Sometimes even the flippers get realistic. Such is the case with The Chess Lofts which recently started closings and which currently has many more units for rent than for re-sale. The Chess Lofts, at 320 E. 21st in the South Loop – near the Prairie Historic District – is a true loft conversion of the old […]
30 W. Oak on the edge of River North/Gold Coast near the Rush Street restaurant scene was a successful building since inception. The building has become a favorite of those who like the modern style. The 24 story, 46 unit building has only top of the line finishes including Poggenpohl kitchens. Ceiling heights are 10 feet […]
Zen, the new building at 225 S. Sangamon in the West Loop, is all about harmony and balance. Or so says the building’s website: The central theme of Zen is an individual living life in harmony with his surroundings, having balance in his every day life and an understanding of his place within the universe, […]
Some flippers in the West Loop are finding out that flipping isn’t always instant money. Take Madison 901 at 901 W. Madison in the West Loop. This new construction building by Terrapin is 148 units. Terrapin’s website says it is 80% sold. Closings started in the Summer of 2007. Currently there are: 9 units for […]
The Marquee at 1454 S. Michigan in the South Loop is starting closings this month. Prepare yourself. The building was sold pre-construction at “affordable” prices. The original price range was: 1 bedrooms from the high $100,000s 2 bedrooms from the high $200,000s 3 bedrooms from the high $300,000s Penthouse units from the high $600,000s Already, several […]
Closings began in the last few months at 600 N. Lake Shore Drive, the first of Belgravia’s two high rise towers going up in Streeterville across from Ohio Street Beach. A tipster told me that there was a clause in the contract that buyers couldn’t sell for a year after closing. Yet some flips are starting to […]
Let the flipping begin in 550 N. St. Clair in Streeterville. I don’t believe any units have officially closed yet but already there are 15 units on the market out of 112 units. It appears that nearly all of floor 13 is back up for sale, with several units available from the developer’s agent- which […]
Momo, the Smithfield development on the corner of State and Randolph in the Loop across from the old flagship Marshall Fields, is set to begin closings any day now. The first flips and rentals are starting to appear. My question on the rentals is: will investors be able to get higher rents in that location? None of […]
For a flipper, it is sometimes good to be on one of the lower floors of a new building. Not only are those units cheaper but they also usually close first which means your unit becomes available earlier to prospective buyers. In some cases, you may be able to list and show your unit months before others in the building. You […]