River North Three Bedroom Condos For Under $600k
A few weeks ago a post about whether a 3 bedroom unit in The Sterling priced at $725,900 was a “deal” for 1900 square feet in River North sparked some discussion.
It seemed cheap for the square footage and the location.
But there are some other units in River North that put The Sterling three bedroom to shame in price.
The Grand Orleans at 330 W. Grand was built in 2005. The 21 story tower has 98 units ranging from studios to three bedrooms. It has 9 foot ceilings, standard finishes of GE stainless steel appliances and hardwood floors. It wasn’t marketed as “luxury.” But then, neither was The Sterling.
There are two nearly identical 1800 square foot units on the market that would make you think twice about ever buying that unit in The Sterling. And the building (so far) doesn’t have the problematic foreclosure issue. The building also has deeded parking available.
Unit #2002: 2 bedrooms, 2.5 baths, 1800 square feet
- Sold in January 2007 for $577,000
- Currently listed for $589,900 plus $30,000 for parking
- Assessment of $1,156 a month
- Dream Town Realty has the listing
Unit #1202: 3 bedrooms, 2.5 baths, 1800 square feet
- Sold in June 2006 for $547,500
- Currently listed for $520,000 (I don’t know if that includes the parking spot or not)
- Assessments of $952 a month
- Prudential Preferred has the listing
Does anyone know why the assessments are so high? That is unusual for a building that is relatively new.
The building is OK. OK location, OK finishes, OK prices etc. The Assessments are very high for a new building. I think it is because of the small number of units and the full time doorman