Graceland West 2/1 Sells for $108,500 Under the 2007 Price: 4017 N. Southport
We chattered about this 2-bedroom at 4017 N. Southport in the Graceland West neighborhood of Lakeview several times.
See our July 2011 chatter here.
In July, it had been reduced further and was listed at $205,000 but some of you thought it would sell for around $180,000.
On the market for a year, it finally sold for $108,500 under the 2007 purchase price at $192,500.
Remember, this was NOT a foreclosure or a short sale.
The unit had the features buyers look for including central air, an in-unit washer/dryer and deeded parking.
It also had hardwood floors, french doors and a fireplace.
The kitchen had 42 inch cabinets, granite counter tops and black appliances.
If a 2/1 sold under $200,000 (with parking) what will this mean for all those 1/1s out there?
Stephanie Biderman at Koenig & Strey Real Living had the listing. You can still see the pictures here.
Unit #1: 2 bedrooms, 1 bath, no square footage listed
- Sold in April 2001 for $240,000
- Sold in October 2007 for $301,000
- Originally listed in September 2010 for $279,000
- Reduced numerous times
- Was listed in May 2011 for $229,000 (includes parking)
- Reduced
- Was listed in July 2011 for $205,000 (includes the parking)
- Sold in September 2011 for $192,500 (included the parking)
- Assessments of $256 a month
- Taxes of $3526
- Central Air
- In-unit washer/dryer
- Bedroom #1: 10×11
- Bedroom #2: 10×11
- Living room: 18×11
- Kitchen: 11×11
good to see prices finally coming somewhat back to reality
Wrong side of Irving, but not a bad deal on the price. Under $200K is significant.
I should add that all the rooms are tiny, even the living room (when you take in the fact that it’s a combo LR/DR).
The (exceedingly) similar unit on the second floor in 4021 just sold for $205. Same condo association.
#2 in 4017 sold in Jun-10 for … wait for it … $264!
Down 22.3% in 15 months, comparing the #2 units.
If I was the realtor I would be embarrassed by those terrible photos! If I was the seller I would be embarrassed by my realtor. Seriously it isn’t that hard to use a flash consistently and have the appropriate lens to get a non-chopped view of a room. I guess in the end they sold but it took a year and likely would have had better/ more traffic with nicer photos.
“If I was the realtor I would be embarrassed by those terrible photos! If I was the seller I would be embarrassed by my realtor. Seriously it isn’t that hard to use a flash consistently and have the appropriate lens to get a non-chopped view of a room”
You want REALLY bad photos?
Take a look:
http://www.redfin.com/IL/Chicago/405-N-Wabash-Ave-60611/unit-4401/home/12554149
Oh my gosh those Wabash photos are awesome!
Clio – Hysterical! Maybe he was drunk? If that is what you get with RE/MAX Platinum I would hate to see RE/MAX Silver!! Ha!
Oh man those pictures are hilarious. How could anyone think that is OK?
So when all is said and done the seller lost what, $125K? That seems awful for someone in that price bracket… although they must have a little money if they are able to take a hit like that. That’s too bad for them
Both bedrooms only being 10×11 is real tight, as is a 18×11 living room for a combo. It’s a fine price with parking i guess, but i just don’t like this area all that much and the unit is pretty tight, a 10×11 master is pretty crappy.