Archive for the 'Flips' Category

What’s Going on in Aqua? 225 N. Columbus in Streeterville

Aqua, at 225 N. Columbus in Streeterville, has won numerous design awards for its exterior.
The building consists of a hotel on the bottom floors (has yet to open), apartments in the middle of the building and 264 condos on the upper floors.
The building, at 82 stories, is among the tallest in the city. It is a […]

Flipper Alert: First Flips Appearing in 2 W. Delaware in the Gold Coast

This 2-bedroom unit in the new construction high rise Walton the Park, at 2 W. Delaware, in the Gold Coast recently came on the market just 3 days after its previous closing.

It is a larger corner 2-bedroom unit with a 7×7 den and floor to ceiling windows.
The kitchen has stainless steel Viking appliances and granite […]

Trying to Flip One Month Later: 5755 N. Melvina in Norwood Park

This 3-bedroom English Cottage home at 5755 N. Melvina in Norwood Park was bank owned in March 2010 and then sold by the bank in June 2010.
Just a little over one month later, it has returned to the market for $104,900 more than the previous purchase price.
Two out of the three bedrooms are on the […]

Flip This House: A 5-Bedroom Renovated Colonial in Jefferson Park: 5145 N. Lovejoy

This 5-bedroom colonial at 5145 N. Lovejoy in Jefferson Park has been completely renovated so that it has all the amenities of a “new” house.
The kitchen has new 42 inch cabinets, granite counter tops, stainless steel appliances and marble floors.
There are hardwood floors throughout the first floor.
The basement has been finished with a 12×28 recreation […]

Flipper Alert: 2-Bedroom Gold Coast Townhouse Returns: 820 N. Dearborn

We chattered about this 2-bedroom three story Gold Coast townhouse at 820 N. Dearborn in 2009.
See our July 2009 chatter here.
Back in 2009, it was bank owned and sat on the market for 7 months before finally selling in November 2009. Many of you thought it wouldn’t even fetch $400k (and were right).
It ended up selling for […]

Flipper Alert: Trying to Flip a 1-Bedroom for $66K Profit: 30 E. Huron in River North

We’ve chattered several times in the past few months about the new breed of condo flippers in Chicago.
No longer are they buying new construction condos at pre-construction prices and then selling for a profit when the building is completed. Now, they are buying foreclosed units from the bank and re-listing the condos, sometimes days later, […]

Flipper Alert: Hoping for Six Figure Profit in Irving Park: 4144 N. Ridgeway

This 4-bedroom single family home at 4144 N. Ridgeway in Irving Park was on the market as a bank owned property just 9 months ago.
Purchased and then renovated with a new kitchen, baths, floors and a fresh coat of paint, the house returned to the market asking $279,000 more.
At 2400 square feet, it now stainless steel appliances and granite […]

Flipper Alert: 4 Months Later and Holding Firm on the Price: 600 N. Kingsbury

Remember this 1-bedroom unit at 600 N. Kingsbury in River North from the fall of 2009?

The unit was originally bank owned and then bought and re-listed only two months later for $78,900 more.
See our October 2009 chatter here.
It’s now 4 months later and the price is still the same.
It is no longer the cheapest 1-bedroom for sale […]

Flipper Alert: Buy From the Bank, Re-list for $54K More: 1540 N. LaSalle in the Gold Coast

The flippers are back!
We first chattered about this phenomena with a 1-bedroom unit at 600 N. Kingsbury in River North.
Unit #814 was bank owned and sold in August 2009 for $200,000 (with the parking). It was then re-listed for sale in October 2009 at $238,900 (plus $29,000 for parking).
It’s still available.
See our 600 N. Kingsbury […]

Flipper Alert: First Flip Appears in The Legacy: 60 E. Monroe in the Loop

The first flip has appeared in The Legacy at 60 E. Monroe as well as the first interior pictures.
This 1 bedroom plus den closed just 7 days ago for $417,453 and already is back on the market for $499,000 (parking is extra.)  I don’t know if the original close included the parking space.
From the pictures, […]