Selling 2 Years Later in Southport: 3842 N. Southport
These townhouses at 3842 N. Southport were new construction in 2006 and sold at the peak of the boom.
This 3-bedroom unit is one of the first re-sales in the complex.
What will these sell for 2-years later in a much different market?
Here’s the listing:
Located In The Heart Of The Southport Corridor Within The Blaine School District, This 2 Year Old Townhome Is In Immaculate Condition & Features A 2 Car Attached Garage, 3 Large Bedrooms Plus Den & Family Room.
Stunning Brookhaven Kitchen W/granite Countertops & Double Oven, Beautifully Detailed Natural Stone Baths-master W/whirlpool, 2 Decks, Custom Closets & Window Treatments. Perfect Condition.
Jeffrey Lowe at Century 21 Sussex & Reilly has the listing. See more pictures and a virtual tour here.
Unit #L: 3 bedrooms, 3.5 baths, 2650 square feet, 2.5 car garage
- Sold in August 2006 for $760,000
- Currently listed for $849,900
- Assessments of $107 a month
- Taxes are “new”
850K for 3br. what a steal. anyone know a good mortgage broker?
I’m going to take a wild stab at a guess here: It’s going to sell for LESS than $760K.
It really is a nice property, great location for young professionals starting a family. I don’t see this one selling for more than the original price.
ehh. for the original price you could do a lot better in Lake View.
believe it or not, many people with kids do still value having a yard.
this will be ignored for 90 days and they will figure out that they are 100k too high.
“this will be ignored for 90 days and they will figure out that they are 100k too high.”
Or that what they paid was $100k too high.
At that ask price this is the LOL listing of the day. Oh but it has granite countertops (!), thats a nice unique feature.
When you’re overpricing by this much, why not just ask for a cool $1 million? You never know, some New Yorker or Californian with more money than brains might think they’re getting the deal of a lifetime. Of course there will be lots of sellers competing for very few of these dream buyers.
I almost want to call these people and just laugh. I’m guessing something like $475,000 in late ’09.
Wow they bought at the worst time and are trying to sell at the worst time AND turn a 100k profit in 2 years.
I need to find the drug scene in Chicago because they must have some GOOD SHIT.
It is amazing how many property owners and developers are unable or unwilling to understand that now that the housing bubble has burst, they can no longer get bubble prices for their properties. The prices of condos, houses, etc. have to go back down to where the prices, adjusted only for inflation, were before the bubble started.
Or below that…
I have a question. Does anyone know what approximate new build costs would be per sq ft for a 50 story condo building in Streetervile/Riv North area?
Hey Ze – If you reduce your amortization period to 5 years do include the increased principal paid each month when comparing your rent vs own 🙂 LOL!!
what is amrt iz i ation mean? please stop using big words. When you talk to me keep it to a syllable or less. preferably less.