A new report pegs the price of a median one-bedroom rental in Chicago at $1670 a month, making the city the ninth most expensive place for renters in the country. According to the report, from the website byzumper...
A small tower will soon be gracing River North and even though it's only eight units, it's attracted the attention of at least one local real estate site after it received its zoning approval. Curbed Chicago calls the tower, to be built at 61 W. Erie, striking, and praises its high-end finishes and street level interest. The building also features generous terraces that are sure to draw the buyers in with access to an outside living space...
Remember all those condos that were purchased as rentals? Well one investor is going to test the market soon in a case that could have far-reaching influence on owners of downtown condos. It might be the right time to sell. Crain's has a fascinating and in-depth profile on the decision by Aventura, FL-based Gamla Cedron Group to sell 24 of the 34 condo units it owns and is currently renting out in the 198-unit tower at 757 N. Orleans St...
The median sale price for a condo in the city of Chicago rose to $285,000 in January , 13 percent higher than the year before. The median sale price for a single family home also rose to $163,275, an increase of 8.9 percent over the previous year. Part of that increase, of course, is being driven by the ever-decreasing inventory level in the area. For more, head over to DNAinfo here...
There's a new report out that puts a number on what a typical buyer must make to afford a home in Chicago: $54,346. The study, from HSH.com, assumes a 20 percent down payment and puts the median sale price of a home in the city at about $195,000 - that translates into a monthly payment of $1,286. That's principal and interest only, there's still taxes of course...
After the Illinois Association of Realtors released its latest report detailing a 5.2 percent drop in January market activity in the Chicago area, Chicago Agent Magazine drilled into the data and identified three factors that continue to affect the market. First, distressed inventory is declining. That's good news and a sign of a healthy market but it's also exacerbating a shortage on local inventory generally. Second, inventory remains limited...
Tucked away into a corner of Old Irving Park is a Landmark District marked by its distinctive stone pylons and diverse housing stock. It's called the Villa. Originally developed as a then-suburban style area, the district features a variety of amazing buildings ranging from bungalows to four square and proto-Prairie School architecture. The Villa Improvement League, a neighborhood group, keeps its landscaped medians and planters beautiful with spring and summer flowers...
Inventory continues to decline across the city and suburbs of Chicago and predictably the result is rising price and dropping market time. The Illinois Association of Realtors released it's numbers for January and existing home sales in the metro fell 5.2 percent from the previous year to a 5,619. The median price rose 8 percent, from $163,000 to $176,000. In the city, sales fell even more dramatically, by 8...
2 bed, 2 bath condominium. Second bedroom opens into the living room. W/D in-unit! Stunning views from every room! Navy Pier and cityscape views. Steps from Lake Michigan & Millennium Park/Maggie Daley park. Walk to Michigan Avenue. Parkshore offers roof top pool, exercise facility, tennis court, party rooms... Pets welcome! Valet parking included.
Another day, another residential development starts is way down the pipeline. Developers have presented a plan to bring a new mixed-use development to 3800 N. Broadway, near the corner of Broadway and Sheridan Rd...
Bucktown, great location! Penthouse unit. Large 3 bedrooms, 2 baths. Tons of natural light. Finest finishes. Master suite with walk-in closet. 10.6Ft ceilings. 3 Out door spaces... 2 balconies and a private roof top deck with sweeping skyline views. Solid oak floors. Covered tandem parking. Custom noise canceling windows. All brick building. Security system.
Yesterday local real estate website Curbed Chicago mapped a total of 17 high rise towers currently under construction here in the Windy City. It's a pretty amazing shift over the course of three years of market activity. The towers which range in height from as few as 24 stories up to 54 stories and includes everything from offices to hotels to residences going up in the South Loop, Loop, West Loop, Gold Coast and even Lake View...
Good news today for buyers wanting new construction in Sauganash. 35 new single family houses officially broke ground this week. The houses, from developer K. Hovnanian won't really begin construction until next month and later in the spring. They are part of a project that has been languishing since as far back as 2006. Sales for the project will begin this summer and the houses will range from $700,000 to $900,000...
One of Chicago's biggest buildings in one of Chicago's best locations is coming up for sale and the new owners could possibly include residences to fill out the vacant office space. The Aon Center, the third-tallest building in Chicago located adjacent to the hot area known as the New East Side, will soon be going up for sale according to its owner, Piedmont Office Realty Trust. It's a total of 2.7 million square feet and looks over Millenium Park...
If you're going to be looking for an apartment in downtown Chicago over the next two years you're in luck - they're building a lot. The Chicago Tribune recently published an article examining a building boom in progress and took a count of all the new construction rental apartments that will be coming online in the next two years. It's a big number - 8,000. The building boom is also extending beyond the Loop, to the West Loop, South Loop, River North and Streeterville...
Location! Location! Single family modern renovated home close to the expanding WEST LOOP area with fenced-in, landscaped yard & 2-car garage. Contemporary kitchen with granite counter tops & Stainless Steel appliances, island, hardwood floors thru out, carpeted bedrooms. Huge basement/great room with wet bar & wine cooler. Master bedroom on 2nd level & two additional bedrooms, closet organizers, skylights, and many extras...
One of the notes of constant complaint from potential homebuyers in the Chicago area over the last few years has been a dearth of listings but that appears poised to change. The number of newly listed homes rose 12 percent last month over January 2014, to a total of 19,170 new listings for sale. That's the most homes to hit the market in four years. "It's a good sign," MRED Spokesman Jeff Lasky told Crain's...
Do looser mortgage terms signal a banner year for real estate in 2015 and beyond? Over the last two months, Fannie Mae and Freddie Mac have made changes to their loan guidelines aimed at loosening the mortgage market by lowering the down payment requirements to 3 percent. On Jan. 26 the Federal Housing Administration paired that move with a reduction to the mortgage insurance premiums tied to FHA-based loans...
Another new tower is coming to the South Loop , bringing yet more residential units amid the glass and steel at 1333 S. Wabash. News today on Curbed Chicago that a new permit has been issued for a 28-story tower by Brininstool + Lynch that will include 307 condominium units and 213 parking spaces. It's estimated cost will be $53 million. Brought to the neighborhood by CMK it will be their second in a row, after the condo building next door at 1345 S. Wabash...
Magnificent south views of Maggie Daley Park, Millennium Park, and Monroe Harbor from this HUGE balcony! Largest one bedroom floor plan with solid oak wood floors. Newer kitchen and enlarged bathroom, and lots of closets! Price includes all furnishings. Building has a superb health club with indoor pool, renovated lobby and hallways. Skate the new skating ribbon at Maggie Daley Park, walk to the Art Museum, shop at Mariano's, enjoy the HOT New Eastside neighborhood!
