Five years ago today we called attention to a new condo development planned for 3823 N Ashland Ave, in Lake View. One- to three-bedroom units, tricked out with the usual goodies, were priced from the $340s to the $720s.
A check of the public records indicates that the units sold readily in 2007 and 2008, at prices ranging from $330K to $742,500. The 22-unit development has seen only four resales, only one of which sold more than 10% below the original purchase price. Only one unit in the building has gone into foreclosure.
The building is next door to the poorly-rated Centro Chicago sports bar.
Back in August of 2009 Joe Askins and Mark Boyer paused in their drive along Ashland Avenue for a closer look at two condo developments just south of there, a 5-flat at 3748 and a 6-flat at 3747. See the above video.
All five units in building at 3748 N Ashland Ave closed between January and August of 2010 at prices ranging from $425K to $530K. There have been no resales or foreclosures.
The building across the street at 3747 N Ashland Ave met with less success. Only one of the units appears to have sold in an arms’-length transaction. It would take further investigation to confirm the details, but the remaining units appear to have been deeded to and separately mortgaged by parties related to the original developer.
All three of these projects fall within the boundaries of the well-thought-of Blaine School attendance area.