Near West Side

West Loop condo & townhouse average list prices

Click to See Entire Chart August 2, 2010

This past weekend some out-of-town buyers and I started our day of looking at condos and townhouses with a townhouse for sale in the West Loop. Current average list prices are shown below. West Loop studios have an average list price of $185,000. West Loop 1 and 2 bedroom condos and townhouses have an average Click to continue...

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 Tribune features Near West Side’s Fulton River District

Thumbnail image for Chicago Tribune features Near West Side’s Fulton River District January 8, 2010

Today’s Chicago Tribune had a nice article on the Fulton River District Neighborhood located in the Near West Side area of Chicago. The Fulton River District is bound by the Chicago River on the east, Interstate 90/94 on the west, Ohio Street feeder ramps on the north and Madison Street on the south. While the Click to continue...

Financing options for some new Chicago condos improving

October 5, 2009

Crain’s Chicago Business is reporting that some new condo developments in areas including River North, Lincoln Park, and the West Loop are offering low interest, low down payment financing to spur sales. Tightened financing for new condo developments has been holding back sales so the banks that financed the developers are now offering attractive financing 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...

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...

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...

West Loop’s 565 Quincy Condos

March 2, 2008

Yesterday a couple of buyers and I visited new condo development sales offices in Chicago. One of the new developments we visited was 565 Quincy (shown left) in the West Loop neighborhood. The developer is Belgravia Group. Erin Mandel, the sales representative, gave a good overview of the development which included an impressive multi-media presentation. Click to continue...

Randolph Place – 165 N. Canal, Chicago

June 14, 2007

University Village Neighborhood Map

May 29, 2007

Last week a couple and I checked out condos in the University Village Neighborhood in the Near West Side area of Chicago. There seems to be a lot of disagreement on the neighborhood’s borders. Some real estate websites describe the borders as Monroe and Roosevelt on the north and south with Halsted and Western on Click to continue...

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