We’ve been chattering about cash flow for multi-unit buildings like this brick 2-flat at 2516 N. Lotus in the Belmont Cragin neighborhood (near the Brickyard Mall) on the city’s Northwest Side. The listing says it’s a “short sale”. It’s listed $205,100 under its 2007 purchase price. Will this property ultimately sell for less than its 1999 purchase […]
This 2-bedroom vintage unit at 917 W. Webster in Lincoln Park is already under contract after less than 2-weeks on the market. A tipster told me that it had multiple offers. It seems to have all the bells and whistles with central air, an in-unit washer/dryer and parking in a prime Lincoln Park location. However, it’s […]
From the street, this 2-bedroom home at 1722 W. Wellington looks like your run-of-the-mill vintage Lakeview house until you step through the front door. The interior has been transformed with exposed beamed ceilings in the living room, a spiral staircase leading to the second floor and contemporary baths. Catherine Brennan at Sudler Sothebys has the listing. […]
Every corner of the city is being plagued by short sales and foreclosures and even the most luxurious and prestigious high rises aren’t immune. This 2-bedroom bank-owned unit just came on the market in the Park Tower at 800 N. Michigan Avenue in the Gold Coast. Many of you would know it as the Park […]
Some properties continue to go under contract quickly like this 3-bedroom townhouse at 320 N. Clinton in Fulton Station in the Fulton River District. These townhomes were built in 1998. Unit #H was listed only 15 days ago. Are townhouses that hot? Or was it the “right” price? Becky Meiselman at Prudential Preferred Properties has the listing. See […]
Remember the bank-owned condo at 3023 N. Kenmore in Lakeview? The three-unit building had been converted into expensive condos at the peak of the boom. See our February 2008 chatter and more pictures here. The bank-owned unit has sold. A quick refresher on the building’s history: The building originally sold in October 2004 for $739,000. It […]
Foreclosures and short sales continue at some downtown high rises. We’ve chattered about 440 N. Wabash in River North (next door to Trump Tower) before but the number of owners under stress in the building appears to be growing. The current stats on the building (out of 457 units): 54 for sale (about 12% of the building) […]
This 1-bedroom plus den at 1234 W. Argyle in Uptown was a 2004 conversion. It has most of the bells and whistles including central air and parking but appears to be missing the in-unit washer/dryer. It’s also listed $15,600 less than it last sold for in 2004 (if you include parking). Is this a case where […]
Crain’s reported on an uptick in Chicago home sales in March compared to both February 2009 and January 2009. According to the Chicago Association of Realtors, 1,438 homes sold in Chicago in March, a 26% increase over February. However, the number of sales which were “distressed” – meaning foreclosures or short sales – has been rising. Distressed […]