Flipper Alert: The latest on re-sales and rentals in 600 N. Fairbanks
Helmut Jahn’s 600 N. Fairbanks in Streeterville is proving to be a hot topic among those interested in Chicago’s downtown real estate market.
Back by popular demand- here is what is happening in the building:
- 14 units are for sale
- At least 7 units are for rent
Two units are currently under contract. One has recently been rented.
Unit #2002: 2 bedroom, 2 bath, 1258 square feet
- Currently listed for $650,000 with “parking available”
- I can’t find an original sale price but #1902 sold for $588,928 and #2202 sold for $621, 152. (Remember, price depends on how early you bought in in pre-construction.)
- A “tipster” tells me that #2002 is contingent (but we don’t know if that means they are waiting on financing or it is contingent on the buyer selling another property first.)
Stay tuned.
Unit #3803: 2 bedroom, 2 bath, 2470 square feet, 2 car parking
- Currently listed at $1,582,000
- Duplex unit
- Developer’s unit- so not a flip
The unit that rented is Unit #1404, an 853 square foot 1 bedroom, 1 bath. It was listed for sale for $425,000 plus $55,000 for parking or for rent for $2200.
As I’ve said, the rentals in these buildings are good “deals.”
So far, none of the one bedrooms has been successfully flipped. But the building continues to close on units (and will do so through the spring.)
I have seen all new units in our city and I have to say that our building is by far the most beautiful – as for flippers, it’s their loss – gorgeous units built by a famous architect can only increase in value very quickly – I am thrilled with my condo – it is fabulous!!!