Looking at buying a unit in 5320 N. Sheridan Rd., Chicago.

Asked by Chi-girl, 60640 Sat Jun 27, 2009

Anyone live there or have experience with the building? Opinions?

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4
Joanna Weiss, , Chicago, IL
Mon Oct 29, 2012
I would be happy to help you with the Pre-Qualification letter for financing. If there are numerous condo in the bulding in short sale or foreclosure, you will need a 20% down payment. We have down payment assistance programs for first time home buyers.
0 votes
Philip Sencer, Agent, Chicago, IL
Tue Oct 23, 2012
Another of many problem buildings converted during the bubble years. Not sure of the financials, but as always you need to do your homework on any condo building. Great views and lots of amenities, but those amenities need to be maintained so watch the financials of the building. Be sure you get a parking space.
0 votes
Jeffrey Kropp, Agent, Chicago, IL
Sun Jun 28, 2009
There are about ten condos in some state of foreclosure in this building. Like any condo building now, you would want to know everything about those distressed units, which ones have been placed for sale on the MLS, etc. I would only focus on distressed condos in this building if you can find a unit that meets your needs.
Any pro buyer agent has all this info at their fingertips, but essentially you don't want to buy high and see your equity dwindle as more distressed condos come online (its take 13 months in IL for condo to go to auction),

Good luck!
Web Reference:  http://www.1sthomegroup.com
0 votes
Don Yosef Ma…, Agent, Highland Park, IL
Sat Jun 27, 2009
Great building i believe it was condo converted about 8-10 years ago. Like most other properties it has a few short sales that have brought the values down in the building. You can get alot for your money in this building. If I can be of any further help please let me know.
sincerely yours,
Century 21 MB
Chicago & Northbrook
Don Yosef Marcus GRI,ABR,CREC,SRES
0 votes
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