Looking for a 1-Bedroom Gold Coast In-Town Under $130K? 40 E. Delaware
This 1-bedroom at 40 E. Delaware in the Gold Coast has been on the market since July 2010.
In that time, it has been reduced $109,100.
It is now listed just $24,900 over the 1997 purchase price.
Yes, it’s a short sale.
The unit has amenities buyers look for such as in-unit washer/dryer and central air.
Parking is rental across the street.
It has french doors leading to the master bedroom and an all-white kitchen (including appliances) and bath.
The unit has no views as it faces north and is now blocked by the Elysian.
But it does have the same location as the 1-bedrooms in the newly built 10 E. Delaware which have been selling over $500,000 (yes, they’re bigger and have parking.)
Is this a screaming deal for someone looking for a weekend place in the Gold Coast?
Evelyn Fred at Jameson has the listing. See the pictures here.
Unit #404: 1 bedroom, 1 bath, no square footage listed
- Sold in January 1997 for $105,000
- Sold in February 2001 for $168,000
- Sold in September 2001 for $185,000
- Sold in December 2003 for $170,000
- Sold in March 2005 for $194,500
- Originally listed in July 2010 for $239,000
- Reduced numerous times
- Was listed in March 2011 for $169,900
- Currently listed as a “short sale” for $129,900
- Assessments of $481 a month (includes doorman, cable)
- Taxes of $2639
- Central Air
- Washer/Dryer in the unit
- Rental parking nearby
- Bedroom #1: 11×13
- Living room: 19×17
- Kitchen: 10×7
Much better than I was expecting. Great buy for someone sending their kid to Loyola or for someone just out of school.
This is a good price. Rare these days.
I’ll be shocked if this goes through as a short sale near this price. I see REO in this ones future.
WOW but this is cheap. Very attractive modern apartment in top location for very low price.
Even considering the HOA, which really isn’t bad for what it includes, and the taxes, this is a good deal. A true rent saver. What would this rent for, about $1400?
These rent for 1400-1500.
Lame building though. Glorified dorms. No pool deck, no balconies.
wonder if it had a bit of a view before elsian went up
Some of the 1 bedrooms have balconies but those face into the Elysian now.
These used to go for 250-289K back in the day.
I was seriously considering buying this unit (in preparation to downsize from my in-town)- however, when I looked at it, it really did seem like a glorified hotel room/suite. When I figure that I would be paying 800/month (after paying 130k cash for the unit), I thought that it just wasn’t worth it – I would rather spend more money and stay at a hotel – or just keep my current place. This place would be great for someone that wanted that gold coast location but wasn’t too spoiled or concerned about the unit itself (ie, they spent a lot of time in the area but only used the place to crash).
short sale… so uh, dream on with that price
you can “buy it now” for 169k though, still a decent deal I guess
Clio,
Is your unit listed yet? Is it the 2 bed 2.5 bath 1550ish sq ft or the 1800 sq ft 2/2.5 or larger?
This is no deal. Its only a matter of time before these small dormlike one bedroom sell for less than $99,000.
I appreciate the honesty in the agent’s description regarding the view.
It seems relatively nice for the price, but I need parking.
if this really rents for 1400-1500 and you can buy for 1200, remove your interest rate risk and get paid 3000 a year to wear maybe 20 percent price risk…
they leave excel off those law school computers?
This doesn’t look that small to me. I think anything under $150k would be a steal.
David – not listed yet – when I bought, they told me it was 1800 sq ft but there is another same tiered unit on sale which states 1500 sq ft – so basically, i have no frickin clue……..
Good price but dull.
Great place for a student. Makes more sense than staying in a dorm or renting a place.
What do all these suburbanites do “in-town” with their in-towns?
How many martinis can you drink a month? What else is there to do in this location but eat & drink at bars? Hell, pour yourself two 6 oz. martinis at your home, that’ll take the edge off, and it’s a helluva lot cheaper than $2,000 per month.
They use it as a “place to crash” while attending Blues Fest, Taste, and other multi-day events, and find it easier tjan dealong with a hotel or late-night commute home.
And of course if it’s the first week of Feb. 2011 and someone was working downtown…
“What do all these suburbanites do “in-town” with their in-towns?
How many martinis can you drink a month? What else is there to do in this location but eat & drink at bars? Hell, pour yourself two 6 oz. martinis at your home, that’ll take the edge off, and it’s a helluva lot cheaper than $2,000 per month.”
A lot of people that are buying ‘ in towns ‘ aren’t really worried about the cost.
‘What do all these suburbanites do “in-town” with their in-towns?’
Whatever they do, they help buildings like these remain ‘alive’.
they go shopping at the gap