Archive for September 2016

Vince Vaughn Closes On The Sale Of The Remaining 1/3 Of His Palmolive Condo

Vince Vaughn Closes On The Sale Of The Remaining 1/3 Of His Palmolive Condo
A couple of weeks ago I posted on the sale of the top 2 floors of Vince Vaughn’s condo in the Palmolive Building for $8 MM. 9 days later he closed on the bottom floor for $4.1 MM vs. the list price of $4.2 MM. This concludes what has been a 5 year ordeal for... Read more »

Slim Chance Of A Housing Bubble In The Chicago Area

Slim Chance Of A Housing Bubble In The Chicago Area
I was tempted to say that there is no chance of the Chicago area currently being in a bubble but the fact is that just about anything is possible so I settled for “slim chance”. As Robert Shiller (of Case Shiller Home Price Index fame) said in a recent interview “There’s always reason to worry... Read more »

Case Shiller: Chicago Home Prices Best Gain In Two Years Still Weak

Case Shiller: Chicago Home Prices Best Gain In Two Years Still Weak
This morning’s release of of the July S&P CoreLogic Case Shiller home price index for the nation and 20 metro areas is a classic good news/ bad news story. I’ll give you the good news first: The Case Shiller Chicago home price index was up 3.7% from a year ago, which is the strongest year... Read more »
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Chicago Housing Affordability Vs. The Suburbs

Chicago Housing Affordability Vs. The Suburbs
A couple of weeks ago Coldwell Banker came out with their annual Home Listing Report which attempts to rank over 2000 real estate markets by their housing affordability using a rather crude measure: the average price of 4 bedroom, 2 bath single family homes. In general the results of their housing affordability ranking make sense... Read more »

Vince Vaughn Finally Closes On The Sale Of 2/3 Of His Palmolive Condo

Vince Vaughn Finally Closes On The Sale Of 2/3 Of His Palmolive Condo
Just a quick update on the trials and tribulations of Vince Vaughn trying to divest himself of his Chicago bachelor pad in the Palmolive Building. I’ve written about this before and it’s been going on now since 2011. My last post on the subject was when they were finally successful in getting his penthouse condo... Read more »

Chicago Foreclosure Activity Blipped Up In August

Chicago Foreclosure Activity Blipped Up In August
I don’t think that RealtyTrac is going to come out with their usual monthly Foreclosure Market Report (for August) this month. They often have more interesting things to write about – especially since the foreclosure story has been rather boring for a while. Foreclosure activity has basically flattened out and doesn’t change that much from... Read more »
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1927 W Erie Record Teardown Price In Chicago's East/ Ukrainian Village

1927 W Erie Record Teardown Price In Chicago's East/ Ukrainian Village
I’ve written before on the soaring land values in Chicago’s East Village and Ukrainian Village. One year ago the highest price paid for a teardown was at 1929 W Erie, which went for $460,000. The 5 bedroom, 3 1/2 bath Noah Properties home built on that lot sold for $1.3 MM in April. Now, one... Read more »

Chicago Real Estate Market Update: Nice Recovery In August

Chicago Real Estate Market Update: Nice Recovery In August
Well, August wasn’t exactly a breakout month in home sales but the Chicago real estate market did recover nicely from its abysmal performance in July. August closings did exceed last year by 5.4% but in about 2 weeks the Illinois Association of Realtors will report it as only a 2.6% increase. In the graph below... Read more »

Chicago Home Construction: How They Build Waterproof Basements

Chicago Home Construction: How They Build Waterproof Basements
Despite the title of this blog post I don’t think there is any such thing as a waterproof basement – only more and less waterproof basements. The reality is that water always goes where it is most welcome (kinda like money) – from wet to dry and from high to low. If there is even... Read more »
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Home Price Forecast: Greater Optimism Among Experts

Home Price Forecast: Greater Optimism Among Experts
A couple of weeks ago Zillow released their Third Quarter Home Price Expectations Survey results. The survey of 100 housing experts is prepared by Pulsenomics and this quarter the consensus national home price forecast is yet again a bit more optimistic than it was the previous quarter. Last quarter they were predicting 4.0% appreciation in... Read more »