Archive for December, 2015

The Biggest Story of 2016: Will Inventory Finally Move Higher?

It’s been several years of low inventory in Chicago across all spectrums of properties including single family homes, townhouses and condos. The result has been bidding wars and rising home prices along with really low market times. In the last few months of 2015, however, inventory slowly crept up and bidding wars have receded. From […]

Second Biggest Story of 2016: Will the Rental Market Remain Red Hot?

Crib Chatter doesn’t cover much of what is going on in the rental market, but you’d have to be dead not to notice apartment rental tower after apartment rental tower going up all over the GreenZone. In 2015, developers were on track to deliver a record 3100 new apartments downtown. But they aren’t stopping there. […]

Third Biggest Story of 2016: The Luxury New Construction Boom – Will It Continue?

Developers are finally building mid-rise and high-rise condo buildings in Chicago again but nearly all of the new builds have been in the luxury price points. No.9 Walton in the Gold Coast is a good example of the type of new construction that dominated 2015. It will have just 66 units with the average size at […]

Market Conditions: Chicago November Sales Fall Just 1.4% YOY While Inventory Plunges

The Illinois Association of Realtors is out with the November sales data. While the country, the state of Illinois, and the 9-county metro area all saw sales take a steep dive in November, the City of Chicago held up well. The city of Chicago saw sales of 1,615 homes in November 2015, down 1.4 percent […]

The Lakeview SFH Alternative: A 3-Bedroom Penthouse at 2919 N. Burling

This 3-bedroom penthouse at 2919 N. Burling in Lakeview came on the market in October 2016. The building has 9 units with attached, covered parking. I can’t tell if there is an elevator but neither the current listing or the prior listing in 2014 says that it does so I am assuming it does not. […]

Just In Time for Santa, the Best Lincoln Park Deal of 2015: 1434 W. Wrightwood

This 2-bedroom townhouse in the Embassy Club at 1434 W. Wrightwood in West Lincoln Park just came on the market. It is bank owned. The listing says it is 1500 square feet. The kitchen has white appliances and what looks to be intact cabinets. The bathrooms also appear to be intact. It’s being sold “as-is”. […]

Dramatic Price Cut on Bank Owned Gold Coast 2/2: 111 E. Chestnut

This corner 2-bedroom at 111 E. Chestnut in the heart of the Gold Coast and the Mag Mile shopping district has been on and off the market throughout 2015. It is now bank owned. From the pictures, the unit appears to be intact. Located on the 12th floor, it has the preferred northeast side exposure […]

Market Conditions: What Will Happen to the Housing Market Now that the Fed is Raising Rates?

I’ve been running this blog for 8 years and in that time there has only been one Federal Reserve policy: cutting rates and keeping them near zero. For the first time in 9 years, the Federal Reserve has raised the Fed Fund rate. Yes, it was just a quarter point to 0.50%. But most analysts believe […]

1870s Lincoln Park Farmhouse Comes Back on the Market as Possible Teardown: 2734 N. Marshfield

This 2-bedroom farmhouse at 2734 N. Marshfield in Lincoln Park just came on the market. If it looks familiar, that’s because we chattered about it twice in 2014. You can read our March 2014 chatter here. If you recall, the farmhouse was built in 1870 but has been transformed into a contemporary loft-like space inside […]

20% Appreciation in 14 Months for this Loft in the Hot Clybourn Corridor: 1872 N. Clybourn

This 2-bedroom loft in the Clybourn Lofts at 1872 N. Clybourn in Lincoln Park came on the market in December 2015. At 1800 square feet, it has authentic loft features including exposed brick, timber ceilings and large, industrial Northeast facing windows. The master bedroom is enclosed but the second bedroom is lofted and open to […]