Property Overview & Appeal
This condominium at 604-160 Tuxedo Avenue offers a compelling blend of space and value. Its primary appeal lies in its generous 1,712 sqft living area, which places it well above average for both the Edgeland neighborhood and the entire city, ranking in the top 4% citywide. This makes it a standout option for buyers seeking the space of a house without the exterior maintenance. Built in 1984, the building is established but not historic, suggesting potentially lower purchase prices than newer builds while still being relatively modern.
The property’s assessed value is notably higher than the city average but aligns more closely with its immediate street and area, indicating you’re paying for a desirable location. A key, less obvious perspective is that this unit represents an efficient financial footprint: you get elite-level square footage without an elite-level property tax assessment, as the value ranks significantly lower (top 7%) than the size does (top 4%). It would suit downsizers from larger homes who refuse to compromise on room, first-time buyers looking for maximum space per dollar, or investors attracted to a unit that offers a rare amount of living area for a condo, which can be a strong rental feature.
Frequently Asked Questions
1. Is the condo fee reasonable for a unit of this size?
The listing does not include the monthly condo fee, which is a critical piece of information. For a unit this large, the fee will directly impact affordability and value, so requesting a breakdown of what it covers is essential.
2. What is the condition of major building systems?
Given the building's age (1984), prospective buyers should inquire about the age and condition of major capital items like the roof, windows, elevators, and heating system, as these affect future special assessments.
3. How does the actual sale price compare to the assessed value?
The unit last sold for $48.5k in 2021, which is higher than its current $43.3k assessment. This recent sale provides a concrete market benchmark, but current listing price and market conditions will determine today's value.
4. What are the building's rules on rentals, pets, or renovations?
As with any condo, the specific bylaws and rules of the corporation will dictate lifestyle flexibility. This is especially important for investors or pet owners.
5. Why is the living area so large compared to similar properties?
The data shows this unit's size is exceptional. It's worth viewing the floor plan to understand the layout—whether the space is efficiently organized or includes unusually large rooms, halls, or storage areas that contribute to the total.