Condos for Sale in Lake Shore East remain hard to come by as inventory continues to remain low, at least in the newer construction buildings. There have been a great deal of units to sell this summer. While a couple were bank owned and a few were short sales the majority were regular sales. Pricing in this area never took a huge hit like other areas of Chicago, but it definitely did see a dip in 2009 and 2010. Pricing has definitely increased from 2009 and 2010 levels but still remains below the peak sales prices of 2007 depending on the floor plan. So lets talk about what is currently available as of the middle of September, 2013.
420 E. Waterside – The Regatta
The Regatta currently has several 1 Bedroom units under contract. There is a small junior 1 Bedroom available for $200,000 that just hit the market. I assume this will be under contract very quickly. The only other 1 Bedroom unit on the market is a 14′ tier unit which is 825sf and is priced at $340,000.
There are a few Two Bedroom units available, specifically there are three 01′ tier units available priced at $585,000, $619,000 and $649,900. These units are 1530sf but some of the square footage is eaten up in a long hallway and in the master bedroom so the living space feels smaller than 1530sf. Just under a year ago one of these units sold as a foreclosure for $495,000. How the market has changed!
Lastly in this building there is a 2500+sf penthouse for sale that is a 3 Bedroom / 2.5 Bathroom listed at $2,195,000.
450 E. Waterside – The Chandler
Well if you want large One Bedrooms you are in luck there are actually a few available which is rare to see. These three large 1 Bedroom units are priced at $405,000, $430,000 and $455,000. The one priced at $430,000 is an approved short sale and the 430k price is the approved short sale price. These units are 1136, 1040, and 1136sf respectively. If you can make do with a small 1 Bedroom there is a 904sf unit priced at $355,000….it is on a low floor though!
Currently there are not any 2 Bedroom units for sale in The Chandler. There are however two Three Bedroom condos available priced just over $1.2mil and offer amazing North East views.
What are the prime views in The Regatta and The Chandler?
In Chicago many people prefer south views as you will have a much brighter unit than a unit facing north. However, in the Regatta and the Chandler the preferred view is facing North! The north view allows you to capture the Chicago River, an amazing north skyline as well as Navy Pier!
Paul Blackburn is an Illinois Licensed Broker and Realtor with @ Properties in Chicago. He can always be reached via e-mail at Paul@PKBlackburn.com