Posts tagged "Foreclosures"

A tale of two Uptown condo conversions

Five years ago we wrote about two Uptown condo conversions directly across the street from each other at 927 and 928 W Eastwood. We noted the similarities between the projects, which were being marketed at similar price points: It’s a close call on several fronts. Besides their location, on a cul-de-sac just a few blocks... Read more »

Chicago area foreclosures dip, mortgage delinquencies rise

According to newly released data from CoreLogic, June 2012 foreclosure rates in Chicago-Joliet-Naperville decreased over the same period last year. Per CoreLogic’s news release: The CoreLogic data reveals that the rate of Chicago-Joliet-Naperville area foreclosures among outstanding mortgage loans was 5.96 percent for the month of June 2012, a decrease of 0.13 percentage points compared... Read more »

Will condo values go up where drug dealers go down?

Unit 4N at 4441 S Indiana just came on the market for $79,900, in the Grand Boulevard neighborhood of Bronzeville. It seems an attractive price for a condo that sold for $250,000 in May of 2006, and that’s touted by the real estate agent as able to satisfy the “pickiest buyer.” The property has recently... Read more »

Buy 127 West Town lots at $13K apiece

Chicago Real Estate Daily reports that 4.67 acres of vacant land is available at Metro Place, a failed development on the Near West Side. The asking price is $1.65 million, and current zoning allows for development of an additional 127 homes. According to Crain’s: A venture led by Mr. McLean, president and CEO of Chicago-based... Read more »

$1.3 million price cut on new West Rogers Park home

Five years ago yesterday we posted a roundup of selected new construction projects. One of the developments was a single-family home at 3118 W Wallen priced “from $2.6 million.” The home was in a block of vacant land marketed as the Estates of Regent Park, most of which went through foreclosure and became bank-owned. The... Read more »

Are there great deals in North Kenwood?

Five year ago yesterday we briefly noted the 34-unit Drexel Commons condominiums. At the time, units were priced from the $350s to the $380s. Unit 3E, one of 8 units accessed from the courtyard building’s 4627 S Drexel address, sold in January of 2007 for $265,000. It went into foreclosure in April of 2009 and... Read more »

Irving Park condo goes from $400K to $50K in five years

Five years ago we reported that a development called The Terrace was offering 24 3-bedroom, 2 ½ bath condos in four 6-flats at 3917 – 3935 N Kedzie Ave in Irving Park. One building was said to be complete, and the others “in various stages of construction.” Six weeks later we wrote that “approximately 1,800... Read more »

RealtyTrac – Chicago metro foreclosures high and trending up

RealtyTrac just released its Q1 2012 Metropolitan Foreclosure Market Report, and it doesn’t contain good news for the Chicago-Naperville-Joliet metro area real estate market. Chicago ranked only 17th among the Top 20 metro areas in the US in overall foreclosure activity, defined as the percentage of homes in foreclosure (1 of every 107), but led... Read more »

Buyers take a beating on Bridgeport lofts

Five years ago Morgan Street Lofts in Bridgeport, had only 8 units remained available for sale. Five months later the developer, Anthony DeGrazia, was saying that the 60-unit project was 70% sold. Do the math. In December of 2008 Cole Taylor Bank filed a foreclosure proceeding involving the 17 units and 20 deeded parking spaces... Read more »

CoreLogic paints a bleak picture of Chicago foreclosures

CoreLogic, in a news release not yet updated to its news page, just announced its first national Foreclosure Report which provides monthly data on completed foreclosures, foreclosure inventory and 90+ delinquency rates. According to the report: Completed foreclosures for all of 2011 totaled 830,000 compared with 1.1 million in 2010. In December 2011 there was... Read more »