Get a 1235 Sq. Ft. 2/2 in River North With Parking For Just $350,000: 510 W. Erie
This 2-bedroom at 510 W. Erie in River North recently came on the market.
It’s a short sale.
It is a corner unit and has slate tiling throughout the living/dining area.
The listing says there are eucalyptus floors in the bedrooms.
The kitchen has maple cabinets, granite counter tops and stainless steel appliances.
This unit has central air, in-unit washer/dryer and parking is included.
It is listed for $5,000 under the 2002 purchase price at $350,000.
If this floorplan, including the slate tiling, looks familiar that’s because we chattered about a similar looking unit, #1005, in July 2012. That one was listed then at $499,999. It looks like it was withdrawn from the market in August.
See our chatter on that unit here.
Is this a deal for the square footage and the location?
Eugene Fu at @Properties has the listing. See the pictures here.
Unit #705: 2 bedrooms, 2 baths, 1235 square feet
- Sold in October 2002 for $355,000 (parking included)
- Currently listed as a “short sale” for $350,000 (parking included)
- Assessments of $675 a month (includes doorman)
- Taxes of $4357
- Central Air
- Washer/Dryer
- Bedroom #1: 13×12
- Bedroom #2: 14×12
They should have gotten rid of the ball lights on top of the larger bathroom. My parents have those in their house which was built in the late 80s.
Chilakeview – ball lights are “in” now I guess. I used to know what “in” was, then they changed what “in” was. Now what was “in” isn’t “in”, and what is “in” is weird and scary to me. It’ll happen to you too.
My place has those ball lights too even though it was built less than 10 years ago. I am too lazy to change them.
We call them “hollywood” lights, and yeah its way of out of style, but my wife actually likes them as they provide a ton of even light for makeup application. I wanted to replace them and she said no haha
Damn… wish that this made any sense for my wife and me. I love this building (well, at least from the outside) and this unit looks nice! Modern, but feels warm. Lots of light, windows in both bedrooms.
i’d think it would be a good deal at somewhere between $315-$330.
anyone have any idea about $657 HOA fees though? Seems a hundred or two high?
Nice-looking place but the listing agent needs to have the “!” key removed from his/her keyboard.
The $675 doesn’t sound bad to me, especially with parking included.
I’d want to be on a higher floor, but of course that would cost more.
Doorman adds a huge amount (200-300/mo.) to your assessments. Thats the main reason I wanted to move into a building that didn’t have a doorman.
I’d say this is priced about right. 2/2’s in good buildings (eg, not the one south of the park from this one) in this area are still selling above $350k. Assessments may be a touch high, but certainly not aggregiously so.
I believe my building’s budget for 24/7/365 doorperson is ~$150k/yr. For this building that would work out to $100/mo. ($150k / 124 units / 12mo = $100.80/unit/mo) As an Amazon Prime member, always having someone to accept packages and 24/7 package pickup, the added security of a doorperson, and having someone in the building to break into the condo upstairs when then washing machine overflows while no one is home and its raining in your master closet (personal experience) is worth every penny.
For such a small building, splitting the common fees like a doorman, elevators, etc. the assessments are pretty low… I live in a Lincoln Park high rise with almost 500 units, and the 2BRs in our building have assessments right around $700. I know they’re about middle of the pack for similar LP high rises.