Condo rental views from 340 on the Park, Lakeshore East

 

40th floor balcony views at 340 on the Park in Lakeshore East, downtown Chicago (all photos Eric Rojas, Broker, Kale Realty)

It's hard to place a value on great views... unless you are at 340 on the Park in Lakeshore East! 

Our clients viewed a rental condo unit at 340 on the Park, 340 East Randolph Chicago IL 60601  at Lakeshore East last week... and caught the only peek of sunshine all week! The views and location are spectacular. Rents for a condo unit in the building over the last 12 months have ranged from $3,300/ month to $16,500/ month.

25th floor amenity deck views from 340 on the Park.

Amenity deck views of Millennium Park and Michigan Avenue skyline

Motivation Monday! I would even get on the elliptical for these Lake Michigan views.

Downtown condo rentals (owned by an individual in a 100% condo building that is allowed to be leased to a tenant) are often desirable to high-end renters.  They seek a more predictable condo association environment of longer term owners and less turn-over of neighbors. There are certainly well run 100% rental buildings with great amenities. However, anecdotally speaking, the building will be more transient with constant move-in and out tenants. High-end condo renters may also choose to negotiate and communicate with the condo owner/ landlord rather than a large rental office management company. 

To purchase, sell or rent condos in downtown/ Loop locations please contact us for our recommendations and resources. 

Eric Rojas, Broker

Kale Realty

2447 N Ashland, Chicago IL 60614

773-510-1597

erojas@kalerealty.com

Under Contract: Loop condo at The Heritage sells quickly (Eric Rojas, Broker, Kale Realty)

The kitchen at 130 N Garland, Unit 3502, Chicago IL 60602. Listed at $729,900 and currently under contract. Exclusively listed by Eric Rojas, Broker, Kale Realty. All photos VHT.com and Eric Rojas

Under Contract! This condo has gone under contract quickly but we are familiar with current for sale units and private listings in this building and other nearby Loop buildings.

Open, large living room faces west with great city views!

Sunset views from the unit balcony and all windows.

Bright and sophisticated describes this spacious three bedroom, two bath home in The Heritage at Millennium Park. Take the 3D Tour and view photos, floor plan of 130 N Garland, Unit 3502, Chicago IL 60602 Listing details HERE

Renovated kitchen in 2018-2019.

The entry foyer with ample hanging space and coat closet invites you into Unit 3502. Custom white kitchen renovation featuring Quartz countertops, Bosch appliances, gas cooking range, and true exhaust hood to the exterior. All hardwood floors throughout adorn the open floor plan. Amazing southwest and west city views from expansive windows on the quiet side of the building. Take in spectacular world class architecture and sunsets every day! Walk-out  balcony from the living room large enough for comfortable chairs and grill.

Master bedroom with walk-in closet and second organized closet.

Large 2nd bedroom with amazing views.

Fully gut renovated master bathroom.

Split bedroom floor-plan. Extremely private primary suite, organized walk-in closet, 2nd closet and king size space offers luxury sleeping accommodations. Show stopper CUSTOM PRIMARY EN-SUITE BATHROOM has been completely transformed. Double-vanity and sinks, separate expanded shower, air jet tub with overhead shower, gorgeous tile and towel warming rack transports you to a lavish European destination. The condo's north wing features generous 2nd and 3rd bedrooms outfitted with organized closets and huge windows with fantastic city views. The second bath provides a large vanity, walk-in shower, two oversized storage closets and full size in-unit washer and dryer.

Enjoy phenomenal luxury building amenities and features including: an executive lounge/fully equipped party room with fireplace, INDOOR POOL, expansive fitness room, two outdoor terraces, A+ 24hr door staff and prime location in downtown’s premier building. 

Screened windows in each room - Large private storage cage - Bike storage rooms - Dog run - Close access to all CTA Lines including direct Pedway access to Blue, Red and South Shore Lines - Pedway access to central Loop, Illinois Center, and Lake Shore East - Multiple short-term parking spots in front of building for drop-off/pick-ups - PARKING GARAGE WITH SPACES AVAILABLE FOR RENT OR PURCHASE (offered from private owners, inquire with me).  Contact below:

Exclusively listed by

Eric Rojas, Broker

Kale Realty

2447 N Ashland, Chicago IL 60614

773-510-1597

erojas@kalerealty.com

Two-flat to four-flat sales in Logan Square (small multi-unit)

 

Two, three and four flat buildings line West Wrightwood Avenue in Logan Square (all photos Eric Rojas, Broker, Kale Realty)

A client of ours recently inquired about Logan Square two-flat. He's looking at it purely as an investment. A good number of multi-units still sold in 2023 despite the increase in mortgage interest rates.  One could argue in this time of inflation, higher mortgage interests rates and low inventory there will be more demand for apartments. A live-in owner can get a better location and expect high demand for their extra apartments.

In 2023, 86 two-flat units closed for a median price of $585,000. 28 three-flats sold with a median price of $667,000 and 16 four-flats sold with a median price of $1,040,000.

A total of 166 small multi-unit buildings (two-four units) sold in 2019
A total of 158 small multi-unit buildings (two-four units) sold in 2020
A total of 249 small multi-unit buildings (two-four units) sold in 2021
A total of 191 small multi-unit buildings (two-four units) sold in 2022
A total of 130 small multi-unit buildings (two-four units) sold in 2023

The stock of  small muti-unit buildings in Logan Square (two, three and four flats) continues to provide ownership options for Chicago home buyers and investors. Multi-unit properties can provide a lower entry purchase price and more flexibility than single family homes. Live in one unit and rent the other units. Live in and possibly run a vacation rental in another unit. Eventually move out after several years and rent the whole building. Add another unit if zoning or the recent ADU ordinance allow. 

There have been recent legislative initiatives to preserve small multi-unit buildings in parts of Logan Square. These ordinances act to stabilize multi-unit stock and ultimately put a small check on rising list prices. If looking for a bustling neighborhood with public transportation options a Logan Square multi-unit may fit the bill. 

Eric Rojas, Broker, Kale Realty

ericrojasbog.com - erojas@kalerealty.com

Looking for Chicago Loop condo rentals

Gray views this morning from the 43rd floor at the The Heritage, 130 N Garland, Chicago 

Nothing a double shot can't solve! Despite April snow flurries Bob is in the Chicago Loop this morning looking at three bedrooms condo rentals with our clients. The median price of a three bedrooms condo rented in the Loop is $5,900 a month! (Stats over 12 months for 59 closed three bedrooms units in MREDLLC.com)

Nothing better than a double espresso to get you going in the Loop

Our sellers are under contract on their sale and want to stay downtown for another year... but they prefer renting from a condo owner rather than a 100% rental building. Gloomy views from the 43rd floor are better than no views!

Taking a look at a condo rental in Aqua, at Lake Shore East. We have no problem waiting in these gorgeous lobbies!