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Old 11-09-2011, 10:03 PM
 
3 posts, read 5,326 times
Reputation: 10

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Hi,

I was wondering if anyone know the monthly assessment fees and other fees and expenses associated with a small bachelor unit at Trump Tower. Is there something I should be concern about the building if I were to own a unit. Any major restrictions, etc. I try to look online with no luck. I'll engage a real estate agent soon but I got a feeling some of the info may be a bit bias.

I am relocating to Chicago for work and plans to purchase rather than rent. I am single, so a condo would do. I've been to Chicago a number of time and love the area around Michigan Ave.

If there are better options, please share but I've been to Trump, it just seems quite a major cut above the rest.

My budget is under $400K

Also, what's the property tax rate in that area of Chicago?

Thanks!
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Old 11-09-2011, 10:44 PM
 
Location: Not where you ever lived
11,535 posts, read 30,259,477 times
Reputation: 6426
If you googgle: chicago Il trump tower = you will learn more about the building and who to contact.

Welcome to your new home!
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Old 11-10-2011, 07:34 AM
 
1,210 posts, read 3,061,955 times
Reputation: 651
Not that you asked, but I feel that you can probably get a bigger place that's just about as nice as the unites in Trump. You're paying for the name there but there are many units that can be just as nice.
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Old 11-10-2011, 07:38 AM
 
14,798 posts, read 17,680,532 times
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Personally, I would never give a dime to that man.
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Old 11-10-2011, 08:26 AM
 
Location: River North, Chicago, Illinois
4,619 posts, read 8,168,513 times
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The Trump has some of the highest per-square-foot costs in Chicago, so for $400k, you'd get something about half the size of other not-Trump-but-still-quite-nice places downtown and you'd be paying very high assessment fees (what New Yorkers call "maintenance" fees), and high taxes.

Unless you're really hung up on the brand, there are much better values in Chicago, even in the luxury highrise category.
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Old 11-10-2011, 08:47 AM
 
Location: Uptown
1,520 posts, read 2,574,570 times
Reputation: 1236
is 400k even enough for a studio in that building?
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Old 11-10-2011, 09:45 AM
 
Location: Oak Park, IL
5,525 posts, read 13,948,017 times
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Looks like there are 3 studios under 400k for sale at the Trump. Here's the lowest price unit (401 N WABASH Ave #2410, CHICAGO, IL 60611 | MLS# 07718062). Parking is extra (50-60k), and association fees are 1k/month.

The cheapest 1 bedroom is 548k. (401 N WABASH St Unit 38-E, Chicago, IL 60611 | MLS# 07807042)
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Old 11-10-2011, 09:50 AM
 
14,798 posts, read 17,680,532 times
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Quote:
Originally Posted by emathias View Post
The Trump has some of the highest per-square-foot costs in Chicago, so for $400k, you'd get something about half the size of other not-Trump-but-still-quite-nice places downtown and you'd be paying very high assessment fees (what New Yorkers call "maintenance" fees), and high taxes.

Unless you're really hung up on the brand, there are much better values in Chicago, even in the luxury highrise category.
Very good advice.
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Old 11-10-2011, 10:55 AM
 
Location: Tower Grove East, St. Louis, MO
12,063 posts, read 31,618,797 times
Reputation: 3799
Quote:
Originally Posted by oakparkdude View Post
Looks like there are 3 studios under 400k for sale at the Trump. Here's the lowest price unit (401 N WABASH Ave #2410, CHICAGO, IL 60611 | MLS# 07718062). Parking is extra (50-60k), and association fees are 1k/month.

The cheapest 1 bedroom is 548k. (401 N WABASH St Unit 38-E, Chicago, IL 60611 | MLS# 07807042)
That is straight insane.
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Old 11-10-2011, 11:24 AM
 
8 posts, read 39,238 times
Reputation: 23
Ya, I don't think most Chicagoans get caught up in the marketing drivel that the E/W coasts do. Sure, the name is recognizable, marketing material is stunning and the building arguably looks good. But underneath it all you have a generic concrete condo building that is really no different that a 20-30 other buildings in the city that cost a lot less to live in. I wouldn't be surprised if the association fee included a Trump tax to have his name on the building.
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