I see the Trump from my place too; it's dead. Only one room is lit up at the top floor right now...Trump = Rip off
Hereâs the stats on the building (out of 758 units): as of 12/08 116 units for sale 28 units for rent Some units can be both for sale AND for rent.
Asking $1,000 per foot, a 585 square foot studio for $580,000; these couldn't possibly be overpriced. Don't forget to add in condo fees, taxes and parking, ouch! http://www.bestchicagocondos.com/pre-construction-condos/trump-tower.html
P.S. Regarding Illinois. My wife just got a letter stating the fund providing compensation for parents who drive their kids to school is out of money. (Yes, there shouldn't be such a program in the first place). State budgets also in decline.
Normally, you're right, but not in this case. Greed took over for this guy and he took almost all of these loans by himself. He is in major trouble here. Most of the units he pre-sold are on the market now, at lower prices than his lender will allow him to offer his remaining inventory. He couldn't get bonded to build again in this city if he wanted to. He has so many outstanding leins-really a bad situation coming...
From what I understand, Trump Towers in Chi town is for the upper class. Those who can drop 1 million and not really worry about it. With all this doom and gloom, people forget...there are plenty of individuals out there with wealth, that do not see Recessions, Depressions financially. Sure, their net worth may drop a few % but 1 Million on a condo in Chicago will not change their lunch plans. The average Joe can't and shouldn't try to buy a unit in the towers. only 116 for sale out of 700 plus? Do the math, that is better occupency than most Major Commercial Strip Malls now. The % isn't bad when you compare apples to apples and the current economy. IL and Chicago are going broke and yet over 50% of the Trump Towers has been sold.
I live in Chicago as well. I never liked the idea of Mr. trump. If you want to live in a nice area, people should buy on East Walton(Goldcoast). I've lived here for quite some time. 232 building is a great building and more character than what he is selling.
Price barriers will eliminating unwanted people from different social class. think about it. It is form of discrimination, anyway, you can't stop people building up gated communities, golf/tennis court,so is his tower.