Diminished Expectations: Rehabber Ron Kozil laments lost profits at Mozart Manor

PETERSON WOODS
From $249,000
to $259,000

In 2007, when Ron Kozil—a long-time rehabber of multi-unit housing on the North Side and in Oak Park—bought the 13-unit building at 5724–5726 North Mozart Street, he planned to upgrade everything and sell the condos for between $300,000 and $320,000.

The market has changed since then, as have Kozil’s expectations. At the end of the summer, he cut condo prices in the building, now known as Mozart Manor. But did he cut back on his ambitious fix-up plans? “The only thing I’m cutting back on is making any money,” Kozil says.

Kozil’s meticulous handiwork is evident in the building’s new balconies, the new casework on all of the interior doors and windows, the big ventless fireplaces, the cleaned and repaired brick exterior, and the extensive landscaping in the front courtyard and the extra-large side yard. The six available condos (more are being rehabbed) have about 1,300 square feet of space arranged in different two-bedroom configurations. Five units with a view of the courtyard are priced at $259,000; the sixth unit, which does not have a courtyard view, is priced at $249,000. Parking spaces in the garage cost an additional $18,500. Christina Breuer of Fresh Horizon Realty represents the condos.

 

Photograph: Courtesy Of Christina Breuer/Fresh Horizon Realty

CORRECTION
In the December 2009 issue of Chicago, the pictures on the Deal Estate condo page were flipped. The photos accompanying the article about Mozart Manor in Peterson Woods (“Diminished Expectations”) actually depict the Library Plaza Townhomes in Winnetka; the pictures accompanying the article about Library Plaza Townhomes in Winnetka (“Off the Shelf”) actually depict the Mozart Manor in Peterson Woods. To see the page as it should have appeared, click here. Chicago regrets the error.

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