Short Sale Pushes Price Below 2001: 1371 N. Mohawk in Old Town
This 3-bedroom unit at 1371 N. Mohawk in Old Town is in short sale but a lis pendens was also recently filed against it.
The current short sale price is already $45k below what the unit sold for in 2001.
Here’s the listing:
Offer Subject To Lender’s Final Approval. Rarely Avbl. Top Flr Bi-level In Heart Of Old Town.2 Outdoor Decks & Stunning Skyline Views! Dramatic Plan W/Hi Ceilings & Tons Of Natural Light.
2000+sf. Open Gourmet Kit Into Liv/Din Combo. Maple Cabs/Granite/Ss. Maple Flrs In Prime Areas. 2 En-suite Bdrms-both W/Decks. 3rd Bdrm+ofc/Loft. 1c Gar+in-unit W/D Incl. Prime Location W/Walking Convenience To Everything!!
Gregory Eldridge at Baird & Warner has the listing. See more pictures here (if the B&W link isn’t working properly).
Unit #3: 3 bedrooms, 3 baths, 1 car parking
- Sold in October 2001 for $545,000
- Sold in May 2006 for $590,000
- Originally listed in May 2008 for $699,900
- Reduced several times
- Currently listed for $500,000
- Lis pendens filed in October 2008
- Assessments of $194 a month
- Taxes of $7,822
“All around the limbo clock
Hey, let’s do the limbo rock
Limbo lower now
Limbo lower now
How low can you go”
— Chubby Checker, Limbo Rock
wow, that furniture sure lives up to the OLD in old town!
I agree…the furniture makes this place look horrific!
Eh, furniture goes with the seller. Floors, windows and noise stay with the buyer. I find it interesting that the home looks very clean and the plants are in great condition. It is almost as if the person went on with life as usual, minus the mortgage payment.
Eh, furniture goes with the seller. Floors, windows and noise stay with the buyer. I find it interesting that the home looks very clean and the plants are in great condition. It is almost as if the person went on with life as usual, minus the mortgage payment.
What horrible coloring on the walls. Another flipper poseur over their head who thinks they have some great talent in color selection in addition to being a mini Trump.
I bet they blame the market environment and a whole slew of other factors other than that they bought a condo at the wrong time at an inflated price and real estate doesn’t always go up.
But hey at least they got some free rent out of the deal from the looks of it. Foreclosures take a year and this would rent for 2,500 easy so 30k for a shot FICO score, not too shabby..
Homedelete – again, I must say that you are a dork!
Stevie, you’re an extremely creepy guy, and I hope I never meet you in person.
I think HD and SD should just get over themselves and kiss already
I think Steve should just leave and not come back here.
Nice view from the porch. Offhand, it doesn’t seem like too bad a price for a 3bed/3bath this close to downtown, but it’s pretty close to some large Sec 8 projects (Marshall Field Homes and Evergreen Tower along Sedgwick and Hudson, plus whatever will replace Cabrini-Green) which would likely depress the price somewhat. This block of Mohawk, however, is quite pleasant if a bit sterile still from being all new construction.
What does a foreclosure do to one’s FICO? How bad is it?
It’s not so much the foreclosure that destroys the FICO as much as the multiple 120+ day past dues. A foreclosure judgment stays on the report for 10 years whereas the late payments stay for only 7. But if the foreclosure judgment comes in year 2 of 7 of the late payments, the foreclosure can affect you for 10 years from the entry date, meaning the entire process can remain on your credit report for 12 years or more.
Looks like an OK unit but the location is very scary.