Park Millennium sold in the last 6 months – 222 columbus Dr

kristine — Thu, 08 Apr 2010 21:00:01 +0000

There are 9 units sold in the last 6 months at the 222 Columbus Dr. They are including one bedroom and two bedrooms, sold price from $200,000 – $360,000. There are 4 short sales and 4 foreclosures, one conversion sale. Since there are so many foreclosures and short sale in the buildings, it is very hard for the regular sale to get a competitive sale price in the neighborhood. Although, people might argue about their listing is not a foreclosure listing, but since the majority sale are foreclosures and shortsale, the buyers could only use that price for the competitive market analysis when they provide an offer.

Also, this building’s renter to owner ratio if higher than 50% which is higher than the required 30% so it is very hard to get a loan, there are only a couple private lenders in the buildings that the buyers could consult, the down payment is higher than 20%. For new investors, they are not allowed to rent their units out until the ratio is better, that being said, if you are an investor and bought a very cheap unit in this building, you can’t rent it out for the moment.

But for cash buyers who wants to live here for a few years, this is not a bad choice since you could get a one bedroom for as low as under $200,000 with newer kitchen and appliances, the one plus den is starting at $269,000 for asking price. The building is a full amenity building with indoor swimming pool, nice gym, party room and sun deck, it is also has pedway linked underneath the building.

One bedroom for rent at the 400 E Randolph just got contracted

kristine — Tue, 02 Mar 2010 14:13:55 +0000

So my client decided to pick the outer drive east building – 400 E Randolph, since this is a great central location, next to the new lakeshore east park, the grand park and the millennium park. Walking distance to the Michigan avenue and the lake front too. When summer comes, there are free concert at the millennium park almost every night, I saw lots of families, young gatherings are sitting on the grass, enjoying the nice music. At the new Lakeshore east park, in the summer, at the kid’s playground, there is water shooting out of the ground, so we call it a small water park. You would see kids running around sometimes young adult too in the hot summer days.

The 400 E Randolph building offers free shuttle service to a few downtown locations every half an hour, this is very convenient for people wants to do grocery shopping. Or just go to work or catch a bus on Michigan Ave. The building has just finished remodeling the gym and the swimming pool. Right now it has all the new equipments in the nice looking gym, the pool is even more spectacular, the lights on the doom are changing automatically in the evening, this is one of the scenery in the neighborhood. They have also added a kids’ play room, which helps a lot of the moms especially in the winter, when it is hard to go outside to play. The building committee has also decided to reduce the monthly assessment for the year of 2010, this is never heard of in all the other buildings, that means they have a strong reserve. The building also offers a restaurant on the 7th floor, called the Seven, it has great pizza and chicken wings. So if you do not want to cook dinner, you will have some choices there.

East Randolph Street » indoor swimming pool

Park Millennium sold in the last 6 months – 222 columbus Dr

One bedroom for rent at the 400 E Randolph just got contracted