August, 2007:
Info for prospective buyers interested in third floor unit and property @ 1226 E. Madison Park (See pics below)

(A) Location
Madison Park is one of few private parks in Chicago. It is a unique mad prime location near U. of C. campus, museums, lake, and transportation. A property owners association regulates parking, maintains the park, offers holiday events, and has a web site for owner interaction (www.madisonparkhydepark.com)

B. Property
Prior major property improvements included balcony repairs. First and second floor units sold in 2006 at $417,500 and $415,000 respectively with over $13,000 per unit special assessments for new furnace, painting, updating electricity, rehabbing coach house, and making main and coach house buildings independent. Major improvements are finished. With a coach house income increase as a supplement for income, unit assessments will remain at $275/month.

C. 3rd floor-
Only unit offering (1) a tin ceiling in one bedroom, (2) all new double glazed vinyl windows with screens, (3) a kitchen rehab with custom built cabinets around new gas stove, refrigerator, and microwave and (4) furnishings left at discretion of buyer. Adding 2006 special assessments, third floor unit is listed at $427,500 (appraised at $465,000). Listed price is reduced to $417,500 in light of minimal maintenance since partner death. .

 D.Features-
Each unit owner is assigned one parking space in a 3-car garage below the coach house, with additional street parking available from the Madison Park Property Owners Association for an annual fee. All units share space in front basement and back furnace room. Each unit is allocated a private small and large storage space in front basement. The condominium is self-managed by the three owners.

Edited by author 10-26-2008 04:19 PM
Update, 10/26/08:Re: Condo Apartment. Assessments just raised to $350/month to cover increased costs of maintainance. Ready to go anytime, now.. Hope to procure a motor home. BTW, there are pictures of property on messages that precede below..Click to #40-45.
8/20/08: Re:7-room Condo to share, rent, or rent with option to buy:
CHOOSE (THREE SELECTIONS)<BR>
(1) Share @ $550.month for private room, bath,dressing area,& balcony; kitchen, laundry and apartment privileges.
OR <BR>
(2)Rent all but one bedroom (reserved for owner occasional use) at ~$1500/ mo. OR<BR>
(3) Rent with option to buy @~ $2500/month applied to down payment.<BR> 3rd floor, 2300 Sq. ft (7-rooms furnished) in 3-Unit Condominium overlooking arboretum in one of Chicago's few private parks. Negotiable. (appraised at $465K). Sorting 40 years of stuff in process. Building has new furnace/electrical service/painted trim/balconies, and rehabbed coach house. This 3rd floor unit (#3) has all new window/screen, a tin ceiling in one bedroom, and remodeled kitchen.. Low assessment. Furnishings included. (will be leaving area). E-mail owner (preferred) for inspection, available at your convenience.<BR>

 Pics (below) show collages of property & 3rd floor and LR & DR views.

OVERVIEW:
<br>
SPACIOUS MADISON PARK CONDO HOME. WOODBURNING FIREPLACE. GREAT LAYOUT. ALL NEW WINDOWS & KITCHEN. GARAGE. FREE LAUNDRY, ADDITIONAL STREET PARKING. NEEDS SOME UPDATING. OWNER HAS BEEN HERE 39 YEARS.
<br>
7 rooms (LR, DR, 3BR, 3 BA, Sunroom, pantry, dressing area, and 4 closets) 2300 sq. ft. Dimensions: LR 23x18, DR 18x14, KT 20x10, SUN 11x9, MB 18x12, B2 18x12, B3 13x9,
<br>

MISC: Hardwood floors, balconies, porch, pets OK, refrigerator, oven/range, microwave, window AC units, A self-managed condo with a rented (income!)
4-room coach house above 3 car garage. Assessments presently @ $275/ /month.