Comments on: Was $335,000, now asking $19,900 in East Garfield Park http://yochicago.com/was-335000-now-asking-19900-in-east-garfield-park/13367/ New homes, apartments and condos for sale and rent in Chicago Thu, 29 Jul 2010 07:26:27 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Joe Zekas http://yochicago.com/was-335000-now-asking-19900-in-east-garfield-park/13367/comment-page-1/#comment-49096 Joe Zekas Thu, 07 Jan 2010 22:58:41 +0000 http://yochicago.com/?p=13367#comment-49096 Wiley, I don't know what leads you to believe I'm happy with this outcome. I don't think anything in my post fairly suggests that. In fact, I'm never happy to see any property fail to this extent. This is one of those situations where you either have to buy the whole building or buy nothing. Wiley,

I don’t know what leads you to believe I’m happy with this outcome. I don’t think anything in my post fairly suggests that.

In fact, I’m never happy to see any property fail to this extent.

This is one of those situations where you either have to buy the whole building or buy nothing.

]]> By: Wiley Coyote http://yochicago.com/was-335000-now-asking-19900-in-east-garfield-park/13367/comment-page-1/#comment-49095 Wiley Coyote Thu, 07 Jan 2010 22:51:48 +0000 http://yochicago.com/?p=13367#comment-49095 It will cost at least $90,000 to bring the property back to the condition it was back in 2007. Factoring that in your cost and it comes out to $109,900, not including past city fines which can easily add up to thousands, possibly $10,000, we were are looking at $120,000. Whomever paid $330,000 was obviously a flipper/speculator. Doing a rental analysis would easily determine that this property was never worth anything near $335,000. $120,000 is a much more appropriate price. Remeber boys and girls, if your rents can't cover your mortage + taxes, than the property is overpriced. Joe appears to be happy that this property has slipped in value. What gives? It will cost at least $90,000 to bring the property back to the condition it was back in 2007. Factoring that in your cost and it comes out to $109,900, not including past city fines which can easily add up to thousands, possibly $10,000, we were are looking at $120,000. Whomever paid $330,000 was obviously a flipper/speculator. Doing a rental analysis would easily determine that this property was never worth anything near $335,000. $120,000 is a much more appropriate price. Remeber boys and girls, if your rents can’t cover your mortage + taxes, than the property is overpriced.

Joe appears to be happy that this property has slipped in value. What gives?

]]> By: Carol Ann http://yochicago.com/was-335000-now-asking-19900-in-east-garfield-park/13367/comment-page-1/#comment-48887 Carol Ann Tue, 29 Dec 2009 21:47:43 +0000 http://yochicago.com/?p=13367#comment-48887 I tried to show that property a few weeks ago. Unit boarded shut, but was able to see third floor (serious water damage and all fixtures gone) and garden which was completely trashed. Cats running in and out of the building. Witnessed a drug deal in front of the building. It will be a while before that building/street are worth anything. I tried to show that property a few weeks ago. Unit boarded shut, but was able to see third floor (serious water damage and all fixtures gone) and garden which was completely trashed. Cats running in and out of the building. Witnessed a drug deal in front of the building. It will be a while before that building/street are worth anything.

]]> By: David http://yochicago.com/was-335000-now-asking-19900-in-east-garfield-park/13367/comment-page-1/#comment-48856 David Mon, 28 Dec 2009 10:24:20 +0000 http://yochicago.com/?p=13367#comment-48856 Good god, that area is a warzone. Good god, that area is a warzone.

]]> By: Joe Zekas http://yochicago.com/was-335000-now-asking-19900-in-east-garfield-park/13367/comment-page-1/#comment-48832 Joe Zekas Fri, 25 Dec 2009 16:56:52 +0000 http://yochicago.com/?p=13367#comment-48832 Merry Christmas, Sir Isaac. Do you have any information to contribute about this property? Merry Christmas, Sir Isaac.

Do you have any information to contribute about this property?

]]> By: Sir Isaac Newtown http://yochicago.com/was-335000-now-asking-19900-in-east-garfield-park/13367/comment-page-1/#comment-48829 Sir Isaac Newtown Fri, 25 Dec 2009 10:16:22 +0000 http://yochicago.com/?p=13367#comment-48829 Wow Joe - you've got to be pretty dumb and/or gullible to believe that the actual selling price for that apartment is $19,900. Wow Joe – you’ve got to be pretty dumb and/or gullible to believe that the actual selling price for that apartment is $19,900.

]]> By: the urban politician http://yochicago.com/was-335000-now-asking-19900-in-east-garfield-park/13367/comment-page-1/#comment-48824 the urban politician Thu, 24 Dec 2009 22:52:53 +0000 http://yochicago.com/?p=13367#comment-48824 I feel bad for the sucker who bought it for $335,000 I feel bad for the sucker who bought it for $335,000

]]> By: the urban politician http://yochicago.com/was-335000-now-asking-19900-in-east-garfield-park/13367/comment-page-1/#comment-48823 the urban politician Thu, 24 Dec 2009 22:49:27 +0000 http://yochicago.com/?p=13367#comment-48823 Get out of town. I might just buy that thing and sit on it for about 30 years.. Get out of town.

I might just buy that thing and sit on it for about 30 years..

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