recorded Case No. Amount
01/26/2006 02/15/2006 MORTGAGE $595,000.00
Executed Recorded Document Type Amount
12/22/2006 01/02/2007 MORTGAGE $606,000.00
Executed Recorded Document Type Amount
07/26/2007 09/18/2007 MORTGAGE $618,200.00
WAY too much money.
three refi’s in 2006!
Here’s a picture of the ceiling where we had some water damage and did a cheap fix…. Really?
For a SFH it seems like an ok price. Then you look on the inside and see that it’s a total gut and redo. Probably $100-125 to get this thing done up nicely…maybe more. That’s assuming there are no structural issues, which from the picture I reference above seems doubtful.
I’d pass at $450. Maybe at $350. Likely $300
Oh yeah… Seller is a licensed broker? Really? Then you should know to turn on the lights when you are taking pictures.
“SELLER IS A LICENSED BROKER IN IL.”
I can’t get over the carpeted toilet seat in the guest bath. Otherwise, this place is staged perfectly and will make a wonderful home for a family of raccoons. I’m surprised the realtor didn’t mention that it is “close to transportation” since the blue line practically runs through the backyard. People are filthy.
i truly would be fascinated to understand what they did with all the refi $. certainly not home updates, water damage repair or interior designing.
however, i think i might take this over the tool & die shop. not that i want either of them, but if i had to pick a lesser of two evils.
jon i laughed out loud at the family of raccoons comment. classic!
“i truly would be fascinated to understand what they did with all the refi $.”
Please see the bong in picture #3.
This backs up to the “L” at perhaps the loudest location of any place on all of the CTA lines. I’ve never heard the L louder than at this area. Ever been to the dog park at Wicker Park? The neighbors have to put up with dogs barking all the time on one side, the loudest L ever on the other side.
it’s really not all that fascinating. probably a vacation or two, some blow, some cruising north ave, maybe a fancy car, lent some money to deadbeat family members, Chili’s and TGif, probably some fancy sushi in the ‘hood. i bet a good chunk of it went to pay the minimum payment on the note. I know a guy who did that for a 2 flat in Logan in 2007. he took out $100,000 to pay off $10,000 in credit cards, adn used teh remaining 90k to pay off the interest on the note as it accrued for the next few years before finally throwing in the towel and crusing/cocaining/heron/gambling/eating all the money away.
“whitecity on March 22nd, 2011 at 1:30 pm
i truly would be fascinated to understand what they did with all the refi $. certainly not home updates, water damage repair or interior designing.”
just speculating…..
… but could there be senior abuse going on here? the decor says granny all the way and the HomeDelete info says somebody got the cash and surely wasnt reinvested into the home.
*also can be the “to pay medical bills” thing too. dont underestimate that one, as i fight with my companies insurance for every bill we got. damn useless idiots there i tell you.
“Probably $100-125 to get this thing done up nicely…maybe more.”
You left out “psf”. This is a $250k job, minimum, to get it to “nice”. $100k would take it to “marginal”, unless you stuck with the dated electric and plumbing, in which case $100k could take it to “resalable to a sucker”.
“probably … Chili’s and TGif …”
Really? Really?!? REALLY?!!??!!???
I haven’t been around here too long, but it seems like there have been a lot of these “NFW” properties lately. I don’t really enjoy looking at these types of places as much as I like talking about the middle of the market. Properties like these are just sad, especially when you see how poorly the owners have abused them (mostly in the financial sense).
The question is what is lot price in Wicker park? I think the location on the park cancels out the fact that the L runs right behind it. $300k for an empty lot here these days?
i once had a client who made $99,000 a year and had $90k in credit card debt. he said, in a pathetic way, that his family charged up the cards eating out at places like chili’s and bennigans. $90k over the years. I wouldn’t doubt it.
“#anon (tfo) on March 22nd, 2011 at 1:47 pm
“probably … Chili’s and TGif …”
Really? Really?!? REALLY?!!??!!???”
“Are those bongs on the coffee table in picture #3??”
I don’t know what a bong is, officer, but those look like lamps to me.
HD, Offtopic/area but can you believe that this one is under contract
http://www.redfin.com/IL/Chicago/4215-N-Hamlin-Ave-60618/home/13484782
anon (tfo) – Is it safe to assume that the electrical/plumbing in any property is dated unless the seller mentions otherwise? Or should it be determined from the components of the plumbing and electrical system that are not hidden behind walls/floors/ceilings?
as for this property, when i ride the train home tonight, i’ll have to take a look as we approach the Damen stop
I bet that big picture window in front doesn’t have a single hole it it either!
“HD, Offtopic/area but can you believe that this one is under contract”
Nice…two similar shots of the living room, one with and one without the dog. Do these guys even look at their listing after it’s been posted?
Icarus: its a bit rich for my blood. but you know decently priced inventory is hard to come by and if you want to buy *now* you have to pick from what is available in the MLS (or the zillow make me move feature).
no, no, the picture without the dog shows the TV.
The best part about this listing is the full roll of toilet paper found in the trash in picture #10, likely because it got all wet from falling into the bathtub
Imagine what this place looks like when its not staged?
Looks like a boarding house.
@ Sonies, I wonder if that basket is the storage space, so that is the next role…lol
I have to agree that people are amazingly creative not in the best way though : )
HD, i’m just noticing some of the properties I’ve marked as favorites on Redfin and other sites are starting to go under contract, even though you think prices will drop further.
So I’m wondering if people are just getting impatient or just don’t share your outlook.
its louder on the north side of the station; where the tracks bend.
“#
Dan on March 22nd, 2011 at 1:37 pm
This backs up to the “L” at perhaps the loudest location of any place on all of the CTA lines. I’ve never heard the L louder than at this area. Ever been to the dog park at Wicker Park? The neighbors have to put up with dogs barking all the time on one side, the loudest L ever on the other side.
“
I can’t get past the black bathtub and tp!!!
Icarus: I can play this game.
Of the 20+ favorites of mine on redfin, only one is under contract. Running the data through my funputer, I show prices cratering…right…about…NOW!
Damn this anecdotal data. DOES NOT FUNPUTE!
“anon (tfo) – Is it safe to assume that the electrical/plumbing in any property is dated unless the seller mentions otherwise? Or should it be determined from the components of the plumbing and electrical system that are not hidden behind walls/floors/ceilings?”
Safe? Not necessarily, but it’s not safe to assume it has been updated even if they say so. Often an “updated” system is just the stuff you see, not the hidden stuff. A good inspector should be able to tell if most of it is updated even if hidden, tho no one can tell for sure with everything without poking holes.
“So I’m wondering if people are just getting impatient or just don’t share your outlook.”
Not just anecdotal, but also fails to take into account that there will be buyers all the way to the bottom.
“HD, i’m just noticing some of the properties I’ve marked as favorites on Redfin and other sites are starting to go under contract, even though you think prices will drop further.”
You’d better snap one up then! There are only a few livable properties in the entire city! You better buy one of them now because all that will be left is uninhabitable!
Or whatever the realtard talking point of the moment is…
For the same price (just reduced) I’d MUCH rather buy this house on Alta Vista and renovate.
http://www.redfin.com/IL/Chicago/3818-N-Alta-Vista-Ter-60613/home/13382823
LMAO this owner is a genius and managed to amass 600k in purchasing power via the ponzi RE bubble & stick it to a stupid bank. I hope they hid the money behind the walls or in some offshore account.
So many dumb people willing to overpay for real estate in Chicago it will be funny to see how this all shakes out. The population of other midwestern cities could be a really bad harbringer of things to come for Chicago.
Over the past decade Cincinnati is down 10%, Cleveland is down 17%, Detroit is down 25%.
Yeah GZ yuppies who migrated here for the dating scene or nightlife you can claim Chicago has nothing in common with these cities but actually much of Chicago does, not the Chicago you know and live in but outside the GZ. And guess what happens when the non-GZ areas in the city start emptying out? The GZ peeps get stuck in a tax death spiral.
After seeing whats happening to other midwestern cities I think Chicago is F’d over the next 30 years. Not enough jobs for yuppies migrating into the city nor near enough of them to offset the exodus in other neighborhoods to greener or warmer pastures.
Detroit opened my eyes today with them releasing the census that a city can die at a rapid pace. Chicago isn’t Detroit but it is midwest and many of the same dynamics are at play.
What’s that clio? “It’s different here?” Hah yeah that’s why Chicago lost 200k people. It will be a lot more in 2020 unless there is massive job creation at living wages and I don’t see that happening.
“Bob on March 22nd, 2011 at 7:36 pm
Detroit opened my eyes today with them releasing the census that a city can die at a rapid pace. Chicago isn’t Detroit but it is midwest and many of the same dynamics are at play.”
I don’t know if I’d call it rapid, Detroit’s population peak population was on the 1950 Census.
“What’s that clio? “It’s different here?” Hah yeah that’s why Chicago lost 200k people. It will be a lot more in 2020 unless there is massive job creation at living wages and I don’t see that happening.”
A substantial portion of the people Chicago lost were probably net tax losses anyway. Cabrini-Green, Rockwell Gardens, the Harold Ickes, the Robert Taylor homes, the ABLA high-rises, and the other CHA homes that were demolished probably had over 50,000 residents.
However, I also don’t see massive high quality job creation going on either. The socioeconomic trends of the last few decades (increased wealth disparity, decreased social mobility) will likely continue.
‘After seeing whats happening to other midwestern cities I think Chicago is F’d over the next 30 years. Not enough jobs for yuppies migrating into the city nor near enough of them to offset the exodus in other neighborhoods to greener or warmer pastures.’
Interesting perspective Bob. I’m just curious, where do you think these ‘greener or warmer pastures’ are going to be over the next 30 years? I mean to say, greener and warmer pastures that make *good* economic/environmental/
cultural/quality-of-life sense over the next three decades. Say a niece or nephew came to you after graduating from college and asked you that question… what sound advice would you give a close family member? Move to TX? CA? NC? Maybe even SD? Given that even the fundamentalists will offer Jesus to save us from ultimate doom, surely you can provide us with a region or two before Chicago implodes.
I repeat Jay’s question to anyone out there who wants to answer: “where do you think these ‘greener or warmer pastures’ are going to be over the next 20-30 years?” Seriously is there something going on in some other state or big city that we don’t know about? Is there going to be massive job creation in california or new york? Give me a break. Stop the doomsday talk – Chicago will be just fine.
Jim: “Are those bongs on the coffee table in picture #3??”
Yes, it looks like there is one each for his, hers, and juniors.
New home sales fall to a record low today.
Just when you think things can’t get any worse, they get worse.
Chicago may depopulate if there are clearly other regions of the country with better job prospects. But right now, everywhere in the U.S. is struggling with real estate, jobs, and deficits. It’s just a matter of degree.
Regardless, the issue of freshwater will always be an issue to consider when migrating to the sun belt. There will be a day of reckoning with regards to water from the Colorado River. My friends who live in the Denver suburbs pay around $150/month for water. Chicago’s location next to Lake Michigan will have a long term value, which may not be apparent in today’s market (most people don’t think about water).
I recently read a book by Richard Florida titled “The Great Reset.” This guy has written other books about the new urbanism and the creative class, etc. In this book, for the most part he states that the recent housing bubble was a one-time event and future housing will be far less expensive, adorned, etc. He discusses the many strong similarities between the housing markets of the GD and the 2008 GR and notes that after the housing bubble of the GD popped, it took 24 years for real spending on residential construction to recover to its pre-crisis highs. He adds that “Anyone who thinks we’ll be able to reset the current housing market quickly needs to pay close attention to this.”
“I don’t know if I’d call it rapid, Detroit’s population peak population was on the 1950 Census.”
I’d say that a 25% drop in 10 years is pretty rapid. Detroit lost 20% *more* people than Chicago did, from a starting point of about 1/3 the population. That’s rapid and significant. Detroit is now a later-dated St Louis.
‘Seriously is there something going on in some other state or big city that we don’t know about? Is there going to be massive job creation in california or new york? Give me a break.’
I’m asking the same thing clio, and typing from southern CA where I spend most of the winter (renting, would never buy), I can tell you the answer is *not* here. The recent quake in Japan has everybody on edge as they know it’s just a matter of time before something hits here. Water (what water?), traffic (you think the Kennedy is ‘bad’ during rush… try driving thru Orange County at any time of the day), mass transit (come again?).
Other than the weather and the entertaining media spotlight that’s always pointed at LA, this place is in *serious* trouble… long term, 30+ years per Bob’s timeline, and population control should be first and foremost on the agenda.
When I think of all that fresh water in Lake Michigan, all those rail lines (Birkshire Hathaway bought the BNSF line, they may know a thing or two about economic futures), an existing infrastructure that includes mass transit, endless corn/soy fields where it actually r-a-i-n-s, the midwest and Chicago doesn’t look so bad… 30 years into the future that is.
“But right now, everywhere in the U.S. is struggling with real estate, jobs, and deficits. It’s just a matter of degree.”
Parts of the US are doing just fine. Look to Baltimore and DC suburbs–all of that federal money is really helping them out. Look to the Dakotas–they never really got hit at all and have the lowest unemployment in the nation.
“I repeat Jay’s question to anyone out there who wants to answer: “where do you think these ‘greener or warmer pastures’ are going to be over the next 20-30 years?”
Low tax & right to work sun-belt & southern states.
“Stop the doomsday talk – Chicago will be just fine.”
We haven’t hit the tipping point yet but we’re on our way. It starts out with increasing taxes to fund an obese government. Then the flight starts to escape the taxes and sub-par schools. Pretty soon you’re stuck in a Detroitlike death spiral.
“We haven’t hit the tipping point yet but we’re on our way. It starts out with increasing taxes to fund an obese government. Then the flight starts to escape the taxes and sub-par schools. Pretty soon you’re stuck in a Detroitlike death spiral.”
What an overgeneralization this is. And so devoid of the lessons of history. Is there some kind of award for this tripe? If so, we have a winner.
Chicago of the 2000s is very different than Detroit at just about any point in its history. Where pre-bust Detroit was dominated by a single unionized industry and had a largely blue collar workforce, Chicago has a relatively well-diversified economy with a relatively well-educated workforce. Chicago is the de facto capital of the midwest, a position Detroit hasn’t ever really held. None of this is to say that Chicago will never decline. Rather, I’m saying the Detroit collapse (as with many other rust belt cities) is a product of a unique set of circumstances which do not fit with Chicago. That type of rapid collapse and depopulation will never occur here, barring some sort of major re-aligning event.
Further, you imply that the overriding factor in the decision of where to live has to do with taxation. As others here have pointed out (though you chose to ignore or not respond to their points), in the future other factors, such as limited natural resources and infrastructure, could play an equal or greater role. And though I don’t have data to back me up (not that you do, either), I contend that the migration toward the sun belt has much more to do with climate and opportunity than the tax environment. In any case, as states balance their budgets and governments and workforces of the south and west grow, the gap between the burden of sun belt and rust belt governments has narrowed considerably.
Consider Texas and their current predicament: the governor swore up and down that he’d balance the budget through cuts alone. Guess what’s happening? The legislature and Governor are realizing that won’t work or at the very least isn’t politically tenable. Enter a raid of rainy day funds and tax hikes on the horizon.
This won’t happen because the greens, Sierra Club, etc. don’t really care about the environment, pollution, the increased carbon footprints of newcomers, etc. because they really care more about pushing hardcore Leftism, subverting the good name of environmentalism to use it as a another Leftist bludgeon to destroy a once healthy America. There is NOT ONE sane arguments a SoCA environmentalist could come up with to be pro-open borders or pro-amnesty, but that’s the side of the issue they are on!
The USA, Illinois and many other states simply have too many people, 1/2 of which are on the dole somehow already, the math just doesn’t add up without massive money-printing and QE. Now we start a 3rd war? Incredible times we live in.
“population control should be first and foremost on the agenda.”
Somebody else mentioned author “Richard Florida”, he’s famous for telling us that Chicago will never become another Detroit because we have Boys Town!! LOL!!
Under Contract!
“all of that federal money is really helping them out. Look to the Dakotas–they never really got hit at all and have the lowest unemployment in the nation.”
Yes, look at the Dakotas and all the multimillionaires funded by you and me through ridiculous ethanol subsidies. They are as attached to the federal teat as DC.
yeah I’m sure you guys all knew that the south west has had its most precipitous period ever in the last 100 years…
First sign of drought down there and i’m sure places like Chicago will become quite popular again
that is of course if our dumbass mayor at the time doesn’t sell off our water rights to the chinese or something
drought + high oil prices = chicago inner city living would be prime
‘Somebody else mentioned author “Richard Florida”, he’s famous for telling us that Chicago will never become another Detroit because we have Boys Town!! LOL!!’
No Dan, what he was saying was that when a city (not just the officials but also it’s people) has/embraces diversity, it has long term economic stability… something Detroit and many other cities do not/never had, and one reason why they die on the vine when big industry closes shop or leaves town.
Think of Proctor and Gamble in Cincinnati. When the city officials passed an ordinance in 1992 that would prohibit discrimination based on among other things, sexual orientation, only to have it repealed a year later by the majority of it’s residents, P&G (big industry) said in so many words ‘this ain’t good for business, and we’re leaving town’. You see, P&G needs/wants to appeal to the best and brightest employees to keep their company profitably moving forward: think researchers, developers, marketers, advertisers, etc., and those people (especially the younger/college educated ones) are overwhelming in favor of diversity, and prefer to live in such communities. It’s good for business, their bottom line, and big industry knows that… it’s a very ‘right wing’ idea (making money) based on a very ‘left wing’ model (a diverse society). Didn’t learn that at Bob Jones???
“Think of Proctor and Gamble in Cincinnati. When the city officials passed an ordinance in 1992 that would prohibit discrimination based on among other things, sexual orientation, only to have it repealed a year later by the majority of it’s residents, P&G (big industry) said in so many words ‘this ain’t good for business, and we’re leaving town’.”
You are a liar. I am from Cincinnati and they stayed in Cincinnati. If you’re talking about Ivorydale trust me cutting those operations was a cost cutting move–it don’t make sense to make soap in Cincinnati and pollute the sky with the smell of lard when you can do it cheaper in Mexico.
“You see, P&G needs/wants to appeal to the best and brightest employees to keep their company profitably moving forward: think researchers, developers, marketers, advertisers, etc., and those people (especially the younger/college educated ones) are overwhelming in favor of diversity, and prefer to live in such communities.”
More of a stretch and a lie. You sure are comfortable categorizing large swaths of the population with a broad brush. Have you ever heard of the “silent majority”? It doesn’t fit into your diversity is inherently good paradigm so I’d guess not.
“are overwhelming in favor of diversity, and prefer to live in such communities.”
That’s why Cincinnati is dieing a slow death. Because the young can’t wait to live within city limits…LOL.
‘The USA, Illinois and many other states simply have too many people, 1/2 of which are on the dole somehow already, the math just doesn’t add up without massive money-printing and QE. Now we start a 3rd war? Incredible times we live in.’
Yes Dan, I agree with your statement that ‘The USA, illinois and many other states simply have too many people’. Maybe you would help me to understand why ‘rightism’ is cutting funds to Planned Parenthood then. The name alone… *Planned* meaning you put some thought into reproduction, and *Parenthood* meaning you should be an actual parent and not just someone that blindly reproduces, seems like a good idea to me, if (and they do) help women and their baby daddies *plan* for a pregnancy by providing them with birth control at no cost. Not much to do with real estate I confess, but I’m just saying…
@ Bob
Never will understand why people from other areas come to Chicago or any other ‘thriving’ city, complain about it constantly with few if any facts to back up their broad brush bitching, but don’t leave. Cincinnati (and it’s silent majority) seems to be a good fit for you then… dead on the vine.
Under contract
this house is on the market again. Alison Victoria’s old house that she renovated. now for sale again for the 2nd time since she sold.
Looks like it sold just a year ago. Asking $275,000 more than the 2022 sales price.