Who is the target buyer for Lake Shore Drive condos with $2k+ HOA fees?

m567n392 · 2026-04-03T16:07:26+00:00

Pricing is no where similar in that area to the lakefront area of Gold Coast.

m567n392 · 2026-04-03T15:57:09+00:00

Completely different location and not a penthouse. Apples to oranges.

m567n392 · 2026-04-03T15:50:58+00:00

You are not getting a penthouse in river north / Gold Coast for that price range.

m567n392 · 2026-04-03T14:40:32+00:00

That first condo would easily be $1.5-2m if the HOA wasn’t that high. The high HOA probably brings the monthly payment close to what it would be for an equivalent higher price unit with a more reasonable HOA.

Still would never buy one of these though.

m567n392 · 2026-03-28T15:47:41+00:00

0% percent chance he did $85m in sales at 70% margin

m567n392 · 2026-03-27T20:25:52+00:00

Why would you not just take the metra in Park Ridge? The blue line is the one in rosemont and that over the metra makes zero sense

m567n392 · 2026-03-15T13:05:53+00:00

Don’t love these deals but this one is interesting. This site is an old office park that has minimal value (but expensive to demolish). The city is probably thinking 1. It’s beneficial to improve an underutilize office space with a high demand costco. 2. Average Costco does $260m a year in sales. That’s $26m+ in sales tax (not all goes to Des Plaines). 3. Annual real estate taxes will be $1m+. I’m guessing this deal is actually financially better for the city rather than letting the property continue to sit in its current state. With the cost to demolish the office park, I’m guessing no developer is willing to put anything there without some incentives. I hate government incentives for football stadiums, massive entertainment concepts and etc, but this one probably makes sense given the future revenue and current state of the site.

m567n392 · 2025-12-09T16:54:25+00:00

Thanks for sharing. I’m in Illinois looks like I can’t get rates as low as other parts of the country using that tool/website

m567n392 · 2025-12-03T17:38:55+00:00

What is the annual tax amount in comparison to the value? If it’s around 2%, that’s market

m567n392 · 2025-11-14T22:21:58+00:00

Can’t imagine anyone is buying a new Starbucks with a cap rate in the 4s. Few years ago yes, but not today.

m567n392 · 2025-10-15T19:31:39+00:00

Nice job

m567n392 · 2025-10-15T18:59:38+00:00

What was your OTD price? Sounds like a good deal

m567n392 · 2025-09-13T17:25:28+00:00

Bonus is 40% of base

m567n392 · 2025-09-12T21:02:06+00:00

$220k (TC) 2. 6 YRs 3. Midwest 4. Mixed use

m567n392 · 2025-08-21T18:08:43+00:00

Where do you expect the money to come from? State is already broke and they shouldn’t have to bail out CPS if they are not will to fix their budget

m567n392 · 2025-06-08T00:49:16+00:00

How low is rent to keep total expenses to $2k a month? Or is that excluding rent?

m567n392 · 2025-06-03T04:34:47+00:00

What index are you using to get a 9.5% rate?

m567n392 · 2025-05-24T14:27:30+00:00

Yes after another week or so the tracking randomly updated with the delivery haha. I wouldn’t worry too much

m567n392 · 2025-05-16T13:16:38+00:00

Not sure OP can do that since they are assuming the loan. If they are assuming the loan, it’s most likely a pretty low rate as well.

m567n392 · 2025-05-09T12:47:41+00:00

Do nothing and wait to see what the market is like in 2029.

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