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

The Foreclosure 2 bedrooms at the 400 E Randolph has dropped another $20K

August 10th, 2010 · No Comments · Uncategorized

This two bedrooms unit at the 400 E Randolph is a combined unit between a junior one bedroom and a studio, so the size is larger than a regular two bedrooms unit. It is on a very high floor, you get some lake view from the unit. I would anticipate the contractor work for about $20K to $30K to make it into a great place.

The asking price is $244,900, this is dropped from $309,900 in Jan 2010. The current tax rate is $3,475.86 and the current assessment is $773. So that means $1,063 cost per month. After fix it up, you can easily rented out for $2,200 per month, then that means you have $1,100 help to pay off your mortgage. Assuming that your loan amount is $180K, your monthly payment is only $966.  Right now it is very difficult to find anywhere with a positive cash flow!

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