Market Update November 2014

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In the video above, we discussed how the real estate market is affecting buyers. With the availability of credit and the threat of mortgage rates rising over the next year it is very important for sellers to price their homes well in order to attract a buyer.

The following charts show year-over-year how prices have changed for the month of October in the neighborhoods of downtown Chicago. If you think the time might be right for you to sell your home please call us to help you determine your home’s value.

Loop

Near North Side

Condos/Townhomes

Single Family Homes

Near South Side

Condos/Townhomes

Single Family Homes

Near West Side

Condos/Townhomes

Single Family Homes

 


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Large Townhouse Near South Loop Elementary

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View current inventory of 3 bedroom rental homes by Chicago’s Near South Side.

Listing Details 

Large Townhouse Near South Loop Elementary

1328 S Federal K, CHICAGO, IL 60605

Original List Price: $3,550/month

MLS number: 08785285

Bedrooms: 3

Bathrooms: 2.1

Square Footage: 2100

 

Call Terri Buseman at 312-208-5166 to see if this property is still available and arrange a showing.

Tons of Room to Live and Entertain in This Townhome

Spread out in this large townhome with a family room and den, as well as beautiful views north of the Chicago skyline. A spacious kitchen with an island overlooks the family room and has access to the balcony for outdoor entertainment. The formal dining room includes a wet bar. 

Click here to see additional images of this South Loop Townhome

A Quiet Location Makes This an Urban Retreat

Located in the heart of Dearborn Park II this home is practically across the street from South Loop Elementary and just a little ways from Cottontail Park. A short walk east will bring you to the heart of the South Loop and shops and entertainment on Roosevelt Road feel like they are nearly around the corner. Have an easy commute, less than a mile from the Loop.

Dearborn Park: A Residential Community in the South Loop, Chicago

Dearborn Park I & II is a residential area in the South Loop that was developed in the late 70s-early 80s to offer families an alternative to moving to the suburbs. Filled with condos, townhomes, and single family homes, as well as parks and a school Dearborn Park offers a respite from the bustling downtown nearby.

Find Similar Homes in the Area


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Dearborn Park Townhome

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View current inventory of 2 bedroom townhomes and condos by Chicago’s Near South Side.

Listing Details 

Dearborn Park Townhome

1069 S Park Terrace 205, CHICAGO, IL 60605

Original List Price: $450,000

MLS number: 08787417

Bedrooms: 2

Bathrooms: 2

 

Call Terri Buseman at 312-208-5166 to see if this property is still available and arrange a showing.

Bright, Updated, Townhome 

This home feels like new, boasting a remodeled kitchen with granite counters & all new stainless steel appliances. Both bedrooms are spacious with walk in closets. A full laundry room with side-by-side washer and dryer gives even more room for storage. Hardwood floors throughout.

Click here to see additional images of this South Loop Single Family Home

Great Location Offering Privacy and Accesibility

A private fenced-in-terrace provides you with your own outdoor space to relax and entertain. With a Walkscore of 95 the city is at your fingertips. This home is mere steps from parks, Printer’s Row, the Loop, and shopping & entertainment at Roosevelt Collection.

Dearborn Park: A Residential Community in the South Loop, Chicago

Dearborn Park I & II is a residential area in the South Loop that was developed in the late 70s-early 80s to offer families an alternative to moving to the suburbs. Filled with condos, townhomes, and single family homes, as well as parks and a school Dearborn Park offers a respite from the bustling downtown nearby.

Find Similar Homes in the Area


For information about real estate in Chicago or resources in your area please contact us and sign up for our free market report!

Bright Full-Amenity Condo in the South Loop

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View current inventory of condominiums by Chicago’s Near South Side.

Listing Details 

Bright Full-Amenity Condo in the South Loop

1530 S. State #525, CHICAGO, IL 60605

Original List Price: $299,000

MLS number: 08772249

Bedrooms: 2

Bathrooms: 2

Square Footage: 1233

 

Call Terri Buseman at 312-208-5166 to see if this property is still available and arrange a showing.

Spacious Modern Home

Full southern exposure makes this a bright contemporary home, freshly painted, with hardwood floors throughout and new stainless steel appliances.

Click here to see additional images of this South Loop Home

Extra Large Balcony

A full wall of windows open to the balcony which expands the length of the home. Facing south, the home is very bright and offers extensive views.

South Loop: One of Chicago’s Oldest Neighborhoods

The South Loop has been a vital neighborhood for most of Chicago’s history. From Dearborn Station as an early a transportation hub. To the Prairie District, once home to leaders of early Chicago such as Marshall Field and John Glessner. Later Printer’s Row became a popular place for book manufacturer’s. A residential revival started in 1979 with Dearborn Park. Today the neighborhood is home to many Chicagoans, as well as tourist destinations such as Museum Campus.

Find Similar Homes in the Area


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Hyde Park Penthouse with Views

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View current inventory of homes for sale in Hyde Park.

Listing Details 

Hyde Park Penthouse with Views

5400 S Harper Ave #1402, Chicago IL 60615

Original List Price: $196,000

MLS number: 08768160

Bedrooms: 2

Bathrooms: 1

Square Footage: 1000

 

Call Terri Buseman at 312-208-5166 to see if this property is still available and arrange a showing.

Beautifully Updated Hyde Park Penthouse with Expansive Views

This bright, open corner unit has been freshly painted. There is new carpeting in the bedroom and glistening cherry floors in the living room. An updated, European-style eat-in kitchen houses a washer/dryer combo and a dishwasher. It is well finished with granite counters and cherry cabinets. Each window lets in tons of light and showcases amazing Chicago skyline and Lake views.

Hyde Park Chicago Real Estate for Sale

Click here to see additional images of this Hyde Park Penthouse

Location is Prime for this Hyde Park Home

Only one block away from Starbucks, restaurants, shopping along 53rd street, and just steps away from the Museum of Science and Industry, Jackson Park, and the Lakefront, this home is in a prime location for Hyde Park. Whole Foods is opening a new store nearby, in 2016. Easy access to the Metra and public transportation provides a quick trip to downtown Chicago.

Hyde Park: A Neighborhood Where History and Culture Thrive

Originally a suburban retreat for wealthy Chicagoans, Hyde Park is still home to many mansions. The neighborhood is home of the Museum of Science and Industry, the University of Chicago, as well as President Obama.

Upscale shops and restaurants can be found along 53rd st near Harper Ave. Hyde Park also keeps nature at your fingertips with the Lakefront Path, Jackson Park and many other parks scattered through the neighborhood.

Find Similar Homes in the Area


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Market Update October 2014

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In the video above, we discussed national inventory, closed sales, and price changes for the year 2014 as well as inventory and price changes in the city of Chicago for that time period.

The following charts show month-to-month points (from January 2013-September 2014) of inventory, price changes, and closed sales in the neighborhoods of the Loop, Near North Side, South Loop, and West Loop.

Loop

 

Near North Side

 

Near South Side

 

Near West Side


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Staying Safe on the Streets of Chicago

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Chicago gets a really bad rap, a really bad rap. Terri and I have both lived here our whole lives, we live and work downtown, and rarely do either of us ever feel vulnerable. If you are feeling vulnerable there are a few ways to mitigate the issue, but please keep in mind at all times that people are generally good.

You may be wondering, if I feel so safe then why would I write about such a topic? Sadly, last week, news broke of a real estate agent in Arkansas who was found dead. The man accused of her abduction and murder said, “[She was targeted] Because she was just a woman that worked alone – a rich broker.”

Robbing a rich merchants house-J. M. W. Silver (Public Domain)

It is very sad that he felt that way and more so that he felt that he could take advantage of her perceived privileged life. Unfortunately, while most people are generally good there are a few jerks out there hoping to make a profit from someone else’s loss. With some preparation and street smarts you can lessen your chances of them targeting you.

  • Always be aware of your surroundings. Know who is around you at all times. If someone is following you (probably because they are going the same direction) keep an eye on them in the reflections of passing buildings and listen to their footsteps to be sure they aren’t speeding up or following an awkward pattern. Look (with just your eyes) underneath cars in a parking lot for shadows or people hiding out.
  • Talk to strangers on the street with caution. If they need directions they will usually say so immediately. If you aren’t clear on why they are talking at you or they ask for money it’s ok to ignore them or say a quick “no”.
  • Keep your purse closed and your belongings put away. Keep the zippers of your bags in front of you or under a flap so they can’t be accessed without your knowledge. If you are buying a backpack choose one with loud zippers, so you can hear if someone is messing with one.
  • When sitting on public transportation keep your bag in your lap with at least one arm through a strap. If you are going to look at your phone, keep it behind the bag on your lap, so the bag acts as a barrier between the phone and standing passengers.
  • When meeting a stranger, let a friend know where you will be and the timeframe of your meeting. If you are uncomfortable call your friend and keep them on the line so they can listen for trouble. You might also ask your friend to meet you at the same location a few minutes later. In that case tell the stranger that your friend is on his/her way. Also, Google and check the public records for details about the person you are meeting. The public records can show you if that person has a criminal history and social media will likely tell you if you know the same people.
  • If you feel a real sense of danger hold your keys in your fist with some of the keys sticking through, between your fingers, a la Edward Scissorhands, Freddy, or the Wolverine. If you are wearing stilettos you could seriously injure anyone who grabs you from behind by putting your ankle against his/her knee and stomping down along his/her leg, this will hurt regardless of your footwear. If someone grabs your arm from in front twist your arm away from his/her thumb, towards the other fingers, causing his/her arm to twist and release. For the record, I have never had to use any of the above three self-defense tricks. However, I feel safe knowing what they are.
  • Finally, one of the best ways to be safe is to communicate! Strike up a conversation with the person next to you on the train or at the cafe. Smile at people as you walk by and say “good day!” After all, one of the number one reasons people say they feel safe in their town is because they know everyone!

http://chicago.cbslocal.com/2014/09/30/murder-of-arkansas-realtor-alarms-local-agents-say-safety-precautions-needed/#comments


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A Tree Grows In Printers Row

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Kitchen 1

Now I call it the Treehouse. The name took hold as writers and artists came to the annual gatherings I hosted during the Printers Row Book Fair. In fact, that’s how the idea for the tree came to be. When I decided to buy the loft, my friend David C Jensen, a fine muralist, and I agreed that the space; with its open floor plan, soaring ceilings, brick walls, and industrial duct work, presented the perfect setting for one of his murals. But I wasn’t sure what or where.

At the time, I held salons attended by creative people of all sorts. At one such event, someone (I don’t recall now) suggested a tree painted on one of the architectural pillars. A tree, emerging organically to the space, would bring a bit of nature into this urban environment.

Kitchen 9

The idea seized our imaginations. Growing up, I had an illustrated book of Greek Myths. One of the pictures featured the wood nymph, Daphne, as she was being turned into a tree. We decided on an image in which, if you look closely, you can see Daphne, along with birds, deer, and more, hidden in plain sight in the tree bark. Branches sprouting fruit, leaves stretched over the ceiling around the pillar in the kitchen. David and I chose a few colorful animals, parrots, raccoon, monkey, gecko, even a dodo bird decorating the tree.

Kitchen 7 cropped

It took David 2 weeks to paint it. My cat would climb the ladder while he painted the ceiling Michelangelo-style. The process required careful thinking out the application and layering of trunk, foliage, fruit and wildlife to create the organic, gentle but striking 3-D fresco you can see there today. I hung the surrounding duct work with flowering vines and bunches of grapes, bought at a craft store. A few more animals, created by local artists completed the picture.

Kitchen 9 Cropped

 

The loft, with tree at its heart, has been featured in the Printers Row Loft Walk and you can glimpse images in a video produced to promote that event. Or, if your interested in buying, you can schedule a showing with RE/MAX agent, Terri Buseman. New owners can make of it what they will. Add your own personal touches or, if it doesn’t fit your vision, it can be painted over. It’s a space loaded with possibility!

Make it your own.


Written by the homeowner.

For information about real estate in Chicago or resources in your area, please contact us and sign up for our free market report!

Home Town Breweries

Chicago breweries date back as far as 1835. Brewing in Chicago has had a rich history, from the 1855 Beer Riots to being home to the Siebel Institute of Technology which, founded in 1868, is America’s oldest brewing school. Many Chicago breweries resumed operations following prohibition. While those originals have since closed their doors, the tradition of brewing in Chicago was revitalized in 1988 when Goose Island opened, leading off the craft brew revolution we find ourselves in today.

You may be familiar with some of Chicago’s more established breweries such as, Two Brothers, Half Acre, Metropolitan Brewing, and Revolution. New breweries are opening all the time! Recently Lagunitas, who’s owner is a native Chicagoan, opened a 300,000 sq/ft brewery and taproom at 1843 S. Washtenaw Ave. The South Loop neighborhood is anxiously awaiting some additional breweries. Motor Row Brewing is currently under construction at 2337 S Michigan. South Loop Brewing Co. has raised nearly $10,000 over their goal on Indiegogo and have already teamed up with many local restaurants to help them with promotion and on September 2 Vice District Brewing opened at 1454 S Michigan Ave.

Simply a tap room Vice District serves only its own creations. Currently they have five choices ranging from 5-6% ABV and flavor profiles for every taste. The atmosphere provides a friendly neighborhood feel. In fact, I have run into fellow South Loop neighbors on a multiple occasions already! The walls are lined with long tables, creating a communal setting and the bar is an inviting spot to have a quick chat with the bartenders and owners (providing they aren’t too busy, of course!) If you prefer to have a meal with your beer you may order food from one of the nearby restaurants.

Chicago is known for its great restaurants, cocktail/wine bars, sports bars, and gastropubs, but a simple poor house that focuses its customers around a single type of beverage is a welcome and needed addition to our evening entertainment choices. Check out Vice District Brewing; Tues-Thurs 4:00-11:30pm, Fri 4:00pm-1:00am, Sat 12:00pm-1:00am, Sun 12:00-11:00pm.


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6 Ways to Prepare Your Home for Sale

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Have you ever walked through a model unit in a new building and thought, wow, I wish I had such a beautiful home! Those homes have been professionally staged to look like the perfect place to live in. When preparing your home for sale these are the techniques to implement so buyers will take one look at your home and think the same thing.

freedigitalphotos.net

freedigitalphotos.netHere are 6 things you can do to make your home look like a model and prepare it for a quick sale.

6. Paint in soft colors that brighten the space and match most decor.

5. Update the hardware on your doors and cabinets. Consider how they look near the handles of your kitchen appliances and bathroom towel racks.

4. Clean walls, baseboards, floors, windows, door frames, etc. Touch up any scuffed paint. This will freshen up all of your permanent surfaces.

3. Clean the fireplace. Even the logs and rocks in gas fireplaces can usually be cleaned. Consult your fireplace store for options.

2. Purge, purge, purge. Hold a yard sale, sell items on Ebay, donate what you can’t sell, just get rid of anything you don’t use.

1. Pack, pack, pack. Remember the model homes that were professionally staged? Now is the time to make yours look like that. Pack away anything you don’t need such as knick-knacks, books, and art. Just leave a few key pieces. Pack away all valuables and off-season clothes. For inspiration, take a walk through Ikea and note what items are on display in the sample rooms.


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