Bank Owned South Loop 3-Bedroom for $303K: 22 E. Cullerton
Looking for a lot of space in the South Loop? This bank owned unit at 22 E. Cullerton recently came on the market and it has 1875 square feet.
This is the top floor duplex up unit with a spiral staircase taking you to the loft.
The building was constructed in 2003.
Does it have a roof top deck? It’s unclear from the listing and the photos (maybe???)
It does have a separate balcony to enjoy those hot summer evenings.
From the pictures, the kitchen is still intact with newer cabinets, granite counter tops and stainless steel appliances.
The listing does say that while it is listed as a 3-bedroom, two of the bedrooms have been combined into one massive bedroom.
There is one outdoor parking space.
Is this a deal for the square footage?
Monique Washington at Coldwell Banker has the listing. See the pictures here.
Or you can see it in person at the Open House on Monday, June 28, from 2 PM to 4 PM.
Unit #4: 3 bedrooms, 2 baths, duplex up, 1875 square feet
- Sold in June 2003 for $417,000
- Lis pendens in December 2008
- Bank owned in May 2010
- Originally listed in June 2010 for $303,900 (includes the parking space)
- Assessments of $278 a month
- Taxes of $8510
- Central Air
- Washer/Dryer in the unit
- 14×8 loft
And heeeere come the bank owned units…
The Sloop is about lose 25% of it’s current perceived value.
The crazy thing is I wouldn’t even consider this place to be a *deal*. It’s on the L. It’s pretty far south. I don’t know a single person I actually like that live in this hood.
This seems to be the most effort put into a REO listing I’ve seen in a while: dozen+ picture of decent quality. A description beyond ‘bank-owned’, ‘no disclosure’,etc.
Nice view of the tracks from your bedroom.
I am not going to support the design, price, or location of this unit. There are too many factors that I do not know anything about in this neighborhood.
To all the el train haters that are going to comment I wanted to point out that our unit is thirty feet above the el and we slept with our windows wide open last night. Being near the el is not the end of the world. I’d aggree that it does affect the price of a unit but it is not the end of the world. Our bedroom is 100 feet away from the tracks and faces the other side of the building but it is really not that bad.
Perhaps my noise tolerance was learned early in life while growing up in Edison Park. In those days I was comforted at night by the occasional airplane landing.
I have to chime in on the South Loop, since so many crib chatterers bash it routinely. I’ve lived in a townhome in Dearborn Park II since 2002 and I love it. It is great for families, with two lovely parks within walking distance. Our townhome was built in 1992, when this area was still ‘iffy’ so the townhomes are not crammed onto small lots without any green space. I look out onto a lovely, verdant courtyard. You are also close to all transportation–the red, orange, brown, and green lines are two blocks from my house. Our community school, South Loop Elementary, is improving year by year; and our local private grade school, Old Saint Mary’s, just received the green light to build a new 12 million dollar campus at 15th and Michigan. Construction begins in the fall. The area has a great sense of community, too. I can’t think of a better place in the city to raise my family–and we are here for the long haul.
That being said, I don’t think this ‘duplex’ is a deal. I’m personally dubious that it is 1800 square feet–I think that may include the roofdeck. Also, there is the location right on the el tracks. I would also agree that there are too many condos in the South loop. But Dearborn I and Dearborn II are wonderful townhome communities, where many families are choosing to raise their children. People who routinely bash the south loop need to take into account its diverse housing stock and realize that many of the pre-boom, pre Central Station developments offer good value for the money for families who are committed to urban living.
Um except your bedroom I think is right on the el tracks here thats why its so cheap… well that and its a bank owned in the sloop
nice place though i’d take a look at it if i was still looking if you could scoop this up for like 250k I don’t think you’ll bee too bad in the long run
This building was never meant to be residential.
“To all the el train haters that are going to comment I wanted to point out that our unit is thirty feet above the el and we slept with our windows wide open last night.”
You must sleep well. I had corporate housing for my first job in Chicago (training), they put us up at Lake (just a little west of Michigan). So pretty close to the tracks and about 14 stories up. I would hear that damn train every morning. It sucked.
actuall i just noticed the rooftop deck, I’d go with this is actually fairly priced!
I used to live over the Twisted Spoke (RIP) at Clark/Roscoe and the el was about 15 feet from my bedroom window. Never once woke me up and the Windows were anything but sealed. The only time the train ever bothered me was when I was watching TV and a quiet spot got drowned out by the train.
Not to say I’d do it again (granted, the trains were pretty slow at that point, I wouldn’t want to live next to a part where the el flies past at 50+MPH), but the amount people will complain about it is completely over the top or everyone but me is a really light sleeper.
We just moved from our rental at Catalpa Gardens (that massive blue/yellow cinder block bldg in Edgewater), where we were RIGHT against the Red line tracks, about 4 stories up. While we did get used to the el noise, it’s definitely noticeable–and much more so when the windows are open.
“I used to live over the Twisted Spoke (RIP) at Clark/Roscoe and the el was about 15 feet from my bedroom window.”
I am still mourning the passing of the Texas Star Fajita Bar, myself. Twisted Spoke was an interloper!
What HD said.
Ditto for a solid percentage of the rest of this neighborhood.
I lived in Roger’s Park in a dorm directly on the el line and let me tell you when there are two red line and two purple line trains at the same time the sound is deafening even with the windows closed. No enjoyable one bit. You get used to it, sort of like you get used to sleeping in prison with a lightbulb shining directly into your eyes at night.
“but the amount people will complain about it is completely over the top or everyone but me is a really light sleeper.”
More likely you are going deaf. I also grew up in EP, and there is no comparison between the plane noise there and screeching El trains 30-100 feet away.
“Perhaps my noise tolerance was learned early in life while growing up in Edison Park. In those days I was comforted at night by the occasional airplane landing.”
“This seems to be the most effort put into a REO listing I’ve seen in a while: dozen+ picture of decent quality. A description beyond ‘bank-owned’, ‘no disclosure’,etc.”
This post was made with sarcasm intended….right?
HORRIBLE condition of the unit will drive away anyone who might be the slightest bit interested in touring the place. Regardless of who owns it at this time, one NEVER shows or allows pictures to be taken of a unit when it is in this condition.
Yeah I know the bank owns it and they have a reputation of not putting one ounce of effort into cleaning, but come on now….this is ridiculous.
What might be a somewhat passable unit for a…an idiot…yeah I said it… is ruined by the lack of care shown by the owner, then the bank, then the realtor who seemed to have gone out of her way in showing what a crappy place this is.
One of the nastiest, if not THE nastiest place featured on CC.
Now let me go wash my hands.
“One of the nastiest, if not THE nastiest place featured on CC.
Now let me go wash my hands.”
Are we looking at the same place or am I a total slob? from the pics it looks like it is just in need of a few coats of fresh paint. I don’t see any structural damage, mold, missing fixtures, etc…
am I seeing the same pics as westloopelo??
Did you take the virtual (visual?) tour from the listing? While the listing pics are somewhat passable, this poor excuse of a virtual tour just erases any hopes of an appointment to see this mess.
I hope visitors on this site take away just ONE TINY thing when it comes time to list their property. And that one tiny thing is the importance of staging…decluttering, cleaning, removing mold from any area where water is present, patching, touch up painting, etc. After all of these things are taken care of, having an experienced photographer take some usable photos from angles that bring out the units best features.
Again I know banks are notorious for not spending a cent on properties they have taken back, but this is ridiculous.
I know this couple here in NY who have a very lucrative contract with ______________________ bank to go through foreclosed properties and spruce them up so they are some what presentable. After bringing on these power cleaners/stagers, resales of foreclosed properties took off and they usually got decent offers for units that would otherwise have languished on the market.
I just wish all banks would consider doing this as it pays off big time in the end when sales actually happen.
“I lived in Roger’s Park in a dorm directly on the el line and let me tell you when there are two red line and two purple line trains at the same time the sound is deafening even with the windows closed. No enjoyable one bit.”
Right, I wasn’t saying that there aren’t scenarios where living near the el would royally suck. But the way people act that if you’re anywhere within a two block radius of the tracks that it’s a total non-starter is kinda dumb.
@WL,
Most of the REO listings I see have one blurry pic of the exterior and no information in the desciption beyond the usual legaleaze.
So the fact that there are 16+ pictures to complain about, makes this a better-than-usual REO listing. Its not a great listing. The pictures are marginal but at least you get to see the inside.
That part of the South Loop can get interesting…a little too far south!!!
“and our local private grade school, Old Saint Mary’s, just received the green light to build a new 12 million dollar campus at 15th and Michigan.”
So now a Catholic grade school is a “campus”? Do people really talk this this?
From Mirriam Webster: “campus”: the grounds of a university, college, or school.
Old Man; “people” generally don’t talk like that, but “profs” do.
I dunno, Mr. Prof… “But Dearborn I and Dearborn II are wonderful townhome communities, where many families are choosing to raise their children. People who routinely bash the south loop need to take into account its diverse housing stock and realize that many of the pre-boom, pre Central Station developments offer good value for the money for families who are committed to urban living.”
When you say “townhome communities”, you really mean gated, cul de sac’ed, “invented” communities. The townhomes there aren’t exactly priced for the Civil Servants working at UIC, either. I’m sorry, but being “committed to urban living” while doing so in a gated and pricey townhome development seems a bit of a stretch. I’m thinking a bunch of rich folks playing like they’re living in the hood with the homies.
“From Mirriam Webster: “campus”: the grounds of a university, college, or school.”
Maybe so but calling the neighborhood Catholic Grade school a “campus” is pretty goddam pompous and sure as Hell ain’t “Chicago”. Substitute “building” or “buildings” and be a regular guy. Don’t you read Paul Fussell?
I reckon I can say I went to the campus of Resurrection school on the West Side. Sounds ridiculous, eh? Tell me true.