This Jr 1-Bedroom is Listed as a Short Sale at $160,000: 450 W. Briar in East Lakeview
This 1-bedroom in 450 W. Briar in East Lakeview came on the market in December 2022.
Built in 1969 (although some listings say 1968 and others say 1972), 450 W. Briar has 142 units and an attached parking garage.
It has an exercise room and a rooftop pool. The building was converted to condos in 2005, during the housing boom.
This unit is a junior 1-bedroom which is 475 square feet.
The living room and bedroom have hardwood floors and the listing says there is new tile in the kitchen.
The kitchen has wood cabinets, stainless steel appliances and granite counter tops along with a breakfast bar.
The listing says it has new track lighting and outlets and has been painted before listing.
It has wall heating/cooling, no parking and no washer/dryer in the unit. But some units in the building DO have it in-unit. There is a laundry room in the building.
It does not have private outdoor space.
This building is near the shops and restaurants of East Lakeview, including the Mariano’s, as well as Belmont Harbor and the lakefront trail.
Listed as a short sale in December 2022 at $160,000, that’s just $5,000 more than the 2009 purchase price of $155,000.
Is this a deal?
Ryan Kissinger at 33 Realty has the listing. It appears to be agent owned. See the pictures here. Floor plans are available if you google the building.
Unit #4L: 1 bedroom, 1 bath, 475 square feet
- Sold in October 2005 for $355,000 (typo? Really $155,000?)
- Sold in February 2009 for $155,000
- Listed in December 2022 as a “short sale” at $160,000
- Assessments of $292 a month (includes exercise room, exterior maintenance, lawn care, scavenger, snow removal, pool, laundry room)
- Taxes of $3017
- No central air but wall units
- No washer/dryer in the unit but laundry room in the building
- No parking
- Pets allowed
- Bedroom: 7×14
- Living room: 10×17
- Kitchen: 7×11
I was about to say no deal until I saw the Motel 6 AC unit with sophisticated chips.
Someone from Iowa will snap this up to get that Big City Life
Is ELV not HAWT(tm)?
Buying a place like this is a very poor decision and very depressing
There isn’t much in this price range in 60657. The tough part for this unit is that it is either a temporary living arrangement (can’t recoup transaction costs) or a rental investment, so the price although reasonable, is high for both of those situations.
No in unit laundry and no information on parking make the unit less desirable. The unit has narrow rooms, but has large windows. The monthly fees are very reasonable, nice location, and good building amenities.
“Sold in October 2005 for $355,000”
The transfer stamps are fort $355k. Nearly certain that they paid 2x transfer tax, and the real price was $177,500. 1st and 2d mortgages totaled $177,168.
“Listed as a short sale”
Does not appear to have a mortgage. Weird to list as a short sale.
Best thing about living in this building: not having to look out your window and see this building.
2d best thing: location.
I wonder if this building has been approached over the last few years to deconvert? Seems like a perfect location for an apartment building.
I know prices were crazy in 2005, but if someone really paid $355,000 for this it was the rip-off of all time. I assume it’s a typo.
This might make a good place for a young person starting out. Great location. Looks pretty nice inside and the building has some amenities.