Thursday, May 05, 2016

Huge Lincoln Square Sears store is closing and I have the perfect development

The Sears building

Patty Wetli of DNAInfo reports today the Lincoln Square Sears will be closing.  Considered the nations oldest Sears housed in a vintage building the potential development will surely be the subject of great controversy and anticipation.

Let me be the first to pitch the site for the Lucas Museum of Narrative Art. It's a totally uncontroversial location, great Metra and CTA access and cost effective.  Just add a couple floors.

Get it done Ameya!

Wednesday, May 04, 2016

Quick Stats! Lake View single family home sales down 27% Q1, 2016, dollars down 38%

Lake View 2016 First Quarter Single Family Home Sales (Chart generated by Eric Rojas and Bob DePalma from data).  Click for larger image.
We spend a lot of our time looking at data for our clients.  It's also interesting to take a macro look at Chicago's community areas we work in to identify trends for buyers and sellers.

The popular and diverse Lake View Community Area of Chicago saw a 27% drop in closed single family home (detached) units in first quarter 2016. In 2015,  29 units closed in the first quarter of the year.  21 single family home units closed in 2016. 

Total dollar volume is down about 38% in first quarter 2016. $42,314,735 exchanged hands in 2015 while $26,421,200 was spent Q1 on single family homes in 2016.

Lake View 2015 First Quarter Single Family Home Sales. Click for larger image.
Median price is down about $100,000 year to year according to our sales stats above.  Housing economists have sited high home prices for the slow down in volume as some motivated buyers are priced out of popular markets.  This should act as a plateau in pricing for some markets.  Prices will have to loosen up a little to see unit sales creep up. It's a bit of a cautionary tale when pricing re-sale homes this season.

Renovations well underway at the Merchandise Mart

Bob caught a show at the Merchandise Mart in River North over the weekend.  A series of renovations are under way.  The Merchandise Mart is one of those staple Chicago institutions ever changing to meet the needs of retailers, customers and visitors.

Don't worry, food's over here!

Tuesday, May 03, 2016

Rare find at a house showing

We viewed a home in Lincoln Square last week with our clients.  The house had been mostly cleared out save for a few odds and ends.  We were taken aback by this classic 1920s or 30s baby carriage!

New retail progress for Oromo and Orange-theory Fitness in Lincoln Square

I had a little business to attend to on the main commercial strip of Lincoln yesterday afternoon.  Oromo Cafe is coming along nicely at 4703 N Lincoln Ave near the Lincoln and Leland bend.

New construction retail at 4728 N Lincoln Avenue across from Giddings Plaza. A mixed use three unit building was torn down to make way for new one story retail.  I wish they kept apartment units above.  Orangetheory Fitness  is moving into the retail space.  All photos Eric Rojas, Broker, Kale Realty.
A newer construction three bedrooms condo unit across the street at the Fountain View building (2326 W Giddings) is currently under contract with an asking price of $529,000.

Monday, May 02, 2016

Under contract! Vacant lot listing in North Center finds a buyer

1801 West Cuyler is a vacant corner lot in North Center's Coonley Elementary School district.  The lot can be developed into a single family home, used as a yard or possibly combined for a larger development. 
Our rare vacant lot listing in coveted North Center of Chicago is under contract. The purchase contract is in attorney review. 1801 West Cuyler was priced at $249,000 at the time of the offer.

Check out the video of the property!

Lincoln Square: St. Matthias Itty Bitty Kick-Ball starts next week!

4910 N Claremont, Lincoln Square

St. Matthias School Itty Bitty Sports sessions include basketball, soccer and kickball on Sunday's throughout the school year. Photo Eric Rojas, Broker, Kale Realty
St. Matthias Itty Bitty Sports are a fun and inexpensive way to get the kids in a gym for exercise.  You do not have to be a student of the school to participate. Sign up at the link! 

If you are looking to buy or sell homes in the Lincoln Square or surrounding communities please give us a call or email!  

Thursday, April 28, 2016

Friends of Amundsen High School, Winnemac Park awarded Chicago Cubs $100,000 grant

Several ball fields at Winnemac Park can use a replay. Amundsen High School uses Winnemac Park diamonds for baseball and softball. (Photo of the northwest baseball diamond with Amundsen in the background, Eric Rojas, Broker, Kale Realty).
Patty Wetli wrote a nice piece on a $100,000 grant awarded to Friends of Amundsen to rebuild one of the Winnemac Park baseball diamonds. Neighbor and friend Stephen Reynolds worked for two years to bring home the grant that benefits all the park going public.

The southeast baseball diamond at Damen and Argyle will be refurbished using the Chicago Cub's grant. It's used for Amundsen Softball and Welles Park Baseball among other leagues.  Stephen Reynolds of Welles Park Parents Association baseball was instrumental in bringing "fall ball" to the Winnemac diamonds. All photos Eric Rojas, Broker, Kale Realty.
Neighbor and hero Stephen Reynolds pictured in center at the first day of fall ball in 2013. All photos Eric Rojas, Broker, Kale Realty.
Welles Park baseball has made Winnemac Park a virtual family fest on fall weekends while Friends of Amundsen has won big funds and support for our local high school students. The park has never been busier with activity. If you want to be a part of this thriving and rapidly growing Lincoln Square neighborhood just contact me!

Evanston single family home sales update, median price up $100,000 year to year

A gorgeous chalet style home on the 2100 block of Lincolnwood in Evanston, IL (not for sale) is just one of 100s of gorgeous houses in this leafy section of the Lincolnwood Elementary School district. All photos Eric Rojas, Broker, Kale Realty
We've been searching aggressively with our clients for a single family home in northwest Evanston that will meet their family needs. At least three bedrooms, a guest space and home office are major criteria.  It comes with a price well over $600,000.  Evanston is a large and diverse housing market however. Let's take a look at overall Evanston home sales this year.

Evanston single family home sales January 1st to April 27th, 2016
111 single family homes have closed thus far in 2016. The median price of a sold home is about $475,000.  The highest priced sold home thus far is 725 Roslyn Pl , Evanston, Illinois 60201 for $3,950,000.  The home sits on 140 feet of Lake Michigan frontage.  The lowest sold home is a foreclosure sale at 1327 Dodge Ave , Evanston, Illinois 60201 for $108,000.  The small frame two bedroom home is in need of major renovation.

A whopping 101 homes are currently under contract with a median asking price of $539,000. Prices are definitely trending higher this year.

We viewed this classic located near Ryan Field in northern Evanston.  The attractive but very dated home priced at $589,000 went under contract in a couple days after listing.
Past sales
In 2015, 108 single family homes sold over the same period with a median price about $372,000.
2014, only 81 homes sold with a median price of about $440,000.
In 2013 there was a spike of 121 sold homes with a median price of about $475,000 over the same four month period.
2012 saw 98 homes sell with a median price of about $415,000.

We'll be sad to see our Chicago neighbors and friends go. When shopping these Evanston beauties who can blame them?

Monday, April 25, 2016

Under contract! Our North Park condo seller gets "offer you can't refuse"

The well appointed kitchen at 5420 N Kedzie #3E (all photos Eric Rojas, Broker, kale Realty by
Our newest listing has found a buyer in the first day of showings. "An offer you can't refuse!"  5420 N Kedzie #3E was listed on Friday for $237,000 and first showings of the tenant occupied unit were scheduled for Sunday.  That's all it took for this attractive newer construction unit across from the state's perennial Top 3 high school Northside College Prep.

East facing exterior features a large balcony off the living room.

5420 N Kedzie #3E, Chicago IL 60625 listed at $237,000
Wow! Sharp newer construction three bedrooms condo across from Northside Prep (Illinois #1 high school) in North Park. This bright east facing condo has all the extras! Elevator, garage parking (plus tandem spot), big terrace, gas fireplace, organized closets and storage unit. Upgraded kitchen has tasteful finish level and breakfast bar. 

Large bedrooms including enormous master suite with walk-in closet, double vanity bath, separate tub and huge shower. Open living and dining floor plan leads to a great front terrace. Mechanical and finish level upgrades! Easy to 90 and 94 highways, Kedzie Brown Line stop and close to Lincoln Square. North Park University, Northeastern Illinois University, Legion and River Parks all steps away. Discover this great neighborhood and live the good life for less!

Exclusive listing by Eric Rojas, Vice President/ Broker
Kale Realty 
542 W Roosevelt Road
Chicago IL 60607
 Call us to buy or sell your next home... don't be a day late and dollar short!

View overlooking the North Park neighborhood of  Chicago