Where’s the Money in Real Estate? Reselling Foreclosures: 5235 N. Ravenswood in Andersonville

This 1-bedroom loft in the Map Factory Lofts at 5235 N. Ravenswood in Andersonville came on the market in August 2013.

It’s a duplex down with timber ceilings and exposed brick.

The living and dining room are on the main floor with a spiral staircase connecting to the bedroom and a 13×10 den, along with the bathroom, on the lower level.

The kitchen has white cabinets and white appliances.

It has central air and an outdoor parking space but there’s no in-unit laundry.

A lis pendens foreclosure was filed on this unit in 2010 and then it sold for $82,500 in a judicial sale in July 2013.

It came back on the market almost immediately, in August, for nearly triple the purchase price, at $219,888.

How much money will this investor make on this loft?

Ngocmai Huynh at VNT Realty has the listing. See the pictures here.

Unit #5: 1 bedroom, 1 bath, duplex down, no square footage listed
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  • Sold in May 1995 for $100,000
  • Sold in May 1997 for $119,000
  • Sold in September 1998 for $140,000
  • Sold in June 2004 for $241,500
  • Lis pendens foreclosure filed in May 2010
  • Judicial sale in July 2013 for $82,500
  • Originally listed in August 2013 for $219,888
  • Still listed at $219,888
  • Assessments of $243 a month
  • Taxes of $3528
  • Central Air
  • No washer/dryer in the unit
  • 1 parking space included
  • Bedroom #1: 15×16 (lower level)
  • Den: 13×10 (lower leve)

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5 Responses to “Where’s the Money in Real Estate? Reselling Foreclosures: 5235 N. Ravenswood in Andersonville”

  1. This unit is already contingent.
    I like the location but I don’t like duplex-downs.
    Although it was a deal at 82.5K, it’s not a place I’d see myself living for a long time.
    The parking space is a huge plus.
    The taxes and assessments alone work out to $537/month which is meh.

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  2. wow. not sure they did anything to the unit except maybe re-finish the floors. everything else needs updating.

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  3. you couldn’t pay me to live in this place.

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  4. “you couldn’t pay me to live in this place”

    Really? Why? The ‘lower’ level is still 100% above grade. It’s kinda ugly, and the rooms are too chopped up, but were I solo, I’d totally live here for free, and *definitely* if someone paid me to live here.

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  5. I would’ve thought that it would need an in-unit laundry and/or half-bath upstairs before commanding that kind of price.

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