A West Loop 3-Bedroom Townhouse for Under the 2004 Price: 26 S. Aberdeen
This 3-bedroom townhouse at 26 S. Aberdeen in the West Loop has been on and off the market since April 2009.
In that time, it has been reduced $90,900.
It is now listed $1,000 under the 2004 purchase price.
The townhouse was built in 2004 and is 2000 square feet.
There are 2 bedrooms on the third floor and one on the main level.
The living/dining area is on the second floor.
The kitchen has stainless steel appliances, granite counter tops and cherry cabinets.
There are bamboo floors and the master bathroom is slate.
The townhouse also has a 200 square foot rooftop deck and a 2 car attached garage.
For comparison, another 3-bedroom in the complex at 16 S. Aberdeen #7 which was 2200 square feet but had similar finishes sold in May 2011 for $405,000.
Is the low $400,000s the new market price for these townhouses?
Jeanne Carava at Prudential Rubloff has the listing. See the pictures here.
Unit #3: 3 bedrooms, 2 baths, 2000 square feet, 2 car parking
- Sold in March 2004 for $420,000
- Originally listed in April 2009 for $509,900
- Reduced several times
- Was listed in October 2010 for $449,000 and then was withdrawn
- Lis pendens foreclosure filed in December 2010
- Re-listed in June 2011 for $419,000
- Assessments of $185 a month
- Taxes of $5878
- Central Air
- Bedroom #1: 14×13 (third floor)
- Bedroom #2: 13×9 (third floor)
- Bedroom #3: 13×12 (main level)
“Is the low $400,000s the new market price for these townhouses?”
Yes.
Next!
All I can say is WOW. What an amazing deal for an amazing home. I hope the foreclosure doesn’t scare prospective buyers away. I can’t believe units this large, this close to downtown, sell at this price point. $419,000 with a 10% down payment is going to put a nice young professional couple in the heart of the city, walking distance from work (in the summer) for roughly $2,000 a month. To think that this is priced below 2004 prices seem absurd to me. This is a large, roomy unit with a private deck and what appears to be a den/office, with multiple windows too. And the view of downtown is impressive from the west.
Skinner Park, skinner CPS school, it all fits together for a nice home.
HD you’re stupid. Just because they paid $420k for it in 2004 does not mean it is worth $419k today.
It’s not about worth Bob, it’s about value. This is a good price to live this close to the loop in 2000 sq ft with a private deck. This is a nice town house, not some condo. no neighbors above or below. This is a deal. No doubt about it.
Bob – I am jumping on the HD bandwagon for this property! It is in a great area with decent restaurants, an excellent grade school, and two parks within a very short walk. For a couple that is working downtown with small children or just getting married it could easily be a 10+ year home. At this price point I would take it over most blah blah condos featured on this site that are in the green zone.
Easy commute + great school + nice layout + reasonable taxes/asses = value!
“It’s not about worth Bob, it’s about value.”
Comment of the day!
I fear we’ve broken HD. Or has someone hacked his acccount and is posting these comments?
“Or has someone hacked his acccount and is posting these comments?”
Suzanne.
It’s a shame. I long for the days when HD actually had some occasional value. His alter-ego he has neither worth nor value.
Oddly, I miss HD’s cynicism and bleak outlook.
I actually kinda like this place…
I would take the Madison St. bus to work in 20 mins or a nice leisurely 30 minute walk
It’s plain, but I like townhouses better than condos. The neighborhood is convenient.
The price seems about right. I wish they had buried the power lines when these were being built though.
“It’s a shame. I long for the days when HD actually had some occasional value.”
“Oddly, I miss HD’s cynicism and bleak outlook”
More proof that the majority of opinions on this blog are based on psychological factors (people want to feel better about not buying, continuing to rent, etc.). It has nothing to do with reality. Always remember, losers are always looking for company……
Clio, I’m actually in the market to buy. I mostly fall into your line of thinking. I just find **occassional** value in differing viewpoints.
Oh my how the times are a changing! HD has gone positive and Clio the forever cheerleader with the optimistic viewpoint is now “missing HD’s bleak outlook.
Sabrina it is time to change the sites name to Chatter Crib because everything else on the site is beginning to look backwards.
The CPS school locator shows this as being Skinner for K-1 and then Brown. Isn’t skinner a magnet and/or selective enrollment school. I’m not sure you can be zoned in for it.
I think its kind of sterile…
Yes Skinner is K-8 but if you live in a specific area close to the school then you get auto entry. At least that is what my well researched wife tells me anyway!
I used to live near here and walked by everyday to catch the madison bus. This has to be one of the ugliest developements in the city. I challenge you to find something uglier.
Sidelined Buyer
Easy challenge. I’ll take the NW corner of Cleveland and North Ave for an uglier development. Check out the birds eye of that interstection. BTW there are several runner ups within a few blocks. .
Challenge won! Not even a contest.
http://www.bing.com/maps/?FORM=Z9LH4#JnE9LjE2MDElMmJOJTI1NDAyJTJiQ2xlVkVMQU5EJTJiQVZFJTJiQ0hJQ0FHTyU3ZXNzdC4wJTdlcGcuMSZiYj00MS45MTIxNjk4MzgwMDg4JTdlLTg3LjY0MDM2Mjk5NjQ1NDIlN2U0MS45MTA1MDIzNjQzMzY3JTdlLTg3LjY0MjgxNTM2MTIwMg==
Lots of folks on here often comment upon architecture, city planning, curb appeal, etc., and hold much of this recent boom era’s construction in especially low regard (understandably so).
But there’s one thing I never hear anybody complaining about, and it ranks among the gravest aesthetic crimes against urban society of the 20th century. Perhaps it’s because it’s just a fact of life here (and thus goes unnoticed), or maybe everyone is aware of it, but figures there’s little that can be done now. What is this offense to the senses, which afflicts Chicago neighborhoods both rich and poor? Take a look at the picture of the subject property: are those wires/cables not enough to make you cry, even on a Friday afternoon?
Please, please, I don’t wish to provoke yet another NYC vs. Chicago sub-thread. But good golly, the powers-that-were not only did future New Yorkers a huge favor by placing the subway underground…they also blessed them by doing the same with much of the city’s wires/cables (in Manhattan at least).
I mentioned the power lines upthread. I thought they newer developments were required to bury the power lines, but this is one is fairly new and the lines aren’t buried.
the… not “they”
Stupid fingers
“Please, please, I don’t wish to provoke yet another NYC vs. Chicago sub-thread. But good golly, the powers-that-were not only did future New Yorkers a huge favor by placing the subway underground…they also blessed them by doing the same with much of the city’s wires/cables (in Manhattan at least).”
And in the sliver of Chicago that is most like Manhattan, the powerlines are mostly underground, and there also lies the subway portion of the El.
I don’t know, anon. The Loop/Streeterville? Most like what parts of Manhattan? Midtown?
Here, the wires are ubiquitous throughout the nicest residential neighborhoods, whereas the wires are scarce throughout the nicest parts of the UES/UWS, SoHo, GP, Chelsea and the E & W Village.
“Please, please, I don’t wish to provoke yet another NYC vs. Chicago sub-thread. But good golly, the powers-that-were not only did future New Yorkers a huge favor by placing the subway underground…they also blessed them by doing the same with much of the city’s wires/cables (in Manhattan at least).”
I could not agree more. And, no, new developments are not required to bury the power lines. I have a new towhouse development in my neighborhood and they did not bury the lines. It makes the place so ugly. Seems that only highrises do this. Terrible on the part of Chicago, especially given the ice that causes power outages.
“Here, the wires are ubiquitous throughout the nicest residential neighborhoods, whereas the wires are scarce throughout the nicest parts of the UES/UWS, SoHo, GP, Chelsea and the E & W Village.”
Hey, at least our trash doesnt fester on the sidewalk. Tradeoffs!
There was an article in the Tribune a few days ago regarding burying power lines: http://www.chicagotribune.com/news/opinion/editorials/ct-edit-powerlines-20110622,0,7669045.story
Per the tribune article, “State law has long required that power lines be buried in new subdivisions.” I suppose it depends on what Com Ed/the city consider a “subdivision.”
“Hey, at least our trash doesnt fester on the sidewalk.”
Very true. Especially during strikes.
not burying power lines is completely stupid and anyone that hasn’t done so in the last few decades should be fined
with the amount of storms and ice and wind we get here there is no reason we should still be living in the 19th century with our power delivery
I agree with sidelined buyer. This is damn ugly.
Who stole HD’s computer and is posting as HD? Where did the real HD go?
“Where did the real HD go?”
Bought a house in Winnetka.
It is not the Sistine Chapel or Versailles however it is better looking in person.
Honestly, this looks like a pretty good deal to me. It’s a very nice area and a pretty good unit, too.
It will sell!
JP3 – funny you say that. I was actually thinking Sabrina’s picture made it look better. Those orange cinder blocks always really bugged me.
Am I right that this is actually a 2 bedroom and a den?
If so, why would you buy here when you could buy the same size place at the same price–with more green space–in Dearborn II? Maybe green space is just an issue with me, but Dearborn Park II has the same proximity to downtown, much more greenery, and at the same price? Is it the schools? Is South loop not comparable to Skinner?
I would pick Dearborn II over this, but I thought that area was more expensive.
“If so, why would you buy here when you could buy the same size place at the same price–with more green space–in Dearborn II?”
Can you? I like DP2. I thought it was pricier than this, especially a renovated unit comparable to this one and if you want to face away from state/clark (which is maybe an unfair comparison/requirement, but that’s what I’d want).
“I thought it was pricier than this”
http://www.redfin.com/IL/Chicago/1302A-S-Federal-St-60605/unit-A/home/14084310
Smaller, 1 car instead of two, but slightly lower ask.
Which makes it sounds like you’re right, DZ.
Now that Richie is retired I predict three things.
1. He moves out of D2
2. His police car is no longer in the area.
3. Issues and incidents increase in the area.
I’m not saying the West loop is better than the south loop in all things but I am saying that I much prefer the WL over the SL. Not as green and further from the lake but there are several intangibles that one can only appreciate from living in both. I have very good ties to both areas as my wife still has a condo in the SL.
The Dearborn II townhouse seems smaller overall. Being single, I would pick the dearborn II townhouse over this one, but if I had kids and a husband, I’d go with the west loop one.
“The Dearborn II townhouse seems smaller overall.”
I grabbed the cheapest one–and it *is* 20% smaller.
The power lines in question do not serve this development–they serve the adjacent buildings that are significantly older.
“The power lines in question do not serve this development–they serve the adjacent buildings that are significantly older.”
You are making sense. I’d like to subscribe to your newsletter.