Foreclosed Penthouse in The Caravel Sells: 635 N. Dearborn in River North
Remember the bank-owned duplex penthouse unit in The Caravel, at 635 N. Dearborn, in River North?
We had a discussion of what it would take to bring it back to life and whether or not it was a deal back in April 2009.
See the prior chatter about the unit here (sorry- no pictures included- you’ll have to use your memories and the comments as a reminder about the condition of the property).
7 months later, the unit has finally sold for $88,900 under the original April 2009 listing price.
The 2-story unit had a 500-square foot private sun deck.
Robert Shutay at Realty Executives Ambassador had the listing.
Unit #2804: 2 bedrooms, 2 baths, 2300 square feet
- Sold in January 2005 for $850,000
- Bank-owned
- Was listed in April 2009 for $713,900 (looked like one parking space was included)
- Reduced to $688,900
- Sold in October 2009 for $625,000
- Assessments of $1695 a month
- Taxes of $13,000
- Den is 29×12
Some pics here- http://www.urbanrealestate.com/property/635-N-Dearborn-Unit-2804-CHICAGO-IL-60610-73XNPPLBZVQGI.html
No one has anything to say about this one?
How ’bout–what’s with the taxes? The nut is $2800/month if buyer paid cash. Is this place really worth ~$5500/month?
it’s just not the same without pictures
“it’s just not the same without pictures”
Only a couple of the unit (along with some of the building), but here you go:
http://www.urbanrealestate.com/property/635-N-Dearborn-Unit-2804-CHICAGO-IL-60610-73XNPPLBZVQGI.html#
seems nice and that’s not a ton of dough for all that room. I’m guessing those taxes should be lowered to about 10k at most. wouldnt want to live across from excalibur though. funny, I always thought the caravel was a more ornate building. maybe got it mixed up with the fordham.
maybe they can add some bedroom and a family could move in. Or add 3 bedrooms and get 5 guys that love cheezy nighlife to rent it at 1100 each.
Good deal in my opinion.
damn I would of bought this for that price.
Wow! I guess this is a pretty good “deal” considering the neighbor across the hall that has his unit listed at $1 million. (It would be interesting to see if that price drops anytime soon.)
I lived in this building. UGH. Management leaves A LOT to be desired and the building CONSTANTLY smells of sewer the moment that you walk in the front door of the building. WELCOME HOME! And yes, you can hear the Excalibur antics even on high floors (my neighbor wore ear plugs to bed.) Not to mention, the ambulances/ fire trucks from the station at Illinois and Dearborn. (Just to add, I have lived in 5 units in the River North and Streeterville and NONE of the siren sounds are even remotely as loud as this one.)
Not for me…no way…no how….even if it was really cheap….
Is this place back on the market? I’ve seen it for sale still, what’s the deal?
http://www.dreamtown.com/list/detail.do?ln=07235917&n_id=170&id=1103371