Will This Short Sale 2/2 in Lakeview Sell for Under $200K? 3900 N. Pine Grove
We last chattered about this 2/2 in the Coronado at 3900 N. Pine Grove in September 2011.
See our prior chatter here.
Although the last chatter evolved into a discussion on if Chicago was becoming the next Detroit (!), some of you did manage to guess what this unit, then priced at $239,000, might actually eventually sell for.
Most guesses were in the range of $180,000 to $190,000.
Since September it has been reduced to $204,900.
If you recall, the building was converted into condos in 2006, at the height of the condo boom.
This particular unit has most of the upgrades that were common in that era including a newer kitchen with cherry cabinets, granite counter tops and stainless steel appliances.
The bathrooms are marble.
It has hardwood floors in the main living area and berber carpet in the bedrooms.
There is an in-unit washer/dryer but no central air. There are wall units instead.
In addition to the two bedrooms, the unit also has a 13×10 den.
Are these late-in-the boom Lakeview conversion 2-bedrooms destined to sell for around $150,000- or 60% off the 2006 price?
Peter Tortorello at Koenig & Strey Real Living has the listing. See the pictures here.
Unit #903: 2 bedrooms, 2 baths, den, no square footage listed
- Sold in August 2006 for $335,000
- Originally listed in June 2011 for $279,900
- Reduced several times
- Was listed in September 2011 as a “short sale” for $239,900 (included the parking)
- Reduced
- Currently listed at $204,900 (includes the parking)
- Assessments of $518 a month (includes heat and pool)
- Taxes of $5769
- No central air- wall units only
- In-unit washer/dryer
- Bedroom #1: 13×11
- Bedroom #2: 13×11
- Bedroom #3: 13×10
“Will this….sell for under $200k?”
Sure looks like it at this point…and that was what people were suggesting.
“Are these late-in-the boom Lakeview conversion 2-bedrooms destined to sell for around $150,000- or 60% off the 2006 price?”
I think someone will pick this up before $150k or even $167,500 which would be half of the 2006 price. I’m guessing $190k simply because of the added den.
I know this post isn’t all that exciting. ha!
That’s what’s going on out there right now. It’s sooooo slow. I can’t wait until the Super Bowl so we get some new listings.
Sabrina, any chance you can feature some MP units in SL? say something like:
1211 S Prairie Ave Unit 2302
or
100 E 14th St Unit 805
I know they don’t meet CC’s usual SL coverage of only distressed properties in subpar buildings but the second one at least has bad photos which usually is a must for SL featured properties ; )
Or 4639 N. Beacon in Uptown? I sent it but not sure the form sent. Gorgeous! I’d love input from Uptown experts. http://www.redfin.com/IL/Chicago/4639-N-Beacon-St-60640/unit-3/home/12818285
What’s up with the taxes on this place?
Yeah- I’m not sure that form is working correctly.
You can always e-mail me at cribchatter@yahoo.com or tweet me your requests at @CribChatter. I’m always looking for new properties to chatter about.
“Sabrina, any chance you can feature some MP units in SL? say something like:”
Sure. Not all properties have to be in distress (just, unfortunately, more and more are.)