Posts Tagged: Condominiums

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Comparing Assessments – Part III

As part of my ongoing rant about the high condo assessments in Chicago I’d like to revisit a topic I covered a while ago – what is the appropriate tradeoff between price and assessments? In that previous post I got into some fairly esoteric finance details about discounted cash flows and perpetuities that may have… Read more

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1400 S. Michigan Ave. Condo Auction

Another South Loop condominium development is looking to clear their unsold inventory via an auction. On November 15, 2009 Michigan Avenue Tower II will auction off 41 units in one hour at the W Hotel, starting at 1:00 PM. Check out the link above for information on the building, floor plans, and some historic sales… Read more

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Comparing Assessments

When shopping for a condo or a townhouse in Chicago buyers are often confronted with comparing units that have assessments that are significantly different. So how do you make this comparison? First, the simple part which almost everyone intuitively knows. Check to see if heating and/or air conditioning is included in both. If not, then… Read more

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When Your Condo Building Doesn’t Have Enough POO

There is a too-often ignored field in the MLS for condos which is abbreviated in the system as POO – percent owner occupied. In the current environment this number has become critical for buyers seeking mortgages since lenders see a low number – less than 70% – as a sign of trouble. In other words,… Read more