Columbus Plaza at 233 E. Wacker is probably the best deal for a rental building in the New Eastside neighborhood if not all of downtown Chicago for several reasons.

1. The prices are very good compared to anything else in the area.
2. The location is almost unbeatable. You’re very close to the Lake, right on the river, one block from Millennium Park, and compared to other buildings further east in New Eastside, Columbus Plaza is right in the heart of all the transportation links with many bus lines on Michigan Ave. and rail at the Millennium Park station.
3. Being right on river, the views are incredible.
4. The units are big compared to the new buildings.
5. There are many amenities and shops right in the building and very close along the pedway which goes in three directions from Columbus Plaza.

Obviously there are reasons it’s less expensive than say Aqua right across the street, namely that it’s a bit older building compared to all the new construction from the last 10 years (Columbus Plaza opened a little more than 30 years ago – http://www.emporis.com/building/columbusplaza-chicago-il-usa), but the price and the plusses listed above are compelling.

Read the reviews on Yelp and elsewhere (they are mixed), and keep in mind to get similar sq. footage anywhere around this location you’d be spending 25-50% more. If you are interested in renting here, I’d be happy to show you Columbus Plaza and other buildings in the area to compare.

If you’re looking for a good deal downtown or just being frugal with how you want to spend your cash, Columbus Plaza deserves a look. If you are looking to rent downtown, please give me a call and let me be your guide. I am very familiar with the options downtown and surrounding neighborhoods and am eager to help find you your ideal rental!

The game will be broadcast on ESPN and will be displayed on a roughly 20 by 33 foot screen at the Petrillo Band Shell. From our unit at the Parkshore, we have a southwest view framed by Outer Drive East and Harbor Point centered on Butler Field and the Petrillo Band Shell, and it’s something of a game for us to figure out what event is being set up or going on on any evening in the summer. I think a World Cup Qualifier Viewing Party will be a first.

The game starts at 8 p.m. and they will be playing against Honduras. I do remember a ton of Honduran soccer fans in Chicago a few years ago, it must have been a World Cup Qualifier game here in Chicago at Soldier Field?

In addition to the game at 8 p.m., there will be pre-event activities including pickup soccer games and a youth soccer clinic starting at 4 p.m., so if you’re looking for something to do with the kids that evening, that might be a nice change from hanging out in the Lakeshore East park or going to Mariano’s for ice cream.

http://www.chicagorealestatedaily.com/article/20130606/CRED0701/130609896/what-house-can-you-buy-for-10-million-and-up

I’ve listed the Chicago properties first:

• 401 N. Wabash Ave., Chicago. Price: $32 million. Owner: Donald Trump development venture.
• 1547 N. Dearborn Parkway, Chicago. Price: $18.8 million. Owner: Ann Lurie trust.
• 1870 N. Howe St., Chicago. Price: $10 million. Owner: Joseph G. Nicholas venture.

The rest are in the suburbs, mostly north and far north.

• 68 Locust Road, Winnetka. Price: $21.9 million. Owner: Sherwin Jarol trust.
• 2700 Point Lane, Highland Park. Price: $21 million. Owner: Michael Jordan.
• 2000 Ridge Road, Highland Park. Price: $17.5 million. Owner: Harry D. Oppenheimer II.
• 8 Kaleigh Court, South Barrington. Price: $16.9 million. Owner: Jorie Johnson trust.
• 344 Old Sutton Road, Barrington Hills. Price: $14.9 million. Owner: Forsythe Building Fund.
• 405 N. Mayflower Road, Lake Forest. Price: $12 million. Owner: First Bank & Trust Co. venture.
• 925 Sheridan Road, Lake Bluff. Price: $9.99 million. Owner: Blair family estate.

You have to wonder if the recent upturn in the real estate market caught them by surprise and they could have priced units a little higher.

In any case, I have shown this building several times and I can say it is very nice and at the same time a bit unique. The gym and overall decor are phenomenal. The building is squarely in the high density Loop and is shared with office space on the lower floors. There is a separate residential entrance for the 10 floors of condos, so it has a very different feel from say the nearby all residential condo buildings in the New Eastside neighborhood.

Read more on Crain’s.

Read more on Crain’s.

If you’ve been waiting to list, now might be a good time. Drop me an e-mail or give me a call if you would like me to help you determine a reasonable listing price.

Try it out and let me know what you think. Plug in your own mortgage details and see if it’s working as you’d expect.

The River East building has lots to offer, which include but not limited to 24 hour doorman, management office onsite, gym, card laundry, receiving, dry clean, party room, sun deck, etc. The AMC theater is the building too. 512 McClurg is located in a very nice neighborhood, with lots of restaurants, buses, close to Navy Pier, the lake from, the Michigan shopping area…

From the above, we can tell how hot is the market now and Parkshore is such a demanding building. Also, I really like the two bedroom plus den set up as there is room for you to change it to a small three bedroom. Parkshore has a lot to offer too! It has a roof top pool, a nice gym, grocery store onsite, 24 hour doorman, onsite management office, very stable reserve, etc. Parkshore is in a great location, which is located in the lakeshore east area with walking distance to the grant park, the millennium park, the Lakeshore East park. Next to the lakeshore dr, the Navy pier and the Chicago river.

Parkshore is a very well maintained buildings, built in 1991, with reserve over 2.4m, no specials. Building is offering 24 hour doorman, gym, roof top pool, grocery store onsite, spa, two party rooms, grill, etc.

I went to view this property with a client yesterday, the listing agent told us that there are already 25 offers and lots of people coming to see the property. It was sold by Wells Fargo and the price was given by Wells Fargo. The agent was sending the market analysis during the weekend, so maybe they will increase the price accordingly.

Investing in U.S. properties

Positive investment trends are developing in many US metro real estate areas and getting a quick profit turn-around on an investment property is not only possible, it is highly likely. Considering the steady increase in prices for properties, this trend will undoubtedly continue for some time. One reason for this is the anticipated inflation that will occur in the coming year. As the prices for building goods and services increases on the commodities market, so do the prices of homes, both new and existing. The cost of maintaining properties will remain steady or decrease, resulting in an increase in overall income from the property.

There is also a steadily increasing demand for rental housing and a great deal of competition among prospective renters. This will stimulate rent prices and improve the income opportunity for the property investor.

When it comes to investing in American properties, there are many choices. Brand new constructions may be attractive to prospective buyers, but experienced investors may prefer less physically attractive properties such as multi-family properties or structures in need of repairs and renovations. The rate of bank foreclosures is still relatively high in many cities across the country, offering ample opportunity to get great deals on real estate. These distressed properties offer great returns, particularly for foreign property investors, with the added benefits of ease of management and a variety of strategies for ending the investment in a positive and profitable way.

For US-based investors, the real estate outlook is equally good, with the only real question being how they can position themselves to take advantage of the investment surge both quickly and safely.

Best US cities for real estate investors

The economic downturn has led many people to leave their homes and flats in and around the major metro areas for smaller towns with a lower cost of living. Large cities, such as New York, San Francisco, Atlanta and Washington D.C., continue to remain favorites among savvy real estate investors. Houston, Miami and other major urban areas are also emerging as excellent locations for picking up high quality properties at reasonable prices and many investors are taking advantage of the opportunity.

Many real estate investors are also beginning to take advantage of the lucrative market outside of these cities, venturing into the suburbs to find real estate with growth potential and excellent cap rates. San Diego offers plenty of investment opportunity for California investors who want to invest outside of San Francisco or Los Angeles. Worcester, MA is an excellent choice with small-town charm close to the Boston metropolitan area. In Florida, several locations are emerging as great investment locales, including Doral in the south, Lakeland in the center of the state and Jacksonville in the north.

There are 36 units closed in the last 3 months, the closing price is between $235K a studio with parking at the 450 E Waterside – the Chandler to $1.1m, a two bedroom at the 340 E Randolph. Only 3 units are foreclosure units and they are in the same price range with the regular sale units.

There are 29 units under contract, this is a huge number for the beginning of March, out of the 29 units there are 3 short sale units.

From the above we could see that the stressed properties are playing a big role here, and even for regular sales, the property prices are quite stable.

I just noticed today that they have dropped price to $420k with no parking and it is a short sale now. The price is still high considering the amount of work needs to be put in. So I would think the contract price should be around $$370K to $380K. As the last unit closed is 4309, similar unit with open kitchen, lots of upgrades, with a self parking space for $455k.

Parkshore is a full amenity building with 24 hour doorman, grocery store onsite, gym, roof top swimming pool, indoor garage, etc.

1) 300 N State 3024, this is a studio foreclosure but it is from Bank of America so no restriction of the homeowner purchase in the first 15 days. The listing price was $124,900. We have been told that there are multipal offers, so that my client has offered $126,125 with mortgage contigency and we have been rejected.

2) 420 E Waterside 714, this is a short sale, price at $300k with parking included, it is a one bedroom. My client has offered full price the $300k with mortgage contigency but could close in 2 weeks since they have a #1 mortgage broker in Chicago. However, the owner only wants cash offer, and we have got rejected.

3) 420 E Waterside 1005, with listing price of $319k plus $40k parking, this is a one bedroom unit plus a den. My client has offered $330k with parking included, and we have got outbid and the owner has picked another offer.

4) 440 N Wabash 1907, this is a one bedroom unit with part of one wall open to the living room, needs some work, listing price is $205k with indoor parking included in the price. The listing was active on Jan 23rd, since my client does not have time to see it until Sat Jan 26th, we have been told that there is a contract while when we were touring the place, then while we were sitting down to talk about a cash offer, the agent told us that the contract is written…

5) 195 N Harbor 4907, this is a one bedroom unit with valet parking space included in the price, the listing price was $285k, the unit was remodeled with open kitchen, granite counter tops, new appliances and washer and dryer. It was listed on Jan 15th and went under contract on Jan 22nd.

From the above, you can see that if you want to buy a good deal, you have to be ready, ready and offer the first a couple of days…

Unit needs some work, such as carpet, painting, appliances, some fixes about the door, the shower head and one cabinet door. This unit is facing north and with great city view. There is a balcony with the unit. One parking spaces included in the unit too!

I am thinking with parking this can be rented for around $1,650 per month.

http://youtu.be/zzl0iLVA12M

340 E Randolph, current listings are 6 units out of 343 units total in the building, so the active listing ratio is 1.8%

450 E Waterside, current listings are 6 units out of 304 units total in the building, so the active listing ratio is 2%.

222 N Columbus, current listings are 2 units out of 480 units total in the building, so the active listing ratio is 0.4%.

225 N Columbus, current listings are 9 units out of 264 units total in the building, so the active listing ratio is 3.4%.

201 N Westshore, current listings are 1 units out of 207 units total in the building, so the active listing ratio is 0.5%.

Let’s look at some older buildings:

195 N Harbor Dr, current listings are 7 units out of 483 units total in the building, so the active listing ratio is 1.4%.

155 N Harbor Dr, current listings are 9 units out of 742 units total in the building, so the active listing ratio is 1.2%.

360 E Randolph, current listings are 13 units out of 305 units total in the building, so the active listing ratio is 4.3%.

400 E Randolph, current listings are 8 units out of 959 units total in the building, so the active listing ratio is 0.8%.

There are 13 units closed in the last 6 months at the Park Millennium 222 N Columbus Dr. Prices are from $121k to $721K, with one studio, 5 one bedroom units, 6 two bedroom units and one three bedroom unit. In the 13 units, there are 6 foreclosure units together with 2 shortsale units, which are 62% of the units sold in the last 6 months.

There are also 2 units available on the market and 4 units are pending for close. The turn over rate is quite high, if you are thinking about the total units in the building are 480 units and only 2 units are active, then the current listing rate is 0.4%.

The Park Millennium is a full amenity building with lots to offer, including 24 hour doorman, grill, patio, business room, party room, dry clean, gym and indoor pool.

The Park Millennium is a full amenity building, has a lot to offer, only draw back is that right now there is a rental cap of 25%, so no new investors could be able to rent this unit out, but if it is for self use, this will be a great purchase!