Flipper Alert: Selling for Less in 1841 S. Calumet
Investors who closed on condo units downtown in 2006 continue to have difficulty selling for more than they paid.
Such is the case in 1841 S. Calumet a 22 story high rise in the South Loop that was completed in 2006. There are 9 units for sale and at least 3 units for rent.
Unit #1708: 2 bedroom, 2 bath, 1085 square feet
- Sold in December 2006 for $399,199
- Currently listed for $379,000 (includes the parking)
- Stephany Oliveros at Re/Max Signature has the listing
I took a look at this unit last week and i really liked it although the finishings seemed quite cheap and the unit did not also seem to “feel” 1100 SF. Does anyone know anything further of have thoughts about this building?
It’s possible they are including the balcony in the square footage. You should check to be sure. That can actually tack on quite a bit of “square footage”.
Anyone else with any insight into this building?
I am currently renting an east facing unit in this building. The pool has not been completed (unable to get a permit), the windows in some units were not installed properly, so water leaks into the apt when it rains. Now the central air-conditioning broke down and all the apartments feel like saunas.
The owners are sueing the developers for doing a poor job in the units, using low quality products and not delivering what they initially promised. These units do not match up to the quality of the units in Museum Park Towers 2,3 or 4. I also heard they increased the assesments by 40% this year.
Buy at your own risk…
The problems in that building have gotten so bad they picket the sales center! It was reported in the Sun-times and Yo-chicago. I hope the second one will not be like this. But Museum Park now is building cheap and fast. Even the flag ship One Museum Park looks cheap and those are million dollar units!!!