Will This SFH Get Multiple Offers This Year As It Did In 2013? 1524 W. Oakdale in Lakeview
This 4-bedroom single family home at 1524 W. Oakdale in West Lakeview recently came on the market.
If this house looks familiar, that’s because we chattered about it the last time it came on the market, in 2013.
See our extensive chatter about it here (especially The Groove’s comments about paying $800,000 for this property).
You may remember, that 2013 was a pretty hot market with many properties seeing bidding wars.
This house was one of them.
It had offers within the first 24 hours on the market.
Liz posted this comment:
“I was there this weekend and the agent had let me know they’d received several offers already but were not going to make a decision until after this weekends showings. I’m sure they received several more.”
You may recall, that one of the selling points was that it was in the Burley school district.
It’s on a standard Chicago lot measuring 25×125 and has a two car garage.
This house has its front door on the main level with the family room and a bedroom on that level. The listing says this floor has seen a “recent complete remodel.”
The living/dining/kitchen are on the second level along with a bedroom.
The current listing says the kitchen is “freshly updated.” In 2013, the kitchen had cherry cabinets, but they are now white. There are still granite counter tops and stainless steel appliances along with a pantry, and a breakfast bar.
The master bedroom, and a second bedroom, are on the third floor. The master has cathedral ceilings and there are skylights along with 2 walk-in closets.
There are updated marble baths.
The house has 4 outdoor spaces, including 3 decks.
Don’t want to mow the lawn? It has a turf backyard.
There’s no way of knowing how many offers it got in 2013 but the house sold for $21,000 over it’s list price at $796,000.
It has come back on the market 5 years later for $1.035 million.
The market is even tighter in 2018 than in 2013 but the selling point on this house in 2013 was it’s price under $800,000.
Is $1 million the “new” $800,000 in this neighborhood?
Will there be a bidding war this time around?
Daniel Marks at @Properties has the listing this time. See the pictures here.
1524 W. Oakdale: 4 bedrooms, 2.5 baths, no square footage listed, 2 car garage
- Sold in September 1994 for $334,000
- Sold in April 1999 for $480,000
- Sold in July 2007 for $830,000
- Originally listed in February 2013 for $775,000
- Multiple offers within 24 hours
- Sold in April 2013 for $796,000
- Currently listed for 5 days at $1.035 million
- Taxes are now $14,048 (they were $10,900 in 2013)
- Central Air
- Wood burning fireplace
- Bedroom #1: 17×12 (third floor)
- Bedroom #2: 14×10 (third floor)
- Bedroom #3: 15×10 (second floor)
- Bedroom #4: 12×9 (main floor)
- Family room: 21×12 (main floor)
HUFF AN PUFF AND BLOW THAT PLACE DOWN LOLZ!!!
GO CUBBIES!!! BURN THIS PLACE DOWN!!!
This place is a mess.. I think it would have kept more value as a 2 flat
I can’t believe no one mentioned the lack of a private master bath yet…..or the fact that the lucky duck who gets the bedroom at kitchen level has to go up or down stairs to shower….so really not a 4-bed home. More like three bed plus guest space and the third bed really is only appropriate for an in-law or an older kid.
I also despise the kitchen appliances and lack of a back-splash in the kitchen. that is a pretty uninspired detail. What else will need to be replaced soon in this “million dollar” home with re-faced cabinets?
It’s super mediocre, but I do think the answer to “Is $1 million the “new” $800,000 in this neighborhood?” is yes.
This one is selling the “single family under $1m in Southport Corridor” and it’s the only SFH in that category I’ve seen recently: https://www.redfin.com/IL/Chicago/1450-W-Grace-St-60613/home/13384890
It’s up on Grace (in Blaine), and far less updated, and has one bathroom on the second floor for 4 bedrooms (so also no real master). Looks like a finished basement and it’s definitely counting the sq ft (the sq ft number seems seriously misleading), but it doesn’t show it, and only shows 2 bedrooms, so who knows.
Personally if I had to choose between the two, I’d rather have this place and update it myself (going by photos only and not actually in the market or having any intent to pay such a price for what you currently get in the area), but it makes sense the other would then go for significantly higher.
I’d rather move to Oak Park and get this… fully gutted 5 bedroom/4.5 bath for $1 millionish…
https://www.realtor.com/realestateandhomes-detail/159-N-Cuyler-Ave_Oak-Park_IL_60302_M81819-97410?view=qv
Commute difference by car according to google maps was 7 minutes to Prudential Plaza. You can also walk to green line stop.
Guess I am getting old.
Thats a million dollar turd
The Oak Park house is 10X nicer
what are the taxes on that OP house though… is it the 37k or the 15k?
“Guess I am getting old.”
If those were the only two choices, it really seems like a no-brainer to me. Hello, OP!
“is it the 37k or the 15k?”
37k is the AV. Obviously going up as soon as it sells. Were it assessed at $1m, (so AV = 100k), then taxes would be around $37k (maybe more!).
Russ–how close to sale prices do OP homes usually get assessed?
Anon, taxes tend to run about 2-2.5%. Tax bill on this place would probably be about $20k… maybe $25.
Interesting that I was participating in the 2013 conversation about this property. Don’t remember it at all. But I do hate that below-grade entrance. And I still think this is too far west.
Yeah, there are plenty of other million dollar properties I’d rather have too (and not even in Oak Park, although I have nothing against Oak Park).
There are plenty of houses nicer than the subject property in Oak Park for well less than a million too. The market still may be around $1m for the property in question.
That Oak Park house has been voided of any character. I can’t wait for the whitewashed and gray look to GTFO, so irredeemably boring, and has been since day one.
First – Groove wherever you are please come back!
Vinyl siding
Megan Kelly
Basement laundry comments
Priceless! I used to ck back more frequently just to see how he would responded to some crazy comment that was listed. Dude was funny!
Second – Oak park??? Nice place but how about Park abridge. Express teaint I loop is quick and easy! Look what $1m gets here!
https://www.redfin.com/IL/Park-Ridge/509-S-Home-Ave-60068/home/13642238?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link
New construction. Your kids can walk to all schools. Quick drive to Metra train or blue line.
Close to town
https://www.redfin.com/IL/Park-Ridge/128-N-Washington-Ave-60068/home/13649402?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link
Walk to grade and middle schools bus to HS. Really close to town and train. Needs some cosmetic upgrades but decent home.
Or my favorite except for the tax bills. Totally private, on a lake, plenty of space.
https://www.redfin.com/IL/Park-Ridge/109-Murphy-Lake-Rd-60068/home/13647624?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link
Wow that ask on that Park Ridge house is down 850Kish since the last sale in 2007. Brutal.
“ask on that Park Ridge house is down 850Kish”
Doesn’t that part of PR flood basically every year now?
Floods have been taken care of and I can attest to that for the last three years.
“Floods have been taken care of ”
So, I looked up the latest PR report on flooding–looks like all the risk in this area is north and west of the “lake”.
First page of this:
http://www.parkridge.us/assets/1/Documents/Exhibits%201-5.pdf
Anon – I’m southeast of those lakes and ironically had water in the basement last week. That sucked but it was from a window well issue and not a flood plain issue.
Still a pita.
How are all floors above grade when you enter below grade? Agree with others, looks poorly done. Lots of corners cut. Look at that kitchen – cheap cabinets and cheap appliances. In a million dollar home? HAHAHAHAHA
“Anon, taxes tend to run about 2-2.5%. Tax bill on this place would probably be about $20k… maybe $25.”
I can attest this isn’t the case many places in Oak Park. We paid $520k, and pay $20k a year in taxes. 🙁
Benjamon;
Ouch. You either are not claiming homeowner’s exemption or need to challenge your assessment. $20k is way too high for a $500k house. Definitely an outlier.
$20,000 in taxes is still better than paying for private school. I don’t know why people without kids would buy in these suburbs.
20k in property taxes is fucking lunacy, thats not the only taxes you pay! Federal, State, Sales, Vehicle, blah blah blah… how much do they fucking need, and yet they are still in a massive hole