The Newer Construction Rowhouse: 4143 N. Damen in North Center
With this 3-bedroom rowhouse at 4143 N. Damen in North Center, a buyer will get the rowhouse feel with modern construction.
Built in 2005 on a 18.6×125 lot, the all brick rowhouse has three levels and a two car garage in the back.
It also has custom built-ins, marble baths, and commercial grade appliances in the kitchen.
Two of the three bedrooms are on the second floor and the third is on the lower level. However, the listing says that the second floor can easily be converted from 2 bedrooms to 3 bedrooms.
The backyard is also landscaped with a brick patio.
Jeff Lowe at Prudential Rubloff has the listing. See more pictures and a virtual tour here.
4143 N. Damen: 3 bedrooms, 3.5 baths, 2 car garage
- Sold in 2005 for somewhere between $780,000 and $800,000 (the public records are really messed up)
- Originally listed in August 2009
- Currently listed for $799,900
- Taxes of $12,310
- Central Air
- Bedroom #1: 18×17 (second level)
- Bedroom #2: 18×14 (second level)
- Bedroom #3: 16×11 (lower level)
- Office: 14×10 (lower level)
- Family room: 25×18 (main level)
Nothing short of an outrageous bubble purchase. With what seems to be pretty high taxes, these people are out of touch with reality. Hello massive price cut.
Hahahaahahaahahah
800k plus 12k in taxes a year to share walls on Damen with only 2 bedrooms above ground
HAHHAHAHAAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAAAAAA
Those taxes are a deal breaker at any price in the $6XXs IMHO.
yikes! Good luck with this. $600,000?
Floorplan here:
http://tours5.vht.com/Viewer/IFloorplan.aspx?ListingID=50028112&Style=IDX&IFloorPage=1
The 2d floor would be able to handle the BR split, but then you’d have two quite small bedrooms.
This is sad. I normally disagree with all the doom and gloom I see on this sight, but these people got themselves into a mess. This might be the most overpriced property I’ve seen so far (by percentage, not real dollars). It’s a nice place, but I’m guessing they are $250k-$300k away from what they could actually sell this place for. I’m not going to make fun of them or talk about how it’s their fault for using funny money, etc. I’m just going to hope this doesn’t destroy their family.
“This might be the most overpriced property I’ve seen so far (by percentage, not real dollars).”
I think this award goes to the Bucktown Victorian storefront (http://cribchatter.com/?p=8103).
These rowhomes were an example of lemming behavior in 2005 sales:
4139 – $875K
4141 – $795K
4143 – $780K
4145 – $800K
4147 – $875K
Don’t anyone tell 4139 and 4147 what you can get in North Center these days for $875K…
And while I appreciate that the realtor recognizes that 2 bedrooms up is a non-starter, so are 2 bedrooms the size of walk-in closets. This place is doomed.
“Don’t anyone tell 4139 and 4147 what you can get in North Center these days for $875K…”
A house west of Western on Berteau, or a reno’d cottage or a two-flat (which you could have had for $650k in ’05, as well) or (almost) two almost-teardowns? Or are you talking about properties not listed and/or listed for $100k+ over the $875k (w/ a not-unreasonable assumption that they’d take 10% off ask).
“I’m guessing they are $250k-$300k away from what they could actually sell this place for”
Appears they paid $780k and put 25% down. So they’ll be able to get out, if they really want to.
Yeowch, there goes that down payment
Lost in all this (completely justified) price discussion, I think it’s a really beautiful home.
To quote a coworker who owns in NC: “You just have to understand that $800k is not a lot of money for a house.”
At least she got a house for it, though.
But seriously, I’ve been by these places a hundred times and would’ve guessed they were moving at 60-70% of this asking price.
“Lost in all this (completely justified) price discussion, I think it’s a really beautiful home.”
The builder (Mangan, I think, or at least an affiliate) did a good job. Were there on a side street rather than Damen, it would be a meaningful improvement. They basically put 5 homes on 4 lots–making each of them ~$200k cheaper than they would have been as SFHs, and making them much easier to sell (and not directly competing with otehr Mangan projects at somewhat-to-much higher price points).
For 800k I’ll take the SFH in Lincoln Park proper or maybe that one in Wrigleyville JZ linked to the other day.
$800,000 and all you get is a 2×5 patch of grass in the back?
No thanks.
I’m troubled by the lack of space and ventilation between the units. It just seems unhealthy. Will sounds and smoke bleed between units? Plus it just looks claustrophobic.
“I’m troubled by the lack of space and ventilation between the units. It just seems unhealthy. Will sounds and smoke bleed between units? Plus it just looks claustrophobic.”
And yet, people pay more than this for one unit in a three unit building. And are willing to live in two-flats.
The walls b/t the units are fireproof (ie, masonry block) and fully framed on either side. There’s no more (measurable) risk of smoke bleeding thru than on an exterior wall of any building. There is some noise “risk” but that’s checkable and I would expect at the pricepoint the sound insulated the walls.
Still too much, but that seems to be an objection to *any* common walls, which just means its SFH’s only for you.
The floorplan that is linked shows some wildly incorrect room measurements.
For example, the interior measurement, wall to wall is 17’7, which looks about right, given the 18.5′ width of the building. But both the LR and the Kitchen use the 17’7 width measurement EVEN THOUGH, in the case of the LR, about 1/3 of the space is the entrance foyer, which shows a separate measurement, and in the kichen, a panty and BR take up at least 4 feet of the width. Also, the other measurement in the kichen–10′ seems out of line by at least a few feet unless they are measuring some of the space past the breakfast bar.
“The floorplan that is linked shows some wildly incorrect room measurements.”
Missed that. The overall length seems pretty accurate, tho, as the aerial shows the length (inside the walls) to be ~55′. So about 975sf of interior space per floor (w/o deducting for walls, stairs, etc).
Anon (tfo): “Still too much, but that seems to be an objection to *any* common walls, which just means its SFH’s only for you.”
You’re right. I’m a city boy who has lived in apartments my whole adult life. But when the time comes to purchase real estate (maybe by the time I’m 50), I’ll probably opt for living way out in the sticks, with sufficient distance between neighbors. I’m a control freak, and can not countenance paying association fees and attending board meetings (bleghhh).
“I’m a control freak, and can not countenance paying association fees and attending board meetings (bleghhh).”
This one *is* fee simple, so there’s no real association, but there may be (should be, I feel) an agreement governing roof and facade maintenance.
I too wouldn’t do well with an association that said I couldn’t paint my front door red (or black) or use a toilet as a planter box (not that I would).
“Lost in all this (completely justified) price discussion, I think it’s a really beautiful home”
Agreed!
this is a beautiful townhome inside the 17ft wide interior with only two bedrooms on damen by the lincoln/damen traffic cluster and at the edge of each of the 17ft is other wonderful townhomes which give you beautiful “white noise” to help you throughout your night and day.
“A house west of Western on Berteau, or a reno’d cottage or a two-flat (which you could have had for $650k in ‘05, as well) or (almost) two almost-teardowns? Or are you talking about properties not listed and/or listed for $100k+ over the $875k (w/ a not-unreasonable assumption that they’d take 10% off ask).”
This is better, no? Also Coonley.
http://www.redfin.com/IL/Chicago/2113-W-Belle-Plaine-Ave-60618/home/13391247
“This is better, no? Also Coonley.”
Yes. Missed that one.
However, the upstairs BRs are, combined, smaller than the 2d BR here–and since the 2d BR already has two closets, seems that they share the “closet-sized” BR problem to get to 3 upstairs BRs.
Thanks DZ – that is what I was referring to when talking about what you can get for the money now. And taxes on that house you pointed out are WAY lower than these. The 25′ wide lot makes a huge difference in terms of space. I – for one – can’t stand narrow places. That’s why I ended up with a condo in a building that is 4 units across built on 5 lots. By the time you put in stairs in most places, you end up quite narrow.
Who has more baths than bedrooms? Thats just stupid. What three people can shower at the same time while a guest uses the powder room?
This is another case of “what the hell was the developer thinking?” during the bubble.
Looks like these people will most likely lose almost all of their down payment. $200,000 is a lot of money to lose. Ouch.
“that is what I was referring to when talking about what you can get for the money now. And taxes on that house you pointed out are WAY lower than these. The 25? wide lot makes a huge difference in terms of space. I – for one – can’t stand narrow places.”
I do think anon is also right in that there isn’t a lot that you could right now go plunk down your $875K in North Center and get a better place.
“Who has more baths than bedrooms? Thats just stupid.”
I don’t see anything stupid about having a bathroom on each floor of a house.
As for there being 2 baths on the second floor, I think you are assuming 1 person per bedroom (which would still justify 2 baths), but remember, some couples share a bedroom…
bob: “Who has more baths than bedrooms? Thats just stupid. What three people can shower at the same time while a guest uses the powder room?”
Given the two closets in the front BR and the “plans for easy conversion”, I suspect that it was originally 3 upstairs BRs, so 4/3.5, rather than 3/3.5.
dz: “I do think anon is also right in that there isn’t a lot that you could right now go plunk down your $875K in North Center and get a better place.”
If there were a lot of options, you’d (probably) have bought by now. Plenty of options at $1.25 or so, but that’s a lot more than $875.
CribChattererererers,
You guys know what 800k can get you in this city why confine your comparisons to just nortcenter? (dropped the H to piss off anon).
“comparisons to just nortcenter?”
I like this abbreviation I will use it.
“dropped the H to piss off anon”
You’re just covering since you aren’t *sure* how to spell it.
How does the house, per the listing, have four bedrooms above grade? The two smaller bedrooms are still bigger than you’d get out of the Damen place (but not by much…).
“You’re just covering since you aren’t *sure* how to spell it.”
True but its cuz i am a product of the CPS 😉
(wonder what budget cuts will do to the next crop of futures)
“How does the house, per the listing, have four bedrooms above grade?”
I’m not sure how you define “above grade,” but there are 12 steps to get to the front door so the lower level is probably decently not underground.
“The two smaller bedrooms are still bigger than you’d get out of the Damen place (but not by much…).”
Don’t know about that–the total square footage of the 2 BRs on BP is slightly less than that of the 1 BR here that would be split, even after deducting 15 or 20 SF for the dividing wall.
No – 9+9=18 which means wider than 17+/- which the Damen row house is. Sorry, I should have said wider which was what I really meant. They would be bigger on Damen, but a lot narrower. You’d have to subtract some space from one to get a corridor into both bedrooms. And add another bathroom door too.
“Sorry, I should have said wider which was what I really meant. ”
That is undoubtedly true.
you guys still see the 12k in taxes here right?
“you guys still see the 12k in taxes here right?”
09 AV down 6.6% from 08 AV and still based on a MV over the ask ($825,920).
“09 AV down 6.6% from 08 AV and still based on a MV over the ask ($825,920)”
Thank you anon, so taxes will drop a tad the next year after sale?
those taxes are another strike against this property.
“Thank you anon, so taxes will drop a tad the next year after sale?”
AV should drop a little, but only w/ an appeal or the next re-assess (wouldn’t count on that). But I wouldn’t expect lower taxes, b/c tax burden is shifting.
Also for 799k i’d rather live here and have Dwayne wade as a neighbor (oh and have only 1 neighbor…)
http://www.redfin.com/IL/Chicago/468-N-Canal-St-60654/unit-TH/home/18967807
“Also for 799k i’d rather live here and have Dwayne wade as a neighbor (oh and have only 1 neighbor”
i thought that was for his mom, our cousin our some family member.
Shut up Groove, its for when Dwade signs with the Bulls this off-season…
come on its going to be chris bosh, d-wade is like 5 on the list, you got king james free and bulls have enough cap room for him now. (at the cost of a horrible losing streak).
ps given i wouldnt mind a dwade/rose combo the way gibson and noah have stepped up thier game
“You guys know what 800k can get you in this city why confine your comparisons to just nortcenter?”
Not that much, in terms of something that’s listing at $800-850K, viable elem school, good commute to loop.
What about http://cribchatter.com/?p=8206 it gets you a better elem school and HS a better commute and with the money you save on taxes and purch price you can upgrade the kitchen and baths to better quality than this TownHome
I would buy season tickets if the Bulls got Bosh or James
“with the money you save on taxes”
You can pay the assessment. They’re pretty close to par, after income-tax benefits. And you avoid the damn association.
“with the money you save on … purch price you can upgrade the kitchen and baths”
And what about the MBR? Can you (almost) double the size of the MBR? And add a second spot to the garage?
I really think this place is “only” about $100k high. 10% off their purchase price is about right–the place has 5 years wear and tear on it and (seemingly) *no* improvements in that time. I don’t know why one *should* expect to sell a (formerly) new place for more (disregarding inflation) after they’ve lived in it for 5 years.
“I would buy season tickets if the Bulls got Bosh or James”
Are you already on the wait list? Season tix are not generally available for the Bulls, and Bosh or James (or Wade, really) would mean 100% renewals.
Anon, i know my comparison is full of holes but dang why you got flush them all out.
but all bedrooms are on the same floor and you will be in LP and resale after 7 years wont be a shock like on damen.
“I really think this place is “only” about $100k high. 10% off their purchase price is about right–the place has 5 years wear and tear on it and (seemingly) *no* improvements in that time”
Its hard to put a price on this place as for its narrow and ON damen and really only a 2BR, all appointments are beautiful but its the other things that kill it for me.
“I would buy season tickets if the Bulls got Bosh or James”
One of he owners here has season tix 100 level that he used to sell to me face value for weekend games. U wanna go with me next year just let me know what weekend your free.
“really only a 2BR”
Depending on how one feels about br sizes, the Larrabee one could be considered to have no master and only 2 usable BRs. 13×11 and 13×10 are okay for kid’s rooms, but is 8×10 anything more than a nursery?
“Are you already on the wait list? Season tix are not generally available for the Bulls, and Bosh or James (or Wade, really) would mean 100% renewals.”
They only have 10,000 season ticket holders and 22,000 seats, I don’t think its tough to get season tickets for the Bulls, I think you have the Bears and Bulls confused
“They only have 10,000 season ticket holders and 22,000 seats, I don’t think its tough to get season tickets for the Bulls”
Huh. Guess people have been dropping them the last couple years. Many, many ate them for *years* post-Jordan b/c they kept hoping that it would again be a hot ticket.
Wow. I’m so amused by your anti-yuppie schadenfreude.
I think I’m the only person here who’s actually toured this place. Comparisons with the townhome on Larrabee are laughable, as this rowhouse is well over 2000 sf and feels light and airy. Larrabee is, uh, aesthetically lacking, cramped, and dated, and in a much better school district, but that’s about it.
I’d venture to guess that none of you are actually in the market. I’ve seen 24 properties in the past month or so, and this was easily one of the nicest. I’ve seen some hot messes in Roscoe Village that are priced lower (but not much lower) and would require $100,000 worth of renovations.
Why am I not buying it? Too expensive. Third bedroom on the lower level. And I don’t like that it’s right on Damen. The street noise isn’t as bad as you’d think, but it’s still present. But it’s well built, with built-in cabinetry on the main level, and it’s a lovely home. High taxes? Yes. Because it’s a newer property. Not everyone wants to inherit a train wreck, then waste a year rehabbing it.
SFH-lovers, I believe you always overlook the fact that single family homes require actual maintenance. Yes, you don’t pay assessments, but you pay in other ways. You have to deal with flooded basements, broken sump pumps, leaking roofs, messed-up gutters, burst pipes, or pipes invaded by tree roots. You also have to take half the day off work and sit around waiting for repairmen to show up. You’d better like shoveling snow. You’d better like mowing the lawn. I’d take a well-managed full-service building over a SFH in a heartbeat.
Uhh HH with townhomes like this one I think you’re still on the hook for routine maintenance (replace hot water tank/HVAC/burst pipes/etc) issues that aren’t part of the common areas. No?
Sure snow shoveling is often included, and the (very) minimal yardwork involved on these places. But in my opinion thats an awful big outlay for very little return.
Absolutely. When I said “full-service,” I meant high-rise. That last paragraph was addressing general comments that I always see on this site regarding assessments.
Eh… The price of this one just means that the owners of these two places will keep wondering their places don’t sell. (The older listing won’t negotiate price very much. We sort of tried.)
http://www.redfin.com/IL/Chicago/2109-W-Berteau-Ave-60618/home/12624908
http://www.redfin.com/IL/Chicago/2111-W-Berteau-Ave-60618/home/12605174
The second one is listed as a 4br because they are counting the top-level family room.
House Hunter,
The larabee comparison was way out there i know it. i was just going off a early poster wanting a good school district as the main criteria and commute to the loop as the second.
As for SFH-lovers, wouldnt YOU rather be in control of what maintenance you want done and when? not a group of people deciding for you? and i feel that in the end i pay less per month and have a better *reserve than a HOA (and thats excluding the DYI work). the best part of that reserve is if it get to large it equals “groove pimptacular family vacation”. Shoveling isnt a problem its the leaves i hate. Mowing the lawn gets me out of the saturday target run, so its a win-win!
We have only seen 5 houses so far, all for a fraction of the price than this place. 3 that have way better schools (disclaimer 2 houses in ewwww Naperville 1 in RF). Now none of then can compare to this places finishes and appointments, but all of them were larger more land, way more private, and all bedrooms above ground.
Groove if you move to Naperville and I’m still here I’ll buy you a beer and give you the straight dope.
“Groove if you move to Naperville and I’m still here I’ll buy you a beer and give you the straight dope”
naperville dropped a few spots due to a change in situation, plus we found a Victorian in Galewood that on the outside we love and its listed only for 350k! (they inside layout looks crazy and may be a deal breaker) we are going to schedule a showing in the next few weeks.
Its slow going and we are taking our sweet ol’ time plus waiting for the spring season to see all that will hit the market.
next time we go out to the ville for a showing i am down lunch. (and a lunch time brewski)
“naperville dropped a few spots due to a change in situation”
it may drop even more, wife is driving out to aurora tomorrow and will be coming back home in prime rush hour traffic. she will report on the commute.
Allow me to report for her: it sucks ass.
“it may drop even more, wife is driving out to aurora tomorrow”
If folks like you cross the Des Plaines to live, what hope does the city have left?
The city needs more affordably priced homes in decent elementary school districts. Options are so limited for those with average or slightly higher than average incomes, and competition is fierce, that often people have no choice. Fix the CPS on the northside and you can ‘save’ portions of the city….good luck with that!
bahahaha driving from Aurora during rush hour?
Have a nice 1.5 hour drive, at least the sun won’t be in your face though
“If folks like you cross the Des Plaines to live, what hope does the city have left?”
I guess You and DZ will have to hold it down 🙂
No but seriously, it doenst look like the burbs will be happening, our buying power shrunk. We sat down with a friend of the family who is a RE agent and she gave us the straight reality on what we would need to price at to sell within 6 months (way lower than what in my mind i thought). And i out of Pride (read stupidity) cannot sell my home for that price after all the work i put into it. so right now the “idea” is we will rent our house out for 2-3 years to my cousin with his wife and kids. since its family i am only going to charge PITI and eat the cost of maintenance and repairs 🙁
Add to that Wife is pushing the second kid convo’s at dinner, so looks like she wont be going back to work anytime soon.
no hard decisions made yet so things can change.
“Allow me to report for her: it sucks ass.”
I heard the reverse commute is the killer nowadays?
The reverse commute is a myth. While maybe not 100% equally crappy, they are both awful.
Groove, why would you move at all right now?
“bahahaha driving from Aurora during rush hour? Have a nice 1.5 hour drive, at least the sun won’t be in your face though”
Well my son will be at grandams and grandpa’s so she can blast the tunes to pass the time.
“The city needs more affordably priced homes in decent elementary school districts. Options are so limited for those with average or slightly higher than average incomes, and competition is fierce, that often people have no choice. Fix the CPS on the northside and you can ’save’ portions of the city….good luck with that!”
The best schools are on the NW side and the prices are not that bad. most CCer’s will never consider these areas which are awesome family city hoods. but with those you run into crappy HS so your choice there is save for private or move again in 10 years.
“Groove, why would you move at all right now?”
DZ,
Well we are hoping by mid summer to be out of the hood. Its has been getting worse and think this summer its going to take a bad turn. I am fed up with it for the past year and each week i get a new reason. our ties to the community are gone, i dont coach at the park anymore and my wife pissed off the secretary, VP and principal at our local elem, she was being to pushy and the Principals words were “you kidding me!!! your kid doenst even go this school and wont for years” so trying to improve that school wont happen. plus with losing the “good” families this past year to foreclosures its thinned the “good” herd. Houses around us are falling into disrepair and i am at my wits end fighting weeds and dandelions because the guy two houses over lets his lawn go and it spreads over. Good fertilizer isnt cheap and isnt good for the environment
Groove:
1. Renting to a family member seems complicated. What if they run into trouble.
2. If you think your hood is going to get worse and if that belief isn’t fully priced into the market, why not get out now. There are a lot of differing opinions on here and elsewhere but few think prices are going up much in the next few years. Why not just get out now and buy a NW city place you can live happily ever after, or at least until future Groove has to worry about finding the kids a high school. If finances are better in 5-10 years then revisit this.
“1. Renting to a family member seems complicated. What if they run into trouble.”
never do business with family i know. i would rather not but too scared to rent it out to strangers.
“2. If you think your hood is going to get worse and if that belief isn’t fully priced into the market, why not get out now. There are a lot of differing opinions on here and elsewhere but few think prices are going up much in the next few years. Why not just get out now and buy a NW city place you can live happily ever after, or at least until future Groove has to worry about finding the kids a high school. If finances are better in 5-10 years then revisit this.”
Also remember it wasnt that great to start with, we helped make it better.
the reason i dont want to get out now is idiotic pride. for me to compete with foreclosures and craptacular cheap houses in the area i have to price ridiculously low. and i feel that its worth more. its the second best home on the few blocks and the top 5 in a mile radius.
Bulls season tix are available now. The jordan halo only stuck around until 2000 or so. I knew guys who got tix then in anticipation of the next dynasty, think they kept them for maybe 2 (god awful) years.
Bulls have great attendance #s though. and “sell out” most games. but there are always plenty of empty seats, except for the playoffs.
“the reason i dont want to get out now is idiotic pride. for me to compete with foreclosures and craptacular cheap houses in the area i have to price ridiculously low. and i feel that its worth more.”
If the latter is true, that’s saying you think pricing will be better in the future. Then that’s not idiotic pride. But you have to really believe that.
“its the second best home on the few blocks and the top 5 in a mile radius.”
Obviously that may make it difficult to sell, but you might find the right person. You just need one.
“Obviously that may make it difficult to sell, but you might find the right person. You just need one.”
thats my wife’s hope, i am more of a “why pay xxx for this when i can buy this for x and fix it the way i like” so i feel thats what most that are buying around me are thinking. and around me its showing cause the cheapest shytholes are the ones that are selling.
Dz, the houses are selling at 70k to 110k around me. i refuse to sell for less than 300k. see the conundrum.
I would never consider a foreclosure a competitor when selling a house. If you are looking to buy, you likely want to buy soon and don’t want to deal with 6+ months of waiting to hear back on a home. Especially when you might not even get it. I think there is definitely a premium allowed for a move in condition, quick to close property.
Ouch Groove, ouch.
Onlooker that is the typical realtor agent BS that foreclosures aren’t competing against regular properties.
Sure there is definitely a premium for move in condition homes, but is this premium worth 30 or 40%?
Is a property supposed to cost 30 or 40% more because the current owner paid too much for it in the past and you can hear back and close the deal quicker? Doesn’t seem economically rational to me.
“thats my wife’s hope, i am more of a “why pay xxx for this when i can buy this for x and fix it the way i like” so i feel thats what most that are buying around me are thinking. and around me its showing cause the cheapest shytholes are the ones that are selling.”
Also its because if shythole costs X and .4X to fix up nice but non-shythole costs 3X, which do you think is the better deal?
Is 1.6X the shythole’s price worth the time, energy and effort to Groovester? Unless you’re making 200k+, I’d think definitely so.
“Ouch Groove, ouch”
yes i know, all the forclosures and “as is” crap shacks are what is selling in my hood. its the mentality of the population around me buy the land and bones of a place and fix it your self for .50 on the dollar. and i can blame them cause thats what i did when i bought way back when. I really didnt think i over improved for the hood before the crash and all the DQ’s. well now its a different story, so you can see my anger towards the bail out of azzwipes.
“Also its because if shythole costs X and .4X to fix up nice but non-shythole costs 3X, which do you think is the better deal?”
yep bob and the community i am in its a DYI work 90% of the time.
Its my own fault i could have got out in 2005, 2006, or 2007 when we talked about it i just wanted to wait until i got a promotion (to where i am at now) and made more money to buy a bigger better place. i should just over extended myself like everyone else.
Interesting discussion.
Groove… a certain percentage of the population are dipshyts when it comes to DIY home improvement work. These are working people who may not have the time or inclination to spend their off-hours fixing stuff.
There is a great value to finding a home that needs no work. Those people are your market. Not the resourceful handyman.
“There is a great value to finding a home that needs no work. Those people are your market. Not the resourceful handyman.”
but the demographic of the area is DYI or the type of person you are referring to has a brother, cuz, or uncle out of work that will do it for cheap which most likely will be living with them.
*So people here can put it into perspective i am over by Riis Park (fullerton and Austin ave).
Aside from any price considerations, I spent several hours in this home and it is one of the best constructed townhomes I’ve seen in my 12 years in the business.
The Mangan Brothers (the original builders) do some of the best work in the city.
It may or may not be over-priced but condition-wise….it’s top notch.
“I would never consider a foreclosure a competitor when selling a house”
Onlooker,
in greenzones i will agree with you but take the wild hundreds for example i might be wrong but the only competitor is foreclosures.
“I would never consider a foreclosure a competitor when selling a house. If you are looking to buy, you likely want to buy soon and don’t want to deal with 6+ months of waiting to hear back on a home. Especially when you might not even get it. I think there is definitely a premium allowed for a move in condition, quick to close property.”
Well then the joke’s on you, because there’s a large segment of the buyers market that have more time than money and can sit around and wait for deals to materialize.
Bob – I am not a realtor, I am a potential buyer, if I were to ever find anything worth it to me. I have looked at a few short sales and foreclosures but they don’t seem worth my time and effort. The few that I looked at in the past that have since old have sold for more than the asking price. I have heard that banks are indicating that people are in multioffer situations (when they aren’t) and asking for their best offer. Which in turn make the person go over the asking price.
I do have a question on short sales – how are people allowed to list a property as a short sale for a price that is less (and sometime much less) than the bank will accept? Sounds like a scam to me.
Part of me also wonders if you would ever get retaliation from the prior homeowner of a foreclosure. If they are mad enough to remove the kitchen,bathrooms, fixtures, would they be mad enough to take it out on someone who eventually owns their prior home?
“If they are mad enough to remove the kitchen,bathrooms, fixtures, would they be mad enough to take it out on someone who eventually owns their prior home?”
my wife sad something similar a few months back. i do wonder if they are just mad at the bank.
“my wife sad something similar a few months back. i do wonder if they are just mad at the bank.”
Well they should be mad at the bank for lending them so much and upset with themselves for extending their finances. Although if they lost their job and had other mishaps they likely are pretty much mad at the world. In which case, the person who bought the house where they planned to raise a family, make happy memories etc, could be a target. I don’t but anything past people these days.
“my wife sad something similar a few months back. i do wonder if they are just mad at the bank.”
It wouldn’t be like buying a gangster/banger’s forfeited car at an auction. Very few of these people are actual criminals, but merely see the removal of fixtures as a way to salvage *something* and “vandalism” as “getting back” at the bank.
You just need to avoid a house formerly owned by a genuine psychopath, but if you figure out how to do that, you won’t need to be shopping for a foreclosure.
Groove,
First you talk about how much great autonomy having a SFH gives you, then you talk about weeds and dandelions. See? Maybe I’m just irked b/c I’ve wasted the better part of 2 days waiting for repairmen to show up. If I were in a high-rise, I’d just call the onsite engineer and head out the door.
Curious as to which NW schools you like.
House hunter,
the weeds was more directed to the neighbor slacking and causing my grass grief. which would be the same in a high rise as your neighbor flicking lit cigarette buts off his balcony and it landing on your potted plants and burning them.
there are pros and cons with each type of home, and each fits a person differently.
I will never say ownership is all fun and games, as i think i posted this story a few months back where i had my furnace/boiler go out on a weekend with guest staying over in january, not fun. things happen some easy, some suck azz (like syracuse loosing) its all trade offs on either that you choose.
as for schools on the NW side i will list them in order of state test scores, (i always exclude test in schools)
Oriole- 13th in the state!!! even with 40 kids per class it beats out test in schools
Edgebrook- 18th in the state and is at the top year after year solid school
Norwood Park- 31st in the state
edgebrook and Oriole beat out the popular Blaine, Bell, Burley year after year.
there are other “acceptable” schools on the NW side like wildwood, OA thorp, ebinger, but not on my list of reasons to move there if not needed or want to.
p.s. is it wrong for me to cheer up cornel?
“These rowhomes were an example of lemming behavior in 2005 sales:
4139 – $875K
4141 – $795K
4143 – $780K
4145 – $800K
4147 – $875K
Don’t anyone tell 4139 and 4147 what you can get in North Center these days for $875K…”
Apparently, 4139 Damen. Sold for $870k on 3-31-11.
Big Ten grad with a biz degree, early 30’s, goes into ‘banking’ and low and behold, now earns enough money in 2010 to pay 2005 prices for an $875,000 townhouse off the brown line. It’s the same tired story over and over again…Keep up the good work banks – just as the Committee of Public Safety at one time had its day in the limelight, so too will the bankers reign of terror come to an end. This will not last forever.
good for the big ten grad
All was good for Maximilien Robespierre and his Committee too…until that came to and end….
“Vlajos on September 28th, 2011 at 11:33 am
good for the big ten grad”
“All was good for Maximilien Robespierre and his Committee too…until that came to and end….”
You really think you won’t be up against the wall, too, when teh revolution comes?
Not the tradeoff I would have made with my $875K, a townhouse (when does a townhouse become a rowhouse?) on damen, however nice, but sincerely hope the buyers enjoy it.
I do miss the groove.
“Big Ten grad with a biz degree, early 30’s, goes into ‘banking’ and low and behold, now earns enough money in 2010 to pay 2005 prices for an $875,000 townhouse off the brown line.”
1) you’re seriously creepy looking up the info of every person that buys a house you can’t afford
2) sour grapes much? maybe you should have listened to your mommy and studied more in high school so you got into a quality big ten university
“Big Ten grad with a biz degree, early 30’s, goes into ‘banking’ and low and behold, now earns enough money in 2010 to pay 2005 prices for an $875,000 townhouse off the brown line.”
And how is that any different than what you are trying to do? The only difference is, you are looking for one that costs 1/2 as much because you likely make 1/2 as much. Would you expect him to buy the same type of house that YOU are looking for?
Dude, it take .0000000001 seconds to figure out what’s up after looking up the PIN ccrd.info – now with linkedin its usually the first thing that pops up on the google page. I will admit i’m curious as to who can pay $875,000 for a house in this market – who isn’t? It look me more time to type this than to figure out the details of who buys $875k properties in north center these days.
and Dumbass I was accepted into a big ten university but i declined to go because knowing that I would have to work to pay my way though school, I chose to work during college at a company in the board of trade that provides financial information to the traders, rather than deliver pizzas at the big ten school all weekend. The owner of the company wrote one of my law school recommendation letters.
anon(Tfo) believe me I will be the first to grab a pitchfork and I’ll be pointing the way!
“anon(Tfo) believe me I will be the first to grab a pitchfork and I’ll be pointing the way!”
No you won’t.. you’ll send in those early principal payments like a good little serf.
“And how is that any different than what you are trying to do? The only difference is, you are looking for one that costs 1/2 as much because you likely make 1/2 as much. Would you expect him to buy the same type of house that YOU are looking for?”
pretty much
chuk: you get all riled up at my posts, but you have to understand, this is just the internet, and only the lord knows what I’ve said so far is truthful and what is not.
I mean come on, I’m comparing a 30 year old ibanker to Robspierre? Did you even catch that obscure reference? Did you think I wrote that expecting anyone to understand it, much less, take it seriously?
anon(tfo) at least got it, but that guy, i’m convinced, is a robot.
yeah right, like most lawyers you are full of SHIT! The fact that you are “so curious” with practically every house that has sold, is really creepy, and one of the reasons I deleted my linkedin and facebook pages, I don’t want wierdos like you out there spying on me!
Also Iowa doesn’t count if you got in there, they take literally anyone in the top 50% of their class from the Chicago burbs…
Hahhaha, I have more unsecured debt that probably most people on this board other than riz….
“No you won’t.. you’ll send in those early principal payments like a good little serf.”
You and I could have been classmates sonies
and don’t blame me for deleting your linkedin, I already know who you are 😉
I’m just kidding with you sonies…quite frankly, i don’t really couldn’t care less who you are or purport to be.
Actually I deleted them because they are dumb pointless attention whoring devices and the fact that these jokers are making billions of dollars off my personal information really irkes me. I believe I deleted my linkedin page the day of their IPO. I’m not too keen on that, I am trying to keep a lower profile and to have some dickhead making billions off of my contact information, really pisses me off!
“Did you even catch that obscure reference? Did you think I wrote that expecting anyone to understand it”
Where did you go to school? I figure everyone had to have at least read Tale of Two Cities.
“quite frankly, i don’t really couldn’t care less who you are or purport to be.”
Unless sonies goes and buys an $850K home in nortcenterish (well, or if he meets any of an uncountable number of other circumstances).
“Did you even catch that obscure reference? Did you think I wrote that expecting anyone to understand it”
I think the things you think are obscure are not really that obscure. Also, such references need to be less explicit.
“Also Iowa doesn’t count if you got in there, they take literally anyone in the top 50% of their class from the Chicago burbs…”
What are the top 3 big ten schools, in order?
I said it was obscure, not subtle.
“What are the top 3 big ten schools, in order?”
Northwestern, Michigan, then probably a tossup between Wisconsin/Illinois would be my guess without consulting the pointless usnews lists
“chuk: you get all riled up at my posts”
Riled up? I was just pointing out that you are doing the same thing as the person you are criticizing. I am far from riled.
“I said it was obscure, not subtle.”
That portion of the statement was more dicta (or really dictum I think) than anything else. Although, the (literal) level of obscurity would be greater if many/most people weren’t aware of its existence at all.
Looks like a nice place btw.
“the pointless usnews lists”
That’s “useless news lists”, bub.
“Where did you go to school? I figure everyone had to have at least read Tale of Two Cities.”
Skimmed the book and skipped the classes when watching the miniseries in HS (preferable to sleeping thru it). Still did okay on the test, iirc.
anon, got any clever names for the useless Forbes lists? I swear that is all they do now
” believe me I will be the first to grab a pitchfork and I’ll be pointing the way!”
Doesn’t this make HD more Robespierre than not?
“What are the top 3 big ten schools, in order?”
Michigan is the best, the rest have some very good and some pretty weak programs so it is hard to say.
“Where did you go to school? I figure everyone had to have at least read Tale of Two Cities.”
Haven’t read, nor was I supposed to read it in any class (as best as I can recall).
“Michigan is the best, the rest have some very good and some pretty weak programs so it is hard to say.”
Really? W/o a lot of basis, I would have thought northwestern. I just have some moderate exposure through recruiting effots (although I will say northwestern seems to have pretty rampant grade inflation, certainly relative to U of C, but I think other schools as well, though don’t know about other big ten).
I think most people consider Northwestern tops in the Big10 followed by Michigan.
It really varies per major, for example Illinois has the best accounting and engineering programs in the big ten and the country (or at least it used to when I was there, and no I didn’t major in either, not smart enough!)
“Illinois has the best … engineering programs in … the country”
Flipping homer. You’re teh Hawk Harrleson of UIUC.
In other words: false!