East Lakeview 2-Bedroom Bank Owned Vintage Reduced Again: 507 W. Aldine
We’ve chattered about this 2-bedroom vintage unit in the courtyard building at 507 W. Aldine in Lakeview several times over the past 3 years.
In fact, it seems like I’ve been posting about this property nearly the entire time I’ve been running Crib Chatter.
It first came on the market as a regular sale, then was a short sale and finally it went back to the bank.
The bank re-listed it at a further reduced price in December 2010.
When we last chattered about it in December 2010, some of you thought this was now a deal and would sell quickly given that it had parking, in-unit washer/dryer and was a 2/2.
See our December 2010 chatter here.
Alas, it is still available and has been reduced another $21,600.
In our last chatter, one of you pointed out that the listing agent, at Goodwill Realty, had 40+ pictures up on their site. You can check them out here.
While the kitchen and baths are intact, there does appear to be some TLC that is needed.
The kitchen has stainless steel appliances and what look to be granite counter tops.
Will this ultimately sell under the 2000 purchase price?
Saul Zenkevicius at Goodwill Realty Group has the listing. See the pictures here.
Unit#2B: 2 bedrooms, 2 baths, dining room, 1400 square feet
- Sold in May 1995 for $154,000
- Sold in June 1998 for $199,000
- Sold in April 2000 for $243,000
- Sold in March 2007 for $379,000
- Was listed in February 2009 for $410,000 (included the parking)
- Reduced
- Was listed in March 2009 for $399,900 (included the parking)
- Reduced
- Was listed in May 2009 for $375,000 (included the parking)
- Reduced
- Was listed as a short sale in June 2009 for $339,000
- Under contract
- Re-listed in September 2009 for $339,000
- Under contract
- Lis pendens foreclosure filed in December 2009
- Re-listed in May 2010 for $325,000
- Withdrawn in July 2010
- Bank owned in September 2010
- Was listed in December 2010 for $276,500
- Reduced
- Currently listed for $254,900
- Assessments of $362 a month (includes heat)
- Taxes of $5365
- No central air- only window units
- In-unit Washer/Dryer
- Wood-burning fireplace
- Deeded parking included
- Bedroom #1: 14×12
- Bedroom #2: 12×11
I going to go out on a limb here but I say a closed sale by the middle of May with a price in the range of $190-$215k.
Beautiful unit at an extremely attractive price, even though it needs some real work. This is where Lakeview vintage condos are going. The maintenance is not bad because it includes heat, and they’re $200 a month cheaper than comparable units I’ve seen in other buildings. But those taxes are death duties.
The bath needs serious help and that white brick wall behind the fireplace needs to be removed and the original appearance restored.
“In fact, it seems like I’ve been posting about this property nearly the entire time I’ve been running Crib Chatter.”
so who is forcing you to keep coming back to it when there are tons of other properties — GZ and non GZ — out there 😉
I am with Laura on this.
How on earth did this place ever fetch $379?
MAN, we are going to take a bath when we finally decide to sell our 2/2 a few blocks north!
But this is a good deal, needs only a small amount of work, and it’s in a great location/school district. If there were 3 beds we’d be interested…
Why would you winterize the toilet in an occupied multi-family building? I’m surprised it’s so cheap, it must not show well.