$24K Price Cut On Top Floor Vintage 3-Bedroom: 448 W. Wrightwood In East Lincoln Park
We last chattered about this top floor 3-bedroom at 448 W. Wrightwood in East Lincoln Park in June 2012.
See our chatter here.
Back then, the sellers were trying to get a 15.5% premium over the 2009 price.
Listed at $699,000, some of you thought if they got an offer for $660,000, which is what Unit #1, a 3/2 with 2100 square feet sold for in June 2011, that they should take it and run.
The unit was recently reduced $24,000 to $675,000.
If you recall, it has many vintage features including original woodwork, french doors, coffered ceilings, and original built-ins.
It has two outdoor spaces, one overlooking the front of the building and a deck in the back.
The kitchen has white cabinets, granite and wood counter tops and stainless steel appliances.
The unit has all the other features that buyers look for including central air, washer/dryer in the unit and garage parking.
Is the reduction on this unit a sign that the market isn’t quite as hot as everyone thought?
Kris Mork at Coldwell Banker still has the listing. See the pictures here.
Unit #3E: 3 bedrooms, 2 baths, no square footage listed, garage
- Sold in December 1994 for $332,000
- Sold in August 2000 for $570,000
- Sold in November 2006 for $558,000
- Sold in April 2009 for $590,000
- Was listed in June 2012 for $699,000
- Reduced
- Currently listed at $675,000
- Assessments of $375 a month
- Taxes of $9339
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 15×13
- Bedroom #2: 14×10
- Bedroom #3: 11×9
- Family room: 15×14
- Laundry room: 4×4
1. Denial – My house is worth more than I paid for it
2. Anger – Why isn’t anyone buying my place!?!
3. Bargaining – Ok Ok, I’ll drop the price a little bit
4. Depression – 6 months on the market and not a single bid
5. Acceptance – I will have to sell it for less than I paid for it
Is the 3rd bedroom the one with french doors or is it a 3 bedroom *plus* that room?
I’ll say it again: Just because it’s the top floor doesn’t make it a penthouse. Someone tell the listing agent.
Nice looking place, though, but overpriced.
The right buyer will pay this price: In the year 2208!
#5 – “I’ll just stay here for awhile” or “I’ll rent it out for a year or two and try again”
What’s with those weird doors off the kitchen to the back deck? Are those just plastic inserts to make it look like lots of little windows on the door, or is it a functioning metal grid acting like a security door?
Prior chatter comments affirmed and still say $600k.
This unit is under contract. Closing in early November.