What is currently available for rent at Park Place Tower, 655 W. Irving Park? What has recently sold at Park Place Tower? Below is a list of current available rentals as well as some information on recent sales at 655 W. Irving Park.
One Bedrooms at Park Place Tower for Rent:
#4215 – $1,550
#2412 – $1,550
#5414 – $1,700
#5511 – $1,725
Two Bedrooms at Park Place Tower for Rent:
#2401 – $2,150
RECENT SALES AT PARK PLACE TOWER
Cheapest unit to recently sell at Park Place tower was unit #4509 (studio) which closed for $87,000. The buyer however was also responsible for the special assessment which continued for roughly 10 years at just over $100/mo
The cheapest Two Bedroom to sell was unit 1902 which sold for $199,900 with 1 garage parking spot. Not bad! In this deal the seller was a private owner (not a bank and not a short sale) who advertised that they were willing to pay for the special assessment. The details for this aren’t available on the MLS.
Currently all the reasonable priced 2 Bedrooms are under contract. There are a few well over 300k still on the market. The 2 Bedrooms under contract are priced between 200 and 270. The cheapest unit is a studio priced at $135,000, #405. #611 is currently under contract. It is a studio and the asking price when it went under contract is $69,000.
How many units are for sale in Park Place Tower, 655 W. Irving Park?
Currently there are only 14 units on the market in Park Place Tower that are available to be shown and NOT under contract. Priced from $135,000 to $399,000.
Park Place Tower located at 655 W. Irving Park is full of short sales and foreclosures. However over recent months buyers have been flocking to the building and supply has finally started to drop to healthier levels! This does not mean that prices are going back up, but it does mean that if priced right those who need to sell in the building can do so quickly.
Currently there are 19 units on the market priced between $105,000 and $399,000.
There are also 27 units UNDER CONTRACT! Many of these are short sales which may take a while to close, but we will soon start to see these units close out in the MLS.
10 Units have sold in the past 3 months in the building. Two 1 Bedroom units sold for $180,000 and $191,450. In addition to these sales a 1 Bedroom converted to a 2 Bed (only 849sf) sold for $214,000. While these prices are down from the highs of 2007, they are “healthier” prices than we saw in 2010 and 2011 in the building.
Paul Blackburn is a licensed Illinois Realtor and Broker with @ Properties Chicago. He can be reached anytime via e-mail at Paul@PKBlackburn.com
Here is an update for mid April 2012 of 655 W. Irving Park, Park Place Tower of what is available for rent and some of the better “for sale” deals currently on the market.
CONDOS FOR RENT AT PARK PLACE TOWER, 655 W. IRVING PARK
#5209 – $1,225
#706 – $1,450
#3012 – $1,450
#5315 – $1,600
#2614 – $1,600
#3413 – $1,600
#3210 – $2,500
#5117 – $3,600
CONDOS FOR SALE AT PARK PLACE TOWER, 655 W. IRVING PARK
Two of the best units currently available are units #1417 and #904.
#1417 is a Large One Bedroom priced at $135,000 and #904 is a small 2 Bedroom (One bed converted to a 2 Bed) priced at $137,900. Both include parking.
As far as TRUE Two Bedrooms in the building are concerned the best deal is still currently #4710 priced at $225,000 Including Parking.
Paul Blackburn is a licensed Illinois Realtor and Associate Broker with @ Properties. He can be reached anytime via e-mail at Paul@PKBlackburn.com
655 Irving Park has seen a few sales over the past couple months and a handful of rentals on the market as well. Here is a list of condos that have closed in the past 2 Months, just before the New Year in 655 W. Irving Park, also known as Park Place Tower in Lakeview.
ONE BEDROOM / ONE BATHROOM UNIT 3514 $116,000
ONE BEDROOM / ONE BATHROOM UNIT 5506 $130,000
ONE BEDROOM / ONE BATHROOM UNIT 3016 $200,000
TWO BEDROOM / TWO BATHROOM UNIT 2810 $255,000
THREE BEDROOM / TWO BATHROOM UNIT 5116-17 $262,000
Several other units have gone under contract. Once these units close I will post the exact pricing. The most surprising unit to close was unit 3016 at $200,000. One of the highest priced One Bedrooms to sell in the building. The unit is a corner unit, DID NOT SELL WITH PARKING but was also not a short sale or foreclosure. The unit is highly upgraded and in excellent condition.
CURRENT UNITS AVAILABLE FOR RENT AT 655 W. IRVING PARK – PARK PLACE TOWER IN LAKEVIEW
Unit 4115 $1,400
Unit 2508 $1,400
Unit 3614 $1,450
Unit 4004 $1,700
Unit 710 $1,750
Unit 3001 $2,600
Unit 4801 $2,600
Unit 5117 $3,750
Paul Blackburn is an Illinois Licensed Realtor and Associate Broker with @ Properties. For any additional information on Park Place Tower please feel free to contact him at anytime via e-mail at Paul@PKBlackburn.com