22% Off the 2005 Price On This 3-Bedroom East Lakeview Vintage Beauty: 434 W. Oakdale
This 3-bedroom vintage greystone unit at 434 W. Oakdale in East Lakeview has been on and off the market since April 2010.
In that time, it has been reduced $174,000.
The unit is now listed as a “short sale” and is priced about 22%, or $150,000, under the 2005 purchase price.
The south facing unit has 2 fireplaces and some of its original features such as a beamed ceiling in the dining room.
The kitchen is open to the dining room and has light green wood cabinets, white counter tops and white appliances.
The unit has an 18×10 sun room, a back deck and covered parking.
It also has central air and in-unit washer/dryer.
Is this a deal for the location and square footage?
Anne Laughlin at @Properties has the listing. See the pictures here.
Unit #2: 3 bedrooms, 2 baths, 2300 square feet, covered parking
- Sold in May 1989 for $275,000
- Sold in May 1991
- Sold in September 1996 for $400,000
- Sold in September 2005 for $675,000
- Originally listed in April 2010 for $699,900
- Reduced
- Currently listed as a “short sale” for $525,000
- Assessments of $389 a month
- Taxes of $9794
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 13×13
- Bedroom #2: 15×10
- Bedroom #3: 13×13
- Sun room: 18×10
Nice place. Half a million is chump change!
$475k. Max.
Now, that is a kitchen and bath that indisputably require rehab – Ach!
It’s amazing someone paid $675K in 2005 with that bath, but maybe they were on the redo and resell for $850K track.
“Now, that is a kitchen and bath that indisputably require rehab – Ach!”
why do you say that?
just looking through properties today, the inventory is AWFUL
I guess people that have nice places aren’t selling them because everything I see with a simple search 3br+,2ba+, 2250+ sqft totally blows
wow, those taxes are high! my uncle lived in this place in the 90s. it is a nice, big unit. definitely in need of updating. curious where this sells…
Why, Groove?
Well, perhaps the kitchen could jsut use a repaint, but that one bath is terrible and probably orginial to the 1989 conversion. Now if you like that style, you’re probably in heaven, but not me.
“It’s amazing someone paid $675K in 2005”
That’s *only* 6% per year over the ’96 price! How did this sell for $400k in ’96?
ME, oh shyte i totally didnt see the don johnson rolled up jacket sleeve bathroom.
now that was rough!
but the kitchen all it really needs its some good door pulls, a real sink and faucet and some paint and your good to go!
*i personally would go nuts with the electric stove and where its placed, but to the some that electric is fine its placement isnt a concern either.
Did i say OH MY about that bathroom, ALF called and he says he wants his bathroom back.
2 loans, 2 different banks and the 2nd not being a nominal amt means this will go from short sale to foreclosure in short order, no matter what kind of offer they get.
another property on “Oakdale”?
275k in 89 adjusted for inflation is about 490k today.
400k in 96 is about 560k today.
If the seller gets 525 that’d testify to the awesome power of QE. But if QE isn’t extended in June, I’d guess this will trade well thru the 89 price, to say nothing of that (bubble year) 96 price.
(I’m joking friends. 96 was a good year to get long.)
It’d be interesting to know what the taxes & assessments were in 89 & 96, soes one could see the cost of owning this crib ‘thru the ages.’
Its the quantity of “deals” like this on CC that makes me think QE3 is a lock.
Hear ya’ go, Wojo:
2005 Sold $675,000 Assmt $389 Tax $7803
1996 Sold #400,000 Assmt $238 Tax $6844
1991 Sold $342,000 Assmt $151 Tax $2063
1989 Sold $275,000
I don’t have the data for the 1989 sale which was purch from the developer at time of conversion. The developer closed on the entire bldg 1/20/89 for $494,000 with tax of $4730.
Why was the kitchen opened up to the dining room? The first thing I would do is close up the kitchen- why destroy a lovely traditional dining room with a “mod” open kitchen and breakfast bar- with laminate counters, no less?
“275k in 89 adjusted for inflation is about 490k today.
400k in 96 is about 560k today.
If the seller gets 525 that’d testify to the awesome power of QE. But if QE isn’t extended in June, I’d guess this will trade well thru the 89 price, to say nothing of that (bubble year) 96 price. ”
God help our financial system if we’re going back to 1989 levels. While I think it is possible I think it unlikely.
More gimmicks like a taxpayer credit on the way to 1989 prices for sure. Only way I see 1989 pricing in the cards is if big inflation pops up out of nowhere causing rates to go up to 8%+.
I’d say the kitchen was opened up so it didn’t feel like a coffin. I like this modification; it’s not simply an island isolating from the dining area.
I think the Realtor needs to exaggerate more than “Massive price reduction”. They need to say things like:
“Seller will be going on food stamps soon at this bargain price!”
“Any more price reductions and soon we will be paying you to live here!”
“Billionaire living at CHA prices!”
This deck is sad, and the view from it even sadder.