Would You Pay $399,900 For A 5-Bedroom Rehabbed SFH In Avondale? 3059 N. Gresham
This 5-bedroom single family home at 3059 N. Gresham in Avondale recently came on the market.
It is a rehab of a bank owned house.
Built in 1893 on a standard Chicago lot measuring 25×125, it has 2800 square feet and a 2-car garage.
Three of the bedrooms are on the second floor with the other two in the lower level.
It has a first floor family room.
The listing says it has a “high end” kitchen with Bosch appliances, dark cabinets and granite counter tops.
The house has central air and dark hardwood floors.
It is located just a block from the Belmont blue line stop.
Is Homedelete right that Avondale will be the next neighborhood to gentrify?
Does that make this house for $399,900 a deal?
[On a side note- notice how long it took the bank to re-list and sell this house.]
Chadwick Duda at Prudential Rubloff has the listing. See the pictures here.
3059 N. Gresham: 5 bedrooms, 3 baths, 2800 square feet, 2 car garage
- Sold in February 2000 for $185,000
- Sold in November 2001 for $220,000
- Sold in September 2004 for $265,000
- Lis pendens foreclosure filed in July 2009
- Bank owned in November 2010
- Sold in June 2012 for $120,000
- Re-listed for $399,900
- Taxes of $3371
- Central Air
- Bedroom #1: 18×10 (second floor)
- Bedroom #2: 12×11 (second floor)
- Bedroom #3: 12×11 (second floor)
- Bedroom #4: 11×11 (lower level)
- Bedroom #5: 11×9 (lower level)
- Family room: 16×13 (main level)
I don’t know much about this area, but the rehabber did what looks like a very nice job….
Why does the realtor’s picture look like a Brooks Brothers ad?
“Why does the realtor’s picture look like a Brooks Brothers ad?”
Because it takes a hot man to sell a hot property!!!
They did do a nice job rehabbing this. There should be a ton of interest.
“Why does the realtor’s picture look like a Brooks Brothers ad?” Good question. Does this work in generating business? It must or they wouldn’t do it, right? Selection decisions are much more emotional than they should be.
“Is Homedelete right that Avondale will be the next neighborhood to gentrify?” How exactly does one know when a neighborhood IS gentrifying and when it HAS gentrified?
He doesn’t come across as a realtor in the picture. Beyond their beauty, I associate models with terms like “difficult to deal with” and “snobby.” Perhaps the “beautiful people” only want to deal with other beautiful people though, in which case, he will have an in with the good looking sellers.
Looks good and I like the staging overall. I take it the dollhouse is a deliberate attempt at making someone envision this being their daughter’s room?
Great job on rehab and staging, but the place has ZERO curb appeal imho.
Absolutely. This area is HOT! Walking distance to the Blue Line and also walking distance to Logan Blvd., where it seems every month there is a new restaurant/ bar or coffee shop opening. They also did a really nice job on the rehab. That look in Bucktown, Lincoln Square or Roscoe would be close to twice that price.
“the place has ZERO curb appeal”
Not quite curb repel, tho.
They spiffed up the porch, but it’s otherwise untouched from before the REO sale:
http://www.urbanrealestate.com/property/3059-N-Gresham-CHICAGO-IL-60618-C6PRGAKTXBDXA.html
LOL @ Realtor photo
he looks to be having quite a bit of fun for a person named Chadwick
This isn’t the worst property in Chicago by any stretch, in fact it will probably sell fast since its a sacred SFH and it has been decently rehabbed even though the neighborhood is less than desireable for people with 150k+ incomes who should be buying 400k homes, but thanks to benny B, this 400k home only costs 14k down, and $1,690.51 a month (30yr fixed @ 3.3%) add in $280 a month in taxes (might go up after this sale?) and another $200 in PMI and thats not a bad monthly nut, if they can afford the 20% downpayment, its really cheap for a 5 bedroom 2800 sqft city house!
I’m with Russ on this. Really bad exterior. Nice enough inside.
I’d rather sell a $399k rehab in this part of Avondale than buy one.
Lots of regular-guy working-class urbanism around here, if you like that, and I kind of do. Density is huge. Some of those long diagonal blocks are hoody.
Milwaukee between Kedzie and Kimball is blowing up, so I’d expect improvement between Kimball and Central Park to be in the cards at some point (maybe decade or so away). A lot of that stretch is pretty crummy but clearly has potential.
Bad siding job. Other than that seems OK.
Not sure how it can be counted as a 5 Bedroom. Per MLS rules lower level needs to be above 50% of grade to be considered a lower leverl bedroom and not a Basement Bedroom
Close to me, and believe me, having a burglar-detractor exterior and a snazzy interior ain’t a bad strategy. Although in 10 years we’ve never had a problem, nor have our immediate neighbors.
The realtor picture is a bit… odd. Although he could pass for one of Late Bar’s 4 am clientele.
I do agree some of these diagonal streets can be sketchy, but most are now reduced to a few problem residences (or individuals), and time isn’t on their side. A guy got put away for shooting at the police who lived right around the corner from here this summer (3000 block of Kimball), his departure immediately correlated with less banger types on cell phones on that block, but frankly they didn’t really bother any of the locals anyway.
There are a substantial number of long-time residents/owners here, I have been quite happy with the vast majority of my neighbors.
Skeptic, yeah, I know what you mean, and I retract my “hoody” in favor of your occasionally “sketchy.” Block I live on once fit that description.
Question about Avondale: When people talk about gentrifying Avondale, which part(s) are they talking about? Seems the Kennedy is a big dividing line in the neighborhood, and I kind of perceive Kimball is too.
This house needs an island
Great-looking interior. I like the dark wood floors and the dark kitchen cabinetry. If I could ever decide whether to put some money into my condo, I’d be inclined to rip up the wood floors and replace with dark wood. Same with the cabinets.
I like to think Uptown is the next hood to gentrify though. 😉
“I like to think Uptown is the next hood to gentrify though.”
And, I’d like to win POWERBALL…..ie….not happening.
Oh c’mon Trudi, never say never!
“I’d be inclined to rip up the wood floors and replace with dark wood. Same with the cabinets.”
What kind of floors do you have? Most of chicago vintage floors are oak. All you have to do is get them refinished with some dark walnut stain before the poly and voila! Dark wood.
ps
Maple ( which is usually found in kitchens) will not take the stain. The wood is too hard.
The Kennedy itself is a big heaping load of ugly in terms of noise and pollution, but the drivers are the blue line, Milwaukee, and people like yours truly who wanted more bang for the buck than the neighborhoods further east offer. I love the lakefront, but to me it doesn’t matter much if I’m 15 minutes away as opposed to 10. Plus, the blue line wins smell test after smell test compared to the red line.
By looking at it I still consider this a 3 Bed with 2 in the “Basement”. NOT “Lower Level”. Big Diff how the MLS picks this Bedroom count with Basement vs Lower Level
Good acquisition costs by the flippers though should do well
Interesting MLS history is all I can say. Clearly they did NOT change the siding on this place and the exterior looked relatively good.
” Skeptic (December 4, 2012, 8:17 pm)
The Kennedy itself is a big heaping load of ugly in terms of noise and pollution, but the drivers are the blue line, Milwaukee, and people like yours truly who wanted more bang for the buck than the neighborhoods further east offer. I love the lakefront, but to me it doesn’t matter much if I’m 15 minutes away as opposed to 10. Plus, the blue line wins smell test after smell test compared to the red line.”
Yeah, I think people are realizing that west of the river – in terms of value – is by no means the same as being west of Route 47 in Huntley. Like I said, I did a search of livable homes for sale (not tear downs) east of the river in the green zone and I could barely find anything for less than $600 or $700k and those were all in Roscoe and North Center. Lakeview, LP, etc even wicker/bucktown still way out of most people’s price range. It’s not worth the competition, at least not for me.
Thanks dahliachi. We’ve got oak… I’m going to look into it over the holidays.
” Like I said, I did a search of livable homes for sale (not tear downs) east of the river in the green zone and I could barely find anything for less than $600 or $700k and those were all in Roscoe and North Center. Lakeview, LP, etc even wicker/bucktown still way out of most people’s price range. It’s not worth the competition, at least not for me.”
Right. I definitely see the value in *proximity* to assets like the lake, river, subway/L, etc. But the east-west thing is fairly irrelevant in and of itself.
It seems this neighborhood is gentrifying! http://www.zillow.com/homedetails/2935-N-Wisner-Ave-Chicago-IL-60618/3670049_zpid/ Says someone who expected this to happen and bought in the neighborhood 10 years ago.
And by “expected this to happen”, I mean “wanted to sell for the past few years and might finally be able to do so, someday.”
LOL, this popped up when I was googling Avondale. Hope y’all are well.
Now pending at $565k:
https://www.redfin.com/IL/Chicago/3059-N-Gresham-Ave-60618/home/13448021
having NOT SOLD from the ’12 listing.
Hi, skeptic–kids in HS yet? Or is this the year?