Ravenswood 2-Bedroom Short Sale Reduced $30K: 1625 W. Ainslie
We last chattered about this 2-bedroom at 1625 W. Ainslie in Ravenswood in May 2010.
See our prior chatter and pictures here.
This building was converted into condos in 2007 and has all the bells and whistles of new construction including stainless steel appliances and granite counter tops in the kitchen.
This unit also has central air, washer/dryer in the unit and parking is available for purchase.
It is listed for $74,000 under the 2007 purchase price.
Is this now a deal?
Joe Green at Keller Williams still has the listing. See the floor plan and more pictures here.
Unit #3W: 2 bedrooms, 2 baths, 1090 square feet
- Sold in March 2007 for $359,000
- Lis pendens foreclosure filed in December 2009
- Was listed in May 2010 as a “short sale” for $300,000 (parking is $20,000 extra)
- Reduced
- Currently listed as a “short sale” for $270,000 (parking is now $15,000 extra)
- Assessments of $120 a month
- Taxes of $4310
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 14×13
- Bedroom #2: 12×10
- Den: 10×9
I think if the buyer could get parking included in the $270k (and the bank will actually agree to the sale), this is now a pretty reasonable purchase.
Someone paid 360k for this? Ouch
“parking included in the $270k (and the bank will actually agree to the sale), this is now a pretty reasonable purchase”
Agreed, with the added “agree within a reasonable period–like less than 60 days”. The harder it is, the bigger the expected discount.
Is that the hallway or the living room?
I agree: 270K with parking may move it. The layout/ befuddling is a cheap mess.
“Is that the hallway or the living room?”
That *is* the worst of the pix of the living room.
Yeah, that’s a bad photo. I had the same “hallway” thought, but looking through the other floorplan photos, it’s not that bad.
I actually really like this place — seems like a fair price for a 2+den in that location.
Decent place
for a short sale, id want to see more like 225,000
RE: taxes
ok guys how does this work? Is it a specific percentage of asessed value? It seems like there are lots of SFH w/ lower taxes than this condo.
I think the layout leaves a bit to be desired, but yeah, the living room isn’t as bad as that photo makes out.
“ok guys how does this work? Is it a specific percentage of asessed value? It seems like there are lots of SFH w/ lower taxes than this condo.”
It’s complicated. The taxes are based on “assessed value”. Over the last couple decades, AV had become detached from actual market value. The most recent reassessment, the assessor adjusted AV to be 10% of “market value” for residential properties. This is *going to* result in a shift of tax burden from commercial/industrial properties to residential properties, at least for this year.
From AV, an “equalization factor” (which varies every year) is applied to give “equalized assessed value”. The EAV for the entire taxing authority (city, county, school district, special district) is toted up and the rate per dollar of EAV for all subject properties is determined based on the relevant budget request–thus the “mill rate” is determined. The mill rates for each of the taxing districts are toted and applied to the EAV for your property, creating your tax bill.
Newer properties had been assessed at higher valuations, and appeals are based on comps within property types, which includes size, building type and age, so you wouldn’t get anywhere comparing a brand new condo to a 70s-era one or to a SFH, nor a smaller SFH to a larger one. The land has been radically under-assessed relative to the improvement.
All that ends up with a tax that, last year, was around 1.25% of peak values, with newer props somewhat higher and older props somewhat lower (much, much lower for those with Senior/Long-term Resident Freeze).
At this rate three more price reductions and the parking will be included for free.
thanks Anon (tfo) it is so confusing when looking at the listings.
I’ve been in several units in this building since the conversion. The original purchase prices were pretty outrageous even for the boom.
The layout for the money is not bad. The home has really great tree lined exposures (northwest corner), has a nice airy feel. Very nice master suite for a conversion at this price. I suspect (and I have no empirical data) that the buyer of this unit will have to factor in high maintenance costs for the building. My opinion of the work here has been “okay” at best. Roof, tuck-pointing, interior trim and drywall taping etc… have to watch this stuff. The owners will have to be aggressive and take care of the common areas which is not always the case as we know.
Overall though, it’s gonna get close to renting for a pretty nice top floor unit. If you budget for specials, this will be an affordable home in a great neighborhood.
Short sales are a deterrent for most first time buyers once they realize there are no guarantees on acceptance, especially if two lien holders have to allow the sale. I just had a buyer client bail on a short sale condo where the sellers decided to declare bankruptcy after we had a deal and were waiting for lender acceptance. Problem is, nothing looks as good to that now unrealistic deal!
Uptown.
It kills me. The LR “isn’t as bad as” and “not that bad.” How can anyone buy it if the main room is even semi-bad? Yuck on this one from me.
“The original purchase prices were pretty outrageous even for the boom. ”
Its funny I never remember a Realtor(tm) ever making such a statement during the boom.
Deals will soon be everywhere. Eric, volume will return at lower prices and you’ll have more deals that actually close. Few of the RE contacts in my office actually close too right. Ow.
Bob,
I did say conversions were a premium in price and flooding the market in 2006 on my blog:
http://chicagorealestatelocal.blogspot.com/2006/07/new-or-not-new-that-is-question.html
I also reference in that post other writings where I suggest buying a re-sale rather than a new conversion, new construction unit.
And now you may gloss over the folowing…
You will have to work with me or speak with past clients (of which there are many) to decide if I look for the best values for clients within their means and wants… boom or no boom. There’s actually a mini-boom now in Lake View, Lincoln Park, Northcenter, Lincoln Square etc.. in multi-units where we lost a great building in multiple offer on 2240 West Giddings, a block from Giddings Square (we were the first of three groups only to see, I told my clients to be “ready to write” before seeing it… all three parties offered), and just killed another multi-unit deal at inspection (same client) this morning with my referred inspector. Just looking for a good value with the particular buyer. Same in the bubble. We don’t “sell” anything really. We broker and consult for willing parties, ad value where they need it.
I will go out on a limb and push a good value to buyers like on the two flat on Giddings. Seriously, they should have put an offer in before seeing it as it went over list with only three showings allowed on one day. That’s what it takes for the best deals. I can’t say I could predict the type of price drops from 2006 on many units clients bought, but I stress value the best I can in the current market.
Specifically, I’ve tried to persuade clients on several occasions during the bubble (and now) to buy a re-sale unit rather than a new conversion like the development above (especially in 2006 Rogers Park where I wanted a couple to buy an established two/one second floor unit with rental parking secured rather than a new conversion 2/2 GARDEN with assigned parking in a worse location). They chose the conversion and it’s not good.
As stated, I showed this building above to clients during it’s conversion with the original listing agents (and I remember the conversation we had about the poorly executed black stained floors).
I can’t put everything I do and say… and how I advise clients… on the blog. It’s not good to the client relationship. And, I come across as trying to be the hero or know-it-all like some lame Realtor blogs where they are the BEST and everyone else is an idiot. Plus, everyone’s different and has different risk tolerance, money, needs, wants. Some people with a ton of dough may still “over-pay” a little if there is just no other inventory to match what they want. Take those one bedroom units that CC has featured in the $600-700s. But, do know a good Realtor plays devil’s advocate then the client makes the decison for themselves.
homedelete,
Sorry to brag here, but what the heck?
I’m closing more deals now than in 2006, 2007 and led my Lincoln Park office at Prudential Rubloff on Halsted (a large office) last year in units closed for a “non-team” agent. Lending and short sales last year were a lot tougher. I’ll surpass my units closed in 2009 this year by end of September and have found lending reasonable… I have offered on few short sales this year, but lsiting a couple (and poentially listing a couple) told me it’s still a 50/50 proposition if a deal will be ALLOWED to get done. The bankruptcy thing while my client was under contract on a short sale was a new one for me!
I hope your prediction is right and I’ll have more deals close as things even out.
Eric:
How much does other agents quitting the profession play in you having more closings? I’m not saying it does- but just wondering if it does. Because clearly the number of closings in the city is down something close to 50% from 2007. But I’ve noticed the better agents getting more and more listings. Is that because other agents have dropped out of the game or because sellers are turning to the top agents because they know they’ll help them get it sold?
Hi Sabrina,
I know numbers are down in the Chicago Association of Realtors. But I imagine many of those agents were low volume and many in different markets thann mine.
Each year the volume of my “leads” increase in accordance with continued marketing and increased referrals and I’m better at understanding what it will take to buy or sell a home for clients. My actual unit transactions have increased. Combined with fewer transactions in the Chicago market, my market share has really increased.
Many good agents (work hard, market, communicate well with clients, set expectations, provide resources, solve problems) have different business models that keep them sucessful. I think people are really vetting thier agents now and need to know the truth. Top Realtors/Brokers are not afraid to set the proper expectation and they present a plan.
While not addressed at me Sabrina, I have noticed a huge increase in sales by those RE agents who managed to stay in business during this crash.
I too was left asking the same question and think it is a combination of both causes you mention.
It is not that these successful agents magically increased their knowledge or sales procedures, it is just that with fewer players in the game naturally the business they do will increase.
This is not to take away from Eric at all as I have heard from many sources that he is indeed a fair and honest agent and is a pleasure to work with….and have met him on a couple of occasions.
I agree westloopelo,
big and small agents sticking around working hard have seen good results. Take Mario Greco, that guy has a large team (15-17 people) and his group’s sales are stated to be up 60% over same time last year (not sure if that’s volume or transactions) but either way, big increases.
Eric (or anyone)
I wanted to get your opinion on the future of real estate agents. Because access to information is so easy, is it really necessary to have real estate agents anymore? In my experience (especially in high end real estate where the buyers and sellers are educated, smart, successful) real estate agents only added an extra layer of confusion/distraction. I do think they are necessary for first time homebuyers or people who are a little slow, but for the more sophisticated buyer, they are totally unneccessary.
I look at the successful agents in OB/Hinsdale and have to laugh. These are bored housewives who made millions and think that they have great sales techniques, etc. – but in reality, in this area, the house (and neighborhood) sells itself.
“but for the more sophisticated buyer, they are totally unneccessary”
I can’t speak for Eric or any of the other realtors out there- but in my experience from running this blog it’s the upper bracket that really needs agents most of all (especially to sell a property.) They have NO idea what to price at and are totally unrealistic about how their property stacks up against the competition. They also have no clue on how to market a property in a competitive environment.
Just my two cents. But I would love to hear from agents who are on the front lines with this.
The top Chicago agents are well worth the commission.
“Take Mario Greco, that guy has a large team (15-17 people) and his group’s sales are stated to be up 60% over same time last year (not sure if that’s volume or transactions) but either way, big increases.”
This is what I was referring to Eric. I see the same agent’s name (like Greco) on more and more properties as the weaker agents drop out or simply can’t compete. So it’s not like there are more transactions (because there are not.) It’s just that the majority of the transactions are going to fewer and fewer agents (so their transactions are picking up significantly- like you said yours were.)
Greco has 15 people on his team now? Wow.
There is a lot less competition…let me rephrase, there is hardly any competition. On the mortgage side, those of us that stuck through it are doing VERY well right now. The common thread is that those that were at the top in the boom years for the most part are still at the top and really haven’t seen a drop in income at all.
The pie is smaller, but we are all getting a bigger piece I guess.
Residential real estate suffers from low barriers to entry and when the market is booming, anyone can get in the game and earn a good living. When the market slows, the cream truly does rise to the top.
There will always be a need for good agents. Yes, anyone can sell or buy a property on their own, but I believe good agents are worth it. Some of the worst disasters I have seen are with FSBOs or when buyers try to go it alone. Most know less than they think from what I have seen.
Cue sarcasm and rant…
No need for real estate agents blahh, blahh. blahh. I’ve read freakonomics too and this is a tired argument.
No need for financial advisors, accountants, travel agents, IT guys, whatever you can buy a turbo-tax type program for.
The real concern is what does the market need. What do people need and want? How do you meet the demand?
People will hire and pay for any service they want or feel they need and get a benefit from, netting time or money. Hell, I’m glad to have a good car salesman who could weed through the junk and call me when a good used model came in. I didn’t have, or didn’t want to take the time to watch like a hawk, go test drive, deal with a bunch of car dealers, get the car checked out etc.. My guy just got it done and I have a nice car.
The more information out there on the Internet the more people are asking me questions or just shutting it out. My clients use me to fact check information they hear and what they see on the Internet or wherever. Any consultant, broker, agent, business person needs to add value where the client needs value. Some of clients never even get in my car and get driven around (the only thing we actually do, ha). Some, I barley have time to buy them a coffee because we landed a deal immediately.
A lot of first time buyers like to work with agents. So do investors who need someone on the ground. So do move-up buyers who are selling a condo to buy a house (because they are clueless about owning a house). They like their agent’s attorneys, contractors, problem shooting. With good agents in any business, it’s not just the transaction which agents are very helpful and skillful, it’s lots of other consulting before and after owning the property that people value. Out of state buyers and sellers, those on tight time frames etc and so on…
One example of value add is I’ve many times preformed in depth market analysis to help clients refinance (or not refinance) their homes. I end up saving them appraisal costs and money on their mortgage with the reccomendations I provide. I’m also a filter to go out and get answers so they are not getting “sold” by a service provider.
Here’s the awesome thing about MOST of the unrepresented buyers that call us for a property showing when buying themselves without an agent. First, I ask if they are working with an agent. It’s either “no” or some story that they had one and now “no” or their agent is out of the country. If the “agent” is out of the country I ask they have the agent make the appoinment or they will not be de a commission… suddenly, they are not really working with an agent.
When I ask if they have a mortgage pre-approval or if they are a cash buyer, they usually either say “no” right away or they launch into some story and ultimately say “no”. Or they “had one” 6 months ago but they don’t know from who when I ask. Again, most of the time, a self represented buyer calling us does not have a pre-approval and can’t answer a straight up question concerning their ability to buy a home.
Our clients know we will not show properties to unrepresented or un-approved inquiries that are cagey on the phone. On the other hand, we’ve brokered a few properties to unrepresented buyers that were honest and approved, which is our goal because we generally make more money. Two properties were those that I advertised before hitting the MLS and received the whole commission.
I agree some agents are terrible to work with. Don’t work with that agent.
So, whatever.
but in my experience from running this blog it’s the upper bracket that really needs agents most of all (especially to sell a property.) They have NO idea what to price at and are totally unrealistic about how their property stacks up against the competition
ARE YOU KIDDING ME?!!! Seriously… you obvioualy have no clue as to what you are talking about. People w/money are not that stupid and don’t need some stupid realtor to tell them what property to buy (OK I know that that realtor everyone loves went to Yale – but whatever – seriously what a waste of an education. Seriously, it doesn’t matter how much money she is making (so are a lot of porn stars)- she is the secret butt of all jokes and will NOT be invited into the inner circles of society – and if you think differently, you are all extremely stupid and ignorant. Actually, she knows it and makes fun of it herself – and for that I congratulate her!!!!
but in my experience from running this blog it’s the upper bracket that really needs agents most of all (especially to sell a property.) They have NO idea what to price at and are totally unrealistic about how their property stacks up against the competition
OK – obviously I went off topic on that last post – but seriously Sabrina, you obviously have no clue as to what you are talking about. Do not insult us by saying that the people in the upper bracket need agents more than anyone and have “NO idea what to price at” – seriously, stop the idiotic rich bashing. We are a lot smarter than you give us credit – seriously, you HAVE to be better than this…..
“People w/money are not that stupid and don’t need some stupid realtor to tell them what property to buy.”
Time is money, Clio. Many wealthier people have no idea which neighborhood to buy in, where the good school districts are, which are the “best” high rise buildings etc. etc. And so they hire someone to figure it out for them (as Eric explained.)
And, yes, when listing their houses for sale- in my opinion- they’re among the most clueless as to what it should sell for. I don’t know why.
Actually, Sabrina, most rich people I know are NOT selling right now. Maybe the people you are describing are actually “posers” who pretended to be rich and now can no longer afford to keep up the facade!! Remember, to be classified as “rich” you absolutely HAVE to have at least 10-15 million in assets. If not, then you are a poser.
I just looked at the photos for this again as I have a couple people looking in the neighborhood and there is NOTHING new or exciting hitting right now (I’ve shown this unit in the past).
This place showed a lot better then the photos. The home feels open and airy and the master is a good size. Not a great place due to some of the concerns I’ve already written about, but better than the photos. I might even try something different and pull the photos or re-shoot only a couple to capture the exposures.
Um, Clio – many wealthy folks have little to none of their portfolio in real estate. Also, many people, wealthy or not, make a better return on their time with other activities, especially when a learning curve is involved (RE in general or for a specific market) – a simple case where a real estate agent can add significant value. I would also argue that the high end of the market requires more expertise because there are far fewer direct comps and a far smaller base of potential buyers. You are obviously feasting on nectar and ambrosia, so this naturally does not apply to you in the pantheon of rich real estate gods.
I agree with Sabrina in that wealthy people DO need a RE agent more so than lower income individuals as the amount of $$$ spent is greater and there is more of a risk involved, esp today.
I find it very surprising and ignorant of you to come on and bash the owner of this blog over her EDUCATED opinions. After reading her blog for over two years, she does indeed have a very good grasp of what is going on in the RE Industry not only there in Chicago, but across the nation as well.
“Actually, Sabrina, most rich people I know are NOT selling right now.”
And she did not, anywhere, say that richer people are selling right now! In your poor attempt to discredit her, you went inside your own mind and made up this comment.
Really now, who are you to determine who is rich and who is not? $15 mil+ in assets to be considered rich? LOL OK, whatever you say!!
Funny. I liked you better when you were bragging about your imaginary riches and cars…your pretend world is more entertaining.
Sorry, didn’t mean to bash anyone at all – I was a little too
“aggressive” with my words – my point was that, because information/data is so readily available (regarding comps, home sale prices, maps, etc.) does ANYONE really need real estate agents? The people who post on this blog probably know more about real estate than most agents. I am sure most people on this site scour the MLS and listings and can find the house they want by themselves. All the realtor has to do is let them in and show them the place, make nice conversation and file some papers. At the same time, if people are selling, they can figure out how to price their house by themselves – it’s not that hard. I really think that realtors are going to become more scarce in the future (not soon enough for me!!).
“will NOT be invited into the inner circles of society”
clio, most of us are unawares of this Skull & Crossbones super secret society. But we are aware that you are a flaming DB..
OK – I deserve that. My posts on this thread were idiotic and written when I was obviously inebriated – for that I apologize. Now let’s please drop it and move on…..
I’m looking for a broker recommendation for the Oak Park/River Forest area. Any suggestions? Looking through the local newspaper, there are many local agents but not necessarily agents who can deliver a viable buyer and close sale.
“…..there are many local agents but not necessarily agents who can deliver a viable buyer and close sale.”
I have heard several claims of agents who have a “90% or higher closing rate” but never understood what does the real estate agent have to do with the actual closing of a sale. The closing of the sale is usually contingent upon securing financing, inspection, deed clearance, etc. etc. – the agent has very little to do w/ these things. Is this just another ploy to trick people into using a particular agent?
“I have heard several claims of agents who have a “90% or higher closing rate” but never understood what does the real estate agent have to do with the actual closing of a sale. The closing of the sale is usually contingent upon securing financing, inspection, deed clearance, etc. etc. – the agent has very little to do w/ these things. Is this just another ploy to trick people into using a particular agent?”
One can assume that the agent has some influence into that, IE checking on liens, association issues, researching comps to see if the price is on the level, etc.
“I’m looking for a broker recommendation for the Oak Park/River Forest area. Any suggestions? Looking through the local newspaper, there are many local agents but not necessarily agents who can deliver a viable buyer and close sale”
i am not going to name, names but on the open houses we hit in RF one agent was the typical Housewife with nothing to do and husband had connections and she was…well…she was very nice and i can see her socialite ways helps her sell not her knowledge. the other was a “family team” and to us was disconnect from reality but knew its architecture and styling cue’s but was a loss about the market aspect.
but if your shopping for an agent there you will know who i am talking about and most likely come to tthe same conclusion
I’ve met several local suburban agents when we bought house, unimpressed by way either buyer or sellers were served then. We want to downsize from our “4 bedrm/3.5 bath” and exit RF (by next two years), but it appears that many of our neighbors want to do so too.
Arc,
did you see that short sale over there? i know i did, and i know i got the time to wait and wont be a loss if bank wont approve it 🙂
quick question i dont get why the steep price difference once you cross lake?
asked one of the above agents, answer was “i want to stay in between lake and chicago”, that all i got!
Below Lake was traditionally a slightly less expensive residential market, though there are number of tear-downs reconstructions and old victorians that don’t fit that profile. “Tracks to north Lake” band contains a variety of apartments, condos, and townhouses, as do Harlem and North Avenue frontages, with North Avenue and northerly Harlem containing some lower-end affordable rental housing. Between Lake and Chicago, there are mostly older homes, built between 1890s and 1930ish, some somewhat affordable now and some very expensive. Between Chicago and half-block south of North Avenue (except Bonnie Brae), there is a consistent band of high-end expensive residential houses built mostly from the 1930s onward, mostly consisting of 4 bdrm/3bath houses, with some much larger homes between Chicago and Greenfield. Dominican and Concordia college campuses are within that band, as well as Fenwick fields, Trinity HS, and many churches. No wonder taxes are high.
There are several “good deals” for River Forest right now. Are you talking about the $1 million lender-owned house? The moldy Lathrop house just went under contract, but that was a tear-down for sure.
Houses range from original condition to showroom ready, depending on your taste and pocketbook.
“There are several “good deals” for River Forest right now. Are you talking about the $1 million lender-owned house? The moldy Lathrop house just went under contract, but that was a tear-down for sure.”
new one on Forest priced for a bidding war and short sale. We had our eye on 607 monroe for a bit but the bedroom 1bathroom layout made us gun shy. Have you been in 706 lathrop yet? i love it (cant afford it)!
all the others i our price range are in need of major overhauls, which the older groove in me doesnt want take on. And with the taxes, going any higher in price is too much.
I too believe clio was more funny bragging about imaginary riches than asserting expert real estate knowledge.
Pete,
I’m not a real estate expert by any means – all I am doing is trying to relate my real estate experiences to the issues at hand (as I have owned dozens of properties and been involved in dozens of real estate transactions over the past 15 years).
Oh, and in terms of the “imaginary riches”, you can believe whatever you want – but on what are you basing your disbelief? Do you not think there is anyone out there w/money? Or do you think that someone w/money wouldn’t be on this site? Either way, you are wrong – I gave everyone enough information to verify/confirm my claims. Some did and realize that i am not making up anything.
But let’s try to keep the discussion about real estate and not about me.
Groove: have you looked at 1414 Monroe? That’s a nice block, and the house looks solid, attractive, and immediately liveable. Just needs better decorating.
Arc,
no we havent, we havent looked at anything north of chicago ave per agents “RF insider knowldge”. its a shame we followed that advise last year.
but we will not now, the place (from pics) looks solid cant tell but it would sem the elec from the age of the updates will need to be upped to 220?
next open house we will be there, if you go too we will be easy to spot, say hi.
Groove: don’t know your price range, but that realtor’s advice was plain stupid. Was this realtor the “restoration lady” peddling her own restoration work? Many of the best houses are north of Chicago Ave. Go drive by 1414; it’s likely an estate sale. “House bones” and yard look great; it may have updated electrical because kitchen looks 1980ish, but updating incoming service isn’t expensive work – we’ve done it elsewhere.
Groove: check out 7918 Oak too if you like mid-century modern.
“don’t know your price range”
for burbs with “ouch that hurts but schools are worth it” taxes i would need to stay 500k and below. i would also need to sell my place a smidge above market to be “ok”.
the two places in galewood we recently saw would allow us not to worry if we sell or not, but might require us to go private. Wifey is getting in good with the principal there to see if a turn around can happen to save from going private and bieng in galewood would save on everything until HS 🙂
the place in Old Norwood we checked out/liked a lot would most likely be the house we would retire in so no moving when HS comes around.
“but that realtor’s advice was plain stupid. Was this realtor the “restoration lady” peddling her own restoration work?”
know havent yet met her, but heard a comment that might be directed toward her at a open house from the “family” agents.
“it may have updated electrical because kitchen looks 1980ish, but updating incoming service isn’t expensive work ”
I dont touch electrical myself, had a “incident”, so i always pay someone to do it. its as bad as paying someone to replace a ceiling fan, i am that scared now.
“check out 7918 Oak too if you like mid-century modern.”
out of price range 🙁
Groove: the RF estate sale houses are likely highly negotiable in price as their listings age, and there’s a lot of inventory here. There are a couple other solid post-depression colonials north of Chicago that are priced closer to your mark. Dated interiors target houses that are likely good deals.
“Dated interiors target houses that are likely good deals”
i dont mind dated, and would rather have a old kitchen as we would gut it anyway, i just dont want to do more than the kitchen and little updates (would rather not do anonther bathroom remodel). the older i get the less i want to “swing a hammer”.
now if i went galewood i could just write a check and things would magically appear. if i bump up to RF i will be swinging the hammer myself.
“the RF estate sale houses are likely highly negotiable in price as their listings age”
I have heard this in the northshore is estate sales on the market for a year will end up taking the latest low ball offer just to get their inheritance money.
have buddy who got a estate sale in glencoe for dirt cheap as the kids just wanted just “be done with it”. Its been 4-5 months and he is still updating it. i helped him rip carpet and sand floors. OH gosh the wallpaper the wallpaper, i still have nightmares. so glad its not my place. but when he is done in 2012 🙂 its a soild home on a great property.
This apt has now been reduced another $25,000, to $260k with parking included. So I guess 270 w/ parking did not do it, pace earlier commentators.
looks like its on at 260 10K for parking on redfin…
now 250, parking included. how low can it go?
Roma: It looks like this was just withdrawn from the market. So we’ll have to see if it comes back on the market as something other than a short sale.
250 but now address is 1627? The pics are all the same but listed as 3 bed noting no closet in the den.
http://www.redfin.com/IL/Chicago/1627-W-Ainslie-St-60640/unit-3/home/39515664