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My neighbor finally sold her condo this month. I’ve been watching closely because she had a unit similar to my own with 3 bedrooms and 2 baths. I was delighted to see that she received 100% of the asking price of $165,000 after 2 buyers fell through. It is rare for a 3 bedroom unit in my condo development to go on sale. For that matter, 2 bedroom units rarely go on sale also but you can find them in other parts of the suburban area.
Not only is my development affordable for a Chicago suburb but it is also well maintained. For the most part, it consists of older homeowners who have occupied their units for years. The woman who sold her unit this month was elderly and I purchased my condo in an estate sale after the elderly owner passed away. My unit offers stair free living which is a feature many older homeowners find attractive and I am hoping that one day I will find a good buyer for it when I am ready to sell.
I currently value my condo at $160k on my balance sheet.
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2 comments:
Ah, I see again you try and entice us to move to the burbs. A 3 bedroom condo around us is at least 300K. Much thinking to do.
LOL...When you look at the price of condos in the City, it's pretty easy. You just have a little bit of a commute. You can find some good deals in Homewood, Flossmoor, Orland Park, Tinley and even Palos in the South suburbs. The people there are cool too.
I personally also like Oak Park which is closer to the City but has the suburban feel. Maybe when I start to really make some money, I will consider relocating there.
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