A new-construction fixer-upper with 5,800 square feet in West Garfield Park

4317 W Lexington St, Chicago

I look at this listing and ask two questions: Why was someone building a 5,600 square-foot single-family home in West Garfield Park in 2008, and what exactly do you do with a brand-new board-up in West Garfield Park in 2010? I’m not touching the former. In the case of the latter, the answer is: You buy it in early September for $54,000 and list it at a 130-percent markup three weeks later.

Construction started on this five-bedroom / six-bath home at 4317 W Lexington St in 2008 but ground to a halt before the plumbing and wiring were installed. The home has front and side balconies, a rooftop deck, space for an elevator, and a three-car garage. It was listed Oct. 1 for $124,900; the current seller will only show a buyer around the place after an acceptable offer has been made. If no one bites, the seller intends to complete its construction by next spring.

Excluding multi-unit buildings, just 17 homes in West Garfield Park are listed at a higher price, the highest being $225,000 for a 117-year-old frame home. Only 17 single-families sold in the neighborhood between July 1, 2009, and June 30, 2010, at an average price of just $39,982, according to Chicago Magazine.

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