Water Walls and Hidden Rooms: A 4-Bedroom SFH at 1457 W. Addison in Southport
This 4-bedroom single family home at 1457 W. Addison in Southport first came on the market in October 2013.
Most recently, it was relisted in March 2017.
Built in 1901, the listing says it was renovated in 2010.
It’s on a larger than standard Chicago lot measuring 41×134, has a 2-car garage and 7 outdoor areas.
The house has a lot of unique features including:
- A 3-story water wall
- A floating staircase
- Directional art lighting
- Inlaid medallions
- Various wood species
- Exotic marbles/onyx and stone
- A hidden room (is this like a panic room???)
- Radiant heated floors in the lower level and all bathrooms
- 6 fireplaces
- A home theatre
- A spa
- Skylights
The listing calls the kitchen a “chef’s kitchen” with hand made cabinetry, Subzero and a 48″ range.
Originally listed for $4,999,999, it has been reduced to $2.499 million.
Will this house finally sell in 2018?
Michael Hulett at Jameson Sotheby’s has the listing. See the pictures here.
1457 W. Addison: 4 bedrooms, 5 baths, 6000 square feet, 2 car garage
- Sold in April 1995 for $387,500
- Sold in March 2005 for $938,500
- Originally listed in October 2013 for $4,999,999
- Reduced numerous times from 2013-2017
- Re-listed in March 2017 for $2.59 million
- Reduced
- Currently listed for $2.499 million
- Taxes of $37,995
- Central Air
- 6 fireplaces
- Bedroom #1: 19×17 (second floor)
- Bedroom #2: 23×16 (second floor)
- Bedroom #3: 13×11 (second floor)
- Bedroom #4: 13×12 (lower level)
- Family room: 18×16 (main level)
- Laundry room: 9×6 (lower level)
- Great room: 34×22 (lower level)
- Walk-in closet: 9×8 (second floor)
When I saw “water walls” I immediately knew what house this was. I saw it when it was first listed. Chaz had the listing. I thought it was an incredibly cool house and still remember it well but I’m sure that many buyers will consider some of the elements a bit too much personal taste and over the top.
The owners didn’t just spend a lot of money on the renovation. They put an incredible amount of time into thinking about every single detail. The wood for every inlay, piece of trim, marble and granite was carefully picked. They agonized over the layout of the kitchen and the location of that window and the backlighting in the cabinets next to the window. And it must have cost a fortune to paint the trim in multiple colors.
Once again I SMH at the fact that they changed realtors. Like it was Chaz’ fault that it didn’t sell at $5MM yet they’ve lowered the price substantially since then.
I think it could sell in the low 2s, finally. Lots of costly, quality details but most people would do certain things sonewhat differently, it doesn’t make sense to do a house like this unless you plan to live there long term and fully enjoy all those extravagances.
Oh…and you can also rent it for $10,000/ month. The sellers have a life somewhere else if I recall and really don’t need this house. All this time it’s been a drain for them.
I also wonder how big of a negative being on Addison is.
The initial 5M ask was a bad, bad joke. The realtor deserves what he got for taking it to market at that price, whether he set the price or not. What did they think, some young, inexperienced Cubs player flush with cash would fall in love with it?
They had to be kidding at 5 million.
This is a nice place and has some nice details – the problem is, the design style is likely very specific / tailored to the prior owner. I don’t mind the design but I think a lot of the buyers in the 2 mil+ arena are looking for something a bit more modern looking, and don’t care much for the cool wood inlays, etc.
That being said, I think 2.0 mil – ish will get the job done. I bet that’s around breaking even at best.
YOURE TEARING ME APART LISAAAAAAA!!!!!!!
OWNERS GET A DEUCE-DEUCE FOR PUTTING THAT KIND OF MONEY IN THIS.
NICE, BUT DAMN!!!!! LOLZ!
THATS A JAN TERRI KEGGER ROOFTOP. GO BEARS LOLZ!!!!!!
I’m all for letting your freak flag fly, especially when it comes to your home. It’s your castle after all, do your thing. But talk about freaky, oy. And 5M? Not only are they getting freaky with the interiors, they’re smoking the inlay scraps. I think they’d be lucky to get anyone INTERESTED in buying this, let alone actually getting the checkbook out. I agree with posters, 2.0 ish might hook someone with a sense of humor.
Well….it’s a nice gator deck.
“Originally listed for $4,999,999, it has been reduced to $2.499 million.”
Oof. Brutal. I agree with all the PPs who said this style is very specific. I don’t doubt that the finishes are nice, but they are not to many buyers’ tastes. The lot size is valuable though. It’s a corner lot? How much a premium does a corner lot, or even an extra wide lot, command?
“The home’s memory can be felt throughout, our intent was to upscale that feeling with a meticulous and contemporary interpretation” -Architect, Constantine Vasilios.
yeah or they just told you “hey I want to blow lots of money on this house, do whatever the hell that is”
“Well, I know a floor guy that will help you do just that!”
also… what the fuck does this mean and how is that not illegal to say?
“BIG tax reduction for next years bill”
and why? IF they sell it for 10% off list they should be paying like 42k in taxes right? This town is fuckin bullshit with their favors to these limousine liberal rich fucks
“BIG tax reduction for next years bill”
Good point. The 2017 valuation is the same as 2016 so I don’t see this going down from here.
Don’t get me started on the whole property tax nonsense. Joe Berrios is screwing up left and right. ProPublica and the Tribune have been doing a bunch of investigations on the assessor’s process and there are huge inaccuracies in it.
He’s up for re-election next year. The primary (March I think) is key because if he wins the primary he will get re-elected.
In the listing it says “BIG tax reduction for next years bill.” Is that for real or lingering from when they listed this in 2016? (As there was a reduction from 2015 to 2016).
If it’s getting another reduction for 2017 I’d be furious. Even now the tax bill is too low as the property is assessed at 1.92 million: lower than what it is likely to sell for. The owners of these types of properties don’t need property tax cuts on top of already unfairly low property taxes. Not saying they should overpay, but that there has to be a better system implemented, especially when considerably more modest homes in worse locations are experiencing significant increases. Hopefully Berrios’ days are numbered. March 20 primary, folks!
Damn Sonies (and Gary) I really should’ve refreshed the page before posting LOL.
AEROSMITH. LIVIN ON THE EDGE… OF ADDISON LOLZ!!!!
GO CUBBIES OLD STYLE YARD PEE PEOPLES!!!!!
We’ve chattered about this before, no?
I wish they had retained more of the vintage details (you can see some nice unpainted wood in the closet pic). What’s “contemporary” in 1990s/2000s is not “contemporary” today. The inlaid floors are striking, but this place probably had some lovely old growth hardwood floors prior to the reno. The “good bones” are obscured under a bunch of 1990s suburban McMansion f*ckery. All those columns and arches and oversized moldings. Yuck.
Love that someone did something different than the usual schlock. The iron work is great, doow work too – just went a little to far
The $5MM ask was a pipe dream and at $2.5MM its still going to be a tough road to hoe. Parroting most Chatterotti, the likely buyer is going to buy and put a half a mil into making it “theirs”. Think theres another major haircut coming
This looks like the Cheesecake Factory. Expensive for sure, but much too buyer specific.
I like it. Although I don’t like the neighborhood. Plop this down in Lincoln Park or the Gold Coast, I’d buy it for $2.5MM on the spot.
I like the design. There is some outstanding craftsmanship here.
I dislike the location. Addison is so congested here. This home should have been created in a quieter location. The “zen” of the home is at odds with the chaos of the street.
Once again I SMH at the fact that they changed realtors. Like it was Chaz’ fault that it didn’t sell at $5MM yet they’ve lowered the price substantially since then. /i>
Depends on whether it was the seller who insisted $5MM was the right starting price and Chaz went along with it, or if it was some dickhead agent like Eric Rojas who said $5MM is on the money and then refused to acknowledge he was wrong a month or two later.
Just a trainwreck IMO. The Mrs and her mom walked past this at some point over the summer, saw the for sale sign and looked it up out of curiousity. Just wow. I get that a lot of this stuff is high quality craftsmanship, but it’s just thrown together and looks like a mess. Just take picture 19. Most of the details on their own are nice. The floors in the back room with the bar, the herringbone laid floors at the base of the stairs, even the inlaid floor around it, but throw all three next to each other? And then throw in columns and arches and inlays in the arches and coffered ceilings between the arches and the super busy ironwork on the stairs that matches none of it.
Maybe it’s avant garde and I just don’t get it
I like the house. But why anyone did this on Addison near Ashland is so odd to me. Honestly, I can’t imagine living in that area in a regular old house.
I like photo 19, it works for me, even if it is beating you over the head in its quest to impress opulence on you. The effect is somewhat masculine and “mancave-ish”, though in a mostly good way. This house is blocks from Ashland, that’s all but immaterial. Southport is the nearest major cross street. This stretch of Addison is actually rather nice, albeit busy on game days.
Pitch it (haha) to one of the new Cubs coming on board in 2018! Walking distance to work!
This house is blocks from Ashland and the closest major street is Southport?
Not at all. First, Southport isn’t even major like Ashland is. Southport, Racine, Sheffield are minor league. Halsted, Ashland, Western are major streets. And, this house is on the corner of Greenview and Ashland. Walk east one block to Jansen then one more block you are at Southport. Or, walk west one block
….to Bosworth then walk west one more block to Ashland.
I went to look at the pictures again today and the property was delisted, yesterday, Dec 16. I had briefly looked at the pictures on Friday. What I wanted to say was that this property is an example of when too much money meets too little taste. The style isn’t any recognized architectural design. It’s as if the owners made up a list of cool, expensive stuff they liked and then told the architects to put as much of this stuff in as possible. The other thing about this house is that it’s just too small. This style would have been more understandable for a large mansion out in oakbrook or something but it’s totally out of place in lakeview with a converted two-flat. The columns and inlay would have been more tasteful spread out over larger rooms. That being said, I could certainly live in this house, and I’d own it if I could get it for a steal, like the below $1,000,000 price. But that being said, there’s a lot of options out there these days in the upper price range.
That a house is two blocks to Ashland might be the weakest criticism ever voiced on CC.
Just remembered that I actually did a blog post on this place after I saw it 4 years ago: http://www.chicagonow.com/getting-real/2013/11/1457-w-addison-5mm-home-work-of-art/
There are a few extra tidbits in there plus a slideshow from the original photos. The embedded slideshow might not work but if you click on the space it will take you to the Google album.
“I like the house. But why anyone did this on Addison near Ashland is so odd to me. Honestly, I can’t imagine living in that area in a regular old house.”
We’ve talked about several mansions near this one earlier this year. They weren’t on Addison, but they’re also “near Ashland” so I don’t understand the issue.
This area is one of the hottest in the city. They can’t build $2 million+ houses fast enough, it seems.
$2m is not $5m. Trump is President, Charlie Rose down in flames, so if the hottest area in the city is Addison and Ashland, well, that would be par for the course.
‘Tis one of the hottest areas in the city for families looking to buy $1,000,000+ single family homes. Other areas are hot for condos and others for apartments. Sabrina is correct.
“$2m is not $5m.”
This is true. I never said anything about the pricing strategy on this property.
A $5 million single family home anywhere in the city of Chicago is a rare bird. Probably only a handful of those sell every year- no matter the location.
1) who says ‘Tis anymore? Is Charles Dickens on CC now?
2) 5 million dollar homes are not rare birds in Chicago. There are several that I know about, a few on Burling, that orange brick with the ballroom that was in foreclosure, and several more. And guess what (shock alert): none of the $5million dollar houses currently on the market are near Smokin hot Addison/Ashland.
5 million dollar single family homes are indeed quite rare. A quick Redfin search shows only 35 such sales for the entire city, going back as far as the data allows. That is the tiniest drop in the overall SFH sale bucket. They are nearly all in LP or Gold Coast, no surprise, but if you think there isn’t a solid market for upscale single family homes around SoPO and Addison you need to get out more.
Sid, we disagree what “rare” means. If I know of 5 plus homes for sale in that price range off the top of my head RIGHT NOW, I don’t consider it rare. What is rare is the Hope Diamond, Spotting Tom Cruise having lunch at RL, an Illinois Governor not going to jail, etc. And, of course there is a solid market for “upscale homes” in Lakeview. Is that your conclusion while you “got out more”? But the issue at hand is $5 million near Ashland/Addison. Seeing that the house in question had a huge price cut, that rests my case. Take another toke, Sid. Then get back to us about your thoughts on something else that has nothing to do with the post we are talking about.
“none of the $5million dollar houses currently on the market are near Smokin hot Addison/Ashland.”
Sure, but there’s someone spending over $7m in the area:
http://www.chicagobusiness.com/realestate/20171213/CRED0701/171219960/watch-these-two-houses-get-turned-into-one
“If I know of 5 plus homes for sale in that price range off the top of my head RIGHT NOW”
If I know of 5 people with a random rare disease, does that mean it is no longer a rare disease?
Or is it just an indication that I’m somehow interested in the topic?
“Sure, but there’s someone spending over $7m in the area:”
I don’t get their claim they are increasing green space.
Is GF using new persona for an old character or is a new character? I don’t remem this from the golden days of the chatter.
They should get Jan Terri to sing Sugar Walls and do a nice video of this place
Would sell instantly
“Is GF using new persona for an old character or is a new character?”
Think he’s newer. Would check the Wiki, but Icky sez still rebooting after the ATL power outage.
Fish you are the high one. We ALL agree the five million ask was a joke, see my initial comments. And get some perspective on rare, “Hope Diamond”, please, that is some wacky shit, as usual…
“If I know of 5 plus homes for sale in that price range off the top of my head RIGHT NOW, I don’t consider it rare.”
I didn’t say they were rarely for sale. I said there are “sales” of only a handful of $5 million+ single family homes a year in the city.
I know these owners and when your pissed about the property taxes you should know that when the house was first listed at $5 million, Berrios and his Thugs immediately increased the home value and property tax to the $5 million level without even stepping a foot inside. They got royally screwed and were paying the highest property taxes in the area for years and are still fighting to get them back.
The house is amazing if if its not to everyones taste. Way too many haters!
The $5MM ask was a pipe dream and at $2.5MM its still going to be a tough road to hoe. Parroting most Chatterotti, the likely buyer is going to buy and put a half a mil into making it “theirs”. Think theres another major haircut coming
Sid V was correct. The $250K haircut came in March and it is still not under contract. And that has happened in a sellers market. What will the final deal take to get this to closing table?
The 2016 taxes are still listed. If they were supposed to come down then why have they not been updated? Guess that the sale has to take place to get that reduction?
“I know these owners and when your pissed about the property taxes you should know that when the house was first listed at $5 million, Berrios and his Thugs immediately increased the home value and property tax to the $5 million level without even stepping a foot inside. They got royally screwed and were paying the highest property taxes in the area for years and are still fighting to get them back.”
uh no… if it was assessed at 5 million the property taxes would be $96,500
even if they sell at 10% off the current ask price their taxes should still be $43,000
so your whiny rich friends are being big babies about their taxes, and they can fuck right off
Sonors – I just commented on an old listing that makes some comparison to your comment. 817 Hutchinson has the $96k tax bill and is assessed at $485k. How does this math work?
for 2017 taxes were basically 1.93% of assessed value
so 4,850,000 x .0193 = $93,605 You can probably subtract the 500 bucks for the homeowner exemption too lol
anon knows better than I do about that stuff, but thats roughly it
“a tough road to hoe”
Aren’t all roads tough to hoe?
“How does this math work?”
Assessed Value (which, in Cook County, is 10% of the Assessor’s Market Value) * Equalization Factor = Equalized Assessed Value (EAV)
EAV – Exemptions = Taxable Value * applicable rate (varies some, even in the city) = tax You can use this to figure out the effective rate, based on the Assessor’s Market Value–Sonies has the number about right (it was somewhere around 1.95% for 2016, pay ’17, taxes).
This property–the current AV is $192,000. Looking at the appeals history, it was initially assessed in 2014 at 470,000, but appeal that year took it down to 272,500; ’15 assessor put at 260,500 (appeal denied); ’16 initially 240,000, but appealed down to 192,000; ’17 initially 192,000 (appeal denied).
470k was kookoo, given how other properties are assessed, but now it’s too low, and whining about the current tax bill is unseemly, notwithstanding the headaches caused by that initial ridiculous assessment.
“Aren’t all roads tough to hoe?”
I know you don’t care whether it amused me, but did it *really* amuse you?
“did it *really* amuse you?”
Imagining my children’s reactions, were the comment directed at one of them, certainly did.
And I remembered one that I do sometimes point out when it isn’t amusing–wary v weary. bc I am wary of becoming too weary of the misspelling (os misuse) of wary by those who are too weary to be wary of misspellings.
It’s been reduced…again. Now at $2.249 million.
Will this sell under for under $2 million?
Dropped to $2.190 m.
Under $2 m now.