Archive for March 2012

River North rent-o-rama - one-bedrooms with balconies

YoChicago’s at-a-glance apartment list and map makes it hyper-easy to check what’s available for rent in River North and other Near North locations. If that’s not your destination, YoChicago has more at-a-glance lists. If you’d rather turn your apartment hunt into a sorry safari of misinformation, head for Craigslist or one of Chicago’s bait-and-switch apartment... Read more »

Chicago home prices fall for fifth consecutive month

It’s the last Tuesday of the month, a/k/a Case-Shiller Tuesday, and the results are in for January home price trends. The seasonally-adjusted index for metro-area Chicago single-family homes dropped 0.35% from the previous month and dropped year-over-year by 6.65%. This places the current index just below price levels prevailing in February of 2001. The seasonally-adjusted... Read more »

How to deal with Chicago rental services

Dealing with Chicago rental services is an experience that’s often frustrating at best and an expensive, life-disrupting nightmare at worst. I recently sat with Tim Brent, the owner of Chicago Apartments and Condos (CAC) to glean some advice for renters about how to approach working with a rental service to help ensure that they have... Read more »

Neighborhoods for the rest of us, Kelvyn Park

When the Kelvyn Park neighborhood draws attention, it’s typically because of gang activity – and there is that. Kelvyn Park also offers an attractive physical environment. The streets have broad, well-tended parkways and mature trees. Wrightwood Ave, between Kostner Ave and Cicero Ave, is a lush boulevard. The eight and one-half acre Kelvyn Park has... Read more »

Is this Chicago's best townhome roof deck?

When the weather’s as gorgeous as it’s been you’ll want to start your home tours up on the roof, especially if the roof directly overlooks the Chicago River in Streeterville. If there’s a better townhome roof deck than the one at 439 E North Water St, I haven’t seen it, and I doubt that one... Read more »

Lock in low housing costs in Morgan Park

If you want to lock in extremely low housing costs in a decent area you might consider a close look at parts of Morgan Park. A 2-bedroom, 2-bath condo at 2014 W 111th St, a half block from the Metra station pictured above, is being offered for $29,500 under the Fannie Mae HomePath program, an... Read more »

Are condo-to-rental conversions on the horizon?

Recent sale prices of two new apartment towers raise the question of whether owners in some newer condo buildings could realize higher prices from a rental conversion of their entire building than from the sale of their units individually as condos. MetLife is reported to have paid $483,000 a unit or a total of $120.2... Read more »

South Side lots up for sealed bid auction

The City’s Department of Housing and Economic Development announced that it is accepting sealed bids for four parcels of vacant land on the South Side. Minimum bid prices range from $1,920 to $34,800, and bids are due by April 13. The highest-priced parcel is 4515 S Greenwood, a 55 x 198 lot zoned RT-4. It’s... Read more »

Video tours of three new construction homes near Smith Park

Three new single-family homes are nearing completion a short distance from each other and from Smith Park, and you can see all three in video walkthroughs with Izabela Sloma of Sergio & Banks. The home in the above video, 658 N Oakley Ave, is a 4-bedroom, 3 ½ bath on a corner lot. The builder... Read more »

Chicago home sales, prices decline in January

According to CoreLogic’s March MarketPulse report (PDF), the Chicago-Joliet-Naperville CBSA saw 3,622 home sales in January of 2012, down 10.4% from the previous year. REO sales (1,267) and short sales (668) accounted for 53.4% of all January sales. Mean days on market for active properties increased by 22.4%, while the mean days on market for... Read more »