Vintage English Cottage Goes Under Contract in Edison Park: 6477 N. Ozanam
This 2-bedroom English cottage at 6477 N. Ozanam in Edison Park is now under contract after being listed about 2 months.
The listing admits it “needs updating” but it has some good bones including hardwood floors, built-in bookcases and a wood burning fireplace in the living room.
The house was built in 1937 and the kitchen cabinets look original.
The listing indicates the family room and a half bath were added to the house at a later date.
It is built on an irregular Chicago size lot of 50x93x40x114 but does have a 2-car garage.
Both bedrooms are on the second floor.
The house does have central air.
It is located about 3 blocks from the Edison Park Metra Stop.
Was this a deal?
Kathleen Elster at Baird & Warner has the listing. See the pictures here.
6477 N. Ozanam: 2 bedrooms, 1.5 baths, no square footage listed, 2 car garage
- Sold sometime before 1988
- Originally listed in June 2010 for $300,000
- Reduced
- Currently listed for $285,000
- Under contract
- Taxes of $3723
- Central Air
- Bedroom #1: 16×10 (second floor)
- Bedroom #2: 11×9 (second floor)
- Living room: 18×13
- Dining room: 12×11
- Kitchen: 11×10
- Family room: 19×10
- Unfinished basement
Depends how much they actually got it for and whether or not it is easy to expand the number of bedrooms. For a house that needs updating, this one doesn’t look that bad. Probably more cosmetic than anything else.
Adorable house-don’t know anything about the neighborhood and wonder what the baths look like.
Wow a place with wallpaper sold, must be a polish neighborhood 8)
wallpaper is totally in right now.
“wallpaper is totally in right now.”
That’s like saying that jeans are totally in right now. There’s a big difference between the jeans that are in now and acid-washed rolled/safety-pinned jeans… THAT wallpaper is so far from in right now.
“THAT wallpaper is so far from in right now.”
Which makes it very in in a hipster-ironic sort of way. Is there an old-man bar nearby? How about a cool bike shop?
Ok, I’m too lazy to try to think through this or “research” it on the internet.
Why were wallpapers in (not in a hipster ironic way, but truly in) at some point and then not? Just the tides of fashion or for more fundamental reasons. The alternative now is paint right? It’s not that paint is SO much better now that it dominates wallpaper, is it?
Making me sleep in a room with that wall paper on the angled ceiling coupled with the flowery bedspread would be a trip!
Wallpaper aside it looks like someone found a nice home with the right amount of bedrooms and lot size for their needs. Not every family needs a third or fourth bedroom. I bet that someone could clean it up, add a few modern amenities and make a few bucks over the next few years. As you may know I am biased having grown up in Edison Park.
I glanced at the mortgage calcs on the listing page. Looks like someone making 44K can qualify. At 60K it could be a 15 year mortgage. Not impossible these days.
I just debated the 15 vs. 30 term with two friends recently and will likely do a 15 on my next home. Any thoughts or negative implications on that decision. This is obviously asuming you can comfortabaly afford the 15 year note!
“Why were wallpapers in (not in a hipster ironic way, but truly in) at some point and then not? Just the tides of fashion or for more fundamental reasons. The alternative now is paint right? It’s not that paint is SO much better now that it dominates wallpaper, is it?”
Seems all about fashion to me. The huge variety of paint colors is a relatively recent thing, too.
totally unrelated but does anyone know what 70 e scott 605 sold for last week? it was featured on this site a while back.
thanks!
That full screen photo viewer feature with the nice, high-res photos is AWESOME
that is a nice little house,with a bit of upgrading.i love the living room.sounds like a good deal for buyer and seller.those taxes are gonna go up a grand,i’m sure there was a senior discount on the current taxes.
I just debated the 15 vs. 30 term with two friends recently and will likely do a 15 on my next home. Any thoughts or negative implications on that decision. This is obviously asuming you can comfortabaly afford the 15 year note!
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i know this isn’t a mortgage forum,but this is kind of the same question i have. i’ve got 14 years left on my 30 year mortgage at a little above 6% rate.i’m thinking of doing a re-fi to a 15 year at 4.5% or whatever it is now.i have almost 40% of the mortgage paid off by now,so the payment would go down.the person at chase bank,suprisingly,told me *not* to re-fi.any thoughts on if its a good idea to refinance this loan?thanks.
“i’m sure there was a senior discount on the current taxes”
No senior freeze, but a LTO exemption kicked in last year. Taxes would have been about $2,000 higher w/o it. Basic senior exemption was only worth $192.64.
“but a LTO exemption kicked in last year”
how long is that requirement? and how do you apply for it? wanna see if my parents or uncle can get it (the already rock the senior freeze/exemption)
“That’s like saying that jeans are totally in right now.”
Beg to differ. Wallpaper was totally out for a long time and now high contrast 60’s and 70’s influenced wallpapers are very ‘in.’
http://www.apartmenttherapy.com/ny/at-email/best-wallpaper-2008-designers-sources-with-massive-links-063608
“how long is that requirement? and how do you apply for it? wanna see if my parents or uncle can get it (the already rock the senior freeze/exemption)”
It is/was 10 years and HH income under $100k. Can’t combine with the Senior Freeze. Only thing LTO does is uncap the limit on the expanded HO exemption, which isn’t currently effective in the City, unless I missed something (possible).
“Beg to differ. Wallpaper was totally out for a long time and now high contrast 60’s and 70’s influenced wallpapers are very ‘in.’”
And yet–none of those scream “old polish lady” like so much wallpaper one sees in un-updated homes.
“No senior freeze, but a LTO exemption kicked in last year”
i just got that myself last year(i’m pretty sure it’s something relatively new)…my taxes dropped from over 3600 to just under 3 grand.sweet.if i recall correctly,you go to the cook county assessors website and you can print out the form.it was a pretty painless process.they have a number you can call for help also.
“And yet–none of those scream “old polish lady” like so much wallpaper one sees in un-updated homes.”
i have a wallpapered closet that i just left alone. it looks like timothy leary designed the stuff.big goofy swirling eyeball kinds of things.has to be from the sixties.i generally keep the door closed.
Agree that cool wallpaper is in! It was out just long enough for everyone to forget what a pain it is to take down. I speculate that the reason it went out has to do with the fact that people realized that although paper can be OK those matchy-matchy wallpaper borders, which this home features, were too hideous for words. I am sure the buyer can’t wait to take those down. Please tell me they no longer even sell borders and that they are Never. Coming. Back. Were borders a sorry substitute for the beautiful mouldings that used to grace the separation between ceiling and wall and that still do in vintage buildings?
“Were borders a sorry substitute for the beautiful mouldings that used to grace the separation between ceiling and wall and that still do in vintage buildings?”
that’s what i always thought they were
just checked out the streetview on this place.really nice curb appeal.plenty of trees.and talk about the edge of the city.directly across the street is park ridge.i would venture to say a cop or firefighter bought it.
sweet place.
the photos rock. Sorry that grandma passed away.
The current owners can make another little bit of money selling some of those wonderful “mid-century mod” pieces. The dining room table, that groovy dresser upstairs, and that standing lamp! OMG.
Don’t throw that stuff out! Put it on Craigslist!
As to the mortgage question. Moving from a 30 to a 15 will likely entail clocing costs and an appraisal. On a 100,000 balance and assuming you can save 150 basis points thats only 1500 a year in saving. In that case you will need 2 – 3 years of savings just to get back to where you were.
I have debated the 30 Vs. 15 with myself too, and here was my decision. You can always prepay. You can always pay an extra $1
Sorry I hit return and got cut off.
THe point is you can turn a 30 year into a 15 yr by paying extra to principal. But (At least until recently) the Banks didn’t like it if you tried to stretch a 15 year in to a 22 year by underpaying.
And with rates where they are and someone willing to trust me for 30 years at 5.25% I say go long and go fixed
The 30 versus 15 depends on your time horizon. You could save bit of money by just prepaying $300 a month and then you don’t need to get the appraisal and closing costs to put into the loan. If you think you will be there for more than the break-even points (where the interest savings exceeds the closing costs), it probably makes sense.
“It is/was 10 years and HH income under $100k. Can’t combine with the Senior Freeze. Only thing LTO does is uncap the limit on the expanded HO exemption, which isn’t currently effective in the City, unless I missed something (possible).”
thanks Anon,
thats why they both dont have it cause the got the old fart freeze, hey i almost qualify for the LTO thing 🙂
I love edison Park but and love the curb appeal of this place but 285k for just a 2 bedroom that doesnt look expandable, is a rough sell.
i guess we will know when the closing price comes in
strange lot size: Lot Dimensions: 50 X 93 X 40 X 114
nice place, the furnishings look exactly like the current Room & Board catalog, LOL!! Styles have totally recycled. The new stuff at room & board looks like the Seventies furniture we had as old cast-offs in college in the late 1980’s early 90’s. It’s funny to see a couch full price retail that mirrored the cast-off couch we were given for free and spilled beer on.
Cute, but Oznam is pretty busy street, and it’s close to the VERY busy corner of Oznam(Canfield) and Devon.
On the plus side, you’re a stone’s throw away from a Dairy Queen!
groove
i wonder if they could drop the senior exemption and go with the LTO? might save them a lot more.
“groove
i wonder if they could drop the senior exemption and go with the LTO? might save them a lot more.”
I don’t think it ever would have been more.
My Labrador loves DQ. If we lived there we both would get fatter. I’d do the nighttime walk every night!
“thats why they both dont have it cause the got the old fart freeze, hey i almost qualify for the LTO thing”
Groove:
Make sure they know to submit their Senior exemption form every year now. It’s no longer an auto renewal.
“Groove:
Make sure they know to submit their Senior exemption form every year now. It’s no longer an auto renewal.”
good looking out anon, i thought the the HOE was the only auto renewal. but i will pass this along.
dont see why they need to every year its not like they will not be a senior next year or the year after that.
ahh good ol cook county, the stroger family, and fill in buddy Quinn. can they make it any easier for people to leave?
Sold on 08/30/2010
$230,000
Deals are getting better and better.