NOT LISTED FOR SALE

Estimated Value: $2,272,042 - $2,785,000

6 Beds
7 Baths
2,991 Sq Ft
$824/Sq Ft Est. Value

Last Sold August 01, 2023

Last sale price $2,520,000 $843 Per Sq Ft

Est. 2% decrease in value since last sale

Current estimated payment $16,531/month

37 Days on Market

Highlights

  • Rooftop Deck
  • Greystone Architecture
  • Balcony
  • Lincoln Park High School Rated A
  • Lower Floor Utility Room
  • 2-minute walk to Mariano (Louis) Park

About This Home

As of August 2023

Experience classic Chicago living at its finest in this Gold Coast Greystone home with a rich history. Originally built by Potter Palmer, the visionary behind the Palmer House, this stunning property offers a rare opportunity to own a piece of Chicago's past. Zoned DR-3, this property offers various possibilities for use, making it ideal for those seeking an investment opportunity or a spacious home for multi-generational living. The property features a sun-filled owner's duplex-up unit that spans two full floors and a partial third floor with a rooftop deck, providing breathtaking views of the city skyline and Lake Michigan. The main floor features a spacious open floor plan that is perfect for entertaining. Large, south-facing bay windows flood the room with natural light, highlighting the impressive 10' ceilings, built-in bookcases, hardwood flooring, moldings, and charming arched doorways. An 1880 Art Nouveau French Pewter Mantle Fireplace adds warmth and elegance to the formal living room. Pass through the gracious arches to the large formal dining room onto the large kitchen with a family room centered by a fireplace. The backstairs lead to the paved back patio perfect for grilling and entertaining. The second floor boasts three full bedrooms, three full bathrooms, skylights, an office/library, and a balcony spanning the width of the building. The primary bedroom features a third fireplace, three closets, and a bathroom with separate shower, double sink vanity, Jacuzzi tub, and sauna. An enclosed kitchenette on the partial third floor leads to a private rooftop deck, perfect for gardening and hosting while enjoying stunning city views. The property also includes a first-floor unit with two bedrooms, two bathrooms, a full kitchen, and a balcony, as well as a garden unit with one bedroom, one bathroom, and a kitchen, each with their own egresses. All units feature quality finishes, separate in-unit laundry, central furnaces, A/Cs, and water heaters. This magnificent home is nestled on a tree-lined Cedar Street, among historical mansions, in a walker's paradise location. One block to Lake Michigan and one block to the Triangle at Mariano Park, this property is steps away from high-end shopping and dining. Two valet garage spaces located across the street at 33 Cedar available for purchase. Don't miss your chance to own this elegant and historic Gold Coast Greystone, the perfect place to call home!

Last Agent to Sell the Property

Carrie McCormick

@properties Christie's International Real Estate License #475123706 Listed on: 04/20/2023

@properties Christie's International Real Estate

Last Buyer's Agent

Thomas Klahn

Quest Realty Group LLC License #475142679

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $40,219

Year Built

  • Built in 1895

Lot Details

  • 2,178 Sq Ft Lot
  • Lot Dimensions are 20x125
  • Paved or Partially Paved Lot

Parking

  • 2 Car Detached Garage
  • Garage Door Opener
  • Parking Space is Owned

Home Design

  • Greystone Architecture
  • Brick or Stone Mason

Interior Spaces

  • Lower Floor Utility Room

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 6 Potential Bedrooms
  • 7 Bathrooms

Partially Finished Basement

  • Walk-Out Basement
  • Exterior Basement Entry
  • Sump Pump

Outdoor Features

  • Balcony
  • Rooftop Deck
  • Patio
  • Outdoor Storage

Schools

  • Ogden Elementary
  • Lincoln Park High School

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Lake Michigan Water
  • Multiple Water Heaters

Community Details

  • 3 Units

Listing and Financial Details

  • Senior Tax Exemptions
  • Homeowner Tax Exemptions

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$40,219

Year Built

Built in 1895

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential Income
  • Property Type: Two to Four Units
  • Ownership: Fee Simple
  • ArchitecturalStyle: Greystone
  • New Construction: No
  • Year Built: 1895
  • Age: 100+ Years
  • Built Before 1978 (Y/N): Yes
  • General Information: Commuter Bus,Historical District
  • Rebuilt (Y/N): No
  • Rehab (Y/N): No
  • Actual Status: Closed
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Walkout
  • Total Bathrooms: 7
  • Total Bedrooms: 6
  • Other Equipment: Sump Pump, Multiple Water Heaters
  • Room Type: Utility Room-Lower Level
  • Basement Description: Partially Finished,Exterior Access
  • Below Grade Bedrooms: 0
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Washer,Dryer,Dishwasher,Microwave,Central Air Conditioner,Fireplace-Gas,Laundry Hook-Up,Hardwood Floors
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Washer,Dryer,Dishwasher,Microwave,Central Air Conditioner,Fireplace-Gas,Laundry Hook-Up,Range Hood,Hardwood Floors,Walk-In Closet
  • MRD_AppliancesAndFeatures: Stove,Refrigerator,Washer,Dryer,Dishwasher,Microwave,Central Air Conditioner,Fireplace-Gas,Laundry Hook-Up

Exterior Features

  • ExteriorFeatures: Balcony, Deck, Patio, Roof Deck
  • OtherStructures: Storage
  • Waterfront: No
  • Exterior Building Type: Brick,Stone

Garage/Parking

  • Garage Spaces: 2
  • Number of Cars: 2
  • Garage Details: Garage Door Opener(s)
  • Garage On-Site: No
  • Garage Ownership: Owned
  • Garage Type: Detached
  • Parking: Garage

Utilities

  • Sewer: Public Sewer
  • Heating: Natural Gas, Forced Air
  • Water Source: Lake Michigan

Condo/Co-op/Association

  • Community Features: Sidewalks, Street Lights, Street Paved

Schools

  • Elementary School: Ogden Elementary
  • High School: Lincoln Park High School
  • Middle/Junior School: Ogden Elementary

Lot Info

  • Additional Parcels: No
  • Lot Size Acres: 0.05
  • Lot Dimensions: 20X125
  • Lot Size: .25-.49 Acre
  • Special Assessments: N

Rental Info

  • Board Number: 8
  • Is Parking Included in Price: No

Tax Info

  • Tax Annual Amount: 40219.24
  • Tax Year: 2021
  • Tax Exemptions: Homeowner,Senior

Multi Family

  • Units in Building: 3
  • Three Bedroom Number of Units: Yes
  • Type-Multi: 3 Flat

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 20, 2023
Closed on
Jul 28, 2023
Sold by
Chicago Title Land Trust Company
Bought by
46 East Cedar Acquisition Llc
Seller's Agent
Carrie McCormick
@properties Christie's International Real Estate
Buyer's Agent
Thomas Klahn
Quest Realty Group LLC
List Price
$2,750,000
Sold Price
$2,520,000
Premium/Discount to List
-$230,000
-8.36%
Views
60
Current Estimated Value
$2,464,011

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$55,989
Avg. Annual Appreciation
-0.93%
Original Mortgage
$2,142,000
Outstanding Balance
$2,075,157
Interest Rate
5.75%
Mortgage Type
New Conventional
Estimated Equity
$388,854

Purchase Details

Closed on
May 28, 1996
Sold by
The Chicago Trust Company
Bought by
Harris Bank Hinsdale
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
46 East Cedar Acquisition Llc $2,430,000 Chicago Title
Harris Bank Hinsdale $1,420,000 1St American Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 46 East Cedar Acquisition Llc $2,142,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/01/2023 08/01/23 Sold $2,520,000 -8.4% $843 / Sq Ft
05/28/2023 05/28/23 Pending -- -- --
04/20/2023 04/20/23 For Sale $2,750,000 -- $919 / Sq Ft
Source: Midwest Real Estate Data (MRED)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $43,464 $246,000 $79,643 $166,357
2023 $42,371 $206,000 $64,125 $141,875
2022 $42,371 $206,000 $64,125 $141,875
2021 $40,219 $206,000 $64,125 $141,875
2020 $40,536 $187,547 $44,887 $142,660
2019 $40,083 $205,676 $44,887 $160,789
2018 $42,805 $222,881 $44,887 $177,994
2017 $37,019 $178,040 $35,910 $142,130
2016 $35,159 $178,040 $35,910 $142,130
2015 $32,144 $178,040 $35,910 $142,130
2014 $29,149 $159,674 $30,780 $128,894
2013 $28,562 $159,674 $30,780 $128,894
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Midwest Real Estate Data (MRED)

MLS Number: 11760073

Midwest Real Estate Data (MRED)

APN: 17-03-201-045-0000