Meltdown update – Woodlawn’s Renaissance on Kimbark

Woodlawn‘s population, as measured by the Census Bureau, fell from a high of more than 80,000 in 1960 to 23,410 in 2010. The community’s decline was accompanied by a seemingly-endless and costly succession of efforts at revitalization.

We visit Woodlawn periodically, and look in from time to time on property sales in the neighborhood. A series of small condos billed as “The Renaissance on Kimbark” was once touted as a harbinger of lasting change in the area. When we checked on sales at one of the Renaissance developments last October, a unit that had originally sold for $260K was listed, following a foreclosure, at $154,900.

The asking price for Unit 4S at 6615 S Kimbark is now $134,900. Recent resales of other condos in the area indicate that the price might not have reached bottom. Unit 2N at 6501 S Kimbark, pictured above in a 2007 photo, sold for $252,000 in 2007. The 3-bedroom, 2 ½ bath condo is currently in foreclosure and listed as a short sale at $75,000.

Unit 3A at 6609 S Kimbark sold recently for $52,000 and other units on the block have sold below $20,000.

The next development on the block should be named The Dégringolade on Kimbark.

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