Let the flipping begin in 550 N. St. Clair in Streeterville. I don’t believe any units have officially closed yet but already there are 15 units on the market out of 112 units. It appears that nearly all of floor 13 is back up for sale, with several units available from the developer’s agent- which […]
Did you see all the incentives developers were throwing around in this weekend’s real estate ads? The ad for The Emerald, which is being built in the West Loop near Greektown, said: “Limited Time- Leap Year Promo” Now thru March 2, leap into Emerald for special offers! Plus get $1000 off closing costs and put only […]
This is the time of the year in Chicago when you think, “darn, I should have bought that house with the fireplace.” Or, in this case, you can buy one with two. 7406 N. Claremont is a vintage building in the West Ridge neighborhood (aka West Rogers Park) originally built in 1928 and renovated and converted […]
It’s not just condo flippers who are having a hard time selling in this market. Owners of million dollar homes in Chicago seem to be under some stress as well. Just take a walk down West Wolfram Street in West Lakeview. I’ve already posted about 1445 W. Wolfram. Remember that house? It was the “Once […]
Reuters wrote an article this week entitled, “Wealthy May Be Next in Line in U.S. Home Crisis.” And wouldn’t you know it- the writer chose Hinsdale, Illinois as an example of how the bust was affecting the wealthy. The article had some good quotes about the Chicago housing market. About Hinsdale: “There is a section of the […]
Momo, the Smithfield development on the corner of State and Randolph in the Loop across from the old flagship Marshall Fields, is set to begin closings any day now. The first flips and rentals are starting to appear. My question on the rentals is: will investors be able to get higher rents in that location? None of […]
This time, the million dollar foreclosure is in River Bend, at 333 N. Canal St. in River West. This is the first foreclosure I have seen in that building. Unit #2205: 3 bedrooms, 2.5 baths, around 2500 square feet Sold in April 2006 for $1,308,500 Foreclosure auction price of $1,106,288 Currently, Unit #1805, which is of a similar […]
Sometimes there are listings that just seem strange. There were recently two listings for 1 bedroom units at 30 E. Huron, the 1980 apartment to condo conversion high rise in River North. They started converting these units in 2004. The developer website says the building is now “sold out.” These two listings said they were […]
For a flipper, it is sometimes good to be on one of the lower floors of a new building. Not only are those units cheaper but they also usually close first which means your unit becomes available earlier to prospective buyers. In some cases, you may be able to list and show your unit months before others in the building. You […]