1oo e huron unit 2502 sale history – 100 E Huron Unit 2502 sale history unveils a fascinating story of this property’s journey through the market. From its initial purchase to its most recent sale, each transaction reflects the ebb and flow of the real estate landscape. This analysis delves into the historical sales data, market trends, and valuation factors that have shaped the unit’s value over time.
The unit itself offers a desirable combination of size, features, and amenities, making it an attractive option for both homeowners and investors. Situated in a vibrant neighborhood, 100 E Huron Unit 2502 enjoys proximity to local attractions, dining, and transportation options.
This strategic location further enhances its appeal and contributes to its overall value.
Property Overview
E Huron Unit 2502 is a luxurious condominium located in the heart of Chicago’s Gold Coast neighborhood. This stunning residence offers a spacious and elegant living experience with breathtaking views of the city skyline.
Property Features
This unit boasts a spacious floor plan with over 2,000 square feet of living space. The expansive living room features floor-to-ceiling windows that flood the space with natural light and showcase panoramic views. The gourmet kitchen is a chef’s dream, featuring top-of-the-line appliances, custom cabinetry, and ample counter space.
The master suite is a sanctuary, complete with a walk-in closet, a spa-like bathroom with a soaking tub, and separate shower.
Building Amenities
E Huron is a full-service building with a wide range of amenities designed to enhance residents’ lifestyles. The building features a 24-hour doorman, a state-of-the-art fitness center, an indoor swimming pool, and a beautifully landscaped outdoor terrace. Residents also have access to a business center, a conference room, and a private parking garage.
Neighborhood Amenities
The Gold Coast is one of Chicago’s most desirable neighborhoods, known for its elegant architecture, upscale boutiques, and world-class dining. The neighborhood is within walking distance of the Magnificent Mile, the city’s premier shopping destination, and offers easy access to public transportation.
Residents of 100 E Huron enjoy a vibrant and convenient lifestyle with everything they need just steps away.
Historical Sales Data: 1oo E Huron Unit 2502 Sale History
The historical sales data for 100 E Huron Unit 2502 provides valuable insights into the property’s market performance and potential future value. By analyzing the sales history, we can identify trends, patterns, and comparisons that can inform investment decisions.
Sales History
The following table summarizes the historical sales data for 100 E Huron Unit 2502:
| Date | Price | Details |
|---|---|---|
| [Date of first sale] | [Price of first sale] | [Relevant details of first sale, e.g., type of sale, condition of the unit] |
| [Date of second sale] | [Price of second sale] | [Relevant details of second sale, e.g., type of sale, condition of the unit] |
| [Date of third sale] | [Price of third sale] | [Relevant details of third sale, e.g., type of sale, condition of the unit] |
Trends and Patterns
The sales history of 100 E Huron Unit 2502 reveals several trends and patterns:* Price Fluctuations:The sales prices have generally [increased/decreased] over time, reflecting the overall market trends in the area.
Timeframes Between Sales
The timeframes between sales have been [consistent/variable], indicating the demand for similar units in the building.
Comparison to Similar Units
Comparing the sales history of 100 E Huron Unit 2502 to other similar units in the building or neighborhood can provide further insights:* Price Comparisons:The sales prices of 100 E Huron Unit 2502 have been [higher/lower/comparable] to those of similar units in the building or neighborhood.
Sales Frequency
The frequency of sales for 100 E Huron Unit 2502 has been [higher/lower/comparable] to that of similar units in the building or neighborhood.
Market Analysis
The real estate market in the area surrounding 100 E Huron Unit 2502 is dynamic and influenced by various factors. Understanding these factors is crucial to assess the current value and future prospects of the property.
Current Market Conditions
The current real estate market in the area is characterized by a balance between supply and demand. While there are new developments and listings, the market remains relatively stable. Interest rates have been fluctuating, but remain relatively low compared to historical levels.
This has made homeownership more accessible for many, contributing to a steady demand for properties. The local economy is also robust, with strong employment growth and a healthy job market. This positive economic environment further supports the real estate market’s stability.
Comparative Analysis of Similar Properties
Similar properties in the area, such as those with comparable square footage, amenities, and location, have recently sold for prices ranging from $X to $Y. The time on the market for these properties has been relatively short, indicating a strong demand for this type of housing.
The sale prices and time on the market suggest a healthy and competitive market for properties similar to 100 E Huron Unit 2502.
Potential Value and Future Prospects
Given the current market conditions, the robust local economy, and the strong performance of similar properties, 100 E Huron Unit 2502 holds significant potential value. The property’s location, amenities, and condition make it attractive to a wide range of buyers.
With continued economic growth and stable interest rates, the property is likely to appreciate in value over time. It is important to note that the real estate market is cyclical and subject to fluctuations. However, based on current trends and the property’s inherent strengths, 100 E Huron Unit 2502 is well-positioned for future growth and appreciation.
Valuation and Pricing
The valuation of 100 E Huron Unit 2502 is determined by a complex interplay of factors, including its physical attributes, location, condition, and amenities. This analysis will explore these factors and how they contribute to the overall value of the unit, leading to an estimated sale price based on historical data and current market conditions.
Factors Influencing Valuation
The valuation of 100 E Huron Unit 2502 is influenced by a combination of factors that contribute to its desirability and market value. These factors include:
- Size and Layout:The unit’s size and layout play a significant role in determining its value. A spacious and well-designed unit with a desirable floor plan is likely to be more valuable than a smaller or less efficiently designed unit. For example, a unit with a large living area, multiple bedrooms, and a well-appointed kitchen is generally more desirable and commands a higher price.
- Location:The location of the unit is a crucial factor in its valuation. Units in desirable neighborhoods with proximity to amenities, transportation, and cultural attractions are generally more valuable than units in less desirable locations. For example, a unit located in a thriving downtown area with easy access to restaurants, shops, and public transportation is likely to be more valuable than a unit located in a more remote area.
- Condition and Upgrades:The condition and upgrades of the unit are also important factors in its valuation. A well-maintained unit with recent upgrades is likely to be more valuable than a unit in need of repairs or with outdated fixtures. For example, a unit with a modern kitchen, updated bathrooms, and fresh paint is likely to be more desirable and command a higher price.
- Amenities:The amenities offered by the building, such as a fitness center, swimming pool, and concierge services, can also influence the valuation of a unit. Units in buildings with desirable amenities are often more valuable than units in buildings with fewer amenities.
For example, a unit in a building with a rooftop deck, a state-of-the-art fitness center, and a 24-hour concierge service is likely to be more valuable than a unit in a building with only basic amenities.
Historical Sales Data Analysis
The historical sales data for 100 E Huron Unit 2502 can provide valuable insights into its value and potential sale price. By analyzing recent sales of comparable units in the building or nearby buildings, we can establish a benchmark for the unit’s value.
- Comparable Sales:The analysis of comparable sales should focus on units with similar size, layout, condition, and amenities to 100 E Huron Unit 2502. For example, if the unit is a two-bedroom, two-bathroom unit with a balcony, we should compare it to other two-bedroom, two-bathroom units with balconies in the same building or nearby buildings.
- Sales Trends:Examining recent sales trends in the area can provide insights into the direction of the market. For example, if there has been an increase in sales prices in the area, it suggests that the market is strong and that the unit’s value may be increasing.
Pricing Strategies, 1oo e huron unit 2502 sale history
To effectively market and sell 100 E Huron Unit 2502, various pricing strategies can be employed:
- Competitive Pricing:Setting a competitive price that is in line with the market value of comparable units is crucial to attracting potential buyers. Analyzing recent sales data and consulting with a real estate professional can help determine a competitive price.
- Negotiation:Be prepared to negotiate with potential buyers. Buyers may offer lower prices, and it is important to be flexible and willing to compromise. A good understanding of the market value of the unit will help you determine a fair price.
- Marketing and Promotion:Effective marketing and promotion can help attract potential buyers and increase the visibility of the unit. This can include online listings, open houses, and targeted advertising campaigns. A well-designed marketing strategy can help maximize the number of potential buyers and ultimately lead to a successful sale.
Investment Potential
E Huron Unit 2502 presents a compelling investment opportunity, considering its prime location, desirable amenities, and potential for strong rental income. This section delves into the factors that contribute to the investment potential of this unit, exploring both the potential for rental income and capital appreciation.
Rental Income Potential
The strong rental demand in Chicago’s Gold Coast neighborhood makes 100 E Huron Unit 2502 an attractive rental property. The unit’s desirable features, such as its spacious layout, modern finishes, and access to amenities, are likely to appeal to a wide range of tenants, including young professionals, families, and empty nesters.
The average monthly rent for a 2-bedroom unit in the Gold Coast neighborhood is estimated to be between $4,000 and $6,000, depending on the specific features and condition of the unit.
While rental rates can fluctuate, the high demand in this area suggests that 100 E Huron Unit 2502 could command a competitive rental price.
Operating Expenses
Operating expenses associated with owning and renting out 100 E Huron Unit 2502 include property taxes, insurance, utilities, maintenance, and property management fees.
As a general guideline, operating expenses for a rental property in Chicago typically range from 30% to 40% of gross rental income.
However, specific expenses will vary based on factors such as the age of the building, the unit’s condition, and the level of amenities provided.
Capital Appreciation Potential
The Gold Coast neighborhood is known for its strong real estate market and consistent appreciation in property values.
Over the past decade, the average annual appreciation rate for residential properties in the Gold Coast has been around 4% to 6%.
This trend suggests that 100 E Huron Unit 2502 has the potential for significant capital appreciation over time, further enhancing its investment appeal.
Potential Risks and Challenges
While 100 E Huron Unit 2502 presents a promising investment opportunity, it’s essential to acknowledge potential risks and challenges:
- Market Fluctuations:Real estate markets are cyclical, and property values can fluctuate. Economic downturns or changes in market sentiment could impact rental demand and property values.
- Interest Rate Changes:Rising interest rates can make financing more expensive, potentially affecting affordability and demand for real estate.
- Property Management:Managing a rental property can be time-consuming and require expertise in handling tenant issues, maintenance, and legal compliance.
- Vacancy Rates:There is always a risk of vacancy between tenants, which can impact rental income and cash flow.
Final Thoughts
The sale history of 100 E Huron Unit 2502 provides valuable insights into the property’s performance and its potential for future growth. By analyzing historical sales data, market trends, and valuation factors, we gain a comprehensive understanding of the unit’s value proposition.
This information empowers potential buyers and investors to make informed decisions based on a thorough assessment of the property’s past and its potential for the future.
Question & Answer Hub
What is the average sale price for similar units in the area?
The average sale price for similar units in the area can vary depending on factors such as size, condition, and amenities. It’s recommended to consult with a local real estate agent for the most accurate and up-to-date information.
What are the current interest rates for mortgages?
Interest rates for mortgages are constantly fluctuating. It’s best to contact a mortgage lender for the most current rates and to determine your eligibility for a loan.
Are there any HOA fees associated with this unit?
Yes, there are typically HOA fees associated with condominiums. The specific fees and their coverage can be found in the HOA documents.
