Today's news: $22 per square foot for a Humboldt Park REO

1631 N Springfield Ave, Chicago

One of the homes to hit the MLS in the past 24 hours is this 1,422 square-foot, three-bedroom / 1.5-bath single-family home at 1631 N Springfield Ave in Humboldt Park. This home sold in 2006 for $250,000; as a bank-owned property, it’s listed at just $31,350, or $22 a square foot. It’s at Fannie Mae HomePath property, meaning buyers can get fixed-rate, adjustable-rate, or interest-only mortgages with low down payments, no mortgage insurance, and no appraisal fees, as well as financing for light renovation.

According to the listing from Rakesh Parikh of Keller Williams Lincoln Park, the home has an unfinished basement, gas heating but no A / C, a detached, two-car garage, and annual taxes of $2,128.

The home is a half-block north of North Avenue and four short blocks east of Pulaski Avenue, giving owners easy access to two CTA bus routes. Rail transit is not as accessible — the Metra’s Milwaukee District North and West lines run through the neighborhood but don’t stop any closer than the Healy station on Fullerton to the north and the Grand / Cicero station to the west, and the closest Blue Line stations are a good 2.5 miles away. The home stands inside the Stowe School and North-Grand High School boundaries, and has a “very walkable” WalkScore of 80 (due mostly to its proximity to North Avenue). Get more information on the goings-on within a three-block radius at EveryBlock.com.

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