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

New three bedroom two and a half bathroom at the 474 Lakeshore

February 10th, 2012 · Uncategorized

This unit is on a very high floor at ath 474 Lakeshore Dr, unit features 3 bedroom, 2.5 bathroom, with wood floor in the living room and kitchen. Marble bathrooms, granite kitchen counters. The most important is it has great views to the lake, so the fireworks are at your eye. It is currently listed for $5,700 plus $250 for one parking space, it has around 1,680 square feet. The 474 Lakeshore is a full amenity building with indoor pool, nice gym, 24 hour doorman, sun deck and a party room.

The 474 lakeshore is one block away to the Navy Pier and the lakefront, also it is very close to grocery stores, movie theaters and the shops on Michigan ave.

Please visit my new website at the http://www.helpfulchicagorealtor.com/ for a complete listing of properties for rent and for sale!

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New foreclosure listing at the 480 McClurg, the City view

February 10th, 2012 · Uncategorized

I just took my clients to see this new one bedroom foreclosure at 480 McClurg, this unit is facing the river slip and the lake, also with views to the nice fountain which shoot out every hour next to the river. It is a best location to see fireworks as well.

The unit smelled good, the carpet looks very new, the paint is also very fresh. The view is so great from both the living room and the bedroom, this unit is around 806 square feet and the listing price is $229,900 which includes a parking space and a use of a storage unit. Currently the building has around 30% renters, so it still allow new investors to rent their place out. The rent for this unit should be around $1,700 – $1,800 with the parking space. The assessment is around $450 including the parking space.

480 McClurg is a very strong building with current reserve of around $1.6m and it has never had special assessment before and does not have any planned special assessment. The location of the 480 McClurg is close to everything, grocery stores, restaurants, banks, gym, Navy Pier, Michigan ave, lake front and river walk!

 

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New rental listing at the 2970 N Lakeshore unit 16D

January 31st, 2012 · Uncategorized

I just had a new listing posted, which is located at the 2970 N Lakeshore dr Unit 16D. This unit is a studio/convertible, around 550 square feet, it overlooks the lake, facing north east, there is new marble kitchen and bathroom floor, new venity in the bathroom. Building has 24 hour doorman, storage unit, bike room, Laudry room, sun deck and grill. It is hard wood floor through out, the building is next to the lake front very close to grocery stores, restautants and transportation. The listing price is $1,200 per month which include the basic cable.

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Studios sold on the McClurg street comparision

January 20th, 2012 · Uncategorized

I have compared three buildings for the last 24 months sold studios, they are 512 McClurg, 440 and 480 McClurg, the units at the 512 McClurg is around 650 square feet and the see data below. But as an investor, you might want to know how much the rent is, the rent is between $1,100 to $1,350. 512 McClurg was built in 2003 and the 440 and 480 McClurg was built in 1990.
440, 480 and 512 Mcclurg last 18 month studio sold data
19-Jan-12
Building Sold Price Date Square feet Price per square feet
512 Mcclurg 3403 $172,000 July 8, 2011 650 $264.62
512 Mcclurg 2703 $177,500 June 24, 2011 650 $273.08
440 McClurg unit 1003 $150,650 September 9, 2011 550 $273.91
512 Mcclurg 5002 (foreclosure) $185,000 March 18, 2011 650 $284.62
512 Mcclurg 1608 $186,000 October 1, 2010 650 $286.15
512 Mcclurg 3109 $195,000 August 31, 2011 650 $300.00
480 McClurg 1214N $132,500 December 2, 2011 440 $301.14
480 McClurg 314 (Short sale) $135,000 July 15, 2010 440 $306.82
512 Mcclurg 2309 $202,000 January 29, 2010 650 $310.77
512 Mcclurg 4608 $210,000 February 17, 2010 650 $323.08
512 Mcclurg 4409 $220,000 August 25, 2010 650 $338.46
440 McClurg 1118 $151,500 December 3, 2011 440 $344.32
512 Mcclurg 5802 $225,000 June 23, 2010 650 $346.15
512 Mcclurg 5709 $225,000 June 19, 2011 650 $346.15

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5 N Wabash unit 1102 for rent furnished or not furnished

January 8th, 2012 · Uncategorized

This is a one bedroom plus a den unit at the 5 N Wabash, unit 1102. Wood floor through out the unit except the master bedroom, newly remodeled with new appliances and granite kitchen counter tops. The rental price is $1,995 per month. This is great for room mates or single family. The building is located at the prime downtown location.

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Showing one bedroom for rent at the New Eastside – Lakeshore east

December 21st, 2011 · Uncategorized

I had a client wants to enroll her son to the Ogden elementary school, so we have looked on the map for one bedroom unit for rent at the new eastside (including the lakeshore east) neighborhood. We have come down to 4 properties, one is located at the 155 N Harbor, one is located at the Columbus Plaza, 233 E Wacker Dr, one is the North Harbor Tower, 175 N Harbor Dr and the last one is the Chandler, 450 E Waterside. The price range is between $1,425 and $2,000 (this unit is furnished). Since the size of the units are similiar, my client has picked the cheapest one, the one bedroom at the Columbus Plaza.

During the tour, we noted that the rental buildings, such as the Columbus Plaza and the North Harbor Tower is 98% rented, and they are all full price right now, no consessions.

Find more details of all the available for rent properties at: http://www.helpfulchicagorealtor.com/chicago/property-types/rental

Remember to mention that you have found me on this website to receive a $25 gift card if you rent from me.

 

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Showing one bedroom facing east at the 8 E Randolph, the Joffery Tower

December 21st, 2011 · Uncategorized

I have a few clients who interested in viewing this unit, so I have got to show this unit at least 3 times so far. This is east facing large one bedroom unit with a balcony. Unit feature wood floor in the living room and kitchen area, marble counter in the kitchen, marble bathroom, large and full size laundry machine, side by side. SS appliances in the kitchen. This unit has over 900 square feet living space, lots of closets spaces too. It also have a good view of the lake. Joffery tower has a nice gym, 24 hour doorman and very easy access to shops, train, theaters etc.

Please find more details on http://www.helpfulchicagorealtor.com/

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3 bedroom, 2 and half bathroom for rent at the 1250 S Michigan unit 2302

December 5th, 2011 · Uncategorized

This is a three bedroom, 2 and half bathroom unit with wrap around balcony , north, east and south view of the city. Granite kitchen counters, Mable floor in the bathrooms, wood floor though out the unit. Great view in the unit.
The listing price is 3,200 including an indoor parking space.
Building has outdoor pool. Gym, 24 hour doorman, management office on site, party room, storage unit.
The building is located at the Roosevelt and Michigan, very good location with grocery stores, museums, restaurants, buses and so on.

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2 bedroom foreclosure at the 222 Columbus – Park Millennium

November 15th, 2011 · Uncategorized

There is a new foreclosure 2 bedroom 2 bath on a high floor at the 222 Columbus, the Park Millennium building, the asking price is $269,900, this unit does not have a balcony, it faces north east, you could see the new lakeshore east park in the unit. Park Millennium is a new building built in 2003, so the appliances are newer. This unit has around 1100 square feet. If you are owner ocupy, you could ask for 3.5% off of the closing cost.

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Last 12 months closed units at the 222 Columbus – the Park Millennium

November 2nd, 2011 · Uncategorized

There are totally 22 units closed in the last 12 months at the 222 Columbus Dr – the Park Millennium building. This is a big number, a big increament from the same time period of last year which only have around 15 units closed.

The closing price is ranging between $142,000 to $320,000, from studios to 2 bedrooms, the listing price is from $154,900 to $339,000, I have added all the listing prices and the sold prices and using the total sold prices divided by the total listing prices to get a % of the contract price to the listing price, which is 94%, see table for details below.

Unit # Most Recent listing price(K) Sold Price (K) Sale status Sold price /listing price
308 155 142 Foreclosure 92%
1606 161 150 Foreclosure 93%
312 163 170 Foreclosure 104%
1302 209 170 Regular 81%
410 170 173 Shortsale 102%
2805 197 175 Regular 89%
1207 198 183 Regular 92%
1610 175 185 Foreclosure 106%
3804 195 202 Shortsale 104%
3905 202 202 Shortsale 100%
4507 240 210 Foreclosure 88%
1001 229 212 Regular 93%
1410 225 220 Regular 98%
2310 260 232 Regular 89%
2901 249 232 Regular 93%
1112 248 240 Regular 97%
1310 250 240 Regular 96%
1608 280 251 Foreclosure 90%
2402 289 282 Regular 98%
3802 329 290 Shortsale 88%
1109 297 295 Shortsale 99%
709 325 297 Shortsale 91%
3402 339 320 Regular 94%
Total 5,385 5073 94%

Within the total 22 units sold, there were 6 foreclosure units, 6 short sale units, total distressed property is 12 units, which is 54% of the total units sold in the last 12 months, this percentage is higher than last year’s which is around 47% of the property sold is distressed properties.

Also, 4 distressed properties have sold price higher than the listing price, due to the listing price is too low so people have to bid up the price!

Another interesting thing is all the 6 one plue den unit, which is tier 01, 10 and 12 were regular sales, I think the reason being is these units have better views to the park and south view, so they could be purchased pretty fast!

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One bedroom facing south at the 400 E Randolph is rented

November 2nd, 2011 · Uncategorized

I have a couple of clients who were searching for rentals in the new east side neighborhood, which they told me that after walking around, they feel like they could settle down here. They both from out of town, we looked at the a few units at the 400 E Randolph and 360 E Randolph, 175 N Harbor ( the rental building). Then they have decided on a one bedroom unit facing south at the 400 E Randolph. This is a totally remodelled unit with nice furniture included. There is also a large balcony facing south with has specutacular view to the city and the lake.

The Outer Drive East building – 400 E Randolph is a full amenity building which has a lot to offer, from shuttle bus to the city, the nice newly remodeled gym, the basket ball court, the designer swimming lap pool, the kids’ play area, the library, the party room, the sun deck, a nice and convient restaurant, nail spa and massage etc.

 

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One bedroom facing the lake at the 512 N McClurg is under foreclosure

October 17th, 2011 · Uncategorized

There is a one bedroom unit facing the lake at the 512 McClurg for foreclosure, the asking price has dropped from $329,900 to $314,900. This unit in on the mid level, I went inside to check it for a potential client, it does not look good inside, needs some money to do upgrades. Here is a video tour that I took for this unit:

 

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One bedroom unit facing south at the 400 E Randolph

October 17th, 2011 · Uncategorized

I have a couple of clients from out of town and I found them this one bedroom unit facing south at the 400 E Randolph, which is also furnished. This unit has a lot of upgrades, from wood floor to open kitchen, new and nice appliances, new bathroom, the balcony is huge and the view is the most amazing! After viewing it, my clients have stayed at the lakeshore east park for some time and they have fallen in love of the park, the buildings and the neighborhood.

400 E Randolph is a full amenity building, it has 24 hour doorman, a shuttle bus to the Michigan Ave, new remodeled gym, nice designer pool, sun deck, party rooms, etc.

 

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Cheapest studio in downtown Chicago- 480 McClurg unit 1214

October 17th, 2011 · Uncategorized

This unit is listed by my coworker Kimbery Wong, I went to view this unit with a client last week and did a video tour. This unit has a lot of upgrades in the kitchen, the bathroom and wood floor. There are a lot of closet spaces through out, the unit is facing north, since the terrace is underneath the unit, it does have some spaces between the other buildings. The unit is listed for $140K, the recent priced short sale on a lower floor was closed for $135K, so this unit is priced so well.

Here is a link to the Video tour:

 

 

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New foreclosure one bedroom at the 160 Illinois in Streeterville

October 7th, 2011 · Uncategorized

I have noticed this one bedroom foreclosure at the 160 Illinois, which is listed for $234,900 on Oct 3, 2011, since there is no pictures in the unit, I went to visit the unit and did a video tour. Since the listing is still new and within the first 15 days of the listing, only home owners are available to purchase, plus they could ask 3.5% of the listing price to use as the closing cost, which would be around $8,221.  Starting from Oct 17th, investors are welcome to join the bid if the unit is not under contract yet. This unit has a balcony, the kitchen and bathroom both look very nice, only the room size is not big and there is not so much view in the unit. This unit can be rented for around $1,900 per month, so it is going to be a very good investment. I would think this unit has around 800 square feet.

Please check out the video below:

 

 

 

 

 

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New Foreclosure two bedroom unit at the Park Millennium – 222 Columbus Dr

October 5th, 2011 · Uncategorized

I just noticed a new foreclosure two bedroom unit listed at the 222 Columbus Dr, the Park Millennium buidling. This is a two bedroom facing northwest, from the pictures it looks OK inside. This unit has around 1,225 square feet and can be rented out for around $2,300 per month. Since this is a foreclosure unit, it was listed on Sep 29, 2011 for $289,900 , so right now only the home owner could get to see it first until after 15 days of the listing, then the investors could start looking.  Also, if the unit is closed by October 31, 2011, the buyer could request 3.5% of the final sales price to be used as closing costs assistance which is around $10, 146.50. As I am writing this post, we are already Oct 5th, so I would think only the cash buyers could close before the end of the month, then the closing cose would not be that much!

Park Millennium has just passed a new rule that no new investors could rent out their unit anymore since their renter ratio is too high, therefore, only home owners could purchase in this building, I am not sure it is a good thing to do this at this moment as maybe this new rule would drag the price down for a while…

Here is the video tour link:

 

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City Front Plaza rental building

September 13th, 2011 · Uncategorized

I have helped one of my clients rented a two bedroom units at the City Front Plaza – 400 N McClurg. This two bedroom unit is facing south east with beautiful river and lake view plus the city view. Large balcony with the unit, lots of closet spaces and two full baths, the rental price is around $2,200 per month, which includes the special of the one year free use of the gym.

I have a video tour here from the model unit, if you like this view, I would be very happy to help you to find a similar unit in the building.

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One bedroom for sale at the 400 E Randolph foreclosure is under contract, 400 E Randolph St Unit 1224

September 13th, 2011 · Uncategorized

I just noticed that this one bedroom foreclosure unit is under contract, this unit has around 825 square feet, large balcony, very nicely done inside, it was listing for $178k on 8/31/2011, and it went under contract on Sep 9th, 2011.  I would think the contract price would be around $170k.

The 400 E Randolph building was built in 1964 and it is still the largest building located at the new eastside. The building is called outer drive east and it is the first building in the neighborhood, it has just went through remodeling the gym and the common area. It has a nice indoor pool, new gym, kids’ play room, party room, Salon, restaurant, shuttle bus to the city, basketball court and so on.

The assessment for this one bedroom unit is $540 per month and the tax is $3,172 for 2009.

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