North Harbor Drive » Uncategorized

New foreclosure 3 bedroom 2 bath at the Parkshore – 195 Harbor

Kristine Chen Frost — Mon, 06 Feb 2012 18:53:35 +0000

I noticed that after a long time of being short sale, this combined unit 2607 and 08 is on the market for $724,900, this unit has around 2,200 square feet, with a large dine in kitchen, large living room, very large master bedroom and master bathroom. This unit is very well maintainted, although you might need to do some work as the upgrades are kind of out dated. The listing price includes 2 deeded parking spaces. The Parkshore is a full amenity building with a lot to offer, 24 hour doorman, onsite grocery store, gym and roof top pool. This building has very strong financials too.

Normally the 07 unit would sell for $220k and the 08 unit could sell for around $430k, plus $45k parking each, that means it worth around $740K, then you need to spend around $60k just to open the unit to combine it. Since there are not so many 3 bedroom units in the neighborhood, this might be sold pretty quickly.

Please check out more properties on my new website: http://helpfulchicagorealtor.com/chicago/advanced-search

Showing 2 bedroom for sale at the Regatta, 420 E Waterside

Kristine Chen Frost — Tue, 31 Jan 2012 20:06:19 +0000

I have showed the lowest priced two bedroom, 2 bathroom unit at the Regatta – 420 E Waterside yesterday, this is a split two bedroom two bathroom, have a granite kitchen, marble baths, nice size balcony with views to the new lakeshore east park and the lake. Unit has wood floor in the kitchen and living room. Lots of closet spaces. The listing price is $399k with no parking spaces, this is really a good price for this building.

Regatta is a full amenity building built in 2007, party room, 24 hour doorman, dry clean nice gym and indoor pool. Home owner purchase only as there is a new rule just passed out this summer that no new investors allowed to rent out their unit until the renter ratio go below 20% which is around 43% currently.

155 N Harbor Dr, Harbor Point building last 12 months sold history

Kristine Chen Frost — Tue, 17 Jan 2012 00:44:10 +0000

This building caught my eyes as I noticed there are currently 10 units under contract, most of them happened within the last few weeks. This should be a sign that people are coming to the market again!

There were totally 22 units closed within the last 12 months, this is a big increase compare to a year ago which was 15 units closed, that means there is a 47% increase for units closed in 2011 compare to 2010.

Harbor Point was built in 1973 and it was one of the original buildings in the new eastside which includes the laskshore east neighborhood. As we all know that more buyers prefer the newer buildings than the older buildings, so this increase is a great sign to show that the market is started to coming back…

Currently there are 10 units listed for sale, compare to the total units in the building of 742 units, it is just 1.3%. The listing prices are from $249k to $800K inlcuding studio, one bedroom units, two bedroom units and three bedroom units.

Harbor Point also has rental units, there are two rental units are currently available for rent.

Harbor Point is a full amenity building which has 24 hour doorman, grocery store onsite, nice and large gym, indoor deep swimming pool, party rooms, sun deck etc. Harbor Point allows small pets, under 25lbs and each unit can have no more than 2 pets.

450 E Waterside unit 1806 is rented for $2,000 per month

Kristine Chen Frost — Sun, 08 Jan 2012 22:50:33 +0000

I have helped my client rented out 450 E Waterside unit 1806 for $2,000 per month with no parking spaces included in the rental price. This unit with wood floor in the living floor, marble bath, nice white kitchen, balcony, view to the south with great lake views! The unit is very bright with the natural light, in unit washer and dryer. The Chandler is a full amenty building with everything to offer, from 24 hour doorman to party room, gym and indoor swimming pool, sun deck, dry clean services etc.

5 N Wabash 1102 for rent, Large one plus den furnished for rent

Kristine Chen Frost — Wed, 21 Dec 2011 20:47:02 +0000

This unit is a nice remodeled unit located at the 5 N Wabash. The unit is around 1,140 square feet with a nice open kitchen, wood floor in the living room and the den, nice and large marble bathroom, big master room with a large walk in closet. Location is the key, this unit is located right in downtown. Rent is $1,995 including basic cable and all the nice furniture! This unit will be available on Jan 1, 2012.

Please find out more detailed info on: http://www.helpfulchicagorealtor.com/chicago/property-types/rental

Investors’ questions – regarding what to buy, studio, one bedroom or two bedroom unit at the new eastside?

Kristine Chen Frost — Thu, 15 Dec 2011 19:58:23 +0000

I have got this question a lot from investors, shall I buy a studio, one bedroom or two bedroom unit? Which one has a better return? Since the rental market went up so much this year and looks like it is continue going up, the studios look like have a better return, not talking about how much appreciation about the property value.

For example, I have two clients bought in the last two month at the new eastside neighborhood. One client bought a studio for $132,500 and rented out for $1,300 per month, the monthly assessment is $249 per month and the annual tax is $1,284, that is $107 per month. So let’s assume this is a cash deal, then the monthly cost is $107 +$249 = $356, if we use 1 month for the finder fees, then the annual income is $1,300*11 – $356*12 = $10,028, if we use the annual income divided by the purchase price of $132,500, then the rate of return is 7.6%.

Another client bought a one bedroom condo with better view, newer building, balcony, double the size of the studio with a parking space for $320,000, we have rented it out for $2,200 per month, the monthly assessment is $393, and the annual tax is $3,289, which is $274 per month. Let’s again to assume this is a cash deal, then the monthly cost is $393 + $274 = $667, if we use 1 month for the finder fees, although this could be eliminated if the tenant renews the lease. Then the annual income is $2,200 *11 – $667*12 = $16,195. The rate of return is 5%.

Although the rate of return is lower compare the one bedroom to the studio, and the cash requirement is almost 3 times higher. But as I have mentioned before that when the appreciation comes, the newer the building, the better the view and the larger the unit would appreciate the more.

Therefore, I would recommend people to purchase larger unit with better view in the newer building for good return with higher appreciation in the future. If you are interested in buying a place, please use the link below to search:

http://helpfulchicagorealtor.com/chicago/advanced-search

Studio at the 480 Mcclurg is rented within one day – unit 1214N

Kristine Chen Frost — Thu, 15 Dec 2011 19:37:05 +0000

My client has bought this property for investment purposes, right after we clear with the attorney review, we have posted it out for rent. Then we have secured a renter the next day. This unit is facing north, on a high floor, it is all remodeled inside with wood floor, new bathroom and new cute kitchen, all new SS appliances. The rental price is $1,295, we have rented full price!

450 E Waterside Large One bedroom Unit 1806 for rent with Balcony $2,100

Kristine Chen Frost — Sat, 03 Dec 2011 14:23:25 +0000

I just listed a one bedroom for rent at the 450 E Waterside – the Chandler building for $2,100 per month. This unit has around 900 square feet, new kitchen with new appliances, wood floor in the living room and kitchen. Unit 1806 is facing south with lots of natural light. The Chandler is a new building which was built in 2009, it does include basic cable, internet, heat, water, etc, so the tenant would only needs to pay for electricity.

The Chandler is a full amenity building, it has an indoor pool on the top floor with amazing view to the lake and Navy Pier, 24 hour doorman, onsite property management, gym, movie room, party room etc.

North Harbor Tower current rental listings

Kristine Chen Frost — Tue, 15 Nov 2011 18:51:18 +0000

The North Harbor Tower has the below listings available, Call Kristine at 312 933 1894 today to $100 move in bonus! Plus the building is offering $200 off the first month.

Apartment	Square Feet	View	Rent Price
500	*	*	*
Convertible#2005	530	North Navy Pier	$1535
One Bedroom#5308 (1.5 BATH)	900	West City	$1775
Two Bedroom#211DOG FLOOR!	1100	Southeast Corner	$2285.00
#713 DOG FLOOR!	1100	Southwest Corner	$2310.00
#1511	1100	Southwest Corner	$2385.00
#2411DOG FLOOR! WASHER/DRYER IN-UNIT!!	1100	Southwest Corner	$2430.00
#5003	1465	Northeast Corner	$2710.00
Three Bedroom#2607DOG FLOOR! GRANITE COUNTERTOPS #4402 DOG FLOOR!	18001800	Southwest CornerNorthwest Corner	$3335$3420

Park Shore last 12 months units sold prices

Kristine Chen Frost — Wed, 02 Nov 2011 19:34:18 +0000

I have prepared the following table of the details for the Parkshore – 195 N Harbor Dr last 12 months sold prices, there were 13 units sold between $225k to $815K. There is one shortsale within all the units sold, so it is 7.6%, which is minimum in the New Eastside neighborhood.

As you can see that the sold price is around 94% of the asking price, that means, normally if you are thinking to low ball, you would not get anything, as you need to be prepared to come up price to around 93-95% of the asking price to get the deal done, otherwise, better just sit and wait for the price drop…

Unit #	Most Recent listing price(K)	Sold Price (K)	Sale status	Sold price /listing price
4007	249	225		90%
3807	265	253		95%
1005	365	335		92%
3601	419	383	Shortsale	91%
1701	418	400		96%
3109	429	409		95%
2801	429	415		97%
1204	429	415		97%
4009	469	435		93%
5104	460	440		96%
4306	500	470		94%
1503	849	795		94%
3002	859	815		95%
Total	6,140	5,790		94%