Executive quality rental in Old Town: 4000 sq/ft, four bedroom, roof deck $6,000

Downtown views from Wieland Street in Old Town... and your rooftop deck.

1438 N Wieland #2 for rent asking $6,000 per month.Four bedrooms, four and one-half baths, two family rooms, garage parking and one outdoor parking space, elevator, private roof deck...huge.

A Realtor partner of mine has her property for rent in Old Town. My wife and I love this place and could use the extra room for our au pair coming next month. She could have her own self contained apartment upstairs! Alas, a little rich for our blood to sell our place and scoop this up, but maybe you've had a better year and can live the good life while renting.

Please contact me for more information and for a viewing. Great space for a family and a tony address for your lifestyle of dining, entertaining and "must have" proximity to donwtown.

Ravenswood development update: Sears parking lot re-development round two

New lot same as the old lot? As of now, that is.

There has been a small spike in news and interest surrounding the proposed Sears lot development in my beloved Ravenswood, Chicago. We may be nearing a new community meeting with updated developer plans. Last I checked with the Alderman's office this month, there was no date for a meeting but I'm hearing rumors we are getting close.

I was quoted in an article by www.ChicagoTalks.org as seeing the proposed 11 story building as "weird". I may have said "weird" among other things, but mostly I am supportive of a 5-7 story building and interested in how they will fill it. Market rate sales? Rental? I believe we can support a larger, new construction building in Ravenswood in the coming years if the price is right to consumers (rental or sale). However, we know of a couple empty lots sitting where new construction 12-14 unit condo buildings were to be built at the 4900 block of North Damen and the lot at West Wilson and North Ravenswood shown below.

But a transit oriented development at the Metra station with retail and parking garage is a different bird all together. I do not think inventory is greatly available or readily affordable near the transit in Ravenswood... so, shiny new rental units with built-in retail (i.e. a full service grocery store) in a desirable central location on Metra makes sense.

If they were to build a 6-11 story building for condo retail sale, pricing couold be slightly higher than the Catalpa Gardens development in Edgewater . They recently slashed prices and sold a great number of units in a short period of time. The Sears lot development location is more desirable in my opinion, but the gurus in charge of projecting pricing should be wary of recent mid-rise and high-rise price reductions and auctions that have helped set market pricing around town.

Please see my lasts posts about the development for other concerns from the community by clicking the links below:

Ravenswood new development in Searr/Metra parking lot

NIMBY or not, Ravenswood development ruffles feathers

Southport Corridor Jewel coming along...sort of

I took this shot of construction progress from my truck while driving south on the 3600 block of North Southport Avenue in Lakeview. The new Jewel Food Store is slated for fall 2010. Even though I live in Ravenswood, I would stop at this location often for a cheap lunch or other items while criss-crossing the north side.

Having a grocery store within a few blocks walk may be one of the more underrated amenities factored in when searching for a home. I'm not sure I hear that in my Top 5 "must haves" from clients... or maybe it's already under the umbrella of "good location". Southport Corridor is a highly desired and relatively expensive area due to amenities like a central grocery store. The area definitely deserves an improvement over the old Jewel.

Click here for other Southport Corridor posts

Albany Park, Ravenswood Manor two flat for sale: now $430,000!

I'm bringing sexy back at 4735 N Whipple, a large two-flat building on the Ravenswood Manor and Albany Park border, at $430,000. This is a $45,000 price reduction. The numbers work great on this type of deal.

Live in the large three bedroom unit upstairs and rent the bottom two bedroom for at least $1,200 a month. Both floors are renovated and move-in ready.

*Take advantage of higher FHA loan limits NOW before they change at the end of 2010.

*Take advantage of the first time buyer's tax credit of $8,000, or current owners tax credit of $6,500 if you qualify.

Click the photo below for more details.

Now THAT'S sales

Many of you have seen this advertisment leaving the Webster Avenue emmissions testing facility. Can't beat old school ad placement.

Chicago home sellers should understand buyer's tax credit

Home sellers should take advantage of the first time buyer's tax credit extension.

My number one goal this November and December is to reach out and touch every past client and future client and make them aware of one thing (at least): If you're going to sell your home next year, try to be on the market January 2nd, 2010. Or now!

I was just at a wedding where some guests told me they took their under $300K condo unit off the market in September this year after only 3 months on the market...September! We just had one of the most active third quarters in real estate since forever helped by the original first time buyer credit deadline of November 30th... and they were getting a ton of showings. Despite some understandable reasons, they blew the best time to be on the market...at the deadline when people could come back to make a decision.

Don't let this happen to you. If you do not get your place ready and on the market as soon as possible, the new April 30th deadline will come and go before your Holiday Hangover subsides. I'll have more details in upcoming posts, but email/call with questions on how to get your place going. Take a shot!

Thanks

Top Banana Award! What's the most expensive condo in Old Irving Park?

After a recent purchase transaction with a client in the Old Irving Park neighborhood of Chicago, I got to thinking.. What's the most expensive condo in Old Irving Park? Someone has to be "Top Banana", so let's take a look.





Irving Park is one of the 77 Community Areas of Chicago. Old Irving Park is a popular neighborhood within the community... great for families and commuters. From the Old Irving Park Association web site:


Old Irving Park neighborhood boundaries are those of the original two farms developed here in the 1870's: Addison on the south, Montrose on the north, Pulaski on the east and the Milwaukee Road railroad on the west (approximately Kilbourn/Kolmar). This historic and architecturally diverse area is conveniently located to two Metra stops, the CTA's Blue Line subway to downtown and O'Hare airport, and the junction of the Kennedy and Edens (90/94) expressways.

The most expensive condo (or attached residential property) is 3711 N Milwaukee Unit 6 UNDER CONTRACT at $515,000 (click the link for photos). The original list price for this 3 bedrooms, two and two half-baths town home style residence was $574,900 and shows a larger than life 420 days on the market on our local MLS. However, it shows an under contract date of 5/20/09, Hmmmmm. Did it close yet?

No matter; it's still Top Banana in Old Irving Park Chicago.

The runner up is a four bedrooms, two and one half-baths attached row house at 3710 N Kostner for $499,000. It's listed as a short sale and is now under contract as well. High end condos and attached units in Old Irving Park are selling well apparently.

The highest priced attached home in the Irving Park Community Area is on the eastern end of the community at 3938 N Fairfield Ave (click the link for photos). This four bedrooms, three and one-half baths town home is all yours for $699,000.

Southport Corridor and Graceland West: Lakeview Open Houses

The weather should be good this weekend. You can find me on the terraces and decks of other people's homes this weekend.

I will host an open house in Lakeview's Southport Corridor at 3616 N Janssen #1N Saturday 11/7/09 from 12P to 3P. Asking $589,500, this is three bedrooms, three full baths duplex condo with garage parking. The location in Blaine school district...and five seconds from Julius Meinl Coffee... speaks for itself. See property details below.

On Sunday 11/8/09 I will host 4110 N Southport #2 in Graceland West from 12P to 3P . This is also steps away from the Southport Corridor retail strip.

Asking $289,900 this is a two bed, one bath with eat-in kitchen and great deck. Rental parking is on site or easy street parking (seriously).

Slackers rejoice! Home buyer's credit extended, expanded

If you procrastinated your way out of this season's home buyer's credit, Congress forgives you.

You may now procrastinate until April 30th, 2010. We'll, to be safe you better get that contract signed by March 15th. My team will be here waiting for you to call for showings...on March 1st.

Check out this side by side comparison of the main components in the

Home Buyer Tax Credit (click the link)