The 7-Bedroom Lincoln Park Short Sale: 1111 W. Wrightwood
I’ve been watching this new construction 7-bedroom single family home at 1111 W. Wrightwood in Lincoln Park for some time.
It has been on and off the market since March 2008 and is now listed as a short sale.
In that time, it has been reduced $499,000.
Built in 2010 on a 29×131 lot, the house has a rare 3-car garage and an elevator.
The listing says it has a “top of the line” kitchen with stainless steel appliances and stone counter tops.
There is a full floor master suite on the 3rd floor with 4 bedrooms on the second floor and the remaining 2 bedrooms on the lower level.
What will it take to finally sell this house?
Lindsay Pitcher at Kinzie Real Estate Group has the listing. See the pictures here.
1111 W. Wrightwood: 7 bedrooms, 6 baths, 6160 square feet, 3 car garage
- Sold in January 2006 for $1.1 million
- Originally listed in March 2008 for $2.899 million
- Reduced
- Lis pendens filed in April 2009
- Currently listed as a “short sale” for $2.4 million
- Taxes of $27,776
- Central Air
- Elevator
- Bedroom #1: 21×16 (third floor)
- Bedroom #2: 13×13 (second floor)
- Bedroom #3: 13×11 (second floor)
- Bedroom #4: 13×10 (second floor)
- Bedroom #5: 12×10 (second floor)
- Bedroom #6: 14×10 (lower level)
- Bedroom #7: 17×12 (lower level)
A disabled, newly-minted media mogul from Abu Dhabi with a large harem/family, zero sense of style, and Clio’s market outlook?
Man just think of the keg parties you could throw here!
Looks like this one grew an extra bedroom since earlier listings!
Looks like the current owner had it built on spec as a side project or something? Tough to follow. Looks like it’s been lpf for more than two years. It also seems like it was actually built prior to 2010, since the current owner got a $2.4 million mortgage.
GatorDeck AND roof deck. Sonies keg party could have separate themes!
ps:
my themes would be “spot the rat” and “who’s going to fall down the spiral stairs”.
poor, obese, tattoo’d, unattractive, sweatpants wearing people get the keg on the gator deck while the high class ballers throw it down on the roof
really bad: maybe 600k less but still really ugly
No way is this worth 2.4….its so cheap looking in finishings.
The exterior is really offensive. Way too many windows, all out of proportion. If I were to buy this (and I wouldn’t consider buying it at this price), I’d completely re-work the exterior so that it matched typical Chicago graystone designs.
On second glance, I’m not sure anything is possible for the exterior. Demolition may be the only option. How much would I pay for a tear-down on this site? The address is decent, so maybe $200,000 for the property.
As for the interior, just looking at the 2-story living room makes me nauseated.
If you can negotiate a fully stocked wet bar into the purchase then maybe it’s worth it so you can just drink your bad decision away each night when you come home?
I wonder what this would have gone for if they had priced it to sell in early ’08.
A good interior designer could make this place look spectacular and then nobody would be complaining.
I don’t like that the masonry on the sides of the building is so vastly different than the front.
The exterior could always be worse. It could, for example, look like this:
http://www.redfin.com/IL/Chicago/1049-W-Wrightwood-Ave-60614/home/13360359
Kind of like the cool fire place, the family room in back, and the huge fridge. And while they look absurd from the outside, I think the windows/ceilings could be pretty awesome. Not a great location. It being a short sale, who knows what will happen, but $1.75 wouldn’t seem too crazy, all things considered.
Sad – I don’t know which is worse. It’s a toss-up.
Instead of going to jail, I think white collar criminals like Bernie Madoff should be forced to buy a place like this and live there with an ankle bracelet for 20 years but not allowed to make a profit or anything. He can sell to the next criminal for what he bought it at. And they are responsible for all repairs too.
SAd – 1049 wrightwood is UNDER CONTRACT at 2 million?!@!!!! ARE YOU KIDDING ME?!! IF that is the case, I would rather have the one highlighted by sabrina.
I am with you Dan 2.
“The exterior could always be worse. It could, for example, look like this:”
It isn’t Lincoln Park, and far cheaper….but here is another failure!
http://www.redfin.com/IL/Chicago/5241-N-Osceola-Ave-60656/home/13556271
BettyBoop – good idea!
“It isn’t Lincoln Park, and far cheaper….but here is another failure!”
It is completely ridiculous but in one sense I kinda like it. Imagine the increased leverage you could have inviting the neighbors or coworkers over for dinner–they’re going to know you’re not playing with a full deck and give you more leeway!! Imagine answering the door for the pizza guy dressed in platemail, or better yet as a gnome! Oh man I could have a lot of fun renting a place like this for a year.
I guess Medieval Times is going through some downsizing, hence the listing.
@ benjamon9,
lmao…check out the interior too. This looks like something Hagrid would buy if he were real and lived in Chicago.
I would LOVE that place – it would be so easy giving directions to friends. Also, you would be the center of attention (something I always strive for)!!!!
Wait – and you think that is ridiculous…. ok, don’t hate me, but we HAVE to highlight this at least once a month:
http://www.kingwanted.com
Miumiu, I’ve noticed this place for awhile. It truly is horrendous, but I’ve been waiting for a moment to bring up its awfulness in SOME context somewhere!
Bob, I love the gnome reference! I can totally picture it!
I wouldn’t mine living here. 1049 is infinitely worse. I wonder if you could take a grinder or something and smooth out those rough hewn looking blocks two-thirds the way up to make them match.
With all those bedrooms this could make a small fortune for whomever is in possession while the lenders hide in their cubicles for who knows how long. Like $800 x 7 / month.
It looks nice though for younger enterprising people or couple(s) . Maybe some kind of two-family arrangement or combine the bedrooms. Somehow I think there are very few 4-6 child families who would be in the market for this. I suppose they really only need to find one such family though.
Someday this will be a million-dollar house. As in $1.0 million.
There are elements I like about 5241 N OSCEOLA St, particularly the windows, but they half-assed the medieval theme. At least King Wanted looks more consistent throughout. That basement level, log cabin look, seriously? If there is anyplace in that house to have stone walls (real or fake) it’s the basement/dungeon. Not a log cabin design lifted off R. Kelly. I toured Kelly’s pad on George St and it looked exactly like that. I guess he started a Chicago area trend. A lame one.
A Gnome statue out front would be so awesome. Perhaps a permanent custom concrete gnome.
I would much rather take the Osceola place than this monster in Lake Bluff
http://www.redfin.com/IL/Lake-Bluff/244-W-Center-Ave-60044/home/14169706
The listing agent did a good job of hiding how hideous it looks from the street.
I think the subject property would have been better off repurposing those basement bedrooms into something more ‘appealing’ than bedrooms. Or done less bedrooms on the 2nd floor – 12×10?!
“I would much rather take the Osceola place than this monster in Lake Bluff
http://www.redfin.com/IL/Lake-Bluff/244-W-Center-Ave-60044/home/14169706 ”
I’m pretty sure I remember that one from my WoW days: http://www.wowwiki.com/index.php?title=Gadgetzan&image=Tanaris_070910_014348_-_Gadgetzan_-_Kirkburn_12319-jpg
It’s not that bad folks. Overpriced yes… but not horrendous.