Tasteful friends, the Chicago Real Estate collapse is real

Fuck. I need to take the Illinois bar exam next year.

That video is too speedy. But why so cheap? Are people leaving the Gold Coast?

What are taxes?

The maintenance on that place is at least $3K per month.

Maybe the building is in financial or mechanical trouble?

No collapse. Chicago real estate has always been cheap.

Nice, but no view.

Chicago real estate sometimes appears reasonable but often is a trade off of higher taxes or HOA. Even in the south suburbs, real estate taxes are relatively high and it impacts the price. Real estate taxes in the area might be 5k a year on an average house to upwards of 30k on larger properties.

HOA's are probably crazy...especially if someone combined several condos

Da na na na, da na na na, the duplex, plex, plex, plex, plex

Chicago has never been close to NYC, LA, or Seattle real estate values and it shouldn’t. It’s a flat, car-centric hub for people who commute to work.

Someone would choose St. Paul or Minneapolis over Chicago if they were simply looking for an affordable urban condo with four extreme seasons.

Chicago has always had reasonable prices. That being said - that video is a steal, but I suspect it's a co-op building and the maintenance and taxes are probably $5000 a month.

My mom's 1BR co-op on Lake Shore Drive was $1400 a month maintenance. The price looked like a steal - but co-ops in Chicago are a nightmare. Don't get me started on the co-op board acceptance process. ALL your tax records from the past 5 years, all your memberships at clubs, plus a detailed background check on you and others in your family.

I'm betting it's a co-op - I would never.

I live in Minneapolis and don't see the point of Chicago. If I want a big city I'd choose NY. Outside of that it's about the balance of quality of life and affordability.

Jesus. Did they put the camera on a robotic vacuum cleaner?

Good one, R14.

Love it, except for that balcony(?) overlooking the living room.

R13 - what do you mean you don't see the point? Chicago has a ton to offer, has great transportation and is half the price of living in NYC. Much less stressful as well.

I don't see the point of Minneapolis - frozen tundra, not much of a downtown, things are spread out, isolated from the rest of the country, bad public transportation, and their 'fame' is that they have a series of enclosed walkways downtown so you don't have to walk out into the frigid wasteland? Oh and a big mall that's a hassle to get in and out of.

Madison WI has gotten quite expensive as a bunch of tech companies opened in the area and pushed up home values. Chicago needs more tech.

The stairs seem awfully narrow, but maybe it's just the video.

Past sale on a higher floor for $1.389 mil at 20 E Cedar. More realistic price for this area. Listing has floorplan.

R19 Correction. Sold for $1.566 mil

[quote]It’s a flat, car-centric hub

Never been to Chicago, huh? It isn't remotely "car-centric" - it's extremely dense with high public transit use.

But it certainly is flat.

horrendus charges and taxes on this unit

I love how people in their doubles-wides in Flyoverstan, are armchair experts about big city real estate.

On DL, Chicago is the drained pasta of cities.

Well, at least it’s not Cheryl’s pussy or Erna’s breath.

Interestingly, Sir Andrew Davis and his wife moved to Chicago in 2000 as his official 'permanent' residence, or as 'permanent' as somebody who travels that much is. He spent a fair amount of time working with the Chicago Lyric, but he could have just as well kept his residence in the UK. Chicago has a vibrant arts and intellectual scene as anywhere (this is coming from a guy who has lived in Mayfair W1 on and off for decades), and probably like the place.