The nearly news: How five-year-old condos are faring

550 W Wellington Ave #4ECondos of the 2006 vintage are cycling through their second and even third owners at this point, but they’re still young enough to count as “nearly new” in our book. Here are just three examples of five-year-old three-bedrooms currently on the market:

  • Unit #3101 at 1720 S Michigan Ave in the South Loop: A three-bedroom / two-bath with 1,350 square feet, priced at $479,000. The northeast-corner condo has 10-foot ceiling heights, stainless steel appliances, granite countertops, white contemporary cabinets, spa baths, and an east-facing balcony. Parking is available for an additional $30,000. 2009 taxes are $5,538; monthly assessments are $533. The home last sold in 2008 for $445,000.
  • Unit 4E at 550 W Wellington Ave in Lake View (pictured): A three-bedroom / two-bath with 2,002 square feet, priced at $724,900. The home features Italian wood floors throughout, Bulthaup cabinets, granite countertops, stainless steel appliances, in-unit laundry, a limestone bath with whirlpool and separate shower, a private balcony, and home theater wiring. A space in the building’s heated garage is included. 2009 taxes are $11,055 with a homeowner exemption; monthly assessments are $475. The home last sold in 2007 for $800,000.
  • Unit 3S at 4145 S Wabash Ave in Grand Boulevard: A three-bedroom / two-bath with 1,550 square feet, priced at $75,600. (The buyer must have pre-approval from Bank of America.) The home features hardwood floors, wood windows, walk-in closets, a marble master bath with separate shower and jacuzzi and double-sink vanity, a kitchen with granite countertops and stainless steel appliances, and in-unit laundry. Parking is included. 2008 taxes are $3,731; monthly assessments are $202. The home last sold in 2007 for $259,000.

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