Urban Real Estate

2016

  • Will Tax Breaks Continue For Homeowners in 2017?

    Will Tax Breaks Continue For Homeowners in 2017?
    Industry News
    Friday, December 30, 2016
    With a new presidential administration taking shape and a call from President-elect Donald Trump to revise the country's complex tax code, what will happen to popular tax breaks enjoyed by homeowners? Specifically, two tax breaks could be on the chopping block in 2017: the deducation for mortage insurance premiums and the mortgage interest deduction...
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  • Chicago's Priciest Sales of 2016

    Chicago's Priciest Sales of 2016
    Industry News
    Friday, December 30, 2016
    While 2016 definitely had its share of unusual and surprising news (Cub's World Series win, anyone?), it was a good year for luxury real estate in Chicago. The highest-priced sale in the city was a penthouse condo at the Waldorf Astoria (it sold for $11.7 million) but it wasn't alone in the multi-million dollar category...
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  • New Development Proposed For Hyde Park

    New Development Proposed For Hyde Park
    Industry News
    Thursday, December 29, 2016
    Hyde Park could soon be seeing a new residential tower. Developer MAC Properties last week released plans for a new residential tower at 1600 E. 53rd St. that would rise a total of 27 stories and feature 250 units together with 10,000 square feet of retail space. Designed by Chicago architecture firm Solomon Cordwell Buenz (SCB), the building will also feature an outdoor pool and 160 total parking spaces. Read more at Curbed Chicago here .
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  • From Decluttering to Burning Calories with DIY Projects, Make Your Home's 2017 Resolutions

    From Decluttering to Burning Calories with DIY Projects, Make Your Home's 2017 Resolutions
    Wednesday, December 28, 2016
    While the new year is generally the annual signal for many to get back into the gym or to resolve to otherwise improve themselves, often times, the simplest items to add to the list are overlooked... and your home deserves its new year's resolutions, too! Check out this thought-provoking list of the Top 10 New Year's Resolutions for Your Home from HouseLogic.com
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  • Do's and Don't's For Condo Buyers

    Do's and Don't's For Condo Buyers
    Industry News
    Tuesday, December 27, 2016
    Buying a condo is not only a big investment, it is also a decision that can be very complicated at times. There are many factors to consider for each condo building and though two units may have a similar number of bedrooms and bathrooms, they may be completely different; one could be a good investment, the other a money pit...
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  • Monday Real Estate Round-Up

    Monday Real Estate Round-Up
    Industry News
    Monday, December 26, 2016
    A large development planned for Wicker Park just received its first permit for construction. The permit was issued for the Wicker Park Connection's first building, a 15-story rental tower to be built at 1640 W. Division which will ultimately include new first floor retail, 140 residential units and 52 parking spaces. The full plan calls for a seven-story condo building and 17 townhouses on nearby lots. Read more at Curbed Chicago here ...
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  • Home Equity Grows by $1.02 Trillion

    Home Equity Grows by $1.02 Trillion
    Industry News
    Friday, December 23, 2016
    The latest numbers show that Americans have a lot to be happy about as the year winds to a close - $1.02 trillion to be exact. That's the increase in American's home equity revealed by new quarterly data released by the Federal Reserve for the 12-month period ending Sept. 30. Breaking it down, the average home owner saw a gain of $12,500. In hotter markets like the West Coast, that number was double...
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  • Just Sold at the Amazing Aqua in the New Eastside

    Just Sold at the Amazing Aqua in the New Eastside
    Just Sold
    Thursday, December 22, 2016
    Amazing Aqua Living! This 1 Bedroom, 1 Bathroom home features hardwood floors throughout, french doors, 2 custom walk-in closets and a large balcony with awesome south-facing views overlooking Lake Michigan, Millennium Park, and the Michigan Avenue skyline. Open kitchen includes stainless steel appliances and granite counters. Marble, Grohe, Moen, Toto in bathroom, in-unit washer and dryer...
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  • Home Sales Climb in November

    Home Sales Climb in November
    Industry News
    Thursday, December 22, 2016
    Chicago-area home sales climbed dramatically in November, according to the latest data from the Illinois Association of REALTORS®. The Chicagoland nine-county market had just under 7,000 sales in the month, up 16 percent from the year earlier. Median sale price rose to $215,000, a 10.3 percent increase from the previous year. Inventory meanwhile, continued to decline. The area's inventory was down 17.5 percent from the previous year...
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  • Why Is Inventory Still So Low?

    Why Is Inventory Still So Low?
    Industry News
    Tuesday, December 20, 2016
    Each month that goes by seems to bring a new low in the level of housing inventory for sale. Buildings have received an out-sized amount of blame but a new study points to another reason that recent home price gains have obscured. According to new research from Zillow, the percentage of houses that are underwater or in negative equity is still high. In Chicago, they calculate that number is 17 percent of all houses, or more than a quarter of a million houses...
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  • Monday Real Estate Round-Up

    Monday Real Estate Round-Up
    Industry News
    Monday, December 19, 2016
    In their last meeting of the year, the Chicago Plan Commission gave the green light to several large developments including a new residential development in Old Town. The proposal from, LG Development and designed by NORR, would replace the Noble Horse Theatre and stable with a 252-unit, seven story apartment building. It wasn't the only new and large project approved: there were others in Logan Square and Chinatown. Read more at Curbed Chicago here ...
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  • Urban Partner Matt Silver's Cover Story as President of Trade Association

    Urban Partner Matt Silver's Cover Story as President of Trade Association
    Urban proudly celebrates partner Matt Silver and his installation as president of real estate trade organization, Chicago Association of REALTORS. Learn more about Matt, and his vision for where the industry's opportunities are to thrive in 2017 in this issue of CR Magazine
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  • Home Prices Forecast To Rise In 2017

    Home Prices Forecast To Rise In 2017
    Industry News
    Friday, December 16, 2016
    The latest forecast indicates that home prices in the Chicago area will likely increase again in 2017 for the fourth straight year. The forecast comes from the Illinois Association of REALTORS® and the University of Illinois professor Dr. Geoffrey J.D. Hewings. They're also predicting however, that historically low mortgage rates will continue to climb as well. In the Chicago area, home prices should rise between 3.8 percent and 8...
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  • Proposed West Loop Apartment Development Unveiled

    Proposed West Loop Apartment Development Unveiled
    Industry News
    Thursday, December 15, 2016
    A new West Loop apartment development would transform an entire block bordered by Washington, Sangamon, Morgan and Madison if developers have their way. Dubbed "Union West," the project from developers ZOM Mid-Atlantic and Verde Communities, was designed by Chicago-based bKL Architecture and would bring 405 new apartments to the site...
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  • Yes, Mortgage Rates Are Up, No, The Sky Is Not Falling

    Yes, Mortgage Rates Are Up, No, The Sky Is Not Falling
    Industry News
    Wednesday, December 14, 2016
    It's been well documented that mortgage rates have climbed each week since the presidential election and are, today, at their highest level in nearly a year and a half. But perspective is important. A new study out from Zillow points out that even with rates rising, they remain at historic lows and that the difference in the average buyers monthly payment in all major markets between 4 percent and 4...
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  • Buying a House Before Marriage - Good Idea?

    Buying a House Before Marriage - Good Idea?
    Industry News
    Tuesday, December 13, 2016
    As traditional norms have given way in recent years, many couples have up-ended the usual progression of adult life. Instead of pursuing marriage before purchasing a home, now it can also happen the other way around. Co-habitation in a rental space is nothing new, but some experts warn that even that, without a legal agreement in place, can be tricky...
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  • Monday Real Estate Round-Up

    Monday Real Estate Round-Up
    Industry News
    Monday, December 12, 2016
    One of the north side's biggest real estate deals has closed and it could mean a dramatic transformation for one neighborhood. Developer Sterling Bay has closed on the former Finkl Steel site for a reported $100 million, bringing their holdings in the area to a total of 35 acres. If they're able to change the zoning and begin work on their project, it could mean a new development to the west side of Lincoln Park in the $1 billion range. Read more at Crain's here .
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  • Light & Bright Corner Unit Just Sold in Lakeview

    Light & Bright Corner Unit Just Sold in Lakeview
    Just Sold
    Sunday, December 11, 2016
    Enjoy this wonderfully bright 2 Bed / 2 bath corner unit home in the beauitful Lakeview neighborhood. Accommodations include a combined living/dining room with a corner aspect and plentiful windows, which opens to a well appointed kitchen. Generous master bedroom suite with ample closet space and ensuite master bath. Large second bedroom with spacious closets, and a second full bathroom...
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  • Is the Market Ready for 2.5M 'Boomerang Buyers'?

    Is the Market Ready for 2.5M 'Boomerang Buyers'?
    Industry News
    Friday, December 09, 2016
    There could be some good news on the horizon for homeowners and the real estate market in general. According to a new report, some 2.5 million homeowners who lost their houses when the housing market crashed in 2008 will see the foreclosure, short sale or bankruptcy fall off of their credit report this year. They're the so-called "boomerang buyers...
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  • New Condo Project Coming to River North?

    New Condo Project Coming to River North?
    Industry News
    Thursday, December 08, 2016
    New condos could soon replace a restaurant in River North. Named "Blank Chicago", the building would deliver 31 condos to the southwest corner of Wells and Ontario and for ribs fans, the Carson's Ribs would be re-established as a ground floor retail tenant. This development would join other projects at Wells and Ontario, including the former Ed Debevic's site and a new hotel planned for 611 N. Wells. Read more at Curbed Chicago here .
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