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.
Tag Archives: Chicago
Written by: Nancy Gaspadarek - November 11, 2009
Comments Off on Death and the Gold Coast: Columbarium Suggested for the Exclusive Chicago Neighborhood
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. 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 […]
Written by: Andrea Geller - November 6, 2009
Comments Off on Tax Credit Extended and Expanded
6 November 2009 ?As home buyers, sellers, Realtors® 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 […]
Written by: Andrea Geller - October 30, 2009
Comments Off on Senate Agrees to Extend Home Buyer Tax Credit
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 […]
Written by: Nancy Gaspadarek - October 29, 2009
Comments Off on Property Tax Bills in the Mail, Many See Steep Increases
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 […]
Written by: Stacy Braack - October 28, 2009
Comments Off on 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.
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 […]
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.
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 […]
Written by: Nancy Gaspadarek - September 30, 2009
Comments Off on Will the Old Post Office Close Today?
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 […]
Written by: Stacy Braack - September 29, 2009
Comments Off on Post-Olympic Landscape Not as Different as Today’s
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. […]
Written by: Stacy Braack - September 24, 2009
Comments Off on One of A Kind
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 […]
Written by: Andrea Geller - September 22, 2009
Comments Off on 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 […]