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Update on Two Bedrooom Foreclosure in 212 W. Washington

A few weeks ago I chattered about a 2 bedroom, 2 bath foreclosure in City Centre Club, at 212 W. Washington, in the Loop.

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It has since been reduced again.  Is it truly a “deal” now?

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Unit #1902: 2 bedrooms, 2 baths, 950 square feet

  • Sold in October 2002 for $270,000
  • Was listed for $319,900 – including the parking space – on February 25, 2008
  • Now listed for $299,900 (still including the parking space)
  • Assessments of $469 a month
  • Re/Max Market has the listing

This entry was posted on Friday, March 14th, 2008 at 5:30 am and is filed under Foreclosures. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

7 Responses to “Update on Two Bedrooom Foreclosure in 212 W. Washington”

  1. Streeterville Realtor on March 14th, 2008 at 6:04 am

    The pictures don’t really do this unit justice. I toured it yesterday. So, it has nice real wood floors in both bedrooms, entry, kitchen, and Living Room. Both bathrooms have slate floors, oak cabinets, and black granite tops. The kitchen is OK with the cheapish modern Oak cabinets (they are 42”), ubatuba granite counters, and decent sized island. The balcony is large (about 17 by 4) and faces Washington. In unit laundry and decent closet sizes, including a large coat closet in entry.

    Downside, 2nd bedroom is super small (like 9 by 8) and doesn’t have a door. Neither bedrooms has ceiling light fixtures or junction boxes.

    I could easily buy it, put in SS appliances, and paint, and happily move in.

    In my opinion, 299K w/parking in the Loop is definitely a decent price for a Loop professional.

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  2. Streeterville Realtor on March 14th, 2008 at 6:05 am

    Not sure why there is a smile in my post. I didn’t put it there. Sabrina, isn’t that strange?

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  3. SR: I believe you typed an “8” right next to a “)” and that forms a smiley face in comment sections.

    I kind of like it!

    8)

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  4. How does foreclosure sale work? Does it go through as a regular real estate transaction or it is a long drawn out process? Do they sell “as is?”

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  5. Streeterville Realtor on March 14th, 2008 at 8:03 am

    This is short sale, same process, negotiate etc. Usually as is. Bank has to approve sale price

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  6. Downside, 2nd bedroom is super small (like 9 by and doesn’t have a door.
    —

    Then it’s not really a bedroom then.

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