I have helped two clients bought studios at the 512 McClurg this year, one bought a studio on a high floor foreclosure from the bank, the other one bought from a regular sale on a mid to high floor. The closing price is between $170k – $185k.
Both units are rental properties and we get to rent them out within 30 days after the closing. This building has very low maintenance fees compare to buildings around it. One of the reasons is it does not have a swimming pool, however, it does have Homes gym in the building which residents could join with a discount. In the gym, there is a great indoor pool.
I have noticed that there are quite a few units under contract at the 415 north water and 445 north water. At the 415 north water, there are 2 large units under contracts right now, they are both 3 bedroom and 3 bathroom units, with around 4700 square feet. The listing price was around $2.5m each.
At the 445 E north water there are currently 2 units under contracts, one is a large 2 bedroom 2 bathroom around 1,850 square feet and the other one is a 3 bedroom, 3 bathroom around 4,000 square feet. Their listing price is between $714K and $2.2M.
It is very interesting to see all the three bedroom units are under contracts in these two buildings. This is a very well maintained building, with indoor swimming pool, sun deck, work out room, 24 hour doorman, walking distance to the lakefront, the river, grocery stores and shopping.