The Chicago Real Estate Local

2007-2011 Lincoln Park "two bedrooms" condo sales decline (non high-rise)

noreply@blogger.com (Eric Rojas) — Sat, 28 Jan 2012 21:18:00 +0000

The number of two bedrooms condo unit sales declined from 451 in the year 2007 to 193 units sold last year in 2011. Will we see unit sales turn around in 2012?

We wrote in December that we were getting more requests now from condo buyers than in the past few years. Here's a look condo sales classified as "two bedrooms" in Lincoln Park for buildings 36 units or less.

193 "two bedrooms" condos closed on our MLS in Lincoln Park for the entire year of 2011. The median price was about $359,000. 42 of those condos sold for under $300,000.

The highest sale in 2011 was $675,000 for a new construction two beds, two baths with full roof deck at 2041 N Racine #3. The lowest sale was $143,000...a two beds, two baths "cash only" foreclosure offering at 1434 W Fullerton Unit A.

2010: 220 two bedrooms condos sold in 2010, median price of $394,000.
2009: 243 two bedrooms condos sold in 2009, median price of $390,000.
2008: 303 two bedrooms condos sold in 2008, median price of $420,000
2007: 451 two bedrooms condos sold in 2007, median price of $420,000

Lincoln Park 2520 new, large development closings will help the 2012 over-all sales numbers

We helped find some nice condo deals last year. Please contact us for buyer representation...condos, multi-units or houses. All photos and statistical analysis Eric Rojas, Realtor. Sales statistics gathered from MREDLLC.com
More Lincoln Park posts here!

Lincoln Park Open House: Huge FEE SIMPLE townhouse, small price $449,900

noreply@blogger.com (Eric Rojas) — Fri, 27 Jan 2012 17:13:00 +0000

1827 N Sheffield Unit B asking $449,900

Open House Sunday, January 29th

1PM to 3PM

3 beds, 3.5 baths, garage, patio, family room, laundry room, storage room, ready for roof deck, new kitchen and master bath, low taxes, no assessment!

Call Eric 773-510-1597

Watch the Video!

Chicago Local: A city that bikes!

noreply@blogger.com (Eric Rojas) — Fri, 27 Jan 2012 16:46:00 +0000

Do what you gotta do.

Update: A North Center "foreclosure flip" sells

noreply@blogger.com (Eric Rojas) — Thu, 26 Jan 2012 21:35:00 +0000

2035 W Hutchinson in North Center, Chicago

Last August we viewed this home at 2035 West Hutchinson in North Center, a luxury new construction home that went into foreclosure and suffered damage. Once listed for sale at over $1.2 million as new construction the price was dropped to $750,000 and quickly bought for $660,000 in the state of disrepair.

The new proud (and professional) owners repaired and finished the home and listed it for sale at $1.3 million... quickly securing an offer in about 30 days. Well done!

View more North Center information HERE!

Photos Eric Rojas, Realtor and Broker

Something unique: Roscoe Village row houses

noreply@blogger.com (Eric Rojas) — Wed, 25 Jan 2012 21:02:00 +0000

We stopped over near Damen and Newport in Roscoe Village last week for a client consultation. Afterwards, I snapped a few shots of the row houses on the 1900 block of West Newport Avenue. This block looks amazing in the summer! These are a great choice for those looking to preserve architecture and own in a distinct community. The homes themselves create community!

We saw the last recorded row house sale on the MLS in the past two years was 1922 W Newport Ave, a high-end remodeled home sold for $680K in 2010. The row homes are located in the very desirable Blue Ribbon winner Audubon School.

Notice the changing roof fascia from home to home

Photos Eric Rojas and Bob DePalma, Real Estate Brokers unless otherwise noted.

Sunny spring in Gold Coast...it sure feels like it!

noreply@blogger.com (Eric Rojas) — Wed, 25 Jan 2012 20:16:00 +0000

Photo: Bob DePalma "out about town".

The mild air this week has made for an early spring atmosphere around the city. Jackets and scarfs were good enough to stay comfortable. Gold Coast has been hopping on these "warm" days as we've shown properties around the neighborhood. Warm is anything over 32 degrees Fahrenheit!

Video! Inside Moss Design live/ work studio in Lake View

noreply@blogger.com (Eric Rojas) — Tue, 24 Jan 2012 21:41:00 +0000

We stopped by to visit Moss Design last week in their super cool live-work studio. Housed in a former City of Chicago industrial space on North Ravenswood Avenue in Lake View, Moss Design spins out residential and commercial renovations, additions, new builds, custom furniture and beyond.

Masters of reclaiming objects to incorporate into their finished projects, they've "re-used" the 1754 W Byron building for a unique live/ work space on the urban mixed use industrial stretch of the "Ravenswood Corridor".

Moss was recognized by the zippy and widely read Curbed Chicago as best renovation for their River North loft masterpiece.

Exterior of 1754 W Byron and Moss Design studio

Garden and deck

View from loft

Kitchen view from loft

Living and work space divider

Love this!

More Lake View posts HERE

Video! A Lincoln Park town house deal near Sheffield and Armitage

noreply@blogger.com (Eric Rojas) — Tue, 24 Jan 2012 16:53:00 +0000

Take a tour of 1827 N Sheffield Unit B in Lincoln Park. The updated town home has just about everything for a low asking price of $449,900, fee simple no assessment and low taxes.

You need to get inside to appreciate the space and finish level for the money at this location. We're excited to represent this property and think a buyer will really enjoy the home.

Click on the video or Lincoln Park tags below for more posts!

Brown Line at Armitage and Sheffield, Lincoln Park

Photos and video Eric Rojas and Bob DePalma, Real Estate Brokers and www.YoChicago.com

Photos! Inside the new Children's Memorial Hospital in Streeterville

noreply@blogger.com (Eric Rojas) — Mon, 23 Jan 2012 21:51:00 +0000

The new lobby at Ann & Robert H. Lurie Children's Hospital of Chicago

My wife, a director at Children's Memorial Hospital, snapped a few interior photos of the new Ann & Robert H. Lurie Children's Hospital of Chicago. The new Streeterville building is almost complete with modern atrium and sky gardens! Children's will officially move out of Lincoln Park and into the Streeterville facility in June of this year.

More Streeterville and Children's posts!

New Flirty Girl Fitness brings Pole Dance, 50 classes to Lincoln Park

noreply@blogger.com (Eric Rojas) — Mon, 23 Jan 2012 21:10:00 +0000

At least we know what to expect from Zumba!

We passed the new Flirty Girl Fitness location on Halsted Street, Lincoln Park today. The store will be located in one of the more desirable boutique shopping and restaurants districts in the city. It also continues the boom of fitness and lifestyle outlets around the city. With classes labeled as "Pole Dance", "Video Vixen" and "Bikini Boot-camp" we should all look great in no time!

More Lincoln Park posts HERE!

Illinois Veterans and active duty: New mortgage program can help

noreply@blogger.com (Eric Rojas) — Mon, 23 Jan 2012 20:26:00 +0000

Long time associate and mortgage expert Steve Dunnett sent us news of the following mortgage program in Illinois. Before buying or re-financing, we always check with Steve!

Illinois has a great new program for Veterans, Active Military personnel, Reservists and Illinois National Guard members. Qualified buyers receive a $10,000 grant which is forgivable over a two year period and a mortgage rate that is typically below the market average. This can be combined with VA, FHA or Conventional financing.

The $10,000 can be used for closing costs and down payment. Although the program is designed for first time buyers Veterans are exempt and do not need to be first time buyers! There are income and purchase price limitations but they are very generous and change from county to county so call me so we can find out if you qualify.

Contact:
Stephen Dunnett, Loan Officer
NMLS ID: 755940
PH: 1-708-289-3408

For Sale: Spacious, attractive Lincoln Park town house $449,900

noreply@blogger.com (Eric Rojas) — Sun, 22 Jan 2012 23:47:00 +0000

Grand entry foyer and light filled staircase

1827 N Sheffield Unit B is a spacious, attractive three bedrooms town home at a really great price of $449,900. The home has all the must have features, a flexible layout for almost any need and private garage parking. Fee simple, no assessment and it's available for showings and sale now.

Features include:
Three (3) true bedrooms
Three (3) full and one (1)-half baths
Private garage off the walk-out terrace
Spacious top floor master suite with new double vanity bath
New cherry and granite kitchen opens to expansive living/dining room with fireplace
Big, warm separate family room with fireplace and wet bar
Separate laundry room and storage room
Walk-out terrace on main level and several outdoor spaces
Can build roof deck and access easily
Central air conditioning


Large living, dining and kitchen "great room"


Open newer kitchen to living and dining areas

Top floor, huge and bright master suite

Master shower with skylight

Newly renovated double vanity master bath

Large family room, wet bar and fireplace

Large second bedroom with terrace

Fantastic Lincoln Park location between Armitage restaurants and boutiques and the Clybourn/North shopping district. Two blocks to CTA Brown Line and a few blocks to the Apple store!

Call us for showings!

More Lincoln Park information, neighborhood and property tours HERE

Photos YoChicago.com

Great Scott! Recent $3.2 million Gold Coast sale getting spruce up

noreply@blogger.com (Eric Rojas) — Fri, 20 Jan 2012 22:08:00 +0000

55 East Scott in the Gold Coast sits on a great little block - almost hidden - near Lake Shore Drive. The home was renovated in the not-to-distant past and recently sold for $3.2 million in December of 2010.

Walking a client down Eat Scott, noticed a little work being done on the interior and exterior of the unique property since the sale.


Eastern exterior of 55 East Scott

You're in good company on the block. A new, modern luxury masterpiece was built and completed across the street over the last couple years.

All photos Eric Rojas, Realtor and Broker.

The Gospel at Spertus building

noreply@blogger.com (Eric Rojas) — Fri, 20 Jan 2012 21:08:00 +0000

We recently visited the the inspiring Spertus Building and Center for Jewish Learning and Culture.

Lobby at Spertus

The library at Spertus

What we were a little surprised to hear was a rocking Urban Village Church service on the second floor.

A peak at the Urban Village service in one of the Spertus auditoriums.

All photos Eric Rojas, Realtor and Broker

Roscoe Village happy house!

noreply@blogger.com (Eric Rojas) — Fri, 20 Jan 2012 05:55:00 +0000

I sometimes struggle to give my house some zip. Then, I'm at a meeting in Roscoe Village and see something as simple as colorful house numbers... very nice!

More Roscoe Village HERE

Luxury Lincoln Square house rises on Leland

noreply@blogger.com (Eric Rojas) — Fri, 20 Jan 2012 05:40:00 +0000

A large luxury home is being built quickly on the 2000 block of West Leland.

We've been, from time to time, pointing out the luxury housing "boom" in Lincoln Square. Wide lots (anything wider than 25 feet) are at a premium. When an original house on a wide sells -or passes to the next generation- it's likely a luxury $1.5 million house will be built. And they tend to sell fast at retail offering.

More Lincoln Square information, statistics and home tours HERE

These well-to-buyers are will have a well-to-do and welcome school option in Lycee Fracais just around the corner.

All photos Eric Rojas, Realtor and Broker.

Home Selling Tips: Four bedrooms, three baths and...PEZ dispensers!

noreply@blogger.com (Eric Rojas) — Thu, 19 Jan 2012 23:54:00 +0000

I once toured this $900,000 Roscoe Village home with buyer clients of ours. What do you think we remembered about the house?

Bingo!

When working with a client selling their home, we ask that they start packing up like they are moving. The less stuff in the house the better. You never know what will throw off a buyer...even PEZ

Paper Picasso at the Modern Wing

noreply@blogger.com (Eric Rojas) — Thu, 19 Jan 2012 05:25:00 +0000

Somebody made a couple impressive statues

We stopped in at the Modern Wing at The Art Institute of Chicago at last year's Open House Chicago. The classrooms are impressive... and they have some cool kids programs.

Views from the activity classrooms at the Modern Wing

All photos Eric Rojas, Realtor and Broker

Secret Gold Coast real estate: A hidden house hangs on

noreply@blogger.com (Eric Rojas) — Thu, 19 Jan 2012 05:01:00 +0000

Chicago still has some rather bizarre juxtaposed properties. I found this house near one of my super-secret free parking spots in a small cul-de-sac on 190 block of West Elm Street at Wells Street.

The home sits just west of the true Gold Coast neighborhood in the Near North community area and is surrounded by typical high-rises, parking garages and large storage facilities. The back of the LaSalle Street Church shown below is at the end of the block.

What is the story of this house? Can you imagine holding out in this location through the years of cut throat Chicago politicians and developers?

Lakewood Balmoral single family home sales

noreply@blogger.com (Eric Rojas) — Tue, 17 Jan 2012 02:54:00 +0000

The Lakewood Balmoral neighborhood in the Edgewater Community Area of Chicago is on the National Register of Historic Places. The "sub neighborhood" is bounded by Magnolia Avenue to the east, Wayne Avenue to the west, Foster Avenue to the south, and Bryn Mawr Avenue to the north.

Eight (8) single family homes were sold in Lakewood Balmoral in 2011 with a median price of about $750,000. 9 homes sold in 2010 with a median price of about $815,000.

The Highs: The highest MLS recorded sale price was 5511 N Lakewood- a 37 wide lot "complete gut renovation" house sold for $1,530,000 in the spring. The original home was sold for $750,000 before developer renovation and sale.
The Lows: The lowest MLS recorded sale price was 5219 N Magnolia at $585,000 for a nice little move-in ready home with some mechanical updates. It sits on a 37 wide lot, so their is plenty of room in the budget for major renovations if the owner should choose. It sold quickly in the beginning of the year and work may have been done since then. $585,000 for the lowest priced sale all year speak volumes for this location.
Distressed: There were no recorded distressed sales for the small neighborhood in 2011.

We never get tired of viewing these homes no matter the season. With the popular Andersonville retail strip to the west and the lakefront to the east, Lakewood Balmoral is a quiet, small and distinct community in between the bustle. Not many home become available each year...it is imperative to be educated on the market and ready to act.

All photos Eric Rojas, Realtor and Broker. All sales data pulled from MREDLLC.com (our MLS) and analyzed by Eric Rojas.

Lincoln Square two-flat sells, buyers not wasting any time

noreply@blogger.com (Eric Rojas) — Mon, 16 Jan 2012 23:42:00 +0000

A dumpster full of old material sits in front of a recently sold two-flat in Lincoln Square.The owners are wasting no time improving their investment.

I was out with buyers this past weekend and we had little compelling to look at this moment. However, we expect swift competition for well priced properties in 2012. Single family homes and two-flats have already sold quickly in January when either new to the market AND priced right or the priced was changed significantly to reflect market values. The only thing keeping sales numbers seasonably low in January is the fact that few list their properties in January.

Video: Multi-unit sales and prices (2 to 4 units) in North Center steady

noreply@blogger.com (Eric Rojas) — Fri, 13 Jan 2012 20:17:00 +0000

63 multi-unit buildings (2 to 4 units) sold in the North Center Community Area in 2011, only two more than in 2010. The median price was about even with 2010... about $450,000.

Here's a quick interior look at a North Center two flat sold at the beginning of this month. The property sits on a 37' wide lot...WHITE HOT for development and renovation in the Bell School district.

The Highs: 1830 W Addison sold for $734,500. This was a newer construction "investor owned" building with a very nice three level top unit and one separate basement unit.
The Lows: 2815 N Clybourn closed for $131,250 at foreclosure auction. The building is a squat two-flat on industrial Clybourn but will be a nice cash flow investment after repairs.
Distressed: Multi-units tend to have a higher percentage of short sale and foreclosure sales due to the investor driven "run up" prior to the financial crash of 2008. In North Center, at least 21% of multi-unit sales were either short sale or foreclosure.

View more North Center information and video HERE
All data gathered and analyzed by Eric Rojas Realtor and Broker from MREDLLC.com, all video and photos Eric Rojas. Commentary is experiential and anecdotal. Questions? Email ericrojas2@gmail.com

Another two-flat gut renovation on prestigious Giddings in Lincoln Square

noreply@blogger.com (Eric Rojas) — Thu, 12 Jan 2012 20:45:00 +0000

We'll have a another addition to tony West Giddings Street in Lincoln Square. I snapped a couple shots passing by the property and on to Giddings Plaza. This is a regular route of mine to the Brown Line at Western Avenue, or, a walk with the family to partake in the awesome Lincoln Square amenities.

2306 W Giddings will be the latest Lincoln Square single family home conversion

Permits were issued last November to convert the existing two-flat to a single family home, add a two-story addition, and build steel decks to the back of the property. I have not found a recent public record for a sale of the property on the MLS or a quick look at public records. The project could be a development by the current owner for their own home or for retail sale eventually.

If you like Lincoln Square festivities and a "village-like" feel to a city home, you can't beat this cul-de-sac location fronting Giddings Plaza.

Popular Giddings Plaza is just a half-block away in the background

In the past year, there has been a $1.6 million dollar single family home sale on the street and several homes bought for renovation purposes. Another new construction luxury home is currently marketed for $1.7 million and a duplex down condo for $399,000.

All photos and analysis Eric Rojas, Realtor and Broker unless otherwise noted. Check out more Lincoln Square posts here!

Move up buyer? Don't forget Bentley and Lamborghini Gold Coast

noreply@blogger.com (Eric Rojas) — Thu, 12 Jan 2012 19:45:00 +0000

Bob and I has a successful business year, so naturally we stopped over at Bentley Gold Coast.

Bob likes the blue one.

More Gold Coast posts here

North Center single family homes sales up 23%, median price up $50K

noreply@blogger.com (Eric Rojas) — Wed, 11 Jan 2012 19:54:00 +0000

One of the hottest and most exciting single family home markets in 2011 was North Center. From new construction on the high-end to little tear down shacks on the low-end and everything in between...homes were in great demand.

Sales: 177 single family homes sold in the North Center Community Area in 2011, up 23% over last year. The median price of about $800,000, a nice bump up from about $750,000 in 2010. Both sales and median price were up for the year... a rare combo for any segment of the real estate market.

View the interior of one of the North Center homes sold as a foreclosure this year.

The Highs: 3905 N Oakley sold for $1,775,000. The new construction custom built house sits on a 35 wide lot in Bell School district.
The Lows: 4117 N Western was sold at a foreclosure auction for $167,700. The home on busy Western had been renovated in the recent past.
Distressed:
22 homes (8% of sales) were sold as either foreclosure (banked owned, REO) or short-sale.