We’ve chattered about several one bedroom condos where the owners were trying to sell in only a year. But what about a bigger, more expensive unit?
3816 N. Fremont was a conversion of an older graystone in Lakeview in 2007. This 3-bedroom duplex sold in June 2007 and came back on the market in February 2008 .
The property has had several price reductions since.
Unit #1: 3 bedrooms, 3 baths
Sold in June 2007 for $717,500
Originally listed in February 2008 for $775,000
Reduced several times
Currently listed for $738,900 Â (parking included)
Assessments of $154 a month
No taxes yet (new construction)
Coldwell Banker has the listing
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Even in Popular Buildings, It’s Tough To Make Money: 250 E. PearsonFrom: cribchatter.com
Post Date: 2008-03-04 12:17:39
The Pearson , at 250 E. Pears on in Streeterville, closed in 2003 and has been a very popular building for re-sales. It has held its value well.
That part of Pearson is quiet, with the south facing units overlooking the park, the lake and Northwestern University Law School. Yet you are two blocks east of the Mag Mile.
But with sales in the upper bracket slowing, even Pearson owners are finding it tough to make money, even if they’ve owned in the building for nearly f...
more Something is Going on at Vision on State: 1255 S. StateFrom: cribchatter.com
Post Date: 2008-03-04 09:30:11
I just saw the strangest listings yet in the downtown Chicago real estate market.
I last chattered about Vision on State , a new construction high-rise at 1255 S. State in the South Loop in mid-December 2007. There were numerous flips in the building (surprise!).
As of December 13, 2007 these were the buildings statistics (out of 253 units ):
23 units for sale
14 units for rent
Just recently, 75 new units  came on the market with some odd characterist...
more 2300 S. Michigan Turmoil: Rokas Intl’s President Back in Lithuania?From: cribchatter.com
Post Date: 2008-03-04 06:15:17
The Sun-Times is reporting that Rokas International, Inc.’s president, Andrius Augunas, has left Chicago and may be in his native Lithuania.
Rokas was the developer at 2300 S. Michigan in Motor Row in the South Loop that has stopped construction and faces numerous contractor liens.
“He’s a very nice guy and doesn’t come off as a crook, but his situation got much worse,” said Patrick Fitzgerald, an architect who designed Augunas’ Motor Row Condominium ...
more Foreclosure and Short Sales in 1600 S. IndianaFrom: cribchatter.com
Post Date: 2008-03-04 04:35:47
The mid-tier bracket around $400,000 seems to be very a very hard sell right now. And every month there is new inventory coming on-line.
With all the new high-rises closing in the South Loop, there will be a glut of the small two/twos there.
There’s currently a short sale and a foreclosure in 1600 S. Indiana in the South Loop. 1600 S. Indiana is a high-rise building completed in 2006.
In short sale:
Unit #1806: 2 bedrooms, 2 baths, 1000 square feet...
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