Now, let me start today’s conversation by saying that no one loves an old house more than me. We bought our beloved 1893 George Maher house and spent nearly two years renovating a structure that others might have readily torn down. Or have it “accidentally” catch fire - like the one down the block a number of years ago (things happen).
However, sometimes saving an older house may seem contrary to a parcel’s “highest and best use,” a notion which my property law professor drilled into my head.
I always get a kick at neighborhood meetings when residents object to a development simply because something old will need to be torn down, whether it has historic merit or not (the loudest objectors seem to always fall into the same categories: young post-college kids who rent studio apartments, cranky altacockers who relish the idea of complaining about any change in the neighborhood, and anyone who grew up in Oak Park).
My response to all the objectors is always the same: you buy the house and then you can save it.
Which brings me to one of my listings - at 1436 W. Foster - an estate sale. Situated on an oversized 58' x 125' lot, this wonderful 1895 vintage house has remained in the same family for over 60 years - and looks it. Even though the house retains so much of its original charm and features, it is in desperate need of an overhaul. The beneficiaries of the estate were adamant: they wanted a buyer who would honor it, preserve it, and renovate it.
With aggressive outreach, we received 4 offers for the house in a week. Three of the offers came from buyers committed to renovating the house; but the highest was from a developer eager to put the land to its “highest and best use” by demolishing it. When I presented these offers to our seller, they elected to forgo the premium offered by the developer and sign up a deal with the next best offer.
Under our tutelage, the fate of this home is now a win for the seller, a win for the buyer, and a win for the neighborhood. In my mind, that’s “highest and best use” at its best.
|
The 10-day Chicago Cabaret Festival features a lineup of more than 70 of Chicago’s top cabaret artists performing blues, Broadway, burlesque, jazz, R&B, American songbook, French chanson, and world music at 16 venues.
Cabaret has been at the heart of Chicago’s nightlife for more than a century and this festival celebrates this special relationship. Festival venues are intimate spaces, including small theaters, restaurants, churches and clubs — many of which feature cabaret events throughout the year.
Tickets are available at each venue, with special Cabaret Week prices of $30 or less.
|
The 27th annual Chicago Mayfest kicks off the summer festival season this weekend. Located in the Historic District of Lincoln Park at Armitage & Sheffield, the event benefits the Ranch Triangle Community Conservation Association.
Two stages will showcase Chicago’s most acclaimed musicians while festival goers enjoy a variety of delicious food and all the libations needed to light up your weekend. You won’t want to miss this celebration of the sights, sounds and tastes of Chicago’s glorious Summer Season. Now with the Armitage Art Show in the heart of the festival, you’ll get to experience Chicago’s top artists as they showcase and sell their work with interactive experiences.
Let the kids enjoy our family carnival area while you wet your whistle with Chicago’s famous Red & White Sangria – available at any of 3 bars.
|
Offered at $625,000
Open House Sat & Sun 10:00 - 12:00
|
|
1040 N. Lake Shore Dr. #25D
|
|
950 N. Michigan Ave, #2203
3 Bed | 3.1 Bath Michigan Avenue
|
4 Bed | 2 Bath Andersonville
|
1100 N. Lake Shore Dr, #33A
3 Bed | 2.1 Bath Gold Coast
|
3 Bed | 2 Bath Gold Coast
|
3920 N. Lake Shore Dr, #9S
3 Bed | 3.1 Bath East Lakeview
|
1 Bed | 1.1 Bath Gold Coast
|
1 Bed | 1 Bath Gold Coast
Offered for rent at $2,695/month
|
1 Bed | 1 Bath Margate Park
Offered for rent at $1,650/month
|
|
5 Bed | 6.3 Bath Gold Coast
Spectacular renovation of historic
greystone mansion.
To be offered at $5,595,000
|
3232 N. Halsted St, #D309
2 Bed | 2 Bath East Lakeview
Beautiful condo with huge terrace
and tandem parking space.
To be offered at $625,000
|
|
|
|
180 E. Pearson St, #5405
Fabulous renovated residence
To be offered at $1,775,000
|
2 Bed | 2 Bath East Lakeview
Gracious pre-War residence.
|
2 Bed | 2 Bath East Lakeview
Stunning penthouse in boutique
|
|
|
|
Check
out our
Brad Lippitz Group?"
|
Modern. Vintage. Architectural. Cool.
|
And everything in between.
|
Check out previous "Into the Weekends" here.
|
|
© Compass 2024 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass Real Estate is a Licensed Real Estate Broker with a principal office in New York, NY and abides by all applicable equal housing opportunity laws. All material presented herein is intended for informational purposes only, is compiled from sources deemed reliable but is subject to errors, omissions, and changes without notice. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
marketingcenter-- |
|
|
