Buying Foreclosures: Viewing a two bedrooms condo in Lincoln Square

A client and I checked out a top floor two bedroom, one bath foreclosure condo in Lincoln Square. The bank had dropped the price to $89,000, so a quick decision had to made.

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The walls, floors, electrical and appliances can be easily updated by my contractors for well under $10,000. Doing a lot of basic work yourself, you could actually spend $5K and get pretty far. Invest $20K, you could also replace the entire kitchen and add Space Pac central air. Most buyers overestimate what really needs to be done to improve a condo and make it very comfortable (and affordable!).