North Harbor Drive

Observations and insights into real estate happenings along N. Harbor Dr. in downtown Chicago

East Randolph Street, Chicago

Chicago’s Downtown Monroe Harbor is Only 62% Used

June 5th, 2013 · No Comments · Uncategorized

When jogging along the lakefront and looking out over Lake Michigan from our roof at the Parkshore, I’ve been curious why Monroe Harbor didn’t look very full yet this year, turns out almost 2 out of 5 slips in Monroe Harbor aren’t going to be used at all this year.

Crain’s Chicago reports that the overall vacancy rate for all harbors is about 25% (1 in 4 boat slips are not being used). It used to be difficult to find a spot in the City of Chicago’s Park District harbors, and a new deep harbor recently opened at 31st street, which unfortunately is being utilized only about 20%. The average cost for a slip is about $1,500 per year.

Read more on Crain’s

Another interesting fact is that there is once again a Venetian Night in Chicago, sort of a Venetian Lite at the new 31st street harbor.

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