A two-bedroom at The Grove for 45% of the 2007 price

Having visited The Grove in Forest Park several times I find it difficult to fathom how units in the development can be selling at such steep discounts from their original selling prices. But they are.

The Grove is an attractive, quality development by an established, highly-regarded North Shore builder. The units were well-designed, well-built and included such higher-end finishes and amenities as hardwood floors, granite countertops, in-unit washer / dryers and more.

None of that has kept resale values from plummeting. Unit 509 at 7753 W Van Buren Ave, for example, sold in 2007 for $331,500 and is currently bank-owned and offered at $149,000 after the latest of several price reductions. The home has 2 bedrooms, 2 full baths, nearly 1,300 square feet of living space and comes with indoor parking. It's a HomePath property and can be purchased with as little as 3% down.

You can meet the developer and walk through part of The Grove in the above video, shot nearly 5 years ago.

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