East Randolph Street – Call Kristine 312-933-1894

Observations and insights into real estate happenings along E. Randolph St. in downtown Chicago

East Randolph Street, Chicago

440 N McClurg and 480 N McClurg studios sold in the last 12 months

September 6th, 2012 · No Comments · Uncategorized

There are totally 8 studios closed in the last 12 months at the City View condo, the 440 and 480 McClurg Ct. The closed price are ranging between $132,500 and $170,000 for unit with around 440 square feet and 550 square feet. I am very happy to annouce that I have helped two of my investor clients bought the cheapest two studios for the price of $132,500 in Dec 2011 and $134,000 in Sep 2012.

Also, we have found renters to move into these studios within a couple of days after the closing. The rental price is around $1,295 and $1,300 per month. I should say that the price is a little up just from these transactions, the unit closed for $132,500 is on a higher floor with better upgrades closed in Dec, 2011, I would say the price difference is $1,500 plus floor difference and the upgrades, so say around $5,000, that is around 4% increase. This is already considering that the closed price is really competitive compare to some even higher prices. So that being said, it is hard to get deals, what you see now, better start to grab it!

Another point is that the unit on higher floor with better upgrades rented out for $1,295 in Dec, 2011, and the one closed in Sep on a lower floor with not much upgrades have been rented for $1,300, that means the rental price is still going up!

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