We have the June 2010 data and sales continue to rebound from 2009’s dismal numbers. The median home price, however, once again fell. From the Illinois Association of Realtors: In the city of Chicago, June total home sales (single-family and condominiums) were up 27.5 percent to 2,526 sales compared to 1,981 homes sold in June 2009, […]
Crain’s reports that Lucien Lagrange, the famed architect of such downtown condo high rises as Park Tower and The Elysian as well as the still under development 2520 N. Lakeview in Lincoln Park, is retiring. One of the city’s most active designers for more than two decades, Mr. Lagrange, 69, says the firm filed for […]
The Chicago Tribune recently had an article about the price cuts at downtown developments such as Parkside of Old Town (which we chattered about already here at Crib Chatter) and The Columbian, the highrise along Grant Park on Michigan Avenue in the South Loop. But once we make it through this round of price cuts and sales, […]
Many of you sent me this article from the New York Times last week about the increase in distress sales among the million dollar property crowd. While it didn’t discuss Chicago, specifically, the wealthy North Shore suburbs do get a mention. Five properties here in Los Altos were scheduled for foreclosure auctions in a recent […]
The Chicago Tribune had an interesting article over the weekend describing one 32-year old Lakeview condo owner’s decision to file Chapter 7 bankruptcy when a short sale wouldn’t have saved him from still owing money on his $212,500 1-bedroom condo. Here’s the story in a nutshell: Del Phillips buys a 1-bedroom $212,500 condo in a […]
It’s that time of the month again to get the data about the state of the market from the Illinois Association of Realtors. In the city of Chicago, May total home sales (single-family and condominiums) were up 32.1 percent to 2,057 sales compared to 1,557 homes sold in May 2009, the ninth consecutive month of […]
The Chicago Tribune had an article on Sunday about the new luxury downtown rental buildings and how hot they are with prospective tenants, despite an unemployment rate over 10% in the city of Chicago and sky high rental prices including studios for $1500 and 1-bedrooms for $2000 a month. Unlike the suffering condo market, the […]
We won’t have the Chicago May sales data for several weeks yet but indications from other parts of the country are showing a much weaker than expected May due to the tax credits pulling buyers into the market ahead of the normal spring buying season. Everyone knew there would be a slowdown, but much like […]
Thanks to all those who pointed out the continued decline in the March Case Shiller condo index for Chicago. RyanC posted the link below to a SeekingAlpha blog post, complete with a great chart, on how Chicago’s condo market has taken a turn for the worst. A few months ago, Gary Lucido, our resident real […]
The Illinois Association of Realtors announced the April home sales results this morning: In the city of Chicago, April total home sales (single-family and condominiums) were up 41.1 percent to 1,985 sales compared to 1,407 homes sold in April 2009, the eighth consecutive month of year-over-year sales gains. The city of Chicago median price in […]