Vintage Beauty in East Lakeview Reduces Another $36K: 507 W. Aldine
We’ve chattered about this 2-bedroom vintage unit in a classic 1920s East Lakeview courtyard building several times.
See our prior chatter and pictures here.
It has 2 full baths, a dining room, washer/dryer in the unit and the rare deeded parking.
It was withdrawn from the market but was recently re-listed and reduced another $36,000.
It is now listed well-under the 2007 purchase price.
In prior chattering, some of you thought it would sell for closer to $300,000 (which would put it in the price range of many of the listed 1-bedrooms in the neighborhood.)
And now?
Brent J. Rosenbower at Sudler Sotheby’s now has the listing. See the 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
- Was listed in May 2009 for $375,000 (includes the parking)
- Reduced
- Currently listed for $339,000
- 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
This is now a short sale.
I love it how they always replace the realtors over the months. As if it never occured to them the issue might be in the pricing of their property as opposed to it not being marketed effectively.
Must be tough being a realtor these days trying to deal with clients with unrealistic expectations.
I believe the saying goes that you want to be the ‘First Born, Second Wife, Third Realtor’.
The sellers are normally so beaten down by the time they get to the 3rd agent they’ll actually listen to his or her pricing recommendations.
Real estate isn’t rocket science. Get the price right, make the place look as good and neutral as possible, and get it on the MLS/online. This is 99% of what’s required to sell your average property.
I hate seeing these Realtors shell out money and time for listings now…they’ve had it so rough for the past 5 years with people buying homes without seeing them over text message.
Any of the re agents here refusing listing because the client is insitant on a rediculous price?
I mean, there are MLS fees, vTour fess, and time involved. Just wondering.
This should sell easily now at this price.
“This is now a short sale.”
Thanks for the info Art. I was wondering as it was 100% financing but in the general listing it doesn’t say it’s a short sale (but obviously it does in the MLS version with the agent’s notes.)
“Tom on June 15th, 2009 at 3:24 pm
Any of the re agents here refusing listing because the client is insitant on a rediculous price?
I mean, there are MLS fees, vTour fess, and time involved. Just wondering.”
I’ve turned down listings where the seller has unrealistic price expectations on a few occasions. However, there is often the temptation to take it anyway and hope they get realistic once the market shows them they’re overpriced. Sometimes sellers will choose the agent who recommends the highest list price – it’s called ‘buying’ the listing.
Beautiful building….I know it well. It does need some work on the enclosed rear porches, in the basement and on the roof. Or at least it did a year ago. It seems like a good pro-active HOA that is committed to repairing the typical deficiencies found in vintage multi-family buildings. I would check the heating disclosures since the insulation is one of the weak points.
Hey! Strike those comments. They were intended for the 2002 Howe property! Sorry!
I love this place. Would love it a lot more at $300K.
I am seeing comparable drop to $300K in Lakeview.
But does anyone in Chicago ever install anything but a gas stove in the kitchen? A free-standing range at that? I want a unit with a ratty old kitchen so I can do it my way.
“But does anyone in Chicago ever install anything but a gas stove in the kitchen? A free-standing range at that? I want a unit with a ratty old kitchen so I can do it my way.”
Laura: I’m with you. If I see any more cherry cabinets and brownish black granite I’ll scream.
Check out this month’s issue of House Beautiful. Great small kitchen in wine country that is beautiful. Great attention to detail.
Why don’t we ever see that in any Chicago properties?
I’ll keep looking so I can feature some here.
under contract
Thanks for the update Roma. It has been under contract at least one time before since last June.
Reactivated.
Now listed at 325. Laura, interested @ 300?