I'm helping my grandpa buy a property in the streeterville area, and wow, 1 million really doesn't get you much anymore. Please feel free to comment on any observations you may have on getting a solid investment for his savings.
600 n lake shore drive south tower
1800 sq feet on lsd north or in that area where he has an unobstructed lake view facing east. Right above the pedway to ohio st. beach/navy pier, etc. This is one of the last remaining lots on n lsd that is new construction, (besides spire which would be out of his price range, I called the fordham group and 1800 sq feet will cost roughly 2 million!?!) Anyhow I know there is another building that was built in 2003 by the same company right near, but he is only looking for new construction that will be done in a few years, so this is pretty much it. My only concern is that it's on the lowest floor (5th) so the traffic may be loud. Also the upgrades and finishes are nothing to be impressed about, very substandard, unlike 600 north fairbanks or anything else a few blocks west and not on lsd. Basically he's paying for location it seems, but 1800sq feet on a low floor even if it is facing east to the lake with parking for 960k doesnt seem like a good deal. Oh well there is no negotiation for new construction and thus he will probably buy.> |
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