A Return to 2001 Prices on Clybourn?
This ad on Craigslist about 1727 N. Clybourn #1 caught my eye:
$484000 Bought for $440,000 in 2001!!! Duplex 3 Bed 2.5 Bath Garage Parking
Is this headline true?
1727 N. Clybourn, #1 is a 3 bedroom, 2.5 bath duplex, with 2400 square feet and garage parking. It has an interesting history:
- Sold in April 2000 for $397,000
- Sold in October 2002 for $440,000
- Sold this last May 2007 for $329,900
- Put on the market shortly after the May purchase for $500,000
- Recently lowered to $484,000
The May 2007 sale appears to be a foreclosure purchase.
Did the unit sell at one point for $440,000 in or around 2001/2002? Yes. But it’s a bit disingenuous to say that $485,000 is a great price (aka, a low price that is near pricing from 6 years ago) when it sold a few months ago for $150,000 less.
$150,000 in only five months time. Now THAT’S price appreciation.
We’ll see if they can get it. The condo is also available for rent.