From $370K to $54K to $115K in Brighton Park

A 3-bedroom, 2-bath condo at 4016 S Western Ave was recently reduced to $115,000. It had been purchased for $54,000 in April of 2011. In February of 2008 it had sold for $370,000. The Brighton Park building has no functioning condo association and any sale must be all cash.

Remember when the Sun-Times proclaimed that “Brighton Park is on the move?”

Six and a half years ago we noted that story, which included Lexington Homes’ plans for 600 new homes in the area. The story is now offline – as is almost any prospect of near-term improvement in Brighton Park housing. For the record, none of the 600 homes that Lexington planned to build in Brighton Park were ever completed.

We visited the general area in the above video, which will give you a fair idea of how badly values there have slumped.

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