Foreclosures in 10 E. Ontario – Ontario Place UPDATE

10 E. Ontario, also known as Ontario Place in Chicago is known for its massive amount of short sales and foreclosures. For those of you who read my blog regularly of have read my previous blogs with other companies you know that I have less than a loving attitude towards any American Invsco development. This is especially true with 10 E. Ontario. Here is the most recent update for those of you who are wondering “What the hell is going on over there?”

Today is November 1, 2011 so if we go back 1 full year of closed sales here is the data we get.

55 Total Closed Condos The Building has a total of 467 Units

Priced between $125,100 and $310,000

The question is, how many of these 55 were short sales or foreclosures? ALL OF THEM! Yes, that is right, ALL of the 55 units closed out on the MLS in the past year were either Bank Owned or Short Sale condos.

What is on the market right now?

19 Units on the Market

Priced Between $129,900 to $350,000

15 of these 19 are UNDER CONTRACT.

1 is Temporarily OFF Market

3 Are ACTIVELY for Sale. Unit 1212 is a Junior 1 Bedroom priced at $163,000 and is listed as NOT A SHORT SALE and does not appear to be bank owned. HOWEVER, a Lis Pendens was filed on 3/12/2010 according to public records.

Lastly, Unit 3008 does not say either way whether it is a Foreclosure or Short Sale, despite the fact that the MLS does require listing agents to disclosure if a property is a short sale. The Unit is currently listed at $175,000 and is under contract. The previous owner paid $392,000 in 2006 and had an initial mortgage amount of $313,400.

The majority, almost all recent sales, have been purchased with CASH and not financed.
As always any questions regarding this building, to schedule showings, to list property; please do not hesitate to contact me:

Paul Blackburn – Realtor

@ Properties

Paul@PKBlackburn.com

 

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