North Harbor Drive

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

East Randolph Street, Chicago

Foreclosure One Bedroom Plus Den at the 450 Waterside 1310 is Closed for $400K

October 18th, 2012 · No Comments · Uncategorized

My client has just closed this one bedroom plus den at the Chandler, the 450 E Waterside unit 1310 for $400k with a garage parking included. This unit was in foreclosure and listed on the market on July 3rd, 2012 for $444,900, it has a price reduction to $424,900 on August 9th, after a few rounds of negociations, the two parties are set on $400k with a parking space included in the price, that is around 7% off the reduced price. This unit was sold for $517,986 in Sep 2007, therefore, the current sold price is 77% of the price 5 years ago.

Unit 1310 is facing north of the Navy Pier with around 1,100 square feet, it has permanant views to the Chicago River, the lake Michigan too!

Chandler is in the process of passing the new by laws to avoid new investors to purchase units in the building. Everyone currently bought units in the building will be grandfather protected, so there will be no effect with the current owners.

Chandler is located at the lakeshore east.

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