10 Years After the Great Recession: A 3-Bedroom at 840 W. Belle Plaine in Buena Park
This 3-bedroom garden unit at 840 W. Belle Plaine in the Buena Park neighborhood of Uptown recently came on the market.
Long time readers might remember this building because we chattered about it in 2009, at the height of the Great Recession, because it was a recent condo conversion which they were attempting to sell in the worst financial conditions in 75 years.
But the surprise was that the 11 unit building sold out within 90 days.
They were all 3 bedroom, 2 bath units with high ceilings, crown molding and wainscoting plus new kitchens and baths.
They ranged in price from $289,000 to $399,000 plus $20,000 for garage parking.
See our 2009 chatter here which is interesting because in February 2009 it seems like the great times were going to go on forever in housing despite the economy. Some of the buyers chimed in about how much they got for their money and the upgrades.
This garden unit has 9 foot ceilings but the same wainscoting, chair rail and crown molding as all of the other units.
The kitchen has dark wood cabinets (cherry?), 2 inch granite counter tops and stainless steel appliances.
It’s wired for sound.
The unit has the features buyers look for including central air, washer/dryer in the unit and garage parking is included.
In 2009, buyers had no idea of the slow decline in prices that would soon come to the entire Chicago housing market.
The price history of this unit reflects what went on over the last 10 years.
But the price of this unit also finally surpassed the original condo conversion price a couple of years ago.
Can prices continue to rise in this neighborhood?
Keith Tarasiewicz has the listing. See the pictures here.
Unit #GE: 3 bedrooms, 2 baths, no square footage listed, garden unit
- Sold in February 2009 for $289,000
- Sold in February 2014 for $260,000
- Sold in July 2017 for $321,000
- Currently listed at $324,900 (includes garage parking)
- Assessments of $192 a month (includes exterior maintenance, lawn care, scavenger, snow removal)
- Taxes of $6770
- Central Air
- Washer/dryer in the unit
- Bedroom #1: 12×15
- Bedroom #2: 13×10
- Bedroom #3: 13×11
Negatives
1999 finishes
Garden Apartment
Tons of wasted space – The corridor accessing the back door is chewing up a bunch of SF
Living area is tiny for a 3Br (DR table is pushed against the wall)
Pros
I guess if you’re a Cubs fan, you and your roommates can impress a couple of Chads and walk Vs Uber to your garden level apt after a night of fun at Sluggers…
Ah, the warning signs of a peak market – those who got stuck in garden units are now coming out of the woodwork to unload them.
“1999 finishes”
Were these finishes still popular in 2009? I’m asking in all seriousness. Because this was converted in 2009 and with these finishes, all 11 units sold out in 90 days.
From my recollection, 1999 finishes would have had black appliances, at a minimum. And the bathrooms would have been very different as well. Most likely white vanities and no granite counter tops.
I don’t think most people remember how awful the 1999 finishes really were.
Darn – looked for comments from myself on that 2009 thread and didn’t find any. I think I started coming to this site later that year.
Those aren’t 1999 finishes. Get real.
1999 finishes would have been laminate countertops in kitchen / baths…. maybe with some type of wood inlay. Generous use of glass blocks. Black or white appliances.
This is solid early 2000s Menards…
This board cracks me up – we’re all sitting here, trying to ascertain the exact date of those finishes, like we’re a bunch of archaeologists. Time to break out the carbon dating machine!
“From my recollection, 1999 finishes would have had black appliances”
1999 was maple or beech, light tones, black appliances, uba tuba and track lighting
2004 was cherry, dark floors, stainless steel and pendants
2009 was espresso, brown floors or bamboo, stainless and linear lighting
2014 white and grey, grey brown floors, matte appliances and big look at me lighting and rose gold
2019 grey and blue, light grey floors, paneled or matte appliances, sputnick lighting and brass everywhere
“This board cracks me up – we’re all sitting here, trying to ascertain the exact date of those finishes, like we’re a bunch of archaeologists.”
These things are important. Lol.