Sue Fox, @Properties. Direct 773.816.1788

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Chicago bungalow of the month

filed under: Bungalows, Buyers, West Ridge posted on October 18th, 2010

A CLASSIC BUNGALOW: Located at xxx in West Ridge

A CLASSIC BUNGALOW: Located at 2705 W Lunt in West Ridge, this 3-bedroom bungalow was built on an extra-wide lot in 1925. It needs a bit of work to restore its lovely woodwork, hardwood floors, and built-in bookcases flanking the fireplace. Judith Newton of Coldwell Banker has the listing.

Check out this beautiful octagon bungalow that recently hit the market in West Ridge, just a block west of Indian Boundary Park. It needs a little TLC, including cosmetic upgrades and a new roof, but the oversized lot and spacious rooms may make this bungalow worth the effort.

Located at 2705 W Lunt, the home was built on a 40×125 foot lot, which is a good 15 feet wider than the standard size in Chicago. That leaves plenty of room for a large living room (20×18) surrounded by windows, a spacious formal dining room (17X14) and three large bedrooms, all on the main level. Although much of the original woodwork has been painted over and the floors are carpeted with a greenish-yellow shag, the structure of this classic 1925 bungalow is intact. All it would take is a bit of money and elbow grease to restore the woodwork and hardwood floors (not to mention the kitchen, which currently features an unfortunate acoustic tile ceiling, outdated cabinetry, and what looks like a sheetrock backsplash).

Yes, it’s a bit of a project, but not a total gut. A homeowner with patience and some extra cash could certainly restore this sleeping beauty, returning it to its historic charm and creating a beautiful home to enjoy. It’s been on the market for just three weeks, priced at $295,000. And the seller is even willing to include a classic 1965 Chrysler convertible with the sale of the home (no word on the condition of the car, which, judging from the house, may also need some love.)

Written by Sue Fox // Please leave a comment.

A condo for the price of a car: 6148 N Ravenswood in West Ridge

filed under: Buyers, First-time buyers, Foreclosures, Rogers Park, West Ridge posted on March 27th, 2010

LIVE CHEAP: Imagine! A condo with a new kitchen for less than the price of, say, a new kitchen!

LIVE CHEAP: Imagine! A condo with a new kitchen for less than the price of, say, a new kitchen! Dave Gould of @properties has the listing.

Check out this new listing in West Ridge: A studio condo for $28,500. Which is less than some people pay for their cars!

So , what kind of a home can you buy on Chicago’s North Side for less than $30,000? A foreclosure, for one. This condo, located at 6148 N Ravenswood in West Ridge, is also a garden unit consisting of just two rooms: a 14×10 “living room,” which appears to double as the dining room and bedroom, and a 10×10 kitchen. It’s tiny, but hey, it’s still a condo.

The building is apparently in some financial trouble. Another foreclosed condo there, a  2-bedroom, 2-bath unit, just closed for $81,ooo.

The studio is a Fannie Mae Homepath property, meaning that a buyer could enjoy special financing terms such as putting just 3% down. (Which, in this case, would be under $1000.)

And if you act fast, you could even qualify for the first-time home buyer’s credit! This is normally $8,000, but that’s only for properties priced at $80,ooo or higher (pretty much everything on Chicago’s North Side.) But for cheaper homes, the tax credit would be equal to 10% of the purchase price.

Written by Sue Fox // Please leave a comment.