2010 Starts Off With Aggressive Price Cuts at 2015 W. Fullerton in Bucktown
We’ve chattered about this 3-bedroom unit at 2015 W. Fullerton in Bucktown with its own private elevator several times in the last year.
See our October 2009 chatter and pictures here.
Originally called “renaissance interiors” in the original listing and then in “pre-foreclosure”, in 2010 the price cuts are getting more aggressive.
It has been reduced $309,100 since its original listing in December 2008 and has been cut $10,000 each of the last several weeks.
The unit has its own private elevator and rooftop deck where a hot tub is enclosed in a glass gazebo. There are finally pictures of the hot tub with the listing.
Remember, the furniture and wall coverings will not be there once you buy it.
At 3,420 square feet, is this getting close to a steal?
Mark Glusker at Mark Allen Realty has the listing. See more pictures here.
Unit #2: 2 bedrooms, 2.5 baths, 3420 square feet, 2 car garage, 1500 square foot rooftop deck
- I couldn’t find a prior sales price but records go back to 1986
- Originally listed in December 2008 for $849,900
- Reduced
- Was listed in February 2009 at $749,900
- Reduced
- Was listed in March 2009 for $699,900
- Reduced
- Was listed in October 2009 for $644,900– listing says “pre-foreclosure”
- Reduced numerous times
- Currently listed at $539,900
- Assessments of $327 a month
- Taxes of $10,612
- Private elevator
- Hot tub
- Parking included
- Central Air
- Bedroom #1: 18×25
- Bedroom #2: 10×15
- Bedroom #3: 16×12
Brutal location + horrid interior = crappy $/sf for the seller.
There are things to like about it but that location is just AWFUL.
Still really don’t like pre-fab shower units…
I don’t see a single window in this palce, besides the stain galss windows and I don’t know if they have actual daylight behind them. (Unless those are windows in the master bedroom, but still is that it?) So dark and dreary.
There’s something odd here. Mark Allan realty is on the first floor of this building. Both units 2 & 3 are pre-foreclosure and listed by a Mark.
Unit 3 is only $280; 3/2 with 1600ft2. Thats a better deal than unit 2. Not that either are great based on this locations.
I’d also be concerned with the state of the HOA, based on only 3 units -2 in the foreclosure process and one a commercial space- and with one person -Mark- involved with all 3 units.
Any CCRD slouth have time to provide details; I’m sure there is something to dig up.
15 feet from the worst intersection on the north side of the city. There’s a reason there’s no windows. Just imagine the sounds and smells as you sit on your 1500 sqft roof deck. Road rage and Popeye’s.
does anyone know the status of the underpass that’s supposed to replace the intersection there?
(i’m assuming it’s dead due to the city’s budget deficit.)
Assessor sez the buildnig is 28 years old and thinks that it is commercial space with 4 rental apartments upstairs. There does not appear to be a recorded condo declaration, so I don’t know how they’ll sell this place (or how they sold the others).
anon(Tfo) – you’re right. i ccrd’d it and I can even find an owner’s name anywhere. No condo decs or anything. This property is a title nightmare.
If the furnishings don’t scare away prospective buyers then the title mess most definitely will. This property could take a long long time to close
i can’t find an owner’s name, sorry
“does anyone know the status of the underpass that’s supposed to replace the intersection there?
(i’m assuming it’s dead due to the city’s budget deficit.)”
That is not just pie in the sky, that is pie a la mode in the sky.
“With 2 foreclosures it seems that his RE business is not doing as well nowadays”
It’s two desparate attempts to forstall loss of the one property.
There appear to be 2 active mortgages (tho I would guess the 2d modified the 1st, as it is for twice as much) which we all own (Park National Bank)–for $650k and $1.305mm, both from 2000.
I’m sure one could justify $650k for the whole mess, including the commercial space. Maybe even a little more.
Also, again note that the “3420 SF” includes the outdoor space. The whole building is ~4800 SF, on three floors, including a 1600 SF unit and the commercial space.
The google street map of this address is classic – a big garbage truck positioned right outside the front door.
“I hope this idiot never gets credit again”
He will and You will be paying off his current debt. (thats why we need better voting turn outs)
“He will and You will be paying off his current debt. (thats why we need better voting turn outs)”
So that Bob can pay for MORE of this dude’s debt?
“So that Bob can pay for MORE of this dude’s debt?”
LOL, its true the middle working man pays in the most dont they?
Definitely a location fail. Also a zoning fail. It’s crazy to have any new residential between the highway and the river at this location. I guess the property is mixed commercial & residential.
That said, I found the pictures to be striking. The colors, artwork, and stained glass sure peaked my attention.
Is the hot tub for all of the units or just this one? Imagine having a swinging homeowners association.
If you build it, they will come. That business model worked right up until reality hit.
Okay… I looked at the photos from the other thread, and now I’m embarrassed for calling this place “striking”. I wonder if the other 2 units look similar.
Speaking of the other 2 units, how can they sell one unit when the whole damn place is under foreclosure? Isn’t that “assessment” meaningless if a condo association hasn’t even been formed?
Reminder: The furniture, artwork etc. will NOT be there after you buy the property. There is no point in criticizing it if it’s not to your taste.
Obviously, how a property is furnished/painted CAN influence market time and selling price. So sometimes it is relevant to discuss this as it relates to the property (and I’ve gotten word from several sellers who have painted walls and removed furniture after reading comments about their property here on Crib Chatter.) This is common in the industry (remove clutter, paint neutral colors etc.)
But please refrain from simply commenting that the furniture is “ugly” etc. It won’t be there after you buy the property.
Thanks.
common sense really, your looking in the wrong place; if there’s a condo dec its formed it just might not be active or have reserves.
There places I have seen where it was ‘condo’ed’ but nothing else was done.
“Speaking of the other 2 units, how can they sell one unit when the whole damn place is under foreclosure? Isn’t that “assessment” meaningless if a condo association hasn’t even been formed?”
“common sense really, your looking in the wrong place; if there’s a condo dec its formed it just might not be active or have reserves.
There places I have seen where it was ‘condo’ed’ but nothing else was done.”
BUT, no dec is recorded, and the units don’t have separate PINs. They may be waiting for a nibble before going to the expense, but–for me–it would be a chicken/egg situation. There may be a condo dec executed as between the three units (third is the GF commercial space), but with common ownership, it doesn’t matter yet.
you buy it and you would own the whole place! no separate pin how would they sell just a sub section?
*this should have read to the effect
“common sense;a bank, look somewhere else.
this place then sounds like a law suit.