July 31, 2010 – Back in February The Columbian was taken over by Fidelity Investments Bank and and Chicago real estate developer Allison Davis lost control of the 46 story high-rise. As is usually the case with foreclosures, the remaining unsold Chicago condos are marketed with some hefty price cuts. About 71% of the 220 units in The Columbian were sold, and now “newly reduced pricing” is being advertised for the rest of the condos. A free parking space is also included with the purchase price. The development’s site lists the units and pricing as follows
below.

1 BR/1 Bath / Unit #906 / 760 sq. ft.
Was $329,900 Now $249,900 / Reduced by $80,000

1 BR/1 Bath / Unit #2804 / 846 sq. ft.
Was $425,900 Now $299,900 / Reduced by $126,000

2 BR/2 Bath / Unit #1802 / 1232 sq. ft.
Was $504,900 Now $399,900 / Reduced by $105,000

2 BR/2 Bath / Unit #1303 / 1485 sq. ft.
Was $550,900 Now $449,900 / Reduced by $101,000

2 BR/2 Bath / Unit #2305 / 1479 sq. ft.
Was $619,900 Now $524,900 / Reduced by $95,000

2 BR/2 Bath / Unit #3503 / 1511 sq. ft.
Was $695,900 Now $599,900 / Reduced by $96,000

2 BR/2.5 Bath / Unit #2601 / 1571 sq. ft.
Was $819,900 Now $634,900 / Reduced by $185,000

3 BR/2.5 Bath / Unit #3107 / 1929 sq. ft.
Was $1,090,000 Now $749,900 / Reduced by $340,100

3 BR/3 Bath / Unit #3401 / 2460 sq. ft.
Was $1,139,500 Now $949,900 / Reduced by $189,600

There are also several other Downtown Chicago Condos that are being marketed at reduced prices, so be sure to compare them to see which ones offer the most for
the money.

Technorati Tags: The Columbian, Downtown Chicago Condos, Chicago Real Estate

July 30, 2010 – It’s been quite a while since we posted anything about 757 Orleans so we thought we’d revisit that Chicago real estate development and see what might be new there. As it turnes out though, there isn’t a whole lot that has changed at 757 Orleans. Price cuts on the unsold Chicago condos in the tower were advertised back in April, and the last sales data that was released then put the number of contracted units at just under 70 out of a total of 198 in the tower.

That being said, even with a few more sales in the pocket, there should be plenty of condos left to pick from at 757 Orleans if you’re interested. The Gammonley Group is the developer and original prices on the studios and one to two bedroom condos started in the $240,000s. The price cuts knocked off as much as $125,000. With those price cuts, the studios then started from $187,000 and one bedroom condos from $287,000. The two bedroom units were also lowered and priced from $387,000.

Kitchens at 757 Orleans come with maple or oak cabinets, granite counter tops and backsplash, stainless steel appliances, double bowl stainless steel sinks and hardwood flooring. Baths feature 12 inch ceramic tile floors and tub/shower surround, maple or oak vanity cabinets, marble vanity top, soaker tub, dressing mirror and theatrical lighting. The condos also have 9 foot high ceilings, oak hardwood flooring, designer lighting, carpeted bedrooms, washer/dryer hook-up, a balcony or terrace and vinyl-clad wire shelving in the closets.

The open house days and hours for 757 Orleans are listed as Monday, Tuesday, Friday and Saturday from 10am to 5pm and on Sundays from 12pm to 5pm.

If the price cuts at this development aren’t enough to convince you to buy, you may want to watch for deals on Chicago short sales.

Technorati Tags: 757 Orleans, Chicago Short Sales, Chicago Real Estate

July 29, 2010 – Another new rental Chicago real estate project is in the planning stage for River North. This time it’s a 49 story tower that would have 427 rental units and around 4,500 square feet of retail space located on the southeast corner of Clark and Hubbard Streets, according to a recent Crain’s article. AMLI Residential Partners and developer Albert Friedman are proposing the tower.

Construction on this planned high-rise is expected to start sometime next year with a completion date of 2013. However, Stephen C. Ross, who is executive VP of development for AMLI, said in the article that the construction schedule depends on the housing market.

Currently the new 11 story Greenway Self Park Garage is a short distance to the north of the planned tower and owned by Mr. Freidman. The article stated that residents of this new tower would be able to use the amenities that are to be located on top of the garage. Those include a landscaped deck, swimming pool, dog run and jogging path.

This planned tower would be the second in Chicago for the development company. The AMLI 900 tower, located on 900 South Clark Street and completed in 2008, is the first. That 440 unit apartment high-rise is completely rented, as stated by Mr. Ross in the article.

Besides all of the Chicago apartments that are available, there are also lots of Chicago Condos being offered for rent and on lease-to-own deals, so keep that in mind as well.

Technorati Tags: AMLI 900, Chicago Condos, Chicago Real Estate