This 4-Bedroom Bungalow with Lush Gardens Returns: 2434 N. Sawyer in Logan Square
This 4-bedroom brick bungalow at 2434 N. Sawyer in Logan Square just came on the market.
Built in 1912, it’s on a bigger than standard Chicago lot measuring 31.5 x 186.5. It has a 2-car garage.
If it looks familiar, that’s because we last chattered about it in 2009. Thanks to DSquareD who pointed out that it was back on the market 11 years later.
You can see our 2009 chatter here wherein many thought that even at $525,000 it was overpriced for the neighborhood.
How times have changed.
This house has extensive gardens including a treehouse, patios and flagstone paths.
The listing says the kitchen has been completely renovated in 2012. It has modern cabinets, granite counter tops and Thermador and Bosch appliances.
The listing also says the bathrooms were updated in 2016 with Carrera marble, Grohe and Toto fixtures, rain showers and granite floors.
Three of the four bedrooms are on the second floor with the fourth on the main level. The master bedroom has an en suite bath.
Space pac cooling was added in 2011.
The listing says copper water lines and gas lines were updated in 2016.
It also says the roof has been replaced, most windows were replaced and it has a finished basement.
After selling in August 2009 for $525,000, it has come back on the market 11 years later, with a much stronger economy and a hot Logan Square, at $800,000.
Is this the price of entry in Logan Square if you want a single family home?
Jeffrey Beck at Baird & Warner has the listing. See the pictures here.
2434 N. Sawyer: 4 bedrooms, 2 baths, 2 car garage, 3000 square feet
- I couldn’t find a prior sales price- but it was in the 1980s
- Sold in August 2009 for $525,000
- Currently listed at $800,000
- Taxes are now $9021 (they were $4624 in 2009)
- Space pac cooling
- Bedroom #1: 15×13 (second floor)
- Bedroom #2: 19×10 (second floor)
- Bedroom #3: 15×8 (second floor)
- Bedroom #4: 11×11 (main floor)
- Living room: 30×12 (main floor)
- Kitchen: 11×11 (main floor)
- Family room: 13×13 (main floor)
- Breakfast room: 11×10 (main floor)
- Recreation room: 27×13 (lower level)
Ha private garden my ass. Nice job with the block
Buy now or be priced out forever
crack pipe pricing
“crack pipe pricing”
I don’t know, you were wrong before
This one goes for 425-450k is my guess. It isn’t exactly the best neighborhood, no central air and the place looks like it may need some serious work and updating from 1989.
It looks like a rental, and will sell accordingly.
http://cribchatter.com/?p=7304#comment-45753
“crack pipe pricing”
I haven’t been over there recently–all an issue of the micro-hood. Is the Kedzie to Kimball area nice enough to support this price for a bungalow with a semi-finished basement?
I think a hypothetical big lot like this, east of Sacto, would easily get the ask.
Also: that’s a lot of ceiling fans. I like ceiling fans, but would be replacing most of them, if I lived there.
“Fabulous historic all brick bungalow”
what classifies a home as historic. I’m sure this is just realtor speak but this home has not historic or landmark designation. Is is just because it’s old…like many homes in Chicago.
“I don’t know, you were wrong before”
I’m bound to be right eventually! -said the broken clock
800k for a old, s*tty bungalow in Logan square.
the 1 million dollar new construction homes there is one thing, but who T F would buy this?
Love the front of the house. Could live without the rest.
You’re paying for the view!
Love the view of the brick wall from the kitchen. Nicely captured in the photo – with a slight bluish tint.
“Love the view of the brick wall from the kitchen. ”
if you want a window on the side of your house there’s a good chance you’ll looking directly at your neighbors house.
The moral of the story is to buy into the neighborhood before it becomes “hot” or “trendy”. You could have bought almost anything you wanted in Wicker Park in the early 90s, or Logan Square, for next to nothing. But those who dared to take a chance on areas that were no way a sure bet, scored very big in just a decade or two.
I mean, just look at the contrast: a cute but rather rough cottage in a neighborhood that is still somewhat dodgy, but VERY trendy, is asking nearly 4X its price of 2009, while houses that are nearly mansions, in beautiful condition, in beautiful, safe, with excellent schools both public and private but distinctly non-trendy, fuddy-duddy, and dull Hollywood Park and Peterson Woods languish on the market at similar price.
So, if the prices in “prime” neighborhoods are giving you the vapors, you might want to try walking to the left, and looking at things in “forgotten” neighborhoods, or those just starting to become destination areas.
“I mean, just look at the contrast: a cute but rather rough cottage in a neighborhood that is still somewhat dodgy, but VERY trendy, is asking nearly 4X its price of 2009, while houses that are nearly mansions, in beautiful condition, in beautiful, safe, with excellent schools both public and private but distinctly non-trendy, fuddy-duddy, and dull Hollywood Park and Peterson Woods languish on the market at similar price”
You’re not that good at math I take it –
525k in 2009, and 800k in 2020 is not even close to twice the price, let alone 4x its price of 2009. Where are you pulling those numbers from?
“The moral of the story is to buy into the neighborhood before it becomes “hot” or “trendy”. You could have bought almost anything you wanted in Wicker Park in the early 90s, or Logan Square, for next to nothing. But those who dared to take a chance on areas that were no way a sure bet, scored very big in just a decade or two.”
Isn’t this true now?
It seems pretty obvious that Bronzeville, including the Gap, Oakland, Woodlawn and the South Shore will be very different in 10 or 15 years.
“Ha private garden my ass.”
The garden looks better in the 2009 listing pictures because it was lush and green. You can see the pictures in the prior chatter.
“It seems pretty obvious that Bronzeville, including the Gap, Oakland, Woodlawn and the South Shore will be very different in 10 or 15 years.”
My bet would be absolutely not. They will improve, but will never reach the Logan square level.
Why? It’s Chicago. Rich yuppies can stomach the west side of town, but not the south.
Just reality.
Few if any commenters here have traveled south of Cermak and have no familiarity of over half of the Chicagoland area. Most of the talk here seem to focus on what’s already interesting for rich, white, fearful people … not taking a chance on a less popular neighborhood, much less investing in a community and being a good neighbor.
” but distinctly non-trendy, fuddy-duddy, and dull Hollywood Park and Peterson Woods languish on the market at similar price.”
—————————
Peterson Woods is under the flight path to O’Hare, isn’t it?
“Few if any commenters here have traveled south of Cermak and have no familiarity of over half of the Chicagoland area. Most of the talk here seem to focus on what’s already interesting for rich, white, fearful people … not taking a chance on a less popular neighborhood, much less investing in a community and being a good neighbor.”
————————–
That’ll change when Bucktown is expanded into the South Side.
“Peterson Woods is under the flight path to O’Hare, isn’t it?”
And this will be the game changer that opens up the south side. All those pleasant north side areas from Sauganash to Ravenswood are under constant approach traffic to OHare, and I mean constant. Like 4 jumbo jets across and every 30-60 seconds. Eventually Midway will become charters and private jets and a new south suburban airport built ( I know, boo hiss, but it’s inevitable) and the south lakefront will be the last quiet area of the city. It may take another generation but it’s going to happen.
The jet noise in the entire Northwest side really is horrible. I was walking around Jefferson Park and you hear loud airplane noise for around 45 seconds of every minute.
“Eventually Midway will become charters and private jets and a new south suburban airport built ( I know, boo hiss, but it’s inevitable) and the south lakefront will be the last quiet area of the city. ”
————————
If Midway is charters and private jets and maybe some air freight, it will still be reasonably quiet. There just won’t be the traffic volume to make it noisy.
There won’t be a south suburban airport until you get high speed rail from Peotone to Chicago.
“The moral of the story is to buy into the neighborhood before it becomes “hot” or “trendy”. You could have bought almost anything you wanted in Wicker Park in the early 90s, or Logan Square, for next to nothing. But those who dared to take a chance on areas that were no way a sure bet, scored very big in just a decade or two.”
The moral of the story is to get in and out of these marginal hoods before the music stops. Anyone that thinks that a place like this doesn’t get absolutely crushed in the next market correction is delusional
I can see a bike messenger and Barrista NINJA’ing this and impressing all their friends.
“Ha private garden my ass.”
The garden looks better in the 2009 listing pictures because it was lush and green. You can see the pictures in the prior chatter.
What does that have to do with anything? The back yard looks like crap even in the winter you can see partially cut down trees, retaining wall block falling apart and some half assed flagstone path.
The correct adjective here is “Neglected”
“Anyone that thinks that a place like this doesn’t get absolutely crushed in the next market correction is delusional”
———————
Logan Square will have some air escape the souffle, but it won’t get crushed. Logan Square was starting to develop in the early 90s, round the same time as Bucktown. It’s not a flash in the pan.
That’ll change when Bucktown is expanded into the South Side
South Bucktown or Bucktown South?
Logan Square will have some air escape the souffle, but it won’t get crushed. Logan Square was starting to develop in the early 90s, round the same time as Bucktown. It’s not a flash in the pan.
Wont go down to zero but it def wont support $800k crapshacks
“Anyone that thinks that a place like this doesn’t get absolutely crushed in the next market correction is delusional”
So, in 06/07, some Logan Square teardowns were getting (fraudulent) loans at valuations comparable to teardowns in North Center and Lake View–around $600k. The ones that were legit were mostly mid- to high- 300s.
It looks like recent teardown values in LS are still in the mid to high 300s, except super prime locations. So, in real dollars, about 25% less.
This place, on a bigger lot, would probably be high 300s as a teardown/vacant–give the benefit of the doubt and call it $400. It claims 3000 sf, which seems about right, counting the basement, but is probably about 2200 of fully finished space. IMO, reasonably updated, vintage-y places are selling for ~$130 to $150 psf of finished space above land value in B/B+ GZ locations (brand new, luxy places are more like $200 psf above land). Let’s credit them their full 3000 sf, but knock the psf down a little for the basic basement–I think fair value for the improvements is about $350k or so.
The big swing in ‘normal’ home values comes from a shift in the dirt value. If the next downturn leads to basically a complete halt in home building (genuinely possible in Chicago, for several reasons), the buyers will only be grave dancers, buying the dip, and I could see Logan dirt dropping 75% and wiping out $300k of ‘value’ from this place. But the improvements would still be worth about the same.
“It seems pretty obvious that Bronzeville, including the Gap, Oakland, Woodlawn and the South Shore will be very different in 10 or 15 years.”
These neighborhoods will have to become a whole lot less segregated before they reach any level of Logan Square’s “hot” and “trendy”. I don’t know how that’s going to happen.
“I don’t know how that’s going to happen.”
There’s a huge disadvantage compared to Logan–there isn’t an underutilized retail strip to provide restaurant/entertainment anchors along the route from the loop, preferable close to the El. Look at State and Michigan south of the Stevenson (and King for that matter, but its fairly far from the El). There’s basically *nothing* left from before the Dan Ryan was built.
Yes, I do realize that that is because of racist urban redevelopment policies, but that doesn’t change the current challenges–there is very, very little historic/cool building stock on commercial streets east of 90/94 and south of the Stevenson until at least Pershing–and then you’re more likely to get the growth from Hyde Park/Kenwood ‘expanding’ northward.
What will it take? Whatever goes into the Michael Reese space needs to be both a destination, and reasonably integrated into the existing community (*hard* bc of the Prairie Shores Schaumburg-esque sea of parking). Something has to change about Dunbar. “Obama Center” should be (1) “center & presidential library” and (2) in NW corner of Washington Park. BRT or (preferably) light rail on King Drive from Washington Park (I’d continue it across to UC Hospital) all the way up past McCormick to the secret roadway under Millennium Park and into Millennium Station (yes, somewhat duplicative. making transit extra accessible will make things more appealing). E-W rapid transit to MDW–its 4 miles from 63d & Ashland to Midway–figure it out.
That’s obviously billions of investment, but that’s how you kickstart (ahem) gentrification. Which is an enduring issue with taking such significant steps–the political fallout, even if the $$ just magically appeared.
It’s pretty obvious that most of the chatterati don’t go south much. Washington Park and Woodlawn are seeing massive price increases (and were long before the OPC) and infill – I see white families walking around west of Washington Park now. Last time I drove through Oakland I only saw white kids playing in the parks (yeah, anecdotal, but that wouldn’t have happened ten years ago). Most of the gentrifiers at the start were black, but white families priced out from HP and from the north side are more than trickling in. It’s all that darn Alderman Preckwinkle and her parade of homes back in the 90’s….
From Douglas all the way south, pushing past Woodlawn has been on fire!! I’ve been watching the area for last couple years. Too bad my money was tied up, because, it was 2017 v 2018, 20% avg increase in values. There’s a lot of building going on. From 35th south, huge pockets have been designated as Opportunity Zone. There was movement prior to that, so it’s really taken off.
Easy, quick access to downtown, as well as easy access to Dan Ryan and up to 290/94. LSD is not a crowded traffic jam coming up from the south. 2 spectacular pedestrian bridges have gone up over LSD. Obama Presidential Center coming. There’s just some incredible SFHs available, like the big, old greystones. There’s a lot to like.
No, it’s not crammed full of useless boutiques and a cafe on every corner, but Hyde Park is a fantastic hood for all that, But there’s growth happening, i.e., new Marianos in Bronzeville, ,,,
People have already made serious profit and you can only do that before all the trendy, little retail shops and stuff like that come in.
“South Bucktown or Bucktown South?”
——————
Nope. Just “Bucktown.” Sabrina will explain it to you.
I think the Southside has odds stacked against it, easily….
Wouldn’t we start seeing more development in the near west side / little Italy / tri Taylor area increase before we started seeing million dollar homes in say, bronzeville? I’ve noticed a uptick in development more on the near west side areas, my guess is because of proximity to downtown / west loop/ Fulton.
Not saying bronzeville becoming gentrified is impossible.
I was talking to my dad about this today, and he told me when he was a young resident in the city in the 80’s, the area around LSD and Roosevelt ( prairie ave ) with multi million dollar condos, all the way south towards mccormick was referred to as ‘satans mile’ and was basically all drugs, hookers, etc. That was only 30 years ago or so…Maybe bronzeville will look completely different in 10-20 years.
“Wouldn’t we start seeing more development in the near west side / little Italy / tri Taylor area increase before we started seeing million dollar homes in say, bronzeville?”
There’s a big development going in west of Tri-Taylor this spring/summer with single family homes starting at $650,000. These are the square box “modern” homes they were building all over the Ukrainian Village and West Town area just after the bust that started at $425,000 to $450,000 and were designed to be starter homes.
No one talks about starter homes anymore. All of these homes are for the upper middle class now.
In Bronzeville, they are building $550,000 to $650,000 right now. I will get down there and do some posts when the weather improves. I hate taking pictures in winter with the snow and gloom. ha! I will do it if I have to, but it’s so much nicer with at least a little greenery.
You don’t need to see million dollar homes for a neighborhood to be hot and up and coming. That’s the reason it’s up and coming.
“People have already made serious profit and you can only do that before all the trendy, little retail shops and stuff like that come in.”
Yes. This. The opportunity in Wicker Park/West Town was when Milwaukee Avenue was a dump. When a Starbucks finally went in at North and Damen the locals threw bricks through the windows and complained of gentrification. Lol.
That’s when you buy.
“Washington Park and Woodlawn are seeing massive price increases (and were long before the OPC) and infill – I see white families walking around west of Washington Park now.”
Yes. It’s already been happening for a while. But it should really pick up steam over the next 10 years. Some of the housing stock is amazing. Also, if they re-hab the Michael Reese hospital plot, which is expected to happen, it’s going to get even better there.
“These neighborhoods will have to become a whole lot less segregated before they reach any level of Logan Square’s “hot” and “trendy”. I don’t know how that’s going to happen.”
When was the last time you were there?
Someone is buying the $650,000 houses in these neighborhoods. Maybe it’s upper middle class African American professionals. Or white, Asian or Hispanic professionals. I don’t know. But someone is paying that.
“Someone is buying the $650,000 houses in these neighborhoods.”
$650k+ sales of SFH and THs in the last 3 years for the following area:
North: 31st
West: Dan Ryan
East: LSD/Cottage Grove south of 43d (ie, excluding Kenwood)
South: 47th/43d
26.
But it’s accelerating you say?
Last 2 years = 19
Last year = 13
Yes, it’s accelerating. From one every 2 months, to one a month. Hawtt!!
I almost bought in North Kenwood 20 years ago. Glad I didn’t. Much like Roger Parks; Bronzville, North Kenwood, etc have been in this perpetual state of supposedly turning the corner to become a hot neighborhood.
I know quite a few people who lost their asses buying in Washington Park, Kenwood, etc. The neighborhoods never turned around and crime has been a constant issue.
I do think Hyde Park is looking good, but not so sure it is going to trickle over outside of the main microhood boundaries. I guess if you have 20 years to wait it out, but the typical buyer doesn’t have that kind of timeline.
The updates all seem very DIY – – great for DIY, but I just don’t find them showing well enough to warrant the premium and don’t get me started on a freaking microwave hood vent.
Otherwise – – love the facade of this house and a small amount of elbow grease yields a lush garden in the warmer months.
I think this is also a case where if the folks living here put their stuff in storage and then rented nicer stuff to stage it up, they would get much closer to their ask. There is something depressing about seeing college-studentesue couches in a home asking $800K.
If these guys were smart at all, They’d spend around 20k and do the following:
1. Replace all those gross fans with ‘trendy’ lighting from west elm or wherever.
2. Paint the kitchen cabinets white and swap the granite countertop one for a white or quartz one. Paint the brick in the kitchen area white as well.
3. Throw up some generic, modern art on the walls.
4. If possible, cover up that disgusting basement floor with some rugs, or SOMETHING. It looks like a garage.
Do that and they’d get a lot closer to this nutty ask.
How many total have sold anon(tfo)?
If you only have 20 $4 million homes sell in Chicago in 2016 and 25 sell in 2017, is that not “hot?”
Because everyone has been saying that the upper bracket is super hot when, overall, the numbers sold haven’t really increased all that much. But for the Chicago market, it DOES indicate hotness.
Similarly, if a neighborhood hasn’t had a $650,000 property sell in it in 10 years and then 10 years later now has 13, then, yes, I would say something big is changing and it’s hot.
But you can be in denial about it all you want. I’ll be covering the neighborhood more later this spring when the weather gets better, as I said, because it’s among the hottest neighborhoods in the city right now.
And if any of you are serious about getting “in” to a neighborhood before it explodes, then you should be paying attention.
But I doubt any of you really walk the walk. You’re too happy and cozy living in your upscale, already gentrified neighborhood. Nothing wrong with that, but you don’t have the guts to actually buy in any up and coming neighborhood so let’s not argue that you do.
And if any of you are serious about getting “in” to a neighborhood before it explodes, then you should be paying attention.
A lot of us are paying attention, that’s why we’re saying F’ no to over priced crap shacks in marginal hoods. There’s no juice for the buyer here as the pricing has full gentrification baked in and it’s in need of a remodel to justify its price.
But I doubt any of you really walk the walk. You’re too happy and cozy living in your upscale, already gentrified neighborhood. Nothing wrong with that, but you don’t have the guts to actually buy in any up and coming neighborhood so let’s not argue that you do.
It possible that we think it’s a shit investment and are taking a hard pass
Or maybe we’ve been there and done that and don’t feel like chasing that dragon down the hole.
PS If $800k marginal homes are the going rate for LS, you’ve already missed the boat
“Similarly, if a neighborhood hasn’t had a $650,000 property sell in it in 10 years and then 10 years later now has 13, then, yes, I would say something big is changing and it’s hot.”
The last time it happened, it was indications of a massive fraud.
Here’s a not too recent sale that’s a decent for example:
https://www.redfin.com/IL/Chicago/3714-S-King-Dr-60653/home/14071202
It’s $675k of improvements on a $75k lot. It’s a nice house, and in a similar-ish row in the Gold Coast would be a close to $2m sale, but would still be ~$700k of improvements on a $1m+ lot.
Yes, land speculation is where you make money–and lose money–in real estate. When you are doing it with your primary residence, you are also living in the transitional neighborhood.
Yes, the place I picked is a *great* location within Douglas–two blocks from both of the grocery stores, on a stretch with the side drives, about halfway between HP and SLoop so that both are about 10 minutes away. It still only fetched–as a brand new reno–basically the retail price of the improvements. The developer did fine–turned it around quickly, etc. But the proof is in the resale.
Here’s a resale:
https://www.redfin.com/IL/Chicago/827-E-Oakwood-Blvd-60653/home/26823242
[yes, I am basically trolling with this one]
Sold for $1.4m in 2007, resold for $725k in Oct-18, Redfin estimate now $660k.
HAAAAWTT!!
PS: NO there was not a foreclosure!!
“The last time it happened, it was indications of a massive fraud.”
I wasn’t looking at the old sales. Nor do I care. I care about the current trends. And they are building $600,000 rowhouses, you nimwit. Someone is actually, gasp, buying these.
Why?
Because the neighborhood is hot.
If you all want to be in a neighborhood that could see big price increases, then buy now. But more likely, 5 years from now, you all will be complaining on here that you “should have” bought on the South Side all those years ago.
https://www.redfin.com/IL/Chicago/4311-S-Calumet-Ave-60653/home/170486242
When’s the CC housewarming party for your new Bronzeville TH?
Or are you not walking the talk?
” If the next downturn leads to basically a complete halt in home building (genuinely possible in Chicago, for several reasons),”
would love to hear a couple of the reasons?
OTTOMH: #1 Property tax increases #2 dysfunctional state and city government #3 age old concerns about CPS?
HAAAAWTT!!
pretty please please stop – I get images of P Hilton cashing in on being a terrible DJ every time I see HAAAAWTT!!
“I get images of P Hilton cashing in on being a terrible DJ”
More like P Hilton working the Glengarry leads.
They’re all in Bronzeville.
“But more likely, 5 years from now, you all will be complaining on here that you “should have” bought on the South Side all those years ago.”
hahaha
yeah everyone is just dying to live on the south side, with its terrible schools, and tons of crime
why not go west of the west loop if you want that, with a much larger chance of actual gentrification
the south side is an island that until all the blacks move out, will never be occupied by white yuppies and hipsters, its just how they are. They’ll move to a mexican neighborhood way before that.
“would love to hear a couple of the reasons?”
Yeah, those, plus income tax, corruption, the effect on all of those on lending, lead in the water, even hometown RE funds publicly noting they are shifting focus away from Chicago, etc etc. Think there is a real chance of PHX/Vegas style halt to new stuff, with a bit of a harder lift on the rebound, bc of population dynamics.
Any two or three of those wouldn’t be a ‘problem’, but add everything up, and there is real risk, imo.
“they are building $600,000 rowhouses”
Now the number is $600k.
Total current listings b/t $550k and $650k, same area: 15. (over 600 = 4)
12 month sales: 25. (over 600 = 11)
“I wasn’t looking at the old sales. Nor do I care.”
Yea, of course not, no need to look at recent history–can’t learn anything from that. Because the measure of what is hot is what brand new product sells, not what an actual homeowner can re-sell for.
Improvements are a depreciating asset, land is volatile, and until land values in B’ville move off of “about $50k per lot”, hot ain’t reality.
The heart of Bronzeville has been part of the Large Lots program, witht eh city selling vacant lots for $1 as recently Fall 2019. If that isn’t the definition of not-hot, I don’t know what is.
@anon (tfo) – you’re right. Plenty of $1 Bronzeville lots:
https://largelots.org/
“Improvements are a depreciating asset, land is volatile, and until land values in B’ville move off of “about $50k per lot”, hot ain’t reality.”
Lol.
Except it actually IS among the hottest neighborhood in the entire city. At least it was in 2019. You are wrong dude. Just give it up. Developers are throwing up new projects. It’s where people are moving. I hope they were buying the $1 lots because that’s a cash cow for them.
Here you go. Read and enjoy.
https://www.chicagobusiness.com/residential-real-estate/meet-builders-bronzeville
“yeah everyone is just dying to live on the south side, with its terrible schools, and tons of crime”
Yeah- and in 1990 everyone was dying to live in Wicker Park with its gangs, boarded up retail and shootings?
Lol. Laughing my ass off.
Yes. They are dying to live on the south side. And the schools aren’t “terrible.” You have no idea what you’re talking about sonies.
Pritzker just released $500 million for The 78. They have lined up another $280 million. That’s nearly a billion, already, that will go into that neighborhood. It will have the tech expertise of the University of Illinois and thousands of apartments/condos.
It’s just minutes from Chinatown, which should boom, and, gasp, Bronzeville.
The area is going to be completely transformed. Will take 10-20 years as Lakeshore East has taken that long, but it will happen.
And if you went to Bronzeville today, you’d see the “hipsters” at the Mariano’s that is in that neighborhood. Of all colors, actually.
“#3 age old concerns about CPS?”
What age old concerns about CPS?
That is so 20 years ago! My god.
Even 10 years, if your kid didn’t get into the top 4 high schools, there was a good possibility of moving to the suburbs. But now, no one cares. Their kid goes to one of the other high schools, many of which are considered perfectly fine now. Even including Lincoln Park High and Lake View High.
Families are NOT moving out of the city because of the schools and haven’t been for some time now. Get with the program.
“When’s the CC housewarming party for your new Bronzeville TH?”
I’m looking. I have a friend who just bought in the South Shore. It’s not near public transportation though, which is a big deal for me.
“I’m looking. I have a friend who just bought in the South Shore. It’s not near public transportation though, which is a big deal for me.”
So not walking the talk…
Buy now or be priced out forever
“Here you go. Read and enjoy.
https://www.chicagobusiness.com/residential-real-estate/meet-builders-bronzeville”
LOL Some big time developers talking their book
These shitbirds will disappear leaving others holding the bag when things start to thaw.
“But now, no one cares.”
Sure, “no one”. Which explains all of the families in my kids’ classes who move to the burbs when the kids are in 5, 6, 7.
Such bizarre absolutes!
““Here you go. Read and enjoy.
https://www.chicagobusiness.com/residential-real-estate/meet-builders-bronzeville””
LMAO.
That’s basically a commercial for those builders. Wonder what they have to pay to get that article published.
I’m not saying gentrification won’t happen on some level in bronzeville – it probably will. Especially the parts closer to the lake and closer to mccormick area. Just don’t think it will happen as fast as Sabrina predicts.
Sonies is correct that rich hipsters and yuppies would rather move in to the Mexican hoods than the African American ones. Just a fact. I’d put my money west of the west loop or in the tri Taylor area etc taking off a lot faster.
Bridgeport will gentrify before Chinatown or Bronzeville IMO
“Here you go. Read and enjoy.”
That has to be one of the ugliest new builds (on the exterior) I have ever seen:
https://www.redfin.com/IL/Chicago/4607-S-Calumet-Ave-60653/home/160516361
Inside is nice enough, but are $900k houses in wicker park really using $350 ranges? And really obviously cultured marble in the kitchen? I honestly don’t know.
Looking at the dirt under those 6 houses, their basis was about $22,000 per lot. So, the developer is making a killing, but that doesn’t necessarily mean that the homeowner is getting a good deal at all.
“Bridgeport will gentrify before…”
So here’s a solid Bridgeport comp to that Calumet house:
https://www.redfin.com/IL/Chicago/2913-S-Lyman-St-60608/home/14080889
Dunno which one of the interiors I prefer, but this one clearly looks better from the curb. Pic is such that you can’t tell if sides are brick or vinyl, but I would guess vinyl.
The lot cost $155k (typical B’port frame crapshack then), so the delta is right at the difference in the asking prices (although I’m sure the water/gas/electric was more costly on Calumet, as there wouldn’t have been existing SFH stubs).
Yea, Bronzevlle dirt is *a lot* cheaper. There’s a reason for that–part of which is there is so many other vacant lots, and decrepit properties. Is it a decent 20 year play? Sure. If you have an opportunity to get a buildable parcel for under $10k per standard lot, is that a decent play for a shorter term flip? Of course. But until standard lots are trading over $100k, it will remain, at best, “Detroit hot”, which ain’t actual hot.
“Detroit hot”
Is probably the best description of Bridgeport.
That house on Calumet it the textbook definition of polishing a turd
that house on 4607 calumet is also a model home, you can see all the awesome “ceiling options” there and the clearly staged furniture and highest end finishes… I can’t even imagine how crappy the base finishes are
“Is probably the best description of Bridgeport.”
I meant that for Bronzeville, in relation to Sabrina’s braying about how haaaawwwttt it is, and calling all who disagree with her view nitwits and fools.
The developers unloading places like the one mentioned in the article are certainly doing *quite* well. But so long as you can buy a standard lot for well under $50k, every homeowner of one of those new homes without a 20+ year ownership horizon will do well to break even.
And there are a *ton* of vacant lots–hundreds of them with delinquent taxes, and likely to be available at a scavenger sale. At the current rate of construction and sales, it would take 20 years to make a serious dent, and that’s assuming no recession (which is highly implausible).
““Detroit hot” Is probably the best description of Bridgeport.”
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I always thought “Detroit hot” was a euphemism for arson.
“I’d put my money west of the west loop or in the tri Taylor area etc taking off a lot faster.”
Garfield Park has real issues currently, especially crime, but eventually it will look like Ukrainian Village.
They are building $550,000 new homes just west of Tri-Taylor so I’ll cover those once they break ground on them later this spring.
“Sure, “no one”. Which explains all of the families in my kids’ classes who move to the burbs when the kids are in 5, 6, 7.”
At age 5? WTF. Why?
Did they get into a crap grade school? If that’s the case, then, okay. But that would be odd. Just live on the north side and you’re fine unless, as I said, your child has special needs. Then, I’ve found, the suburban schools are much better able to handle it. They’re richer and have great resources including things like full time in-class aides etc.
Statistics have shown that families are no longer fleeing because of the schools, at least in most neighborhoods. Again, that’s why it wasn’t an issue in the last Mayoral race. Probably for the first time in like 60 years.
“Sure, “no one”. Which explains all of the families in my kids’ classes who move to the burbs when the kids are in 5, 6, 7.”
Also, if young families were fleeing like they used to in 2005-2010, there would be a LOT of those starter 2-bedroom condos on the market all over the north side. And, honestly, there simply aren’t. It’s not what it used to be like during the housing bubble. People are staying in these units. Even raising their kids in them now.
Their jobs are in the city. Who wants to move to the suburbs and commute? No one.
“Buy now or be priced out forever”
I love where I live but I’m always looking which is why I run this site.
But I’m also not saying things like, “if only I had bought in Wicker Park in 1988” or the other stupid statements made on this site.
No one posting here has ANY idea what it’s like moving to a gentrifying neighborhood that hasn’t gentrified yet. NONE. People here can’t even imagine living in Edgewater or Albany Park, for goodness sakes. And those are mostly gentrified. Lol.
I’m tired of the bitching. Either look for deals and have the guts to move to a neighborhood that is turning around or just live in Lakeview. Nothing wrong with Lakeview. It’s great. But you’re not getting a “deal” in that neighborhood.
“No one posting here has ANY idea what it’s like moving to a gentrifying neighborhood that hasn’t gentrified yet. NONE. People here can’t even imagine living in Edgewater or Albany Park, for goodness sakes. And those are mostly gentrified. Lol. ”
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I moved to Bucktown (North of Armitage, thank you) in 1987, so you’re wrong.
“At age 5? WTF. Why?”
Hey dim bulb, “in 5, 6, 7” in reference to classmates, pretty damn clearly refers to grade levels.
“Also, if young families were fleeing like they used to in 2005-2010, there would be a LOT of those starter 2-bedroom condos on the market all over the north side.”
overall, people are having the least amount kids ever, the number of homes for sale is at a low point, and the number of people moving is at a 60+ year historic low, and yet I still see tons of cribs in your posts even though most of it is high priced luxury property with plenty of space to house a family. Most people unless they are extremely wealthy aren’t sticking around the city and CPS when they do have kids. Its just not feasible or practical for most.
“Most people unless they are extremely wealthy aren’t sticking around the city and CPS when they do have kids. Its just not feasible or practical for most.”
You swing too far the other way.
It’s not “most”, and in sure ain’t “no one”, with kids leaving the city.
CPS is a viable option for anyone who *could* by in New Trier, Hinsdale, Park Ridge (ie, those who have the wherewithal to live in a “good” attendance area), through 8th grade. Then, for those whose kids get into SEHS, it’s great, for some number of others it’s sufficient, and then for another consequential number they either don’t want to put their 12 yo thru ivy-league-admissions style stress, just don’t want to have their kid go to a city school or whatever.
We’ve watched dozens of families leave for the burbs when their oldest kid hits (for those who don’t read context) 5th, 6th, 7th grade. We also know more who have stayed–but *a lot* of those kids end up at one of the catholic HS’s–more than go to ‘neighborhood’ HS’s, even in special programs (IB, etc).
“I’m tired of the bitching. Either look for deals and have the guts to move to a neighborhood that is turning around or just live in Lakeview. Nothing wrong with Lakeview. It’s great. But you’re not getting a “deal” in that neighborhood.”
An $800k crapshack (And its a crapshack) in a marginal/gentrifying ‘hood isn’t a deal, is it? Without a major renovation to make it like “New” how much appreciation is left for the buyers?
Sometimes you are very dense.
“CPS is a viable option for anyone who *could* by in New Trier, Hinsdale, Park Ridge (ie, those who have the wherewithal to live in a “good” attendance area), through 8th grade.”
but thats my point… you’re talking about what, 5% of the population?
“you’re talking about what, 5% of the population?”
So is Sabrina, really.
I’d put it at about 10-15%, tho. And given that only half of Chicagoans own, we’re talking about something like 20-25% of owners/potential owners.
“An $800k crapshack”
Logan Square has obviously gentrified. We were talking about neighborhoods that haven’t yet.
closed for $750k
“closed for $750k”
So it’s a $750k crapshack I guess
PT Barnum was onto something
Good luck to the buyers, they’re going to need it