Archive for March 2011

Single-family rentals in short supply in Oak Park and River Forest

If you’re looking for a 4-bedroom or larger home to rent in Oak Park or River Forest, you may find yourself in a state of frustration. There are only about half a dozen homes available, and few (if any) of them will light up your eyes with delight. The highest-priced current offering is a 4-bedroom,... Read more »

Apartment complex says "make us an offer"

The featured ad at for Aurora’s Orchard Village says “Don’t like our prices? Make us an offer.” The analysts tell us that the rental market has been tightening, with vacancy rates declining and landlords poised to implement rent increases. As you can see from this offer, general market conditions don’t apply to every property.... Read more »

West suburban real estate news roundup

Not all of the stories linked below qualify as actual “real estate news,” but they may affect your decision on where to move. If you’re homeward bound to the western suburbs, the local media can help you learn the flavor of the different communities. Five La Grange homes for less than $300K La Grange Park... Read more »

A nice variety of rental homes in Naperville

Naperville has long been an aspirational community for many, a place they consider a move up in the world. Current market conditions make that move a lot easier to achieve, based on the number of homes currently for rent. The local Multiple Listing Service currently lists 94 homes, apartments and condos for rent in Naperville,... Read more »

Shodeen maintains grand opening prices at Reston Ponds in Sycamore

Glen Ellyn 4-bedroom, 3-bath for $240K

After being on the market for two years, the home at 678 Marston Ave in Glen Ellyn has gone through foreclosure, is bank-owned and is being offered for sale under the FNMA HomePath program for $240,000. The home’s split-level configuration has all four bedrooms on the second floor, and a full finished basement The home... Read more »

A seriously under water Burr Ridge mansion

The term “underwater” refers to sellers who owe more on their mortgage than the market value of their home. And then there are homes that are literally under water, as reported in The Doings. When a real estate agent showed up with a client to tour a 30,000 square foot mansion known locally as Villa... Read more »

Few higher-priced sales in Elmhurst

There are fourteen homes priced above $1.25M in Elmhurst, but there have only been two sales above that price level in the last 12 months. Eight of those homes are priced above $1.5M, a level that saw only one sale during the past 12 months. At the current sales pace it will take 7 years... Read more »

Former White Sox closer selling Hinsdale home

Bobby Jenks has placed his 4-bedroom, 4-bath home in Hinsdale on the market for $899,000. The home is on a cul-de-sac at 5706 Astony Ct in the southern part of Hinsdale, a 15-minute walk to downtown according to the listing. Covering the 1.4 mile distance from the home to downtown in 15 minutes seems a... Read more »

Check out the Tribune Festival of Homes

New home construction has plummeted nearly 90% since its peak, and many new home builders have fled the market. The builders that remain active have retooled their offerings – and their pricing – to adapt to current market conditions and changing homebuyer preferences. Twice a year the Chicago Tribune spotlights some of the area’s top... Read more »