Chitown Town Homes and Hot Salsa in Miami!

Thanks to the real Kings and Queens of Real Estate, namely my clients, the Melinda Jakovich Team was among the Top Producers for all of Prudential Rubloff for the month of November!

Along with my move to Pru Rubloff I’ve been trying to branch out with my marketing efforts, so if you go to the new Mariano’s Market at Randolph and Halsted then you’ll see my little ad in the grocery carts!

Before I go any further I am excited for a friend of mine whose daughter is competing in the World Cup of Latin Dance in Miami this weekend.  Her team qualified at the Chicago championships and earned the right to compete with the very best!  In the photo she is standing and on the right.

Both Town Homes and High Rises have monthly assessments to pay for regular expenses and build up funds for larger, one-time-only types of projects.  But high rises like beautiful One Museum Park, shown above, have much larger common areas and often have employees such as 24 hour doormen and building engineers and other maintenance employees.  The net is that high rise condo assessments might be as much as three times the assessments of town house units!

I took note of this as I recently sold two town home listings, and took on a beautiful new town home listing at 408 East North Water Unit F.  This home is on the peaceful waterway called the Ogden Slip, just across from the beautifully rehabbed North Pier building.  It is an end unit, the most upgraded in the area.  Besides sumptuous interior touches created by a renowned London-based designer, it has an elevator and the land is not leased but owned.

For years the land in this area was owned by the Chicago Dock and Canal Trust, made up of the descendants of William Ogden, a New Yorker who had the amazing insight to buy up Riverfront land in the 1830’s.  He then became the first Mayor of Chicago!  (Doesn’t he look just a little like a Daley??)

His investment was protected so well that all of the original unit owners along the Ogden Slip only held leases for their land, meaning that besides assessments they also had to pay rent on the side for the land on which their homes were built.  Five years ago a land purchase option was offered and my client took advantage, making this a more complete “single family dwelling” type of property for the discerning buyer.

The two other units we sold recently were to the South, a town home on Prairie Street in the South Loop, and to the West, at CA23 in the West Loop, shown above, which is right next to the Harpo Studios.  The West Loop is moving along well, and I have a developer looking for West Loop properties to build on!

I want to ask everyone to consider supporting the Shriner’s Children’s Hospital of Chicago.  My friend Jeff Ackman is chief of staff, and like so many entities across the country they are facing financial challenges.  They do such great work, saving and improving the lives of children, so please consider making a donation.  I’m hoping Warren Buffett is a regular reader of my Blog, Jeff could really use his help right about now!!

Finally, every year around this time I put in a good word for my beloved Joffrey Ballet – don’t miss the Nutcracker, the best Christmas show in town!

Happy Holidays Everyone!


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