Get a Vintage 3-Bedroom Cape Cod For Under $390K in Lincoln Square: 4838 N. Seeley
This 3-bedroom vintage Cape Cod at 4838 N. Seeley in Lincoln Square just came on the market for the first time in 14 years.
Built in 1884 on a 25×125 lot, it has a 2-car garage, a back deck and professional landscaping.
The listing says it has 1280 square feet.
The house has hardwood floors and a claw foot tub in one of the bathrooms.
2 of the 3 bedrooms are on the second floor with the third on the main level.
The kitchen has a stainless steel refrigerator but a white stove.
There is no basement.
The house also has central air.
Is this a good condo alternative for those looking for the starter house instead?
Mark Mielnicki at KP&G Enterprises has the listing. See the pictures here.
4838 N. Seeley: 3 bedrooms, 2 baths, 1280 square feet, 2 car garage
- Sold in October 1997 for $148,000
- Currently listed for $389,900
- Taxes of $5660
- Central Air
- Bedroom #1: 14×12 (second floor)
- Bedroom #2: 14×12 (second floor)
- Bedroom #3: 10×8 (main floor)
- Living room: 21×14
- Dining room: 14×11
- Kitchen: 12×7
Just because the realtor calls it a cape cod doesn’t mean you have to as well.
This house is not a cape cod style house. It is a simple local vernacular low end worker’s cottage.
Nice place in a great neighborhood. Price seems decent. In spite of all that, the 1884 date scares the crap out of me. I don’t think I’d be able to overcome the age factor.
Home Value Estimates for 4838 N Seeley Ave
Low Estimate High
Zillow $273,695 $408,500 $469,775
Eppraisal $139,768 $164,434 $189,099
Executed Recorded Document Type Amount
10/28/1997 11/19/1997 MORTGAGE $140,600.00
meow… here kitty kitty….
Here’s a decent comp but it’s 6 months old.
http://www.redfin.com/IL/Chicago/2303-W-Winnemac-Ave-60625/home/13403712
“Home Value Estimates for 4838 N Seeley Ave
Low Estimate High
Zillow $273,695 $408,500 $469,775
Eppraisal $139,768 $164,434 $189,099”
If it were on the market for anything in Eppraisal’s range, I’d buy it *today*.
The question is, is this worth 50% more than the condo on Winchester? Comparable location, comparable total size, this one has a garage, a second bath and a yard. If the condo is *remotely* the right price at $260k, isn’t this one also properly priced at $390k (maybe sell at ~$375k)?
Of course, barring any inspection problems.
Also, crawlspaces in lieu of basements suk.
Eppraisal? Now THEY are the ones smoking the crack pipe. Thinks aren’t that bad. The Zillow figure seems to more accurately reflect market conditions, though I only used a small sample to research.
“Here’s a decent comp but it’s 6 months old.”
Basement, shorter but wider lot, pix make the interior look nicer. Don’t like that part of the ‘hood quite as much–prefer the area by Damen.
LOL. Eppraisal estimates that the place directly above me is worth 50 K more than mine is. The floor above that is estimated as 80K more than mine. Too bad our building is only three stories, whomever owned a forth floor unit would be pretty happy.
Zillows estimates can be very inaccurate at times. The last sold price on my property is off by over a million dollars, and I have flagged the transaction numerous times over several years and no one changes the data, and no one responds. It screws up all the comps and also screws up my estimate. worthless.
Hey I’m not quoting that stuff as fact, just that it’s hard to determine value by comps because there isn’t much sold similar to this.
Doesn’t anyone think it’s a plus that no basement = one less thing to worry about leaking when it rains? I think this place is pretty adorable and the perfect size for me. But it seems that little cottages like this on the north side sell for a lot more per square foot because a lot of people want a small SFH and there aren’t that many of them near an el stop. If this place was 300K, I’d be really excited. But at 400K, I think I can spend a bit more and get a two flat or a much bigger SFH. I wish a developer would build some townhomes in Lincoln Square/Andersonville to compete with places like this.
Picture 6 is blurry, another lazy broker.
“Doesn’t anyone think it’s a plus that no basement = one less thing to worry about leaking when it rains?”
It’s someplace to put a w/d and HVAC w/o taking up usable floorspace, if nothing else. And a crawl space still means worrying about mold when it rains and critters the rest of the time and a slab still leaves you worrying about leaks, if you are so inclined.
cute, but to be honest for 389k I’d rather live in a larger condo in a more fun neighborhood
“Here’s a decent comp but it’s 6 months old.”
That’s a much better property and therefore a bit of a tough comp for the Seeley owner – that Winnemac property is (in my opinion) gorgeous and way better in every way I can come up with, except marginally access to transit. That said, they’re already $30k under Winnemac even at list so a deal should be doable.
Flo,
I think mine is off by a million dollars also.
It is the best comp i could find. Everything else sold in the last six months, at least in my precursory search, is a lot more money, larger, or, a condo.
He’s another comp for you. Same block. Sold about 14 months ago after a LONG time on the market for $232K.
Granted, this comp was a bit grungier and needed updating, but it’s the same type of structure. And the featured house isn’t really updates/upgraded. $389k sound cheap, but I believe it to be fully priced, and then some.
http://www.redfin.com/IL/Chicago/4807-N-Seeley-Ave-60625/home/13404440
Pardon my typos. Sorry
Jason
do you think its for better or worse when you buy a 400,000 and zillow says you paid 1,400,000? or are you vice versa? I guess that would suck
Mine says it is only worth 360K but I think it should be $1,360.000.
😉
Oops typo, $1,360,000.00
the problem is when there are actually only a few comps so this abnormal transaction affects the nearby properties. and this property might be in a similar situation. In my case, my neighbor would now believe her property is worth far more if looking at zillow estimates because it is taking into account the million dollars random adding to my sale price. one of comps probably works for zillow and is deliberately ignoring my flags to inflate their estimate. My point is just be careful when using those as most CC’ers already know.
Again I am the outlier. I think it looks terrible. This kitchen is so depressing.
I don’t understand the layout of kitchen with respect to the living room.
Also de-clutter a bit before taking the photos! All these photos have such closed angles that one does not see the rest of the space or the relative layout.
The description ‘seeking loving owners’ makes me wonder what kind of work it needs.
My two cents: I have friends who live on this block. Really nice neighborly people.
All those bottles on the table next to the tub makes me wonder what kind of concoctions are being developed in that tub…..
this is just a guess, but it probably needs a ton of work. Probably still has the original plaster walls, i’m sure it needs new electrical, piping all the way to the buffalo box, insulation, probably older HVAC…
“But at 400K, I think I can spend a bit more and get a two flat or a much bigger SFH. I wish a developer would build some townhomes in Lincoln Square/Andersonville to compete with places like this.”
Check this out — we’ll see if it ever comes to fruition–
http://theresidencesatedgewaterpark.com/
As some have noted comps in this area are tough for a place like this. The realtor probably gave the seller a wide range and they picked the largest of the numbers. Judging by the overall activity in the area including brick 2flats and trying to extrapolate to something like this I think this place is better listed around $350k and sells $325-340k.
While perusing the area I saw this jem. Holy crap that is my dream garage!!! I need it, quick how do I submit a competing bid on something under contract, I NEEEEED this place!!!
http://www.redfin.com/IL/Chicago/2525-W-Gunnison-St-60625/home/13490547
wow, sold at auction, now reselling already… you could cash flow that house just from the garage hah
There are so many problems with the Edgwater Hospital as it is. It will cost whoever develops it beaucoup bucks to buy out the bankruptcy creditors, then pay for asbesots removal before anything else can begin. Not to mention that the nearby residents want a park, not more development and have made their wishes known to O’Connor.
“There are so many problems with the Edgwater Hospital as it is. It will cost whoever develops it beaucoup bucks to buy out the bankruptcy creditors, then pay for asbesots removal before anything else can begin. Not to mention that the nearby residents want a park, not more development and have made their wishes known to O’Connor.”
Yeah. People get really upset about the prospect of more condos, but I really have to wonder who would fund such a project. Site is currently valued at $5.3M with demo estimated at $6.2M, plus I’m having a hard time believing that there be a market for 290 “luxury” condos overlooking the 5700 block of Ashland.
But those will be single family houses and they won’t cost 400k.
You can pick up a townhouse on Winnemac right near the tracks for around 400k or less.
But at 400K, I think I can spend a bit more and get a two flat or a much bigger SFH. I wish a developer would build some townhomes in Lincoln Square/Andersonville to compete with places like this.”
Check this out — we’ll see if it ever comes to fruition–
http://theresidencesatedgewaterpark.com/
“this is just a guess, but it probably needs a ton of work. Probably still has the original plaster walls, i’m sure it needs new electrical, piping all the way to the buffalo box, insulation, probably older HVAC…”
Hope the new owners don’t have any aversion to dust because one of my dorms had plaster walls and they seem to seethe dust. Like a LOT OF DUST.
Not too much of a prob in the warmer months when you can ventilate with outside air. Definitely annoying as crap in the winter months.
Nice set-up for a historic home museum set-piece for Chicago Historical Society. Not a good choice for a home purchaser.
This “house” is an example of the least expensive version worker’s cottage model from the mid to late 19th century. Few remain on North Side; most were demolished long ago due to both obsolence and deterioration. It may be a relocated cottage from the post-Chicago Fire emergency housing effort, or date back even earlier. Further examples are in “Chicago; Growth of a Metropolis” book, and other Chicago history books.
Crawl space for a 19th century house is a major concern; nearly all housing up to post-WWII suburban developments incorporated basements for good reason – damp and frost problems. There are likely mold and creeping damp problems. Plus probable lack of insulation (other than horse-hair) in exterior wall framing make this a good choice for historic living re-enactments but not 21st century living standards.
It looks cute for a second. But this property is worth only the value of the lot and the house frame. A vintage clawfoot tub in-situ is charming only in a photo, once you realize that the MEP systems are of same vintage the “bloom is off the rose”.
Very interesting pick, Sabrina!
Agree, architect, though I could add it would have better chances if it were built of brick.
This is not the kind of older house that makes a worthwhile rehab.
Sabrinab-nobody cares about poor places inhorrigle neighborhoods. Be smart and only hoghlight nice places. Don’t be stupid – you know more than any one the power of the buck. Come on u deserve more from this site!!!!
2:12 a.m. is this actually clio,apparently been drinking,or is this some kind of *fake* clio?? horrigle neighborhoods? oh my goodness.
CLIO is not clio. Its a drunk troll who isn’t the real clio.
Not that I place a lot of faith in the lower cased clio but others on here have claimed to at least have verified his identity.
Uppercase CLIO might as well be a World of Warcraft Paladin for all I know.
thanks,bob
Big CLIO is clio on ipad. Yes, he’s had some drinks. The car’s ok. Thank God!
Has anyone noticed that ss only posts about Clio. I have never read any other posts by him.
CLIO needs to hide his ipad before he goes out (and needs to have dinner before drinking)!!
Ur too old to be drinking on an empty stomach. U took the ipad to Mastro’s?
miumiu, I think ur jealous of me! Go chase HD!
Twilight Zone anyone?
Actually I like HD quite a bit. He is a bit on the melancholic side but he is reasonable and I like some of his political view points : )
“CLIO is not clio. Its a drunk troll who isn’t the real clio.”
Nope. CLIO = clio.
“It is the best comp i could find. Everything else sold in the last six months, at least in my precursory search, is a lot more money, larger, or, a condo.”
I’m not criticizing you for putting forth that comp – obviously, they are what they are. I’m just saying that comp in that period is a tough one for the Seeley owner, because it sets a pretty hard ceiling for them well under the Winnemac comp.
I think it’s a lovely house – and a fair alternative to a nearby condo. If you have a small family and like to garden, this seems like a perfect place.