Short Sale Reduced 50%: 2241 W. Adams near United Center
This 4 bedroom rowhouse at 2241 W. Adams on the Near West Side is in short sale.
It’s also been reduced by 50%.
The listing calls it a “great opportunity” to get in in the near west side while the market is excellent for buyers.
Is this a deal? The listing says the property needs work.
Linda Lamb at Rubloff has the listing. See the listing and exterior pictures only here.
2241 W. Adams: 4 bedrooms, 2.5 baths, 2 car parking, 1856 square feet
- Sold in April 1999 for $119,000
- Sold in October 2006 for $620,000
- Sold in June 2007 for $325,000
- Originally listed for $400,000 in September 2008
- Reduced several times
- Currently listed in “short sale” for $200,000
- Lis pendens filed Nov 14, 2008 on the property
- Taxes of $4917
The room dimensions don’t add up relative to the overall total square footage – unless there are no bathrooms, closets, hallways, or walls. Must be bigger than 1856.
I shudder to think how much work this place needs at that price and with a realtor who admits it needs work.
How in the hell did this place ever sell for 620,000 if it needed some work? Mortgage lenders are scandalous!!!!!
I can’t say I’ve ever been in the neighborhood. What is it like and what are the local amenities?
I haven’t been over there in awhile. It is pretty urban, not a lot going on right there I think.
Google streetview makes this area look like a block by block neighborhood. Nice houses 1 block, boarded up and/or trash filled lots the next
I tried looking at google but it doesn’t cover this block.
This is the edge of the West Loop development. It was doomed to failure from the start. It is a perfect example of pushing the neighborhood boundaries and pricing at only a slight discount to much more desirable areas nearby.
The area is a mix of new like this one, scattered site CHA 3-flats that “replaced” the Horner Homes, and remaining bldgs from the hood. It is isolated from more gentrified areas by the Ike to the S and the Kinzie Ind Corridor to N.
The bricks from the number of big old homes that were taken down around here as late as the 90’s must have made some nice facades for McMansions.
Thanks for the description, G. I’ve been to the United Center a handful of times and I remember the general area being very shady. I know the west side has gentrified a lot over the years but 2241 W Adams seems too far west.
Not a good place.
DID YOU HERE THE GOV GOT ARRESTED? WOW.
“DID YOU HERE THE GOV GOT ARRESTED? WOW.”
I guess that makes it a tradition now.
HAHAHA YES I KNEW IT!
THAT DOPE CAN SHARE A CELL WITH GEORGIE BOY!
What are the odds this gets back to Daley?
I’m betting he covered his tracks better. He is more of a pro than amateur Blago.
Wow, he actually DID!
Throw the bastard in jail. he lost my support when he thought giving seniors a free ride on the CTA would help their budget problems.. blatant pandering. I AM disappointed that I didn’t get to VOTE him out by the recall provision I voted for on the ballot.
Not to turn this into a political blog, but the things these guys do indirectly affect real estate.
I read the indictment, the guy tried to SELL THE OPEN SENATE SEAT!!! I would bet my left toe that Emil Jones is next.
It is possible that it goes to Richie, but I honestly think that he is not that crooked.
ChiGuy,
This is why its hard to feel sympathy for the declining quality of life around here or the increasingly ineffective and overbearing beaurucratic government. Illinois voters had a chance to vote on changing the constitution to add a governor recall provision. Despite the governor being dismal in opinion polls the citizens voted to keep the state constitution as is.
Its my conclusion that most who like to whine and moan about the government around here really aren’t that bothered by it, they’re just looking for an excuse to whine and moan. Around here the same party and the same people are consistently re-elected regardless of performance. I find it hilarious.
Bob,
The problem isn’t with the constitution, it is with the idiots that we keep electing at all level of state and local office. The state ran fine when Edgar was Governor but we haven’t had a decent and clean guy since him.
Also, we haven’t been electing the same party over and over. For a long time Illinois was actually a GOP controlled state at the state-wide office level. It was only after Gov Ryan trashed the name of the republican party for state-wide offices that the dems have controlled everything. Of course now that we see how well that worked maybe we can get a real small gov’t anti-corruption GOP candidate in the next cycle.
I think it goes without saying that there was mortgage fraud in the 2006 sale, and maybe again in 2007.
Also, I too am glad to see that scumbag Rod getting what he’s had coming to him. I’m amazed it happened this quick.
Bob- Around here the same party and the same people are consistently re-elected regardless of performance.
it’s too bad i haven’t live in Chi long enough to vote for Mayor.. Daley needs to be voted out and we need to impose term limits too. I whole heartily agree w/ your “analysis” which is why I voted for BHO and not McSame, even though I don’t necessarily agree w/ all of BHO’s positions.
“we need to impose term limits too”
I’m not sure term limits are the best bet for mayor. Look at cities like Kansas City, they have term limits and as a result, every mayor to come through, starts a few new projects only to have the next mayor come in and squash them. It really slows the progress of the city as a whole.
ChiGuy,
How much you wanna bet that the free senior rides is tied into this whole thing? It made no sense. Maybe some senior group made a big contribution in exchange for free rides.
Oh,and those free rides cost the homeowners of this city.
We know what Blago’s opinion of Obama is (he called him a mother f’er). What is Blago decides to squeel like a pig and rats out Obama in exchange for a reduced sentence?
“rats out Obama”
For what? On second thought, don’t answer that.
Take it to Redstate or Townhall.
Or send your fever dreams to NRO–I’m sure someone there will pick them up as “prominent Chicago attorney suggests Obama implicated in X”.
Most of the dirt on Blago was from very recent events. They obviously didn’t believe they had enough to charge him until these recent events given the indictment details the investigation started back in 2002. So its my guess that he doesn’t have a lot of info on Obama or at least not enough to lead to any charges.
And the US attorney’s office would have a very high threshold to bring charges in a very short timeframe given that BO is gonna be the one setting their budgets, appoint their boss, etc in only five weeks. No way this scandal gets to him is my guess. Zero chance.
My goodness you are so naive….most if not all politicians are dirty. I wasn’t trying to make a political statement about Obama I was making a comment about the guv spillin the beans now that he’s on tape.
“anon (tfo) on December 9th, 2008 at 1:42 pm
“rats out Obama”
For what? On second thought, don’t answer that.
Take it to Redstate or Townhall.
Or send your fever dreams to NRO–I’m sure someone there will pick them up as “prominent Chicago attorney suggests Obama implicated in X”.”
Candidate 1 is one of Obama’s senior advisors Valerie Jarrett
Candidate 5 is Jesse Jackson Jr.
Other blogs are covering this stuff but I thought I’d . Gotta run, have fun. See y’all later.
Existing home sales fall %.07….
“I wasn’t trying to make a political statement about Obama I was making a comment about the guv spillin the beans now that he’s on tape”
You aren’t stupid–you know what singling out someone in a statement like that implies, and so do we.
A comment that’s not a statement about Obama would be something like “I wonder who he’ll take down with him” or “I’m looking forward to him taking down soo many Illinois politicians when he squeals like the typical politician pig he is”.
Which candidate is Emil Jones? I think Jones is five.
“Which candidate is Emil Jones? I think Jones is five.”
He’s five or six, I think.
Trust me, you don’t want to live west of the United Center, especially that close to Western Ave.. Amazing it didn’t sell at 400k… not
Too close to Crane high school and Touhy Herbert Park (though a short walk to buy your weed), and too much section 8 housing in the neighborhood. There’s also nothing to walk to around there.
I’ve heard rumors that the nearby St. Stevens apartments (bounded by Jackson, Oakley, Van Buren, and Western) are owned by UIC and will eventually be gutted, but that could just be wishful thinking. If this is true, it’ll make Crane dismissals less interesting, as then that’ll get rid of the Traveling Vice Lords in the neighborhood, leaving the area solidly Black Disciple.
I’d also think that there was some fraud in that $620k sale.
I smell mortgage fraud…no way that place should have appraised and sold for $620k. I bet a steak dinner there was a fraudulent appraisal completed, fake title work, and a ex-gang member acting as the mortgage broker and Realtor who took the money above the true value on the home and skipped town.
“a ex-gang member acting as the mortgage broker and Realtor who took the money above the true value on the home and skipped town.”
They don’t usually skip town. And he’s probably still in business, here.