The Ultimate Bungalow Is Back…and Reduces $10K: 5501 W. Cullom in Portage Park
Many of you are fans of this unique 4-bedroom Chicago bungalow at 5501 W. Cullom in Portage Park. We’ve been chattering about Portage Park recently so it makes sense to, once again, chatter about this home.
Originally on the market in July 2009- we last chattered about it in May 2010 after it finally sold.
See our May 2010 chatter here.
Just one year later- it has been re-listed.
After just a few weeks on the market, it was recently reduced $10,000.
Why is this house called the “ultimate” bungalow?
Built on an oversized 36×125 lot, it has french walnut walls, traycery ceilings, carved woodwork and stained glass.
The lower level has a 1950s lounge, a wine cellar, a walk in meat smoker (which apparently still works) and a full shuffleboard court in the basement floor.
According to a tipster, it was built in 1926, allegedly by an attorney to the mob who deeded the house in his girlfriend’s name with the intent to use it as a home “outside” of the city.
For those of you inclined to figure out appreciation, it apparently cost $12,000 to build when other homes in the neighborhood cost $3500 due to steel I beam construction, all face brick and floor joists every 12” on center.
The kitchen and baths were remodeled in the 1950s in the art deco style, in which they remain today.
The interior picture below was from the last listing, but if you click on the link for the pictures not much has changed in the interior in the last year.
What’s the market like for this house just one year later?
As was pointed out in the prior listing, it remains among the most expensive houses for sale in the Portage Park neighborhood. And as we recently chattered about, not many homes over $500,000 are selling in Portage Park.
Joseph Metzger at Prudential Rubloff has the listing. See the pictures here.
5501 W. Cullom: 4 bedrooms, 2.5 baths, 2.5 car garage, 3500 square feet
- Sold in January 1995 for $293,000
- Sold in December 2002 for $525,000
- Was listed in July 2009 for $750,000
- Reduced
- Was listed in September 2009 at $650,000
- Reduced
- Was listed in December 2009 at $635,000
- Sold in April 2010 for $580,000
- Originally listed in May 2011 for $599,900
- Reduced
- Currently listed for $589,900
- Taxes of $5001
- Central Air
- Bedroom #1: 15×13
- Bedroom #2: 14×12
- Bedroom #3: 10×10
- Bedroom #4: 12×9
Beautiful and interesting house. The only changes I’d ever want to make would be to the kitchen and maybe the rathskeller. I wouldn’t want to alter most of the house, especially the public rooms. I’d leave the baths alone, too- you will pay a designer mucho bucks to design something similar.
Given that the housing market is in worse shape than it was then, with fewer move-up buyers and tighter financing, it might sell for a little less than last year, like about $550K.
I wonder why it is back on the market.
Bargain taxes, too. I’ve seen 1000 sq ft Edgewater condos that sell for less than $125K with taxes nearly this high.
I’ve driven by this house several times, from Cullom side. That listing photo is well-positioned. House is absolutely squeezed upon its lot, with minimum backyard and reduced privacy given mostly streetside exposure. Remainder of block is solidly “blue-collar”-origin unadorned plain-faced bungalows. There are several more semi-distinguished corner-lot bungalows nearby, but this wasn’t and isn’t a $500,000+ single-family neighborhood. Overly optimistic homeseller and realtor might see a $480,000 sale, if they’re lucky.
At this price, prospective buyers would be better served looking in Oak Park for a nice bungalow property. This Cullom house seems to be an example of that saying “don’t buy the most expensive house on the block”. Here I’d say: don’t buy the most expensive house in the entire larger neighorhood.
What a place – you definitely couldn’t touch anything in it, although the kitchen seems off in some way. But that restricts them to a very very limited buyer pool, so I hope the sellers are prepared to wait it out.
I can’t however fathom the idea that they’ve been living there with small children – this place is practically a museum in terms of stuff the kids can’t touch or be near. Perhaps that’s why they’re moving?
Unique place, just don’t love this location for 500 plus.
What a mistake by the sellers. One year of property ownership and you probablY lose 100k min once it’s all decided including closing costs on both buy/sell transactions, final price reduction, maintenance, updates and moving expenses.
Let’s see the usual suspects are job transfer, major change in income, or divorce? I’m betting that he had affair with the housekeeper…..wait no that was the Gouvernator from California.
Either way it sure looks like a big hit in equity is on the way. My guess is that one spouse “talked” the other into buying the home. One year later they both have realized that it is not the hood or home that they thought they were buying.
Some nice features, some cringeworthy, but they mostly can be changed. Again, this is a lot of money to live in a really bland neighborhood with mediocre schools. The commute downtown via walking to the blue line would be 50 minutes minimum, more realistically about an hour, although if you don’t mind being tied to the Metra schedule, that might be a slightly shorter option. With or without kids in the picture, I’d pick a different neighborhood and home, but I’m all about public schools and walkability/bikeability, and less interested in square footage.
If i had ties to the hood this is the house groove might be living in.
the cost to replicate/build this interior will run you way way way over 580k. the custom woodwork will kill your budget alone.
I challenge anyone to find a similar home with this much *intact* vintage and insane detail for this price.
Stunning overall. I would not need ‘shrooms/acid if I had to spend any time in the ‘bomb shelter’ bedroom, however. Love this place.
wow, back-to-back Portage Park listings, i’m impressed.
“For those of you inclined to figure out appreciation, it apparently cost $12,000 to build when other homes in the neighborhood cost $3500 due to steel I beam construction, all face brick and floor joists every 12” on center.”
ah so that’s how they priced it…it cost 3.5x more to build so it should price 3x more than anything in the nabe.
I do like this house and don’t mind the hood, but the price is beyond what I’d want to pay.
“Bargain taxes, too. ”
Taxes are actually $5579. And the last two installments are delinquent. About $5700 outstanding.
This house has a lot o character and a high per square foot cost. These special qualities can outweigh the neighborhood limitations, but this market is not large.
I believe the property is broker owned. IIRC.
3542 N Albany Ave, the estate sale Victorian that Roma posted last week, just went under contract. http://tours.vht.com/Viewer/PhotoGallery.aspx?ListingID=70060216&Style=IDX
Whoops…3543 N Albany
“3542 N Albany Ave, the estate sale Victorian that Roma posted last week, just went under contract.”
the one i posted a few weeks ago fell out of contract
http://www.redfin.com/IL/Chicago/1911-N-Newcastle-Ave-60707/home/13430432
so did HD’s posted place that fell out of contract
http://www.redfin.com/IL/Chicago/6200-N-Mandell-Ave-60646/home/13511264
Groove – Listing for Newcastle says “back on market-deal fell due to buyers lender. PASSED FHA APPRAISAL!”
“3542 N Albany Ave, the estate sale Victorian that Roma posted last week, just went under contract. http://tours.vht.com/Viewer/PhotoGallery.aspx?ListingID=70060216&Style=IDX”
That was an interesting move by the sellers/real estate agent… House went on the market on Friday, they only were showing it from 10:45 to noon on Sunday, and then all offers had to be in by 2 on Monday.
When my husband went at 11:30 on Sunday, there were at least 4 other couple there looking. Said the woodwork was in great condition.
Haha…the agent remarks for Albany say “Sold “As Is”. Boiler is 2 yrs old, newer windows, 20 blocks to CUBS Park.”
Maybe every listing should include the number of blocks to Wrigley. Makes me think about all the signs around the city giving mileage and direction to random locations. I was driving north on Sacramento the other day and saw a sign at Chicago Ave that said “Oak Park – 3 3/4 miles west”, as if you’d want to take Chicago Ave to get to Oak Park.
“Maybe every listing should include the number of blocks to Wrigley”
well yeah everyone need to know how long it will take to bike to wrigley.
this should be a standard and have proirity over sqft. (or correct sqft)
““back on market-deal fell due to buyers lender. PASSED FHA APPRAISAL!””
is that realtor speak for inspector found something serious or that back doesnt think its worth 230k?
Hey homedelete, I just wanted to say thanks for your response on the HELOC question last week. I finally got back to the site today to read it.
I was surprised to read the use of the f word. It seemed to me it is a collateral backed loan, and I’d be saying take the collateral. And settle with me for the difference. The idea was a fleeting thought. Thanks again.
“I was driving north on Sacramento the other day and saw a sign at Chicago Ave that said “Oak Park – 3 3/4 miles west”, as if you’d want to take Chicago Ave to get to Oak Park.”
Sign primarily for bikes, no?
Frequently commuted to Michigan Ave from Oak Park via Chicago Ave; on other hand, I’d never do same trip on a bike, and drivers do need to be vigilant for pedestrians ambling into traffic while seemingly playing “chicken” with drivers.
Often drive by that Newcastle house; it’s cute but small. Prefer larger lot Galewood houses west of Sawyer school.
“Sign primarily for bikes, no?”
Perhaps. Is there any rationale behind the locations they direct you to?
“is that realtor speak for inspector found something serious or that back doesnt think its worth 230k?”
Here’s the listing history for the Newcastle property:
Change Description Status Price Modified Date Updated By
STATUS: RACT -> ACTV ACTV $239,000 05/25/2011 Call Broker
STATUS: CTG -> RACT RACT $239,000 05/19/2011 Call Broker
STATUS: ACTV -> CTG CTG $239,000 03/23/2011 Call Broker
STATUS: NEW -> ACTV ACTV $239,000 02/07/2011 Call Broker
STATUS: DRF -> NEW NEW $239,000 02/01/2011 Call Broker
Judging from the photos and considering the property went contingent on 3/23 and was reactivated on 5/19, the inspection period was long expired. Appraisal may have come back at desired value or higher, but the reports are scrutinized so closely that it could have killed financing. Most likely, there was some reason unrelated to the property that killed the deal.
“Is there any rationale behind the locations they direct you to?”
Not that I’ve really noticed.
But I checked the city’s bike map and the “suggested” route to OP is Augusta, tho Sacto is also a suggested route, too, so random bike-oriented signs should be expected.
thx Chris,
cool to know the RE behind the scenes workings 🙂
i am still waiting for this house to be under contract
http://www.redfin.com/IL/Chicago/2318-N-Oak-Park-Ave-60707/home/13431757
You are definitely taking your life into your hands biking from Oak Park through the west side of Chicago. There was a big story I think two years ago a Oak Parker caught a major beat down.
I actually would like to ride to my office during the summer as it is only about 9 miles, but no way I am attempting that through the West Side.
Yes I’d say it was the buyers that didn’t pass inspection rather than the house (Newcastle).
Groove, the sellers of that house have been attempting to sell since 7/15/2008.
Total Days on Market: 1048
First listed for $520k and has since been reduced by about 37%. Purchased in 2003 for $250k.
#1) can someone explain why listing agents still write in all caps?
#2) Groove, good looking house. Wonder why it’s been on the market so long
#3) Russ, while that biker was from Oak Park, I seem to recall that beat down actually occured in the West Loop, not quite the far west side as your making it sound.
Russ – Are you referring to this incident that happened at Lake and Laramie? http://www.chicagomag.com/Chicago-Magazine/September-2009/A-Mugging-on-Lake-Street/index.php
The Mandell house was a short sale in the $300’s that must have fell through because it was relisted at $549,000 shortly thereafter. Now it’s again been reduced to $529,000.
The Albany house: I said that area would gentrify one house at a time, but at the end of the day, it’s still not that good of an area and I don’t think there are any decent school choices either. But at least it looks like a nice home. I would never live tehre.
Along these same lines, $400,000 seems to be the going price for gut rehabs in albany park. Just sold today
http://www.redfin.com/IL/Chicago/4227-N-Saint-Louis-Ave-60618/home/25687055
“Groove, the sellers of that house have been attempting to sell since 7/15/2008.”
this is gossip but wifey heard that a friend of a friend is very interested in the place. but that was two months ago so i am waiting for redfin to tell me its undercontract.
“#2) Groove, good looking house. Wonder why it’s been on the market so long”
go for a viewing and you will understand but still scratch your head why?
Icarus… it happened at Lake and Lamarie. Much further west than the West Loop.
http://www.chicagomag.com/Chicago-Magazine/September-2009/A-Mugging-on-Lake-Street/index.php?cparticle=1&siarticle=0#artanc
“I actually would like to ride to my office during the summer as it is only about 9 miles, but no way I am attempting that through the West Side”
Russ,
dont yuppies ‘bike the blvd’ all the time now? it takes through some tough areas. not as bad as taking chicago ave the whole way 🙁
also thank you for the crusier rec, wifey and i tool around the hood on ours and its so much smoother and simpler than our mountain bikes.
i am actually buying a fixie after memorial day just to see all the hype.
@Russ, my apologies
@Groove? You have me confused by your yoda-like wording
“go for a viewing and you will understand but still scratch your head why?”
dead bodies in the basement? that swimming pool?
sidenote: did someone go door-to-door in Monteclaire and give everyone a deal on swimming pools? it seems like every other house has one.
“go for a viewing and you will understand but still scratch your head why?”
have your agent schedule a showing you will be pleased and confused. it sounds yoda like but you will understand when your there.
“sidenote: did someone go door-to-door in Monteclaire and give everyone a deal on swimming pools? it seems like every other house has one.”
when you get a 200′ deep lot what else you supposed to do with it?
and actually in the late 80’s every single house in mayfair had a pool it was crazy.
Groove, I know there are a few groups who bike to the city. Safety in numbers. I’ve taken almost all the streets to oak park and wouldn’t do an of them solo. Chicago and Hamlin looks like freaking Hamsterdam from the Wire.
“I’ve taken almost all the streets to oak park and wouldn’t do an of them solo”
no shame i saying so, even at my comfort level would rather not drive that route and thats saying alot.
but if your going by the safety in numbers you can group with a few crackheads who havent sold off thier stolen bikes yet and roll up augusta with chaperons/guides. downside they may need to make a few stops for “fuel” on the way. but you will make up time after the stop trying to keep pace with them 🙂
I always find it amazing that there is so much vacant and underutilized land on the west and south sides of the city near public trans and the highways yet the builders build subdivisions in Yorkville instead. I know why they do this, but still, from a resources perspective it just makes so much more sense. Even the westside of Humboldt Park has vacant buildings and lots everywhere. Imagine how great and livable a GZ area would be with a resource like humboldt park dead center in the middle of the ‘hood.
HD
the city’s greatest parks are unfortunately surrounded by blight now. i have no clue what will change it but thank the chicago park district for not letting the surroundings affect the service to these wonderful parks.
which cruiser did you get, groove?
“which cruiser did you get, groove?”
got wifey some el cheapo pink one from target i got an el cheapo blue one from target. both schwinn’s but mine has chrome fenders 🙂
great for tooling in the hood, all serious rides are on the mountain bikes.
“”For those of you inclined to figure out appreciation, it apparently cost $12,000 to build when other homes in the neighborhood cost $3500″”
Adjusting for inflation, construction costs of $12,000 in 1926 would be about $148,100 today; building one of the other homes in the neighborhood would set you back $43,200 today.
On the other hand, $12,000 was four times the average American income of $2,900 ($35,800 today, about 25% less in equivalent terms than today’s actual per capita income of $47,400).
Russ – Chicago and Hamlin (and vicinity) today is vastly different from what it was 50 years ago – and not because of the usual “white flight”and “urban renewal” reasons.
There was a horrific fire at a nearby school in 1958. Among the many repercussions was the abandonment of the ‘hood within a few years by the families of the victims. The nabe had a “haunted” reputation that worked against any attempt to sustain its former image as a “stable” place to raise your kids.
Recommended reading: “To Sleep With Angels” or “The Fire That Will Not Die” by local authors, m) be foind at used bookstores with good “local interest” shelves.
Still nobody has took me on my challenge???
“the cost to replicate/build this interior will run you way way way over 580k. the custom woodwork will kill your budget alone.
I challenge anyone to find a similar home with this much *intact* vintage and insane detail for this price.”
“I challenge anyone to find a similar home with this much *intact* vintage and insane detail for this price.”
What do we win, your contact info 😀
http://www.redfin.com/IL/Chicago/9116-S-Longwood-Dr-60643/home/13099950
nice but not a win sorry,
yes it has original wood work and probably original wall paper too (eewww).
but the level of detail and quality is not even close to this bungalow.
If you saw it in person, as I have, you might change your mind. Although I’m not sure what the exact specifications we are comparing.
“Although I’m not sure what the exact specifications we are comparing.”
im not sure either, i just typed it out on a whim because for the price i dont think you can find such detail in chicago.
This ultimate bungalow is now listed at $549,000.
It’s under contract! That would make it amongst the most expensive sales in Portage Park this year.
This will be an interesting one to see the final sales price on.
Maybe it was an angel that flew down from the bright photoshopped sky to put it under “K” as the lawyers call it.
I’ll guess between $500 and 525K is the final price.
Wow that is a lot of house for the money.
Hi guys, I know my reply/opinion is a bit late about this incredible bungalow but I’d like to point out to “architect” that this house is an incredible deal compared to buying or looking in overrated Oak Park. Oak Park, although very civic minded, has one of THE highest crime rates in the Chicagoland area. Their property taxes are out of control, and their school system is coasting on it’s past reputation.This bungalow’s taxes if it were in Oak Park would probably be around $15,000 per year. Just an FYI to all of you out there.