Condo Sales

[Michael Xiong]

I bought a condo at 200 N Dearborn in 2010 at price of around $250K, my cap rate is only around 3%, I hoped the condo value would go up over years, unfortunately, it actually went down. If I sell today, I might need to discount. Any comment about the condominium market in Chicago loop area? I am evaluating whether to sell it at loss and invest the money for something better or keep it. 

[Mark Doyle]

@Account Closed A little harsh.  "Capitalization rate (or "cap rate") is the ratio between the net operating income produced by an asset and its capital cost (the original price paid to buy the asset) or alternatively its current market value." He wasn't referring to a "cap rate" for condos in a general area. He said "my cap rate is only around 3%". I'm assuming he meant his NOI divided by the purchase price (or market value) is around 3%. That would be his "cap rate". Sounds to me like @Michael Xiong  is educated on the term just fine.