Are You A Foodie? This 2-Bedroom Is On Restaurant Row: 720 W. Randolph In The West Loop
This 2-bedroom in City View Tower at 720 W. Randolph in the West Loop recently came on the market.
It is in a very strategic location for those who are foodies.
Not only are all the hot restaurants of Randolph Street just a few steps away but the intriguing French Market at the Ogilvie Train Station is just a few blocks east.
It looks like this 2-bedroom was part of a larget foreclosure purchase in 2010 where an investor bought a bunch of units.
At 1413 square feet, this is no small 2-bedroom. It has a den that the listing says could be used as a dining room.
The kitchen has dark cabinets, granite counter tops, including a kitchen island, and stainless steel appliances.
It has a side-by-side washer/dryer, central air and parking is available for $24,900.
Listed at $293,900, is this a deal for the square footage?
D. Waveland Kendt at @Properties has the listing. See the pictures here.
Unit #808: 2 bedrooms, 2 baths, den, 1413 square feet
- Sold in foreclosure purchase along with other units in the building in November 2010
- Currently listed at $293,900 (plus $24,900 for parking)
- Assessments of $432 a month
- Taxes of $5186
- Central Air
- Washer/Dryer in the unit
- Bedroom #1: 20×12
- Bedroom #2: 12×11
It’s drab city if you ask me.
um nothing special, and a bit to close to all the diesel fumes and noise, but if you scoop this up for 250k its not a bad place.
what is rent over here going for?
Rather live in River North and visit the restaurants there. At least the HOA is not totally out of control. It is a larger two bedroom. Buy it rent it and hopefully make the numbers work 🙂
I wonder how long until the building collapses onto the Kennedy. http://www.illinoisconstructionlawblog.com/uploads/file/720%20randolph%20v_%20pepper.pdf
At least the two top floors might finally be finished ten years later.
http://www.redfin.com/IL/Chicago/720-W-Randolph-St-60661/unit-601/home/12681154
this is boring but is a deal and will go quickly. lack of inventory trumps.
It looks like a decent deal to me. It is a pretty boring looking building and unit, but the location is great if you don’t mind the highway.
I agree with Liz, the unit average, maybe slightly above, but do the extreme lack of inventory in the WL, it will probably go quickly and at a premium…. I’ve been watching for 3 (real) bedroom units in the west loop (Kennedy to Racine, Lake to Van Buren) and there is nothing… and when something good comes, it goes quickly and for above asking. Look at the closings for 817 W. Washington and 841 W. Monroe.
Grove, 1 BR with enclosed parking goes for $1600-$1700/month, 2 BD with parking is $2,000-$2,200.
Olympic meats is practically across the street!
+$30k
Also I am not sure some of you guys have been in the area lately, but its quite “trendy” these days, they have cleaned it up quite a bit. Certainly an interesting part of town, although I’m not sure if I would want to live there, the $/sqft seems pretty good although the price doesn’t include parking (25k extra)
I don’t understand all the complaints about the highway. Living near the highway is actually pretty convenient. It means less time you will be sitting in traffic. Also, as someone mentioned, this place definitely fits in with a cashflow positive model. It’s a win-win.
thanks jim,
at that rent price seems like a good buy if you can scoop it lower than list w/ parking. not a great unit but not bad and for the price, size and hood its a win in my book.
“Also I am not sure some of you guys have been in the area lately, but its quite “trendy” these days, they have cleaned it up quite a bit.”
is the party supply discount warehouse place still over there?
The area has turned into a Disneyworld for chefs….
Groove asked;”…is the party supply discount warehouse place still over there?”
If you mean Doolin’s Party Supply store it’s @ 511 N Halsted, just n of Grand/ Milwaukee/ Halsted.
nope it was on randolph
I love the location. It’s very urban. This particular corner is busy but it’s close walking distance to the restaurants and everything in the west loop.
The price seems decent for a drab 2/2 that’s 1400sqft with reasonable assessments. Some good paint and decorations and you could create a lot of value since the expensive stuff seems pretty decent.
“is the party supply discount warehouse place still over there?”
Groove – MK Brody is still on Randolph but around five blocks further west. Doolin’s is better and also close. They are located at Halsted and Grand. My wife loves that place.
This place is dull. It is about as plain and generic as it gets. RD659 located east and just across the highway or the Skybridge located just south of here are much better choices. This building still had the top two floors vacant and raw. They were never built out and last I checked they can be yours for $2M.
thanks Jp3,
never been to doolin’s but will swing in next time i need the party stuff.
what are rents going for at that place by bloomers? from some reason i recall that it would have better finishes than this place, but i dont know if the end product reflected that.
LITTLE GOAT!
I looked at a unit in this building a year ago. Very drab, and I think the top two floors were raw-ish spaces waiting to be sold to someone who would build them out into 14 different units. If this is still the case, getting financing for this building could be tricky.
I’ve lived in the West Loop for over 10 years now. A neighbor who’s been in the buidling even longer commented over the weekend that the rats and hookers have been replaced with nannies and strollers.
Don’t know if I’d call that progress but the observation is accurate.
NW Cutlery at 810 W Lake St Chicago, IL 60607 is where chefs (anybody can walk in) go to get their knives professionally sharpened on a mill stone. How about Peoria Packing? That place is a riot.
Peoria packing is by far my favorite place to go…. unbelievableprices and your meat has been killed that morning.
As full disclosure, I’ve been a resident of the area (Madison just west of Halsted) for over five years. I think the pocket of Monroe to Randolph and Halsted to Morgan, possibly Racine, is the perfect location for poeple who work in the loop. I personally walk to work most days, but the Madison bus is a pretty quick alternative that goes to the heart of the loop.. and if you work in river north, it even turns north on Michigan and goes to wacker during rush hour. Not to mention the new green line stop on Morgan. Sorry for the plug, but besides the paper loss I’ve taken on my condo, everything else in the area is great… when it’s time to move, since the rents are so high, I can cash flow positive (after PITA) about $300/month at current rent rates. Much beter than losing cash on a monthly basis.