“This Is The Real Chicago”: A Bank Owned 2-Bedroom at 2211 N. Clybourn in Lincoln Park
We last chattered about this 2-bedroom duplex up at 2211 N. Clybourn in Lincoln Park in November 2010.
See our prior chatter here.
Back then, it was a short sale but it never sold. Thanks to Bob for pointing out that it had recently come back on the market- only as a bank owned unit.
This is one instance where waiting to buy meant you would get a much lower price as it was listed at $265,000 as a short sale in 2010 and is now listed at just $206,000.
It is a Fannie Mae Homepath property. Just 3% down gets you in.
The listing says this is the “real Chicago”.
Could that be a refernce to the famous pizza place that is located just two doors down from the property? (hint, hint: Pequod’s)
There is also a Starbucks almost right across the street as well as the Webster Place movies and Barnes & Noble bookstore just a half a block away.
The listing says the “elegant charm will blow you away.”
At 1400 square feet, the living/dining and second bedroom is on the main floor.
It duplexes up into a huge loft like master bedroom with an exposed wood beamed ceiling, exposed brick and a brand new master bathroom.
The kitchen has white cabinets and stainless steel appliances. From the pictures, it appears to still be intact.
There are 2 woodburning fireplaces, including one in the master bedroom, and a private rooftop deck.
It has central air and washer/dryer in the unit, but it doesn’t appear to have any parking.
Is this a deal at the current price?
Nichola Hansen at REO Plus LLC now has the listing. See the pictures here.
Unit #3F: 2 bedrooms, 2 baths, 1400 square feet
- Sold in April 2007 for $280,000
- Originally listed in June 2010 for $315,000
- Reduced
- Was listed in November 2010 as a “short sale” for $265,000
- Withdrawn
- Bank owned in October 2011
- Fannie Mae Homepath property
- Currently listed for $206,000
- Assessments of $219 a month
- Taxes of $3041
- Central Air
- Washer/Dryer in the unit
- Private rooftop deck
- No parking
- Bedroom #1: 23×23 (top floor)
- Bedroom #2: 8×15
If that’s the real Chicago, give me a few hours to pack my bags and GTFO of this town.
Picture 7 is definitely one of my all-time favorites.
“anonny – how did you like the zaaa?”
Ended up ordering shortly after the original thread on this property, but was…gasp…a bit disappointed. I liked the edges of the crust, but the rest of the crust just seemed so doughy (whereas the other good deep dish joints seem more corn-mealish), or bready. That said, the ingredients seemed very good, and I really should give the thin crust a try. Given all its fans, I’d also be willing to try the deep dish again, only this time I’d eat it there.
I visited this place last week. Honestly this place is so close to being super cool I entertained the thought briefly of picking it up.
The first floor is a small living room / kitchen combo with a small bedroom. Top floor is this awesome loft looking space with stairs that go up to a personal rooftop deck.
The problems:
1) Its on the 3rd floor of the building, and walking up those stairs you get a sense of vertigo….because the stairs are all angled. That was my first clue that there is something wrong with the building.
2) Get to the top, put the key in the door. The doorframe is trapezoidal, you can see into the apartment through the corner of the door. Yet again a sign that the building is shifting.
3) Kitchen needs to be redone.
4) Up the stairs to the loft area, the ceiling is sloped. My friend / realtor points out there is tar dripping between the seems of the wood ceiling. She says its probably because that ceiling is the actual roof. No insulation, no nothing just the roof.
5) Go over to the stairs to the deck (ducking because the ceiling is the shortest in that corner, and the stairs are essentially a ladder. You could not walk down them without going down backwards.
This place really is cool, but beneath the awesome lies a nightmare. AS YOU DIE WHEN THE BUILDING FALLS DOWN.
Stay away. This whole place needs to be torn down for safety.
WTF–picture of a lockbox? That’s a first.
I frequent nicer crack houses.
scandalous. Two mortgages totaling the purchase price of 280k. The April 07 (straw?) buyer has zero skin in the game, infinite leverage, is effectively long a ‘free’ call option on N Clybourn resi re, which happened to expire worthless. The loan originator(s), condo seller/developer & buyer ought to all be questioned on suspicion of larceny.
this condo closed April 10, 2007 — *after* FHLMC announced on Feb 27, 2007 that it’d no longer buy subprime loans and *after* New Century Financial filed Chapter 11 on April 2, 2007 — so the principals in this deal really had to hurry in order to pull off their scam, a heist in broad daylight.
Maybe this is the “real Chicago” for those who think Chicago residences typically resemble the one the Blues Brothers lived in. All this lacks is the L trains going by.
Carrie Fisher launching an RPG at it would be an improvement.
New Century made some *really* bad loans. they were notorious for letting fraudsters operate.
Two things: 1) What is the ‘warning’ sign taped over the toilet? and 2) I would rather kill myself than live in this crapshack.
So apparently “real Chicago” is a lot like “real Detroit” except nicer…
Were the pictures taken with a cell phone? The poor quality of the photos makes this place look even worse than it probably looks in person.
The tape says do not flush, because the pipes have been winterized.
“WTF–picture of a lockbox? That’s a first.”
Ha! ha!
I thought the same thing Chris M. In fact, I had to look at the picture several times just to figure out what the heck it was (since I’m not an agent I didn’t recognize it as a lockbox at first.)
The only thing I could figure is that they included it as a picture with the listing to say “see- there IS a lockbox” as many REOs are notorious for not having one.
lockbox also appears to be inside, so maybe that’s part of it too? ie, don’t look outside, agents, the lockbox is on the inside handle
Between photo 7, the terrible description (do you think this is a HomePath property??) and the Redfin Agent’s comment, I’m nominating this for most comical listing ever. I never thought anything would beat SURGE INTO THE RED ZONE.
This is a scary version of the “real Chicago”. I don’t know if this place will last another decade without having major repairs needed. Its worse than most cheap rentals too, and shouldn’t sell at all.
I remember when it was listed as a short sale. The photos were really attractive. It was tempting-looking. Just goes to show you what a difference furniture and good photos can do.
Better days:
http://www.urbanrealestate.com/property/2211-N-Clybourn-Unit-3F-Chicago-IL-60614-UVC5X5II4YOAW.html
Notice the “cockeyed” recessed light above the bathroom vanity and the awkward placement of the refrigerator in the kitchen. Looks like shoddy construction work to me.