Sunday, December 28, 2008

Premium for Green: Ravenswood Single Family Home on the Market for $1,390,000

One of the solar panels catching some rays on a clear day.

I wrote about this home at 4610 N Wolcott in Ravenswood (and it's cousin right next to it) just a little while back. I had a chance to stop by today and talk about the house with the listing agent Dan Sullivan. Dan was able to discuss the reclaimed materials, local vendors and energy efficiencies that make the home attractive to those concerned about the environment, wasted energy and craftsmanship. The agent remarks on the MLS claim it is "70%-75% more energy efficient".

Poor Dan had to talk to me for almost an hour. At least he had the wet bar to lean on.

My impression is a well built home that does it's best with a narrow, but long, lot. The finishes have a very coherent design... and the materials are great to look at and feel. Small things like a back staircase and mudroom off the great room and a brick garage with wood burning fireplace make the home more appealing to me than other area new construction competitors in the price range.

Check out the developer's web site for the rundown of green building features.
As I wrote earlier, it suffers from the Brown Line train tracks that curve by directly across the street. But I toured the home for an hour and was not disturbed by the passing train that I can recall. Another minus is the buildings to the north and south are not very attractive. Although, the building to the south is a tear-down that has been on the market and should be something more pleasing one day. The price has been reduced to $1,390,000 from it's original list price of $1,550,000.

There is a comparable single family home "fire sale" of a 3 year old new construction single family home for $999,900 on the same block. I'm not a fan of the finishes throughout that house... but you'd have to really want to hug a tree for an extra $300,000.

If you are a single family home buyer over $1,000,000 that likes the Ravenswood neighborhood, I would recommend viewing this home. It is classy, modern but not overly so, and has small features that show thoughtfulness.

Little things...rear staircase and mud room, wood burning fireplace off the brick garage, functional yard and patio, "green" low maintenance landscaping on roof, and a not so little refrigerator.


Anonymous said...

We paid more for our green condo in Lincoln Square, but hugging trees wasn't the only reason behind our purchase.

Green buildings help save more than just the environment. We feel we are also saving green(backs) due to anticipated energy savings that will reduce our heating and cooling costs. So altruism wasn't our only motivating factor.

We could have purchased a 2BR/2BA condo with similar square footage in a tradional building for a lot less, but we felt this was a good investment at this time.

The house you showcase is very nice, but there are less expensive green options in Chicago too.

I'm looking forward to reading your posts in the New Year!

Eric Rojas said...

Victoria... thanks so much for the balanced comment. I was hoping someone would catch my "tree hugger" attempt at a joke. I can't help myself.

I suspect you may have bought into the Fountain View... not only "green", but one of the coolest locations you can get city-wide. They did go for a high dollar per sq/ft, but the lifestyle makes up for it.

I hope you do keep reading and contributing. Story tips and posts you may like to make are appreciated, so email any time.

Anonymous said...

Yes, I will admit to living in Fountain View, but it's not something that I readily tell people. I didn't realize before we moved in that the building upset people, but I should have known better.

The tame graffiti we found on the sidewalk outside the front door ("No new Condos...This isn't Lakeview!") when we moved in makes me more cautious. Now I say "we live near Western and Lawrence" when people ask.

Of course, some people don't mind us being there -- especially the business owners whom we support all the time. You are right about the fantastic location! Everything we need seems to be a few blocks from our door.

I started reading your blog last September when we started our condo hunt, and I find it's still informative now that I live in the neighborhood. I don't know if I'll have much to add, but I couldn't ignore your "tree hugger" bait ; )