Under $400k in Old Town and Still Not Selling: 1212 N. Wells
The Neopolitan, at 1212 N. Wells, in Old Town was built in 2000 when there wasn’t much to do at the south end of Wells Street. Now, Old Town Brassiere and other restaurants have extended the Wells Street nightlife to Division.
Two two bedroom units are listed in 1212 N. Wells.
Unit #306 has been on the market nearly four months, with several price reductions.
Unit #306: 2 bedrooms, 2 baths
- Sold in May 2003 for $341,500
- Originally listed for $380,000 plus $35k for parking
- Has been reduced several times
- Currently listed for $364,900 plus $35k for parking
- Assessments of $425 a month
- Keller Williams River North has the listing
Unit #406 just came on the market.
Unit #406: 2 bedrooms, 2 baths, 1200 square feet
- Sold in June 2001 for $247,500
- Sold in February 2004 for $330,000
- Sold in April 2007 for $380,000
- Currently listed for $369,900 plus $35k for parking
- Assessments of $420 a month
- Kale Realty has the listing
I’ve toured 306 and it is a beautiful unit and a great deal. The owner just painted and installed all new carpet in the bedrooms!
Has anyone looked here who has also looked across the street at 1309 N Wells? How does it compare?
Just from the pictures above it looks like there is more closet space but the views aren’t as nice.
Burt: I’ve posted at least once on 1309 N. Wells. Do a search to find that post.
The buildings are very different in feel. 1309 is much older and the ceilings are lower. Some units in the building have been renovated, others have not.
I look at #406 last night. Nice unit. The mechanicals were in a closet in the master which I thought was odd.
The agent was also talking about a foreclosure at 1309 N Wells but I haven’t had a chance to look in to it.
Burt:
The agent was correct about 1309 N Wells. A foreclosure just came on the market:
Unit #607: 2/2 with parking
Listed at $279,900.
That’s the cheapest I’ve seen one of those units in several years (it’s 2003-2004 pricing.)
The rest of the units have been selling in low to mid-$300,000 range (depending on if it’s renovated.) Currently, two other units are on the market. #901 listed at $369,000 just went under contract. It is renovated.
Unit #703 was just listed for $354,900 and also looks renovated.
If anyone goes to see the bank-owned unit, let me know if its renovated as it has no pictures (so probably not.) I expect this to sell pretty quickly though.
Have at it!