They say the housing market in Chicago is going to soften big time. There's more condos going in at high prices and not enough people to purchase . . . Plus with the interest rates that should be headed back up people aren't going to be able to afford to drop quite as much on a home and the prices will (supposedly) fall a bit because of it. I'd feel sorry for someone who did an interest only loan and hadn't paid off any of the principal thinking they'd make a killing on the appreciation.

I'm not sure if that's going to be good bad or indifferent to you since you already own a condo out there and I have no idea your staus on that but figured it was worth mentioning.
Derek | Homepage | 08.30.05 - 5:45 pm | #

That condo sounds incredible. Good luck!
Also, I must say I'm hot for Derek now.
Michael | Homepage | 08.30.05 - 6:32 pm | #

That plan looks fantastic - loooovvee circular rooms
Eddy | Homepage | 08.31.05 - 4:54 am | #

i think it will be a great investment! i am a sucker for 'private deck'.
Red Hot Sexy Papa | Homepage | 08.31.05 - 6:48 am | #

Jake - I know this building well. Keith and I hooked up a friend of mine with a unit there. He should be able to hook you up with pre-construction pricing and a contract if you so wish. I belive the two bedrooms are in the high 200's. It's a great building - the features are outstanding. The building has been so gutted that the exterior walls are all that's left. You will have acoustically treated floors and ceilings which means NO NOISE. And you will live only blocks from me - which is the best feature by far. b
Brandon | Homepage | 08.31.05 - 8:10 am | #

That price doesn't sound bad considering all you're getting. I don't suppose you'll share the locale with us?
Michael | Homepage | 08.31.05 - 12:13 pm | #

Jake,

If you're looking to be in it long term, forget about interest rates & the housing bubble & go for it! (if only for the cool round room!)
Steve | Homepage | 08.31.05 - 12:21 pm | #

Love the floorplan and the round room!
purpletwinkie | Homepage | 08.31.05 - 3:56 pm | #

Jake-That's a great old building. And it's scheduled to get a brand new interior. The best of both worlds.

There is a similar but slightly larger building a block east. The corner units with the round rooms are three bedroom units but you might want to take a look at how they are constructed and what they look like when furnished.

I was at an open house there last weekend. The three bedrooms are out of my price range but they looked pretty cool.

It's a great neighborhood and we would be honored to have you as part of our community.
Richard | 08.31.05 - 5:00 pm | #