Violations do not mean that the deal is unworthy of a look. Understanding the nature of the violations is the first step.
It looks like unit 4 (foreclosure) in this building is priced at $206,900. This is remarkably low for the area for a 3 Bedroom/2 Bath.
Violations happen for a number of reasons on new construction.
The most basic violations are building without a permit, or outside of the scope of the permit. The developer may have violated zoning or some other aspect of the development process. Other violations include substandard construction or alterations not approved.
I looked up the permit, and here's how it reads:
Location 2124 W. Rice St.
Issue date March 7, 2006
Application number 100098027
Work type New construction
A project to build a new structure from the ground up.
Description ERECT 4 STORY MASONRY BUILDING WITH 3 D.U. & 1 RETAIL AS PER PLANS, TRASH ENCLOSURE & FENCING INCLUDED. PROTOTYPE: 3829 N. SOUTHPORT. CONDITIONAL PERMIT SUBJECT TO FIELD INSPECTION.
Issue time 10:11 a.m.
Estimated value $500,000
I was issued with many others adjacent to it.
If you'd like me to check into this further, contact me.
Best of Luck