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A Foreclosure Appears in 1620 S. Michigan

1620 S. Michigan is the modern CMK-developed building in the South Loop that closed in 2006.

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There are 249 units in the building. I have chattered about flippers taking losses in the building before and wondered how long other investors could hold on.

A foreclosure has now appeared as well.

Unit #326: 2 bedrooms, 1 bath, 935 square feet

  • Sold in November 2006 for $332,000
  • Foreclosure auction price of $314,946
  • Currently available to rent for $1800 plus $175 a month for parking

The rental listing states:

CORNER TWO BEDROOM ONE BATH. WITH PRIVATE TERRACE.WASHER/ DRYER IN UNIT. HEAT,AIR,WATER,GAS INCLUDED. LESSEE PAYS ELECTRIC & CABLE. PET OK W/ADD’L DEPOSIT. INDOOR HEATED PARKING SPACE $175/MO. AVAILABLE ASAP.

Cacciatore Harper has the rental listing.

This entry was posted on Thursday, March 20th, 2008 at 5:30 am and is filed under Foreclosures. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “A Foreclosure Appears in 1620 S. Michigan”

  1. I like this building. This price seems a bit steep though. I am going to save up my downpayment for a 1br/1ba foreclosure in this unit.. in about a year or two prices should be adjusted down by then.

    315k is still steep for a 2br/1ba…this property shouldn’t sell for more than 260k is my guess.

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