Americorp Real Estate
Managing Broker/Partner, e-PRO
I find the views to be breathtaking!
Just as an update to your post, a bank owned unit # 2001 sold for $320,000 in September 2012.
The prices are definitely on the rise since the crash, perhaps not where you need them to be just yet, but they are climbing!
Real Estate Broker, J.D.
Charles Rutenberg Realty
Not much is going to happen in your building until after the lawsuit gets settled.
Nobody has the "crystal ball"; but in my opinion, it may take five years to recover your value. Under $300k and over $1mill seem to be the active segments of the market currently. Depending on your financial situation, you may have some alternative options to a traditional sale.
Best of Luck,
Anything is possible, we can't tell the future for the next two years. The market is going strong right now however there may be a lot more banked properties hitting the market over the next two years which could hurt your condos value. Your best bet is to do a market analysis and a CMA so you can see the past and current trends and also have an accurate value of your condo in today's market.
Sohail A. Salahuddin | Broker Associate | Visionary
Innovative Property Consultants Team l Sales and Leasing
Jameson Sothebyâ€™s International Realty
425 W. North Ave. | Chicago, IL 60610 â€¨
O: 312.929.1565 | C: 312.437.7799 | F: 847.805.6030
"Extraordinary Service For Extraordinary Lives"
I would have to see your condo to give you an accurate report to the possible value of your home. I do specialize in the South Loop. The market is getting very hot right now. I see a lack of good available units throughout the South Loop.
I did look up recently sale activity in your building for 2 bedroom condos. I know the value of your place is greatly hurt with the number of short sales, foreclosures, and the special assessment that you have in the building. You do have a way out and I can give you several options.
Feel free to call me or email me to set up an appointment.
John Zloza, Broker Associate
Baird & Warner
Direct/ Cell: 708-935-4997