Foreclosure Alert: Stresses Appearing in the Loop: 125 S. Jefferson
The Park Alexandria, at 125 S. Jefferson, on the west side of the Loop (some might consider that area to be the west loop) was built in 2003 as part of the continuing downtown residential renaissance.
One 2-bedroom has gone to foreclosure and is now back on the market as a bank-owned property.
Is this even a deal?
Here’s the listing:
VACANT, EASY TO SHOW, ** CALL THE NUMBER PROVIDED IN SHOWING INSTRUCTIONS FOR LOCK BOX COMBO** FAX OFFERS TO OFFICE. EXEMPT FROM DISCLOSURES**LENDER OWNED PROPERTY SOLD AS IS.**PLEASE INCLUDE PRE APPROVAL LETTER OR PROOF OF FUNDS WITH OFFER.
SELLER WILL NOT PROVIDE SURVEY OR TERMITE INSPECTIONS. **PLEASE EMAIL PROPERTY FEEDBACK ALL FEEDBACK IS HELPFUL AND APPRECIATED!!*****SOLD AS IS****
The Lake Shore Drive Group has the listing. See the listing here (sorry, no interior pictures.)
Unit #807: 2 bedrooms, 2 baths, 1370 square feet
- Sold in February 2004 for $372,000
- Sold in December 2006 for $375,000
- Lis pendens in October 2007
- Bank-owned as of August 2008
- Currently listed for $329,900 (doesn’t appear to include a parking spot)
- Assessments of $536 a month
- Taxes of $4,858
This similar tier 2-bedroom unit, Unit #1107, is also on the market but is not a foreclosure or short sale. It’s priced, with two parking spaces, only $10,000 more than #807.
Here’s the listing:
2 garage parking spots included in price! Seller will pay $4,000 buyers closing costs! Corner unit w/balcony. In-unit laundry. Granite in kitchen, stall and tub in m/bath. Home warranty. Bldg has 24hr door, exercise and guest bedrms to rent.
Alan Shultz at Coldwell Banker has the listing. See more pictures here.
Unit #1107: 2 bedrooms, 2 baths, 1340 square feet
- Sold in August 2004 for $342,000
- Originally listed in January 2008 for $389,000
- Reduced several times
- Currently listed at $339,000 (2 car parking included)
- Assessments of $540 a month
- Taxes of $5574
Attn: Flippers/Frausters – If you are going to scam the bank, at least get stainless steal appliances out of the deal….or were they swapped out before the foreclosure?
Ha! $1000/month in taxes and assesments! how ridiculous. Looks like this building will be the next low income apt conversion…
John: maybe you didn’t get the memo. Apparently black is new new stainless steel.
Outdoor space looks like a prison yard.
granted unit 1107 isnt a fantastic deal, however i cant see how its a horrible one either. true, assessments are a bit high, but its still a 2 bed, 1300+ sqft. unit in a newer high rise. taxes are not that high for a unit of this size either. throw in the fact that it includes 2 parking spaces and you got yourself a pretty decent deal.
if they lowered it to about $325k (and if i had that much) i’d buy it.