You can tell a lot about the state of the Chicago highrise market by the buildings that are currently closing on units downtown. Most of those closing now were sold three to four years ago- at the peak of the “boom” and when investors were most active in the market. Several analysts of the Chicago market […]
As I’ve talked about before, it’s apparently become common to try and list your investment unit for re-sale in new construction buildings in Chicago about three months or so before the closing. We’ve seen this happening in several new construction buildings in Streeterville. But this investor in Burnham Pointe, at 730 S. Clark in the South Loop/Printers Row […]
The “investors” are alive and well in Printers Corner, at 170 W. Polk (on the corner of Polk and Wells) in the South Loop/Printers Row area. The 11 floor building is about to begin closings and already the investors are appearing on Craigslist to try and re-sell or rent out units. Rentals are appearing […]
Several new construction buildings are either just starting to close on units or are slated to close in early 2008. Suddenly, there are lots of investors who may want to sell who realize they are going to be in competition with many other sellers (and not just in their own building.) Recently, sellers have […]
It seems that the new price point for luxury larger one bedrooms in Streeterville is now around $600,000. Can this price point be sustained in Chicago? Case in point is a recent new listing at Fairbanks at Cityfront Plaza at 240 E. Illinois which is just starting closings on the tower portion of the building. […]
The first flip has appeared on Craigslist for MoMo, the new Smithfield building at Randolph and State Street across from the Borders and Macy’s (aka Marshall Fields) in the Loop. If you walk by on State Street, the lobby looks completed. The Joffrey Ballet will have its headquarters in the base of the building […]
After suffering through construction delays (it seems that the windows took forever to arrive), the St. Clair at 550 N. St. Clair in Streeterville is set to begin closings early in 2008. The flippers have started appearing on Craigslist – no shock there. The building’s website says that it is only 80% sold. In addition, this building […]
The flippers are coming out of the woodwork at Helmut Jahn’s new high rise in Streeterville. Just last week the first flips were listed. Two more have appeared on Craigslist for higher floors, both by these by the same flipper/owner. Can the prices get any more outrageous? The flipper is asking $529,000 for a one bedroom on […]