south loop buildings half sold (Chicago: townhouses, to buy, construction)

[Chicago60614]

Many of these buildings will be filled with people who bought taking advantage of fire sales. I have coworkers who live in the West Loop and their buildings are selling units at 70K to 90K less than what they were going for a year ago just to clear out the inventory.

Some people are getting AMAZING deals.

[Drover]

Originally Posted by ChiMack

Chicago Journal

http://www.chicagobusiness.com/downloads/20090615a.htm

Apartment glut looms | Crain's Chicago Business

are people waiting till the economy picks up? plus why are they opening up so many buildings if they arent selling?

Wow ChiMack, you're really on to something that nobody else was aware of before. Well, except for the half-dozen or so conversations we've already had on the issue of South Loop overdevelopment.

[meatpuff]

Originally Posted by Carantini

hah, check landlordc credit instead.
how do u find property in s. loop to rent? craigslist? go in person? word of mouth?
around how much are u renting fro irish? 1000 for a 1br? more than that or less?

There certainly are tons of them for rent that show up on Craigslist and the MLS. Why don't you look around on there for a minute? I've been looking at apartment listings in other parts of town and my biggest problem is filtering out all the South and West Loop listings. Those people are getting annoying getting their listings to pop in searches for other places.

[meatpuff]

Originally Posted by Drover

Wow ChiMack, you're really on to something that nobody else was aware of before. Well, except for the half-dozen or so conversations we've already had on the issue of South Loop overdevelopment.

Drover, I'm curious why you're so mad at ChiMack for starting this thread? The OP never said anything as though he had found something no one else was aware of. He posted news articles that are very recent and have been published since the last time people on here talked about South Loop overdevelopment.

Would you be less mad if he had responded to one of the other long-dead threads instead of starting this one? Maybe ChiMack wasn't around when those threads were active and he would like to talk about South Loop overdevelopment, today. The thread has a lot of responses, so obviously other people want to talk about the same thing.

I'm not sure what your problem is. Maybe if you don't want to talk about South Loop overdevelopment you should just stick to threads that interest you.

[Drover]

Originally Posted by meatpuff

Drover, I'm curious why you're so mad at ChiMack for starting this thread? The OP never said anything as though he had found something no one else was aware of. He posted news articles that are very recent and have been published since the last time people on here talked about South Loop overdevelopment.

Would you be less mad if he had responded to one of the other long-dead threads instead of starting this one? Maybe ChiMack wasn't around when those threads were active and he would like to talk about South Loop overdevelopment, today. The thread has a lot of responses, so obviously other people want to talk about the same thing.

I'm not sure what your problem is. Maybe if you don't want to talk about South Loop overdevelopment you should just stick to threads that interest you.

Because it's annoying as hell to have New Yorker sit here and post link after link of negative news about Chicago without any rhyme, reason, comment or context, especially when they have no particular significance, as if none of us couldn't get the exact same thing by scanning the homepages of the same well-known local news websites he pulls his headlines from. It was old long before today.

But hey, I guess I should be grateful that at least this one wasn't crime-related.

[Irishtom29]

Originally Posted by Carantini

hah, check landlordc credit instead.
how do u find property in s. loop to rent? craigslist? go in person? word of mouth?

Try this site
Chicago Lofts For Sale | Chicago Lofts For Rent | Urbanspan.com


This is the site I used to narrow things down. We found a place on there and then negotiated the rent down somewhat; rents posted are not firm, condo owners down there are eager to rent.

We found a place owned by an older couple from the Burbs who paid cash and are quite happy to have mature tenants looking for a long term stay.

[west lawn kid]

so with all these empty places what are the chances of me getting one of these 2 bedroom appartments for 200K?

[surlycue]

Originally Posted by west lawn kid

so with all these empty places what are the chances of me getting one of these 2 bedroom appartments for 200K?

Next to impossible. You can probably get a newer construction 2/1 (around 850 sqrft, not a large unit) in the south loop for around 279K.

[Avengerfire]

It is not impossible at all to get a 2 bedroom in the lower to mid 200's in the South Loop or many other places in the city right now.

Examples:

http://www.cribchatter.com/?p=6877

http://chicago.craigslist.org/chc/reb/1223701967.html (broken link)

http://chicago.craigslist.org/chc/reb/1218085850.html (broken link)

[surlycue]

^^as long as you don't have a car.