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

Upscale rental buildings in downtown get a boost

June 13th, 2010 · Uncategorized

There are a few new and upscale rental buildings in downtown Chicago get renters to pay around $1,500 per month for a studio again. We are talking about the economic downturns, but some of these rental buildings are completed rented, which is 100% tenants occupancy. These buildings are the Aqua building, the Tides and Shoreham Building.

Some rental buildings located at the west of the downtown area, such as 215 West, the alta at the K Station offers completely new look of the rentals, they have a full amenity floor, which offers a private theater room with the theater chairs, game room, internet room, basket ball court and all the other common areas. The new young and professional renters do not mind to pay a little extra for the rent these days to get new look of the apartment.

Other good apartments buildings are Flair Tower, Parc Huron, EnV Chicago etc. Since I am a licensed Realtor in Chicago, I would be happy to show you all these apartments and if you get to rent one, you would be entitled to received a gift card!

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Just rented – one bedroom at the Columbus Plaza

June 10th, 2010 · Uncategorized

One of my clients has just rented a one bedroom unit facing south at the Columbus Plaza, the one bedroom is around 800 square feet, has lots of closet spaces. The building has just remodeled the roof top, the new gym and there is an Internet lounge on the top floor with nice coffee. Right now they give specials to student for $1,275 per month no matter which one bedroom unit. For two bedrooms with the student discount it is around $1,800 per month for 1,300 square feet. So act fast if you would like to live in the city. The building is connected to pedway too!

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One plus den for rent at the 340 E Randolph

June 10th, 2010 · Uncategorized

I have a pocket listing of a one plus den for rent at the 340 E Randolph, the unit faces north, overlooking at the new lakeshore east park, it has a large balcony, around 1,200 square feet. The rent price will be $2,800 per month for a minimum of 12 months lease. The unit features bamboo flooring in the living room and the den, floor to ceiling window, GOURMET KITCHEN, FULL AMENITY BLDG. W/24 HOUR DOOR, INDOOR POOL, WINTER TERRACE & EXERCISE FACILITY.

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Two bedrooms for rent at the Park Shore, unit 2709 at 195 N Harbor Dr.

June 10th, 2010 · Uncategorized

I just had a two bedrooms for rent at the Parkshore, unit 2709, this unit features wood floor through out the living room and the den, they have changed the second bedroom to a den, it is faces north, so you will have the beautiful view to the lake, the Navy Pier, and the Chicago River. There are lots of natural light in the unit. The rental listing price is $2,350 per month which includes a self parking space in the Parkshore. The Parkshore is a full amenity building which features 24 hour door, a nice gym, a rooftop pool, a grocery store, an on site spa. The building is located at the New Eastside, which includes the Lakeshore East new development. Very easy access to the parks and lake front, the building is a pet friendly building, however this unit does not allow dogs…

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Three bedrooms sold at the New east side (including lakeshore east) in the last three months

June 1st, 2010 · Uncategorized

I have an amazing number to show you, the three bedrooms units sold at the New east side (including lakeshore east) in the last three months, there are 21 units closed and 3 are pending right now. This shows that the New east side (including lakeshore east) is doing great.

The sold prices are starting from $510,000 to $3.65M. There are 3 units above the 2M, 13 units between 1M to 2M, only one short sale at the Parkshore, sold price was $820K which is still pretty good, I would say the normal selling price would be around $900K. The data is also contributed by the Aqua building, which has 13 closed and 1 is pending.

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Three bedrooms units at the new east side

June 1st, 2010 · Uncategorized

I have quite a few clients are looking at the three bedrooms units at the new east side, they include condos and town homes. The building names from the oldest the newest are Outer Drive East – 400 E Randolph, the Harbor Point – 155 N Harbor Dr, the Buckingham Building – 360 E Randolph, the Parkshore – 195 N Harbor Dr, Park Millennium – 222 N Columbus Dr, the Lancaster – 201 Westshore, the Regatta – 420 E Waterside, the Chandler – 450 E Waterside, 340 on the park – 340 E Randolph and the Aqua – 225 N Columbus Dr. Also, there are some town homes located on the southeast of the new designer Lakeshore east park, they include 183 N Harbor Dr. The new town homes underneath the Aqua building, such as 198 N Park Street.

I did a map search for all the active 3 bedrooms in the above buildings, there are totally 23 three bedrooms  on the market, and the cheapest one is located at the 201 N Westshore, there are two units available from $568,999 with 1,500 square feet, I think these were two plus dens and they have closed to the den and then renamed as three bedrooms, that’s why their space is not large. The most expensive one is also located at the Lancaster with the listing price of $2.25M with 3,500 square feet.

My favorite one is located at the 340 E Randolph, this unit has around 2,300 square feet with great views to the grant park, the lake with the south shore line, all the sky lines, the price was listed right under 2M. I also like the town homes under the Aqua building!

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Thoughts after some rental showings at the new east side

June 1st, 2010 · Uncategorized

I had quite a few rental showings these days, I would like to mention some tips for the landlord!

1) Always make sure that the unit is professionally cleaned, carpet has been professionally shampooed.

2) Make all the appliances are in good working condition, if you do not live in Chicago, better get some new appliances instead of trying to fix the old ones all the time.

3)Paint is very important, make sure it is fresh and professionally painted.

The above tips will make your unit shown very well and so easy for you to find a renter too. Of course finding the right agent is the key too as during my showings, some of the listing agents have never been to the place before and they do not even care of all the details in the unit. These kind of units would sit on the market for a longer period of time, actually all of the above expenses should be less than one month rent in this neighborhood.

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showing of the 3 bedrooms town homes underneath Aqua

May 29th, 2010 · Uncategorized

Today I had a showing of the 3 bedrooms town homes underneath aqua, both my clients and myself are impressed with the interior design, the layout of the aqua townhomes. They have floor to ceiling windows in every room, so there is a lot of natural light in the unit. the room size of the units are quite large, there are lots of closet spaces. All the three bedrooms unit has around 3,200 square feet with the same lay out, just a little bit different views to the new lakeshore east park. The prices are between 1.6M -2M. The 2M is the model and has lots of upgrades in the unit.

The amenities are the best in Chicago, everything you can think of! Movie theaters, basket ball court, nice and huge gym, indoor and outdoor pool. The business center, all the rental units are rented so far.

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The 2 bedrooms foreclosure at the 400 Randolph is still on the market

May 25th, 2010 · Uncategorized

The 2 bedrooms foreclosure unit 3802 at the 400 Randolph is still on the market after the price reduced to $264,900. This is a combined two bedrooms unit, from two junior one bedrooms unit. I have seen the unit, it does not look in a very bad condition, just need some door repair, clean the carpet, new paint, maybe some work in the kitchen cabinet, otherwise, it looks good.

If someone wants to buy investment, say they pay $250,000 to get this unit, with 25% down payment, their total mortgage will be around $187,500, monthly payment based on 5% interest of fixed 30 year for $1,008, the assessment is $773, the property tax is $3,476 for 12 months, so each month is $290 per month, so the total expenses should be $2,070. The two bedrooms in the building listed for rent at $2,200 per month, so let’s assume that you could get a renter of $2,000, still make it even, that means the renter would help you to pay off the mortgage!

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Rent price is going up in Chicago downtown

May 24th, 2010 · Uncategorized

(Crain’s) — A construction wave coupled with 11.2% unemployment would normally make life miserable for apartment owners, but downtown landlords are holding up surprisingly well.

The occupancy rate for top-tier downtown apartment buildings rose to 93.6% in the first quarter, up from 91.4% in the fourth quarter and 90.9% in the year-earlier period, according to Appraisal Research Counselors, a Chicago-based consulting firm. Please visit www.chicagobusiness.com/cgi-bin/news.pl?id=38336 for more details.

The rental building prices are the new east side is going up too. For example, at the Columbus Plaza, the one bedroom was rented for $1,275 just a couple of weeks ago, now they have increased to $1,350 for the flat rate, the North Harbor Tower was $1,250 and now to $1,400 per month, the Shoreham was running specials of $1,495 for any one bedrooms, and now the cheapest one is asking for $1,708 without a parking space. I did not check the price for Aqua yet, but I am sure it is going up even more, when I was checking a couple of months ago, they told me it was $1,750 for a one bedroom without parking.

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2+Den at the Parkshore is rented – 195 Harbor unit 508

May 24th, 2010 · Uncategorized

This two plus den unit is rented after listing up for 2 days. This unit has around 1,300 square feet, it has very nice view to Navy Pier, the lake, and the new lakeshore east park. This building is located at the new east side, the rented price is $2,400 which is the listing price, that means we have priced this unit in a reasonable amount, there is a parking space included in the rental price. The rent also includes water, basic cable, gym and outdoor pool on the roof top, not to mention all the other amenities in the building, which includes but not limited to 3 times to use the two party rooms at the park shore for free of charge each year, the grocery store on site and a nice full service spa on site too.

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Two bedrooms Plus Den for Rent at the Parkshore, 195 N Harbor Dr

May 18th, 2010 · Uncategorized

I just had the two bedrooms plus den listed for rent at the Parkshore today, 195 N Harbor Dr. unit 508. This unit has lots of upgrades, new appliances, Venmar vent, Dacor stove, Fisher & Paykel dishwasher, Amana Fridge, Double deep sink, will get brand new washer & Dryer. Kitchen has granite counter tops, maple hardwood floor throughout the unit. Marble entry whirl pool in the master marble bathroom. Steam shower in guest bath room nice built-in in the closets. Corner 2 bedrooms + den with stunning views of lake and park. No pets or smoking. Credit report and security deposit required. Garage parking included. Available July 1st! 42″ flat screen TV in included in the rent. The rent price is listed for $2,400 including a self parking spot. Please contact me if you are interested.

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2010 RACE IS SOLD OUT!!! Sunday, May 16, 2010 — Race Start: 7:00am

May 14th, 2010 · Uncategorized

There is a junior race tomorrow at the lakeshore east park, this is going to be fun for kids between 2-12 years old. We were there last year and did not know there was a race, but my daughter was racing with them actually she was following them:-) As she knew that she did not have a number, this year we are going to register for her!

I am sure you will see lots of neighborhood kids.

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How to be a great Real Estate agent!

May 14th, 2010 · Uncategorized

It is always hard to be a great agent, especially in today’s market. We need to be professional, to be 10 times more patient than the regular market!

There are so many things that go into being a great agent.  But, at the end of the day, when we think of those agents whom we love working with, they usually have many of the same characteristics.  They all show up when they are supposed to, return our calls (even when they are small questions and feedback), they are respectful, courteous and always working with us to either help get our deal done or help us in any way that they can.  We are excited to work with them when we can, and also value them as an agent.

That is the reputation that we should all be striving towards.  We  receive many emails and phone calls for feedback or information, we should answer them all, especially if they are coming from our own company,  Everyone’s time is precious, no one’s time is more important than another’s.  The agent that is prompt,  is appreciated, and if we are running late or can’t make the requested appointment, letting that agent know as timely as possible so that we are not dismissing their efforts and schedule as less valuable than ours is essential.



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2 bedrooms foreclosure at the 400 E Randolph just dropped $25,000

May 11th, 2010 · Uncategorized

I just noticed this top floor combined two bedrooms unit has dropped $25,000 today. This is a foreclosure, so they must did not have an offer for it for the last two weeks since it was reactivated on April 27, 2010. This is a great deal if you would like to stay at the New East side. The building has just finished remodeling the indoor pool, the nice new gym. It has free shuttles to downtown every half an hour. This unit needs some work, such as new carpet, and some of the closet door needs to be put up together. It does not have a balcony either.

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Rent one bedroom unit at the Columbus Plaza – the cheapest one bedroom at the new east side

May 10th, 2010 · Uncategorized

I have helped my client rent a one bedroom unit at the Columbus Plaza on Friday. Right now they have a special flat rate running for $1,275 per month for the south facing units, no matter which floor, this is a great deal compare to the neighborhood rental buildings, such as North Harbor Tower is asking for $1,595 for a one bedroom unit. This one bedroom unit has around 800 square feet, very spacious, large walk in closet in the bedroom. Living room and bedroom has great views to the Buckingham Fountain, very sunny and comfortable. There is a nice gym on the top floor with an Internet room. If you are a student, you will be waived for the $400 security deposit fee. There is only a $50 application fee. Another good thing is that when we are signing the contract, they took off $350 from my client’s first month’ rent! That means he got a $350 credit on top of all the goodies! The Columbus Plaza is located at the 233 E Wacker Dr. Which is one block away to the Michigan Ave. also there is a Pedway in the building, so you could walk to the Randolph train station without going outside!

The current studio rate at the Columbus Plaza is starting from $1,148. this is a great price!

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1 bedroom closed at the 222 columbus Dr

May 10th, 2010 · Uncategorized

My client has bought the one bedroom unit at the 222 Columbus Dr, this is a nice one + den unit, it faces south east. Very nice view to the Millennium park, the face fountain, the new Aqua park, the new lakeshore east park. It has around 800 square feet. Very nice and new granite kitchen with SS appliances, nice granite bathroom. I like the little study den, as you could use it as a den or a dinning area. The listing price was $265,000 and the closing price was $248,000. This building is a walking building to the places around with the pedway built in the building. Really convenient!

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Two bedrooms foreclosure at the 400 E Randolph was back on the market again

April 30th, 2010 · Uncategorized

This two bedrooms unit is a combination of two junior one bedrooms with total of 1,300 square feet. I showed this unit to a client yesterday and noticed that the living room is quite large, plus there is a family room and two nice size rooms. This building has just remodeled the nice gym and pool. The two bedroom price is $289,000 and this listing price is around $80K lower than the other two units combined. The foreclosure unit is on the top floor. This went to pending and came back to the market again.

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