Housing Bust Deja-Vu? 2-Bedroom Short Sale in River North at 33 W. Ontario
This 2-bedroom in Millennium Centre at 33 W. Ontario in River North came on the market in January 2023 listed as a short sale.
Built in 2003, Millennium Centre has 363 units and attached garage parking.
It’s a full service building with 24-hour door staff, an outdoor pool, fitness center, package in-unit delivery service, bike room, and a party room.
This unit has a split floor plan with skyline views.
It appears there are hardwood floors throughout the main living space and the bedrooms.
The kitchen has wood cabinets, what looks like granite counter tops and black appliances.
It’s unclear if there is primary suite but there appears to be a walk-in-closet.
It has the features that buyers look for including central air and washer/dryer in the unit. There doesn’t appear to be parking with the unit but it’s available to rent in the neighborhood (and the building?).
This unit is in the heart of River North near Trader Joe’s, Jewel, shops and restaurants and will also be near the new temporary casino.
This unit has come on the market listed as a “short sale” at $425,000. A lis pendens foreclosure was filed on it in April 2022.
But the last sale, in 2010, was also a distress sale. The bank took back the unit in the housing bust, in 2009 and sold it for $309,000.
The 2010 listing said: “Great investment opportunity. Corp owned Property Sold “As-Is” Condition.”
Are short sales and distress sales about to take off in Chicago’s struggling downtown?
Richard Schiller at Baird & Warner has the listing. See the pictures here (sorry, no floor plan.)
Unit #33F: 2 bedrooms, 2 baths, 1295 square feet
- Sold in November 2003 for $565,000
- Bank owned in April 2009
- Sold “as-is” in October 2010 for $309,000
- Lis pendens foreclosure filed in April 2022
- Listed as a “short sale” in January 2023 for $425,000
- Central Air
- Washer/dryer in the unit
- No Parking
- Bedroom #1: 14×11
- Bedroom #2: 12×10
- Living/dining room: 16×15
- Kitchen: 12×7