Bank Owned 1-Bedroom $95K Under 2006 Purchase Price: 150 W. Superior in River North
This 1-bedroom plus den in the midrise building at 150 W. Superior in River North has been on the market since February 2010 as a bank owned unit.
It has been reduced by $60,100 since that time.
It is also now listed for $95,600 under the 2006 purchase price.
The unit has hardwood floors and, according to the pictures and the listing, the kitchen and baths are intact.
The kitchen has cherry cabinets, granite counter tops and stainless steel appliances.
The unit also has a marble fireplace and a balcony.
There is central air, and an in-unit washer/dryer.
However, there appears to be no parking with the unit.
150 W. Superior is a smaller, boutique building with only 55 units.
Is this a deal?
Linda O’Donnell at Re/Max Signature has the listing. See the pictures here.
Unit #806: 1 bedroom, den, no square footage listed
- Sold in November 2006 for $365,600
- Lis pendens filed in March 2009
- Bank owned in January 2010
- Originally listed in February 2010 for $330,000
- Reduced
- Currently listed for $269,900
- Assessments of $305 a month (includes cable, doorman)
- Taxes of $5794
- Central Air
- Washer/Dryer in the unit
- No parking
- Bedroom: 13×12
- Living room: 21×18
- Kitchen: 10×9
- Den: 12×9
I saw this unit. Really nice building but the view…wow…talk about a total deal breaker.
it’s nice to know that you would have the worst unit in the building surrounded by beautiful units….not…a decent deal none the less
taxes high?
parking?
those taxes are 50% high and no parking in a brand new building is pretty funny
the developer still has parking space for sale. asking price is 30,000
I have been in this building several times since a buddy of mine lives here. It is a beautiful building with top of the line finishes. If parking is included, although I have no idea if it is or is not since Sabrina didn’t mention it, this maybe a pretty decent deal minus the taxes. Does this unit have TV’s in the bathrooms like my friends does? And I agree the taxes are way too high for this unit.
“this maybe a pretty decent deal minus the taxes. ”
Which means it isn’t a deal at all. Unless your strategy is to not pay your taxes.
26% off, not bad.
I have an offer from a seller for a condo a few blocks NW of this one. They are offering 22% off their 2006 purchase price. Considering it’s not an REO, is it a deal just based on their purchase price? The condo was one of the most expensive in that tier. There is another similar unit (but worse finishes) for sale in the same building that was purchased for $40k less, but that seller isn’t budging below what the other seller is offering. Thoughts?
How does one get their prop taxes reduced in Chicago. What’s the process. Are they based on actual selling price (a real assessment of the properties market value)?
I looked at this building when it opened. As I remember there are zero amenities, not even a workout room. The models were really nice, but some of the layouts a little goofy.
Sold! Anyone know the details?
I just see that this is pending. Hasn’t closed yet so no one will know any details until it closes.