Archive for January, 2014

You Can Buy a 3-Bedroom SFH in Lincoln Park for Just $750,000: 2652 N. Seminary

This 3-bedroom single family house at 2652 N. Seminary in Lincoln Park just came on the market. Built in 1891, it is a Victorian on the outside but a contemporary home on the inside. It is also on an extra long 24×131 lot with a 2 1/2 car garage. The master suite takes up the […]

Market Conditions: December Home Sales Rise 12.5% in Chicago YOY

It’s that time of the month again. December was another solid sales month for Chicago. From the Illinois Association of Realtors: The city of Chicago saw a 12.5 percent year-over-year home sales increase in December 2013 with 2,080 sales, up from 1,849 in December 2012. The year-end 2013 home sales totaled 27,155, up 21.2 percent […]

Will These Lincoln Park Condos Make Way for Luxury Apartments? 2518 N. Lincoln

We’ve chattered about this building at 2518-2540 N. Lincoln in Lincoln Park before. Many of you who have traveled on the Red, Brown or Purple line also would recognize the back of the building- because it’s the building with the infamous roof top tennis courts (that I’ve never seen anyone EVER playing tennis on.) Crain’s […]

Will the Reduction in FHA Loan Limits Impact Condo Sales? 645 N. Kingsbury in River North

This 2-bedroom in Admirals Pointe at 645 N. Kingsbury in River North came on the market at the end of November 2013. It was bank owned in 2013 and has been renovated. The unit, with south, west and city views, has new dark hardwood floors and ceiling fans. It also has a new kitchen with […]

Will Luxury Condo Rentals Be the Deal of 2014? 550 N. St. Clair in Streeterville

There are thousands of new luxury apartments being built in downtown Chicago, some of which will come on the market later this year. They have all the luxury features of many condos, including stone counter tops, new kitchen cabinets, stainless steel appliances, and hardwood floors in the main living areas. This 1 bedroom plus den […]

Bought a Downtown Condo in 2009? Appreciation Depends on the Building: 130 N. Garland in the Loop

This 4-bedroom unit in the Heritage at 130 N. Garland in the Loop has been on the market since April 2013. It has direct views of Millennium Park and the Lake from every room in the unit. The 3100 square feet unit also has a much sought after 3-bedrooms and 2-parking spots included. The kitchen […]

You’ll Pay 37.6% More for this Streeterville 2-Bedroom Than 3-Years Ago: 600 N. Fairbanks

This 2-bedroom in Helmut Jahn’s 600 N. Fairbanks in Streeterville just came on the market. Long time readers might recognize it because we chattered about it in 2009 and wondered if the buyer in 2009 would make any money 5+ years down the line. (The comments are very interesting with the benefit of hindsight.) See our prior […]

Biggest Story of 2014: Will Chicago Home Prices Continue to Rise?

According to Case Shiller, Chicago October home prices rose 10.9% year over year, the fastest increase in 25 years. However, compared with September, Chicago prices actually declined slightly. From the Chicago Tribune: “The S&P/Case-Shiller home price index also showed though, that compared with September, home prices in October fell 0.5 percent, following a month-over-month gain of […]

Second Biggest Story of 2014: You’d Better Have a “New” or “Renovated” Property to Sell in 2014

In 2013, the market was dominated by stories of renovated homes selling almost instantly. Builders also reported brisk sales on new products. But even with low inventory, sales of fixers lagged. (And I’m not talking about foreclosures.) This 2-bedroom vintage unit at 621 W. Addison in East Lakeview came on the market in August 2013. […]