urban (2007-46)

The Revised Numbers

Urban Renewal

You can still find Parkridge prices in 4th and Gill

by Matt Edens

Call it a correction, of sorts. Seems I missed a sale or two in last weekâ’s commentary piece about Brownlowâ’s auction and its potential impact on pricing in 4th and Gill. No sooner had the issue hit the streets then a 4th and Gill friend e-mailed, pointing out that at least two houses in the immediate vicinity of Brownlowâ"one on Luttrell Street and another just across Broadway in Old North Knoxvilleâ"have recently sold for roughly $150 per square foot.

Somehow, those two sales slipped past me. Itâ’s an occupational hazard in a neighborhood where property often changes hands by word of mouth without ever hitting the official real-estate market. For the sale on Luttrell, a sign never even went in the yard. And the buyers, by the way, were already neighborhood residents, not some suckers from out of town who paid too much. Makes me think there are more sales north of $150 per square foot in 4th and Gillâ’s future.

Of course, those figures also mean that Brownlowâ’s numbers only nudged 4th and Gillâ’s price ceiling up 25 percent as opposed to 50 percent. Still, in the nationâ’s current real-estate climate of â“market correction,â” any increase is impressive enough. And just when I thought my old neighborhood was closing the gap, that $150 figure means that Parkridgeâ’s prices are following their long established pattern, running roughly two-thirds of 4th and Gillâ’sâ"good news for bargain hunters who donâ’t mind pioneering a bit.

That $150 per square foot figure also makes this home on Eleanor seem like a steal. Itâ’s hardly a fixer-upper, however. The current owners tackled the tough job of converting it back to single-family. Previously, its 3,000 square feet had been cut up into six apartments, but youâ’d never know it now, walking up the front steps and onto the broad porch with details like dentil molding and Ionic columns.

Inside, the house has hardwood floors and lots of stunningly refinished oak woodwork such as four fireplace mantels (two with beveled mirrors) and two sets of pocket doors. Thereâ’s also original crown molding in the living room and dining room. Other features include an unfinished full basement, a vintage garage out back (perfectly sized for your Pierce Arrow), and a nice corner lot that comes complete with mature trees, fencing, and a limestone retaining wall along the front walk. Not bad at all for only $94 a square footâ"practically Parkridge prices, Iâ’m pleased to report.

940 Eleanor St.

3,000 sq. ft.

4 bdrm/1.5 bath


For Sale by Owner: 247-6361


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