5 Points Condo Hints: Downtown's Not Quite There Yet

Downtown is heating up as plans to redevelop Underground Atlanta and, by extension, Five Points move closer to fruition. But a newly listed condo in the historic William-Oliver Building indicates that some values aren't near their pre-Recession levels yet. Listed for $140,000, a two-bedroom, two-bathroom unit in the 1920 high-rise last sold for more than $186,000 back in red-hot 2005. Sure, the unit's on the small side at 954 square feet, but the building offers a rooftop patio with views of the Gold Dome and walkability to anything in downtown. And with a growing list of potential neighborhood amenities — a grocery store, not least of which — the location can only get better. Is this an investor's dream, or does the 25-percent reduction in price over the last decade mean that Atlantans aren't quite ready for downtown living?

· 32 Peachtree St. NW, Apt. 1206 [Zillow]