Going Back to the 1994 Price in the Gold Coast? 1000 N. Lake Shore Drive
We last chattered about this 1-bedroom unit at 1000 N. Lake Shore Drive in the Gold Coast 11 months ago.
See our prior chatter here.
Back in May 2009, the unit was in short sale and had just been reduced to $159,900.
Several of you thought it would sell for $120,000 to $125,000.
The unit was since de-listed and is now bank owned.
It returned to the market in February at $135,000 and the bank has lowered the price every 30 days since then.
It is now listed for $114,900.
The unit has carpet. The pictures indicate that the kitchen and bathroom are still intact.
The kitchen has a white refrigerator and stove and a black dishwasher.
There is no washer/dryer in the unit and no central air. It has wall unit air conditioning.
Parking is available in the building.
Could this unit possibly return to the 1994 purchase price?
Arthur Cirignani at Chicago Realty Partners now has the listing. See the pictures here.
Unit #1007: 1 bedroom, 1 bath, 800 square feet
- Sold November 2006 for $176,000
- Short sale
- Originally listed in March 2009 for $179,900
- Reduced twice
- Was listed in May 2009 for $159,900
- De-listed in August 2009
- Bank owned in November 2009
- Originally listed in February 2010 for $135,000
- Reduced in March
- Reduced in April
- Currently listed for $114,900
- Assessments of $650 a month (includes water, doorman)
- Taxes of $2069
- No Central Air
- No in-unit Washer/Dryer
- Parking available in the building
Should be under contract to Dave right about … now.
Or he was “lying” in the prior thread.
Is it going back to 1994 taxes & assessments? Even if not I’d imagine some bozo will buy it near ask–too many people out there still who want to be homeowners who don’t understand the impact taxes & assessments should have on a real estate valuation.
ouch
What a dump.
But someone should bite at this price, just to be downtown- unless it can’t be financed. There is no financing available for many of the REOs I’m looking at.
I get chest pains every time I look at this building. Is the architect still alive? If so, he should be flogged.
If all residents, pets and employees of this train wreck would kindly vacate the building at say 7:00 tomorrow evening, perhaps the mayor would oblige me and remove this building (kind of a Meigs Field middle of the night type of operation). I’d be most appreciative and promise to provide the beer.
When people ask me where I live, I tell them I live in the eyesore on LSD and Bellevue. People always know immediately which building I’m talking about.
This is a poorly maintained building with a very weak Board and a mountain of mid/long-term problems (i.e., windows). I rent here b/c a short sale fell through and I needed a place to live ASAP. I wouldn’t buy here.
This is the ugliest of ugly 60s buildings. And a total craphole mechanically. The units are worth $0 once you factor in all the problems.
Little Bombay – looks like a third-world residential high-rise building exterior, poorly constructed, poorly maintained, slightly tilting to the left.