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

Sold in the last three months at the 360 Randolph, the Buckingham

October 28th, 2009 · 1 Comment · Uncategorized

There are two units sold at the Buckingham building in the last three months, unit 603 which was for sale by owner ( you can tell from the listing agent ID) for $358K, the other one is a similar one bedroom unit 1202 sold for $445,000. So the difference is quite big for both remodeled with the same view to the grant park and the south shore line. That means if you want to sell, you should better use a good agent especially in the bad years like now, let’s say that unit 1202 has to pay 6% commission, that is $26,700, the net proceed is $418,300. Then for unit 603, although it is for sale by owner, they still has to pay the 2.5% to the selling agent, that is $8,950 plus the fees to Scott Berg which would be around $500, the total net would be $348,550, the difference between the two unit would be quite significant, which is $69,750. So that means yes you save some on the listing agent fees but what is the final result, you lost almost $70,000! As right now it is buyers’ market you need professionals to help you out to get your unit sold in the price range that you were thinking!

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One Comment so far ↓

  • Tim

    Being the buyer of 1202 and someone involved in the real estate industry, I can attest that involving a good realtor is invaluable in the search for the right property. I believe the key is developing a relationship between buyer and agent so that the right real estate is located. In our case, the Stunards at Rubloff were outstanding. They knew that the south view at the 12th floor height and the tandem parking space included were key attributes for our needs, accounting for the difference in value offered.

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