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This historic residential property, built in 1890, is located at 2941 North Racine Avenue in the vibrant city of Chicago. It is situated in the Kemnitz subdivision and is a part of the Chas (Kemnitz) Sub of NH of BLK 2 of Outlot 6 of Canal Trustees Sub of EH Sec 29-40-14. The property features a cozy 640 square foot living space and has 4 bedrooms, 1 bathroom, and a lot size of 2760 square feet. The total assessed value for the property is $73,852, with $25,552 attributed to improvements and $48,300 for the land. The building has an old-world charm with its commercial air conditioning system and lack of heating, making it a unique find in the area.
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In most states, the history of a loss of life in a home, no matter how it occurred, even violently, is not considered a "Material Fact" and it's not required to be disclosed. This history depending on the event, can decrease the home's value by 25% and increase its time to sell by up to 50% longer than comparable homes. Properties with such a history are referred to as Stigmatized Properties.Would you want to know stigmatized history of the property before you sign the contract?
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