Near South Side

Downtown Chicago condos for sale in 2nd quarter continue decline, average price rises

Thumbnail image for Downtown Chicago condos for sale in 2nd quarter continue decline, average price rises July 2, 2010

The number of condos listed for sale in downtown Chicago last quarter continued to decline from the 3 previous years. 5,877 downtown condos were for sale in April, May and June, down from 6,168 in 2nd quarter 2009, 6,750 in 2nd quarter 2008 and 7,002 in 2nd quarter 2007. The number of downtown condos for Click to continue...

Chicago Tribune reports on oversupply of downtown apartment rentals

Thumbnail image for Chicago Tribune reports on oversupply of downtown apartment rentals February 12, 2010

Today’s Chicago Tribune has a good article by Mary Ellen Podmolik on the deals available on downtown apartment rentals. According to the article, “A record 2,234 apartments will be added to downtown Chicago this year; increasing the supply of rental units at a time when inventory is already outstripping demand.” According to Appraisal Research Counselor’s Click to continue...

Chicago’s most walkable neighborhoods

Thumbnail image for Chicago’s most walkable neighborhoods November 11, 2009

Today’s Chicago Tribune included a list of the 10 most walkable neighborhoods in Chicago according to Walkscore.com. The list caught my attention since I like to walk, but also because some buyers I’m working with wrote me, “A sense of being in a city neighborhood – where we can walk to great food markets, restaurants, Click to continue...

Great time to buy a condo in downtown Chicago, if you’re careful

June 15, 2009

Last week at Baird & Warner’s “Out of the Office” networking event in Chicago for gay pride month, I talked with my friend, Scott, who’s been thinking of buying a condo in or near the Loop for a few years now. He asked me if I thought now was a good time to buy. There Click to continue...

Regional Economic Forecast 2009 Highlights 3 of 3

January 20, 2009

In part 2 of this blog post series I shared Lawrence Yun’s chart showing that the number of existing home sales have dropped back to 1998 levels. Buyers considering a new condo in downtown Chicago need to take a good look at Gail Lissner’s chart which I recreated below. This year 4700 new condos in Click to continue...

New Home Inspection Test for Granite Countertops

January 2, 2009

This year I will be recommending that my buyers perform a new test during their home inspection. While I recently visited the new condo of some of my buyers in the South Loop, they shared with me that they discovered after they moved in that their granite countertops weren’t properly sealed. Their kitchen countertops were Click to continue...

Why Real Estate Stats Can Be Misleading

November 25, 2008

In Sunday’s Chicago Tribune, real estate columnist Mary Umberger’s headline was “Near South Side homes selling, on average, for more than list price“. Mary reported Zip Realty’s finding that homes in the 60605 zip code had sold for an average of 106.4% of list price during the latest quarter! This is certainly the kind of Click to continue...

2 Bedroom Condo Prices Up in the Loop, NNS, NWS & NSS, But Sales Down

October 17, 2008

Today I started searching for a 2 bedroom condo in the Loop, Near North Side, Near West Side and Near South Side for a couple who will be relocating here from Colorado. Median sale prices for 2 bedroom condos in 3 of the 4 areas are up for the past 3 months compared to a Click to continue...

New Home Orientations are Challenging in the Dark!

September 4, 2008

Yesterday I attended a new home orientation at the Library Towers condo development in the South Loop. My buyers got their first opportunity to inspect their new condo and have a home inspector check it out as well. Unfortunately, several lights in the condo didn’t work so it was harder to spot imperfections. I normally Click to continue...

Life in Chicago’s High Rises May be Getting Friendlier

June 16, 2008

This morning’s SunTimes.com has a good article on LifeAt.com a new social networking site for high-rise dwellers. The site provides social networking within a building. Four Chicago high rises, 340 on the Park, 565 Quincy, Prairie District Lofts and 600 Lake Shore Drive are on LifeAt.com. Superior 110 will be added soon. Each building’s site Click to continue...

Balcony, Balcony, Where for Art Thou, Balcony?

May 24, 2008

Today I showed 3 bedroom condos in the River North, West Loop, South Loop and Loop. One of my buyers’ “must haves” is an outdoor space such as a balcony. What I’ve noticed in showing numerous condos with balconies is that the location of the balcony is often more important to buyers than the size Click to continue...

Chicago Tribune Reports “Record condo numbers to saturate downtown”

May 14, 2008

Today’s Chicago Tribune Business Section has a good article on the downtown condo market titled, “Record condo numbers to saturate downtown.” According to the article, nearly 6,000 condos are expected to come on the market this year. That compares with less than 4,800 last year. But don’t expect lower prices. Instead developers will probably offer Click to continue...

South Loop Prairie District Treasure: Marshall Field Jr. Mansion

July 15, 2007

One evening while walking in the Prairie District Neighborhood in the South Loop on my way to meet with a seller, I came upon a stunning collection of 19th century mansions. Walk along the 1900 south block of Prairie Avenue and you’ll feel like you’ve been transported back in time! One of the mansions shown Click to continue...

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