This Bank Owned 2-Bedroom River Village Townhouse Just Reduced Under $300K: 932 N. Crosby
This 2-bedroom townhouse in River Village at 932 N. Crosby in River North/Gold Coast??? (what neighborhood is this?) has been on and off the market since September 2010.
It is now bank owned but the bank can’t sell it.
Listed in mid-December for $324,000, the bank recently threw in the towel and cut the price all the way down to $299,900.
That is $63,600 under the 2005 purchase price.
It is in a gated community along the river and has a 2-car garage.
The townhouse is only 1250 square feet, because there is no basement.
Both bedrooms are upstairs.
From the pictures, the kitchen and bathrooms appear intact.
The kitchen has stainless steel appliances, cherry cabinets and granite counter tops.
Is this townhouse a better deal than a similar condo at the same price?
Cris Sallmen at Koenig & Strey Real Living has the listing. See the pictures here (sorry- I don’t have any exterior pictures of these townhouses).
932 N. Crosby: 2 bedrooms, 2.5 baths, 1250 square feet, 2 garage parking spaces
- Sold in August 2005 for $363,500
- Originally listed in September 2010 for $483,000
- Reduced numerous times
- The ccrd website is down so I can’t see when the bank took it back
- Bank owned
- Was listed in December 2011 for $324,000
- Reduced
- Currently listed for $299,900
- Assessments of $225 a month
- Taxes of $4508
- Central Air
- Bedroom #1: 14×12 (second floor)
- Bedroom #2: 14×10 (second floor)
This is not Gold Coast/River North. Honestly, not sure what this is but it is ghetto scary.
David – it is NOT worse than Western Avenue!!! HAHAHA
Way too far west for Gold Coast but it is River North.
“but the bank can’t sell it.” No such thing. They just don’t like the price they need to sell it at.
stupid question, why are the toilets taped up like that?
Still an over-priced cheaply constructed small two bedroom condo. Photos are depressing.
“stupid question, why are the toilets taped up like that?”
It’s bank owned. They usually turn off the water. So they tape the toilets so no one uses them.
“but the bank can’t sell it.” No such thing. They just don’t like the price they need to sell it at.
What I meant by the “bank can’t sell it” is that even a non-emotional seller, who doesn’t have to worry about bringing a check to closing and has no emotional attachment to the property, i.e. “I’m not going to give it away” etc., still isn’t pricing this property right.
So what chance does a “normal” seller have? Not a good one.
By the way- today’s posts won’t be super thrilling because the ccrd website was down last night so I couldn’t get at the data. So I mainly did updates on old properties. Sorry! But that’s the government for you. Occasionally the county websites go down.
David – This is River North. I would not say that this is “ghetto scary”. There is leftover Cabrini residue that is still lurking that can make it appear as ghetto….
Toilets are taped up because most likely the bank had it winterized.
This actually seems like a good deal to me. I would rather live in a townhouse than a condo for the same price.
This is another case though, where if the owners had put 20% down when they purchased this place, they would not have gone into foreclosure. It’s depressing that the banks/government are never going to stop this ridiculous idea that people with a just a thousand or two should be allowed to buy property.
I live near here. It’s River North and not ghetto scary. Its getting better by the day and will greatly improve when CHA shuts down the unrehabbed townhouses that make up former Cabrini this spring. After these are gone, there is only a few rehabbed townhouses that remain CHA. This is actually less CHA housing than exists in Old Town and LP. This is one block from the new BLT restaurant. One block from Groupon and Japoinais. The reason this won’t sell is that its the smallest townhouse of all of them and its smaller than most condos in the area and the floor plan is ridiculously narrow. I think the prior owners thought it should be worth more since its “townhouse” and not a condo. (Typically, midwestern mentality which proved wrong…sorry Jenny). But its actually smaller than most condos in the areas so it should sell for small condo prices, especially since you don’t get the benefits of condo living (doorman, workout room, etc…). Still a good deal for a first time home buyer who wants to be close to downtown and all the restaurants and shopping in Near North.
Are you kidding me with these photos? Terrible.
I like the park/playground at Kingsbury just South of Chicago. And there are a lot of multi-million $$ sfhs in the area. IIRC Antoine Walker lived in one when he was robbed years ago, is that right?
Some things are just not right about this unit. The elevated hot-water heater is precariously perched above a closet or something. How does one access this important piece of equipment without a ladder? What if it needs to be drained or the burners tested? That location is just impractical and stupid. Then there is the fireplace which is tucked into that corner.
Hope everything was designed with safety in mind. Looking at these photos, I don’t have the most confidence in the builder.
I agree with Jenny. I would rather have a TH than Condo.
Oh, the property has a hot water heater. How reissuring. I’m contacting my real estate agent immediately!
Reassuring. I hope the typo doesn’t detract from the sarcasm.
” IIRC Antoine Walker lived in one when he was robbed years ago, is that right?”
Yep. On poker night. Apparently, it’s a (minor, but nationwide) issue with cash games getting targeted. One of ‘toine’s friends must of told someone who told somone bad.
This is not River North. North of Chicago is not River North.
This place is horridly narrow! The room dimension make it sound 14′ wide (maybe 15′?) but the pictures make it look about 8′.
The awful placement of the water heater isn’t a rarity. Unfortunately, when my developer put in my water heater they then walled it off on three sides and put the furnace blocking the fourth side. When it needs to be replaced, part of a wall is going to have to come down. 🙁 Good reason to go tankless!
I’m not surprised this is under $300k. Too narrow, bad pictures and not a great time to be on the market.
“This is not River North. North of Chicago is not River North.”
Here be dragons?
“This is another case though, where if the owners had put 20% down when they purchased this place, they would not have gone into foreclosure.”
Actually, it looks like if they hadn’t been able to “unlock their equity” 9 months after they bought (borrowing to ~115% of purchase price), they probably would have been ok. Appears the developer gave them a loan for the second parking space.
re; the parking: Is there interior entry from the common, underground, garage into each unit?
Here’s one in the same association that sold in May-11. Similar, but not identical, room sizes and layout. Adds a roof deck, subtracts a parking space. Vastly better pix.
http://www.redfin.com/IL/Chicago/949-N-Howe-St-60610/home/12589619
picture # 7 is comical….it’s so bad.
It’s essentially the last ‘cusp’ of river north before it divides into river west and the ‘near north’ side.
it’s literally 1/2 a block from the chicago/larrabee ( which becomes kingsbury on this side ) intersection. for those less familiar with the locale, it’s kind of across the street from david barton gym. I work out around here and the area isn’t bad..mixed with some super nice condos and sfh’s and random ghetto peeps still lingering around what’s left of the row houses. i’d give it a few years and the ghetto crowd will be gone as the row homes get demolished. it’s a small place, but honestly, 299 for a 1200 sq foot two bedroom ‘townhouse’ isn’t bad, it’s a nice looking well kept community with good vicinity to downtown, 90/94, fulton market restaurants, etc. I’d probably buy it if they knock off another 25k or so.
Riz, if it’s been on the market that long and you like it, why not make a lowball offer? And by “lowball” I mean take a lot more than 25K off list.
“why not make a lowball offer?”
He’s worried about the realtor blacklist.
The surrounding area isn’t great (mostly vacant lots) but has very nice potential to improve. 600 sqft a floor is kinda bleh though and this particular unit looks really dark.
And LOL@ the realtor photo, hey the 90s called and they want their pictures back
haha, to correct my previous comment, i’d probably make an * offer * if they knock off another 25k. I don’t think this place is a bad deal at all for 240-250kish..assessments aren’t crazy, taxes are low, 2 parking spots..yeah its small but at this price point is about the same or cheaper than most nearby 2 bed/2bath condos, and has it’s own roof deck..i’m contemplating going and looking at it.
“i’d probably make an * offer * if they knock off another 25k. I don’t think this place is a bad deal at all for 240-250kish”
If you’re actually interested, why not just put the $235k (or whatever) offer out there? It is, in fact, REO, so you wouldn’t be in a short sale black hole for months–they’d either accept, counter, or say no. And if you don’t offer, you already know the answer.
Go for it, Riz.
Take a look.
Remember, you get what you negotiate in life whether it be real estate or other things.
If you need a good buyer’s agent, contact Lindsey Richardson who is now with Rising Realty:
lindseyr@risingrealty.com
She’s a short sale and foreclosure expert on both sides of the deal and found my places for me.
“…they’d either accept, counter, or say no. And if you don’t offer, you already know the answer.”
Good point, anon.
And if they counter, you can counter again too.
I’ve had deals counter back and forth a few times.
Everything you save, even 1K is money in your pocket, so why not?
“yeah its small but at this price point is about the same or cheaper than most nearby 2 bed/2bath condos, and has it’s own roof deck..i’m contemplating going and looking at it.”
boy – we’ve come a long way from last year when you were going to make the big bucks and live like a baller!!! Welcome to reality, Riz, welcome…….
“boy – we’ve come a long way from last year when you were going to make the big bucks and live like a baller!!! Welcome to reality, Riz, welcome…….”
Live like a baller? what are you, justin bieber, who talks like that? You don’t always need to be a condescending jerk, you’re not the only one with money in this city.
I’m looking to buy in cash. I was always looking at places that were in the 300-400k ballpark. I contemplated buying a much more expensive place a few times, but never very seriously. While it is feasible to waste all or most of my trust fund on real estate, it’s not something i want to or need to do – While i’m single, I don’t really need to buy a place that’s half a mil or more. As far as making the big bucks, My salary offers are better than they’ve ever been previously, so looks like the sky hasn’t fallen on anesthesiology just yet. In fact, I got a very pretty offer from your alma mater Univ of Chicago for an attending position. ( wasn’t expected as academics usually pays awfully. ) Not sure about radiology/geriatric medicine / surgery/ whatever type of physician you claim to be, but my salary expectations were pretty accurate, so i’ll probably still live fairly well.
P.S. – have you seen the white aventador being prepped at lambo chicago? its ours and just came in. I asked them if they knew any geriatrics docs with rosso vik’s and they have never heard of you. Regardless, gallardo’s aren’t really my style. If you want to track some day let me know.
“In fact, I got a very pretty offer from your alma mater Univ of Chicago for an attending position. ( wasn’t expected as academics usually pays awfully. )”
I know EXACTLY what U. of C. pays it’s attendings and there is no way you will be making more than 200-250k (which is still a lot of money).
In terms of the gallardo, I bought my car at Gold Coast Bentley and I am happy (but surprised) that they don’t divulge info on their customers (oh, and btw, I am not a geriatrician).
Well, you would be exactly wrong. U of C offered me 275 with productivity bonus after year 1 ( which is aphenomenal in academics ). Northwestern offered 250 though, UIC even less. Regardless, I’m not taking either offer as private practice still pays a significant amount ( ~100k+ ) more in the suburbs…I’ll likely be at Rush Copley in Aurora.
As far as your car goes, bentley gold coast and lambo chicago are the same dealership, I know the owners very well.. and they sell VERY FEW rosso viks- and like i said, have never heard of selling one to anyone outside of 2 athletes and a 50 year old divorced lady. Anyways, none of my beeswax.
also, you stated you were a geriatrician many times before which is why i thought of it. I specifically remember telling you there is no way you make any money in that field and you argued your money was from real estate and not your geriatrics patients…again, none of my business anyways.
http://cribchatter.com/?p=11244
It could have been a fake clio in that thread though.
“I’ll likely be at Rush Copley in Aurora.:”
I have a great place in St. Charles – you will love it!!!
“As far as your car goes, bentley gold coast and lambo chicago are the same dealership, I know the owners very well.. and they sell VERY FEW rosso viks- and like i said, have never heard of selling one to anyone outside of 2 athletes and a 50 year old divorced lady. Anyways, none of my beeswax.”
Ask again – the owners are new (joe perrilo) – I dealt with the previous owner (who is still there – Joe Abbas). anyway, no big deal – but I’m not lying……just ask if a very good looking, very young looking doctor bought the lambo there (oh – and they may tell you the funny story on how I bought it – on the morning of the day I bought it I had NO desire or IDEA of what a lamborghini was – I wasn’t in the market for a car at all. I drove my friend in my bentley downtown and we had lunch at RL . My car broke down so I walked to the Bentley dealership and the owner wanted to give me this new lambo rosso vik spyder as a LOANER car. Of course, being the pussy that I am, I initially refused because I was scared to drive it. They insulted my manhood enough to get me to drive it home. After 30 minutes, I was hooked. I traded my bentley and bought it on the spot – full asking price. That is the honest truth!!!)
“you stated you were a geriatrician many times before which is why i thought of it. I specifically remember telling you there is no way you make any money in that field and you argued your money was from real estate and not your geriatrics patients”
Who cares really. This is Internet. For all you know, this cleo/clio/CLIO thing can be a college dropout living in his mom’s basement.. who created this online persona to troll CribChatter and rile people up.
In my experience, anyone who flaunts their wealth and status in the Internet forums is a first rate loser.. Who in most likelihood has neither wealth no status to begin with. Move on.
joe abbas and joe perillo are in business together. I’ve known the perillos ( junior and senior ) as well as joe abbas for many years. ( Did you know Joe perillo was actually in med school in the carribbean? he wanted to do ortho or something ). Regardless, perillo basically bought luxury motors and bentley downers grove, and pretty much owns the whole thing with abbas as a silent partner. Their dealerships are doing surprisingly well for the current economy.
I love it how underwater owners in/near river north create these completely fake personas who earn all this coin and drive fancy 250k sportscars but then talk about places like this as if they are a steal. Truth is riz & clio don’t exist in the real world. I cxan say this with confidence as nobody in rizs income range would sweat over 25k on a property such as this and actually want to live in this property anyway. Clio & riz are shills & anyone who thinks theyre real people is an utter fool.
“It could have been a fake clio in that thread though.”
Is there a real one?
“I have a great place in St. Charles – you will love it!!!”
So the buyers defaulted already? You pursuing your recourse against them?
riz: “have you seen the white aventador being prepped at lambo chicago? its ours and just came in.”
CLIO: “just ask if a very good looking, very young looking doctor bought the lambo there”
What we have here is a pathetic display of exhibitionism. Think Borat in his mankini.
“I’ll likely be at Rush Copley in Aurora.”
Ha ha!!! There’s some good restaurants on Butterfield Rd.
“just ask if a very good looking, very young looking doctor bought the lambo there”
It’s faster to just ask: Was a Paki in here?
CLIO: “just ask if a very good looking, very young looking doctor bought the lambo there”
Oh, hold on a second….Clio said that? I thought he was a balding mid-life crisis dude? LOL!
“Truth is riz & clio don’t exist in the real world. I cxan say this with confidence as nobody in rizs income range would sweat over 25k on a property such as this and actually want to live in this property anyway. Clio & riz are shills & anyone who thinks theyre real people is an utter fool.”
I’ve stated multiple times that i’m a resident physician. I make 55k a year. My income range is far from ‘baller’ status. I have a trust fund, but i can’t blow that all on real estate, so yes, i think about my investments. I go out a lot, I take vacations, I rent a nice condo..So i think twice when it comes to spending 300k on a place. I’ve always been very transparent about my financial status..I’m not rolling in millions of bucks, but i’m very stable for someone in their late 20’s. As far as exhibitionism and lambo’s go, the aventador was much more than 250k, it’s not my car, it’s my old man’s, i mentioned it to clio as he is a lamborgini aficionado ( supposedly ). And yes, if i was dropping 400-500k on a car, i probably wouldn’t be looking at river north 2 bedrooms, but i’m not anywhere near that level of income yet, and you’re stupid for thinking that people the have money don’t think twice about 25k..People that are truly wealthy don’t get that way by ‘not worrying’ about 25k here and there..they think about every dime before investing or purchasing.
“It’s faster to just ask: Was a Paki in here?”
Dan, do you ever get tired of creating new usernames? you’re such a loser. you must really have no life outside of crib chatter to continuously return here. also, luxury motors and bentley/lambo downers grove are overrun with pakistanis / middle eastern folk so that question wouldn’t really garner much of a response. Idiot.
Now i remembered why i stopped posting here. It’s full of negative energy and posters that have nothing better to do than consistently hate on others opinions and accomplishments. At the end of the day, Bob, Dan, and Clio are probable the same dude sitting in their mom’s basement. I hope i never have any of you hacks as a patient. F*ck you and goodbye.
helmethofer/Dan, Dan, Dan, Dan, Dan:
You chose a German handle,
so I hate to break it to you,
but the truth is you ain’t got what the German girls want.
Go to any resort in the Caribbean and see them lining up to drop their panties for some Rasta dick.
It’s essentially the last ‘cusp’ of river north before it divides into river west and the ‘near north’ side.
it’s literally 1/2 a block from the chicago/larrabee ( which becomes kingsbury on this side ) intersection. for those less familiar with the locale, it’s kind of across the street from david barton gym.
This isn’t right. It’s 1.5 blocks north of Chicago Ave. and on Crosby, which juts northwest and is not “across” from the David Barton gym at all. It is near the river and close to the huge power station (Com Ed) just north of it.
“Well, you would be exactly wrong. U of C offered me 275 with productivity bonus after year 1 ( which is aphenomenal in academics ). Northwestern offered 250 though, UIC even less. Regardless, I’m not taking either offer as private practice still pays a significant amount ( ~100k+ ) more in the suburbs…I’ll likely be at Rush Copley in Aurora.”
Congrats Riz. It’s a lot of hard work to get to the point you’ve gotten in your career. There’s lots of housing deals in Naperville right now if you’re interested in buying out there (in the downtown area- near the restaurants etc.) Sounds like it’s all going to work out for you.
“Now i remembered why i stopped posting here. It’s full of negative energy and posters that have nothing better to do than consistently hate on others opinions and accomplishments. I hope i never have any of you hacks as a patient. F*ck you and goodbye.”
It’s a great day for humanity, or any person, or any of us….when you cease to open your mouth. Goodbye and good riddance.
Thanks for the kind words Sabrina. I will likely rent a place in the burbs but keep a primary place in the city, i’m not quite ready to live in the suburbs full time, though downtown naperville is very nice. Things looks good now , but we never know what the future holds so i’ll probably stay conservative with real estate investments. ( That’s probably the strongest thing i’ve picked up from this blog )
Dan/Marco/Marcus/helmethofer,
Pretty funny words coming from a racist that is universally despised and made fun of on this website. It’s funny i’ve got less time on my hands these days or I would continue to rip you apart and make you look like an idiot like I did in the good old days. What’s changed since then? I’m still successful, you’re still a loser on his 10th fake screen name that continues to post on a website where pretty much everyone ( maybe except Bob? ) hates his guts. Also, your grammar blows, you hang out in lombard, and you’ve probably never been laid. Please, continue to hate me, and any other minority/non-minority that is exponentially more successful for you, because as we move forward, there are less of people who think like you and more like me. If you ever end up at Northwestern, and have the guts, please stop by the anesthesia department and say hi, chump. Please, don’t bother replying as you will just look like a moronic child , your IQ just isn’t worth sparring with; clio is a much more formidable opponent in that arena.
Oh, and as for your new taste in german screen names, here are some parting words:
Fick Dich, schwanzlutscher, sterben einen qualvollen Tod.
“clio is a much more formidable opponent in that arena”
please don’t consider me “an opponent” – I’m really not…..
Oh – and seriously seriously re-consider taking a job in Aurora – don’t just look at the money – you NEED to look at the location. Although you may think you will make it to the city every weekend, etc., the truth is that it becomes harder and harder every weekend and, before you know it, you will be sitting at Chilis on Randall Road for your Saturday night “on the town”. I guess that is fine if you are OK with it, but I have a feeling you will be miserable. I am single, live in Oak Brook (much closer to the city) and it still gets harder and harder for me to get to the city!!!
“It’s a great day for humanity, or any person, or any of us….when you cease to open your mouth. Goodbye and good riddance.”
Really Dan? You are the only person who has been banned from this site. You’re one to say anything.
Clio, just making a point that sparring with you about stuff is more engaging as you usually make a point worth arguing. I fully understand your point about free time and being stuck in aurora, but as you know in the city it’s not only less money, but much much more work , I’ve got time so I’m still weighing everything out, and hoping for an offer from some of the closer suburbs.
Living in the city is much more fun, no arguing that. Chilis el presidente margarita is pretty incredible though, I might just stop by there for dinner.
Sabrina, it’s amazing to me that someone blocked so many times even wants to come back and continue to post racially charged content. Bizarre.
“Sabrina, it’s amazing to me that someone blocked so many times even wants to come back and continue to post racially charged content. Bizarre.”
I agree Riz. I don’t get it. So much anger. Life is too short to hate that much. I used to think that by posting/reading here Dan might actually expand his mind, but I was wrong.
summary, the racist comments are, some are over-the-top bad?
“There is leftover Cabrini residue that is still lurking that can make it appear as ghetto….”
“Fick Dich, schwanzlutscher, sterben einen qualvollen Tod.”
“lining up to drop their panties for some Rasta dick.”
“This is not Gold Coast/River North. Honestly, not sure what this is but it is ghetto scary.”
“Was a Paki in here?”
“Fick Dich, schwanzlutscher, sterben einen qualvollen Tod” isn’t racist, is it?
I’ve seen the unit. The area is actually pretty nice. There’s one corner on Oak and Larrabee where the few remaining rowhouse bums hangout. But they’re harmless. Mostly older guys.
This unit can’t sell because it’s kind of a crappy unit. The deck on top is almost totally enclosed with two walls. The unit is narrower than most, kind of dark. Needs some work to get it up to most people’s standards.
Add it up and people aren’t touching it. Most units in that complex sell fast. There’s been very few listings for sale – and most have sold relatively quickly.
Price cut to 289k on 4/17.