I have a client who has bought the one bedroom plus den unit – foreclosure unit at the Chandler, the 450 E Waterside. This unit has one and a half bathroom with extra den (study) at the entrance. It is around 1,100 square feet, facing north with views to the city, the Chicago river, the Navy Pier, very nice and protected views. The closed price is $400k with a parking space included.
Chandler is in the process of changing the new rental rules. It has proposed to change to a cap of 49% of the rental units in the building, however this has been going on for more than 1.5 year and still not sure if they will pass it. Currently the proposal is if you close before Dec 31, 2012, then you will be called original owners.
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