Chicago Illinois Real Estate Blog

Apparently you can make money in Chicago’s slow real estate market. A feel good real estate story from Chicago Real Estate Daily:

Donald Trump has struggled to sell condominiums in his downtown high-rise, but at least one investor who bought a unit in the 92-story building has made out well: Chicago Sun-Times Editor-in-Chief Michael Cooke.

Mr. Cooke and his wife, Barbara, turned a quick profit as the first buyers to flip a residential condo in the tower, a feat dozens of other investors hope to pull off as Mr. Trump completes the upper, residential floors of the downtown skyscraper.

The Cookes bought their unit for $543,000 on Sept. 18 and sold it to another buyer for $790,000 on Oct. 10 , according to deeds filed with the Cook County Recorder. The Cookes financed their purchase with a $417,000 loan , presumably putting up $126,000 themselves and nearly doubling their money in less than a month.

This is a great story to hear these day. I know most don’t have 130 grand to put up for a down payment, but most Chicago real estate investment stories havn’t ended so well in a while. Congrats Michael!
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