This 3-Bedroom SFH is Listed at $499,900 in Southport: What’s the Catch? 3408 N. Bosworth
This 3-bedroom single family home at 3408 N. Bosworth in Southport just came on the market.
Long time readers, though, will recognize it because we chattered about it numerous times the last time it was on (and off) the market which was between 2010 and 2017.
We last chattered about it in January 2017. You can see our chatter here.
It finally sold in March 2017.
So it was a surprise to see it re-listed just 20 months later.
If you recall, this house was built in 1877. The house still has some of its vintage features including one stained glass window and some original woodwork.
The house is built on a standard 25×125 lot with a 2-car garage and has central air.
The new listing says the current owners have made many updates including a new roof, electric panel and refrigerator and dishwasher.
The rest of the kitchen is the same as the 2017 listing which includes a Viking stove and white cabinets.
It still has an unfinished basement which has a “working toilet” and plumbing and which many of the listings say could be renovated.
The two bedrooms are on the second floor and there’s a third bedroom on the main floor, although a prior listing called it a “den”.
The house is near Southport shops, the big Whole Foods on Ashland/Belmont and is easily walkable to Wrigley Field, all the new restaurants like Shake Shack and the soon-to-open luxury movie theater.
This house finally sold in March 2017 for $458,500. It has come back on the market at $499,900 which is less than most townhouses in the neighborhood.
What’s the catch?
As we have chattered about before, the elevated Brown Line tracks run right next to the house.
Will a buyer take a chance with it priced under $500,000 again?
Michael Hall at Baird & Warner now has the listing. See the pictures here.
3408 N. Bosworth: 3 bedrooms, 1 bath, no square footage listed, 2 car garage
- Sold in February 1996 for $132,000
- Sold in February 1997 for $170,000
- Sold in June 2002 for $428,000
- Sold in July 2005 for $569,000
- Originally listed in April 2010 for $749,000
- Withdrawn
- Listed as a rental in June 2013
- Re-listed in February 2016 for $500,000
- Withdrawn in August 2016 still listed at $500,000
- Was listed in January 2017 for $475,000
- Sold in March 2017 for $458,500
- Currently listed for $499,900
- Taxes are still $10,358 (they were $10,358 in January 2017 and $8523 in October 2010)
- Central Air
- Bedroom #1: 15×14 (second floor)
- Bedroom #2: 14×10 (second floor)
- Bedroom #3: 11×13 (old listing says it was 11×8) (main floor)
- Living room: 23×12
- Dining room: 12×12
- Kitchen: 16×9
- Mudroom: 9×6
- Unfinished basement with a toilet
gee I wonder if trains flying by full speed has anything to do with it
perfect home for deaf people with no kids or guests though
Listing photos. LOL. Whatever do you mean? What train?
If you paved the back lawn and sold it as transit advertising, could this cash flow positive?
“Listing photos. LOL. Whatever do you mean? What train?”
Haha, my thoughts too. Going to waste a LOT of people’s time.
“Listing photos. LOL. Whatever do you mean? What train?”
Agent during showing: ITS REALLY NOT THAT BAD, YOU KIND OF GET USED TO IT!
Ha. The assessed value in the listing is more than anyone has ever actually paid for this house and it was just increased 32.2% more. So it is over-taxed and soon to be even more over-taxed. My guess is that could factor in to why they are selling (in addition to the noise).
1bath SFHs are a real tough sell in higher end neighborhoods. The value of this home is no where near what the assessors office cooked up.
“perfect home for deaf people with no kids or guests though”
Deaf, blind, childless, friendless people are sooooo lucky!
“Haha, my thoughts too. Going to waste a LOT of people’s time.”
The last selling agent (in 2016-2017) figured out that trying to “hide” the El was not working. In the actual listing it said: “Please note the proximity to the Brown Line eL.”
In other words, “near public transportation.”
Reminds me of an episode of the “Dick Van Dyke Show” when Rob and Laura were checking out a house they wanted to buy…and for reasons best known to the architect, a huge piece of immovable rock was taking up half the basement.
“The value of this home is no where near what the assessors office cooked up.”
I think the trib reported that assessor used Zillow “Zestimates” for market values. I’ve seen a few properties that support that suggestion.
Vb, I wish you were joking but I suspect you are not far off from the truth.
Zestimates. Sheesh.
Why there are any paid staff at all in the assessors office is quite the mystery. They could just have a computer select the highest estimate of value among Redfin, Zillow or Trulia and then auto-generate our tax bills. No need for people getting paid to think.
Actually – – just checked my Zestimate. Funny – – totally in line with my appraisal that I commissioned AND $200K+ LESS THAN WHAT THE ASSESSOR CLAIMS MY HOME TO BE WORTH, which is $300K more than it has ever sold for.
A/I
Closed for $499,900