Roscoe Village 2-Bedroom That Went Under Contract in Less Than 2 Weeks Closed: 2234 W. School
We last chattered about this Roscoe Village 2-bedroom unit at 2234 W. School in August 2009.
See our prior chatter here.
It was priced at its 2003 purchase price and went under contract within only 2 weeks.
It closed in September 2009.
The unit had all the “must-haves” for condo buyers in the neighborhood including central air, in-unit washer/dryer, stainless steel appliances, an updated kitchen and, most importantly, a deeded parking space.
It was also staged to sell- with virtually no clutter or large furniture.
Nick Kluding at Baird & Warner had the listing.
Unit #1: 2 bedrooms, 1 bath, no square footage listed
- Sold in August 2003 for $279,000
- Originally listed in July 2009 for $279,000 (parking included)
- Under contract within 2 weeks
- Sold in September 2009 for $276,000 (parking included)
- Assessments of $189 a month
- Taxes of $4282
- Central Air
- In-unit washer/dryer
- Bedroom #1: 12×11
- Bedroom #2: 11×9
- Living room: 19×12
- Kitchen: 15×11
1 bathroom? 225-250k would have been more like it
Simply claustrophobic.
wow that’s insane for a 2/1
And the buyer had a $35k down payment.
A quick guess. Assuming 20% down and 5% rate, mortgage plus taxes are around 1700 a month or so at that price minus assmts.
That’s getting pretty close to 2K a month for a nice little 2/1 in Roscoe Village.
err. plus assessments not minus.
It’s great to see a condo close within 1% of list price.
Having lived in RV for the last 8 years, I would say these people definitely overpaid in 2003 just for the benefit of having new construction. $250K or so probably would have been the norm at that time for a condo of this size with average finishes.
I think the $279k price is a bit steep for this… but I ain’t a fan of the 2/1 especially one this small without the full dining room.
Seems too expensive to me. There are so many options… not sure why the new buyer bought at this price. There is an emotional component to buying… so if the buyer likes the unit then maybe it’s “okay” they paid 15% over?