We have new owners at the Parkshore Market now, we are so lucky to get someone to take over the old lease with no downtime. Currently the store opening time is longer than before, it opens from 8am to 11:00pm in the evening. The extra hours make a big difference. It looks like they have put in some new lighting, it is brighter and cleaner than before. I did not get a chance to check out the deli section yet.
Parkshore Market – the grocery store has changed owners
October 28th, 2010 · Uncategorized
→ 1 CommentTags: 195 n Harbor·parkshore grocery store·parkshore market
3 bedroom unit showings in downtown Chicago
October 20th, 2010 · Uncategorized
I showed some 3 bedroom unit in downtown yesterday. We started at the one Museum Park East, this building was built last year, the three bedroom unit has never been lived in before, however, the developer is doing some remodeling job to enlarge the master bedroom. The asking price is $1.49M, the agent told me that the price is very negotiable, she mentioned a number to me but she did not want me to share that with my clients… My clients are not very impressed with this unit or the building.
Next we went to one of my favorite buildings – 340 on the park. We looked at one 3 bedroom unit with amazing sweeping view of the lake, the city, the parks and the river. This unit has all bamboo floor throughout, the owner has put in a warm drawer, a wine coller and some cabinet’s space. I did hear some clients complain about the cabinet’s space is not enough. The asking price for this unit is $1.95M plus additional for parking spaces. My clients love this building, this unit, the great view a lot. The only question is that the room shape is kind of irregular shaped so it is hard to put a bed. But there are lots of sun light in the each room since there are so many windows.
Our last stop is 600 N Lakeshore Dr. There are some resale units and some new construction units that have never been lived in. My clients love the building and the interiors. The three bedroom unit is around $1.4M – $1.9 M not including parking.
→ No CommentsTags: 3 bedroom at the 600 n lakeshore dr·3 bedroom unit at the 340 on the park·3 bedroom unit at the museum park·beautiful 3 bedroom unit at the 340 on the lake·lakeshore east park
New rental listing, beautiful woodfloor two bedroom unit on high floor at the Parkshore
October 14th, 2010 · Uncategorized
This is a great two bedroom unit on the 51st floor of the Parkshore, the wood floor is around 3 years old and new paint – around 2 years old. Very clean and sunny apartment and the second bedroom opens up with a nice French door. The floor is marble at the entry way and kitchen and there is a washer and dryer in the unit. It is around 1,200 square feet and a bonus is that valet parking is included in the listing price which is only $2,300 per month. This is the least expensive two bedroom unit for rent in the building.
The Parkshore is a full amenity building which features a grocery store on site, a spa, roof top pool, and a nice remodeled gym. It has two large party rooms, tennis court, and grilling area…
→ No CommentsTags: 195 harbor two bedrooms for rent·195 highfloor two bedrooms for rent·195 n Harbor·harbor dr two bedrooms for rent·lakeshore east two bedrooms woodfloor for rent·new eastside two bedrooms wood floor for rent·parkshore cheapest two bedrooms for rent
Current Listings in the New Eastside neighborhood
October 13th, 2010 · Uncategorized
I did a map search for all the current condos for sale in the New Eastside neighborhood, there are a total of 178 current listings, ranging from $130,500 – a studio at the 400 E Randolph to a four bedroom unit at 450 Waterside listed for $4.8M. The neighborhood including 10 buildings:
400 E Randolph – Outer Drive East Building, built in 1963
360 E Randolph – The Buckingham building, built in 1982
155 N Harbor Dr – The Harbor Point building, built in 1973
195 N Harbor Dr – The Parkshore building, built in 1992,
222 N Columbus Dr – The Park Millennium building, built in 2001,
201 N Westshore – The Lancaster building, built in 2004,
420 E Waterside – The Regatta building, built in 2007,
340 E Randolph – The Chandler building, built in 2007,
450 E Waterside – The Chandler building, built in 2008,
225 N Columbus – The Aqua building, built in 2010.
The last 5 buildings on the list along with 2 rental buildings are in a development called Lakeshore East – so Lakeshore East is within the New Eastside neighborhood.
Currently all the Aqua rental units have been rented, there are 25 units for sale, some still by the developers and some by the unit owners.
There is a park built within Lakeshore East which has a nice kids’ playgroud, a dog park and a large green area, and there are fountains throughout the park. Right now a 50,000 square feet grocery store is coming next spring and we are still looking forward to and elementary school planned for the neighborhood.
→ No CommentsTags: 195 n Harbor·222 n columbus·225 n columbus·340 e randolph·340 on the park·360 randolph·400 e randolph·400 e randolph cheapest studio in the neighborhood·420 waterside·450 e waterside·the aqua building current available units for sale
13 units closed at the 340 E Randolph – 340 on the Park
October 13th, 2010 · Uncategorized
In the last 6 months, a total of 13 units closed at 340 E Randolph – 340 on the Park. This is a big number for this economy, so from here we could see that the movement of the new buildings or the buildings that have great views would sold a lot faster. The price of the units sold are range from $667,000 to $3,650,000, they are between 1 bedroom to three bedrooms units. I remember when the one bedroom unit came out, they were around $450K for the ones that facing south of the grant park, we were asking ourselves how we could fit our family into a one bedroom unit, but right now the price of the one bedroom facing south closed at $710K. That being said, if you are an investor, not only you need to find the best value, but the view, view, view is the most important. I think this is the only building where the value has held up high and is still very strong.
→ No CommentsTags: 340 on the park·one bedroom south facing at the 340 randolph
Remodeling thoughts? Wood floor is a must…
October 13th, 2010 · Uncategorized
I just went to a class to study how to save energy and be GREEN, what I have learned is that no matter how you clean your carpet, it is going to be super dirty, after some years of usage it is normally 3-4 times heavier than the new carpet because of all the dirt and junk that has accumulated. In our condo, we only have a hard wood floor in the kitchen and the entrance way, but I have been cleaning there almost everyday. As for carpet, we are only vacuuming every week or so. But even with the best vacuum cleaner, how much can it get up? So we are thinking about remodeling our unit to get wood floor installed.
We had someone do an estimate for our place to put in a maple wood floor throughout the unit, it is going to be around $10,000 and we would have to have a two week window to do it. I can’t wait to have a new wood floor in the unit! But I also know that is a lot of work!
Rental showings at Museum Park
October 4th, 2010 · Uncategorized
I had two rental showings at Museum Park today. We went to see two bedroom units at towers IV and V. Both units are in very good condition, very new with large balconies and great views to the lake and the museum campus. The large two bedrooms are around $2,500 – $2,600 including a parking space. The building has all the amenities you would expect and more including indoor swimming pool, gym, party room, and a media room.
The two buildings we visited are 1235 S Prairie and 1322 S Prairie. They are right on Roosevelt Ave with easy access to the highway, downtown shops and Grant Park.
→ No CommentsTags: 8 e randolph·museum park rental showings·new appliances·two bedrooms for rent at the museum park·wood floor at the museum park
Seven units closed in the last 6 months at the 155 N Harbor – the Harbor Point
October 1st, 2010 · Uncategorized
There are total 6 units closed within the last 6 months at the 155 N Harbor Dr. The price is between $277K for a one bedroom to a $460K short sale two bedrooms facing the lake. The short sale is really a good deal as it is a tier 12 which has complete lake views, plus the unit is in good condition, just need basic changes and then it could be moved in. Such as carpet and paint.
Currently there are 4 units under contract with listing price ranges between $255K and $465K. There are 24 current listings including studios, one bedrooms, two bedrooms, three bedrooms and four bedrooms. Since this is a large building, therefore the current listings percentage is pretty good for this building. This building is very well maintained with full amenities!
→ No CommentsTags: 155 N Harbor·last 6 months sold at the 155 n harbro·last 6 months sold at the harbor point·the short sale two bedrooms unit closed at the harbor point
1 bedroom unit 1502 at 5415 N Sheridan is rented
October 1st, 2010 · Uncategorized
We have posted this unit for rent right after the closing of purchasing this unit, after three days of being posted, we have got a showing request, then the potential renter liked this unit since it has great views to the lake from both the living room and the bedroom. It has large room size, pretty nice kitchen with newer appliances. The owner likes to go with the tenant, so we have rented this place out within three days and the tenant moved in within 2 weeks of the place being purchased! I am so happy for my client.
The location is great with good transportation to the city, both red line and the 147 express bus.
→ No CommentsTags: 5415 n sheridan one bedroom rented·east facing one bedroom at the 5415 n sheridan·lakeshore east park
Downtown Chicago Condos: The Pulse of Chicago Nightlife
September 30th, 2010 · Uncategorized
If you’re a night owl, you’ve probably heard about the nightlife around downtown Chicago condos. The scene in the Windy City is diverse and unmatched—New York may be the city that never sleeps, but that doesn’t mean that Chicago goes to bed early. That being said, it should come as no surprise that the city is chalked full of late-night lounges, bars, and clubs. Here are some of the most luxurious night spots in the city.
Roof
Roof boasts an unbelievable view of downtown Chicago—the skyline, the lake, you can see it all. But the bar is, ultimately, a place for Chicago’s elite to see and be seen. Socialites, actors, and athletes have all been spotted sipping cocktails on the 27th floor of the Wit hotel.
Roof is a dance club, first and foremost, and some of the biggest djs have performed here. But if house music isn’t what you’re interested in, check out the lounge, where you can enjoy Roof’s renowned appetizers and small plates, including their delicious seared Ahi tuna.
Potter’s Lounge
Whether socializing with friends in a lavish booth, or nursing a cocktail alone at the bar, you can’t help but feel cool at Potter’s Lounge. The warm hardwood floors and sleek L-shaped couches create a vibe that’s straight out of Mad Men, and the stiff drinks come with a bite that would make Don Draper smile. Adventurous cocktail connoisseurs should try “The Little Green Fairy” made from incredibly rare brand of absinthe, le tourment vert absinthe.
The Bar at the Peninsula
It only makes sense that one of Chicago’s most extravagant hotels would also be home to one of its hottest cocktail bars. The sleek décor is what you’d expect from the renewed hotel chain—large sunken lounge chairs placed around the bar’s fireplace, and the absence of overbearing music, creates a cozy ambiance that is both elegant and modern.
More than just another bar with the top-shelf cocktails—it’s the intimacy here that makes this bar so charming. Club goers may be disappointed by the subdued crowd, but those who value handmade martinis and good conversation will almost certainly be impressed by what The Bar at the Peninsula has to offer.
Base Bar
Base Bar brings all the glitz, glamour, and excess of Las Vegas to Chicago’s Hard Rock Hotel. The lounge is adorned with chic, modern pieces that only reinforce the urban sensibilities that have been long been associated with the hotel chain. Inventive appetizers and group seating make it an ideal spot for after-work drinks. But it’s Base Bar’s renowned dance club that has made it the go-to spot for some of the world’s biggest musicians, including Lady Gaga, who made the bar her base camp during Lollapalooza weekend last August.
Whether want to dance to techno music till the wee hours of the morning, or sneak off into a lounge for a quiet cocktail, Chicago has what you’re looking for. It’s one of the many reasons why some many Chicagoans have fallen in love with our downtown Chicago condos.
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Last 6 months sold at the 8 E Randolph – the Joffery Tower
September 23rd, 2010 · Uncategorized
There are 4 units closed at the 8 E Randolph during the last 6 months, the price is between $240K to $485K including 2 one bedroom units and 2 two bedrooms units. So the square feet price is around $300 per square feet, which is quite reasonable in the neighborhood, consider it is a new construction, this for sure is a very good price!
→ No CommentsTags: $300 per square feet at the 8 e randolph·8 e randolph·8 e randolph last 6 months sold
Renters’ love – 8 E randolph the Joffery Tower
September 23rd, 2010 · Uncategorized
I had a few listings here for rent in the last a couple of years, people do really like this building, if you price it right, it could be gone so fast. These are the things that people like to rent in this building:
1) It is a new construction,
2) It has floor to ceiling windows,
3) The rent includes everything, even the Internet connections, renter only pays electricity which is super low…
4)All the wood floor, marble baths and granite kitchen with SS appliances,
5) The best location in the city, walking distance to all public transportation, the theater district, shopping area…
6) The room size is so large compare to some other buildings in the city,
7) The nice size balcony is a plus for everyone too…
8) A large gym with good street view other than in the basement,
I am sure if you rented here you will never want to leave. There is one draw back is that the parking is super expensive around $300 per month! So if you do not need a car, this is a really great choice!
→ No CommentsTags: 8 e randolph·8 e randolph rentals·balcony at the 8 e randolph·great downtown location 8 e randolph rentals·joffery tower rentals·large room at the 8 e randolph·new construction 8 e randolph rentals·new construction joffery tower rentals
8 units closed at the 222 Columbus Dr in the last 6 months
September 21st, 2010 · Uncategorized
I am surprised to see that there are 8 units closed at the 222 Columbus Dr, the park Millennium in the last 6 months. There are three one bedroom units, three two bedrooms units and two three bedrooms units. The prices are ranging from $225K to $675K, the square feet is between 700 to 1,850 square feet. There are two two bedrooms units are foreclosures, the price was $$290K and $340K.
The Park Millennium was built in 2003 and it is located at the new eastside, next to the lakeshore east development, the building has full amenity and it is a well managed building. It has indoor pool, nice gym, party room and Internet room, sun deck, grills, also it is linked to the Chicago Pedway, this is very convenient for the Chicago cold winter weather.
For investors, if you have cash, this is a good place to purchase as it is so easy to find renters with pretty good prices. But if you do need finance, that will be a different story as the renter to owner percentage is over 53%, so no conventional renters. Only private lenders, but most of them would like to loan to owners with more than 25% down payment.
Each unit feature washer and dryer, nice bathroom size and kitchen, the living room and bedroom is OK, sometimes we would say they are a little small.
Currently there are 15 units for sale ranging from $184,500 to $339,770.
→ No CommentsTags: 222 columbus dr·222 columbus sold in the last three months
2 bedrooms furnished apartment at the 8 e Randolph is rented
September 20th, 2010 · Uncategorized
This is a nice two bedrooms apartment unit at the 8 E Randolph Str. It is very large of around 1,400 square feet with two large bedrooms, a walk in closet, unit features granite counters, wood floors, large balcony, it has all great appliances and washer and dryer in the unit, we have got all the great furniture in the unit and rented out for $3,200 per month.
→ No CommentsTags: 2 bedrooms furnished for rent at the 8 e randolph·8 e randolph
1 bedroom foreclosure at the 5415 Sheridan just closed
September 20th, 2010 · Uncategorized
One of my client has bought a one bedroom unit at the 5415 Sheridan, this is my first experience as representing the buyer to get a foreclosure unit. We have paid the listing price which is $129,900. We have tried to negotiate, but there is no room with the bank for negotiations. The procedure is quite similar compare to a regular purchase, no surprises during the attorney reviews and stuff. One thing I would like to mention is the buyer’s loan is from Bank of American and their service is quite horrible, we had to go to the closing twice and then they even asked us to go to the title company for the third time! We have finally closed but my recommendation is if you need a loan go to a mortgage banker instead of going to a bank to get a mortgage, with the daily change of the mortgage rules, it is very distressed to work with them directly. A good mortgage banker could make sure that you close the property on time, ours have been postponed twice to around 13 days!
→ No CommentsTags: 5415 n sheridan one bedroom closed·5415 n sheridan one bedroom foreclosure·foreclosure closing·mortgage banker
4 bedrooms foreclosure at the 400 E Randolph is closed for $370K
September 20th, 2010 · Uncategorized
Finally the combined 4 bedrooms unit at the 400 E Randolph is closed for $370K on Sep 9, 2010. The listing was out on June 15, 2010 and it was contracted on July 26, 2010, four days after it dropped from $394,900 to $374,900 on July 22, 2010.
This unit has around 2,400 square feet with two large balconies, this is a great price for the size of the room in the new eastside neighborhood. Although both kitchens have been taken out, it is still a good investment property as far as to put in some money to restructure of the unit and then rented it out!
I have showed this unit right after the price deduction, however, my client’s offer is too low comparing to the other offer. Since the price is very low, normally it is hard for the bank to drop more, such as this example, the final closing price and the listing price is only, $4,900 difference, which is around 1.3% of the listing price. Therefore, we learned again that the room for negotiation of the distressed properties is very small, normally it is less than 3%.
→ No CommentsTags: 4 bedrooms closed at the 400 e randolph·4 bedrooms foreclosure sold at the 400 e randolph·400 e randolph 4 bedrooms foreclosure·closing price of the 4 bedrooms foreclosure at the 400 e randolph·good priced 4 bedrooms foreclosure at the 400 e randolph
New Shortsale at the Parkshore – 195 N Harbor Dr
September 3rd, 2010 · Uncategorized
There is a two bedroom or one plus den facing north east has been put up on the market with a short sale situation, the listing price is $459K which includes a valet parking space. There are not too much descriptions about the unit or pictures, so it is hard to see if the unit has been remodeled. This listing price is not so much cheaper comparing to the other regular sale prices.
Currently there are 14 units for sale in the building, 2 one bedrooms units listing price is between $249K and $259,900, 4 small two bedrooms or one plus den units between $459K to $519K, 5 two plus den units between $469K and $589K, 3 three bedrooms units from $849K to $989K. There are two one plus dens are under contract.
There are also 6 rental units available starting from $2,100 per month.
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The Foreclosure 2 bedrooms at the 400 E Randolph has dropped another $20K
August 10th, 2010 · Uncategorized
This two bedrooms unit at the 400 E Randolph is a combined unit between a junior one bedroom and a studio, so the size is larger than a regular two bedrooms unit. It is on a very high floor, you get some lake view from the unit. I would anticipate the contractor work for about $20K to $30K to make it into a great place.
The asking price is $244,900, this is dropped from $309,900 in Jan 2010. The current tax rate is $3,475.86 and the current assessment is $773. So that means $1,063 cost per month. After fix it up, you can easily rented out for $2,200 per month, then that means you have $1,100 help to pay off your mortgage. Assuming that your loan amount is $180K, your monthly payment is only $966. Right now it is very difficult to find anywhere with a positive cash flow!
→ No CommentsTags: 400 e randolph·best deal 2 bedrooms at the new east side·best deal two bedrooms at the 400 e randolph·best deal two bedrooms at the lakeshore east·foreclosure 400 e randolph reduced 20k·foreclosure two bedrooms at the 400 e randolph
