Old Town Single Family Home for Sale – $2.8 MM

 

This home is newly available for sale, but you WILL NOT find it in the Multiple Listing Service.

The brick single family home, near the Menomonee Club and Old Town Triangle building, was previously a 2-flat, and has been rehabbed by the current owners. Now it’s ready for buyers who crave grand spaces (7000 square feet!), privacy (brick walls enclose the compound), and fabulous entertaining spaces (both inside and out) in a location near everything Chicagoans love!

Do you Love to Entertain?

Outside, there are 3 entertaining spaces.  Over the 2 car garage is a lushly landscaped deck overlooking Crilly Court.

1740 N Wells Roof Garden over Garage1740 N Wells Garage Roof Deck

 Do you Love to Garden?

Between the house and the garage roof deck, a paved patio with landscaped planting beds provides privacy and and escape from the convenient city nearby.

1740 N Wells brick patio

Do you Love Flexible Spaces?

Bring the outdoors in to the house by opening the sliding glass doors which separate the 1st floor den from the front patio.

1740 N Wells Front Patio

Do you Love Custom Design Details unlike anywhere else?

A detail photo (below) shows the custom iron work that the owner had specially manufactured to add grandeur to the home – this delightful design detail is used to great advantage,  highlighting key areas throughout the home’s exterior and gardens.

1740 N Wells Old Town Chicago

1740 N wells - front gate

The interior photos will be posted in the next few days, but if you want to view the property right away, please contact Anne Rossley at Baird & Warner.

Three Historic Homes Under Contract

This week in Chicago real estate, 3  historic properties went under contract:

1723 W Winona

$ 699,000

1723-winona

This Andersonville home was built in 1896 – a 3 bedroom home on a standard Chicago lot, it was renovated in 2003 and is close to the Clark Street commercial district, red line, and Metra.

2100 N Fremont

$ 1,798,000

2100-fremont

One of the historic Italianate Fremont rowhouses, this 1875 home with coach house was lovingly restored.  It’s one of a landmark group of homes – some of the earliest surviving properties built with the newly required “fireproof” masonry” post-Chicago fire.

225 W Eugenie

$ 3,999,000

229-eugenie

This 1874 Old Town treasure is a modern gem hidden behind the facades of 2 Victorian houses.  A large private garden, lofted studio building, and 2 car garage are included, and “no expense was spared in the design, materials, or details of this private and sophisticated compound.”

For information on these or other real estate in Chicago, please contact Anne Rossley.


1454 Orleans – Old Town Single Family $715,000

Open Sunday

1 – 3 pm

This gorgeous single family is an incredible opportunity…

  • Chef’s kitchen includes Five Star Range, Subzero, S/S appliances
  • Granite Counters and eat-in island
  • Huge outdoor deck and stone patio
  • Built-in brick grill
  • Impeccable finishes and lovely woodwork
  • Better than a condo or townhouse — low monthlies and total control of property rights!

Jan – Feb Chicago Single Family Home Sales

With all the bad real estate news being generated, it’s important to understand the local Chicago real estate market, putting the numbers into a meaningful perspective.

At first blush, one sees that Jan/Feb median sales prices were off 30.3% vs the first two months of ’08.  However, if you compare the 2 month average to the entire year, smoothing out the high of last January and February, prices are down 12.1 %.  Similarly, JF ’09 single family homes sold on the north side (44) are off 29% vs the same 2 months of ’08, but compared to the ’08 monthly average of 49, the two month total is down 10.2%.

In the past month, 60 homes have gone under contract, with a median sales price of $ 925,000.

Currently, there are 610 single family homes on the market whose median price is $ 1,295,000.  That represents over a 12 month supply of inventory — high, but not disastrous.  (Lenders like less than 6 months inventory to describe a market as “healthy.”)

In evaluating market times and sales to list price, it gets a little dicey.  Market times in the MRED include new construction homes which might be listed from the time the developer decided to break ground.  Of the closed homes, there are market times of 2, 7,12…97…185…899 days… i.e. an average would be meaningless.

Sales prices traditionally have been 95% in the Chicago market.  One would think that sales prices would be way off that mark.

Once the list price comes down to a level which generates an offer (final list price), however,  the average sales to list price was 92%.  For these same homes in JF ’09 , the final sales price was 88.3% of the ORIGINAL list price.

Of the 44 homes closed, 15 were listed over $ 1,500,000.  Of these, 7 were new construction.  Only 2 of the 29 under $ 1.5MM were new.

See the “Sales and Trends” page for graphs for the past 4 years.

For other sales data, or for information on specific properties that have closed, please contact me today!

This data, taken from MRED, includes single family home sales for the following neighborhoods:
  • Gold Coast (Near North)
  • Lincoln Park
  • Lakeview
  • North Center
  • Lincoln Square
  • Uptown
  • Ravenswood
  • Edgewater

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