Archive for May 2012

Trump Tower Penthouse: Highest Residence In Western Hemisphere For $32,000,000

Trump Tower Penthouse: Highest Residence In Western Hemisphere For $32,000,000
This new listing for the 89th floor penthouse unit in the Trump Tower at 401 N Wabash appears to be the highest priced home in Chicago ever. Probably. I can’t be totally sure. But it is supposedly at the highest altitude in the city – or the Western Hemisphere for that matter. Unit PH89 A... Read more »

Chicago Home Prices Continue Their Decline In March

Chicago Home Prices Continue Their Decline In March
Despite the fact that home inventories in Chicago were already falling to record low levels  in the early part of the year homes that closed in the first quarter showed continued declines in prices. This according to today’s release of the Case Shiller home price index for the month of March, which actually includes data... Read more »

How Realtors Lie To Get Your Business

How Realtors Lie To Get Your Business
Every statistics class I’ve taken includes a healthy dose of how to lie with statistics. It’s a legendary part of the advertising industry that preys upon the typical consumer who just isn’t educated enough to see through all the BS. Well, the real estate industry is no exception to this long standing advertising tradition –... Read more »
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Oprah Winfrey To Lose At Least 50% On Her Chicago Condo

Oprah Winfrey To Lose At Least 50% On Her Chicago Condo
Not even Oprah Winfrey is immune from the aftermath of the burst housing bubble. Oprah just put her co-op at 199 E Lake Shore Drive, unit 6E on the market for $2.8 MM. That’s half the $5.6 MM she paid for it in August 2006, which was damn near the peak of the bubble, and... Read more »

Should The Government Be Bailing Out Underwater Homeowners?

Should The Government Be Bailing Out Underwater Homeowners?
For some time the Obama administration has been pushing a number of programs to help out homeowners whose mortgage balances are greater than the value of their homes. Recently the administration expanded a Fannie Mae/ Freddie Mac refinance program and in an effort to promote that program President Obama went to Reno, Nevada a little... Read more »

Chicago Foreclosure Activity Declining Again

Chicago Foreclosure Activity Declining Again
RealtyTrac released their April Foreclosure Market Report yesterday and it shows a continued decline in activity for the nation as a whole. Foreclosure activity in Chicago continues in a general decline for the third month in a row after trending upwards for 6 months. Declines were experienced across the board in default notices, bank repossessions... Read more »
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Maybe Chicago Rents Really Are Skyrocketing

Maybe Chicago Rents Really Are Skyrocketing
I don’t have a lot of first hand knowledge of the Chicago rental market because I pretty much focus on home sales and purchases. However, from what I do know about the rental market it sure looks like the Chicago market is hot – for landlords. First there’s the data. There have been many articles... Read more »

Another Playboy Mansion Condo Sold In Only 5 Days

Another Playboy Mansion Condo Sold In Only 5 Days
Not even 2 weeks ago I posted on the recent condo sales in the Playboy Mansion at 1340 N State Parkway in Chicago’s Near North Side. Unit 2 had just closed along with unit 1N going under contract on the same day. Now, just 10 days later, unit 1S has gone under contract after being... Read more »

Giannoulias (Broadway Bank) Home For Sale For $7.5 MM

Giannoulias (Broadway Bank) Home For Sale For $7.5 MM
You may have heard about the Giannoulias family’s Broadway Bank troubles. The bank was shut down in April of 2010 because of its portfolio of bad loans. Despite the writing on the wall the family took $70 MM in dividends from the bank in both 2007 and 2008. Alexi Giannoulias, the former Illinois treasurer and... Read more »
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Chicago Home Inventory Continues To Plunge To New Lows

If you’ve been trying to buy a home in Chicago lately you know it’s not easy. There’s not a lot to choose from and as soon as something hits the market with a reasonable price it’s gone. You’re not imagining it and I’m not making this up. I have the data to prove it. We... Read more »
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    Gary Lucido

    After 20 years in the corporate world and running an Internet company, Gary started Lucid Realty with his partner, Sari. The company provides full service, while discounting commissions for sellers and giving buyers rebates.

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