Selling a Southport 2-Flat 14 Months Later: 1529 W. Roscoe
This 6-bedroom 2-flat at 1529 W. Roscoe in Southport came on the market in August, just 14 months after it was previously purchased.
It is an 1887 Victorian and each unit has 3 bedrooms, 1 bath. There’s a 2 car garage.
The first floor unit has refinished hard wood floors and stainless steel appliances. The listing says you could duplex down into the basement.
There is no central air, but there are 2 washer/dryers in the basement.
The first floor unit appears to be rented for $1400 a month. The listing says “rents could be higher.”
Does this make sense for an investor?
Paul Thompson at Baird & Warner has the listing. See the pictures here.
1529 W. Roscoe: 6 bedrooms, 2 baths, 2 car garage
- Sold in June 2008 for $550,000
- Originally listed in August 2009 for $595,900
- Reduced numerous times
- Currently listed for $519,000
- Taxes of $8986
Rnts cld be hghr, prcs cld go lwr!!!
The picture of the sad little oven in the corner made me tear up a little.
$349K? Yucky.
“Does this make sense for an investor?”
If both units were as nice as the nice one, maybe, barely. As is, nope.
Can’t believe it’s back on the market with a higher asking price. Was at $495K, now at $535K! Nicer 2 flat on Roscoe just sold for $405K.
The neighborhood is amazing. I looked at the property first hand, it has new roof, new boiler, recently painted a light grey and has been in the same family since it was constructed back in 1887. Maybe not for an investor but to turn this around into a single family is a steal in that neighborhood! The kitchen is huge!! thats why the stove looks alone…Id make an offer but Ive been transfered to NC and taking my wife and daughter. 2 blocks from the el and the amazing Southport family friendly neighborhood.
“Maybe not for an investor but to turn this around into a single family is a steal in that neighborhood! ”
Would you do the work yourself? If not, please post the contact info for your contractor that would do a nice, complete conversion, reasonably quickly, for under $250k. He’d have a customer.