Wednesday, November 08, 2017

Condo sales at 200 N Dearborn... the heart of downtown!

200 N Dearborn, Chicago IL 60601 has 309 condo units in the heart of downtown (All photos Eric Rojas, Broker, Kale Realty).
We have out of town clients looking to sell their corner one bedroom condo at 200 N Dearborn early next year. 200 North Dearborn is a Chicagoan's Chicago location! Brawny steakhouses, the theater district, transportation, City Hall, pizza(!) and more just steps away.  We stopped by the condo building over the weekend to take a look at the unit. Amenities include coin laundry, exercise room, indoor pool, doorman, sundeck, dry cleaners, food store and party room. Investor friendly (rentals ok), pets allowed and heat/AC is included in the monthly assessment.

Work, live and play downtown Chicago! 200 N Dearborn overlooks the Goodman Theater and features  and is part of the pedway connection to other buildings.
The owners currently have a tenant as the building allows rentals.  There are many decisions to be made concerning listing preparation, timing, pricing and the tenant's situation. Once we evaluate the unit we are able to put together a plan to best serve the needs of the seller. We love the balcony and closets of this place and look forward to getting this condo to market!

Sales at 200 N Dearborn
Eleven units are recorded as sold over the last twelve months with a median price about $226,000. Two of the units are 2 beds/ 1 bath and the other nine sales are relatively spacious 1 bed/ 1 bath units.  Some units were sold with deeded parking and there is usually rental parking available in the building.

Back in 2012, forty units were recorded on the MLS as closed over the year with a median price of about $225,000.  Fast forward to 2016 and we see only twelve units closed for the year with a median price of $237,000.  Thus far in 2017, nine units have closed with a median price back down a notch to $225,000.

If you are looking in the downtown and River North areas for a condo please contact us!

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