Last month, following a tip from Matt Garrison, we took a look at the “devastated” condo conversion market around Devon and Western avenues in West Ridge. That post came to mind last week, as I read that many of Devon’s Jewish stores were closing down or, in the case of Rosenblum’s World of Judaica, moving to the North Shore.
Zoom into the area near the intersection of Devon and California avenues (a half-mile west of Devon and Western) in Google Maps and you’ll see any number of signs of Jewish business and culture, from Tel-Aviv Kosher Pizza and the New York Kosher Sausage Shop to the Anshe Motele, Tifereth, Bnei Ruven, and Shearith Israel congregations. Will these all go the way of Rosenblum’s?
I looked again at listings and found some truly tough situations around Devon and California. A two-bedroom / one-bath condo inside the converted 19-unit building at 6303 N Rockwell St has been on the market since May 11 at a price of $62,900 — in July 2007, it sold for $240,000. That’s a 74-percent difference, and while it’s the biggest discount I found among the area’s condos, there are plenty of others running close behind. Three more converted condos — 2843 W Arthur Ave #3, 6310 N Rockwell St #3, and 6323 N Sacramento Ave #3W — are currently listed at 62 percent or more below their ’06-’07 closing prices, and another four have dropped in price by at least 40 percent since arriving on the MLS.
Do any Yo readers living in the area want to chime in on what they’re seeing and hearing from neighbors and friends?