A NOT SO GLAMOROUS LOOK AT THE UNDERBELLY OF CHICAGO'S HOUSING MARKET


All photos taken live from Chicago properties & environs

Showing posts with label humboldt. Show all posts
Showing posts with label humboldt. Show all posts

Monday, May 7, 2012

Chicago Sells Off Sidewalks to Hasbro

In his continued push to allow the private sector to control elements of Chicago's infrastructure, the Mayor has begun leasing sections of Chicago's highly prized sidewalks.

Some residents have already begun complaining that walking on certain portions of the leased sidewalk could mean an immediate trip to jail. And a few keen eyes have noted that the promised 'free parking' is nothing more than a gimmick since the one available spot is always occupied by a mysterious black van. One member of the city's highly influential government subsidized population was excited about the prospect of gaining 200 dollars for "nothing more than walking around the block." AVONDALE

Wednesday, March 28, 2012

Bank Forces Homeowner to Play William Tell


An investigator for a large national bank showed up at this Logan Square two flat last week, bearing a crossbow and painted the dreaded Burroughs Circle on the kitchen wall before asking the borrower to assume the position and verify one more time if he's actually been unemployed for three years or has chosen not to work and live rent free. The home appeared vacant upon inspection with the buyers noting the strong smell of "something rotting."
LOGAN SQUARE

Friday, January 20, 2012

I Always Feel Like...Somebody's Watching Me


The potential buyers of this Humboldt Park single family home couldn't escape the eerie feeling that somebody was watching them.
HUMBOLDT PARK

Monday, December 19, 2011

Dual Flush Toilets for the Budget Minded

First time home buyers with limited budgets have discovered that five minutes with a sledgehammer significantly strengthens their environmental credentials.
Humboldt Park

Thursday, May 19, 2011

Could the Incans Build a Temple here?

“Wasn't that the place with the short basement ceilings?” my client asked as if he was Granpa trying to remember his childhood home.

“I think so. Let me check the photos.”

A buyer will see so many homes that eventually he will think the kitchen of one place belongs to the living room of another that has the yard of a completely different place.

Besides the photos, going back for a second visit usually keeps a place in the running, or finds it unceremoniously dumped like an internet date with a falsified photo.

An investor bought the property in foreclosure for $30,000. They renovated the home, two stories and a rehabbed basement converted into a famous Chicago 'in-law,' which should probably be known as an 'out-law' considering the city considers them illegal if not zoned properly. But people need a place to live, and many building owners rent out basements to those looking to save a few dollars and enjoy the fresh smells of Mother Earth. Rarely are the apartments ever shut down.

The new owner wanted $150,000. And people will think, “that's a crazy mark-up, I'll just buy my own cheap place and renovate it.” Except few people today can get a bank to loan them money on a trashed property and then find the additional $75,000 to do the work. Or they don't have the time.

And one major benefit of buying a home from a Rehabber is that often times you can negotiate in your contract to get them to either fix things to your inspector's recommendations, or better yet, they will tear down a wall, build a garage, add fixtures, even put on a dormer. As long as the property can appraise, it's like getting a rehab loan without the work. Your place is ready for move-in at closing.

The date was going well. The top two floors looked exactly how we remembered. Wood trim preserved, hardwood re-finished, windows replaced, and bathrooms completely remodeled. But the basement was the core. The date conversation was changing from 'what's the last movie you saw' to 'how do you feel about an open relationship?'

A home with a finished basement that has separate entrances along with a bath and a kitchen hookup lets an owner have additional 'roommates' or family stay with them. It's tangible security. Many will take their chances with the city and rent it since the new income will be the difference between just making the mortgage and having Alinea money every month. Or Petrillo's.

The descent down the re-built stairs allowed the new paint fumes to excite us with possibility. And a cheap afternoon high. That was a joke. You can't get high on latex paint fumes. I've watched people in the alley try, unsuccessfully, until they gave up and found the nearest 40 ounce bottle of a fine malted beverage gently sheathed by the slight crumpled reveal of brown paper.

The cermaic tile glistened. Basements are the only part of a home, outside bathrooms, that are allowed to have tile. That's a law. An unwritten law that keeps your hard earned money from going to waste on wood floors that will warp or carpet that is bound to asphyxiate your tenants with a moldy stank. My client strolled the large living area with a smile inching up his face until he saw scraping my ear scraping against the freshly drywalled ceiling. I guess I could travel the apartment by office roller chair like Alex P. Keaton.

I turned to the investor/owner/sales guy, my aching head slanted ninety degrees. “You did such a nice job of renovating this place. It shows great. But what happened down here? Did you think Chicago had an under served dwarf population tired of getting on step stools to open their bathroom doors?”

“No, actually, it's funny you bring that up, cause, you know, we debated taking the floor down some, but we figured this apartment would be for a hispanic family. And they're short, you know. They can definitely fit in here. This neighborhood has lots of them hispanics. But you know something, about 90% of the people who come to look at the building are Anglos, like you guys.”

“I'm not actually an Anglo. I'm just White.”

I yelled over to my client, his smile retreating back to neutral, “Hey, are you an Anglo?”

“No, not really. Part German, but mostly I'm just White.”

First dates are always deceiving. The second date predicts the future. And this relationship will be another one of the many, where one kitchen merges with somebody else's perfect master bathroom. The Hunt continues.

Friday, April 29, 2011

I Always Wanted to Marry a Foreclosure

“Hey, can we go look at that two flat, the one in Logan for $120,000?,” my client asked excitedly, delightfully oblivious to the car crash he was about to encounter.

“Uh, yeah, sure, but you know it's going to most likely need some work, and you weren't that keen on anything more than painting and some floor refinishing.”

“I know I said that but I've got a good feeling about this one. Something about the outside photo speaks to me.”

Apparently, he'd never explored the all too real world of online dating, where dreamy avatars arrive for coffeeshop dates aged by vienna beef and a cracked rolodex of spoiled romances.

“Alright, we'll take a look. Maybe you're right. I'm sure somewhere in Chicago real estate history a solid underpriced property has been forsaken by buyers for months, while it waited for just the right visionary, who keenly understood that painting those purple walls white would change everything. I'll meet you tomorrow at 3.”

A clean vinyl sided two flat awaited, taunting us like a cantankerous curmudgeon of an old maid, determined to thwart suitors until her rapidly approaching death. VINYL SIDING...Is there a more heinous material in the history of home building? A house built with wet dung is more architecturally appealing. Duct taping giant garbage bags around the exterior wall studs would even surpass the nausea that vinyl siding brings to the senses. Write your Senators. And your alderman. Ban that Shit! (Full disclosure: I'm so embarrassed by the vinyl that enshrines my building that I meet guests on the corner and escort them blindfolded to my door).

“Let's do it,” my client said with no hint of irony, a lifetime of happiness still awaiting him behind Door number one.

The smell of abandonment pervaded like the metamorphosis of mold and cat pee. The floors were still original hardwood though, which should be Chicago's new moniker. Fuck The Windy City. It's the City of Hardwood Floors. You may find a home drowning in yellowed Tribunes and Harold's Chicken boxes, mold blackened bathrooms, and shot out windows, but I guarantee you the realtor (or seller) will turn to you with the straightest face possible and earnestly declare, “Look at the hardwood floors. A quick polish and they'll really turn this place around.” Sure, if you're ok bathing in a plastic tub in the rear corner of the basement and inhaling cracked plaster on your elevated air bed.

“Hey, check out these moldings,” my client barked, still refusing to face the reality that his cyber date isn't even a woman.

“Yeah, not bad, only three, maybe four layers top of paint to strip.”

The rotting galvanized plumbing clawed out from the broken bathroom walls. Two presidencies worth of mold extracted the Bush empire from the forgotten bile in the pit of your belly. Stepping inside the oval office was not an option. The Spinster was beginning to show her spite. Walking down the brief hallway revealed everyone's new favorite room, the former dungeon of domestic servitude, El Kitchen.

A violent storm of post foreclosure looting dropped a Category 5 on my client's Emeril fantasies. Bam!

The countertop had been completely removed leaving only the plywood skeleton, which hung in the air like a subprime diving board. More broken rusty pipes poked through the cracked cabinetry to offer a salutary welcome. And then the Old Lady crapped on us.


“What was that?”the first octaves of concern bellowed from the buyer's mouth.

“Um, she wants us out.”

“Huh?”

“Look up”

A crop circle of peeling paint neatly framed a tub size crater. A small FHA obstacle.

He wanted to swear of internet dating unaware that it's a numbers game. Everything's a numbers game.

“Hey, listen, you can get a rehab loan, and really make this place something. Probably add $80-$100 grand to the purchase price, and in a year you'll have the place you wanted,” I consoled, trying to minimize the hurt a misleading photo will do to a young man's heart.

“You know, I think I'll have to pass on this one. It's a little more work than I thought.”

“But don't you want to see the upstairs unit. Or the basement. Maybe those were kept pristine. This is the classic 'show 'em your ugly side first, and if he can bear with it, than he may be the one' move.” Again, consoling the bereaved.

“Uh, well, uh, ok. Let's take a look upstairs.”

The back porch was quickly reclaiming it's place in Chicago's clay earth, the perilous slant inebriating us for our upper deck arrival. A rusty water heater greeted us with the tip tap tip of it's final fluids. The kitchen had vanished. Abducted? Transplanted? We walked a circle of wonder around The Bam room, two old men at a Mapplethorpe exhibit. The matron waited. So what's it gonna be boy. Can you handle me?

“It's alright. We can go back downstairs. I'm ready,” the solemnity dripping from his mouth like the water tank that now bid us adieu.

Passing back through the downstairs kitchen was a painful Christmas tour of a childhood family album, now digitized by Dad to allow immediate trauma, On Demand. A sticky spatula glanced from the spot where the stove once sat. My client did the foreclosure walk of shame. Look around Chicago for wood boarded windows or a giant orange sticker on a padlocked door. If you see somebody leaving that home, not the one with the bad suit and a bluetooth, but the person accompanying, dejected, face to the ground, wondering what he was thinking, questioning why she couldn't have just posted some real time photos of herself. Everyday in Chicago, hundreds of prospects do the same walk.

But there's hope. There's always hope. It's what makes us human. And, of course, the Bank, who despite tight-assing their soaring profits, is still happy to give you a few more dollars to get the home you deserve.

“Hey, c'mon now,” I said like Coach after another beatdown, “Chicago's a big city. There's no such thing as only one soul mate. We're flooded with options here. I mean, did you see at least see those hardwood floors?”