Posts tagged "condos"

How "They" Measure The Square Footage Of Your Home

How "They" Measure The Square Footage Of Your Home
You would think that measuring the square footage of your home would be pretty straight forward – get out the tape measure, break the home up into rectangles, and add up the area of the rectangles. Seems logical right? But coming up with a square footage number is kind of like the old joke about... Read more »

Chicago Condos Not Sitting On Market As Long As We Thought

Chicago Condos Not Sitting On Market As Long As We Thought
When we did our bi-monthly update of market time data a couple of weeks ago for 2 – 3 bedroom condos in the city of Chicago I noticed a huge drop off in June, which I knew couldn’t be real. Eventually I figured out that this was due to a single event that occurred in... Read more »

Should Your Condo Association Be Limiting Rentals?

Should Your Condo Association Be Limiting Rentals?
As many would-be sellers face losing all the equity in their home and maybe even having to write a check at closing they often turn to renting their home out as a way to cover a portion of their expenses so they can move to a new home. The only problem is that when that... Read more »
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Fewer Condos To Choose From Could Support Prices

As I’ve mentioned before Chicago home sellers have become so frustrated with the record low home prices that many have just abandoned the idea of selling any time soon. They have either decided to stay put under less than ideal circumstances or they are becoming landlords – even if it means losing money every month.... Read more »

Near West Side's Coolest Condo: 4700 Square Feet For $899,000

I see a lot of condos and lofts and usually they all fall into one of 3 or 4 cookie cutter molds. However, occasionally I come across one that actually excites me. Such was the case on Thursday when I went with some clients to this very cool and very unique 4700 square foot condo... Read more »

Follow Up On The Mysterious Burnham Park Plaza Condos

Someone recently asked if there was any follow up on the weird goings on at the Burnham Park Plaza Condos at 40 E. 9th St. in the South Loop. I originally wrote about the apparent fraud and resulting short sales there back in April. The numbers were staggering and the story definitely deserves a follow... Read more »
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Sheridan Park (Uptown) Multi-Unit Open House Event This Sunday

As of this writing there are almost 100 2+ bedroom condos for sale in Uptown’s Sheridan Park neighborhood. And that’s a ton of homes on the market for an area of approximately 16 square blocks, given the buyer activity we’ve seen since the tax credit expired. Consequently, many of these condos are priced very aggressively... Read more »

Crain's Reports Downtown Apartment Rents And Occupancies Rising

I wanted to cover this last week but the Crain’s site was having technical difficulties. About a week ago Crain’s reported that rents and occupancy rates have been rising in apartments downtown for the first time in 2 years, which is unusual, given that unemployment is so high. However, the explanation offered in the article... Read more »

The Latest On The Chicago Spire

Earlier this week (yeah, I’ve been busy) Crain’s reported that Shelbourne Development Group, the developer of The Chicago Spire, has closed their sales center in The NBC Tower and will now be selling units in their own offices on Wacker Drive. It seems that Shelbourne owed their landlord about $316,000 in back rent and the... Read more »
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Crain's: Huge Reduction In Downtown Developer Condo Inventory

Yesterday Crain’s reported a huge decline in the inventory of unsold condos in downtown Chicago – half of what it was two years ago. What drove the decrease? Canceled projects and discounting. According to the article “Downtown builders sold 256 condos and townhomes in the first three months of the year, up from 148 in... Read more »
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    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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