Chicago Real Estate

There is a lot of conflicting and confusing information in the news about real estate market trends. Here in the Chicago area, the city and North Shore are healthy, according to numbers released by the Illinois Association of Realtors.  Contrary to some of the hard hit areas on the coasts, areas of Chicago have weathered the down-market rather well.  Regardless, it’s still a “buyers market” and there are some fantastic opportunities for savvy buyers.  It’s like having a sale on house prices.  If you have the credit score, a perspective of where the market has been historically and a vision of where it could be in the long term, a bargain can be had. Comparable data is essential to making smart choices.  If you would like market vitals for a specific area, drop me an email. jhartong@rubloff.com

Click here for stats released by the Illinois Association of Realtors.

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For the city dweller, a new and very useful service has arrived.  Chicago now has a savvy guide to parking lots, garages and street parking regulations by zip code.  You put in an address for the area you wish to park in and out comes a list of parking options with maps for all those areas saturated with cars.  It’s a huge timesaver having a plan for parking your wheels before you set out.  Click here

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There are so many facets in a real estate transaction to learn in a short amount of time.  It can be frightening when buying real estate for the first time.  Many first-time buyers tend to be shy about asking questions and then begin to panic when submitting their first offer.  My advise, don’t ever feel that a question is silly or trivial.  Every question has a valid answer. The more knowledge you have, the easier it all seems.  Submitting an offer and then following it through to a contract and then closing, is not easy. It’s a lot of hard work on behalf of the realtor, attorney, loan officer and of course, you.  I always try to make the whole process seem easy and seamless.  Often, I find myself working to the wee hours of 1am looking up listings and strategizing how to help my clients get what they want.  It’s important for a Realtor to walk you through the contract process and be available to answer any questions you have been pondering.  I try to make myself available at just about anytime of day by email or phone.  It makes all the difference when communication is strong and potential obstacles are clearly seen in a real estate transaction.  Below is a short list of steps to buying a home.  

1. Determine your budget and needs

2. Get pre-approved with a mortgage lender

3. View all potential properties that match your criteria

4. Make an offer and then negotiate a contract

5. Get a property inspection

6. Have an attorney review the contract

7. Complete the mortgage application process

8. Property appraisal by the lender and loan approval

9. Final property inspection and check list of negotiated items to added, fixed and etc.

10. Closing will be arranged to take place in a tittle company or brokerage office

11. The Home is finally yours.

For more details about Evanston, Chicago or North Shore property, click here.

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A bit of Lincoln Park I didn’t mention in my last post, the zoo.  One of my favourite zoo’s in the world happens to sit next to the lake in Lincoln Park.  An excellent place to pay a visit in the Spring or Summer.  It’s also very free.  Lincoln Park Zoo is well organized and a tidy zoo that can be accessed 7 days a week all year long. The Victorian conservatory at the northwest corner of the zoo is also worth a visit.  It houses tropical plants from all over the world.  It even has one of those really stinky flowers that only blooms every ten years.  Having a look around in there gets you in the mood for Summer.

Click here for Lincoln Park Zoo 

Click here for Lincoln Park Conservatory

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Many people are in the market for investment opportunities.  I have a beautiful single family home in Lincoln Park that included two sets of income potential.  Enjoy this home while bringing money in, or expand the current home. Contact me to discuss how the numbers might work for you.

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For people relocating and unfamiliar with Chicago, Lincoln Park is one of the most exciting neighbourhoods to live in.  It’s Chicago’s Greenwich Village or Kensington. There are limitless dining, drinking and shopping options at your disposal.  A wonderful lakefront park offers a host of outdoor activities including cycling, rowing or a lazy day at the beach.  With easy to access public transportation and a relatively short commute time to downtown Chicago make it highly sought after.  Lincoln Park Real Estate comes in all shapes and sizes from High Rise Condos to classic Greystone Two Flats.  Most of the streets are lined with grand deciduous trees and vintage iron clad property fences. For more on area eating, drinking and entertainment options, here is a neighbourhood guide from Metromix Chicago.

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Here is a true Cubs Fan.  When he grows up, I’m sure he will want to live near Wrigley Field. Like across the street on Waveland with a roof terrace!  Wrigleyville has lot’s of vintage and new construction properties alike.  I’m currently working with several buyers in the area in different price ranges.  Properties in the area are a bargain for being in such a dynamic and exciting part of Chicago.  The short distance of the lake, the Loop and of course an iconic Baseball park all make the area highly desirable.  The largest drawback to living in Wrigleyville or Lake View is the premium you pay to own a parking space or garage.  Aside from tight parking, almost anything you would desire is in the neighbourhood.  Owning a car in the city can be a curse or a blessing, it all depends on where you work.  I’d highly suggest paying for a residence with parking rather than competing for the scarce street parking, unless you own a Vespa.  A 3br. 2bth. condo with one garage space in a refurbished vintage or new building will average around $550K.  A newly built or refurbished single-family home with 4br. 3bth. and 2 parking spaces will average $1.1M.  Don’t despair, Property can be found for much LESS in Wrigleyville.  Prices have come down significantly over the last couple years and buying in this market will allow you to get more for your money.  

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This is a wonderful, big coach home! Get the space that Lexington Lane offers - plus 2 full baths! Check out the room sizes. Features include: updated eat-in kitchen, recessed lighting, fireplace, crown molding, ceiling fans, 6 panel doors, balcony, one car garage, in unit laundry, storage, and more! Appliances are included. Great private location backing to trees & single family homes. Minutes to shopping, xways!

Take a Virtual Tour! http://www.visualtour.com/shownp.asp?T=1453037

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