E, Home Buyer in Chicago, IL

60654 foreclosures and deals

Asked by E, Chicago, IL Wed May 23, 2012

Is it a good time to buy a newer 1 bedr 1 bath condo in river north or gold coast ? What are the average prices now? Any good buildings for foreclosures?

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Michael Vrie…, Agent, Chicago, IL
Mon May 28, 2012
60654 is a phenomenal area, and has been really in demand these past two months. We're engaged in multiple offer scenarios with a few buyers here and have completed quite a few condo and townhome showings.

Shortsales and foreclosures do pop up here, though not with the frequency of some of the neighboring zipcodes. When deals pop up, the competition and bidding is pretty fierce so you will want to have your homework done ahead of time and work with an extremely quick and responsive agent (or team of agents).

The link below will provide an up to date market snapshot of 1 bedroom activity in the zip code over the past 6months. This will answer your question on average pricing quite completely.

I do think now is a good time to buy -- I'm a little concerned that I'm consistently seeing that 2 to 12 months ago was the *great* time to buy. Recently on their first offer attempts many of my buyers try to match (or beat) the market in the past -- usually unsuccessfully as other bidders are more then prepared to start paying higher prices then 2010, and 2011.

Please feel free to reach out if this is of value and you'd be interested to start working together on your purchase.

Michael Vrielink
Chicago Real Estate Artists LLC
Managing Broker & Realtor
Web Reference:  http://db.tt/TXdY5JPe
1 vote
Mike Opyd, Agent, Chicago, IL
Thu Mar 21, 2013
Foreclosures in these areas are rare and when they do come up every buyers out there is going to bid on them and drive the prices way up over list price. If your looking for "foreclosure buildings" your going to have to pay cash to buy there. Maybe 757 Orleans, 33 Ontario, 10 E Ontario...
0 votes
Terry Perdue, Agent, Chicago, IL
Sun Jun 3, 2012
Its always a good time to buy.
0 votes
Ivan Sagel, Agent, Chicago, IL
Wed May 23, 2012
There are some great values there with short sales and foreclosures. The market is heating up. I am happy to help you find a place. My services are free to you as a buyer.

I look forward to working with you,

Ivan Sagel
0 votes
Matt Laricy, Agent, Chicago, IL
Wed May 23, 2012
There are tons of deals out there. I would love to show them to you. Give me a call.

Matt Laricy
Americorp Real Estate
Managing Broker/Partner, e-PRO
0 votes
Bill J Delig…, Agent, Naperville, IL
Wed May 23, 2012
Yes - it is a very good time. Do you have the Cash or a Pre Approval? If no, get it - If yes, start your search process by working with a Realtor.
0 votes
Philip Sencer, Agent, Chicago, IL
Wed May 23, 2012
It was a great time to buy in those areas 2-3 yrs ago for some killer deals. Things have changed and there are fewer 'killer' choices and when they pop up they tend to go faster. There are still some very good deals, but be careful of some buildings.......like 2 E Oak unless you know the issues. I see some unusually good prices in some of the Sandburg buildings and 211 ohio/233 erie/30 elm and others from time to time. Let me know if you would like me to set up a search.
0 votes
what is wrong with the 2E oak building?
Flag Fri May 25, 2012
Juan Soto, Agent, Westchester, IL
Wed May 23, 2012
Hi E,
There are some properties that you can get for a good price( Short Sales and REO's) in most buildings in that zip code. Contact me for a list of available properties and more information....
0 votes
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