Well on the heels of the article on Monday regarding the exorbitant parking rates in the city of Chicago, I have clients not interested in buying the space with the unit. I don't quite know what to say to them. I live in Wrigleyville, where this proposed purchase is and I must say that parking is rough, especially on game day, even worse on street cleaning plus game day.
In their defense, the parking is really expensive, but I've listed some expensive parking spaces in the past. My advice was to buy it for rental purposes or to make it more attractive to sell. As a mortgage banker friend of mine points out - just because your mortgage is for 30 years, doesn't mean you'll live in it for 30 year.
It's also ironic for me as I have two other clients that we're trying to find places with parking. I'm still trying to figure out how to get one of my clients to rent from the other.
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