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Chicago, IL Real Estate News

By Suzanne Willems
(Willems Realtors)
Why not take the train to work from a new Indiana Home? Get more house for your money and great schools. Their our many Northern Indiana Train Stops. The Metra has train stops in nearby Illinois from Schererville, St. John and Dyer Indiana. Train Number 10210410610811012112212Station AMAMAMAMAMAMAMAMSouth Bend*      6:35  Hudson Lake      f5:55  Carroll Ave* 4:024:555:435:506:036:206:43 11th St 4:075:00------5:556:086:256:48 Beverly Shores ------f5:10------------f6:17------f6:58 Dune Park* 4:225:166:04------6:236:417:05 Portage/Ogden Dunes 4:315:26------6:166:326:507:15 Miller 4:375:32------6:246:396:567:21 Gary Metro Ctr* 4:455:40------6:326:487:047:297:57Gary/Chicago Airport# f4:51f5:46------f6:38f6:55------------f8:04East Chicago* 4:575:53------6:467:037:147:408:10Hammond* 5:025:586:...
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By Suzanne Willems
(Willems Realtors)
If your looking for affordable bedroom towns and work in Chicago, you would be wise to consider Northwest Indiana. Get more house for the money and great schools. Lots of new residential and commercial developments in booming towns.Lots of major expressways feed into Chicago from NW Indiana. The South Shore Train makes the Chicago Commute much easier with train stops throughout Northern Indiana along Lake Michigan.Learn more about Northwest Indiana http://www.regionreview.com/ 
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By Larry Vecchio
(CondoDomain)
Hot off the press from Centrum Properties! The Lakeview Collection Lofts opens its swank sales center. Pictures of the sales center will follow in the next couple days. A swank sales center has grand opened for The Lakeview Collection, Centrum Properties’ $100-million new-construction mixed-use development planned at the bustling intersection of Lincoln, Belmont and Ashland avenues in the heart of the Lakeview neighborhood on the North Side. “The Lakeview Collection will be an energetic hub of street life, framed by cafes, visitors shopping or out for a stroll, and residents hustling to and from their homes, in a true, 24-hour neighborhood environment,” said John McLinden, partner in Centrum Properties. *See entire press release by DeBat Media Service.Chicago Condos
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By Antoinette Rayburn
(Real Living Helios)
 The subprime lending market has created such a buzz lately. It was "fun" for buyers and realtors when we could get ANYONE financed and find their dream home. But what now? Well now, unfortunately there are an abundance of foreclosed properties that will inevitably bring the market value the near by homes down. Chicago is starting to feel the wave but overall it hasn't affected the real estate market the way that it did the stock market. There's still time to level off. Interest rates are still relatively low and the weather is breaking. Chicago is ready to move these homes. Certain areas in the windy city won't hardly be affected like Lincoln Park, Hyde Park, Loop or Gold Coast. These areas are steady.What do you think? Has anyone been severely affected by this media blab?
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By Gloria Scoville
(Independent Agent)
I stopped by the grand opening of Lakeview Collection - WOW! I have never seen designs and finshes likes this in Chicago.  YOU HAVE TO SEE THIS. They said the hired an interior architech from Canada to deisgn this, you can tell it did not come out of Chicago. Price points are a little higher than some of the rest of the stuff in Lakeview, but the quality is in there. I guess you get what you pay for. Check out the website at www.lakeviewcollectionlofts.com.  
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 I've written about HB4050 in the past.  "HB" stands for House Bill and if you want to know a little more information than I'm including in this blog, feel free to refer back to my previous blog on the topic.  Here's what I've learned, in a nut shell.There are bad people in the world.  Some of them work for mortgage lenders and brokers.  Sometimes those people take advantage of unsuspecting first time, or even seasoned, homebuyers.  Years ago, I was one of those homebuyers.  You can read that story in my blog "My True Story of Predatory Lending".  The local government is trying to protect those of us who may not be able to protect our selves.  I understand that desire and I appreciate the gesture.  However, in their haste, what has actually happened is a redlining of minority communitie...
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By Russ Msrtin, Residential Mortgage Advisor
(Perl Mortgage)
"The definition of insanity is continuing to do the same thing over and over again expecting different results." - Rita Mae Brown (Or Einstein depending on the source). I have resisted writing on this topic for sometime now, but I can no longer bite my tongue (or keyboard). Several months ago, Governor Blagojevich suspended a controversial law called HB4050. House Bill 4050 was implemented late last year and was intended to help curb foreclosures. The law only applied to ten zip codes in Cook County; mostly located on the southwest side of town which is why it probably never really got substantial mainstream press coverage and many Chicagoans don't really know about it.HB4050 called for mandatory credit counseling of borrowers who had 650 FICO scores or less when buying or refinancing a...
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Today has been a day I will ALWAYS remember... and I have to thank ACTIVE RAIN for so very much of it.Yesterday morning I discovered that NBC-5 TV in Dallas had picked up one of my recent posts from my "Pretty Blog" (which is my AR blog slightly re-constituted) and posted it on the station's website. I was flabbergasted. I was floored. I was thrilled. And I really wanted to thank Active Rain... However, my "thank you" was going to have to wait as I really wanted to also post my 3 Year Anniversary Post.When I finally DID get  to post my thanks to Active Rain I was going to say that I could NEVER write what I do without having the audience they created for my words. You see if I was JUST posting my words out into that GREAT BIG WWW, I would never been able to write what I do. Active Rain ...
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Today, on the 3rd anniversary of my first home staging... I thought I would share the backstory behind my first staging experience and how it convinced ME that home staging works.In March of 2004, a little after I had completed my studies in Interior Design, I was asked to stage a condo (that had a lot going against it) in Chicago. I can remember thinking... "Staging? What's that?" You see, I really knew NOTHING about staging.  So I went about researching what I could on the web. But unfortunately, at that time, there was not much information to be found, as there is today, but there was enough information that I got the "basics" of what staging is all about.  The "basics" I remember getting was to de-clutter and let the HOUSE be the STAR not the STUFF in it. So with the information I c...
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By Russ Msrtin, Residential Mortgage Advisor
(Perl Mortgage)
With all the press coverage about sub-prime lending and the impending housing bubble (if there really is one), it was only a matter of time before the politicians started licking their chops and proposing brilliant plans in order to win votes. I am hoping that real estate industry is not beyond the point of no return. Our industry’s lack of long-term thinking and focus on maintaining the status quo will most likely result in changes that will be damaging for the business and consumers alike. When we don’t self-regulate our ranks, the "gubment" will step in and do it for us and we all know what happens when politicians start legislating on things they know nothing about. One only needs to look at the fiasco in Chicago with the poorly thought out HB4050 legislation. The last thing we need...
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I happen to know among clients, home selling professionals, developers and stagers that there is controversy swirling around this very hot topic.  It seems like everyone is chiming in on one side or the other, having a very strong and opinion on the subject. However, some of these negative opinions I feel are quite prejudiced. I feel all these people are misinformed and it is their ignorance that propels the myth and controversy that surrounds the "R" word. Quite recently, we lost a client because we decided to start using the ugly "R" word. THIS got my blood boiling. NOW I am on a crusade to... Stamp out the ignorance! Stamp out the prejudice! And end, once and for all, what is been wrongfully labeled as "BORING" and "UGLY"... that is Rental Furniture! To begin to put an end to the Ren...
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By John Marlow, John Marlow
(Foxhall Investments)
In Chicago it is extremely common to have a catered event to help promote the sales of units in a new development.  Some parties are more extravagant than others.  I went to one this winter in a giant tent with a DJ, a saxophone player, and 4 go go girls dancing on boxes.  Crazy stuff.  Memorable but the taste factor there is questionable.  They were not professional ballerinas by any means; they were dancers and I imagine they were probably hired off an ad on craigs list.  Makes you wonder where the line should be drawn.  But I digress.Gourmet food, and drinks are pretty standard for a party like this.  The main idea for developers throwing this party is to get a bunch of realtors and prospective clients in one place, talking about the development.  A clever device I have seen is locat...
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By Robert Darrow
(Keller Williams Realty Professionals)
Your guides play host to a wide variety of international visitors as we are members of an international travel club called The Hospitality Club as well as hosting relocating job transferees in our capacity as Realtors. One fantastic aspect of Chicago is its ever-growing collection of world-renowned outdoor art. I think this guide is a bit limited but if you were to try to view all the art described in this article it would surely take longer than a full day. Readers that notice any omissions are welcome to post a comment. You can't go wrong by simply starting out with a walk through Millennium Park. You'll first be drawn to the large bean shaped "Cloud Gate" sitting on top of the concessions along Michigan Avenue. By combining distorted images of spectators and their surroundings, the p...
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Here in Chicago, the Bucktown area has risen up to be a beautiful renaissance neighborhood. Just about 10 years ago it wasn't much to look at. However due to its close proximity to to downtown, builders came in tore out or rehabbed much of the old and built new. NOW Bucktown is one of Chicago's trendiest and vibrant neighborhoods.Because builders saw such opportunity and possibility... more and more came and built and built (and are still building actually) so the levels of inventory rose and rose and continues to rise. Unfortunately that creates a challenge. How does a seller, who originally bought new construction a few years back, differentiate their home from all the rest for sale? THAT is where this staging story starts.At the beginning of the year one of Chicago's "hippest' and mo...
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By Mr. Whyte
(whyte house Properties)
Gentrification has caused investors to flip the investing coin. Rehabber and developers have swarmed the Southside (Bridgeport, Back of the Yards, Chatham, South Shore, Englewood, Bronzeville) looking to flip a house for a chunk of change.  As we all know, what they've done is jacked up the prices. Now unless you're an investment group, have a line of credit or GOD it's difficult to realize a decent profit in south side market, on the front end.   So with the limited possibility of making minor updates and flipping to make a quick 70 to 100K new investors have the option of (1) following the innovators to the Westside and pray that there's a property left to be flipped or  (2) be innovative and realize the other side of real estate investing coin:  the back end... or simply, appreciatio...
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By Jeff Procopio
(American Invsco)
American Invsco will be having a developer's open house for the townhomes at the Millennium Centre, 33 W. Ontario next Tuesday, Feb. 20th from 12-3pm. It will be a catered event. Please RSVP me if you'd like to attend. Please visit the website www.millenniumcentrecondos.com , click on "Developer's Reserve" in the upper right, then click on "Skyview Home". You can see the virtual tour, etc. There's nothing like these townhomes in the city. All four of these can be purchased.Best regards,Jeff ProcopioResidential and Investment Sales ConsultantAmerican Invsco Realty at Plaza 440440 N. WabashChicago, IL 60611Work: (312)-595-4662Fax: (312)-494-0449Cell: (773)-727-8913www.americaninvsco.netwww.invscorealty.net
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By Jeff Procopio
(American Invsco)
Century Tower is located in the heart of Chicago in the world-famous Loop. We are offering a 'Master-Lease' developer incentive program. As the investor, you would choose from one of the packages:   Program A: 24 months of assessments paid directly to Condo Association 12 months of paid taxes   Program B: 12 months of assessments paid directly to Condo Association 12 months of paid taxes 12 months of mortgage payments   Program C: 18 months of assessments paid directly to the Condo Association Classic Build-out package   Program D: Elite Build-out package   *3 Bedroom Incentive Only* Elite Build-out package 60 months of assessments paid directly to the Condo Association   **Investors Only** 17 months of assessments paid directly to Condo Association 17 months of paid taxes 17 months of ...
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Millennium Centre, American Invsco's 60-story residential high-rise building. On the 14th floor, there are customized townhomes available that you do not find in high-rises, period. These are raw spaces ready to be developed. Right now we have 4 listed: 2 @ $1.2 million (Tri-level, 3-bedroom, 2.1 bath, solarium, 2 deeded parking spaces, 4400 sq ft, private elevator, pool) and 2 @ $1.35 million (Tri-level, 4-bedroom, 4.1 bath, solarium, 2 deeded parking spaces, 4500sq ft, private elevator, pool). However we are entertaining all offers. From what I understand, the most recent finished unit that is on the market was built out at around $400K and is now listed at $2.85 million. This unit will be available for preview. Do the math: $1.2million purchase price + $400K to build out = $1.6 milli...
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River City is our South Loop development, located at 800 S. Wells.  Again, as the investor, you would choose from one of the following program:   Program A 36 Months of assessments paid directly to the Condo Association 12 Months of taxes Approximately $40,000 in upgrades $10,000 bonus to buyer if closing is within 30 days of contract execution (limited time offer) 3 years of free parking   Program B 24 Months of assessments paid directly to the Condo Association 12 Months of taxes 24 Months of rental income Approximately $40,000 in upgrades $10,000 bonus to buyer if closing is within 30 days of contract execution (limited time offer) 3 years of free parking   Subject to change without notice. Go to www.rivercitycondos.com/
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By John Marlow, John Marlow
(Foxhall Investments)
Want to stay on top of what is new and for sale in the West Loop of Chicago? You have 3 options -1.) Search the MLS on a MLS search site like Helios MLS Search2.) Find an agent and have them send you listings as they come on the market3.) Visit broker announcement websites like Advantage Chicago to hear about new properties that are being promotedUsing more advanced searching tools will pay off in the long run.Cheers,Johnhttp://westloopcondos.blogspot.com/ 
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