When Houses Are On the Market For Years: 7017 S. Euclid in the Jackson Park Highlands
This 4-bedroom single family home at 7017 S. Euclid in the Jackson Park Highlands neighborhood of the South Shore has been on and off the market since October 2009.
That is 27 months without a buyer.
In that time, the house has only had one price reduction, in August of 2011, for about $50,000.
Like most of this historic neighborhood, the house was built in 1929 on an oversized 50×135 lot.
It has a wood burning fireplace and a 20×10 sun room.
The baths have porcelain tile flooring. The kitchen has maple cabinets, granite counter tops and what looks like black appliances.
It appears the main level is carpeted.
The house has a 1-car attached garage and no central air but it is just a few steps away from the Bryn Mawr Metra stop for easy commuting.
What will it take to finally sell this house?
And is it a microcosm of the Chicago housing market right now: with a stand off between the sellers and their pricing and buyers and their expectations?
Monard Lee at @Properties has the listing. See the pictures here.
7017 S. Euclid: 4 bedrooms, 2 baths, no square footage listed, 1 car parking
- Bought before 1993
- Originally listed in October 2009 for $549,500
- Reduced in August 2011 to $499,000
- Currently still listed at $499,000
- Taxes of $4347
- No central air- window units only
- Bedroom #1: 16×13 (main floor)
- Bedroom #2: 20×12 (second floor)
- Bedroom #3: 13×11 (second floor)
- Bedroom #4: 14×13 (second floor)
Pretty house. But there is only housing for one auto, and this neighborhood is rather off the beaten path. I would expect it to be priced about the same as Peterson Woods, and I doubt this house would fetch over $400K, if even that, in Peterson Woods or other comparable north side locations.
Sellers who aren’t desperate are still clinging to unrealistic prices, methinks. Some are just “fishing” to see what they could get for their places, and if they can get a wishing price, they’ll sell and if not, not.
“What will it take to finally sell this house?”
A $150k price cut.
I was expecting much nicer and a better location for 500k… good luck to the seller
375
Nice house, but nowhere near what $499K should fetch in this neighborhood. I agree with Casper… 375-400 sounds closer to reality, but it appears that the owners are willing to simply wait it out until they get their price.
More like they’re trying cover their mortgage balance, selling expenses and save their credit before it eventually goes into foreclosure.
The lack of CA is another major minus. I don’t care about it, but most house buyers consider it to be basic, especially for $500,000.
update: sold for $918k
http://www.redfin.com/IL/Winnetka/382-Ridge-Ave-60093/home/13786155
tax appeal?
interestingly, Joe Zekas appears to have posted about this house on his ChicagoNow blog Oct 7, one day after the discussion here.
^whoops, meant to post that in another thread.
Meant to remind the cribchatterati about this place here:
http://tours.vht.com/Viewer/PhotoGallery.aspx?ListingID=1200859&Style=RRI
$359k. less house, sure, but much nicer and much better location. (full disclosure: we almost bought that place)
this one backs right up to the church, which backs right up to jeffrey. would much rather be at least on the other side of euclid.
“And is it a microcosm of the Chicago housing market right now: with a stand off between the sellers and their pricing and buyers and their expectations?”
Absolutely.
This one is interesting – sold at foreclosure auction and then again on the open market (maybe after some work, but maybe not, listing does not mention) for over 100k more:
http://www.redfin.com/IL/Chicago/6955-S-Euclid-Ave-60649/home/13927050
Anyone got intel on this one?
The house on Ridge in Winnetka is unbelievable at the price it sold. Never thought I would see a house like that in a top North Shore burb for less than $1.5M.
“The house on Ridge in Winnetka is unbelievable at the price it sold. Never thought I would see a house like that in a top North Shore burb for less than $1.5M.”
If the redfin agent comment is reasonably accurate, it could well be a teardown candiate, and then it makes some sense.
Roma, the house on Constance is beautiful! I can see why you liked it so much.
The house on Ridge a “teardown” candidate? This is really too good a house to tear down.
In any case, I believe that the era of “tearing down” to rebuild something larger and more pretentious was over the day the EZ-money era passed. Even people wealthy enough to do this are rethinking their desire for megamansions and thinking that perhaps it makes more sense to renovate the little 6,000 sq ft shack and that money lost is not easily made back in a climate of high risk and low returns.
“interestingly, Joe Zekas appears to have posted about this house on his ChicagoNow blog Oct 7, one day after the discussion here.”
Not too interesting since Joe reads this blog seemingly every day (as every time he’s mentioned, he appears and every time one of his clients properties is on here he also appears.) So if you guys post ideas for him on the North Shore- he’ll post on them on his own blogs.
I live in the Highlands and I have to say this house –and at least one other — is a mystery to me. I can’t see it selling for $500,000 now or in the near future. But it’s left on the market month after month. There was another house like that in the neighborhood that never went down a penny on the asking –it also didn’t sell. Not sure why owners bother. That said, there are many houses in JPH worth that price and considerably more. All I can say is my wife and I LOVE our house, love our neighbors, love the neighborhood, and love the location. I had to laugh a little when I read that it’s a “little off the beaten path.” My driving commute to the loop is 15-20 minutes in rush hour (traffic on Lake Shore is far better traveling north), our house sits five minutes from two golf courses, the gorgeous South Shore Country Club, and the shops and restaurants of Hyde Park. There’s a Metra stop at the end of the block (but far enough not to hear the trains) that goes right downtown. And one of the most beautiful parts of the lake front, at Jackson Park marina, is also five minutes away –my wife goes jogging there every day. By the way, if you want an interesting house to chatter about, try 6721 S. Bennett. It’s a limestone castle with arched doorways and mahogany beamed ceilings. I think it’s in foreclosure, and needs considerable work, but my wife and I have been fascinated with it since we moved here a little over a year ago. Happy chattering everybody!
Laura,
I think anon was referring to this comment (which I had also missed):
“Some question about the structure itself”
You know my posts well, Roma.
There are some MLS postings that have been sitting for far longer than two years, Sabrina. Take a look at the Sloop! Many nabes have listings that are nearing two-four years. But take a look at some of the Sloop’s listings!
The oldest 2,536 days old today. It’s having it’s seventh birthday party next week! But 1201 S Prairie has a bunch at 2,177-2,184 days old. About to enter first grade at six years old! 😀 1629 S prairie has a 3/3 at 2,173 LMAO. 1901 S Calumet has a bunch at 1,949 days.
At least with car dealerships they have to turn over inventory so an unsold car can’t sit on the lot for over a year. But with these condos collecting dust at what point can these no longer be marketed as “new”?
If there’s a blog that I’d place a very distant second to CC, it wouldn’t be JZ’s blog, but Dennis Rodkin’s and I kinda feel sorry for him, because many times he’ll get zero comments on his posts, which are pretty good.
“I kinda feel sorry for him, because many times he’ll get zero comments on his posts,”
His posts are snake-oil advertisements of new home builders and then apartments and the reason he gets zero comments is he effectively banned everyone.
Err JZ’s blog I meant. I dunno that other guy.
“By the way, if you want an interesting house to chatter about, try 6721 S. Bennett. It’s a limestone castle with arched doorways and mahogany beamed ceilings. I think it’s in foreclosure, and needs considerable work, but my wife and I have been fascinated with it since we moved here a little over a year ago. Happy chattering everybody!’
TheHighlander: Thanks for checking in with an actual view of the neighborhood from someone who lives there. That’s always appreciated.
As for 6721 S. Bennett- we’ve chattered about it several times. (I’m a sucker for anything described as a “castle”.) But thanks for a tip from the neighborhood. I’ll be interested to see what it ultimately sells for.
Sabrina, ah yes–I searched the site and see other posts about 6721. Also see a lot of posts from people curious about the neighborhood. As I said in the previous post, my wife and I, who have lived there a little more than a year, love it. It is certainly true that the surrounding area is not so hot. The good news, as we’ve discovered, is that the Highlands are cul-de-saced and, because of the way the one-way streets are laid out, only have a couple of paths through it. The neighborhood association is extremely active and the neighbors are very watchful. I’ve discovered that we very much have our alderman’s ear and that police pay special attention, given the relative affluence. I didn’t know a thing about JPH until we moved there, but now consider it the best kept real estate secret in Chicago (and no, I’m not involved in any way with real estate — just am so thrilled with our neighborhood that I enjoy singing its praises.) As for the castle — my wife and I came SO close to buying it. She was utterly enchanted by the possibilities. The interior does need a lot of work — a new kitchen, new bathrooms. But geez, what a dream house if you’re willing!
“His posts are snake-oil advertisements of new home builders and then apartments and the reason he gets zero comments is he effectively banned everyone.”
I don’t know what this means, but I do know Dennis, and I know he is an excellent reporter with a lot of integrity who takes what he does very seriously. I also know that his blog, while different than this wonderful site, is top-notch.
“I don’t know what this means, but I do know Dennis, and I know he is an excellent reporter with a lot of integrity who takes what he does very seriously. I also know that his blog, while different than this wonderful site, is top-notch.”
TheHighlander- he wasn’t referring to Dennis or his blog. He was referring to someone else.
“I don’t know what this means, but I do know Dennis, and I know he is an excellent reporter with a lot of integrity who takes what he does very seriously.”
Due to the verbiage it may have been interpreted as such, however my comment was _not_ directed at Dennis–it was directed at another person..who shall remain nameless lest he show up.
It takes a lot of guts to actually put your name and face out there – very different to be an anonymous ass. You HAVE to give credit to Joe Zekas for being a man and putting his name and face to his comments. That is more than I can say for any of you wimps!!!
“That is more than I can say for any of you wimps!!!”
Including you, clio…..
“You HAVE to give credit to Joe Zekas for being a man and putting his name and face to his comments. ”
I don’t think it’s courage to put your name and face to your comments, when the expressed purpose of putting your name and face on those comments is for self aggrandizement.
Clio, You really are a moron..
Now Ze shows real courage by admitting he is one of the 3 gay caballeros. Although I don’t think one drunk night with Daffy really makes me gay. But hey, it’s 2006, enjoy what you are!
http://www.huffingtonpost.com/2012/01/30/heller-house-frank-lloyd-_n_1241790.html
anyone want to be the first to start picking this one apart???
“You HAVE to give credit to Joe Zekas for being a man and putting his name and face to his comments. That is more than I can say for any of you wimps!!!”
I guess that UIC education really has you missing the irony in your posts there my futile friend.