Trying to Sell a 3-Bedroom 3 Years Later in Ravenswood Manor: 3001 W. Wilson
This 3-bedroom at the Vines of Ravenswood at 3001 W. Wilson in the Ravenswood Manor neighborhood of Albany Park came on the market in August 2011.
That is just over 3 years since it last sold in July of 2008.
The unit has a vintage layout with a full-size dining room as well as a sunroom.
The eat-in kitchen has stainless steel appliances.
While there is a washer/dryer in the unit, there is no central air and no parking.
However, the unit is less than 2 blocks from the Francisco brown line stop.
It has been reduced $10,000 since August 2011 and is now listed for $100 under the 2008 purchase price.
What price will it take to re-sell this unit 3 years later?
Karen Holt at @Properties has the listing. See the pictures here.
Unit #2: 3 bedrooms, 1 bath, no square footage listed
- Sold in March 1995 for $141,000
- Sold in September 1998 for $155,000
- Sold in April 2006 for $255,000
- Sold in July 2008 for $230,000
- Originally listed in August 2011 for $239,900
- Reduced
- Currently listed for $229,900
- Assessments of $479 a month (includes heat and exercise room)
- Taxes of $3294
- Washer/Dryer in the unit
- No central air- window units only
- No parking
- Bedroom #1: 12×10
- Bedroom #2: 11×10
- Bedroom #3: 10×9
- Living room: 16×12
- Dining room: 17×12
- Kitchen: 13×11
- Sunroom: 8×10
Seems likely its going to drop ~10%, just like from 06 to 08.
Why did it go down in 2008? In summer 2008 things were not great but it was still months ahead of the real impact of this new economy!
Sorry, it’s not Ravenswood Manor. Sacramento is the west border of the Manor. It’s across the street from RM, but not ‘in’ RM.
This may seem like nitpicking, but west of Sarcamento is less SFHs and more apartment bulidings. It ‘feels’ and looks different. West of here to Kedzie is kinda depressing, IMO,
Nothing screams “zero storage space” quite like a gigantic open-wire shelving unit sitting in your kitchen
3 bedrooms and only one bathroom? Very unappealing.
jenny,
it’s 229k – would it make you feel better if they changed it to a 1/1?
The price went down in 2008 because the real estate insanity peaked in 2006 and all prices started to trend back to reality then. That’s when mortgages for anyone who could stand upright and sign his name ceased to be available.
This is a pretty disappointing place as vintage units go. No charm, no pretty millwork, and only one bath, and inconvenient location.
$190K
It’s officially in Albany Park.
“This may seem like nitpicking” On Crib Chatter? Never!
if you lived here, you’d probably get tired of telling your friends “i live across the street from Ravenswood manor” so you’d probably just leave out the “across the street part”.
$753 a month before the mortgage… ouch, now these assessments are a bit out of line IMO and the unit itself is a bit dissapointing, although livable (not ideal for sure with only 1 extremely small bathroom, but doable)
with 10% down @ 4.25% you’re looking at approx. a $1050 a month mortgage
not sure how many people would pay 1800 a month to live here, with 20k down although if you subtract principal of approx 300 a month, its not that bad I suppose
Clio, I just can’t imagine spending over $200,000 for a place that only has one bathroom. I would much rather have a 2/2 than a 3/1.
OT for Valasko:
what’s with the scaffolding? The chinese windows popping out already?
Taxes and assessments are about $750/mo. That’s after the mortgage payment.
Jenny, how much time do you spend in the bathroom? 😀
I think if it’s either or at this pricepoint, an extra bedroom wins out for me. Of course it depends on where you are in life. If you are single or a DINK, two people can make one bathroom work. if you have kids, an extra bathroom might be essential.
Icarus, I can’t stand sharing a bathroom with anyone. I need my own.
I think the one bathroom is what hurts this place. Being across the street from RM rather than in it is a detractor as is lack of parking but you won’t ever be able to fix the bathroom issue.
I couldn’t imagine two people getting ready for work at the same time in that bathroom, especially with an infant in the house too. That situation would make me move…or get divorced!
Real Estate hot shots will most likely start to call Albany Park, “West Ravenswood”. Just as they invented “West Bucktown’.
Yup. Totally agree.
TB “Sorry, it’s not Ravenswood Manor. Sacramento is the west border of the Manor. It’s across the street from RM, but not ‘in’ RM.
This may seem like nitpicking, but west of Sarcamento is less SFHs and more apartment bulidings. It ‘feels’ and looks different. West of here to Kedzie is kinda depressing, IMO,”