Crain’s is reporting that the bank will attempt to sell unsold condo units at the 2930 and 3033 N. Sheridan conversion buildings in Lakeview in bulk to an investor. North Community Bank has taken over two stalled condo conversion projects in Lakeview and plans to sell the unsold units in bulk. An investor likely will […]
The Chicago Tribune sees signs of optimism in the spring selling season. While the results of February existing-home sales, released Monday, were as dismal as expected, the number of contracts signed during the month was at its highest level since April, when a homebuyer tax credit was propelling the market. Additionally, there are stories of […]
The Illinois Association of Realtors is out with the February sales data. As expected, sales continued to be weak, declining 13.8% year over year but median price actually rose slightly compared to last year. Also, for the first time, the IAR broke out single family home median prices (as compared to attached properties) in order […]
There has been lots of talk both locally and nationally that rents are about to take off. Renters beware: Double-digit rent hikes may be coming soon amid rental vacancy rates that have dipped below the 10 percent mark, where they had been lodged for most of the past three years. “Young people are starting to […]
Crain’s is reporting that the 82 unsold units in the Silver Tower at 303 W. Ohio in River North are on the market as a block and could sell for as much as $16 million. From Crain’s: The project’s court-appointed receiver, Steven Baer, managing member of Chicago-based Rally Capital Services LLC, hired CB Richard Ellis […]
How hard is it to get a condo loan in Chicago these days? In some buildings, it’s impossible, as they appear on mortgage lenders “blackballed list” which means they won’t lend in the building. Real estate agents and lenders say they are seeing more developers, condo associations and individual owners in economic distress, and, as a […]
As predicted from many on Crib Chatter, sales continued to be weak in January, falling 14% compared to January of 2009. The median price also fell 12.8% year over year. Median condo prices fell 14.6% year over year to $239,000. From the Illinois Association of Realtors: In the city of Chicago, January total home sales (single-family and […]
Last week, the Daily Herald published statistics on the towns with the most and the fewest number of vacant housing units in the Chicagoland area. The data was compiled from the U.S. Census. According to the Census a “housing unit” could be: “a house, an apartment, a mobile home or trailer, a group of rooms, or a […]
According to Crain’s, the two most expensive home sales in Lake Forest in 2010 were both short sales. Even though these sales were in Lake Forest, and not Chicago, since we’ve discussed the North Shore several times lately I thought I’d put it out there for discussion especially as some posters on Crib Chatter seem to […]