Author Archives | Stacy Braack

About Stacy Braack

Stacy is a seasoned real estate professional with a broad range of hands-on experience including first time buyers, investors, luxury homes, and distressed properties. While this may appear to be a scattered set of expertise, she believes the experience provides maximum effectiveness in today's chaotic market, which requires extensive knowledge of all aspects of the industry. Stacy's educational background includes a BS in Industrial Engineering from Stanford University and an MBA in Marketing and Finance from the Kellogg Graduate School of Management. Professionally, Stacy has done everything from operations consulting to city government before she found her passion in real estate almost eleven years ago. It is this passion that drives the most benefit to her buyers and sellers. She is fully committed to your goals - both financial and personal. Her clients describe her as extremely direct, honest, and responsive, and they repeatedly trust her to handle one of the biggest events in their lives. For buyers she works non-stop to find you both a home you will love to live in and one that is a smart investment. Many of her 2008 buyers have realized instant equity in their new homes through 'pit bull' negotiation skills. While the market has been tough for sellers, her listings have sold at a rate above that of the market. Extensive, constant, and extremely high-quality marketing, including both print and internet mediums, support every listing, from investment studios to luxury penthouses. She believes that your goals are her priority and her full-time job. She has built her business on referrals from satisfied clients, and she would love to add you to that list. You can contact her at 773-405-4431 or stacy.braack@sothebysrealty.com

Historical Building Still in Renovation Limbo

Written by: - January 14, 2010

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14 January 2010 ? The Jazz Age building, located at 188 W. Randolph has been hidden behind nets and scaffolding for so long now that many have forgotten the beauty of its elaborate facade. Village Green, an apartment developer, purchased the property out of bankruptcy in 2005 for $10 million and have since made some […]

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Like Chicago Spire, World Trade Center Seeking Out New Business Partners

Written by: - January 8, 2010

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8 January 2010 ? While not located in one of Chicago’s 77 neighborhoods, 1 World Trade Center (formerly known as Freedom Tower), the new tower under construction at Ground Zero in New York City, holds a symbolic place in all of our hearts. Despite its symbolism, the building is not immune from the troubled real […]

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Hotel Burnham Nearing Foreclosure – Restructuring Discussions Begin

Written by: - December 10, 2009

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10 December 2009 ? The Hotel Burnham, located at 1 W. Washington in the Loop, is facing a foreclosure suit by Bank of America. Developers Dan McCaffery and E. Barry Mansur, who converted the office building to a hotel in the late 1990’s, were included in the suit. The owners stated that they deliberately stopped […]

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Chicago Spire Developer Approaches Union Leaders With Creative Offer

Written by: - December 3, 2009

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3 December 2009 ? Chicago Spire owner Garret Kelleher is thinking outside the box in order to save the troubled project. Originally designed to house 1200 planned residences in the 140-story structure, the Spire remains just a hole in the ground at 400 N. Lake Shore Drive. Kelleher recently approached local unions with a unique […]

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Ravenswood Bank Sued Over Sussex & Reilly Acquisition

Written by: - November 19, 2009

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19 November 2009 ? Sussex & Reilly’s former owners, Glenn Tomlinson, Elizabeth Scheffler, and Donald Battaglia have filed a lawsuit against Ravenswood Bank. The bank engineered the sale of the brokerage to competitor Sudler Sotheby’s in February. The suit alleges that the bank improperly declared S&R’s loans in default in order to force the sale […]

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Neighborhood Anxiety: Foreclosures, Short Sales, and Your Property Value

Written by: - November 17, 2009

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Neighborhood Anxiety: Foreclosures, Short Sales, and Your Property Value

Many homeowners have very valid concerns about the impact of a neighbor who has a comparable unit but is selling their property at a rock bottom price. When a neighbor sells at a very low price because of a new baby, job transfer, or other situation, the impact on the immediate market value of comparable units can be significant, but not necessarily devastating.

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Bank of America Accused of Overcharging on Interest

Written by: - November 12, 2009

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12 November 2009 ? Bank of America seems to have its hands on many troubled Chicago real estate developments, including Block 37 and the Chicago Spire. Most recently, the developer of the Spire, Shelbourne Development Group, has accused the bank of using a faulty method for calculating interest on their loans. It is fairly standard […]

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Block 37 Fights Back

Written by: - November 5, 2009

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5 November 2009 ? An embattled development, located in the heart of the loop, recently announced multiple new retail tenants. Scheduled to open by Thanksgiving, the retail portion of Block 37 experienced some trouble as its proposed anchor tenants Movico and David Barton’s Gym pulled out of their agreements. However, Block 37 may be able […]

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The Failed Olympics Bid – Neighborhoods Will Be Better Off

Written by: - October 28, 2009

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The Failed Olympics Bid – Neighborhoods Will Be Better Off

Many Chicagoans are still reeling with disappointment over Chicago?s loss of the 2016 Olympics. But the impact on the near south and South Loop real estate markets may have been less than positive after the flame was extinguished.

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Block 37 May Need New Developer

Written by: - October 28, 2009

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28 October 2009 ? Block 37 again faces uncertainty after Bank of America filed a $128-million foreclosure suit against its developer last week. One possible solution – replace current developer Joseph Freed & Associates with a new developer willing to pump more money into the project. Block 37 is already $34 million over budget. John […]

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More South Loop Condos Up for Auction

Written by: - October 22, 2009

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22 October 2009 ? On November 15, two additional South Loop condo buildings will be offering units in public auctions. The developers of 2303 S. Michigan Avenue will offer 20 units of its 52-unit loft building, and 40 of the remaining 97 units at 1400 S. Michigan will be auctioned on the same day. These […]

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Chicago Spire Faces More Trouble

Written by: - October 15, 2009

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15 October 2009 ? Chicago’s much challenged lakefront Spire project is facing yet another hurdle. The owner of NBC tower, where Shelbourne Development Group occupies the entire 18th floor in a $10 million sales center, is threatening eviction. The developer hasn’t paid rent since April 1 and owes more than $300,000. The 2000-foot skyscraper project […]

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Bronzeville’s Harold Washington Cultural Center’s Financial Problems

Written by: - October 8, 2009

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8 October 2009 ? Former 3rd Ward Alderman Dorothy Tillman played an integral role in opening Bronzeville’s Harold Washington Cultural Center in 2004, which relied on $7.7 million in public grants and employed Tillman’s daughter as its executive director. Shore Bank recently filed a foreclosure suit against the center in an effort to recover almost […]

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