Saturday Open House 1-3PM! 3Bed/3Bath Duplex in Lakeview!

Today, we’re hosting an open house at one of our listings, a 3Bed/3Bath duplex-down located at 1950 W. Diversey Parkway from 1-3PM.  This home has SO much space in it, around 2,800 square feet so it’s definitely not lacking in size.  The building’s also built on an extra-wide lot so the every part of this home, including the hallways have extra space.  Being a duplex down, this home has two living areas, two fireplaces, two bedrooms on the first floor, and one huge bedroom (13×15feet) down on the lower level.

This home, listed with @properties, is seriously listed at a great price, $374,000 and can also be rented out for $2,600 per month.  1950 Diversey is located close to a few parks, TONS of retail like grocery stores, retail, restaurants, everything.  Plus, this part of Lakeview still has a lot of growing and redevelopment coming its way in the future!

Check out a few pictures below, and the take a look at the virtual tour by clicking HERE!  Also, if you have any constructive opinions on what you see, go ahead and leave a comment!  And if you have any questions about the home, just send me an email:  jeffstewart@atproperties.com.

Newest milestone! ChicagoismynewBlog surpasses 50,000 hits!

I have some plans moving forward with ChicagoismynewBlog!  First, plans call to get rid of the pesky “.wordpress” and just go for ChicagoismynewBlog.com.  I’m also starting to incorporate my very own real estate ventures in with the website such as advertising different open houses and properties that I’m directly working on.  You never know when someone comes across something they like…but now it just needs to happen!

I’m also hoping to move ChicagoismynewBlog! over to a different website and make it more of an official real estate website for myself.  We’ll see when that happens though, because it costs a lot of money depending on where I go.

RD+659. Slow sales change to success. Only 1 home left for sale in this West Loop building!

Some of you may know of RD+659, a highrise condo building located at 659 W. Randolph Street in Chicago’s West Loop neighborhood.  About a year ago, rumors were swirling about RD+659’s condos turning into rental apartments, or that the condos would see price cuts.  Well, they’re still condos but the developers brought in @properties to help sell out the building and boy, did it work.  Because of smart price reductions, sales have skyrocketed and now, only 1…yes 1 condo remains!

RD+659’s only remaining home is a 2Bed/2Bath condo with unobstructed Southern exposure, $15,000 worth of upgrades and an extra wide parking spot, all for $371,000. 

RD+659’s building amenities include an outdoor swimming pool, roof deck, fitness center, bike room, heated parking, dry cleaners, and a 24 hour doorperson.  The assessments are $460/month and it includes EVERYTHING you would need…all in one payment.  Your water, electricity, gas, cable, internet, air conditioning, and all of the building amenities.  Just think of how much all of these would cost you if you paid each seperately. 

Check out the RD+659 website and if you have any questions about the remaining home, just ask me!  Photos courtesy of the RD’s website also.

NEW LISTING ALERT! 4849 N. Ravenswood 2Bed/1Bath in Chicago’s Ravenswood neighborhood.

We’ve got a new listing that hit the market less than a week ago in Uptown.  Located at 4849 N. Ravenswood Avenue in Chicago’s Ravenswood neighborhood, this top floor condo is in a vintage rehab and is in great condition.  The condo has two bedrooms and one bathroom with 12 foot ceilings and refinished, original hardwood floors.  The home also has a big kitchen with plenty of storage, in-unit laundry, a big back deck, extra storage in the building, and tons of natural light.

This home is being listed by @properties agents Karen Fata and Jordan Shackelford.  For any questions, send me an email at jeffstewart@atproperties.com.

Check out a few of the photos below and check out the full virtual tour by clicking HERE!

Brininstool, Kerwin and Lynch with plans for a high rise in Chicago’s West Loop/Greektown!

Just caught these plans for a new residential high rise building on the real estate message board, Skyscraperpage.  The proposed building, designed by Brininstool, Kerwin and Lynch, will replace one of the many parking lots in Chicago’s West Loop and Greektown neighborhoods on Green Street between Van Buren and Jackson. 

The Brininstool, Kerwin and Lynch website describes the building as having around 370,000 square feet in 28 story’s, eight of which will be above ground parking clad in glazed horizontal windows.  With the current plans, I’m definitely on the road to really liking the building.  The base from far away actually looks pretty interesting but once you see a close up photo, my opinion goes a complete 180…  It just looks so boring and sterile especially when it’s surrounded by dozens of old, detailed, brick buildings.  Please come up with something better!

Check out the Brininstool, Kerwin and Lynch website for information on the firm and their other projects!

The construction of new retail hits a 25 year low.

Sure this sounds really doom and gloom but when you think of it, this was bound to happen, it just took a bit longer to happen than the housing fallout.  Industrial, commercial, retail, and residential sectors don’t all fall or reach a low at the exact same time but just like the residential market, the retail market will get better soon.  Not sure about you, but I still see stores and restaurants packed full of people spending money so I’m not too worried.

Retail construction hits 25-year low

By: Thomas A. Corfman and Colleen Lobner

 Jan. 25, 2010

(Crain’s) — The construction of new shopping centers in the Chicago area continued to grind down in 2009, falling to its lowest level in a quarter century.

Retail construction dropped plunged 53% in 2009, to 1.7 million square feet, compared to 3.7 million square feet in 2008, according to an annual report by retail real estate brokerage Mid-America Real Estate Corp.Last year’s total was the lowest since 1984, when 1.6 million square feet of retail properties were completed.

Construction has plummeted nearly 80% since 2007, when nearly 8.4 million square feet was completed as many retailers were expanding rapidly to catch up with new residential development. The 2007 total was the highest since 1983.

Since the recession began in late 2007, consumers have cut back their spending, the retail industry has undergone a dramatic retrenching and construction lenders have little appetite to finance new developments of any type.

In 2010, the pace of shopping center development will remain unchanged at 1.7 million square feet, and will likely remain at that historically low level for several years, says Andrew Bulson, a senior vice-president with Oakbrook Terrace-based Mid-America.

In 2011, the pace of development will rise only “marginally,” he says.

“It’s perhaps the new normal for the foreseeable future,” he says.

Retailers still smarting from the recession are slow to expand and when they look to add locations are likely to focus on existing properties where rents will be cheaper. And amid the uncertain recovery of the national economy, investors are skeptical of backing new retailing ventures.

“The pendulum has completely swung in the opposite direction,” says developer Evan Oliff, president of Chicago-based Preferred Development Inc. “It’s about time….”

Read the full Crain’s Chicago Business article by clicking HERE!

City of Chicago Property Tax Relief Program. Check it out!

I completely forgot where I saw this flier but I know that I saved it for this exact reason.  Check out the flier HERE!

This tax relief program asks if you’re a homeowner who pays property taxes.  Do you also make less than $200,000 a year?  Then you may be eligible for tax relief of up to $200!  To see if you qualify, just download an application at www.cityofchicago.org or visit one of the three locations! 

Again, click HERE! to view the pdf version of the tax relief flier.  No matter how you think of it, an extra $200 is nice for anyone and after being taxed like no other, why not get something back, right?

Chicago area home sales still going up. December a good month!

Awesome news once again.  Even though, in the end, 2009 as a whole was flat, I’m taking that as a win because we all know it could have been much worse…haha.  If you’re looking to buy a home, sell your current place, or even if you know someone who’s looking to rent a place, send me a message to my @properties email:  jeffstewart@atproperties.com.

Local home sales up in December, flat for 2009

By: Staff Jan. 25, 2010

(Crain’s) — Chicago-area home sales rose 33% in December compared with the same month last year and were essentially flat for the full year, according to the Illinois Assn. of Realtors.

CHICAGO-AREA SALES
Below is a monthly year-over-year comparison of home sales (single-family and condo) in the nine-county Chicago area.
Month	2009	2008	Change
January	2,965	3,927	-24.5%
February	3,082	4,326	-28.8%
March	4,260	5,759	-26.0%
April	4,747	6,094	-22.1%
May	5,634	6,927	-18.7%
June	7,140	7,806	-8.5%
July	7,427	7,408	0.3%
August	7,009	6,917	1.3%
September	6,862	6,477	5.9%
October	7,286	5,467	33.3%
November	6,826	3,978	71.6%
December	5,752	4,320	33.1%
Full year	69,290	69,406	-0.2%
Source: Illinois Assn. of Realtors

Median prices, however, fell sharply last year both in the region and the city.

For all of 2009, 69,290 homes sold in the Chicago area, down a scant 0.2% from 2008, the Realtors said in a release Monday.

That’s a major improvement from 2008, when local sales fell almost 26% compared with 2007.

In December 2009, home sales rose 33.1% locally, to 5,752 compared with 4,320 in December 2008, the sixth consecutive month that area sales increased over the year-ago month.

“In 2009, we saw demand primarily for lower-priced homes from first-time buyers in addition to short sales and sales of foreclosed homes,” Mike Onorato, president of the association and broker-owner of Onorato Real Estate in Coal City, said in the release. “There is opportunity now for the move-up buyer to take advantage of the tax credit that ends April 30 and lower mortgage interest rates, which many analysts expect to rise by mid-year.”

Last year, sales in the city of Chicago fell more sharply than in the entire Chicago area. In the city, 2009 sales fell 7.4%, to 19,401 compared with 20,946 in 2008.

In December alone, city sales rose 39.8%, to 1,768 compared with 1,265 in December 2008.

The median price plunged last year in both the Chicago area and the city. The Chicago-area median — the price at which half the homes sell for more and half for less — dropped 18.3%, to $196,000, compared with 2008….

Check out the full Crain’s Chicago Business article by clicking HERE!

New year, new outlook on real estate?

Things are getting BUSY for me and for pretty much all other agents I’ve talked to lately.  Buyers are coming out in droves to get started with their home searches, a lot are determined to buy before the April 30th deadline for the First Time Homebuyers Tax Credit, and sellers are taking advantage of it by getting their homes listed!  Let me know if you need any help with your dive into the real estate market and send me a quick email.  jeffstewart@atproperties.com.  Check out my @properties agent website by clicking HERE!