Should I rent or buy in Chicago
Is It Cheaper to Buy or Rent in Chicago? In some U.S cities, the choice whether to buy or rent is clear cut. In New York, Seattle and San Francisco, for example, renting a two-bedroom saves you money. In Miami, Las Vegas and Phoenix, on the other hand, buying a two-bedroom home is the way to go. In Chicago, however, making the rent vs buy call is not always so clear-cut. It all depends on where you’d like to live. If you’re looking in the South Loop, you’ll come out ahead buying a home. Right now, prices are low and could get lower....
read moreWhen It Comes to Chocolate, Chicago Has It Covered
Looking for a different way to celebrate Valentine’s Day? Instead of a night on the town, indulge in a romantic walk on the town. Visits to the city’s premier chocolate shops and dessert emporiums will take you through Chicago’s beautiful luxury real estate neighborhoods. Gold Coast and Streeterville Starting at 900 N. Michigan Avenue, visit Teuscher Chocolates of Switzerland, a 70-year-old company known for European-style chocolates with no artificial ingredients. Their special heart-shaped boxes for Valentine’s Day are...
read moreNew West Loop rentals offered
The fairly new residential building in the West Loop commonly known as ‘Mod’ was recently acquired by an investment group headed by Sam Zell. During the housing boom of 2005, the 1222 W. Madison location seemed ideal for a modern, eco-friendly, loft-style building but when developers were forced to make the switch from condos to apartments, the financial turmoil following the recent housing crisis finally caught up to the project. The construction lender, MB Financial, filed a $19 million foreclosure suit against the property about a year...
read moreDesperate Times Desperate Measures
In case you need more evidence that Chicago’s new construction real estate market is still struggling, the financial management company Mesirow Financial Real Estate, Inc., the holder of 659 W. Randolph’s remaining units, is making an effort to sell the condos to a non-for-profit group which has plans to convert the 19 unsold units into housing for recovering mental-health patients. In the plan, these condominiums would be rented out to clients of this non-for-profit group that specializes in mental illness and addiction. What could be the...
read moreThe Loop: Fine Dining, Fashionable Retailers, Exciting Entertainment, and….Gambling?
In a development plan that covers an entire city block in Chicago’s downtown Loop– which was supposed to include retail space, fine and casual dining, and plenty of entertainment– much of the large 5-story building known as Chicago Block 37 still remains vacant today despite its grand opening being several years ago. The original plan was for the project to resemble a mall-like atmosphere but because of the difficulties developers have experienced in leasing out much of the space, a new plan has surfaced that may be beneficial...
read morePrices at River City continue to slip-slide away.
How low can you go? What if your sole purpose in life were to serve as an example to others…for what NOT to do? This seems to be the karma for poor 800 S. Wells, also known as River City. The building looks like a cross between a space ship outside and a submarine inside. The concrete walls can be depressing and the roof over the lobby has been known to leak. A slew of River City properties are currently short sales or in foreclosure. Comprised of 448 units sitting on 20 acres of land southwest of Printer’s Row, there are studios,...
read moreChicago’s West Loop gone to the Dogs ?
With what some argue as the fastest growing neighborhood in Chicago, the West Loop certainly has an array of attractive features. It undoubtedly has that ultra-urban feel with an abundance of spacious and trendy residential lofts; there’s no shortage of thriving restaurants and its proximity to the city is especially convenient given it is located right next to downtown–while still allowing for some space in between. But with the constant up-and-coming development come plenty of homeowners with pets–and in particular, dogs. And...
read moreChicago’s South Loop Neighborhood
In the beginning a very long time ago the South Loop was an area comprised of a variety of industries and not a residence to be seen. Today the South Loop is a vibrant residential area with much to offer people in all stages of life. Location, Location, Location. This location provides excellent shopping such as DSW (shoes), Home Depot, Dominicks, Jewel, Staples, Target, pharmacies, various boutiques and more. Spend your free time at the Harold Washington Library, strolling Grant Park, exploring Museum Campus, enjoying a variety of...
read moreChicago Foreclosures
According to Crain’s Chicago Business, there was an alarming increase in foreclosure filings in July for the state of Illinois. The combination of default notices, auction-sale notices and bank repossessions were up 33% last month compared to the June rate. Though several states still rank higher among foreclosures, the significant month-to-month increase from June to July was the largest nationwide. This undoubtedly comes at a very interesting time as the Chicago City Council plans to vote in September on whether to place a Chicago transfer...
read moreReal Estate, Deal Estates, Steal Estates
Real Estate, Deal Estate, Steal Estate: One man’s bargain is another man’s bad luck in The Columbian Located in Chicago’s South Loop neighborhood at 1160 S. Michigan Ave., The Columbian is a prominent new addition to Chicago’s skyline. This handsome 46-story structure combines state of the art construction with cutting edge style and a tremendous location with every luxury amenity a discerning homebuyer could hope for. Located at the southwest tip of Grant Park and completed as recently as 2007, The Columbian was set to be one of the...
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