Back to the Future in the South Loop: 41 E. 8th
We haven’t yet chattered about 41 E. 8th, a 2002 new construction high rise in the South Loop.
The Craigslist ad for this 2-bedroom unit says it’s an “awesome opportunity” and that the seller is “motivated.”
It also lists the price as $365,000 plus $35k for parking.
In the realtor listing, the price is listed as $380,000 plus the $35k for parking.
Either way- this would seem to indicate only small appreciation from the 2003-2004 price.
Ricardo Jimenez at Rubloff has the listing. See more pictures and a virtual tour here.
See the property website here.
Unit #1902: 2 bedrooms, 2 baths, 1200 square feet
- Sold in March 2003 for $356,500
- Originally listed in July 2008 for $395,000
- Reduced
- Currently listed on the MLS for $380,000 plus $35k for parking
- Currently also listed on Craigslist for $365k plus $35k for parking
- Assessments of $519 a month
- Taxes of $4394
- A special assessment was just paid for the balcony repair work- which is just about completed
Yawn
Too much. 300k parking included.
A special assessment for balcony work on a brand new building — that’s a great selling feature!
The developer’s reputation speaks for itself.
Ouch didn’t catch the special assessment. What’s to guarantee balcony problems don’t occur again?
Does anyone know the back story on the balconies? It looked like an expensive overhaul.
When the concrete for the balconies was poured it didn’t settle correctly in the cold weather, and had bubbles in it. This caused large sections of concrete to peel or flake off the balconies, mainly on the underside, leaving the railings and the whole balconies unstable. They had earlier problems with the concrete used in the garage.
Thanks for the update on the balcony repairs Donna.
Does anyone know who the developer was for this building?