SLEEPING BEAUTY: This amazing 19th century Victorian house is one of the latest victims of Chicago's foreclosure crisis. It is now listed at $530,900, a dramatic comedown from its $899,000 price four years ago.
Ever wanted to own a century-old Queen Anne Victorian with exquisite woodwork and stained-glass windows, the kind of historic Chicago home that routinely went for around a million dollars? Now may be your chance — at bargain-basement prices unimaginable until recently.
Check out this beautiful Edgewater 4-bedroom house at 6316 N Magnolia, currently a bank-owned foreclosure, for $530,900. The former owners listed it at $899,000 in 2006, and then steadily hacked sizable chunks off the price until the stately home slid into short-sale territory in 2008, and then into foreclosure.
It makes me sad to imagine such a gracious bit of Chicago history in some bank’s hands, abandoned and untended. The only silver lining is that now some ordinary homeowner might actually be able to afford such a gem.
A WINDOW ON THE PAST: Check out this glorious original stained-glass window over the stairwell.
While this Queen Anne stands out, there are now at least 10 turn-of-the-century homes for sale at a similar price point in Edgewater. Many of them would have fetched upwards of $700,000 just two years ago.
In the desirable Lakewood-Balmoral historic district closer to Andersonville, where relatively few homes change hands each year,we have also seen more modest price reductions. There is now a 1903 home listed at $835,000 at 5253 N Lakewood,which has been on the market for more than 9 months. It was originally priced at $925,000.
So if you’ve always dreamed of owning one of these charming Victorian homes but found the prices simply out of reach, it may be time to reach again… especially in Edgewater.
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