Greenview Gardens, a Rogers Park condo price collapse

I stopped by Greenview Gardens in Rogers Park, 7633 – 39 N Greenview, to check the condition of the building.

What prompted my visit was a steep drop in the price of resale units in the complex. Unit F, a 2-bedroom, 2-bath at 7633 N Greenview which was purchased for $212K in December of 2005, sold for $30K following a foreclosure. Unit 1N at 7635 N Greenview, a 2-bedroom, 2-bath purchased for $200K in September of 2006, went into foreclosure, and recently went under contract with an asking price of $55K. Unit 2E at 7637 N Greenview, also a 2-bedroom, 2-bath, sold for $57,750.

The exterior of the building appeared to be in superficially good condition, with a nicely landscaped, well-maintained courtyard.

At an all-in ownership cost of less than $700 a month, heat included, with in-unit washer / dryer, are these units a good deal? A good investment?

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