Tuesday, January 07, 2020

Starting the year in Streeterville (and a look at condo sales)

A very nice plaza view looking from The Children's Museum at Navy Pier. The nearly completed Vista Tower sits just across the river from Streeterville in the Lakeshore East development.  
We've had a busy December and start to the New Year. I'm going to try and post a LOT more (like the old days) about our daily business adventures a observations while working around town.

I've really enjoyed the Streeterville neighborhood over the years. My wife works at Lurie Children's Hospital (formerly in Lincoln Park) and we've taken advantage of the dining and entertainment and cultural events in and around the area. It's also a favorite place for Bob and me to show condos! Bob is a former resident of several Streetrville buildings.

556 condo units sold over 2019 with a median price of about $325,000.  That relatively affordable number for the primo location does not take into account high monthly building assessments. They can easily reach $800 to $1,000 a month on a two bedroom unit. The vast majority of condos at or under the median price are one bedroom units.
The real Streeterville... this view from Lurie Children's Hospital. Mix of old and oldish high-rise buildings in the heart of the neighborhood.

Our current first-time buyer has a budget in the median price range (max $330,000 depending on taxes and assessment). Streeterville is their near work.  The "must haves" are two bedrooms and in-unit laundry. Not the easiest thing in the world to find in the neighborhood on a budget! Our client will have to look in buildings most likely built in the 60s and 70s.

One unit that meets our criteria is 222 East Pearson Unit 609, Chicago IL 60611 closed at $292,500. The two beds, one bath unit has in-unit laundry, in building parking, gym, 24 hr doorman and great location.  The assessment in this example is relatively high at $733.00 a month but the sale price range would make it work in the budget.

Currently there are only two Streeterville condo units listed active for sale that have at least two bedrooms, in unit washer and dryer and priced under $350,000! If you are looking for a home this season downtown, Streeterville, North Side or even the near suburbs contact us.

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