In 2013, the market was dominated by stories of renovated homes selling almost instantly. Builders also reported brisk sales on new products.
But even with low inventory, sales of fixers lagged. (And I’m not talking about foreclosures.)
This 2-bedroom vintage unit at 621 W. Addison in East Lakeview came on the market in August 2013.
Built in 1916, this top floor unit has many of its original features including crown molding, arches, floors and an arched ceiling in the dining room.
It is a co-op in a building with 27 units.
The listing says it has great bones but needs “some TLC.”
It doesn’t have central air (window units only) but you can have an owner owned washer/dryer in the basement of the building.
There is also a 1.5 car private garage available for $50,000 extra.
Originally listed at $249,900, it has been reduced $50,000 to $199,900.
If you throw in the parking, wouldn’t a spacious 2/2 for around $250,000 be a deal in this neighborhood?
Will properties that aren’t “new” continue to lag in sales in 2014 despite low inventories?
Courtney Welsch at Baird & Warner has the listing. See the pictures here.
Unit #3: 2 bedrooms, 2 baths, no square footage listed
- I couldn’t find a prior sales price as it’s a co-op
- Originally listed at $249,900 in August 2013 (parking $50,000 extra)
- Reduced twice
- Currently listed at $199,900 (parking $50,000 extra)
- Assessments of $788 a month (includes water, gas, taxes)
- Taxes appear to be $2934 (included in HOA)
- No central air (window units only)
- No in-unit washer/dryer (but owned w/d available in the basement)
- Bedroom #1: 15×13
- Bedroom #2: 13×12
- Dining room: 18×12
- Living room: 20×13
- Sunroom: 12×8