Will Lower Mortgage Rates Spark Chicago’s Housing Market? 1252 W. Oakdale in Lakeview
This 3-bedroom townhouse at 1252 W. Oakdale in Lakeview came on the market in April 2018.
This group of townhouses was built in 1992. There are ten units and garage parking.
Architecturally, it’s different than many townhouses as it has a rounded façade.
We last chattered about this townhouse in September 2018.
You can see our chatter here.
If you recall, the townhouse has had some renovations. There are hardwood floors throughout.
There’s also a new custom kitchen with white cabinets, black granite counter tops and stainless steel appliances.
The kitchen has a custom-built pantry with an eat-in marble peninsula where they have hidden the refrigerator, which was moved from the other side of the kitchen (if you look at the 2013 listing pictures you’ll see how they opened it up.)
You can access the backyard patio off the kitchen.
The second floor has 2 bedrooms and a new hall bath.
The master suite is on the third floor with 2 private outdoor areas.
There’s a family room in the lower level with a powder room, a bar and the laundry room.
The townhouse has central air and 1-car garage.
The listing says it’s in the Agassiz school district.
Originally listed for $899,500, it has now been reduced $54,500 to $845,000.
This townhouse has been listed, off and on, for about 9 months.
Will falling mortgage rates help get this sold this spring?
Heather Hillebrand at Dream Town still has the listing. See the pictures and floor plan here.
Or see it at the Open House on Saturday, Feb 2 from 11 am to 1 PM.
1252 W. Oakdale: 3 bedrooms, 2.5 baths, 3000 square feet
- Sold in March 2004 for $525,000
- Sold in April 2013 for $650,000
- Originally listed in April 2018 for $899,500
- Reduced
- Was listed in September 2018 at $849,500 (includes 1-car garage parking)
- Withdrawn in November
- Re-listed in January 2019 for $845,000 (includes 1-car garage parking)
- Assessments of $333 a month (includes exterior maintenance, lawn care, snow removal)
- Taxes are now $12,644 (they were $11,973 in September 2018)
- Central Air
- 3 outdoor spaces
- Bedroom #1: 15×13 (third floor)
- Bedroom #2: 18×17 (second floor)
- Bedroom #3: 15×12 (second floor)
- Laundry room: 18×16 (lower level)
- Family room: 23×18 (lower level)
I can’t believe mortgage rates are the problem. There are certainly signs of weakening demand/ increasing supply of condos but the same is not true of SFHs. I would think if mortgage rates were the problem we’d be seeing changes in both types of housing.
Just realized the subscription option is gone again. Was that intentional?
I’m looking at anon’s name and e-mail address right now.
It still seems pricey to me. Could be their stuff is not the right size for the space but this feels cramped and I don’t care for the sundeck – – no privacy. What happens if you have a neighbor who smokes? Forget enjoying your sundeck. The photos don’t give a good idea as to where the garage is. How far do you have to walk in the elements to bring the groceries and all juniors’ stuff in?
ha no, low rates mean nobody wants to buy right now
Seems like a good place to raise a family. Surprised this family with young children (judging from the photos) is leaving.
Well for starters it’s not 3000sf, closer to 2500, 17’ wide and spread out over 4 floors.
The layout sucks and the actual 2500sf lives much smaller
The basement is the only redeeming feature in the place, but the ACT is not the stuff of almost million dollar properties
As a bonus you get a pit for a back yard. between the AC condenser and green stuff growing on the concrete you’ll have great conversation starters when having people over for a BBQ
Honestly you’re listing a house for $900M and you can’t buy a jug of bleach and a scrub brush to clean that shit off? The agent and owners are flat out lazy.
“I’m looking at anon’s name and e-mail address right now.”
I’ve de-activated the plug-in and no one else is saying they’re seeing anyone’s e-mail address. Nothing else has changed on this old site. Unless it’s something in the new editor. I switched to the old classic one but perhaps there’s a bug in that plug-in.
“Just realized the subscription option is gone again. Was that intentional?”
Yes. It seems to be causing the security issue in the sign-in form to comment. (Or maybe not.) It’s the only thing that appears to be causing it as everything else is the same on this old site.
Let me know if people are still seeing the e-mails in the sign-in form next week because then it’s not the subscription plug-in.
For now, the subscription plug-in is de-activated.
The only thing I could think it could be is the new wordpress editor. All of this happened around the same time that launched. I installed the classic editor plug-in but perhaps that has a hole in it. They just submitted an update for the classic editor so hopefully that has fixed whatever is happening in that form if that’s it.
That’s all on the back end. There is no way for me to control the security features on that. It’s built-in to wordpress.
“I can’t believe mortgage rates are the problem.”
They were a problem nationwide last year Gary. Just like in 2014. Any time they surge 50 basis points or more, people are priced out and sales decline. When they fall again, sales pick up.
I wasn’t seeing the emails before (I’m using Chrome), but now am.