Downtown Chicago Luxury High Rise Investment Property Rare East Facing 1 Bedroom Condo in Heart of Downtown Start Price USD 0.99 Current Price USD 255,100.00 Time Left - Bid Count 70 Buy It Now Price - Reserve Price - Start Time Monday, November 03, 2008 End Time Wednesday, December 03, 2008 Location Chicago, IL See more about 'Downtown Chicago Luxury High Rise Investment Property' Description ***MUST BECOME A VALID BIDDER BEFORE BIDDING - SEE TERMS & CONDITIONS***ABOUT THIS HOMEOntario Place Private Residences Unit 2612 – 10 E. Ontario, Chicago, IL 60611This lovely 1 Bedroom Convertible High Rise Condo is located in Downtown Chicago at 10 E. Ontario in the River North neighborhood.  A great investment whether living in it yourself or renting it out.  This is a rare 1 Bedroom Floorplan on a high floor facing East, capturing some of Chicago’s best views.  With a full-amenity building located in one of Chicago’s most ideal locations, you can’t get a better bang for your buck!  This is city living at its finest - you have every possible amenity at your disposal when a member of Ontario Place Private Condominiums.  Tons of outdoor space, HUGE balconys, pool, spa, top-notch exercise facilities - combine all of these amenities with one on Chicago's most ideal locations and you'll understand why this is an AMAZING Opportunity!Some Features:•    1 Bed/1Bath Condo•    High 26th Floor w/ Stunning EAST Views of Chicago•    Approximately 765 Square Feet•    OVERSIZED Private Balcony (150 Square Feet – not included in interior square footage)•    Floor-to-Ceiling Windows•    Modern Kitchen Features Include Updated White Cabinetry, Newer White Appliances w/ Electric Range, Stainless Steel Double Bowl Sink & Ceramic Tile Floors•    Plush Wall-to-Wall Carpeting•    Bathroom Features Large White Cabinetry Vanity, Ceramic Bowl Sink, Medicine Cabinet, Ceramic Tiling & Large Tub with Shower•    1 Heated Garage Parking Space•    24-Hour Doorstaff•    Controlled Key Access•    Rooftop Pool & Sun Deck•    Rooftop Garden and Grilling Deck•    Spacious Community and Meeting Room•    Fully Equipped Computer Lab•    Huge, Fully Equipped Exercise & Weight Rooms•    On-Site Laundry & Dry Cleaning•    Total of 51 Floor & 462 Condos – 12 Condos per Floor**Floor Plan for Unit #2612**Property Facts:•    Taxes for the year of 2006: $4,067•    Homeowner’s Association Dues (HOA): $351 per month•    Currently Rented at $1,450 per Month – Renter can transfer with sale OR the lease can be terminated at saleOverall, this property is an amazing investment with the combination of its ideal location, amazing building amenities and its ability to rent easily.  The uniqueness of the building and the stunning views are the icing on top of the cake.  **CLICK HERE FOR VIRTUAL TOUR & TONS OF PICTURES**COMPARABLE PROPERTIES THAT HAVE CLOSED IN THE PAST MONTHComparable Property #1:2 E. Erie #3201 - CLOSED on 10/09/08 for $311,000 Property Information Sheet Picture of Living Room Picture of Kitchen Picture of Bathroom Picture of Bedroom Picture of ViewComparable Property #2:30 E. Huron #1702 - CLOSED on 10/13/08 for $340,000 Property Information Sheet Picture of Living Room Picture of Kitchen Picture of Bedroom Picture of Den Picture of Bathroom Picture of the View Picture of the ViewComparable Property #3:440 N. Wabash #4202 - CLOSED on 10/22/08 for $435,000 Property Information Sheet Picture of Living Room Picture of Kitchen Picture of Bedroom Picture of Bathroom Picture of Indoor Pool Picture of Rooftop DeckPROPERTY DISCLOSURE FORMSResidential Real Property Disclosure Report - Page 1, 2, 3 and 4Radon DisclosureTERMS & CONDITIONSDisclosures:  The eBay seller of this property, reinvestor22 (hereinafter referred to as “eBay Seller”), is not the legal owner of this property.  Thus, any bid will be subject to the approval of the legal owner (hereinafter referred to as “Seller”).  If Seller does not accept the high bid amount, then no purchase contract will be entered into, and high bidder will have no legal recourse.  eBay Seller is a licensed real estate salesperson in the State of Illinois by the name of Lauren Shimmon, whose license is held by Rizzo Realty Group.  If you become he high bidder of this listing, you consent to becoming a client of Lauren Shimmon, who will then submit your offer in writing to the Seller.  This property is being marketed through methods other than eBay, possibly including methods available only to Realtors, such as the MLS.  eBay Seller reserves the right to cancel this listing if a suitable buyer is found through other channels.Becoming a Valid Bidder:  You must contact eBay Seller PRIOR to bidding in order for your bid to be considered valid.  To do this, you must e-mail LShimmon@RizzoRealtyGroup.com with the following contact information; Full Name, Address, E-mail Address and Phone Number.  eBay Seller will immediately send you a confirmation that you are now a “Valid Bidder”.  If you bid without doing this, your bid will be cancelled prior to the end of the auction.Signing the Contract:  Within minutes of the end of the eBay listing, eBay Seller will contact you – if you’re the high bidder – via telephone and let you know whether Seller has accepted your bid amount or not.  If they have accepted your bid, you will be asked to fax a signed a Chicago Association of Realtors Condominium Real Estate Purchase And Sale Contract (hereinafter referred to as “Purchase Agreement”), using the contract form provided on the listing.  eBay Seller will obtain Seller’s signature on the Purchase Agreement and fax it back to you within an hour.  You must then immediately make an initial earnest money deposit.  Please see below for more information regarding earnest money.  Once you have done these two things – sign the Purchase Agreement and deposit earnest money – you have now entered into a legally binding agreement with the Seller.  The eBay bid itself is not legally binding; but the Purchase Agreement is.Backup Offer:  At the end of the eBay listing, if more than one bidder has bid an amount acceptable to the Seller, BACKUP offers will be accepted from these bidders, at the price the bid.  These bidders have no obligation to send any payment at this time, nor are they legally obligated in any way; but they do have to make an offer by signing the Purchase Agreement and faxing it back to be considered backup bidders.  In the event the high bidder fails to perform, a “second chance offer” will be offered to the next highest bidder, at the price they bid.  If the Seller should accept the offer by signing the Purchase Agreement, then a legally binding contract has been formed.Finalizing the Contract:  Within 5 calendar days of the end of the eBay listing, you must provide 2 signed originals of the Purchase Agreement, together with the balance of 5% of the purchase price as final earnest money.  Please see below for more information about earnest money.  Upon receiving the two originals, together with the final earnest money, Seller will counter-sign one and mail it back to you for your records.  If 2 signed originals of the Purchase Agreement and the final earnest money are not received within 5 calendar days of the end of the eBay listing, your bid will be considered null and void and Seller will move on to the next highest bidder.Contingencies:  Buyer will have attorney review and inspection review of 5 business days.  Buyer will have a mortgage contingency of 20 days.  These time frames are not negotiable.Initial Earnest Money Deposit:  Winning bidder will be required to make a $1,000 earnest money deposit via personal check within 24 hours of the end of the eBay listing and Seller acceptance of winning bid.  This payment should be overnighted directly to Rizzo Realty Group at 1 E. Superior, Suite 604, Chicago, IL 60611 attention to Lauren Shimmon.  This payment will go directly into an interest-bearing escrow account held by Rizzo Realty Group and will be applied toward the purchase price at closing.Final Earnest Money Deposit:  The second earnest money deposit, due within 5 calendar days of the end of the eBay listing, must be in the form of a personal check.  This earnest money deposit will also be held in an interest-bearing escrow account, held by Rizzo Realty Group and will be applied toward the purchase price at closing.  If the high bidder fails to make either earnest money deposit on time, then his or her bid will be considered null and void.  Seller will have the right to retain Buyer’s initial earnest money deposit as damages, and Seller will move on to the next highest bidder.  If this happens, then eBay Seller will also leave negative feedback for the winning bidder.Payment/Financing:  Buyer may finance this property through any lender of their choice.  In the event that Buyer is unable to secure financing, then Seller shall have the option of providing financing for them, under the terms outlined in the Purchase Agreement.  If Seller chooses not to exercise this option, then Seller shall have the right to retain Buyer’s earnest money deposits as damages and the contract with Buyer will be considered null and void and Seller will move on to the next highest bidder.Terms of Closing:  Possession will be transferred at closing.  Closing must take place within 45 calendar days of the end of the eBay listing.  If closing does not take place on or before this date, other than due to Seller non-performance, then Buyer will be considered to be in default, the contract will be null and void and Seller will have the right to retain all earnest money as damages.Final Disclosure:  eBay Seller IS NOT the owner of the subject property.  Therefore, any bid will be subject to the approval of the owner, who is the legal Seller.  If Seller does not approve the high bid amount, then no purchase contract will be entered into. Place a Bid!