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Newer North Center Home Sells for $780K Below '08 Price

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Just how much is a newer-construction home on Chicago's North Side worth? Sale prices always offer a better insight into the market than asking prices. The owner of this 6,100-square-foot North Center home was forced to drop the price several times since listing it in early 2008. The home was built in 2003 on a wide lot, and it has 4 fireplaces, radiant heating in the floors, and a 3-car garage with a roof deck. The place was priced just under $2.23 million in '08, and the owners had to cut the price at least five times in order to sell it. The 6BD, 5.5BA home finally sold last week for $1.45 million.
· Sold property: 3514 N. Seeley St. [Redfin]