Is there a market for million dollar Naperville condos?

520 S Washington, Naperville, Illinois

Downtown Naperville has million dollar plus condos. Who knew?

Two units are currently on the market in that price range at 520 S Washington, overlooking the Riverwalk.

A 5,300 square foot 3-bedroom, 3 ½ bath penthouse with 2 garage spaces has been on the market for over a year and is currently priced at $1,795,000. It originally sold for $1,850,000 in August of 2006. Taxes are $27,256 and monthly assessments are $1,800.

A slightly smaller unit - 4.918 square feet - is available on the 3rd floor at just $1,095,000. It's been on and off the market for 3 years and, according to the listing, originally sold for $1.8M in 2006. This unit has 3 full and 2 half baths and 3 parking spaces. Taxes for 2009 were just over $28K and monthly assessments are $1,758.

Without having seen both units, it's hard to say with any certainty which is the better buy - but it's even harder to ignore that $700,000 price differential.

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