Archive for the ‘downtown Chicago condos’ Category

Downtown Chicago Condos

Tuesday, June 30th, 2009

Downtown Chicago condos are made up of six areas known as Chicago’s River North, The Loop, Streeterville, South Loop, Gold Coast and West Loop.  Each area has it’s pluses and minuses, but they are by far, the priciest of all condos throughout the Chicago area.

To finance a condo in downtown Chicago may be a bit harder than other areas because the prices are higher.  Normally you can get away with putting 3.5% down to 5% and the rest would be mortgaged by the condo lender, but that is many times not the case with these downtown Chicago condos.

Downtown Chicago condos typically will start at a price around $250,000.  This price is the low end, the starter condo.  And they can go up to basically infinity.  It was reported that one of the penthouse condos was selling in the new Chicago spire building that is soon to break ground for forty million dollars.  In today’s market place, I’m sure the buyer got a deal, but whether it was forty million or twenty million, that’s a lot to pay to buy a downtown Chicago condo.

On average a condo in the downtown area of Chicago will go for about $500,000.  Some areas are more expensive, but this is the average.  The Near north area of Chicago which takes in River North, Streeterville and the Gold Coast averaged higher than the Loop, South Loop and West Loop.

If this price range is a bit steep for you but you want to move close to the Chicago downtown area, the next in line may be north of the downtown area which is known as Lincoln Park.  Lincoln Park is very trendy and upscale, but has a deal here and there.  On the southside of town you can find a condo in Bridgeport and Bronzeville for much less than going North and you’re literally only five minutes for the Loop. 

There’s a price you’re going to pay for having a downtown Chicago condo address.  It puts you in the center of commerce, shopping, bars and restaurants and an easy commute to work if you work downtown.  They may be expensive but when you compare the cost for commuting and what your time is worth saving a few hours every business day, you may end up actually realizing that it’s better to pay now than later in time and travel.  Downtown Chicago condos are an image.  You may want part of that as well.

Tags: , , , ,
Posted in downtown Chicago condos | No Comments »

Downtown Chicago Condos

Friday, June 26th, 2009

There are many Downtown Chicago condos available at incredible prices right now.  Advertisements went out again this week on a number of projects slashing prices.  This week we are featuring three developments in the Chicago area; Trump Tower Chicago, Silver Tower Chicago and Aqua Tower Chicago.

These three Downtown Chicago condo developments are powerhouses.  They are well recognized in the condo downtown Chicago community and they deserve to be.  All three are very unique and make up part of the beautiful Chicago downtown skyline.

People come up to me constantly talking about the Chicago condo discounts.  They want to know how they can own one of these incredible Downtown Chicago condos at a discount.  Developers are begging for business right now.  They will basically make any type of deal with you.  The key is to be able to finance and close on your Chicago condo.

Can you finance a condo?  How is your credit?  Do you have enough for the down payment on one of these condos or will you need to do a rent to own program?  Financing a condo that starts at $500,000, normally will require twenty percent down.  Every financing situation is different, so before you start this long process of trying to find the best condo for you, the best thing to do is start talking to financing people.  On the “FinanceACondo.com” website, there are four lenders that specialize in condo financing. The best thing to do is to call and start interviewing each one to see who may have the best program for you and what it will take to get you to own a downtown Chicago condo.

Once the financing is established and you feel comfortable knowing that you can close on a condo, the next step is finding one.  If you go to the “OwnACondo.com” website, they will break down a number of Downtown Chicago condos and allow you to search a Multiple Listing Service commonly known as an “MLS”, which has every condo available. This will be a lot of fun for you.  You’ll see every condo available and you’ll have fun seeing the different areas and how all will be priced differently.

When you’ve rounded up a few condos you’d like to take a look at, call your OwnACondo.com Realtor.  Tell them who you’re working with on the financing end and start your journey on closing that Downtown Chicago condo.

Tags: , , , ,
Posted in downtown Chicago condos | No Comments »

Downtown Chicago condos

Saturday, June 20th, 2009

Are you looking to buy a downtown Chicago condo?  We are featuring three new developments this week: SoNo Condominiums, Glashaus Condominiums and The Kinetic Condos. You can either click on the links above or go directly to the OwnACondo.com website to view these Downtown Chicago condominiums.

Downtown Chicago condominiums have never been more affordable.  The wholesale market has come into play and the prices have dropped significantly.  I’ve seen foreclosure and short sale condo prices that would literally knock your socks off.  There are condos in downtown that were going for $1.8M last year that sold through foreclosures at $500,000 and $600,000.  That’s thirty cents on a dollar.

If you’re interested in investigating the downtown Chicago market, please call us at 866.696.2266 and we’ll assign you to a qualified downtown condo consultant free of charge.  If you end up buying a condo in downtown Chicago, the real estate consultant would get paid by the seller of the downtown Chicago condominium.

Downtown Chicago condominiums began falling in price in 2006 when developers of these condominiums started to see the volume of condos not selling.  As time went on, it got worse.  In 2007 and 2008 more and more developers were in a position of almost needing to just give them away to avoid having to be foreclosed on.  This downtown condo market still exists today.  The deals are abundant and the investors and the smart ones are getting out their check books.

Can you imagine three to five years from now how much you may be able to make if these condos in downtown Chicago zoom upwards in value?  There may be a chance of hundreds of thousands in appreciation as time goes on. Think of buying a foreclose downtown Chicago condo at $600,000 that was originally priced at one million, seven hundred thousand.  And then it goes up to even $1.2M. That’s double appreciation.  It’s very possible with the deals that are out there right now.

Before you move forward of any condo investment, make sure to check the sold comparables so you can see what condos sold at what prices.  This will help immensely.  You need to know what sold at what price before you can truly know what kind of deal you’re getting.

Downtown Chicago condominiums can also be known as River North condos, Loop condos, West Loop Condominiums and South Loop condominiums, Gold Coast condominiums and Streeterville condos.

Tags: , , , ,
Posted in downtown Chicago condos | No Comments »

Downtown Chicago Condos

Wednesday, May 27th, 2009

The selection of Downtown Chicago Condos is tremendous right now with just about every developer putting together great deals on their remaining inventory. Downtown Chicago condos is made of a few very distinct areas known as The Loop, Chicago’s River North, Chicago’s South Loop, Chicago’s Gold Coast, Chicago’s West Loop and Chicago’s Streeterville area.

These are the six primary areas that make up Downtown Chicago Condos. If you’re looking to get a detailed list of everything for sale in these six areas, go to the OwnACondo.com website’s home page and click on “condo search located in the middle of the page.  Here you’ll have to fill in some information about yourself and you’ll be sent a password back to your email address.  This will be a very quick process.  Once you retrieve your password, you’ll click on a link from the email, put in the password and away you go.  You’ll be able to search all the Downtown Chicago condos for sale.  There are thousands of Chicago Downtown condos for sale ranging in prices as low as in the one hundred thousands to as high as ten million for gorgeous penthouses in upper story skyscrapers.

If Downtown Chicago condos are a little too pricey you can also search the Chicago area for condos that lie on the outskirts of Downtown Chicago.  Here you’ll find very nice condominiums but you’ll see them priced literally 30% to 50% lower than Downtown Chicago condos.  People pay for location.  If you want to be right in the middle of commerce, stores of retail clothing and busy and trendy Chicago restaurants, you’ll pay the price for living in a Downtown Chicago condominium.

With all of that said, there has never been a better time to capture a deal for these magnificent gems.  The market is flooded with condo inventory from the crash of 06, and the developers are ready to deal.  If you want to have an OwnACondo.com specialist help you, they have an inside look at everything that’s available in the Downtown market today.  You can reach an OwnACondo.com agent by calling 630.812.2700 for more info.

We talked about the big six areas.  Downtown Chicago condos are not only a home but a condo investment as well.  Choose wisely, take your time and do a lot of due diligence.  Check everything.  Remember, this may be the largest single biggest purchase you’ve ever made.  Take the time out to do it right!

Tags: , , , , ,
Posted in downtown Chicago condos | No Comments »

Downtown Chicago Condos

Saturday, May 16th, 2009

Downtown Chicago condos are probably the most popular of all condos selling in the Chicago condo market.  As a condo company specializing in Chicago condos, we see 40-50% of all our leads come from this market. OwnACondo.com advertises everywhere in the Chicago condo market, but in the end, almost half of their leads comes from the Downtown Chicago condo area.

What comprises Downtown Chicago condos?  Chicago River North, Chicago Loop, Chicago South Loop, Chicago West Loop, Chicago Streeterville, and the Chicago Gold Coast area make up Downtown Chicago condos.  In 2008, over 2,500 condos sold in what is known as Chicago’s near north area of the Loop.  Each condo sold for an average of $585,000.

To own a Downtown Chicago condo, I’d start with financing the condo.  Unless you have $600,000 cash, you’ll need to get a lender to give you some cash.  OwnACondo.com has a division that does nothing but finance condos called FinanceACondo.com (clever name). FinanceACondo.com’s web page will give you all you need to know about condo financing.  Once you’ve been given the go ahead to move forward on your purchase, now’s the time to start looking.

OwnACondo.com has hundreds of units they are exclusively representing, but if they do not have the exact condo, you can also extract every condo available by looking through their MLS condo reach on their website.  This allows you to look at every condo for sale in Downtown Chicago or Streeterville, River North or Lakeview.  The selection is humungous and you’ll need several hours to sort through it all.

There are so many new developments going on in today’s market place that it ends up being difficult to choose one.  Leaning on a Realtor professional will not hurt.  They live in the market daily.  They show Downtown Chicago condos for a living.  Call an OwnACondo.com Realtor and ask them questions until they’re blue in the face.  Learn as much as you can about a condo complex before you make the offer.  The amenities are limitless, the choices have no boundaries.  It’s up to you to get what you want.  Focus, shoose the right Realtor, do you due diligence and close on that Downtown Chicago condo.

Tags: , , , , , ,
Posted in downtown Chicago condos | No Comments »