  Apbest Member Username: Apbest Post Number: 669 Registered: 03-2006 |
http://modeldmedia.com/develop mentnews/reservelofts12708.asp x | ||
Andylinn Member Username: Andylinn Post Number: 680 Registered: 04-2006 |
adding to the rental trend... seems a good way to go. | ||
Royce Member Username: Royce Post Number: 2521 Registered: 07-2004 |
When I first heard of this development I said to myself, "Why is Belmar interested in converting the old Federal Reserve Building into residential units?" Just seems like a strange location for something residential, but it's right down the street from Campus Martius so I guess Belmar knows what they're doing. Honestly, I don't find any appeal in living in that building or that location. It's not on a busy street like Woodward and the building is a low-rise building. Oh well, some residential units downtown is better than none. (Message edited by royce on January 21, 2008) | ||
Busterwmu Member Username: Busterwmu Post Number: 418 Registered: 09-2004 |
Good news for that part of Fort. Fort really doesn't have any residential along that stretch and this will be a good boost for that area. We have a nice new street surface there, too. | ||
Tiorted Member Username: Tiorted Post Number: 114 Registered: 02-2006 |
$1200-$1500/month? seems pricey | ||
Hudkina Member Username: Hudkina Post Number: 102 Registered: 12-2004 |
$1,200 does seem very expensive for that location. I'll gladly take cheaper materials if they are willing to knock a few hundred dollars off the rent...;) | ||
Digitalvision Member Username: Digitalvision Post Number: 511 Registered: 11-2003 |
Actually I think it's a great location. Fort is semi-busy, and will only get busier with this. It's a short jaunt to Campus Martius, it's got freeway access going the other way for people to get to work if they're not downtown... It seems like a winner to me. When I was in Toronto and New York, it seemed residential was tucked in everywhere. | ||
Brandon48202 Member Username: Brandon48202 Post Number: 211 Registered: 12-2004 |
Here is a photo I took this past summer of the the door for the basement vault where they used to store the $. It was quite an amazing sight.  | ||
Higgs1634 Member Username: Higgs1634 Post Number: 288 Registered: 10-2005 |
Quite the door there Brandon. I wonder if they are leaving any of that stuff intact(of course not functional) for decorative purposes? At the risk of being flamed for bringing up parking, but... my question would be, where are the residents going to park? 84 units and only 26 spots? | ||
E_hemingway Member Username: E_hemingway Post Number: 1525 Registered: 11-2004 |
There is a huge parking structure adjacent or very close to it I think. | ||
Ramcharger Member Username: Ramcharger Post Number: 510 Registered: 05-2006 |
Good news for the building, but I still don’t understand how the Federal Reserve Bank could have moved out of downtown to the middle of a brownfield on East Warren! I thought it was more efficient to cluster financial institutions close together. | ||
Bearinabox Member Username: Bearinabox Post Number: 499 Registered: 04-2006 |
quote:Yep, right across the alley at Shelby and Lafayette. I use it whenever I have business at the AAA office. | ||
Johnlodge Member Username: Johnlodge Post Number: 4742 Registered: 10-2003 |
Damn, that is one hell of a door. Cool pic, Brandon. | ||
Neilr Member Username: Neilr Post Number: 642 Registered: 06-2005 |
West Fort Street used to be the prime residential street in Detroit before the elite began moving further out (some things never seem to change). In 1906, the Lothrop ,Alger, Russell, Stratton, Shelden, Moffat, Buhl, and Scotten families still resided in their mansions on Fort Street. None of the Fort Street houses remain standing. | ||
Livernoisyard Member Username: Livernoisyard Post Number: 4912 Registered: 10-2004 |
The sheriff also lived on West Fort back during the 1900s, when he owned much of SW Detroit, some brick yards, and the Detroit Tigers. | ||
Detroit313 Member Username: Detroit313 Post Number: 598 Registered: 02-2006 |
I would pay extra rent for a door like that in my space. Imagine the parties! <313> | ||
Bussey Member Username: Bussey Post Number: 630 Registered: 12-2003 |
I wish rent was that cheap here in Chicago! quote: hahahaha | ||
Wazootyman Member Username: Wazootyman Post Number: 306 Registered: 02-2006 |
I presume you're laughing because your rent is much higher? That's funny to you? Most modest home mortgage payments are lower than that. | ||
Danny Member Username: Danny Post Number: 7019 Registered: 02-2004 |
Rent is great housing demand the lofts, condos and single family homes. | ||
Iheartthed Member Username: Iheartthed Post Number: 2565 Registered: 04-2006 |
quote: I guess the poster is laughing at the difference of opinion on what is expensive. In other metros those type of rents are at or below average... Especially to be in the actually CBD of the metropolitan area. | ||
Downtown_remix Member Username: Downtown_remix Post Number: 587 Registered: 03-2007 |
HERE COMES THE FOOT TRAFFIC | ||
Crawford Member Username: Crawford Post Number: 190 Registered: 10-2006 |
Chicago rents are generally cheap. Not Detroit cheap but cheap. $1200--$1500 is only typical in luxury doorman towers on the Near North Side. | ||
Bussey Member Username: Bussey Post Number: 631 Registered: 12-2003 |
maybe for a studio or small one bedroom | ||
Focusonthed Member Username: Focusonthed Post Number: 1638 Registered: 02-2006 |
I have an 18th floor one bedroom in the Gold Coast in Chicago for less than 1,000. So yes, $1,200 is a lot for a 1 bedroom with no view on Fort Street. | ||
Wsugradguy Member Username: Wsugradguy Post Number: 48 Registered: 10-2003 |
Well, $1200/1-bdrm is pretty average for central Jersey (Metro New York), and I live all the way in Elizabeth, NJ. Not even in the city. "Expensive" is a very relative term. | ||
Bussey Member Username: Bussey Post Number: 632 Registered: 12-2003 |
I have too many variables in my equation. I have five animals (Two dogs and three cats) have 2000 sq feet, two parking spots in garage off alley, free laundry in basement and free heat, two bedrooms, rent 1350. I live north of Lawrence and just west of Western. Ravenswood/Albany Park This kind of place in Lincoln Park or Gold Coast would be 1800 + easy. You see my point? | ||
Pennst8 Member Username: Pennst8 Post Number: 14 Registered: 08-2006 |
From what I've found Chicago has some of the most reasonable rents of the largest cities out there, in addition to offering up many city services and a community atmosphere. What isn't reasonable is most of California. The amount of money alot of people pay out here is through the roof. When I look back on the loft I had in Detroit and how I complained about high rent there, I only wish I could have that here. | ||
Crawford Member Username: Crawford Post Number: 191 Registered: 10-2006 |
Bussey, 2,000 square feet is enormous! That's not a typical big city apartment. A typical big-city apartment is 600 or 700 square feet. And you are (indirectly) paying for two parking spaces. Chicago rent is cheap. Chicago as a whole, though is expensive. Property taxes and sales taxes are outrageous. I find Chicago to be more expensive than New York when it comes to purchasing power for daily needs, because of the ridiculous sales taxes and the high prices of quality food. Eating out can be very expensive. I have also found that Chicago places usually have $10 valet parking (with expected $5 tip!) In NYC we don't do valet, which saves money. I would use transit in Chicago to get around at night, but it seems that people prefer valet or cabs, which makes going out much pricier. | ||
Iheartthed Member Username: Iheartthed Post Number: 2595 Registered: 04-2006 |
quote: Is the Gold Coast an expensive area? That can't be the typical rent in Chicago. I met a woman yesterday who just moved to NYC from London. She said that one of the things she liked the most about NYC is how cheap it is compared to London. Go figure? She's originally from Ann Arbor, btw. | ||
Crawford Member Username: Crawford Post Number: 192 Registered: 10-2006 |
^ I don't think your friend is talking about rents. She's talking about daily living expenses. NYC (and all of the U.S. for that matter) is cheap compared to London, but not rents. Rents in NYC and London are about the same. Everything else is much cheaper (at least for Americans) owing largely to the strong pound and weak dollar. Transit is maybe 4x more expensive, eating out and groceries are maybe 2x more expensive, etc. And Chitown is definitely cheap for rents. I have a friend who lives 70 floors up in the John Hancock Tower (right on prime Michigan Ave.) and he pays around 1,100 a month. | ||
Iheartthed Member Username: Iheartthed Post Number: 2599 Registered: 04-2006 |
quote: Maybe, but I was under the impression she was talking about rent. London is currently the 2nd most expensive city in the world behind Tokyo, right? | ||
Focusonthed Member Username: Focusonthed Post Number: 1639 Registered: 02-2006 |
Bussey, I could probably throw a rock and hit your place from where I currently live for the next month. Western and Wilson. (Message edited by focusonthed on January 25, 2008) | ||
Downtown_remix Member Username: Downtown_remix Post Number: 589 Registered: 03-2007 |
Merchant row runs about the same as this. Even Trolley plaza has a $1500 penthouse apt | ||
Focusonthed Member Username: Focusonthed Post Number: 1640 Registered: 02-2006 |
quote: Yeah, it's one of the nicer areas, but I found a steal. It's small though, probably around 500-600 square feet. I currently have a 2 bedroom, probably around 900-1000 square feet, near where Bussey lives for $975. | ||
Bussey Member Username: Bussey Post Number: 633 Registered: 12-2003 |
If you had a strong arm you could come close. I'm just across the river, near California and Kedzie. With your place is heat, laundry and parking included? 975 isnt that bad but again our place is rather large for just a two bedroom. We have a 'third' bedroom, no closet and it is only accessable through one of the two main bedrooms. We keep our dog's kennels in their, quite handy. The dining room is big enough to fit our dining room table and a pool table as well. The extra space is great for the wild kingdom we have. When we first started looking Chicago Apt Finders and Apartment People only had dumps for 1200 and up. We found our place on Craigslist and since it allowed for our animals, had parking and also was so big we decided to go with the pricer place. Do you ever go to the great German Bars on Lincoln? | ||
Lefty2 Member Username: Lefty2 Post Number: 985 Registered: 07-2007 |
I thought that building would make a good conversion. They should get a few attorney's etc. who want to live near court federal etc. Does anyone know the demand for rentals in Detroit know. I know the previous study last year, but was wondering what it is like now. | ||
E_hemingway Member Username: E_hemingway Post Number: 1533 Registered: 11-2004 |
Rental demand is significant. People aren't falling over each other to get an apartment in the downtown area, but the ones that do exist are usually snapped up pretty quickly by students, yuppies or empty nesters. However, this is just my observation. I don't know of any recent study showing the demand for rental units in the downtown area. The occupancy rates of apartment buildings is probably the best indicator of this. Last I heard, quality projects like the Kales Building, Lofts@Woodward, Lofts at Merchants Row, etc. were close to full up. | ||
Busterwmu Member Username: Busterwmu Post Number: 420 Registered: 09-2004 |
Continuing to keep this on subject, I think this could be a pretty good location for apartments. It would be really cool if they did retain some of the old Federal Reserve features of the building while modernizing the areas for rooms, etc. Nice they intend to keep the historic facade, too. Residential has to start somewhere. Other smaller residential projects may begin to pop up on or near this part of Fort once this gets going. It's just a quick walk away from a morning coffee at Starbucks in the Penobscot, and the other nearby retail and service places in downtown skyscrapers. | ||
Downtown_remix Member Username: Downtown_remix Post Number: 590 Registered: 03-2007 |
rental units will fly rather quickly. The Book Cadillac, and the fort shelby will be opening (for shelby with 73 market rate apartments, ON FORT) will be open just a couple blocks away. If you cant live in the Book OR PICK, live close to THEM. | ||
Bussey Member Username: Bussey Post Number: 634 Registered: 12-2003 |
To the idea that 1200-1500 is expensive, even in Chicago, look at this http://www.chicagotribune.com/ classified/realestate/apartmen ts/chi-apt_re_01-20jan20,0,396 0025.story These aren't even in downtown Chicago yet they are very comparable. Luxury, new, updated, with one parking space and three bedrooms. $3,000 | ||
Philbert Member Username: Philbert Post Number: 328 Registered: 10-2003 |
crawford said: "Chicago rent is cheap. Chicago as a whole, though is expensive. Property taxes and sales taxes are outrageous. I find Chicago to be more expensive than New York when it comes to purchasing power for daily needs, because of the ridiculous sales taxes and the high prices of quality food. Eating out can be very expensive. I have also found that Chicago places usually have $10 valet parking (with expected $5 tip!) In NYC we don't do valet, which saves money. I would use transit in Chicago to get around at night, but it seems that people prefer valet or cabs, which makes going out much pricier." Sales taxes in NYC are 8.375% Sales taxes in Chicago are 9.00% so if you spend 2000 dollars a month the difference is $13.70 a month more in Chicago NY State income tax rate Low - 4.0%; High - 6.85% Illinois 3% flat tax there is also an extra income tax for NYC in addition to the state. None for Chicago. here is a good ranking for tax rate comparison between us cities. http://money.cnn.com/pf/featur es/lists/taxesbycity2005/index .html#table property taxes are based loosely on value. so while it appears chicago has a lower tax rate than NYC that even if it were higher in Chicago less money would be devoted annually because real estate is cheap in Chicago. Going out to eat, shop, drink is cheap here in comparison to NYC. I live in chicago and don't own a car. So i never use valet and neither do my friends because most don't own a car and if the ones that do they don't use valet parking. Suburbanites coming into the city will be much more likely to though. I Cab it sometimes, but splitting a cab is cheap. I mostly use the CTA. no matter how you cut it Chicago is dirt cheap in comparison. Bussey, that is an extreme example and quite the luxury place. | ||
Crawford Member Username: Crawford Post Number: 194 Registered: 10-2006 |
Philbert, I wasn't talking about income tax rates, I was talking about daily expenses. Having spent tons of time in both cities, I find that, contrary to stereotypes, daily expenses are higher in Chicago. You mention sales taxes. It's true that Chicago's sales tax is only slightly higher, but the difference is that Chicago sales tax is applied to everything, while in NYC there is no sales tax on clothes and there are a whole host of other exceptions. In many suburban counties there are no sales taxes on all sorts of items, from furniture to electronics. Also, Chicago sales taxes are about to increase further. Going out to eat/drink in Chicago seems to cost the exact same as in NYC, except most people in Chicago drive or cab to restaurants, while in NYC people walk or take transit. This makes Chicago a more expensive night out for most. Yes, it's true that one can live without a car in Chicago, but it isn't the same as in NYC, where a majority of citywide households don't own a car, and the city is primarily set up for people who are car-free. Since most Chicagoans own cars and most New Yorkers do not, IMO it's fair to factor in additional costs for Chicagoans. I'm not going to go car-free if friends all have vehicles and it is basically expected for people who have the financial means. Chicago does not have a lower property tax rate than NYC. My sister owns property on West Ontario and I own property in Brooklyn and she pays slightly more I do for similarly priced properties, and her taxes are going up while mine are going down. If I were to move to Chicago, I think I would overall have higher expenses. My income taxes would be lower, but that's about it. I don't think my rent would be much cheaper, because people in Chicago generally have larger apartments (more entertaining at homes and more nesting) so I would probably end up getting something bigger than what I'm accustomed to in NYC. I would also get a vehicle, as I am accustomed to having everything delivered to my doorstep, and that's impossible in Chicago. There's no Freshdirect that's going to send me a midnight delivery of groceries. | ||
Philbert Member Username: Philbert Post Number: 329 Registered: 10-2003 |
well thats the first time in my life I have debated with someone or heard the claim that living in Chicago is more expensive than NYC btw, according to that cnn link property taxes are a higher rate than chicago and also property is much much more expensive in NYC hence the term property tax rates. most people do not drive to the bars contrary to what you are saying most people go to local bars around the corner and that includes restaurants. who drives downtown to go out to eat? public transit or share a cab it is. you said you sister lives on Ontario st. in downtown. Were you hanging out in the Rush Street area? That is expensive its all suburbanites or tourists, hardly a city resident to be seen unless they are employed there. car free is easy here though obviously not as easy as ny but its extremely doable Just looked up the stats, just over 1/2 of NYC persons do not own a car while around 1/3 of Chicagoans don't own a car. How is parking costs in NYC in comparison? (Message edited by Philbert on January 27, 2008) (Message edited by Philbert on January 27, 2008) | ||
Newlaster Member Username: Newlaster Post Number: 227 Registered: 06-2004 |
Well, Living in Chicago, it's easy to feel choked with taxes. There's even a higher sales tax in downtown vs. the rest of the city. It seems like the second any government entity comes up short of cash here, the first thing they do is raise taxes. It never stops. But rent deals can be had. I live in a very nice north side neighborhood with roommates and my share of the rent is $400. It's pretty easy to get around via transit, but I have gotten pretty attached to my car during the winter (Detroit influence perhaps)? Crawford makes a point in the sense that daily staples like milk and gas are priced among the highest in the country here. It does cost slightly more to live here than Detroit, for sure. But really, any way you roll the dice, living in New York is much, much more expensive than Chicago. | ||
Crawford Member Username: Crawford Post Number: 195 Registered: 10-2006 |
I understand that the stereotype is that Chicago is cheap and NYC is expensive, but for people who have lived in both, I find that most agree with my assessment on the "nickel and dime" aspect of living in Chicago, where everything has a hidden tax, while in NYC things tend to be included in the price. My boss, a Chicago Latin (a prep school) and U of Chicago grad agrees with this sentiment. More examples: Retail in NYC seems so much cheaper. I laugh when people ask how can I get cheap prices without a WalMart in NYC. My Brooklyn neighborhood is full of independents that have better than WalMart prices, you just have to know where to look. For whatever reason, NYC neighborhoods, from posh to poor, all seem to have tons of cheapo variety and discount stores, while in Chicago there seems to be very little of this shopping. In Chicago, neighborhoods tend to be either super-yuppie (Lincoln Park, Wicker Park, etc. etc.), with mostly expensive chain stores or ghetto (much of South and West sides) with not much of anything retail-wise, while in NYC there is basically a variety of cheap retail almost everywhere. The one NYC-style neighborhood I saw with tons of cheap shopping but within the context of a decent neighborhood was in Albany Park (I think that's the name, whatever the neighborhood is towards the end of the Brown Line). That area feels like the outer parts of Brooklyn and Queens and might afford a similar lifestyle. Also, these types of stores in NYC NEVER charge sales tax. It's included in the price. Same thing with restaurants. A NYC pizzeria or Mexican takeout also NEVER adds sales tax. It is always included in the price. A $2 slice of pizza will cost you exactly $2. Sales tax is only added separately in fast food chains or nice, sit-down restaurants. Non-fancy independents never charge beyond listed menu prices. In Chicago, you are ALWAYS charged sales tax on food items. Buying water in NYC is ALWAYS $1. Whether you're in Manhattan or the Outer Boroughs, whether in a fancy grocery or a dumpy bodega, there will always be $1 bottles. In Chicago, it is ALWAYS $1.50 and I heard there is some new water tax that will raise it even higher. Alcohol and cigarette taxes are a little higher in Chicago. Also, the income tax difference is exaggerated. Chicago has no income tax, meaning the poor are basically paying more of their share of taxes than the rich through user fees. In NYC, your income taxes are only relatively high if you are rich, which IMO is only fair. If you are middle class or poor, you do not pay high income taxes. Chicago's a fantastic town, but there's no way it's cheap. But bringing this back to Detroit, I think Detroit is MUCH cheaper than either city, whether we're talking daily or overall expenses. Sorry for the off-topic discussion. This is Detroit Yes, not Chicago Yes or NYC Yes! | ||
Philbert Member Username: Philbert Post Number: 330 Registered: 10-2003 |
the income tax difference is exaggerated? There is no city income tax in chicago and Illinois' income tax is lower than NY State's. That amounts to quite a bit of money. Ill repost that tax ranking comparison of cities: http://money.cnn.com/pf/featur es/lists/taxesbycity2005/index .html#table NYC and Newark are the highest taxed major cities in the country. how much is the average condo in NYC? 800,000 or 900,000 dollars? Seriously tell me with a straight face it is cheaper to live in NYC. Property taxes are loosely based on value and NYC has a higher property tax rate as it is and property values tend to be doule or triple Chicago's. Rent is most certainly cheaper in Chicago by a long shot. Whats the mortgage payment on an 800,000 condo? That will buy you an ocean of bottled water and enough pizza for 5 life times each month. | ||
Focusonthed Member Username: Focusonthed Post Number: 1642 Registered: 02-2006 |
Crawford, Chicago is cheaper than New York. Period. It's empirically proven. Your anecdotal evidence (some of which is either patently incorrect or slightly misconstrued) is irrelevant. Hanging around the area between Lincoln Park and River North does not give you a picture of Chicago. In fact, your assertion that there is no Chicago between "yuppie areas" and "ghetto" just proves that you have taken no time to explore the rest of the city. What you've done, talking about the lack of affordable retail, is like me wandering SoHo and being like "why can't I find a pair of socks?" Well, because you're in SoHo. And you compare outer Brooklyn and Queens to the lakeshore neighborhoods in Chicago? What? They're nothing alike. (Message edited by focusonthed on January 27, 2008) | ||
Crawford Member Username: Crawford Post Number: 196 Registered: 10-2006 |
Philbert, I'm sorry, but you seem to have an inaccurate picture of NYC geography and real estate. Your condo price median is for Manhattan, which is just a small part of NYC. There are the equivalent of well over two more urban versions of Chicago living outside of Manhattan and within NYC limits. Unless you work for a hedge fund, the vast majority of people who move to NYC in 2008 do not move to Manhattan. Brooklyn and Queens are more fun for young people. It's irrelevent anyways, because far more NYC residents live in coops than condos, and coops are cheaper. Basically if I were to make your comparison, I would compare Astor Street in Chicago with some obscure neighborhood on Staten Island and say, Aha! Chicago real estate is more expensive! Your "mortgage is cheaper so buy more water" argument is irrelevent to many or most. Most New Yorkers (about 2-to-1) do not own, and about half of Chicagoans do not own, so for 65-70% of New Yorkers and 50% of Chicagoans, those daily expenses mean that Chicago is potentially pricier. IMO, apples to apples, real estate in NYC is somewhat more expensive, but not by much if you exclude Manhattan and see what you get for your money. | ||
Philbert Member Username: Philbert Post Number: 331 Registered: 10-2003 |
that was for NYC as a whole not just Manhattan. ----Coop and condo---- prices for NYC were in June of 2007 $831,000 Crains Business NY http://www.crainsnewyork.com/a pps/pbcs.dll/article?AID=/2007 0723/FREE/70723004/1059 | ||
Crawford Member Username: Crawford Post Number: 197 Registered: 10-2006 |
Philbert, as for the income taxes, again I disagree. If you look at the chart, they are counting vehicle taxes, yet most NYC residents don't own vehicles, and property taxes, yet most NYC residents don't own cars. The only difference is in income taxes, though the chart is misleading because they are counting income taxes only on an individual making $75,000, which is higher than the majority of single filers in either city. If you make a low or moderate income in NYC, you pay almost nothing. Also, the income tax difference is only in city limits. Suburban jurisdictions of NYC actually have lower overall income taxes than in Chicago, as evidenced by Newark on the chart. | ||
Crawford Member Username: Crawford Post Number: 198 Registered: 10-2006 |
Well than Crains is completely wrong. I work in real estate and guarantee that price is nonsense. Median NYC condo and coop prices are nowhere near $831,000. Maybe $400,000 at the most, though even that sounds kinda high. In my (quite nice) Brooklyn neighborhood, you can get a decent 2 bedroom coop for $300,000-$350,000. | ||
Crawford Member Username: Crawford Post Number: 199 Registered: 10-2006 |
Focus, what do you mean by objecting to me comparing lakeshore Chicago to the Outer Boroughs? Manhattan is completely irrelevent to any neighborhood in Chicago, and Brooklyn, Queens and the Bronx are generally as dense and "urban" as the very densest Chicago lakefront neighborhoods, so it seems like a fair comparison. I live in outer Brooklyn and my sis lives in River North, yet my neighborhood is more walkable, transit oriented and street-level service oriented. And I know Chicago extremely well. Attended Northwestern and visit many times a year. I know basically every neighborhood, though I don't know all the attached names. I have been through Garfield Park, Rogers Park, Pullman and all the obscure neighborhoods of the city, and IMO, Chicago has more of a stark yuppie/ghetto vibe (true, there are exceptions, like Ukranian Village, Albany Park and Jefferson Park), while in NYC, there is more of a mixing in all neighborhoods. This means that almost all of NYC can be considered for the prospective newcomer (a colleague of mine just bought a coop on the Grand Concourse in the South Bronx), while in Chicago, you have a much more limited list of acceptable neighborhoods for newcomers. | ||
Philbert Member Username: Philbert Post Number: 332 Registered: 10-2003 |
Are you for real, you are claiming that taxes are higher in Chicago because of vehicle taxes between the two cities. 1/3 of Chicagoans don't own a car anyway and NYC is just over 50% not that mind boggling of a difference and the car tax only accounted for around 300 dollars in NYC's favor not the thousands more in other taxes that are in Chicago's favor. You are selectively looking at stats from that CNN link. And of course the Crains NY business article is wrong  Real Estate is clearly so much cheaper in Chicago that to argue differently is mind boggling. | ||
Lefty2 Member Username: Lefty2 Post Number: 1009 Registered: 07-2007 |
Property Description: High Rise Detroit Branch Federal Reserve Building. Originally built in 1926, addition completed in 1950. New roof completed in 1989. Many capital improvements have taken place with the last ten years Located in the Central Business District in Downtown Detroit. This historic building is Priced below $34 per foot. Location Description: Located at the Northeast corner of Fort and Shelby, 160 West Fort Street. No. Stories: 10 Lobby Entrance renovated in 2000 •Lighting upgrade completed in 1998 •Dat Cable upgrade in 2000• Hydronic and Steam perimeter heating •4 passenger and 2 freight elevators •Security System upgrade in 2001 Building Size: 176,834 SF Building Class:B Price/SF:$33.93 Year Built: 1926 Price: $6,000,000 (used to be at @ $4,000,000.) Price per sf was probably a good deal |
