When Real Estate Doesn’t Always Go Up: 4545 S. Drexel
There are some neat old mansions in Kenwood/Hyde Park that have been saved in recent years. The mansion at 4545 S. Drexel is one of them. Designed by famed architects Burnham & Root, the house was carved up into condominiums in 2002.
But some sellers have had difficulty re-selling for any profit.
Unit #3A sold for $237,500 in December 2003 and re-sold in August 2008 for $237,000.
A large duplex down is currently on the market. It has been on and off the market for nearly two years. Thanks to the Tipster who sent me the market information.
Unit #1E: 3 bedrooms, 2 baths, 2600 square feet
- Sold in June 2004 for $335,000
- Originally listed in May 2006 for $419,000
- Recently re-listed for $324,900 (includes the parking)
- Assessments of $368 a month
- Rubloff has the listing
Looks very, very nice.