Another cheap off-loading of a boom-time property is underway at 2230 W Warren. The body of evidence in support of the de-gentrification of the Near West Side has only grown stronger. Purchased in '06 for $350K and remodeled, the starting ask this time around is a mere $274,900, or 21.5% less. That ain't a good percentage, at least from the perspective of developers and other recent buyers. A snappy-looking 1880s brick rowhouse, the 3,500 sf includes three bedrooms, three-and-a-half baths, high first-floor ceilings, a cool open staircase, and a decent back yard. We don't know the story, but we can sure make a stereotyped-guess... Gainfully employed newlyweds seeking space for baby or two buy in "transitional" area for value and proximity to jobs/entertainment (read: vestiges of youthful exuberance). Things are going swimmingly for a bit until the neighborhood's faucet gets turned off. Little by little the least prepared/least patient succumb to the drought. The older residents grew up with drought, so it's not exactly news to them. But, the built incursions position the area for another tide of investment in the not-too-distant future.
·Listing: 2230 W Warren Blvd [Koenig & Strey]