Market Conditions: Will Demographics Doom the Suburban Housing Markets?
Inventory at 9-year lows in the city of Chicago, and prices are soaring in many neighborhoods, but not so in the Chicago suburbs, including some of the “prestige” suburbs like Burr Ridge, Lake Forest and Glencoe.
From the Chicago Tribune:
On Chicago’s Near North Side, Dr. Richard Green, a veterinarian, and his wife, Willie, a seventh-grade teacher, sold their longtime home in Glencoe last year and bought a condo off North Lake Shore Drive.
The empty nesters wanted to move downtown to be closer to their first grandchild, and looked at more than 15 properties.
The condo they decided on had been on the market for only a day or two when they saw it, and within days, they bought it, said Stacy Karel, the couple’s @properties agent.
Richard Green said it took them two to three months to sell the Glencoe house, where he lived for 35 years and “we settled on a price which I was not happy about.”
Indeed, the Glencoe housing market slipped last year.
The median price of a Glencoe home last year fell by 0.1 percent to $894,000. The typical home in that north Cook County suburb was on the market for 134 days, up from 124 days in 2014. Glencoe sellers typically received 90 percent of their asking price, down from 91.3 percent in 2014.
Where is everyone moving to?
Apparently, buyers are looking in Chicago and pushing west. Those priced out of North Center are going to Irving Park. If you can’t afford Bucktown, you move to Logan Square. And those who can’t afford the hottest neighborhood in the country, Ukrainian Village, are heading to Humboldt Park.
The 606 is becoming an attractive selling point as well.
It has been eight months since the opening of The 606, and the $95 million urban park with its 2.7-mile trail appears to be giving a jolt to Humboldt Park’s real estate market.
Median prices for the Chicago neighborhood’s single-family homes and condominiums last year increased 62 percent and 184 percent, respectively, according to data from the Chicago Association of Realtors.
It’s hardly the only city neighborhood or suburban housing market that turned in a sparkling 2015 performance. In fact, there were pockets of good news to the north, west and southwest, but Humboldt Park stood out.
Take a home in the 1300 block of North Maplewood Avenue in Humboldt Park, one of four neighborhoods, along with Wicker Park, Logan Square and Bucktown, that host The 606.
Mario Greco, an agent at Berkshire Hathaway HomeServices KoenigRubloff Realty Group, said the property’s original list price on March 1 was $799,000. It was under contract by March 17 and sold for $800,000.
“It had tons of activity, way more than a similar property would have had in the past,” when it might have taken more than 100 days to sell, Greco said.
“Bucktown was already a desirable neighborhood, so The 606 has had a minimal positive effect on it — in fact, maybe potentially negative for properties right up against it, now that people are peering into their windows or looking down into their yards,” Greco said. But “as you get west of Western Avenue, the positive effect on property values and neighborhood desirability goes up because of The 606.”
Is the slowdown in the housing markets in the older, baby boomer suburbs just a temporary phenomena or are we seeing a sea change like that of the 1960s, when city dwellers packed up and moved to the suburbs for a better life, only now it’s reversed?
Or is it simply demographics? Too many baby boomers retiring and wanting out of aging, large homes, only there aren’t enough buyers for them all.
Hot Neighborhoods: Humboldt Park and West Pullman among areas showing gains [Chicago Tribune, Becky Yerak, February 5, 2016]
The suburbs will be just fine. There’s some price pressure in the typical UMC suburbs because some UMC households are choosing the city rather than the suburbs. However, it’s not as if other households are choosing albany park over mt prospect or englewood over des plaines. The UMC suburbs have been too frothy for too long anyways. It’s about time prices return to earth.
with cheap gas and dropping interest rates I’m sure the suburbs will stay attractive for those folks with 2 or more keeds
It depends on the suburbs. Suburbs like Buffalo Grove are doing fine: http://www.chicagobusiness.com/realestate/20160202/CRED0701/160209984/live-in-these-suburbs-good-luck-selling-your-house
Confused (usually am)
didnt two weeks ago we argue on a topic about all these folks moving to the suburbs (ones originally from the burbs) needing a therapist to cope with the transition?
but now a new anecdotal article has come about to tell us nobody wants to move to the burbs and its a influx of people move to the city and the burbs are doomed with lowered property values and uninhabited properties.
Oh shyte Glencoe is the next Englewood!!!!!
““prestige” suburbs like Burr Ridge, Lake Forest and Glencoe”
Hmm. Does anyone really think of Burr Ridge as a ‘prestigious’ burb? yeahyeahyeah, high median income, expensive house–it takes more than that, no?
“:it takes more than that, no?”
For old monied North Shore snobs it does but for new money in the corporate world in the western suburbs, it’s not Hinsdale, but the next best thing.
hey being at the junction of I294 and I55 has its perks right?
“for new money in the corporate world in the western suburbs, it’s not Hinsdale, but the next best thing”
And Hinsdale ain’t OB. Almost all of Burr Ridge is in Hinsdale South attendance area–H-S’s stats are about the same as Lincoln Park HS, but with half as many poor kids. It’s like saying the Maine East part of Glenview is ‘the next best thing’ to New Trier. It’s *fine* but it ain’t “prestige”.
“being at the junction of I294 and I55 has its perks”
Super easy to get to Plainfield AND Markham!
So, the Glencoe house from the article is interesting–there’s a RF agent review that sez (among other things) the following:
“While house has solid bones, and livable as is, it needs quite a bit of updating to bring it up to date.”
Pix support that review. Buyer got a mortgage for ~165% of purchase price–clearly as a construction loan. Will likely return to market (this summer?) as a near $2m house.
anon(tfo) how long did it take you to find the doctor’s house? I looked up the name in ccrd and gave up with the large number of entries under that name.
I also think it’s hilarious this guy lives in Glencoe for 35 years and does little updating, and now he’s upset that 35 years later he didn’t sell for as ridiculously high a price he wanted? whatever,
@homedelete, I think that is common with older suburb owners. My mom still lives in Oak Park, as do a lot of her friends, and NONE of them are updating anything. It’s too much hassle and too much work. They all would rather let the new owners ‘do what they want’. As I’ve told my mom lots of times, then you won’t get the price you want.
It’s not age demographics that are killing the suburbs, it’s race & median income demographics that are killing the suburbs.
The white middle class isn’t reproducing, and it’s slowly being replaced by a non-white lower-middle class. Trump is right, “they aren’t sending their best people” and the demographics are falling. You can blame this on race and IQ, or you can blame it on “Wall St.” or billionaires/crony capitalism. Obviously the Far Left can’t handle truths about genetics so they concoct a bernie sanders scenario where billionaires (1/2 of whom are Jews) are to blame for bad demographics.
The suburban housing decline will not be due to aging baby boomers, but the fact that their replacements are incapable of supporting the suburbs’ culture and organization of their predecessors. You now see retail strip centers in the burbs falling into massive decline. Retail site selection folks cannot find the demos in many areas of Chicagoland to support/justify construction of new stores. The Left ruling class keeps raising property taxes and deficits. The south suburbs like Homewood are into a death spiral now. Now escaping. They are the harbinger for other suburbs. There was a murder in Bolingbrook (in the Trib this morning), etc.
The Chicago Archdiocese just announced a massive upcoming restructuring, with many church closures scheduled. The newcomers (“they aren’t sending their best people”) cannot support what was left to them. Their “family values” stats (e.g. illegitimacy rates etc) are also in the tank as compared to their predecessors.
As an anecdote, I was talking with an Italian-American guy who now lives in Oak Brook. His former parish growing up St. Frances of Rome in Cicero (massive complex they built: church, school, convent, etc.) is not being supported by the Mexicans who now run it. They aren’t doing the job, they cannot do it, they don’t care to, and their values are not as strong. He says the weekly collection there is something like $3000 and they put no money in the collection.
Demos are killing the suburbs, but it’s not “age”.
“looked up the name in ccrd and gave up with the large number of entries under that name.”
Use the advance search and time limit to after 1/1/15. Then a manageable number (think there was only one deed of any sort as a grantor).
“They all would rather let the new owners ‘do what they want’. As I’ve told my mom lots of times, then you won’t get the price you want.”
Yeah, what they want to do is get a decent structure at a discount to what an update place would cost minus the cost of updating.
The Glencoe house has a Redfin estimate of over 60% more than the actual sale price–because Redfin’s estimator apparently assumes ‘average’ finishes/condition for the neighborhood. Had the sellers put $300k into updates, they would have likely gotten it out. Maybe even come out a little ahead.
But, unless you really expect a good return on that reno–like 25% or better–it’s just not worth it. The drama of living thru it, and the higher costs compared to a builder who can take the project off your hands, make it make more sense to just dump it.
BUT, if I were in a dated house, I would contact at least a couple builders to see it there is interest in an off-market sale.
TL;DR for HH’s post:
https://www.frinkiac.com/meme/S07E23/357006.jpg?lines=+Immiggants%21+I+knew+it+was+them%21+Even+when+it+was+the+bears+I+knew+it+was+them%21
” The drama of living thru it ”
Way to many people underestimate the stress and work involved in just a simple renovation. That HGTV makes it seem a breeze and is done in a few days.
even a basic bathroom redo is about a week sometimes two depending on whats needed or wanted. even if you have a second full bath, the noise, the dust, the inconvenience is a substantial component in the whole thing.
and trust me no matter what you as the homeowner think, you home is not up to code. it was at the time the renovation was done, but for most that was 10+ years ago. and i will bet that anything brought to code was only done for the room that was worked on. So if your kitchen was done 7 years ago, and you want to do the bathroom now, guess what? yep your bathroom will need a major redo.
also say you want to do a kitchen and back family room, 9 out 10 times if your are gutting the thing you will need a structural engineer to go into the basement and pick apart the structure changes because the floor has a big dip. and 8 out 10 times the contractor wont find that out until the demo is done, and he/she probably didn’t factor that in. Not into the cost or the timeline, even though and average Joe can see or feel the dip.
and if you know you are moving in 5 years why deal with the renovation headaches when the new owner with probably rip out what was done anyway.
btw: this is all dependent on the ROI of the updates.
“a basic bathroom redo is about a week”
That’s *really* basic.
“That’s *really* basic.”
i guess *basic* is a point of view. a basic bath redo in portage park will be WAY different than a basic bath redo in lets say in the St. Ben’s hood. (yes i have boycotted saying north center.)
ROI matters. A former neighbor of mine did a old bathroom renovation. He installed a Jacuzzi, thinking that such luxury would be a good selling point. The Jacuzzi cost $6,000. It had no effect on the selling price. He used it 6 times and said that each soak in his Jacuzzi cost him $1,000.
“a basic bath redo in portage park”
So, no tile work?
What are we left with:
commode
vanity
light fixtures
towel bars
paint
maybe a fiberglass tub surround
How does that take a week? A week of GIY after work, with maybe a half day off, right?
“Jacuzzi … had no effect on the selling price”
May have had a negative effect, compared to a standard tub of similar size.
I’m of the belief that a large, moderately finished bathroom is probably the most ideal. The expensive bathrooms with the fancy stone are just so gaudy. I like open space more than anything.
“How does that take a week? A week of GIY after work, with maybe a half day off, right?”
1 day demo. Most baths in chicago are not vented at all, and the electric will be old, right there that’s 2-3 days. Chicago sized baths are tiny so no more than two guys really work on it, as more than one its to crowded. Tile is easy one guy cuts the other sets, but you need 24 hours before you grout, so 2 days. that right there is 5-6 work days so one week.
to me a basic isnt re-plumbing anything in the wall. an average sized chicago bath is too small to have one dude paint while the other install fixtures. its usually a skilled tradesman in the bath and a basic laborer outside cutting and carrying stuff.
“a basic isnt re-plumbing anything in the wall”
What you’ve described is a full re-do, and the difference in that from Portage Park to the Gold Coast is all in the level of finishes, and whether you need to use guys with union cards.
A week is pretty slapdash, if you’re running a vent fan properly, and tiling both the floor and the tub surround. If you’re replacing the tub (and thus leveling the subfloor) I don’t see how you do it in less than 10 working days (not all necessarily full working days)–especially with your space-constrained facts.
I’ve been thinking of doing a major reno in the next year or so… kitchen, baths, basement, some dormer work. I can’t even wrap my mind around how we are supposed to live through it. Might make sense to rent an apartment during construction.
I think more people would renovate if it wasn’t such a disruption.
“I don’t see how you do it in less than 10 working days”
i’ve done a few baths, skipping the venting and had a buddy redo the electric in about 5-6 work days. Basic tile easy cut (no marble), reuse tub if in good condition, stock vanities came with counter tops, did one a pedestal sink (actually the pedestal added a day as i had to fancy up the exposed plumbing re-route the wall pipe to the correct spot).
what adds to the time is lets say the homeowner wants a nostock tile in a herringbone pattern. the stock comes in nice sized squares attached to a mesh back, easy to cover areas fast. non-stock you have to set each piece and use spacers for each time for the same are for stock to non stock is tripled. and really the look is the same in the end.
i guess i maybe looking at it from my point of view as i can slap up some green board and tile in a day. paint, grout, vanity, water closet, and fixtures the next day.
since i aint union and i aint getting a dang permit, jacking the subfloor from the basement to almost level and lag bolting a few framing hangers would only take me a half day.
but again that’s me so double that for a contractor, so i can see your point. also factor in that if basterd would even start on time. which most dont as they have two jobs that went over schedule and can only send over a cracked out laborer to do the demo.
“I don’t see how you do it in less than 10 working days”
Crib Chatter, where anonymous people debate how long imaginary rehab projects take.
Has anyone figured the average number of comments before the thread goes off the rails from the featured property to the more interesting stuff? which undoubtedly drives Sabrina batty.
CC’s mad hater says ‘Trump’s right, “they aren’t sending their best people” ‘. The prior waves of immigration only brought us educated UPM immigrants from Ireland, Poland etc? While the conclusions don’t fit HH’s hateful narrative here’s an alternative take:
http://chicagoreporter.com/on-chicagos-southwest-side-immigrants-have-breathed-new-life-into-communities/
I wonder what trees HH’s planted?
As to his assertion Cicero was once heaven on earth I read an article today in which researchers quantify how people mis-recall what their old neighborhood’s were really like. I remember exactly what the housing stock around St. Sabina’s was like pre white flight. While it was cost effective housing for working class families, it was old, cheaply built and poorly maintained. Tt got even costlier to maintain after block busters convinced lower middle class owners to sell & flee.
“I’ve been thinking of doing a major reno in the next year or so… kitchen, baths, basement, some dormer work. I can’t even wrap my mind around how we are supposed to live through it. Might make sense to rent an apartment during construction”
that all depends if you do it all at one time, having a bunch of trades doing the do-see-do around each other is fun as it is, add a family to the mix is just that much more.
a lot of times it comes down to a good contractor’s planing and using the same subs on repeat jobs to get a good flow. also the homeowners expectations need to be set correctly. if those are in place, major work can be done surprisingly fast and with little headaches.
also from anecdotal evidence i find when homeowners try to “piece meal” each remodel and do one or two a year, the next years plan doesn’t happen. Say the plan is the kitchen this year, basement next, addition to the back the third year. after the kitchen it will be 5 years before the basement is even thought about and the addition thought is long gone.
Russ, get a good contractor and knock out the major reno’s all at once. its a harder hit the bank account up front but it might be a better stress wise.
many people like to take vacations during. I couldn’t do that, i need to micro manage the contractor/trades and would hate to be into day two of my vacation and get a phone call from 1000 miles away saying “umm we ran into a problem structural/mold/lead/asbestos/gremlins”
“Might make sense to rent an apartment during construction.”
Yes. You will want to do this. Will shave at least a week off of the project time, too, as they can leave everything a total disaster over weekends, instead of cleaning up for you to be at home, can turn off all of the water and leave it off over night, etc etc.
You will remain more sane, and healthier, not breathing any of the construction debris (other than when you stop by twice a day).
The correct question to ask is: will liberal policies doom Chicago and Illinois? The population of Chicago is declining and the population of the state is also declining. Could it be because it is so damn expensive to live here? To operate a small business here? More and more Americans are leaving the Midwest and the Northeast and moving to the South and the Southwest. That is a huge migratory pattern.
WTF??? The question on the table is:
“Will Demographics Doom the Suburban Housing Markets?”
The answer is – no – we are all going higher!!!
e.g. Lake Forest…
Lake Forest SFH on market: 322
Lake Forest SFH >$2MM: 72
Lake Forest $2MM SFH Market time >180: 38
Lake Forest population (2010 census): 19,375 (-3.4% since 2000)
Lake Forest total housing units (2000 census): 7,001
Seems ugly, wonder if the market numbers have changed that much over the years. Seems like a ton. Honestly, I’m surprised how much $2 million gets you in some of these communities, but I think that a lot of them have a generational shift coming up. Most are not decorated or furnished in a way that is going to make sense to the next generation of rich people in their 40s with kids. Probably a lot of interesting factors at play – some property will be passed down to the next generation in some way, but it seems they are likely to hit the open market in a relatively great number over the next decade or so. Fascinating, too, to look at some of these properties on the market – many are back since a sale in the downturn, often for 25% or more higher, so the speculator is active. Throw in some CEO and similar relos with someone else picking up the tab and you have to wonder where it’s going. Probably great money to be made if you can give an ugly one a makeover and get her a date to the prom with a nice hedge fundie or banker with kids or a pregnant wife, but also really easy to get caught with 2 million sunk into a dog if the market turns.
the article is laughable……you can’t buy a decent house in oak brook for under 2million. In my neighborhood, they are tearing down 1.5 million dollar houses and building 4-5 million dollar houses. Hinsdale is also ridiculous. There are PLENTY of people to fill these high end suburbs…….
on the other hand, my houses in st. charles and elburn are NOT doing well. You can get a GREAT house there for 600,000.
Bottom line – the handful of suburbs that are most sought after (Hinsdale, Oak Brook, Winnetka, Kenilworth, Lake forest) are going to be just fine. The 2nd tier suburbs (glencoe, northfield, highland park, burr ridge, clarendon hills, etc) – will also be ok. It’s the nice outer suburbs (st. charles, geneva, elburn, long grove, kildeer, etc) that are going to stagnate
why you gotta talk shit about long grove?
im not talking badly about it – but those are the suburbs that probably wont see a continued increase in prices
“the article is laughable……you can’t buy a decent house in oak brook for under 2million.”
They’re not talking about the price. They’re talking about demand.
Oak Brook has the third highest inventory in the suburbs after Lake Forest and Burr Ridge at 8.7 months. The “Barrington area” then follows at 8.2 months. I’m assuming that means Barrington, Barrington Hills, and North Barrington.
And these numbers are before the spring selling season. Unless sales really pick up quickly, it’s only going to get worse as more people list.
Younger buyers don’t want the big, older homes. Lifestyles have changed. Who wants to live in a 1980s home in Oak Brook with 7 bathrooms, all of which need to be remodeled and updated.
“im not talking badly about it – but those are the suburbs that probably wont see a continued increase in prices”
Anywhere with an older housing stock is probably in for some pain. Lots of older owners in Long Grove.
“many people like to take vacations during. I couldn’t do that, i need to micro manage the contractor/trades and would hate to be into day two of my vacation and get a phone call from 1000 miles away saying “umm we ran into a problem structural/mold/lead/asbestos/gremlins””
or come home and find that they didn’t do things they way they said they would and now the headache/cost involved if it is even possible to remedy.
“Younger buyers don’t want the big, older homes. Lifestyles have changed. Who wants to live in a 1980s home in Oak Brook with 7 bathrooms, all of which need to be remodeled and updated.”
Unless you’re 60 years old and define Younger different than most, younger buyers aren’t the ones looking to move into OB, Hinsdale, etc for starters because they cant afford it (And never could)
The difference IMO is that the pool of 40+ YO that would have been the target demographic looking to move into OB has softened partially by preference but IMO more to to affordability
Who the fly F@#$%#^&*%$#^**%$#)(*&^!%@$!(&@$@ cares about the Suburbs?
seriously its the same convo, and the gist of all the comments pretty much say living in the burbs is settling and i would rather live in the city.
Oakbrook is not a town, its a showcase if reality tv mentality. you seriously need to be a few bricks short of a load to be apart of that “community”.
Take Lake forest, Barrington (area), St Charles. NOBODY goes there as a destination, unless visiting family. EVERYONE goes to the city for a multitude of destinations.
its like a great bulls player once said “nobody on purpose goes to Cleveland, i have never heard anyone say i am going to Cleveland on vacation.”
replace cleveland with and chicago suburb name.
I took a random sampling of those $2M+ estates in Lake Forest, and 2/3rds of them were built during the 90’s and later and the rest are prewar. The newer homes are just ugly, huge and inefficient; and the older homes have, being nice, ‘character’ which is certainly not for everyone. It’s not unsurprising that these homes were built for a different generation of people more interested in country clubs, golfing and the faux east coast ‘gatsby’ lifestyle. A former bosses’ once told me that his wealthy family moved to the lake forest during the great depression to get away from the riff raff and poverty of the city, and they built a country estate out there with land.
Taken one step further, Lake Forest, Lake Bluff are really just small bedroom communities on the north shore that got swallowed up by the suburbs. nobody says the towns directly north of Lake Bluff are suburbs (north chicago, zion, waukeagan) and these towns are so far north that it’s a stretch to call them suburbs. They’re suburbs like ST Charles and elburn are suburbs – they’re actually small towns swallowed by the exurbs.
I’m not saying that Lake Forest/Bluff will go into a downward spiral, but the moneyed class in chicago isn’t as interested in this lifestyle as much anymore now that the city has blossomed into what it is today. Going forward, it’s just going to be a slow and gradual decline as lifestyles and housing preferences change.
as of this posting, the racist rant above only has a -10 from 24 votes!?
that says a lot about cc’ers…
it says nothing about cc’ers except that he probably up voted himself 10x on different devices.
I always get more negative votes than any racist rant on crib chatter.
I look at the thumbs up thingy like the suburbs. Who F****ing cares about either of them.
I am more frustrated trying to remember my roman numerals trying to leave a reply here 😉
Yet you post on both topics?
The Mayor of Point Break got you there, Groove.
“Yet you post on both topics?”
What else am i supposed to do to kill time between the hours of 8am to 4pm?
“Yet you post on both topics?”
What else am i supposed to do to kill time between the hours of 8am to 4pm?
errrr….fix your email? 😛
“errrr….fix your email”
tried creating a new one but it kept asking for a phone number to text a secret decoder message too.
i will try the old one a few more times.
Lake Forest began as a second-home location. I sometimes wonder why CITY people buy second homes in locales in WI, MI, and IN that are hours away. Couldn’t someone just find a nice large wooded property somewhere up in Lake County, IL that backs up to forest preserves or whatever? You could still enjoy weekends in quiet and nature doing that without the hours long drives.
Jack: Quit your whining. You need education, that’s what can help you. There was nothing in my earlier post that was untrue. Only southbound tried to debunk it, but he failed miserably, because prior waves of immigration from Europe were more productive and assimilating and the example of the decline of St Frances of Rome parish proves it.
“Couldn’t someone just find a nice large wooded property somewhere up in Lake County, IL that backs up to forest preserves or whatever? You could still enjoy weekends in quiet and nature doing that without the hours long drives.”
LAKE HOMES. Waterfront property in Lake County is ridiculously expensive, and the water front property that’s actually ‘affordable’ is on the Chain, and god forbid, that’s the farthest thing from a nice lake house as you can imagine.
I’ve spent a lot of time thinking about the whole lake house equation, and i’ve come to the conclusion that it’s better to just rent it for a week at a time during the summer/winter when you need it. Spending a summer in WI/IN with the family and then commuting everyday (or as the breadwinner, only going up on weekends) sounds like a great lifestyle, and people routinely try it, but it just ends up being a PITA. Especially on weekends when you want to see friends and go to local parties, you’re up in the middle of nowhere where you know no one and have little social contacts. And don’t get me started on maintenance/upkeep. Who wants to go grocery shopping and clean/yard work every weekend?
Here is a quick example: https://www.redfin.com/IL/McHenry/1016-S-Lily-Lake-Rd-60051/home/17824617
“pond is part of property”. It’s also almost across the street from Morraine Hills state park.
HH,
That is one ugly house…… This one is much nicer imho.
http://www.zillow.com/savedhomes/for_sale/4764046_zpid/any_days/1_pnd/42.672339,-87.331696,40.955011,-90.347443_rect/8_zm/1_rs/1_fr/?3col=true
“This one is much nicer imho”
https://www.redfin.com/IL/McHenry/28774-Manitoba-Trl-60051/home/17744479
Been trying to sell since *06*, when they wanted $739,000 for it.
Assesor’s value on it is about $315k.
oilc: thanks. That’s what I was thinking. Nice little place.
It is a nice place, but not at all what I think of when I think ‘lake house’. Sure the house itself is nice but it’s in mchenry and most residents up there are year round. And the chain of lakes during the summer is as crowded as six flags on a warm saturday afternoon. There’s just something about being up north, and this isn’t quite far enough north.
This sale below is a bit old, but a nice one
http://www.zillow.com/homes/for_sale/Eagle-River-WI/105134204_zpid/45024_rid/any_days/45.910212,-89.133561,45.884975,-89.189351_rect/14_zm/1_rs/
http://www.zillow.com/homes/for_sale/Eagle-River-WI/2117990987_zpid/45024_rid/any_days/45.951299,-89.165769,45.90085,-89.277349_rect/13_zm/1_rs/
this needs a little updating, but as the description claims ” This is what lakefront living is all about.”
I wholeheartedly agree.
http://www.zillow.com/homes/for_sale/Minocqua-WI/105044326_zpid/5989_rid/any_days/globalrelevanceex_sort/45.875474,-89.682233,45.850221,-89.738023_rect/14_zm/1_rs/
Imagine a cribchatter summer get together around the fire pit at this gem on lake minocqua!
Jenny, this one is perfect for you and your rich husband when you find him.
3 bedrooms but 5! bathrooms! Perfect!
http://www.zillow.com/homes/for_sale/Minocqua-WI/2102026921_zpid/5989_rid/any_days/globalrelevanceex_sort/45.871156,-89.730803,45.85853,-89.758698_rect/15_zm/1_rs/
[Eagle River]
Only if I had a plane. Or could actually stay up there for weeks at a time.
Palwaukee aka Chicago Executive is only a 20 minute drive from my house. No TSA, no security, just get in and fly. Be in eagle river in 2 hours or less.
Eagle river is only 6 hours away. A lot of people have nice places up there. Not sure where they all come from, ’tis 4.5 minimum from anywhere with any money, and MN money goes even farther north.
“Eagle river is only 6 hours away.”
“only”
http://maxairaviation.com/popular-charter-trips/chicagoeagle-river-shuttle/
$280 to save ~4.5 hours.
“$280 to save ~4.5 hours”
I believe that’s one way, then there’s the baggage limits.
The north woods are nice but too far of a drive to make it a weekend summerhouse.
“Eagle river is only 6 hours away. A lot of people have nice places up there. Not sure where they all come from, ’tis 4.5 minimum from anywhere with any money, and MN money goes even farther north.”
Mpls/StP money in Wisconsin hangs in Hayward, LCO, Chetek. Park Falls is about as far East on 70 as they go. Anything over 3 hrs is viewed as unacceptable
Then does anyone know where the vilas county $ comes from? Is it green bay, milwaukee, madison money?
It’s from all of those places, a fair number of retirees from all over the state as well. Many properties are hand-me-downs Some Northshore Chicago people as well, especially the upper bracket.
Agreed w/Sid.
A fair amount of Milwaukee money is in the Cable area. The SC Johnson folks pretty much own Lake Owen
you guys need friends with rich parents that have nice houses in Lake Geneva
that place is the best fast getaway from Chicago, although the dining there isn’t so hot
Lake Geneva?????
Like 15 years ago it was nice. Now its just overcrowded and lost its sleepy small town feel and is commercialized.
a few places we loved in the WI, they once had a strip of local stores and they all closed at 5pm and you would spend like an hour buying one thing because you would be chatting up the owner and a local in there. Now the have a potbelly/chipotle/panera bread in the main strip. Totally killed the vibe.
Is the state bird of wisconsin the mosquito?
Lake Geneva?
Like 15 years ago it was nice. Now its just overcrowded and lost its sleepy small town feel and is commercialized.
a few places we loved in the WI, they once had a strip of local stores and they all closed at 5pm and you would spend like an hour buying one thing because you would be chatting up the owner and a local in there. Now the have a potbelly/chipotle/panera bread in the main strip. Totally killed the vibe.
Is the state bird of wisconsin the mosquito??
“Is the state bird of wisconsin the mosquito?”
No dude, it’s the horse and sand flies; followed closely by the lyme disease carrying deer tick.
I was in the northwoods this summer and I saw some bike trails but the reviews said the trails were a bit overgrown. I was like yeah, not many mountain bike trails up here where there are bears everywhere. Also, i looked up some lyme disease stats, and nearly all the reported cases in the county were males aged 25-45 who had spent time in wooded areas. So basically me – or a similarly situated guy hunting, atving or mountain biking. The last night I need is some tick giving me lyme disease as i come upon some bear deep in the woods on an overgrown bike trail!
Flying to the Eagle River, as in, to EGE (or East Vail or Gypsum, depending on how one views the world)?
“The last night I need is some tick giving me lyme disease as i come upon some bear deep in the woods on an overgrown bike trail!”
I think the lyme disease is the least of your worries:
http://www.express.co.uk/entertainment/films/623481/leonardo-dicaprio-mounted-raped-by-bear-revenant
Northwoods of WI is too far. The drive is punishing. Anything north of East Troy, forget it.
How about the intersection of Lake Cook Rd. and Quentin (near Inverness). There are 3 massive forest preserves and nearby golf courses.
“Northwoods of WI is too far. The drive is punishing. Anything north of East Troy, forget it.”
It’s like God’s Country up there. The drive is OK as long as you’re going for a week or so.
“How about the intersection of Lake Cook Rd. and Quentin (near Inverness). There are 3 massive forest preserves and nearby golf courses.”
and now camping is available too!!
http://fpdcc.com/camping/camp-reinberg/
I can handle a bear. I carry a loaded 45 every time I walk into the woods to handle the fauna and creepers. IT’s the lyme disease I can’t see, that’s what I fear.
The better have bagels at the camp reinberg “Snack and Concession Shop/
Dining Hall”
I once went “bird hunting” in season at Chequamegon Natl. Forest west of Minoqua and east of Park Falls. I can tell everyone that there is no wildlife there whatsoever. No birds, no squirrels, you can kick over a log and not even see an insect or a worm. It’s a literal dead zone. There’s no food up there, so why would any bird be hanging out there? There is more wildlife in Chicago, in the city, than up there. When I was buying some gear at the Minoqua Walmart the guy almost laughed when I told him we were hoping to get some pheasant. He said “there ain’t no pheasant around here”. So you walk around these snowmobile trails deep into the forest and there is no wildlife, nada, nothing.
Go there to snowmobile, maybe fish, and shoot beercans with shotguns. That’s about it. It is nice up there, just too far.
“I carry a loaded 45 every time I walk into the woods to handle the fauna and creepers.”
You mean, “I carry a loaded 45, period”, no? Lake County is pretty rough.
“I once went “bird hunting” in season at Chequamegon Natl. Forest west of Minoqua and east of Park Falls. I can tell everyone that there is no wildlife there whatsoever. No birds, no squirrels, you can kick over a log and not even see an insect or a worm. It’s a literal dead zone. There’s no food up there, so why would any bird be hanging out there? There is more wildlife in Chicago, in the city, than up there. When I was buying some gear at the Minoqua Walmart the guy almost laughed when I told him we were hoping to get some pheasant. He said “there ain’t no pheasant around here”. So you walk around these snowmobile trails deep into the forest and there is no wildlife, nada, nothing.
Go there to snowmobile, maybe fish, and shoot beercans with shotguns. That’s about it. It is nice up there, just too far.”
As someone that has a cabin just outside of the forest, there’s plenty of wildlife, just not pheasant. A ton of Turkey & Grouse. Deer population is low due to the Bear and Wolf population (way too many of both) and elk in Clam Lake
But you and HD should keep thinking along those lines and stay away.
I can handle a bear. I carry a loaded 45 every time I walk into the woods to handle the fauna and creepers. IT’s the lyme disease I can’t see, that’s what I fear.
LOFL
Im throwing the Bullshit card here. I could see Jenny strapping a .45 to a thigh rig and peeing in the woods before I could see HD carrying a firearm
Ugh. Can’t you just Instacart, like everyone else? Why do you enjoy taking pleasure in murdering defenseless animals?
“I can handle a bear. I carry a loaded 45 every time I walk into the woods”
You must not have seen The Revenant.
“A ton of Turkey & Grouse”
A ton? during the season which is Oct-Nov? I call BS. The leaves are off the trees, the forest is bare & dead. No aminals, no food, nothing. There’s nothing for these turkeys to feed on. I’d guess there might be some lurking around farmland areas.
Wild Turkeys generally find their food in these open areas. They like to eat plants and small animals wherever they are able to find them. Consisting of this diet is also: insects, acorns, seeds, and a delicious variety of fruits.
So there are no Oak trees in the Chequamegon? Interesting
I guess the herd I see coming thru my property is an optical illusion…
I’ve seen plenty of grouse from Loretta/Draper up the Deadhorse to Clam Lake. Guessing its operator error
“..The leaves are off the trees the forest is bare & dead…” I believe HH’s remembering what he saw while parking at Dan Ryan Woods not what’s seen in north central Wisconsin, where balsam fir, Norway, spruce, jack & white pine are the predominate species, all species with foilage and cones (food source alert) which are very alive in fall and winter
My anecdote for the week:
My River North 1/1 hit this MLS Tuesday afternoon, by Friday morning we had 3 offers. We had all 3 give highest and best and ultimately resulted in 3 offers at or above list. So after 72 hours on the market, we are under contract for above ask.
I am glad I am not in the market for a condo right now (we’re renting). Apparently its super cray cray out there.
“My River North 1/1 hit this MLS Tuesday afternoon, by Friday morning we had 3 offers. We had all 3 give highest and best and ultimately resulted in 3 offers at or above list. So after 72 hours on the market, we are under contract for above ask.”
Thanks for checking in Fred.
In the GZ, this is the hottest market I’ve seen since the bubble. The mortgage rates are near the lows we saw in 2012 (2012 low was 3.31% on the 30-year fixed and right now it’s at around 3.65%.) That, combined with a strong job market, is spurring buyers. Also, rents are so out of control, if you have the down payment and know you’re going to live there for a while, it makes no sense not to buy. It’s cheaper than renting.
So if you list a property at a decent price and it is mostly upgraded and shows okay, it will have offers within 24-48 hours. A property that is sitting there for even a week probably means it is overpriced.
Buyers are desperate. No properties should be sitting on the market in the GZ.
In the suburbs, it seems a bit different. For some reason, it’s much slower even at the lower price points. This could be good news for some parts of the GZ though. Many long time condo owners want to sell and move to the suburbs due to having a larger family/schools. If they can buy in the burbs then they can list in the city. It should free up some inventory.