225 w huron

Remember When People Were Flipping Condo Units? 225 W. Huron In River North

Nov 16 • Foreclosures, River North • 281 Views • 11 Comments

This 1-bedroom loft at 225 W. Huron in River North is bank owned.

These lofts were converted from apartments into condos in 2006 during the boom.

Remember all the flipping that was happening during the boom?

That seems like a looooong time ago now.

This 750 square foot loft sold in March 2006 for $206,500 and then was flipped in September 2006 for $235,000.

The bank took it back in September 2012.

It has timber ceilings and exposed brick.

It appears the unit still has the original apartment kitchen and bathroom.

The kitchen has white cabinets and counter tops along with white appliances. The bathroom is also completely white.

There is central air but there is no in-unit washer/dryer and no parking.

The loft has been on the market a little over a month and has been reduced.

But it is still listed $3,000 above the first 2006 sale.

Is this even much of a deal?

Charles Nicholson at Redline Realty has the listing. See the pictures here.

Unit #202: 1 bedroom, 1 bath, 750 square feet

  • Sold in March 2006 for $206,500
  • Sold in September 2006 for $235,000
  • Lis pendens foreclosure filed in June 2010
  • Fannie Mae property in September 2012
  • Originally listed in October 2012 for $228,900
  • Reduced
  • Currently listed at $209,500
  • Assessments of $260 a month (includes cable and Internet)
  • Taxes of $2705
  • Central Air
  • No in-unit washer/dryer
  • No parking
  • FHA Approved
  • 3% down
  • Bedroom: 12×10

 

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11 Responses to Remember When People Were Flipping Condo Units? 225 W. Huron In River North

  1. Elliot says:

    I’ve seen nicer looking prisons. $150k

  2. Sonies says:

    I’ve been in this building before for a party, the unit I saw was way upgraded compared to this, and it was still pretty small. Not sure if it was a 1 or 2br… The rooftop deck here is really nice though! awesome views

  3. Southbound says:

    Iirc this building auctioned off remaining units just when the bubble began bursting. I researched pricing before the auction and saw several suspicious transactions which I believe might have been done to pump up auction results. Imo the units I toured were too small to be anything other than cheap rental units.

  4. LB says:

    $150 is just about right, previous foreclosures in the building have gone into the $130′s. Most agents can get away with stealing a VHT photo of amenities here and there, but this agent can not.

  5. SDA says:

    so the view out the windows is of an interior hallway? or what is that?

  6. Dahlia says:

    I lived in this building in 2000. It is up against the brown line which roars by every few minutes, and units are very dark with little to no sunlight ever. Still – Super awesome location!

  7. dd says:

    This is a noisy location. The units I saw years ago seemed cheaply done. You could not pay me to live here.

  8. dude says:

    [SDA] “so the view out the windows is of an interior hallway? or what is that?”

    I believe that the ‘view’ looks directly into the parking podium of the high rise directly to the South. Inspiring.

  9. Dan #2 says:

    Can I buy the deck and not the unit?

  10. Buster says:

    When my brother bought a bank owned condo, I had to thank the people that take the photos. He bought a beautiful condo, but the photos made it look so ugly, I’m sure it had to decrease interest by other potential buyers. Although this unit does look like a bit of a dog, even without the bad shots.

  11. Fred says:

    Is wrapping Christmas lights around sprinkler pipes even legal?

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