The Cheapest SFH in Lakeview Went Under Contract in a Month: 3911 N. Hermitage
This 2-bedroom cottage at 3911 N. Hermitage in Lakeview was listed in October 2011 and went under contract before I had a chance to even do a post about it (within a month of the listing.)
Listed at just $339,000, it’s in the highly coveted Blaine school district.
It seems like a no brainer at the list price.
What’s the catch?
There is no parking and little outdoor space as the house is on a 25×49 lot. The 2-bedrooms are also split with the master on the second floor and the second bedroom, at just 10×8, on the main level.
There is, however, an unfinished basement and the house does have central air.
Was this an example of pricing it “right” for a quick sell?
How much does parking matter in this location and price point?
Scott Zelkin at @Properties has the listing. See the pictures here.
3911 N. Hermitage: 2 bedrooms, 2 baths, no square footage listed
- Sold in March 1989 (no price listed)
- Sold in April 1995 for $115,000
- Sold in October 2003 for $275,000
- Originally listed inmid-October 2011 for $339,000
- Under contract by mid-November 2011
- Taxes of $5950
- Central Air
- No parking
- Unfinished basement
- Bedroom #1: 29×12 (second floor)
- Bedroom #2: 10×8 (main floor)
- Living room: 13×12
- Dining room: 14×11
- Kitchen: 11×9
- Den: 15×6
Buyers continue to surprise!! I can’t imagine who would buy this place:
1. I highly doubt any family with more than one kid would buy it – too small.
2. I highly doubt any family with one kid would buy this place as no parent would ever agree to a living situation where they are on the second floor and their kid is on the first floor.
3. I highly doubt any single person or couple would buy this when there are much better alternatives around (ie condos where you have parking and don’t have to worry about maint.)
The only person I could see buying this would be some creepy single loner guy (who is handy w repairs) and who doesn’t want to be bothered – (and I already HAVE a house and am not in the market!!!).
Wow, what a steal! This home is in a fantastic area and the price was really low. Who cares that there is no private parking and the home is small? The neighborhood rocks.
This is a much, much better buy than the generic 2/2s that have sold in LV for $300+ recently.
I think people don’t truly understand the maint. involved with a sfh (even one as small as this). Roof repair, porch repair, basement flooding, foundation work could cost tens of thousands. For a place this small, why not just buy a condo instead (you save money in the long run with the maint/upkeep costs).
“(you save money in the long run with the maint/upkeep costs).”
You lose money in the long run when the value of your crappy 2/2 condo falls off a cliff. The subject property’s price is up 23% from 2003. How has the 2/2 condo market done since then?
Lurker, you obviously know it all….
I’d never buy a house butted against the alley pavement like this one, due to both security concerns (easy access for both peeping toms and burglars), vandalism, and likely frequent vehicular-related damage. This house is tiny, but nicely decorated. Buyer was distracted by the decoration, and failed to examine the conditions. A burglar alarm is useless here; the bad guys can be in and out in five minutes.
Is a 15′ X 6′ space a closet or a “room”, or in this instance, a “den”?
How much did you lose on your LV 2/2 again?
“The neighborhood rocks.”
Too close to Irving/Ashland, which I understand is overrun by Chinese-Mexicans (or is it Mexican-Chinese), sketchy bars and vacant storefronts. Shouldn’t seel for more than ~$125k–ie, the pre-99 price.
I suppose if the Blaine school district is really, really important, and you have one kid, and you have to have a cheap single family, this might fill your needs. But it seems to me a newer 2 BR condo not on an alley would be more practical and attractive.
“I suppose if the Blaine school district is really, really important, and you have one kid, and you have to have a cheap single family, this might fill your needs.”
NO parent is going to let their kid have a bedroom on the first floor next to an alley while they sleep upstairs.
After having lived in both a condo and SFH, I would avoid living in a condo again. Assessments versus maintenance are a wash, and managing your own assets is better if you’re wily with your money. Condo boards can attract lunatics (it only takes one). Other people’s bugs, noises and smells are a reality (even in fancy high rises).
Blaine is not some magical place that turns dunces into geniuses. They teach to the test like every other CPS does (and must). It’s in a great area where the rich/smart parents actually decided to send their kids to the neighborhood school.
If you like urban wildlife, living on an alley could be perfect. I’m sure the rat population around here is growing, and night time would make for some interesting observing out of your kid’s bedroom window.
Condos, condos, condos! Buy condos!
Condos! CONDOS!!!
I don’t know what it is about this thread, but I’m suddenly overcome with an urge to buy a condo. Why would you want to waste your money on a fix-er-upper when there are tons of NEW, hip condos available. CONDOS!
This purchase price is clearly a result of financial funny money floating through the system. $7 trillion in secret loans to banks turns up in the damnest of places.
“It’s in a great area where the rich/smart parents actually decided to send their kids to the neighborhood school.”
Right. A child’s performance in school is determined by the DNA he inherits from both parents. Rich people tend to be smarter, they have smarter offspring, these kids go to the school, they improve the school and its test scores. it’s that simple. It doesn’t take a village, it takes having the right parental DNA.
“I don’t know what it is about this thread, but I’m suddenly overcome with an urge to buy a condo. Why would you want to waste your money on a fix-er-upper when there are tons of NEW, hip condos available. CONDOS!”
Condos are good for city living. I support and agree with the argument that SFHs are more upkeep, labor intensive, etc. and that some people benefit from condo living, esp. during snow storms etc.
“Rich people tend to be smarter, ”
hahahahahah!!!!111
“Poor people are smart”
now that’s really hahahahahahahaaa!!!!!!!
Paris Hilton?
George Bush?
Rich yet so dumb. Amazing how that happens.
There are smart poor people too. wealth is not an indicator of intelligence, it is an indicator of educational attainment. Don’t confuse the two.
” wealth is not an indicator of intelligence, it is an indicator of educational attainment. ”
huh? bc paris hilton is so educated?!! this is your argument – and you are an attorney?!! Good God – no wonder you are so poor.
“Condos are good for city living. I support and agree with the argument that SFHs are more upkeep, labor intensive, etc. and that some people benefit from condo living, esp. during snow storms etc.”
I don’t disagree with this. I’ll just point out that you missed the obvious condo shilling from our resident NAR shill. With a capital L this time…
“A child’s performance in school is determined by the DNA he inherits from both parents.”
Really, you are going to bring up the nature vs. nurture debate? And you are going to do it in that ham-fisted, untrue manner? Wow. DNA isn’t nearly the only factor in educational success, despite your apparent certainty in the matter. Do a little research.
I forgot, clio. So educated, yet so dumb.
Maybe the alley location isn’t desirable, but I don’t understand why some people are down on this place.
With 20% down, the monthly is about $1825 including taxes at asking price. That’s a decent condo alternative in my mind. I have a friend who rents a depressing 1.5 BR apartment in this area for $1750.
I would rather start my own maintenance fund than pay assessments on a condo. Either way you pay for upkeep. But with a SFH you have complete control and don’t have to fight a condo Board.
And, if the OakBrook Village Idiot can’t see the value, let’s underscore that this place seems to have closed at a premium to the 2003 sales price. We are seeing condos close as low as late 90’s prices (like the Oakdale/Lakeview condo featured recently). Who’s the real dummy here?
cLio: You never fail to miss the point. Read his post again. He is correct and isn’t saying what you think he is.
“this place seems to have closed at a premium to the 2003 sales price. We are seeing condos close as low as late 90?s prices (like the Oakdale/Lakeview condo featured recently). ”
It would appear that this place had meaningful (at least cosmetic) improvements done at least a decade more recently than the Oakdale condo. For one thing.
“cLio: You never fail to miss the point. Read his post again. He is correct and isn’t saying what you think he is.”
I read and re-read it – I KNOW what he is trying to say – but he didn’t state that in his post, dumbass. Why don’t YOU re-read it, moron.
“I would rather start my own maintenance fund than pay assessments on a condo. Either way you pay for upkeep. But with a SFH you have complete control and don’t have to fight a condo Board.”
This. And with so many condo buildings under stress with underfunded maintenance reserves, you can at least ensure that needed work actually gets done.
The only people that should be opening their mouths regarding the maint. costs of a SFH are those who actually live in one. Seriously, if you don’t live in one, you DON’T know the expenses – so stfu.
wow the ignorant posters are out in force this morning I see
The only people that should be opening their mouths regarding the maint. costs of 3911 N Hermitage are those who actually live in it. Seriously, if you don’t live in it, you DON’T know the expenses – so please refrain from speaking.
I wish there was a real estate blog/site that actually pre-qualified posters/members. I am tired of arguing with poor, stupid, uneducated renters…..
OBVI (Oak Brook Village Idiot)-
I own one. Its 110 years old. Am I allowed to comment? Thanks. Piss off.
cLio: “I read and re-read it – I KNOW what he is trying to say – but he didn’t state that in his post, dumbass. Why don’t YOU re-read it, moron.”
Gee, I thought he put it quite well: “There are smart poor people too. wealth is not an indicator of intelligence, it is an indicator of educational attainment. Don’t confuse the two.” But by all means, keep up the insults and base reasoning. It really helps convince us that you are a smart, successful, lambo driving doctor and not a frustrated realtor trolling RE blogs. Really, I’m convinced.
“wealth is not an indicator of intelligence, it is an indicator of educational attainment.”
Depends how you use “indicator”. That’s not how I’d use it, but I’m pedantic.
TftinChi – he uses Paris Hilton as an example of someone wealthy but dumb but then he says “wealth is not an indicator of intelligence” (which makes sense) but then goes on to say “it (wealth) is an indicator of educational attainment” (which doesn’t make sense in his example of Paris Hilton). Good God – do I have to explain any further??~!!!!!!
“Depends how you use “indicator”. That’s not how I’d use it, but I’m pedantic”
I hope you never get thrown in jail – inmates don’t like pedantics!!!!
yeah clio inmates hate rock spiders
I don’t mind a house on an alley, if it’s a decent alley. I’d rather have light and not be 4 feet from my next door neighbor’s window. Having said that, I know nothing of this particular alley.
Two blocks down the street a 4 bed, 3.5 bath, 2 car garage, non-alley place just went on the market… for about $240k more. http://www.redfin.com/IL/Chicago/3731-N-Hermitage-Ave-60613/home/13388650
Seems reasonable to me that a single person or couple with a bad condo experience and no kids might want the privacy of a small SFH. Lack of a yard could actually be an advantage, though I wouldn’t want to be right on the sidewalk.
“Too close to Irving/Ashland, … sketchy bars and vacant storefronts. ”
Funny. I was just out that way last week for the first time in a long while. I was out with an old friend and couldn’t help but comment on how much the area seemed to have come up since the 90’s when I was out running around the area more. Disclaimer: It was late and I was drinking. Area did not seem rundown and appeared that newer shops had gone up. The bar was far from sketchy, but I do haunt some dives so it may be relative.
There should at least be three feet wide line of thorny bushes along the alleyside property-line, plus a six-foot stockade fence 6″ erected inside the homeowners’ property-line, to make a side-yard alley tolerable. A wider separation, with tall fence, is even better.
Streets & Sanitation has already noted that its rat prevention program has been curtailed for city alleys. Residents are now at the mercy of their neighbors’ trash-can vigilance. And rats love dog poop, so your neighbors need to be vigilant regarding that issue too.
I don’t think this house was a prudent buy.
Rahm’s security detail is stationed across the street from this place, so it’s got that going for it.
I think it’s a good pick up for a couple with no kids or single person.Great neighborhood and close to everything. It’s a full block in from Irving, so I don’t see the issue there.
helmethofer = Dan
I think Clio misses the point on this. You don’t compare this house with a normal SFH. This is pretty much a 2/2 condo without the hassles of living with other people. A single family house doesn’t cost anything more to maintain than a condo building and I’d rather save up and spend my own money to maintain than have to worry about other people paying their assessments and agreeing on when the right time is to replace the roof. Another bonus of this place versus a 2/2 condo is no one above/below/beside you. Living in a condo, I am sick of dealing with neighbors!
If you look at 2/2 condos in the area, I don’t think you’ll find that this is a bad price and I find it to have many more positives than comparable condos. I’m sure someone can find a 2/2 without parking in the neighborhood to be a decent comp. I’d definitely deal with an alley to not deal with building-mates too.
“I think Clio misses the point on this. You don’t compare this house with a normal SFH. This is pretty much a 2/2 condo without the hassles of living with other people”
are…..you…..kidding?!!!! Do you have any fucking clue how much a roof/porch/foundation work/siding, etc. costs? Obviously not – people like YOU are the reason we are in such financial problems. You don’t think and you don’t know but you spout nonsense as if you do. Scary – very very scary
parking is not an issue in this neighborhood. I’d rather be on the alley on this row of houses, because you could dormer to the north a lot easier and expand this place a bit if needed.
“helmethofer = Dan”
Really? In that case – Dan, I need you to be my spicy ethnic food guinea pig and check this place out:
http://www.yelp.com/biz/banadir-restaurant-chicago
It’s Somali. I stumbled upon it the other day. It’s intriguing me and I can’t get it out of my mind. If you give it the “Dan thumbs up”, I’m there.
“Rahm’s security detail is stationed across the street from this place”
Really? That’s kinda far away, isn’t it?
“Funny. I was just out that way last week for the first time in a long while.”
It was inside sarcasm.
I agree with you, but they (the owners, or Rahm, or whoever might make such things happen) *do* need to do something with the SW corner (former mattress store + alphagraphics(?)) and the defunct Meineke/carny-pumpkin+tree-lot/Long Room parking lot.
It is a few blocks south of Rahm’s house, but they took over a old fire station/ambulance dispatch place. His cars and security detail use it as their base in the neighborhood.
“are…..you…..kidding?!!!! Do you have any fucking clue how much a roof/porch/foundation work/siding, etc. costs? Obviously not – people like YOU are the reason we are in such financial problems. You don’t think and you don’t know but you spout nonsense as if you do. Scary – very very scary”
Last I checked, my condo assesments go to repair the roof, porch, foundation, siding, etc. of the building I live in. This house doesn’t have assessments. I can easily put that money into savings to repair the aforementioned items. I am not the one in financial troubles. I plan for those expenses, and even plan for special assessments in my current situation because I know if the roof/porch/foundation/siding of my condo building needs to be repaired, the association funds aren’t enough to cover it and I’ll be getting a special then.
Either way you pay to maintain a place. Can’t get out of it just because it is a condo….
“Last I checked, my condo assesments go to repair the roof, porch, foundation, siding, etc. of the building I live in. This house doesn’t have assessments.”
Benji,
Things are a lot cheaper when you split them 4, 6, 8 100 ways than if you have to pay 100% of it yourself. Let me explain in terms you may understand better. Let’s say you need to replace your roof and the cost is 30,000. If you live in a 3 flat, that is 10k per unit, but if it is a single family house, the cost is 30k. Now do you see?
I agree with benjamon. Sure, assessments go to pay for maintenance, and you know that you will have to pay them every month and that’s probably all you’ll be responsible for. But I consider myself a better manager of property I own that the collective decision of any condo association I’ve ever known. The nature of a condo association maintaining a building also means that they maintain a perhaps significant reserve of which I will see only indirect benefit. I’d MUCH rather be able to make smart, timely and efficient decisions about how to maintain a property and receive the benefit directly of whatever cash reserve I choose to directly maintain.
Whenever we have this argument, we discover that clio includes a lot of luxury expenses in what he thinks it costs to maintain a SFH. Things like pool maintenance, lawn maintenance, cleaning lady, somebody to come hang paintings and change lightbulbs, blah blah blah. If you’re taking about properties in this price range, it’s relatively easy to determine what maintenance costs will be, and, while it can be a bit of a hassle, it’s really not that big of a deal for a responsible homeowner to contract for the few things that have to be done every year (HVAC and chimney maintenance, repairs, etc.) and plan for the big expenditures (roof, HVAC, etc.) when they need to be done.
Someone mentioned “dormering” the upstairs. Seems to me it would be difficult to get zoning approval for that.
“Someone mentioned “dormering” the upstairs. Seems to me it would be difficult to get zoning approval for that.”
Why?
>>Either way you pay to maintain a place. Can’t get out of it just because it is a condo….
Unfortunately, that may not be true in a small assn if the board won’t pony up and enough owners support that board because they don’t want to or can’t pay. And then building issues, both major and minor, start accumulating and the minority owners’ stress levels go through the hopefully still OK but really old roof that never seems to get higher on the “to do” list. Been there, done that. Agreed that SFH expenses can be surprisingly high depending on what needs to be done, but I’d choose that any day and in fact did so. Issues with my 100+ year old house are mine and mine alone, and I can do whatever I want, how I want, when I want. Talk about priceless! Moral: Not everyone wants or needs the same things or finds the same things valuable. Congrats to the soon to be new owners.
I would take a SFH over a condo any day. If you live in a smaller condo building, let’s six or less, and one unit or more units has been foreclosed upon, and your unit is underwater, you are stuck. And, if there needs to be a major repair, you are not splitting that cost six ways. And, you will not see that money from the bank when they sell the foreclosed unit.
And, a new roof on this size house, less then $10k.
“Why?”
Answering my own question, sort of:
They’ve already got an “illegal” 2d floor bedroom (like 190+ sf “illegal”), so why the heck not?
“Benji,
Things are a lot cheaper when you split them 4, 6, 8 100 ways than if you have to pay 100% of it yourself. Let me explain in terms you may understand better. Let’s say you need to replace your roof and the cost is 30,000. If you live in a 3 flat, that is 10k per unit, but if it is a single family house, the cost is 30k. Now do you see?”
No I don’t see because what you happen to miss is that as KS said, a roof on this house will cost $10k. Find me a condo building that the roof will cost only $10k for. Generally, as the number of units go up, so do expenses. Therefore it is not if you own a house $30k for a roof/1 person=$30k per person if you own a condo $30k for a roof/10 owners= $3k per person.
I’ll agree SFH do cost more than condos generally to maintain, but not as much as you squawk about, and while you have to pay extra in the house, you get to do it at your pace, your way without others input. That is definitely worth the extra cost.
“Find me a condo building that the roof will cost only $10k for.”
Hey, we 2/3s of the owners who don’t have to deal with water running into their units from the leaky roofs, and are about to hand their keys back to the bank anyway, say to you living in #3, with the damp ceiling: Too bad–we won’t vote for the special, or to sign the contract. Deal with the mold, oh “penthouse” dweller.
“They’ve already got an “illegal” 2d floor bedroom (like 190+ sf “illegal”),”
I’m confused. Past a certain size a bedroom is illegal?
“I’m confused. Past a certain size a bedroom is illegal?”
Currently, the assessor believes (1) the 2d floor to be an unfinished attic and (2) the main floor to be ~950 sf.
The lot is 1225 SF
Current zoning allows an FAR of .9, so ~1100 SF total “legal”.
The ~950 sf main floor plus the 348 sf 2d floor bedroom is over 190 sf over the max “legal” floor area, for the size of lot in the current zoning.
“The ~950 sf main floor plus the 348 sf 2d floor bedroom is over 190 sf over the max “legal” floor area, for the size of lot in the current zoning.”
What’s the penalty after the fact (beyond reassessment, which I wouldn’t really think of as a penalty), either pre or post sale?
“The ~950 sf main floor plus the 348 sf 2d floor bedroom is over 190 sf over the max “legal” floor area, for the size of lot in the current zoning.”
Is an expansion of FAR for a residential property a realistic possibility? Assuming, of course, that the person applying isn’t politically connected or willing to grease the palms of aldercritters.
“Is an expansion of FAR for a residential property a realistic possibility? Assuming, of course, that the person applying isn’t politically connected or willing to grease the palms of aldercritters.”
It does happen. Need a variance (more likely) or an up-zoning (less likely, unless you have a silver shovel). But then you’d get re-assessed.
“What’s the penalty after the fact”
Think that the most likely penalty would be if the improvements didn’t satisfy code, and having to deal with that–*if* it got to the point where a post hoc inspection was done, which itself isn’t terribly likely for an o/o–unless you are adding dormers and getting a variance.
It’s a heck of a lot easier to get a variance when the alley is your neighbor. This could be done fairly easily (with the right expeditor of course 🙂
“The ~950 sf main floor plus the 348 sf 2d floor bedroom is over 190 sf over the max “legal” floor area, for the size of lot in the current zoning.”
anon – mind your own fucking business. i fucking cannot stand people who stick their noses into other people’s business and then screw them over. What pleasure do you get out of tattling on someone? One thing inmates hate more than pedantics are tattlers!!!!
“One thing inmates hate more than pedantics are tattlers!!!!”
I take it you learned from experience.
An architect-friend’s practice is focussed on Chicago residential renovations, including the zoning and building code navigation. It’s NOT easy to obtain a zoning variance for additional height or building area, and particularly for areas downzoned as gentrification occurs, often UNLIKELY to be approved. NIMBYs and neighborhood watchdog groups monitor these applications closely.
The existing useable SF in this house’s attic is “grandfathered” under current zoning regulations, and perfectly legal occupancy as a nonconforming use. Expansion of attic to add new useable SF is a different story, and SF calculations would be part of building permit application.
If you did dormer it to add another bedroom, how many square feet would that add? 150? It’s amazing that would be so hard to get through, considering it would add to existing property tax revenues, and not add any real height to the existing structure.
“Streets & Sanitation has already noted that its rat prevention program has been curtailed for city alleys. Residents are now at the mercy of their neighbors’ trash-can vigilance. And rats love dog poop, so your neighbors need to be vigilant regarding that issue too.”
I live on an alley. Rats are the least of the problems. I’ve only ever seen one and it was down the street (away from the garbage cans.) (Knock on wood)
Here are the real issues:
1. Every car will honk as it drives out of the alley (or nearly every car) at all hours of the day and night. (Is it REALLY necessary to honk at 1am when the odds that anyone is walking on the sidewalk are basically zilch?)
2. Lots of homeless people going through the garbage cans.
3. Lots of junk collectors looking for cans in the recyclables plus whatever other scrap metal. This is usually just during the day.
4. Why does someone have to throw out garbage at 2 am? This happens ALL THE TIME. Not just on the weekends either. Really? 2 am for that kitchen garbage? It can’t wait until 6 am to go out to the garbage can?
I could go on but I will stop there.
On the positive side there is MUCH more light in the property because there is nothing jutting up against it.
That’s the concern I had with that million dollar property on the wide lot that you featured as sold a few weeks ago. On the alley in west lakeview for a million dollars.
“That’s the concern I had with that million dollar property on the wide lot that you featured as sold a few weeks ago. On the alley in west lakeview for a million dollars.”
Yep. And that house had the commercial garbage cans on the alley as well (which probably has its own fun issues.)
I left out the part about the garbage men coming on several different days right next to your window.
It’s amazing how many people go down the alley and go through the garbage cans.
Well, you are also within a quick walking distance to the “Diner Grill” on IPR. One of the last of the “old school” lunch cointers with a rabid cult following among both the locals (old-timers and new hipsters), and visiting Cubs fans in the summer.
One versus two, which is reality? How often, really, does someone with “connections” or bribes get something in the GZ changed/approved by the alderman, and passed by the city council without being seen by the well-organized neighborhood groups first? How often does this really happen outside of hyperbole about “clout, corruption, etc.”? Anyone? I’m with architect (#2) that it rarely happens.
1) “Is an expansion of FAR for a residential property a realistic possibility? Assuming, of course, that the person applying isn’t politically connected or willing to grease the palms of aldercritters.”
2) “An architect-friend’s practice is focussed on Chicago residential renovations, including the zoning and building code navigation. It’s NOT easy to obtain a zoning variance for additional height or building area, and particularly for areas downzoned as gentrification occurs, often UNLIKELY to be approved. NIMBYs and neighborhood watchdog groups monitor these applications closely.”
(PS someone talked about african food, I went to an Ethiopian restaurant once, and they brought a platter of multi-colored brown-yellow-green slop blobs that looked like they came from various diapers. With this so-called bread that you sop it up with that looks like a wipe. I prefer French cuisine.)
“I live on an alley. Rats are the least of the problems. I’ve only ever seen one and it was down the street (away from the garbage cans.) (Knock on wood)
Here are the real issues:”
That’s helpful Sabrina. I’ve been eyeing a SFH in Ravenswood for a couple months. It’s on a wide, clean, quiet alley. I didn’t think twice about it, but you listed great points that give me pause.
I’ve personally changed the zoning for a city owned dead end street to a private parking lot for a clout heavy major office building owner. So yes, it happens. I’ve personally gotten variences for somewhat offense signs for questionable businesses in the near north area. All it takes is a large contribution. Whatever the alderman signs off on, city counsil approves. You must get the aldermans approval, his ward is his fief of course. But if you can avoid the community groups and slip undrser the radar, anything goes. I’ve personally seen it and I’ve filed all the necessary paperwork handfuls of times. I’ve just filed the paperwork, I don’t ask questions of my clients.
I’ve seen criminal charges dropped, I’ve seen preferential CPS treatment, I’ve seen preferential hiring, I’ve seen lots of things and I’ve only been doing this for 13 years. And I’m just a middle guy on the totem pole at a somewhat connected firm; the ‘connected’ stuff is everywhere. That is to say that some stuff just can’t go away. Michael Madigan’s son had not one, not two, but three DUI’s before he was finally convicted of of DUI. The first two were reduced to reckless. One reckless, OK, but two? that’s all clout, baby. This type of stuff happens everywhere, in every neck of the woods, in every town, in every government office, everywhere except for maybe teh Federal prosecutors office, those guys are pretty straight laced. Kass outlines it on a nearly daily basis. I’m not telling you anything new here. To deny that it exists is naive.
I once asked a cook county sheriff how he got his job. He flat out told me he campaigned for his county commissioner and after the election he got hired. He didn’t even seen anything wrong with that.
Correction: Near north, I mean north side. It’s not the near north at all, actually.
I would not want a house that had less than 3 bedrooms and lately, I’ve upped my criteria to at least 4 bedrooms and 2 baths. HD, have you seen anything good in Norwood Park recently?
“Icarus (November 29, 2011, 9:20 pm)
I would not want a house that had less than 3 bedrooms and lately, I’ve upped my criteria to at least 4 bedrooms and 2 baths. HD, have you seen anything good in Norwood Park recently?”
You live in a household of two people and you want four bedrooms? In the city?
norwood park is really expensive; conversely, nothing is selling either. Something like one house every 3 months on the circle. And Norwood is going to be inundated with plane traffic as soon as the o’hare modernization plan is complete. 3 east west runways, 2000 flights a day between belle plaine and 90.
“You live in a household of two people and you want four bedrooms? In the city? ”
Assume two children, boy and girl. I so don’t want to be like my neighbors who are forced to make them share a bedroom way too long. Even if we only have one child, an extra den/libary/guest room would come in handy.
Looked at two homes on the circle. The first was a Queen Anne that needed a boatload of rehab. The other was four square right next door which was in good shape but not to my liking.
“Assume two children, boy and girl. I so don’t want to be like my neighbors who are forced to make them share a bedroom way too long. Even if we only have one child, an extra den/libary/guest room would come in handy.”
I hope that 4th bed doesn’t have to be up.
” I prefer French cuisine.”
And Indian, and Mexican and Korean.
“norwood park is really expensive; conversely, nothing is selling either”
Why is that? It’s as if everyone there went to a town hall meeting and agreed to list at the same price point.
“norwood park is really expensive; conversely, nothing is selling either”
“Why is that? It’s as if everyone there went to a town hall meeting and agreed to list at the same price point.”
Is norwood park (by which I assume we are talking about the old norwood section) in fact really expensive? More so than it was (relatively) pre bubble? Compared to something? My v casual impression is that prices have come down quite a bit. But old norwood remains a desirable neighborhood in that general area and will have some premium relative to e.g. oriole park (in part b/c lots and houses are much bigger).
Expensive is subjective. Norwood Park seems quite affordable to me.
Good point Vlajos. I forget how qualifiers like “very” and “quite” seem to set off everyone’s sensativity alarms on this site.
I am speaking of the Old Norwood section with the period victorians and wide lots. I suspose regular Norwood is in line with Edison and Jefferson Park.
“I am speaking of the Old Norwood section with the period victorians and wide lots. I suspose regular Norwood is in line with Edison and Jefferson Park.”
But that goes back to DZ’s question–are those relatively more expensive than they were in, say, 1995? They are bigger, “nicer” houses on bigger lots, so of course they are more expensive.
“But that goes back to DZ’s question–are those relatively more expensive than they were in, say, 1995? They are bigger, “nicer” houses on bigger lots, so of course they are more expensive.”
I really don’t know. Someone with better Google Kung-fu than me could verify that. I’ve only looked at 3 houses there thus far. One near the circle hasn’t been updated in years but had the sh*t HELOC’d out of it and is using the Old Norwood rep as a market comp. The second has been updated with the HELOC money but apparently something caused the owner to short sell. The 3rd is my dream Queen Anne except it needs more work than I could probably take on and still remain married.
Icarus, is this what you are looking for?
http://www.redfin.com/IL/Chicago/5245-N-Osceola-Ave-60656/home/22816638
🙂
benjamon9, that is impressive. I’m more old school but I’m sure my wife could get on board with this if it drops another $100K or more.
I found it impressive in an awful way…but I suppose for a $100k less you could make it look decent…..