North Harbor Drive

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

East Randolph Street, Chicago

8 units closed at the 450 waterside – the Chandler

October 1st, 2010 · Uncategorized

There are 8 units closed at the 450 waterside – the Chandler in the last 6 months, they are studios to three bedrooms with one short sale which is a large north facing one bedroom unit. The closing price is between $199K and $790K. The square feet is between 650 square feet and 1,445 square feet.

We just did an analysis on the 155 N Harbor Dr at the http://www.erandolph.com, the last 6 months has 6 units closed, since chandler is a lot smaller than the harbor point, this means the turn over of the new buildings is a lot higher than the older buildings.

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The Benefits and Convenience of Living in Downtown Chicago

September 30th, 2010 · Uncategorized

Part of the allure of a downtown apartment is in the lifestyle it promises. While perks like the 6,000 some restaurants in the Chicago area, and the late-night bar scene, may be the initial source of attraction, what really makes Chicago so appealing is convenience. Unlike other American cities, like New York or Washington D.C, which have been plagued by price hikes and overpopulation, Chicago apartments for rent provide the opportunity for renters to live in the heart of the Windy City without having to lower their expectations or their standard of living. Read below to learn more about convenience that comes with living downtown.

Live a Car Free Existence

From the advertising community to the financial district, the Loop serves as the hub for nearly every major industry operating in Chicago—and for renters downtown, the time saved on workday commutes is invaluable.

Downtown renters also reduce their auto-dependency thanks in part to easy access of all of the city’s major train lines, which can bring you down to the heart of Lincoln Park, Bucktown, or Wrigleyville in a matter of minutes; all for a mere $86.00 a month.

But just because you don’t need to own a car doesn’t mean you shouldn’t have to have access to one. A number of Chicago apartments have special access to the car-sharing program, I-Go, which allows residents to rent cars when they need them for a fraction of the cost of insurance and gasoline.

Learn in the Cultural Hub of the Midwest

The cultural benefits of a metropolitan upbringing are invaluable regardless of the age group. This is especially true for downtown residents, who live and work around some of the world’s most renowned museums and art galleries. Of the many museums in the downtown area, the most popular may the Field Museum, which also serves as the permanent home of Sue, the largest Tyrannosaurus Rex ever discovered. Other permanent exhibitions include artifacts from ancient American civilizations, an extensive fossil catalogue, and a sprawling exhibit that details the many ecosystems that make up our planet.

Art lovers will find their fix at the Chicago Art Institute. Home to some of the world’s most famous contemporary paintings and sculptures, patrons of the Chicago Art Institute have the opportunity to view the masterworks of Picasso, Monet, Matisse, and Gerhard Richter, among many others. In addition to the exhibits, the Art Institute also holds lectures, gallery talks, and concerts throughout the year.

The Parks of Downtown Chicago: Sanctuaries in the City

Green spaces like Lakeshore East, Millennium Park, and Grant Park, in the downtown area have a reputation that’s on par with the city’s iconic skyline. More than just the grounds for the Jazz Fest, Blues Fest, the Taste of Chicago, and other events, the parks downtown offer an escape from the hustle and bustle of city life.  From reflection gardens, to yoga classes, the parks downtown provide relaxation and rejuvenation for Chicagoans free of charge.

Ultimately, it’s Chicago’s ability to pair Midwestern charm with the expediency of a metropolitan life that that makes it so popular.

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Three two bedrooms under contract at the Parkshore – 195 N Harbor

September 21st, 2010 · Uncategorized

Currently there are three two bedrooms units under contract at the Parkshore – 195 N Harbor, the listing dates were from Feb 22, 2010 to August 16, 2010, the listing price is between $435K to $469K with parking included in the price. This means the Parkshore is still standing very strong, as the prices might be flat or 5% less than a couple of years ago. In current market, it is quite easy to see condos sitting for more than 6 months or a year, so I am very impressed to see some of the units are sold within one month of being listed!

Parkshore features 24 hour doorman, the fitness room, the roof top pool, the two party rooms, the tennis court, the grills, the sun deck, the dog run, the grocery store on site, the spa…

Parkshore is one of the nicest run building in the neighborhood, with very high reserve and great management office on site.

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Last three months sold units at the Chandler

September 20th, 2010 · Uncategorized

There are 4 units sold in the last three months at the Chandler, they are ranging from Studio to two bedrooms, the price is between $210K to $580K and there is a short sale one bedroom sold for $387,500. The size of the units are ranging from 600 square feet to 1,127 square feet. Chandler – 450 E Waterside built in 2009, currently there are 22 listings, the total number of units in the building is 304 units, so that is around 7% of the total units which is quite reasonable consider this is a new building and there are investors who would like to sell their units.

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155 N Harbor – the Harbor Point last three months sold units

August 10th, 2010 · Uncategorized

In the last three months, there are 4 units sold at the 155 N Harbor Dr, the Harbor Point building. There are two one bedroomunits sold for $277,000 and $296,000, they are around 880 to 990 square feet. One one plus den unit sold for $362,000 and one two bedrooms unit with 1,300 square feet sold for $440,000. There is one unit pending which is a one plus den unit and one two bedrooms unit is under contract.

Right now there are 31 units for sale in the building, since the total units in the building is 742, that is around 4.2% of the units for sale, that is a quite high percentage compare to the Parkshore which is next door. I think the reason is being the building is getting old, so it is taking a little longer to turn over compare to the newer buildings, if  you price it right.

I like all the amenities in the building, they have very nice gym, great swimming pool, deep too:-) Basketball quart and baseball quart, lots of machines and free weights. party rooms, Internet room, sun deck… The thing I do not like about this building is the window does not open wide, so you could not get so much fresh air, I remember one night I went to visit a friend in the building a few years ago and I got my asthma so that I had to quickly leave and went home. Another thing is gym is in the basement, which does not have any lights. The assessment is a lot higher compare to the Parkshore. For a similar size unit, the monthly assessment difference would be around $400.

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Cheapest one plus den for rent at the Parkshore

July 28th, 2010 · Uncategorized

This one plus den unit has lots of upgrades, such as granite kitchen counters, wood floor in the living room, the dining room and the den, there are lots of built in shelves in the living room and the den area. The kitchen appliances are SS appliances. The bathrooms are marble baths.

The asking price is $2,000 per month which has include a valet parking space. This is the best deal in the building.

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8 E Randolph 2 bedrooms for rent showings

July 28th, 2010 · Uncategorized

I have a new rental listing on 8 E Randolph, which is a two bedrooms unit with more than 1,400 square feet, floor to ceiling windows, new granite counter tops, new marble bathrooms. Wood floor in the living and dining are. Open Kitchen. This unit is facing north east, have view to the Chicago river. It is furnished with Italian sofa, one large flat screen TV in the living room and one in the master bedroom. It has a king size bed in the master bedroom. Large side by side washer and dryer in unit.

8 E Randolph is also called the Joffery Tower, which is in the best location of the downtown area. Walking distance to the train station, Macy’s, the Chicago Theater district, the millennium park, block 37 and all.

The listing price of this fully furnished apartment will be $3,200 per month.

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Cheapest two plus den for rent at the ParkShore

July 8th, 2010 · Uncategorized

I have showed this unit last week, it is a two plus den with great views to the lake and Chicago River, the Navy Pier. The unit is furnished, but you could choose to rent with furniture or not with furniture. The price is the same. The asking price is $2,250 includes a parking space which is super low. So if you need a big place in the neighborhood, this is a great choice.

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Two bedrooms rental at the Aqua building

July 8th, 2010 · Uncategorized

I have been looking for two bedrooms rental for a client at the LakeShore East neighborhood. About a couple of months ago, we were visiting the Aqua building and being told that there were no two bedrooms for rent in the building.  Good news, just find out one two bedrooms came out for around $3,000 on the mid floor at the Aqua building.

If you have not visit the building before, I would like to take you for a tour. You will be amazed of what amenities they have, absolutely everything!!! Consider the amenities, the new construction, the location, the view and the size of the rooms, the rental price is not very bad!

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One plus den at the Parkshore is rented – unit 2709 at the 195 N Harbor

July 1st, 2010 · Uncategorized

So this rental did not take long, we have it listed on 6/2/2010. There were around 6 showings total, and we have got a contract yesterday with a one year lease. Since the move in date is 8/1/10, I am sure we did not get many showings because of this reason. But this again confirmed with the rental market in Chicago is strong, and hope this is a good sign for the whole housing market.

Another reason this unit has been rented fast is because it is on a high floor with open and nice views to the lake and Chicago River, the important reason also includes wood floor, fresh paint, professional clean.

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