Trying to Sell a 4-Bedroom Rowhouse Less Than 3 Years Later: 2423 W. Grenshaw in Tri-Taylor
This 4-bedroom vintage rowhouse at 2423 W. Grenshaw in the Tri-Taylor neighborhood has been on and off the market for nearly a year.
Built in 1900, the rowhouse has 10 foot ceilings and hardwood floors on a 20×125 lot.
It also has 2 fireplaces, skylights and a walk-out basement.
3 of the bedrooms are on the 2nd floor with the fourth in the lower level, along with a family room.
The kitchen has maple cabinets and stainless steel appliances.
It has central air and a 2-car garage.
Bought in 2008 for 25% under the 2006 purchase price in a distress sale, this seller will now also see a loss as it is listed $8,000 below the 2008 purchase price.
What will it take to sell this rowhouse?
Craig McShane at Fitzgerald Real Estate has the listing. See the pictures here.
2423 W. Grenshaw: 4 bedrooms, 3 baths, 1800 square feet, 2 car garage
- Sold in May 2004 for $345,000
- Sold in January 2006 for $425,000
- Lis pendens filed in September 2008
- Sold as a short sale in October 2008 for $315,000
- Originally listed in April 2010
- Currently listed for $307,000
- Taxes of $2300
- Central Air
- Bedroom #1: 14×15 (second level)
- Bedroom #2: 13×11 (second level)
- Bedroom #3: 11×8 (second level)
- Bedroom #4: 9×12 (lower level)
- Rec reoom: 9×13 (lower level)
What’s with that cinder block cornice?
How are the taxes so low?
“Bought in 2008 for 25% under the 2006 purchase price in a distress sale, this seller will now also see a loss as it is listed $8,000 below the 2008 purchase price.”
And he also saved 60k+ in rent…
How could this have actually sold for $425,000 in 2006? Mortgage fraud? I didn’t think this area would have prices anywhere over $250k. If it was 6 blocks east, it might sell for $300k.
many crimes (architectural, financial, and otherwise) have been committed here
“And he also saved 60k+ in rent…”
And paid 10k+ in taxes, and will (likely) pay 15k plus in realtor fees and (likely) paid $100k in interest.
oops, looked at the wrong date/price. $6k in taxes, $15k realtor, $40k in interest.
“oops, looked at the wrong date/price. $6k in taxes, $15k realtor, $40k in interest.”
Right. So, it is about a wash.
I just don’t see what the upside is to owning here in this location. It’s not exactly a desireable area.
“Right. So, it is about a wash.”
Well, it’s a $8k loss, if this sells at current ask, and I doubt it will. Wouldn’t be surprised to see it go to the bank again.
I don’t consider anything past Western to be Tri-Taylor, it’s too far west.
I agree, this is NOT Tri-Taylor.
“I don’t consider anything past Western to be Tri-Taylor, it’s too far west.”
“I agree, this is NOT Tri-Taylor.”
Wiki sez to the tracks.
If it’s not Tri-Taylor, what is it?
Place feels very dark and cramped. OPEN the window treatments and let some light in when taking the pictures.
Are those tears I see next to the upstairs windows? This poor house just wants it’s cornice back. So, so sad.
Tell me about it.
“OPEN the window treatments and let some light in when taking the pictures.”
They are probably afraid of the immediate area, possibly what could be out on the street or across the street. I wouldn’t ever even enter this street for fear of my safety.
Also removing some of that bulky furniture (say the sectional) can help too. It makes the house seem so snug.
“I wouldn’t ever even enter this street for fear of my safety.”
Clio, clio-mockery, or wanting to be mocked like clio?
Tri-Taylor
North Boundary: ~400 S Eisenhower Expressway
South Boundary: 1200 S Roosevelt
East Boundary: ~1900-2300 W Ogden
West Boundary: 2400 W Western
“Tri-Taylor
North Boundary: ~400 S Eisenhower Expressway
South Boundary: 1200 S Roosevelt
East Boundary: ~1900-2300 W Ogden
West Boundary: 2400 W Western”
If it’s not Tri-Taylor, what is it?
Its Lawndale.
This is lawndale and it’s not worth $250K. Wow
“Its Lawndale.”
Nope. Lawndale only goes to the tracks.
See: http://www.cityofchicago.org/content/dam/city/depts/doit/general/GIS/Chicago_Maps/Community_Areas/CA_NORTH_LAWNDALE.pdf
If you click on the “birds eye view” at the bottom of the page by the map, you’ll see whats in front/behind it, etc. Looks like some kind of lot for tractor trailer behind it.
It’s in the Near West Side community area, although very barely. It is in the Tri-Taylor neighborhood.
“Tri-Taylor, the western end of Taylor Street’s Little Italy consists of the area bordered by Congress Parkway to the North, the diagonal Ogden Avenue to the East, Roosevelt Road on the south and railroad tracks on the west.”
http://www.redfin.com/IL/Chicago/2423-W-Grenshaw-St-60612/home/13258126
It’s also located conveniently near the Cook County Juvenile Court & Detention center, a much appreciated neighborhood amenity and easily justifying the ask price. LOL.
There doesn’t seem to be a closet next to the front door. Where am I supposed to keep the baseball bat and loaded 44 – under the couch?
“Where am I supposed to keep the baseball bat and loaded 44 – under the couch?”
The 44 goes on a chain right under the peephole; and you get an umbrella stand for the bats.
Besides the convenience of having the detention center nearby, as someone already noted, there’s a beautiful abandoned industrial site just a block west (or so it seems from the satellite photo) that would make a perfect place for your children to play in the years before they end up at the detention center.
I just noticed that 2417 Grenshaw is also on the market for $429,000. Makes this one look like a bargain:
http://www.redfin.com/IL/Chicago/2417-W-Grenshaw-St-60612/home/13257784
One more comment on the location:
I used to be a reporter for the City News Bureau of Chicago, covering crime. My job was to hang out at various police stations each night between 5 p.m. and 2 a.m. to report on any crimes the police were investigating. Of all the police stations I went to (and I was in a lot of neighborhoods on the South Side), none was in as scary a neighborhood as the 11th District station on the 3100 block of West Harrison. That station is about a mile west of this property.
Maybe the area has improved since those days I was covering my beat back in 1994, but I haven’t heard anything to convince me otherwise.
check out the streetview here, and face it north… interesting architecture on this block LOL
“Maybe the area has improved since those days I was covering my beat back in 1994, but I haven’t heard anything to convince me otherwise.”
Um, ABLA (and maybe Horner) was in that district and no longer exists. The area has *definitely* improved, but I dunno enough to specifically refute.
I’m not saying that this is where I would choose to live, but this could be a good choice for someone that works at the juvenile detention center or in the medical district or at UIC or one of several things around here and doesn’t make too much money but wants a single family house. Earlier everyone was ripping on Logan Square, now Tri-Taylor. PLEASE realize that not everyone wants to nor can live in the GZ! People choose to live here because it is close to their work or family and/or is a place they can afford.
I love CC but I am really getting tired of the elistist/snobish/racist comments today. Can’t people stick to real estate, and realize that not everyone chooses or can live in what YOU consider an ideal location? Step outside your own shoes for a minute!
anon (tfo) on April 4th, 2011 at 4:46 pm
“Um, ABLA (and maybe Horner) was in that district and no longer exists. The area has *definitely* improved, but I dunno enough to specifically refute.”
The ABLA high rises are gone, but the row houses and two 7-story buildings still exist. They’re also in the 12th District, and the Horner homes were in the 13th District, not the 11th District.
Rockwell Gardens was in the 11th District, but has been replaced with private section 8 housing with many of the same crime problems that the projects faced. This part of the 11th District is one of the better parts, but it’s still very block-by-block. One block might be quiet, the next block over might have people hanging out slinging drugs on the street. That being said, even if you’re in the better part of a busy police district (the 11th District is always one of the top districts for homicides), you can still count on longer police response times.
This rowhouse and its neighbor are an example of “urban-pioneering”, not “gentrification”. Not enough potential for real estate reinvestment to transform area; ad-hoc rehabs on a block-to-block basis. This area is so patchy, with neighboring truck yards, scrap yards, abandoned lots, brownfield industrial sites, heavily trafficked Western, and little continuity of homes, that true neighborhood revitalization will never be realized.
When I visited friends in this area, a roving gang of teens rowdily passed by, menancing, checking out parked cars while we watched. Our friends’ house was a fortress – high privacy fence, locked gate, security alarm, bars on lower windows in back. Not my idea of home sweet home. Some nice blocks of surviving rowhouses though.
This area IS considered Tri-Taylor. It has definitely gentrified quite a bit, albeit block to block, and therefore the police response time is, surprisingly, quick. I really think this area has great potential. Aside from the “awesome” proximity to the Juvi Center, it is extremely close to the Medical District, UIC and the FBI headquarters, as well. Commuting to downtown is also a breeze.
I think that this house would be a decent sale at $300k. As another poster stated, there are a few blocks of nice surviving row homes. They are probably not in the best shape inside, being over 100 years old. It is not cheap to do a gut rehab well, and the likelihood of scoring one in bad shape under $150k in this area is unlikely. This is fully rehabbed and nicely, at that, though I do agree that the cornice is sad. 🙁
“none was in as scary a neighborhood as the 11th District station on the 3100 block of West Harrison. That station is about a mile west of this property.
This property isn’t in a good neighborhood but it’s no 3100 West Harrison.