Prices Dropping at Park Place in River North
Sometimes you can see the reality of the current Chicago housing market just by pulling the listings of one building.
Park Place at 600 N. Kingsbury was completed in 2002. It wasn’t a “luxury” building but was your standard River North high rise with 42 inch kitchen cabinets and granite.
Some of the sellers are struggling to sell and some are selling for less than their purchase price.
Unit #1410: 2 bedroom, 2 bath, 1200 square feet
- Sold in September 2006 for $415,000
- Currently listed for $380,000 plus $30,000 for parking
- Assessment of $552 a month
- Chris Sears at Coldwell Banker has the listing
A listing for one of the smaller two bedrooms says to “Bring All Offers!”
Unit #1712: 2 bedroom, 2 bath, 1025 square feet
- Sold in May 2004 for $354,500
- Currently listed for $379,000 including the parking
- Assessment of $486 a month
- Prudential Preferred has the listing
These look nice and reasonable to me. I love the location. I heard there is a Special Assessment going on in that building. Does anyone know what it is for? It is a newer building so specials are never expected.