Comment of the day: Magnolia and Wilson building is nice, but condos overpriced at $400k

“I actually looked at this building before purchasing new construction farther west.. it is a nice building and has the amenities you would expect in a 4-5 floor elevator building, plus low assessments, but I wanted three bedrooms and preferred new construction.

‘However, I just checked out the prices here on the MLS and I’m stunned. I wasn’t crazy about the location, which is why my visit was nothing more than that, but there are currently 7 units for sale in the building between $380-$430K, and most are two-bedroom units with a small ‘den,’ which was little more than a closet from what I can remember.

“Considering the ‘prime’ Wilson Avenue location, I don’t know why anyone would buy these units when they can move to any of the new-construction developments a few blocks west for the same money and get three full bedrooms, sans (most of) the drunks and vacant retail spaces. There will be a Starbucks there soon also (in the Vis Vitae building at Clark and Leland) if that’s the only thing this location has going for it.”

Ravenswood Dweller commenting on our post about resales at 4553 N Magnolia Ave

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