3-Bedroom Lakeview Townhouse Reduces $100K in the Last 17 Months: 2820 N. Greenview
This 3-bedroom townhouse at 2820 N. Greenview in Lakeview has been on the market since May 2009.
It has been reduced about $100,000 from its original May 2009 listing price.
The townhouse is also now listed $46,100 under the 2005 purchase price.
Though it was built in 1991, this property has been renovated with a new kitchen and baths.
The kitchen has stainless steel appliances and concrete counter tops (no granite here.)
2 out of the 3 bedrooms are on the second floor. The third bedroom is in the lower level and is currently being used as a family room- with a full bath on that level.
Is this a deal for the square footage and location?
Genevieve Lenon at Romanek Residential Properties has the listing. See the pictures here.
Unit C: 3 bedrooms, 2.5 baths, 1900 square feet, 1 car parking
- Sold in May 1991 for $191,500
- Sold in August 2002 for $353,500
- Sold in September 2005 for $465,000
- Originally listed in May 2009 for $519,000
- Reduced numerous times
- Currently listed for $418,900
- Assessments of $200 a month
- Taxes of $6889
- Bedroom #1: 13×12
- Bedroom #2: 13×11
- Bedroom #3: 20×16 (lower level)
Given the townhome in WLV recently featured on here for 400k quickly went under contract this one has a chance. This one is 20k more and has one less parking spot, but arguably in a better location.
I think this is an okay deal, but not a steal.
Nice looking place, especially the kitchen. But the once vaunted SoPoCo is practically in Naperville (and this place is West of SoPo).
To me, this place is so ordinary, boring and monotonous that I would be depressed going home everyday.
“COMMERCIAL QUALITY SS APPLS”
Since when do restaurant kitchens use refrigerators with ice makers?
There are 2 other THs in this complex on CL for $2500/month. Which, using Stevo’s value calculator (modified to drop the DP multiplier), means this place is “worth” $376k, using last years taxes. Even with taxes going up, I think one could easily justify $400k for it.
catty corner from side street saloon = +$50k
I still don’t understand why you guys refuse to believe that the price of real estate is NOT solely based on rental value calculations. Most people out there are NOT investors and almost always will pay a premium (above the rental value) to live in a place that they like. C’mon guys – it doesn’t take a rocket scientist to understand this and realize it is true.
“I still don’t understand why you guys refuse to believe that the price of real estate is NOT solely based on rental value calculations.”
Why are you persistently so dense? I mean, I’ve been accused (with good reason) of being too literal around here, but at my worst, I’ve got *nothing* on you.
Anyway, who is “refusing to believe” anything, aside from you?
also if this is the end unit it has been trying to sell since like late 2007 but 417k for this is a pretty good deal IMO
“Why are you persistently so dense?”
I truly am trying to understand why you try to price all real estate as if it were an investment. Don’t you realize that most real estate prices are not based on rental parity. Look at 10 random recent sales and I bet all ten of them do not make sense from your “rental value calculator”. Just do it and get back to me.
“I truly am trying to understand why you try to price all real estate as if it were an investment.”
I don’t. That’s your perception. It’s a useful starting point–like prior sale price, amount of current mortgage, recent sale prices of comps–but it’s just a starting point. And Stevo’s value calculator was bestowed upon us by a man more bullish than even you, so it’s not like it’s some wild hare creation of the hairiest of the cc bears.
However, when you’re talking about a cookie-cutter 1 or 2 bedroom, if you’re paying more than rental equivalence, you’re being foolish, unless you know *for certain* that you have a 10+ year horizon in the unit.
I used to live a few blocks North of here back in the day. I remember gangs in the hood and selling my vehicle because I got tired of my windows being smashed. Those days look long gone. The wood frame 3-flat I was in is now a McCrapbox I see.
Is that army surplus place really still there? I thought it would be gone by now also. I’ll have to check it out one day.
“Is that army surplus place really still there? I thought it would be gone by now also. I’ll have to check it out one day.”
The one on Lincoln? Yes.
It is almost right next to Bakin’ and Eggs which attracts just about every family with rug rats in the entire BelPort community.
i wouldnt say it looks depressing except for the cc pic which makes it look like a parking garage. the listing pics are ok, check out the zebra skin rug! a little cramped though.