What’s Selling in Bridgeport: An Authentic Loft at 3500 S. Sangamon
This 2-bedroom brick loft at the Union Lofts at 3500 S. Sangamon in Bridgeport recently went under contract.
It is a short sale and had been reduced by about $34,000 since April 2009.
It is a corner unit and has 11 foot high ceilings. It looks like the parking is included in the price.
It’s also listed for $47,593 under its 2004 purchase price.
Was this a deal?
Laura Stanek at Koenig & Strey has the listing. See more pictures here.
Unit #409: 2 bedrooms, 1 baths, 1148 square feet
- Sold in April 2004 for $268,000
- Sold in September 2006 for $277,000
- Originally listed in April 2009 for $254,900
- Reduced
- Short Sale
- Currently listed for $220,407 (parking included)
- Under contract
- Assessments of $423 a month (includes heat, A/C, water, gas)
- Taxes of $3636
- Central Air
- Washer/Dryer in the unit
It should be noted that unit 106 is a 3/3 foreclosure listed for 223k.
Other units listed for sale in this building:
404 – 235k (1/1)
308 – 309k (2/2)
401 – 320k (2/2)
114 – 385k (2/3)
Whats that stampeding sound? Is that a rush to get out?
Even though 106 is a dupe down, that’s a helluva price.
I wonder what the SF is on that unit? And how does it have a 26×8 deck if it’s a 1st floor unit with a dupe down below grade?
http://www.redfin.com/IL/Chicago/3500-S-Sangamon-St-60609/unit-106/home/12567723
I hope whoever buys here drives to work. So far from any of the El stops.
Give this building another year,,, then you’ll see some real deals!
Actually, looks like there’s a patio on the South side of the building. #106 probably gets decent light too then. That’s an interesting price for a 3/3. Might even cash flow as a rental with utils included in the (rather high) assessments…
If theres no water damage or damage to the unit itself… can never really tell with these “as is” properties… it could be full of mold, and if a deal is too good to be true, it probably is.
There is no mold in this unit. The el is a quick bus ride away so that is not a problem. You get downtown faster from here than you would in Lakeview.
However. there will be a lot more of these coming up over here. Unless you were born and raised in BP, there is little to do except go to Polo Cafe for dinner.
I recommend Pancho Pistolas on 31st.
If you have a car there is great highway access: Entrances to 90/94 at 31st, 35th, Pershing. Hop onto the Cermack feeder for LSD & 55. Also get on 55 at Ashland. If you need to get downtown or the west loop you can also take the ‘Bridgeport Expressway’: Canal Street.
Jason(tfo): “The el is a quick bus ride away so that is not a problem.”
Ever had a commute where you had to take a bus to an el? I did that for a year once… on a few separate occasions, I’d miss a bus by 30 seconds, and wind up 20 minutes late to work. And let me tell you how much fun it isn’t to wait for a bus that’s running late in the Chicago winters…
Granted, that *was* before the CTA bus GPS thing… but still… awful! never again!
I’m pretty sure that the CTA bus tracker will be considered the greatest invention of this decade for the city. LOVE IT!
Okay time for your monthly Bridgeport Real Home and MLS Listing of Genius Award!
MLS # 07298827.
Listed 8/13 with an ask price of 449k. Please see the picture of this property to give the ask price some context. And not only is this a real home of genius, its also a real MLS listing of genius:
“The proffesionally landscaped front yard has a recently be outfitted wth a new 6′ iron fence”
You can’t make this stuff up folks.
Unit 114 relisted on 10/8 with a combined price of 375k (parking included).
Massive price reductions on this building as well as the one at 3505 S Morgan.
Take a look at MLS 07355925. Its unit 501 in this building, a 2/2 and a private terrace that measures 13×10 with skyline views. Listed for $204k. This looks to be a screaming deal even without parking.
Or MLS 07354590, a short sale at 3505 S Morgan unit 201. A 2/2 with heated deeded parking for 240k.
Oh if it sounds too good to be true it is: assessments for that unit 501 are listed at $926. WTFLOL.
http://www.falconliving.com/search/buildings/B/bridgeport-union-lofts/
How naieve of me to think that there could actually be a great deal in Chicago real estate aside from renting haha.
HOLY, NO way. Almost a grand/mo. in assessments to live in Bridgeport? I don’t dislike Bridgeport, but that’s crazy talk.
You can now get a 1,163sqft 2/2 condo at Bridgeport Condominiums by Tandem development for 232k (top floor). Not sure on parking included as its not mentioned but before prices were cut drastically it was.
MLS 07480158.
I gotta say deals are popping up in these non-prime hoods.
Err I erroneously mentioned Tandem development. Its not its Mega Group.