Chicagoland Realty Services Chicago Real Estate Blog

Part I

Lately, there has been much made of the current “housing recovery,” with many thinking that the market turn around has begun and that the end is near for short sales.  I could not disagree more, and here’s why:

 Has the market recovered?

According to Steve Berkowitz, CEO of Move, Inc., which operates realtor.com®, “Where we have seen significant volatility in many markets — including double-digit declines in inventories as well as increases in median price for both yearly and monthly views — we are now looking at a housing market that is less heated and moving closer to normalcy. Future home-price increases may be driven more by market demand than inventory shortages.”  As for pricing, Core Logic has released estimates of near 12% in price

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The city of Chicago never runs out of events to entertain the masses especially during the holidays.

 

Thanksgiving Day Parade

It doesn’t matter if you want to dine solo this Thanksgiving or can’t take time off from your busy schedule to stuff that turkey. A lot of restaurants in Chicago are open to residents who prefer someone else to cook their Thanksgiving dinner for them. Residents also look forward to the Chicago Thanksgiving parade which will be marching down State Street on November 22nd this year. The parade features a lot of characters in costume such as Ronald McDonald, Santa Clause and more.

Chicago’s 80th Thanksgiving Day Parade promises dozens of festive floats, theatrical performances, cultural groups, celebrity guests and more.

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Wouldn’t it be fabulous to have live/work loft in Chicago? How about the Loop? The Loop makes up downtown Chicago. Needless to say it makes sense for a businessperson or entrepreneur to want to invest in a live/work space that is in the heart of the Windy City. The lofts are great for budding artists or small businesses while the condos offer great accommodations - 

Live/Work Buildings in the West Loop

The west side of Chicago is also its most diverse. The area features a number of loft style condominiums and converted warehouses that are located downtown. In addition the average price for a one bedroom condo in the West Loop is around $200,000 while a two bedroom condo goes for $300,000 on average.

1242 W. Jackson Condos

1242 W. Jackson Blvd

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The city of Chicago has no shortage olofts for sale. Here are some of the most popular loft buildings

1872 N. Clybourn

The 1872 N. Clybourn is a mid rise condo/loft building that is located along the Clybourn Corridor in Lincoln Park. Each of the 1 to 2 bedroom units features timber ceilings, wide windows and exposed brick. 1872 N. Clybourn is also one of the few loft buildings that offers live/work accommodations. Clybourn is a commercial and retail corridor so it is easy to see why the lofts would seem as promising prospects for potential owners looking to start their own business in the city. Pets are allowed.

In-unit features include hardwood floors, laundry facilities and storm screens to name a few. Additional amenities include an elevator,

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Home Prices Continue to Grow in October

According to a report both real estate transactions and median sales prices experienced an increase in October for the city of Chicago. The time that homes spent on the market also decreased the report states. The  report shows a significant increase in transaction as compared to last year in October 2012.

Overview

According to recent reports for Chicago real estate in October, median home sales prices rose from 15% to $176,000. The total number of homes sold also increase from 10% to 9,179 units at the same time. Needless to say, the recent results show that the real estate marketing maintains its upward trend in October even though the increase wasn’t as strong as the same that was achieved during the

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The West Loop is one of Chicago’s hippest neighborhoods. Needless to say it is also where the residents go to whet their culinary appetites. Here are some of the most popular eateries that are all the rage in this trendy neighborhood - 

The Daily Feed

Are you afraid to pack on the pounds? Drop by at the Daily Feed the next time you are in the neighborhood. Right at the West Loop downtown Chicago, the Daily Feed is located at 1031 W. Madison Street the restaurant is located right in front of the area’s fitness centers. The convenient location is also why the restaurant is a favorite for gym junkies. In general the place is a modern café that specializes in health food. Try their shrimp skewers, wraps or something from their Grab and Go menu

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The West Loop in particular, has seen an immense transformation since its days as a factory district. An area that started off as an industrial district has now spawned into a large collection of galleries and loft conversions. The area is also home to a number of restaurants, nightclubs and of course a plethora of events–

Little Homer Story

Want to introduce your kids to a night of Greek culture? Take them to the Little Home Story Hour at the National Hellenic Museum in the West Loop.  The story hour will be featured on October 5th and involves interactive story telling accompanied by arts and crafts.

Ginger Baker’s Jazz Confusion

If you are a fan of Jazz then you will definitely love Ginger Baker’s Jazz Confusion. The event will take place

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It figures, just when you got your kids a new puppy that they have been bothering you about for years, you have to move. If that isn’t enough landlords don’t take kindly to man’s best friend either and no amount of “I will take all responsibility” will coax them to let your pooch live with you.

So what do you do? Do you stuff Fido in your zip up jacket and hope that the landlord doesn’t notice why his cat doesn’t go outdoors anymore? No, you look for dog friendly buildings in Chicago.  And there are plenty to choose from –

Regents Park

Apartment complexes like Regents Park in Chicago offer a doggy haven for pet lovers. The management is also giving away a free gym membership for signing up. It boasts of over 1026 units and is located at

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What’s New in Chicago Real Estate?

Chicago IL Real Estate For Sale

Good news for Chicago's real estate market in September.  Short sales are getting scarce and the real estate market in the city is continuing to show signs of a recovering market.

There were many more tradtional home sales this summer than last, meaning there were fewer distressed homes sold than in the summer of 2012. According to a report by MRED June saw the sale of over 7,998 homes in Chicago in June which makes the number 39% more than May 2012.

Homes are selling faster than this time last year as well. The average market time for a conventional home sold last year was 195 days. That is a stark difference from the 96 days a home took this year. Areas that are near the Chicago Loop are strong and it is

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By:  Linda Cain, Broker Associate for Chicagoland Realty Services 

We knew the recovery was full steam ahead when the housing market kept moving in the right direction  during 2013.  However, who could have predicted the condo market being this hot? 

After talking to property managers of large condo enclaves, our numbers from the MLS were confirmed from their comments.  “What used to be on the market for 60 days (average) has now turned into 2 days tops.  In fact, same day contracts are not unheard of.

Dan Howard from Capstone Property Management said, “We now have 2-bedrooms that come on the MLS and the very same day we may see 3 offers presented”  Now that’s HOT!

The beautiful timber lofts at 1000 West Washington see similar action.  “We

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