Noah Properties condo seeks 30% price increase after 18 months

This is a show we’ve seen a number of times before, and it’s generally had a happy ending for the home seller.

A 3-bedroom, 2 ½ bath Noah Properties condo at 4042 N Western Ave that was purchased 18 months ago for $329,900 has just been listed for resale at $432,900. We shot the above video in February of last year at an incomplete unit in the development.

It’s not unusual for Noah Properties’ developments to sell out pre-completion, and also not unusual for resales to fetch significant price premiums.

Just over two years ago 18 units in the 2400 block of Belmont sold quickly well before construction was complete. We shot the above video at a completed unit just prior to the closings.

Unit 2E at 2431 W Belmont, a 3-bedroom, 2-bath, closed in June of 2012 at $272,400 and resold in April of this year for $395,000. Unit 3E, another 3-bedroom, 2-bath at the same address, was purchased for $274,400 in June of 2012 and resold in December of 2013 for $374,000.

Unit 1W at 2435 W Belmont, a 4-becdroom, 3-bath, was purchased for $332,400 in June of 2012 and resold for $450,000 in April of this year.

Unit 1W at 2441 W Belmont, also a 4-bedroom, 3-bath, sold for $328,400 in August of 2012 and resold for $422,500 in April 2014. Unit 2W, a 3-bedroom, 2-bath, closed at $272,400 in August of 2012 and resold in March of this year for $390,000.

Unit 2S at 3013 N California, a new Noah Properties development, is currently listed for sale at $319,900 with Tina Culver of Sergio & Banks, one of YoChicago’s advertisers.

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