The Curious Case of the Cox House

Orland Park's first and oldest home, the Cox House hasn't found a permanent resident in almost two decades. Will it ever?

Built in 1880 at 14420 2nd Ave in Orland Park, Illinois, the 140-year-old home has been listed for sale six times since 2015 according to Zillow. A rental property for the last 12 years, the Cox house has seen many tenants but none have stayed.

Why can't the Cox House find a permanent resident? The history? The price? Government restrictions?

History*
A decade after the Great Chicago Fire and a decade before the World's Columbian Exposition, the Cox House was built and became the first home in the downtown area of Orland. It was built by Harry Zahn, who also built the Humphrey house a year later.

George Cox later bought and lived in the home with his family. George’s son, Harry, then resided in the house with his wife and six children. Harry was a trustee and mayor of Orland Park from 1901-1923. After the Cox family moved out, the house slowly fell into disrepair over the next century.

At the turn of the millennium, the Cox House had a hole in the roof, rotting siding and a significantly impaired foundation according to former Orland Park trustee Ed Schussler. He expected the house to be torn down.

The historic home was bought and renovated by a local builder as a public relations project. The extensive renovation process lasted over three years.

Over that time, Orland Park kept detailed records of the work being done.

Even the renovation bidding process was public record. The exterior renovation of the house had two bids of $82,112 and $113,350. The lower bid was chosen for the project.

During the excavation phase, it was determined that the entire structural system had failed and the foundation needed to be structurally reinforced. Much of the exterior material had deteriorated beyond repair and needed replacement. The historic barn behind the house was not salvageable and demolished.

After three years of construction and meetings with the village, the house was completely gutted and rebuilt from the foundation to the roof with a sizable addition and garage in the rear. The exterior was made to look like a 1880s farmhouse and the interior was complete with 21st century amenities.

In 2009, the Cox House became a commercial rental property and had its first occupants in years. Since the renovation, Blockshopper.com says the 140-year-old home has had three owners and it has stayed a rental property for the past 12 years.

The Price
The Cox House could be overvalued or undervalued at its current price of $460,000.

According to the house’s price history on Zillow, in 2015, the house was listed for $439,000, then the price was reduced to $429,000 and eventually the listing was removed.

Even though it couldn’t sell at $429,000, the house was sold in Nov. 2016 for $475,000 while it was off market. According to Blockshopper.com, it was sold 14 months later for an undisclosed amount while off market in Feb. 2018.

Five months after the sale, the Cox House was up for sale again in June 2018 but for $525,000. Although only two years earlier, the house didn’t sell when it was on the market for nearly $100,000 less. By the end of 2019, the listing was removed after many price reductions that ended at $419,000.

The house came back on the market for $475,000 in June 2020 during the greatest seller’s market in generations. After nine months on the hot market, the house had its latest price reduction in March 2021 to $460,000.

Zillow estimates the value of the house at $324,000, while RealtyTrac values the house at $331,000. There is a $130,000 difference in the sale price and the estimated value of the house. But the tax assessed value on Zillow says it's $490,000.

The wide range of evaluations says this property is worth between $324,000 and $490,000. The medium value is $401,000.

Property taxes also play a role in the price, especially in Illinois who has the second highest property tax rate in the country. The Cox House's neighborhood has some of the highest property taxes in the area. The annual property tax bill is over $13,000, which is very high for the home's size and acreage.

The uncertain value of the house and high property taxes could negatively impact the historic home's curb appeal.

Government Restrictions
Since the Cox House is a historical landmark, there are plenty of restrictions on the property. It is the equivalent of a strict homeowners association without any of the benefits.

Consumer publication, Wisebread says a historic home can mean higher renovation costs and limits you in terms of the renovations you're allowed to do. Orland Park has strict limitations on the Cox House.

According to historic preservation guidelines for Old Orland, routine maintenance on the building needs to go through a review and approval process. It includes repair or replacement of exterior elements where there is no change in the design, materials, or appearance of the structure or property such as gutters and downspouts, driveways etc. Landscape changes for gardens, planting beds, new trees, outdoor lighting for single family homes etc. will be considered as routine maintenance.

Minor changes have to go through the Board of Trustees and the Plan Commission. Any major changes need review and approval from a public hearing, Board of Trustees and Plan Commission.

Government restrictions make any improvement on the Cox House very time consuming.

According to data from the U.S. Census Bureau's 2018 Survey of Construction, the average amount of time to build a house is 7.7 months. The renovation of the Cox House took three years, four times as long as the average new construction house.

The strict rules and time consuming review & approval process might scare a potential buyer away.

Conclusion
Active historical landmarks are tricky situations. Orland Park allowing for businesses to handle the renovations and ownership might not have been the best situation for the historic home. Also the town shouldn't have such strict restrictions that an owner has to receive approval on landscaping.

To protect local historical landmarks: donate or volunteer at the Orland Park Historical Society.

* the information from the history portion was provided by the Village of Orland Park