Archive for March, 2008

Price Reduction on Michigan Avenue: 535 N. Michigan

535 N. Michigan in Streeterville on the Mag Mile was built in 1962. You might not even notice the building when you’re walking by on the street. The units don’t have washer/dryers but there is attached leased parking. There is also a penthouse indoor pool. But apparently the housing slowdown is affecting even units for sale […]

Short Sales and “Motivated” Sellers at 10 E. Ontario in River North

Ontario Place Private Residences, at 10 E. Ontario, is a massive River North high rise with 467 units. The building was a rental building until a few years ago when it was converted by American Invsco into condominiums. The building was built in 1982 and has a rooftop pool. American Invsco is still trying to sell units in the […]

Flipper Alert: First Flip Appears in The Emerald: 125 S. Green

The Emerald, the 212 unit two building development at 125 S. Green in the West Loop near Greektown, is nearing completion. The first apparent flip has appeared on Craigslist (thanks to the Tipster who sent me the link.) This is a sure sign that the building will be closing soon. Fifth Floor 1 Bedroom + Den: About the unit: Prime […]

Price Reduction on 375 W. Erie Penthouse with Terrace

I last chattered about the penthouse unit at 375 W. Erie in River North with the huge 1000 square foot terrace in January 2008. It has since had a price reduction: Unit #610: 2 bedrooms, 2 baths, 1800 square feet Sold in April 2003 for $560,000 Listed in January 2008 for $680,000 (plus $35,000 for parking) […]

Inside the Two Bedroom Units at 550 St. Clair

Apparently, several of you have recently toured this two bedroom flip at 550 St. Clair in Streeterville. Tipsters told me that it has pocket doors that lead into several of the bedrooms.  You can’t tell it from the pictures, but the master bathroom is apparently completely open into the master bedroom- ala “European style.”  Basically, if you’re […]

Chicago Journal: 830 S. Michigan Moving Forward

The Chicago Journal on March 12 also reported on developments involving a foreclosure filing on the developer of 830 S. Michigan, a proposed 80-story highrise across from Grant Park. The Chicago Journal: Hermes Capital Limited Liability Corporation filed a foreclosure lawsuit against the developers of a proposed condominium building at 830 S. Michigan. The project […]

Chicago Journal: Terrapin’s Wis. Problems Won’t Affect Other Chicago Projects

The Chicago Journal reported in its March 12 edition that the foreclosure filing against Terrapin by IndyMac Bank over its Kenosha, Wis. property won’t affect the developer’s Chicago buildings. Terrapin developed 901 W. Madison in the West Loop, which has already completed construction.  It is also building Burnham Pointe in the South Loop. From the […]

Update on the Studio Loft in 211 E. Ohio

Remember this small studio loft in the Grand Ohio at 211 E. Ohio in Streeterville? I chattered about it in November 2007. It sold. The third floor is unique in the building because the space was formerly offices. There are washer/dryers allowed in the units and they have 16 foot high ceilings. Unit #314: studio […]

Update on One Bedroom Foreclosure in 300 W. Grand

In January 2008, we chattered about a one bedroom loft foreclosure in 300 W.  Grand in River North. Several people were interested in bidding on it due to its relatively low price for a one bedroom in River North. 300 W. Grand #504: 1 bedroom, 1 bath, about 900 square feet Sold in April 1999 for […]

Update on Two Bedrooom Foreclosure in 212 W. Washington

A few weeks ago I chattered about a 2 bedroom, 2 bath foreclosure in City Centre Club, at 212 W. Washington, in the Loop. It has since been reduced again.  Is it truly a “deal” now? Unit #1902: 2 bedrooms, 2 baths, 950 square feet Sold in October 2002 for $270,000 Was listed for $319,900 – […]