A 3-story Greystone-style constructing on North Sheffield Avenue in Lakeview that is likely one of the solely multifamily buildings going through the right-field wall of Wrigley Field not already within the fingers of the homeowners of the Chicago Cubs is in the marketplace for $5.9 million.
The four-unit constructing traditionally has been identified for the massive billboard on its roof that for many years was simply noticed by followers within the ballpark and TV viewers.
After the Ricketts household purchased the Cubs in 2009, they went on a shopping for spree, buying many of the buildings past the ballpark’s left-field and right-field partitions, notably these with rooftop seating. However, alongside the right-field wall, two holdout properties that traditionally had views into the ballpark, at 3627 and 3631 N. Sheffield, proceed to be owned by different entities.
Those two buildings’ views modified after 2013, when the Cubs erected a big video display screen with a Budweiser signal above the right-field bleachers, thus blocking the views into the ballpark from the roofs of the buildings at 3627 and 3631 N. Sheffield. Even so, the constructing at 3627 N. Sheffield has bleachers atop it.
Now, the Greystone-style constructing at 3631 N. Sheffield is in the marketplace for the primary time in additional than a century, based on its itemizing agent, Kelly Angelopoulos of Jameson Sotheby’s International Realty. For many years, the constructing was identified not for rooftop seating however for a big Torco signal on its roof that first was positioned on its roof in 1941. In latest years, different advertisers have positioned their messages on the constructing’s rooftop billboard.
Angelopoulos informed Elite Street that she “can’t speak” as to if a purchaser may obtain metropolis permission to assemble bleachers on the roof of 3631 N. Sheffield that will be perched excessive sufficient to see excessive of the Budweiser signal.
Built about 1900, the 4,869-square-foot constructing has 12 bedrooms, six bogs, a marble entry lobby, millwork, a handcrafted wood staircase with a skylight, and a rear wooden porch. Outside on the 30-foot-wide property is a two-car storage off the alley.
Its proprietor, Gregory Ozog, purchased the constructing in 2000 for $720,000. He first listed it in June for $8.3 million, however struck in his try and promote it at that value. He lower his asking value to $7.5 million in July, and to $7 million in August. Ozog then lowered the constructing’s value additional on Sept. 23, to $5.9 million.
The constructing had a $47,657 property tax invoice within the 2020 tax yr. However, the Cook County Assessor assigns the constructing a market worth of $1.68 million, which is about 29 % of its asking value. So, a purchaser on the asking value could be anticipated to see the constructing’s property taxes triple.
Goldsborough is a contract reporter.
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Source: www.bostonherald.com