October 31, 2009 - Here is the other half of the list of Motor Row Lofts units that will be auctioned on November 15th along with the new lower prices on parking spaces.

Unit#313/2BR/2Bath, 1,215 SqFt, Was $391,900, Min Bid $180,000, $5,000 Cashier’s Check to bid, $267 monthly assessment. Duplex with rooftop deck.

Unit#314/2BR/2Bath, 1,198 SqFt, Was $375,000, Min Bid $180,000, $5,000 Cashier’s Check to bid, $263 monthly assessment. Duplex with rooftop deck.

Unit#315/2BR/2Bath, 1,227 SqFt, Was $394,000, Min Bid $180,000, $5,000 Cashier’s Check to bid, $270 monthly assessment. Duplex with walk-in closets and rooftop deck.

Unit#402/2BR/2Bath, 1,389 SqFt, Was $426,000, Min Bid $210,000, $7,000 Cashier’s Check to bid, $305 monthly assessment. Oversized living room windows plus den.

Unit#404/2BR/2Bath, 1,253 SqFt, Was $371,000, Min Bid $180,000, $5,000 Cashier’s Check to bid, $276 monthly assessment. Has full bath in master bedroom.

Unit#502/2BR/2Bath, 1,679 SqFt, Was $589,000, Min Bid $295,000, $10,000 Cashier’s Check to bid, $369 monthly assessment. Duplex with den, office, 21′ ceilings and rooftop deck.

Unit#503/2BR/2Bath, 1,359 SqFt, Was $474,00, Min Bid $240,000, $7,000 Cashier’s Check to bid, $299 monthly assessment. Duplex with rooftop deck.

Unit#507/2BR/2Bath, 1,175 SqFt, Was $407,000, Min Bid $210,000, $7,000 Cashier’s Check to bid, $258 monthly assessment. Large walk-in closet in master bedroom and rooftop deck.

Unit#508/2BR/2Bath, 1,591 SqFt, Was $589,000, Min Bid $295,000, $10,000 Cashier’s Check to bid, $350 monthly assessment. End unit duplex with private deck and den.

Unit#201/3BR/2Bath, 1,649 SqFt, Was $472,900, Min Bid $240,000, $7,000 Cashier’s Check to bid, $363 monthly assessment. Corner unit with balcony, walk-in closet and skybridge third bedroom.

Unit#301/3BR/2Bath, 1,649 SqFt, Was $474,900, has reserve auction price, $7,000 Cashier’s Check to bid, $363 monthly assessment. Corner unit, balcony, skybridge third bedroom.

Unit#501/3BR/2Bath, 2,049 SqFt, Was $659,000, Min Bid $359,000, $10,000 Cashier’s Check to bid, $451 monthly assessment. Corner duplex, 21′ ceilings, den, skybridge bedroom, office, balcony and rooftop deck.

Unit#504/3BR/2Bath, 1,657 SqFt, Was $589,000, Min Bid $295,000, $10,000 Cashier’s Check to bid, $364 monthly assessment. Duplex unit, walk-in closet in master bedroom and rooftop deck.

Unit#505/3BR/2Bath, 1,661 SqFt, Was $599,000, Min Bid $295,000, $10,000 Cashier’s Check to bid, $365 monthly assessment. Duplex with 21′ ceilings, den and deck.

Unit#506/3BR/3Bath, 1,755 SqFt, Was $609,000, Min Bid $295,000, $10,000 Cashier’s Check to bid, $386 monthly assessment. Corner unit with oversized windows, 21′ ceilings, den and deck.

The parking spaces at Motor Row Lofts have also been reduced in price. Individual spots had been priced anywhere from $25,000 to $32,500. They are now being sold for $16,500 to $21,000. Monthly assessments on those run anywhere from about $31.66 to $49.47.

Hopefully this information will give any potential buyers somewhat of an idea of what to expect at the auction. You can also check out the other Chicago Lofts and see what else is out there.

Technorati Tags: Motor Row Lofts, Chicago Lofts, Chicago Real Estate

October 30, 2009 - We obtained a brochure from Sheldon Good & Company that details the units to be auctioned at Motor Row Lofts on November 15th. Since that date is fast approaching, we’ll highlight the one bedroom Chicago condos and about half of the two bedroom units in this post. Tomorrow we’ll list the rest of the two bedroom condos and the three bedroom units. Prices on the indoor parking spaces at this Chicago real estate development have also been reduced and we’ll tell you about those as well. And remember that there are also plenty of other Chicago Condo Lofts for sale right now.

Unit#303/1BR/1Bath, 1,057 SqFt, Was $312,900, has reserve auction price, $3,000 Cashier’s Check to bid, $232 monthly assessment. Has wall of oversized windows and office.

Unit#317/1BR/1Bath, 926 SqFt, Was $279,900, Min Bid $140,000, $3,000 Cashier’s Check to bid, $204 monthly assessment. Has computer nook and large balcony.

Unit#403/1BR/1Bath, 1,057 SqFt, Was $317,900, Min Bid $160,000, $3,000 Cashier’s Check to bid, $232 monthly assessment. Has office and master bedroom walk-in closet.

Unit#408/1BR/1Bath, 1,107 SqFt, Was $328,900, has reserve auction price, $3,000 Cashier’s Check to bid, $243 monthly assessment. Has walk-in closet and den.

Unit#202/2BR/2Bath, 1,389 SqFt, Was $418,000, Min Bid $210,000, $7,000 Cashier’s Check to bid, $305 monthly assessment. Has a den.

Unit#206/2BR/2Bath, 1,440 SqFt, Was $431,900, Min Bid $210,000, $7,000 Cashier’s Check to bid, $317 monthly assessment. Has a den.

Unit#212/2BR/2Bath, 1,418 SqFt, Was $428,000, Min Bid $210,000, $7,000 Cashier’s Check to bid, $312 monthly assessment. This is an end unit with a patio.

Unit#216/2BR/2Bath, 1,418 SqFt, Was $429,900, has reserve auction price, $7,000 Cashier’s Check to bid, $312 monthly assessment. End unit with patio and balcony.

Unit#302/2BR/2Bath, 1,389 SqFt, Was $421,000, Min Bid $210,000, $7,000 Cashier’s Check to bid, $305 monthly assessment. Has a den.

Unit#304/2BR/2Bath, 1,253 SqFt, Was $363,900, Min Bid $180,000, $5,000 Cashier’s Check to bid, $276 monthly assessment. Has a full bath in master bedroom.

Unit#306/2BR/2Bath, 1,140 SqFt, Was $434,900, Min Bid $210,000, $5,000 Cashier’s Check to bid, $317 monthly assessment. Corner unit with a den.

Unit#309/2BR/2Bath, 1,289 SqFt, Was $394,000, Min Bid $180,000, $5,000 Cashier’s Check to bid, $283 monthly assessment. Duplex with rooftop deck.

Unit#310/2BR/2Bath, 1,198 SqFt, Was $391,900, Min Bid $180,000, $5,000 Cashier’s Check to bid, $263 monthly assessment. Duplex with rooftop deck.

Unit#311/2BR/2Bath, 1,294 SqFt, Was $394,000, Min Bid $180,000, $5,000 Cashier’s Check to bid, $285 monthly assessment. Duplex with rooftop deck.

Technorati Tags: Motor Row Lofts, Chicago Condo Lofts, Chicago Real Estate

October 29, 2009 - The second Chicago real estate project that is reportedly considering converting to rental units is the Mondial, located on 900 West Huron Street. The are a total of 141 Chicago condos in the 15 story Mondial, and the tower is almost finished. Developer Jack Berger stated in a recent Crain’s article that he intends to decide whether or not to make the change to apartments by the end of this year.

In what may be a sign as to which way he is leaning, Mr. Berger has already gone as far as canceling around 50 pre-sale contracts and refunded buyer’s deposits. He was quoted in the article as saying that, “Do you think someone who has a contract for a $450,000 unit that they signed two years ago is going to close? They aren’t going to close, so why alienate the marketplace? We have to do the responsible thing.”

Another factor that will influence the fate of the Mondial is Wells Fargo Bank, which holds a $42 million construction loan that will come due the middle of next year. Mr. Berger admitted he is discussing the change with the bank and they would of course have to approve the switch to rental.

Units at the Mondial vary from one to three bedrooms and around 676 to 3,100 square feet. Pricing ran from the $230,000s to the $950,000s. The units were to have stainless steel appliances, 42″ kitchen cabinets, granite counter tops, marble baths with oversized tubs and hardwood flooring. Building amenities include a 24 hour doorman, roof top deck and indoor parking.

Developers seem to still seem to have more confidence in the rental market, even though more condos projects are switching over, more apartment towers will be completed next year and there are more Rent to own condos in Chicago right now.

Technorati Tags: Mondial, Chicago Condos, Chicago Real Estate