Posted by: union03g | December 5, 2009

Rent or Own: Rediculous Unit At Trump Tower

This listing represents the very high end of the market in Chicago. You can rent this 3 bed/3.5 bath on the 79th floor of the Trump for $15,000/month. You may think that’s high rent but when you compare it to the ~2.9 million price tag and take into account the assessments that you don’t have to pay when renting, then 15k/month is actually not too bad.

The cap rate is about 5.5%, below average due to the difficulty they are having in finding a wealthy renter. Imagine living with these views. Incredible.

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