Four Months Later: Still Available and No Price Reductions: 2944 N. Broadway

We last chattered about this 2-bedroom unit at 2944 N. Broadway in Lakeview in September 2008.

Many of you thought it was overpriced in the fall. See our chatter and pictures here.

It’s still available and there has been no price reduction. (Note bedroom sizes below- which were a topic of chatter in September.)

Here’s its history again:

Unit #2N: 2 bedroom, 1 bath, no square footage given

  • Sold in May 1999 for $159,000
  • Sold in March 2002 for $255,000
  • Sold in June 2005 for $295,000
  • Was listed in September 2008 for $308,800 (parking included)
  • Currently listed for $308,800
  • Assessments of $163 a month
  • Taxes of $2724
  • Bedroom sizes are: 12×9 and 10×11
  • Central air
  • In-unit laundry
  • Re/Max Signature still has the listing.  See more pictures here.

9 Responses to “Four Months Later: Still Available and No Price Reductions: 2944 N. Broadway”

  1. And no new pictures, either.

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  2. Woooo-oooo we’re halfway there. Woooo-oooo livin’ on a prayer! Take my hand, we’ll make it I swear. Woo-ooo livin’ on a prayer!*

    *My apologies for the early gratuitous JBJ karaoke rendition. Its not as bad of a song or rendition if you’re wasted I promise. Just ask this seller.

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  3. Their realtor must be hiding in a hole somewhere

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  4. if nothing changes, everything will stay the same. this one will follow the market down until it sells at 260K next October

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  5. Agreed. Did anything really go up since 2005…anywhere? Even before the collapse of the entire financial system in September, homes were still closing around or below their 2005 levels in Lakeview this summer.

    The only place I remember seeing that went up like 50-60k was in “The Pointe” in lincoln park. It sold a few weeks after listing (for 50k more than they got it in 2005) this summer.

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  6. -Bedroom sizes are: 12×9 and 10×11 (SMALL!) Seriously, I stretch out to 9 feet.
    1 Bath (for 300k!)
    -Doesnt seem to have gone through any rennovations justifying an increase over the 2002 price.
    -Was listed at the height of the bubble at 295 (lower than the current price!)

    Now lets assume that its peak price when everything was fine and dandy in 2005 was actually 295. What should this really be?

    Nothing special about it, I would put this one at 210-225 fair value.

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  7. WantToGetOut – 340 On the Park is a great example of a building that has actually increased in value…

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  8. I am not familiar with that area…other than passing it on LSD. So, if it really went up, I’m curios why it did. Was that an issue of the whole park development finally being done …so people like it more now? I remember vaguely…how that area was sort of built up out of nothing in the last 10 yrs…but what makes it special enough to appreciate in this market?

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  9. What is going on with the realtor on this listing? The pictures look like they were taken by a 7 year old! I would consider 295,000 if the place had parking.

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