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Could you get a great foreclosure deal?
One of our wonderful buyers enjoying the urban views from her downtown Chicago foreclosure purchase.
Chicago Median Sales Price Data - Near North Side
| 8008 - CHI - Near North Side Median Sales Price Rolling 12 Months Attached & Detached Single-Family Properties |
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January Chicago Real Estate Artists Contracts
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Stronger Lure for Prospective Home Buyers
Owning Continues to Become More Affordable Relative to Renting
A great article by Nick Timiraos in Saturday's Wall Street Journal references several cities, including Chicago, where home ownership may be more afforable then renting. Excerpts :
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Home prices and mortgage rates have fallen so far that the monthly cost of owning a home is more affordable than at any point in the past 15 years and is less expensive than renting in a growing number of cities. Other cities where owning is now cheaper than renting include ... Las Vegas, Miami,... Chicago and Phoenix. Mortgage rates are a big reason why affordability continues to improve. In 1991, a $1,700 mortgage payment allowed a borrower to take out a $200,000 mortgage. Today, it gets that homeowner a $350,000 loan, a 77% increase in borrowing power |
Chicago Real Estate artists parters with Chicago's best lending experts which can help provide you the information to make your own rent vs. own decisions.
Read the full Wall Street Journal article here :
Happy Thanksgiving!
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10 great Lincoln Park, River North...
...and Loop Real Estate Opportunities under $200,000
Have a peek at these to opportunities priced below $200,000. This market presents some great homes that even surprise me!
#10)
MLS ID: 07945704
Price: $169,000 | Beds:1 | Full Baths:1 | Half Baths:0
Condo Fees: $390 | Year Built: 1984 | Taxes: $2,190.27 / Year
Sq. Ft.:700 | Acres: 0.0 | Lot Size: 0.0 sq. ft.
Property Type: Condo | Status: Active | Days On Market: ()
Listing Office: Rising Realty, LLC |
Description: ONE BEDROOM @THE GRAND OHIO. 9 1/2 FT CEILINGS, BLDG INCL GYM INDOOR POOL & JACUZZI! CORP OWNED PROPERTY. SOLD "AS IS" CONDITION. NO SURVEY OR DISCLOSURES. PROOF OF FUND/PRE APPROVAL MUST ACCOMPANY ALL OFFERS. ADDENDUM REQUIRED AFTER ACCEPTANCE. EARNEST MONEY MUST BE CERTIFIED FUNDS. ROOMS, LOT SIZE & DETAILS NOT GUARANTEED. BUYER RESPONSIBLE FOR ANY, ALL CITY LIENS/VIOLATIONS, CITY REPAIRS, ESCROWS IF ANY.
#9)
MLS ID: 07827198
Price: $168,000 | Beds:1 | Full Baths:1 | Half Baths:0
Condo Fees: $406 | Year Built: 1965 | Taxes: $1,300.00 / Year
Sq. Ft.:675 | Acres: 0.0 | Lot Size: 0.0 sq. ft.
Property Type: Condo | Status: Active | Days On Market: ()
Listing Office: Realty Executives Premiere
Description: In a sought-after Chicago condo development that offers quality construction, roomy units and the modern amenities and services you need to live in comfort and style in the big city.Come see this spacious studio/1 bedroom converter in a wonderful Sandburg Village neighborhood. All new electrical, north view with lots of windows, extra storage. Garage space is add'l $$/monthly. Great space, location and
MLS ID: 07821283
Price: $189,000 | Beds:1 | Full Baths:1 | Half Baths:0
Condo Fees: $120 | Year Built: 1890 | Taxes: $1,685.20 / Year
Sq. Ft.:0 | Acres: 0.0 | Lot Size: 0.0 sq. ft.
Property Type: Condo | Status: Active | Days On Market: ()
Listing Office: @properties
Description: MINT CONDITION 1BR CONDO ON A QUIET ST. GARDENER'S DELIGHT UNIT-LARGE DECK W/A SHARED, LANDSCAPED BACKYARD. NEW FURNACE & HDWD FLRS, CENTRAL A/C, IN-UNIT LAUNDRY, MARBLE KITCHEN & BATHRM FLRS, OPEN LAYOUT. ATTRACTIVE WALK-UP 3 UNIT BUILDING. VERY LOW HOA DUES + TAXES ($120/mo + 1,685/yr). UNOBSTRUCTED SOUTH + WEST LIGHT. PERMIT STREET PKG + EASY LEASED PKG NEARBY. CLOSE TO EVERYTHING - ZOO, LAKE, PARK, TRANS.
MLS ID: 07829029
Price: $189,000 | Beds:1 | Full Baths:1 | Half Baths:0
Condo Fees: $195 | Year Built: 0 | Taxes: $3,263.00 / Year
Sq. Ft.:900 | Acres: 0.0 | Lot Size: 0.0 sq. ft.
Property Type: Condo | Status: Active | Days On Market: ()
Listing Office: @properties
Description: Desireable Lincoln Park location just west of Lincoln Ave and a couple blocks from DePaul! This 2nd floor front facing 1 bedroom, 1 bath features a dining area, large bedroom, great closet space and a wood burning fireplace! One parking space included. Walking distance to the El and all the fine nightlife of Lincoln Ave right outside your door! MUST BE OWNER OCCUPIED 1 YEAR BEFORE LEASING IS ALLOWED.
MLS ID: 07945397
Price: $159,000 | Beds:1 | Full Baths:1 | Half Baths:0
Condo Fees: $407 | Year Built: 2002 | Taxes: $3,274.00 / Year
Sq. Ft.:0 | Acres: 0.0 | Lot Size: 0.0 sq. ft.
Property Type: Condo | Status: New | Days On Market: ()
Listing Office: RE/MAX City
Description: SHORT SALE...BARGAIN IN MILLENNIUM PARK BUILDING. FABULOUS LOCATION JUST STEP TO MILLENNIUM PARK, MAG MILE, RESTAURANTS, STORES. FULL AMENITY BUILDING WITH 24 HRS DOORMAN, FITNESS CENTER, SUNDECK, POOL-INDOOR & BUSINESS CENTER. SPACIOUS 1 BEDROOM UNIT, FLOOR TO CEILING WINDOWS, WASHER & DRYER IN UNIT, MODERN OPEN FLOOR PLAN. A GREAT PLACE TO CALL HOME!
MLS ID: 07919119
Price: $155,000 | Beds:1 | Full Baths:1 | Half Baths:0
Condo Fees: $630 | Year Built: 1957 | Taxes: $1,285.00 / Year
Sq. Ft.:900 | Acres: 0.0 | Lot Size: 0.0 sq. ft.
Property Type: Condo | Status: Active | Days On Market: ()
Listing Office: RE/MAX Premier Properties
Description: Gold Coast Beauty! Best Premier Tier in building!! Lake views & Oak Street Beach across street. On-site manager and Valet parking. 24/7 doorman. Hair Salon. Outstandng Rooftop sun deck, 13th flr, party room. Pet friendly. Coin laundry. lots of storage. Asmts include Heat, air conditioning, gas & Electric. Bus stop right at your door step. Walk to Mag Mile & all that the Gold Coast has to offer.
MLS ID: 07875097
Price: $169,900 | Beds:1 | Full Baths:1 | Half Baths:0
Condo Fees: $440 | Year Built: 1931 | Taxes: $0.00 / Year
Sq. Ft.:650 | Acres: 0.0 | Lot Size: 0.0 sq. ft.
Property Type: Condo | Status: Active | Days On Market: ()
Listing Office: Weichert Realtors-McKee Real Estate
Description: Beautiful Lincoln Park Condo in elegant building-Wrigley built. Lakefront location across from zoo and close to everything! Gourmet kitchen with granite, custom cabinetry and new SS appliances. Parquet floors, crown molding, extra large walk-in closet & breath-taking city views! Incredible rooftop deck! Fitness center, heat, gas, cable, internet incld. *POSSIBLE OWNER FINANCING OPTIONS AVAILABLE*
MLS ID: 07932956
Price: $159,000 | Beds:1 | Full Baths:1 | Half Baths:0
Condo Fees: $370 | Year Built: 1983 | Taxes: $2,923.25 / Year
Sq. Ft.:765 | Acres: 0.0 | Lot Size: 0.0 sq. ft.
Property Type: Condo | Status: Active | Days On Market: ()
Listing Office: iBid Realty, LLC.
Description: GREAT Location Just Steps from MAG MILE & FULL Amenity Building! SPACIOUS 1BR ,1BATH Unit w/TONS of Potential PLUS BALCONY! GARAGE Space INCLUDED. Sold As Is.
MLS ID: 07825056
Price: $129,900 | Beds:1 | Full Baths:1 | Half Baths:0
Condo Fees: $200 | Year Built: 0 | Taxes: $2,904.28 / Year
Sq. Ft.:750 | Acres: 0.0 | Lot Size: 0.0 sq. ft.
Property Type: Condo | Status: Active | Days On Market: ()
Listing Office: REO Plus LLC
Description: This is a great condo located near shopping, restaurants, and all forms of transportation. This unit is ready for all of your ideas. This property is a Homepath property approved for Homepath financing for as little as 3% down. The complex is managed by an active HOA. Sold as-is where-is. Information provide herein is not guaranteed. Buyer must occupy unit for 2 years prior to renting out to non-family members.
MLS ID: 07942441
Price: $165,000 | Beds:1 | Full Baths:1 | Half Baths:0
Condo Fees: $321 | Year Built: 1921 | Taxes: $3,501.42 / Year
Sq. Ft.:800 | Acres: 0.0 | Lot Size: 0.0 sq. ft.
Property Type: Condo | Status: Active | Days On Market: ()
Listing Office: @properties
Description: This oversized top floor, five room vintage condo is steps to Lincoln Park, Zoo, and Lake Michigan. Classic floor plan features foyer entrance, separate living and dining rooms, and king size bedroom. Unit features beautiful moldings, hardwood floors, in unit washer/dryer, charming B/W tile bath, galley kitchen and shared back deck. Radiant heat, storage and bike room included in assessments. Rental parking nearby.
Condo sales stall downtown in third quarter
(Crain's) — Downtown condominium developers looking for reasons to be optimistic didn't find many in the third quarter.
Downtown developers closed 229 sales in the quarter, up slightly from 196 in the second-quarter but down from 251 in the year-earlier period, according to a report from Appraisal Research Counselors, a Chicago-based consulting firm.
Psychology may be the biggest force working against condo developers as would-be buyers, worried about prices falling further, wait out the market. The eurozone crisis, contentious debt-reduction talks in Washington, D.C., and volatility in the stock market haven't helped, either.
“There's always the herd mentality in purchasing real estate,” said Gail Lissner, Appraisal Research vice-president. “Right now, there's a widespread reluctance to make the purchase, and renting becomes an easier decision.
Pricing continues to be an important factor in motivating those reluctant buyers, Ms. Lissner said. Once again, developers who cut prices were among the sales leaders in the third quarter....
Lincoln Park Foreclosure, Short Sale and Standard Sale Data
| Chicago Real Estate Artists spend a tremendous amount of time locating, researching and assisting buyers acquire the best foreclosure and short sale opportunities in Lincoln Park (60614). The below data summarizes average sales prices for all three types of sales categories in Lincoln Park during the pat three years. | |
| Average Sales Price for 8007 - CHI - Lincoln Park | |
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mred.stats.10kresearch.com |
| If you would like customized Chicago Real Estate reports specific to your property requirements, please submit a report request here. | |
Lincoln Park Townhomes to make way for potential mega mansion
Lincoln Park Townhomes to make way for future Mega Mansion
List Price: $2.85 million
Sale Price: $2.55 million
The Property:Four 1980s townhouses in Lincoln Park have been sold to a developer that hopes to build a single megamansion on the site. “This couldn’t happen in any other location,” says Mark Lale, the Urban Real Estate agent who represented the three sellers (one of them owned two of the townhouses.) “They’re sitting on a strip of land that is right in the middle of this huge conglomeration of wealthy people. It’s very attractive to someone who wants to build a $7 million house.”
Luxurious Single family rehabs in Lincoln Park are not unusual, however to find numerous owners to agree to sell 4 townhome parcels can be difficult. Bravo to all parties involved, as well as Dennis Rodkin for his excellent real estate reporting on ChicagoMag.
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