Fourth Ward Square is located at 501 N. Graham St. and has been receiving the buyers' attention since the complex started offering units at $99,999. Of course there were only 2 sold at this price, but it is still near impossible to get one. The $100K units were 560 sq. ft. one bedroom. They are now selling for about 115K. The two bedrooms in the latest phase went for 217K and 222K The newest stage went through a lottery on 4-17-09.
The former apartment buildings will be turned into condominiumswith an HOA fee of $146/month for every unit. The units will be completely renovated. They floors will be replaced, new cabinets, granite counter tops, new appliances, wash and dryer, new fixtures, new windows, new electrical and plumbing. The community pool will be given a make over and will be turned into a salt water pool. Salt water pools are a lot easier and less expensive to maintain. The exterior siding does show signs of wood rot. The on-site agents say that the rotted exterior and buckling boards will be replaced.
There is a train track that runs by the complex so some of the units will be effected but some of the units have decent views of the city. The Fourth Ward Square contract gives the buyer the absolute right to walk within 7 days of contract (effective date)....but...if you are chosen in the lottery...you were asked to complete the contract within 8 hours.
