“I'm looking for a studio in the range of about $1200 a month, preferably downtown.”

You're trying to find an apartment in a new city that you're going to move to. You want to use a real estate agent to help you find it. You find the e-mail address of a real estate agent on the Internet and begin writing an e-mail to her. You write:

I'm looking for a studio under $1200 a month, preferably downtown.

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“I'll keep an eye out for it.”

You're a receptionist in an office. An employee at the company is waiting for a package and asked if it had been delivered yet. It hasn't, but you want to let her know that you'll bring it to her when it comes. You say:

I'll keep an eye out for it.

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