Classic Vintage in East Lakeview Now Listed Under 2007 Price: 507 W. Aldine
As a commenter pointed out recently, the 2-bedroom vintage unit at 507 W. Aldine in East Lakeview has reduced again.
See our prior chatter here.
It is now listed $4,000 under the 2007 purchase price.
It has nearly all the bells and whistles with an in-unit w/d and deeded parking. It doesn’t have central air, however.
Brad Lippitz at Brad Lippitz Real Estate Group still has the listing. See more pictures here.
Unit#2B: 2 bedrooms, 2 baths, dining room, no square footage listed
- Sold in May 1995 for $154,000
- Sold in June 1998 for $199,000
- Sold in April 2000 for $243,000
- Sold in March 2007 for $379,000
- Was listed in February 2009 for $410,000 (included the parking)
- Reduced
- Was listed in March 2009 for $399,900 (included the parking)
- Reduced
- Currently listed for $375,000 (includes the parking)
- Assessments of $344 a month
- Taxes of $4830
- No central air- window units
- In-unit Washer/Dryer
- Wood-burning fireplace
- Bedroom #1: 14×12
- Bedroom #2: 12×11
1% under the peak of bubble pricing. These sellers are not serious.
A kitchen like that with a shitty florescent light above the sink. Ew.
I don’t understand why people will pay upwards of 400k, in this case $375k for a small 2br2ba with window unit AC! This won’t sell until the wintertime I’m sure. At least it has uncovered parking and a washer/dryer.
I’ve said it before and I’ll say it again. What were they thinking with the placement of those cabinets? Do they not realize the cabinets back up into a window?
These people have no common sense judging from the cabinets alone and they deserve to lose a bunch of money.
We are clearly not at 2007 pricing. But I know, I know… Lakeview and Lincoln Park are different. At least thats what the brokers tell me. Ha!
This one just has too many cons for this price. If it were a top floor and had central air I think it could go in the 370’s.
There is a comparable unit in the vintage highrise at 3300 N Lakeshore listed for $324,500, and it’s still there, even though it strikes me as rather a bargain, a really beautiful unit in a prime nabe, and very large.
So I don’t think this unit will sell for anything like $375K.
I’m tracking a number of vintage units that I like in Edgewater and Lakeview, and they are sitting on the market for an awfully long time even at prices that don’t seem too unreasonable. I believe buyers are having a much harder time getting financed for these units than they once might have, especially since these are high-maintenance buildings with big monthly assessments. Those assessments are a big add-on to your monthly payment and the lender will take them into consideration. Four years ago, the lenders weren’t taking anything into consideration- they just gave you what you wanted.
We’re back to year 2000 pricing, especially since incomes are dropping across the board and the financial industry on which Chicago is heavily dependent, is shedding jobs at all levels.
See you at $225K.
Looks like prior commentators were correct. Recently relisted at $339k