Home in Wealthiest Block to be Auctioned from $175K

Those itching to live where some of the wealthiest people on the North Side call home might be in luck, because a home in Roscoe Village is on the auction block for a fraction of the cost.

A three bedroom, three-and-a-half bathroom home in the complex at 1806 W. Diversey Pkwy is being auctioned online starting at $175,000, Zillow reports. The home was initially put on the site March 7 saying it would be auctioned from just $1, but realtors changed the starting price over the weekend.

And according to the website , the home resides in not only the richest blocks in North Center, but the entire North Side. The website combines Google Maps with the most recent Census data to show income and rent prices in every neighborhood in America.

• READ: Where do North Center's Wealthiest Live?

According to the U.S. Census’ American Community Survey from 2007-2011, the richest people in town live south of Belmont Avenue to Diversey Parkway, and west of Ravenswood Avenue to Damen Avenue. The median household income there is about $135,000, even more than some of the richest blocks in Lincoln Park.

The breakdown by Rich Blocks, Poor Blocks is done by Census Tract. The average household income for all tracts in North Center is about $89,000 earned annually, still well above the state’s middle-class range.

But if the online auction is uneventful, someone could snag the property with rich neighbors for a pretty penny.

The bank-owned home was foreclosed on Feb. 5, Zillow reports, and bidding will go live on Auction.com on March 18. The almost 2,000-square-foot space was last sold in 2005 for $412,000, but Zillow estimates the house is worth more than $640,000 today.

The auction will last four days.

Described as “a great investor opportunity,” the home is already being rented out to a tenant. And, being less than a half-mile from Jahn Elementary School, the home sits at a premium location. 

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