Tag Archives: Chicago

Condo Investors See A Bottom to the Chicago Housing Market

Written by: - November 12, 2009

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Condo Investors See A Bottom to the Chicago Housing Market

Miami-based luxury high-rise developers Crescent Heights put Cityfront Place under contract for $83 million and the deal is supposed to close this month. This acquisition is the first downtown apartment building to sell in over two years which is a good indicator that the rental market might rebound before any other division in the housing market.

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Death and the Gold Coast: Columbarium Suggested for the Exclusive Chicago Neighborhood

Written by: - November 11, 2009

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11 November 2009 ? The Three Arts Building located at 1300 N. Dearborn may be turned into what some are calling the Midwest?s largest columbarium.Ā  Don?t? have a dictionary handy? This columbarium will have enough space to store the ashes of up to 15,000 dearly departed residents. Built in the early 1900?s, and designated a [...]

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Tax Credit Extended and Expanded

Written by: - November 6, 2009

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6 November 2009 ?As home buyers, sellers, RealtorsĀ® and affiliated professions await the signing of the expanded Home Buyer Tax Credit by the President, buyer options continue to narrow. According to the regional MLS, MRED LLC, there are 26% fewer homes under $800,000 on the market today than in October of 2007. While single family [...]

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Senate Agrees to Extend Home Buyer Tax Credit

Written by: - October 30, 2009

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30 October 2009 ?Agreed Does Not Mean Passed – There is much optimism that the tax credit for first time home buyers will be continued into next year. Although the Senate has agreed on an extension and expansion of the program, it has not yet passed. As with any piece of legislation, the housing tax [...]

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Property Tax Bills in the Mail, Many See Steep Increases

Written by: - October 29, 2009

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29 October 2009 –GET YOUR CHECKBOOKS OUT……. Bad news and not so bad news for Cook County and Chicago residents. The new tax bills will be arriving shortly and some residents may want to be sitting down when they open their mail. Most Cook County residents will be looking at a median increase of 10 [...]

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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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October Home Prices Rise, But A Full Recovery Remains Elusive

Written by: - October 27, 2009

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October Home Prices Rise, But A Full Recovery Remains Elusive

Chicago saw an increase in home prices from July 2009 to August 2009 of 1.7%, but a 12.7% decline of year over year prices. No matter who is pulling the data and how they chart it, the message is the same ? first time buyers and jobs.

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Sellers Biggest Mistake: Thinking Showings Equal Offers

Written by: - October 8, 2009

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Sellers Biggest Mistake: Thinking Showings Equal Offers

Representing both buyers and sellers I have learned the impact of price changes in this particular market. It is home-buying process is not only about the value of the property, but also the buyer’s perception that the seller really wants to sell. Sellers Must Acknowledge Price Pressures Sellers need to remember, particularly right now, they [...]

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Will the Old Post Office Close Today?

Written by: - September 30, 2009

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30 September 2009 ? Today?s big cliffhanger: Will the old Chicago Main Post Office actually close today or not? Inquiring real estate minds want to know. With an opening bid of a measly $300,000, everyone is waiting to see if wealthy would-be buyer Bill Davies (the high bidder who pledged $40 million for the property [...]

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Post-Olympic Landscape Not as Different as Today’s

Written by: - September 29, 2009

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29 September 2009 ? With the final location announcement looming, Chicagoans are both excited and apprehensive. But little has been said of the long term impact of the enormous venues needed to host the 2016 games. Will we have a “Bird’s Nest” that only tourists visit, similar to Beijing? Not necessarily, according to the plans. [...]

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One of A Kind

Written by: - September 24, 2009

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24 September 2009 ? While the City of Chicago boasts miles and miles of lakefront, very few single family homes grace the shoreline, especially on the north side. But now you too can own a private slice of beach – 56 feet of private shoreline to be precise. The home owned by the family of [...]

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Number 77 of the Chicago 77

Written by: - September 22, 2009

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Number 77 of the Chicago 77

For the last several months I have been writing for the Chicago 77 Real Estate Blog. The title came from the 77 communities that make up the City. Some of my posts have been brief market updates and other longer and more substantive. In thinking of a new post to write, I realized I had [...]

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