4440 W Lunt, Lincolnwood, IL (Chicago: real estate, how much, house)

[neeshera]

There is a new property at 4440 W Lunt in Lincolnwood which is currently on the market for $1.090,000. The original listing price in 2006 was $1,389,000. It has been sitting on the market for two years and the last price drop happened in Oct. 2008 from 1,149,000 to its current price.

This house is very close to Proesel Park and has 5 bdr and 4.1 bth with a 2 car garage. The basement is unfinished. The refrigerator, washer-dryer and carpets are not installed and are waiting to be selected by the buyer. Of course, that means, the quality of those are waiting to be decided on the negotiating price.

I seriously believe this house is extremely overpriced and the builder needs a reality check.

Any realtors out there who have advice on what should be the starting price for negotiations and how much this house is really worth for?

[GoCUBS1]

Oh no, whenever I see Lunt street (or Malina or Paulina), I think about that horrible joke about the Chicago streets named after a female body part! It's like a Seinfeld episode. I wish I had never heard that joke! Sorry.

[Drover]

"Three streets in Chicago rhyme with Regina..."

[GoCUBS1]

Originally Posted by Drover

"Three streets in Chicago rhyme with Regina..."

Oh no, not again! Do you think every Chicagoan knows that joke? This could be a test of whether you're a native Chicagoan...

[middle-aged mom]

Count me in.

[middle-aged mom]

I am a Realtor but do not work this area and so have no first hand knowledge of the local market.

I can however, see that the land last sold for $572K in 6/06.

I can also see that there are 27 other homes in the area, listed between $1.050,000- $2,299,000.

I can also see that 36 homes sold for $1,025,000- $2400,000 in the past 12 months.

[neeshera]

Thanks, middle aged mom. But I need to get an apples-to-apples comparison of this property. I don't know if the properties that got sold recently had an unfinished or a finished basement.

[Avengerfire]

Originally Posted by neeshera

There is a new property at 4440 W Lunt in Lincolnwood which is currently on the market for $1.090,000. The original listing price in 2006 was $1,389,000. It has been sitting on the market for two years and the last price drop happened in Oct. 2008 from 1,149,000 to its current price.

This house is very close to Proesel Park and has 5 bdr and 4.1 bth with a 2 car garage. The basement is unfinished. The refrigerator, washer-dryer and carpets are not installed and are waiting to be selected by the buyer. Of course, that means, the quality of those are waiting to be decided on the negotiating price...

Way overpriced.

I would start at 450k. If someone buys it it for anything over 600k they are foolish.

[Avengerfire]

Originally Posted by GoCUBS1

Oh no, not again! Do you think every Chicagoan knows that joke? This could be a test of whether you're a native Chicagoan...

Malina is not one of them.

[middle-aged mom]

Originally Posted by neeshera

Thanks, middle aged mom. But I need to get an apples-to-apples comparison of this property. I don't know if the properties that got sold recently had an unfinished or a finished basement.

Some did and some did not.

Why not work with a real estate agent that really knows the area and has been inside the homes and knows the local market, well.

It is not unusual for buyers to ask custom spec builders to " throw in" a finished basement to get the property sold, in this market. That "throw in" is not going to show on comps.