Friday, December 12, 2014

Nothing to see in West Loop with skimpy holiday inventory

Photo in the West Loop, Eric Rojas, Broker, Kale Realty
We have a first time buyer client who wants to jump on a great place in the heart of West Loop  priced up to $500,000. Outdoor space is key.  A couple sharp units came on and sold quickly over the past couple months that had extraordinary terraces. For example, 1260 W Washington #701, Chicago IL 60607 just went under contract. We need something like that!

Our client wants to stay in the hot, hot area of Lake Street to 290 (furthest south) and 90/94 to North Ashland on the west. Map generated by Eric Rojas, Kale Realty using
 These quick sales lit a fire under our client.  However there is ridiculously low inventory for two-three bedrooms condos with parking from $400,000 to $525,000 at the moment.  Only four units are for sale that fit this pretty broad criteria! Non have outdoor space greater than a fairly standard 5x12 balcony. Eight units are currently under contract in these boundaries. 

Even though inventory is low a good place can hit the market at any time. After a little market education our client is now better prepared to move quickly.

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