Selling short: 34% off '04 sale price at Prairie District Tower in the South Loop

Prairie District Tower, 1717 S Prairie Ave, ChicagoThe property history for Prairie District Tower‘s unit 610 tells a tale of stops and starts. First it sold in 2004 for $380,000. In August 2009 it went up for sale. Five months and five price changes later, it came close to selling. Then something happened. The unit came back on the market in March 2010, dropped in price again, and was classified once more as a pending sale in April. In May it was re-relisted; in August it was pending. Two days ago, it was re-re-relisted. I don’t know what the list prices were leading up to this week, but it currently has a bank-approved price of $249,900, which is about 34 percent under that old ’04 sale price.

The home is a two-bedroom / two-bath on southeast corner of the tower, located at 1717 S Prairie Ave in the South Loop. It features a 600 square-foot terrace, and most of the usual condo finishes. Prairie District Tower’s amenities and services include a 24-hour door staff, a bike area, a fitness center, sauna, and theater room, and on-site dry cleaners. Parking is available for an additional $35,000. Assessments for unit 610 are $639 a month.

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