Short Sales in the Mural Building: 1211 N. LaSalle
1211 N. LaSalle, or famously known as “The Mural Building”, in the Gold Coast was converted from apartments to condominiums in 2006. The building was built in 1924 and has four units per floor.
There is parking available to purchase but there are no washer/dryers in the units.
These two units are in short sale:
Unit #1703: 2 bedroom, 2 baths, 1150 square feet
- Sold in June 2006 for $271,000
- Currently listed for $279,900 (no parking)
- Assessments of $295 a month
- Major Enterprises, Inc. has the listing
Unit #1604: 1 bedroom, 1 bath (no square footage listed but the other 1/1s are 650 square feet)
- Sold in April 2006 for $179,500
- Currently listed for $174,900
- Assessments of $230 a month
- Major Enterprises, Inc. has the listing
The short sales are really hurting the regular sellers. Other one bedrooms are on the market for around $200,000.
You can see the building’s pretty vintage carved ceilings in some of the pictures below.
This two bedroom is not a short sale:
Unit #1502: 2 bedrooms, 2 baths, 1150 square feet
- Sold in July 2006 for $261,000
- Sold in January 2007 for $296,000
- Currently listed for $328,000 plus $35,000 for parking
- Window A/C units- no central air
- Assessments of $319 a month
- @Properties has the listing
Where can you find out the mortgage liens on a property in the City of Chicago? (Relating to this being a “short sale.”) Is this info available online somewhere? Thanks in advance.
this used to be a somewhat seedy area, right in the middle of gold coast though. The building is quite old, I always thought they will tear it down…instead they converted to condos. Its a strage world we live in…
Try the cook county recorder’s website for info about mortgage liens.
http://www.ccrd.info/CCRD/il031/index.jsp
You need the PIN or owner’s last name. You can find the PIN by address from the county assessor’s website.
http://www.cookcountyassessor.com/
The area isn’t bad now, but the building is located on the very busy LaSalle and Division intersection, and right next to the Jewel store. I looked at it back when it was the apartment building, and their floorplans were actually pretty good, but for me, the noise was a deal breaker.
Isn’t the Mural Building actually the one that just west of the Kennedy that LaSalle bank has been painting the past few years (and Bigsby & Karuthers before them)? That’s what’s above the door when driving past the building on Ashland down below the expressway…
I love these apartments, even though I wish the bldg. were better located. Still, beautiful old places with great details, my type of places exactly.
The price doesn’t seem bad until you consider that the last unit, a 2 bed, sold for only $261K in 2006.
So, I’m trying to leave my emotions out of it and reason from the sales and price trends since the peak in 2005. No matter how much I love the place, it is not worth more than at the peak, especially given the oversupply of condos in the surrounding neighborhood.
A few weeks back, you chattered about a foreclosure at 345 N LaSalle, a premium (or close to premium) bldg. The unit you featured had sold for $600K at the peak, but now couldn’t fetch even $300K and was reduced to $259K. (wonder what happened with that place)
2006 was Post Peak, so is it worth even that much now?
What does everyone else here think this place is really worth now?
Laura,
If you’re interested, there are several 2/2 units in this building listed on realtor.com for under $300K.
$259,900
2 Bed, 2 Bath
1211 N LASALLE Unit: 503
$259,900
2 Bed, 2 Bath
1211 N LASALLE ST Unit: 402
$279,900
2 Bed, 2 Bath
1211 N LASALLE ST Unit: 1703
$285,500
2 Bed, 2 Bath
1211 N LASALLE ST Unit: 1102
Laura, the ceilings are wonderful in these units. Great vintage details.
We’ll know more what these will really go for when one of them goes into foreclosure and the bank has to sell it. I would be patient.
But some of the other buildings have seen quite large reductions so anything is possible.