On the north edge of Graceland West, 1459 W Sunnyside just went on the market for $ 660,000. It’s a smaller-than-typical lot size (92 x 27′) but it has 3 bedrooms, 2.5 baths, and a family room on the third floor. The basement is unfinished and parking is rentable next door — but it gives you a chance to live in a good-sized home in a great neighborhood for under $ 700,000.
1459 W Sunnyside
Just under contract is 4430 N Greenview, listed at $ 680,000 for 198 days. This 1896 3 bedroom 3.5 bath sits on a 25 x 165′ lot.
4330 W Greenview
Both of these homes are atypical of Graceland West historic homes on oversized lots, therefore they were priced lower than many in the neighborhood.
In the last 6 months, homes that closed ranged from $ 835,000 on a court-ordered sale to $ 2,694,375 for 1454 W Warner. The Warner property was originally sold for land value (50 x 125′ lot) in 2008 for $ 1,155,000 and was then listed as a new construction single family home for $ 3,389,000 in April, 2009. Finally, in December, 2010, the home closed for $ 2,888,000
Graceland west is just north of Irving Park Road, between Graceland Cemetery (east) to Ashland (west). It’s a short walk to the hot Southport retail corridor. The south end of Graceland West has the added bonus of being in the Blaine School district – one of the Chicago Public School districts that parents seek out when buying a home. You can see the Chicago Public School boundary map by selecting this link.
Is Lakewood Balmoral selling for too little per square foot?
Lakewood Balmoral, the Andersonville Historic District that’s part of Edgewater, has had a few sales in 2o1o under $1MM. At first glance, homes in this neighborhood are selling for a bargain these days, and in fact, seem to be selling less per square foot than similar neighborhoods– Graceland West and East Ravenswood. Why?
In my mind, there’s no better place to live in Chicago, and no better value, than in Lakewood Balmoral:
Location – nearest to Lake Shore Drive, Sheridan Road, Ridge – it’s a breeze to get all around the city from here! It’s easier to get around the city from here than from West Lakeview!
Retail and restaurants are wonderful, and improving all the time — from newly opened Acre to Hopleaf, Jin Ju, Big Jones, Hamburger Mary’s to Scout, Brimfield’s, City Olive, In Fine Spirits, Red Balloon, great food and shopping are steps away.
Conformity – one of the three requirements for real estate value — this means that the homes are similar — not like Lincoln Park or Lakeview with a McMansion next to leaning clapboard 3flat. Wide lots (35′ – 50’wide) and homes built between 1890 and 1912 have been lovingly restored and preserved. Homes on wide lots mean a greater variety of floor plans than the typical 25′ lots.
Because there are so many single family homes with garages, your guests can always find parking, and we are one of the few neighborhoods that doesn’t use permit parking.
Historic Neighborhood Tax Benefits – save money on taxes by preserving your home! Property tax savings for 8-12 years just by maintaining your historic home. Our neighbors are huge supporters and leaders of the Edgewater Historical Society, whose support has been instrumental in the stewardship of these Chicago landmark blocks.
Community – I challenge every neighborhood in the city to beat Lakewood Balmoral for block parties, residents’ council, and neighborhood events such as Fall Fest, the Yard Sale, and more. Neighbors know and support on another. On 9/11/2001, our block gathered in stunned sadness – coming together to mourn those lost. We create educational funds for children whose parents have died, support the local homeless shelter, and promote local small business -retail and restaurants that are owned and managed by our friends.
For a map of comparable properties and analysis of homes sold and homes for sale in Lakewood Balmoral and surrounding neighborhoods (Graceland West, East Ravenswood), download this pdf file.
For information on homes for sale in Lakewood Balmoral, Graceland West, and East Ravenswood, contact Anne Rossley at Prudentail Rubloff.
Next: Why homes seem inexpensive in Lakewood Balmoral.
No properties closed in Graceland West last month. One home, 1422 W Berteau, went under contract.
The best deal for a single family home in Graceland West is 1424 W Berteau, now listed at $ 899,000. This 1908 historic home sits on a 30 x 125 ‘ lot and is a great opportunity to buy a home in one of my favorite Chicago neighborhoods.
1424 W Berteau
These properties are currently for sale in Graceland West:
This lovely home at 1422 W Berteau, in Graceland West, is now under contract. Originally listed at $ 1,395,000, it was most recently available for sale at $ 1,195,000. After 202 days, it is now sold and waiting for closing. The sales price will be public record at that time.
The home was built in 1908, and the 12 rooms (3 bedrooms / 3 1/2 baths) were fully renovated with top of the line appliances and cabinetry. It sits on a 30 x 125 ‘ lot, with a fenced yard and 2 car garage.
Graceland West is an historic neighborhood with grand homes on oversized lots. It’s located in North Lakeview, just west of Graceland Cemetery.
Today there are 10 single family homes for sale in the Graceland West Neighborhood, a small set of historic houses just north of Irving Park (4000N) and east of Ashland (1600W). It’s a beautiful historic Chicago community, and many homes have been restored or rehabbed for today’s discriminating buyer.
Homes range from $724,500 to $3,389,000, many on oversized Chicago lots. Here are just a few of the offerings…
This 1912 greystone in Graceland West, near the Southport corridor, sits on a 33 x 125′ lot, and has recently been renovated. The home includes 5 bedrooms and 4.5 baths, with radiant heat, 3 masonry fireplaces, and a media room.