Vacation rentals, like the website/service AirBNB, have landlords, condo owners and tenants seeing green in their extra bedroom or sofa - but a recent article from the Chicago Tribune cautions that the practice may be illegal or a violation of association bylaws or leases. With a Grateful Dead reunion concert set for this summer and hotels across the city booked, all sorts of local residents are probably taking a hard look to see if they can bring in a little extra cash...
There's a fascinating peak into a future that never was for Chicago's popular New East Side over on the Chicago Architecture Blog today. As a part of their "Chicago Neverbuilt" series, the blog, which profiles architectural past, present and future in the city, published an extensive report on a plan for the area that became the New East Side. The original plan, by Skidmore, Owings and Merrill (SOM), was put together in the dim mists of the past in the 1960s...
Chicago's top-selling neighborhoods in January 2015 are out and some familiar names top the charts yet again. The Near North Side crushed the competition with 139 total sales, West Town followed with 74 sales and Lincoln Park was third with 69 sales. When selected for only single family homes the numbers are different, with Ashburn at 29, Portage park at 27 and Dunning at 25. For more and a nifty graphic, head over to Chicago Agent Magazine ...
Very large 1,450 sq ft 2 bed/2 bath well maintained 1st floor walk-up on quiet street in Bucktown/Wicker Park! South facing sun drenched condominium with bonus sun room. Master bath includes heated floors, separate bath & shower, dual sink. Kitchen includes granite counter tops, Stainless Steel GE Profile appliances w/dishwasher, Brazilian cherry hardwood floors. 1 parking space included & washer/dryer...
Elegant 3 Bed/3 Bath with nearly 3,000 sq ft on one floor! Floor-to-ceiling views of Grant Park Lake Michigan, city skyline, and museum campus. Hardwood floors, Chef's kitchen, 1.25" granite counter tops. Stainless Steel GE Mono appliances, gas cooktop, dual ovens, wine fridge, rich cherry cabinets, separate dining/living areas, 10 ft ceilings. Separate laundry room. Master bedroom includes his & her walk-in closets. Two side-by-side parking spaces included...
Home prices in the Chicago Metro area continued to rise in January, 4.9 percent, continuing a climb that is fueled in part by ever-declining inventory levels. But at the same time the good news for buyers is that affordability is up due to falling mortgage rates. Locally, the prevailing mortgage rate is 4.09 percent, down .12 percent. So, monthly payments and salary requirements are going down even as prices rise...
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...
