Wednesday, November 30, 2011

For Rent in Old Town: 4,000 sq/ft true penthouse with spectacular roof deck

The skyline view from 1438 W Wieland private roof top deck.
Private full roof top deck



Living room facing east

Living room, dining room

Great room

Master bedroom
Penthouse level leading to large terrace
$5,500 a month. Executive space. Heart of Old Town! Spectacular and wide 3 level penthouse over 4000 sq/ft. Private elevator, 4 bed rooms, 4.1 baths, 2 family rooms. Huge living/ dining Rm, 4 fireplaces, 3 decks, private roof deck w/360 views, 2 balconies=1,500sqft of outdoor space. Granite and stainless steel kitchen, marble "his and hers" baths, wet bar on penthouse level, attached garage for 1 car, pad for 2nd car. Close to train, Second City, Zanies, Top-rated restaurants, boutiques & all that Wells Street, River North and Gold Coast have to offer. On the doorstep of downtown. Owner is licensed broker in Illinois, however, not the listing agent.


Call Eric at 773-510-1597.  Available January 1st.  One month's security deposit, strong credit.  Pets OK with owner approval, prefer one year or more lease (possible shorter term with premium). 48 HOURS NOTICE please.

Lakeview "Palatial Manor" now a short-sale at $1,449,999

1725 W Belle Plaine Avenue in far north Lakeview is now listed as a short sale at $1.5 million.  The stark castle-like brick extra-wide home has garnered attention in the past for it's unique and vast design in this North Side location dominated by frame Victorian and "Queen-Anne" style homes on leafy lots.  The homes are mostly original or renovated with a handful of new construction.


You can view the property photos here.





This is a green, leafy attractive area located between West Irving Park Road and West Montrose Avenues where Lakeview meets the Ravenswood neighborhood east of North Ravenswood Avenue.


Here are a few photos I took a while back of homes on the nearby blocks.
A nicely renovated house around the corner


Another luxury new construction home more traditional to the surroundings
If you have questions concerning homes in the area, please contact us directly.

More Lakeview posts here

Foreclosure deal: Andersonville contemporary single family home $699,900

1708 W Winnemac pictured on the right is now a foreclosure sale for $699,900
It's generally rare to find contemporary to modern style single family homes in the Lincoln Square and Uptown Community Areas. It's certainly more rare to find a good sized contemporary home in excellent condition for under $700,000.


1708 West Winnemac is a single family home foreclosure now listed at $699,900 by Chicago Realty Partners (a professional firm that's a pleasure to do business with). I've always liked these twin contemporaries on the 1700 block of West Winnemac...where the Ravenswood neighborhood meets Andersenville.  At the end of the day, the openness and clean lines are more my style. These homes feature a terrific loft-like room at the top level and rear of the house that has wow factor. That room would be my wow office.


The old water tower at the south end of Andersonville

This is an excellent value.  The location is at the foot of the fantastic Andersonville retail and restaurant district. To view the home with a qualified buyer's broker from the neighborhood, please give me a call at the contact information in the side bar.  This is not my listing, however, I feel it is a good fit for someone who would like a more modern style home in this quiet location that's near the action.

Tuesday, November 29, 2011

Buying local at Gene's Sausage Shop, Lincoln Square

Gene's Sausage Shop in Lincoln Square is a must stop before holiday parties. Wine, beer, deli, prepared foods and European flare will make gift giving and house warming easy.

State Farm in Lincoln Park bringing sexy back... to insurance?

Bob snaps a photo of "Next Door" on our last warm day of the fall.
We like the modern facade and interior of State Farm's pseudo community space "Next Door" where Lakeview meets Lincoln Park.  The cafe concept is both a full functioning coffee shop and community business center.  State Farm offers free financial "coaching" classes which many of these local young patrons could benefit from.
















The cafe/ community center is part of the thriving commercial strip along West Diversey Parkway, home of the crazy popular Trader Joe's Grocery, between North Halsted and North Clark Streets. The area is as young, vibrant and as fully rented as we've ever seen it over the past 10 years or so.


Click for more Lincoln Park and Lakeview posts

Monday, November 28, 2011

Lincoln Park multi-unit building sales in 2011 (two, three and four flats)

 It's been a very tight and competitive market for Lincoln Park multi-unit buildings this year so far.
Vintage multi-units along North Halsted in Lincoln Park


Where have all the two flats gone? Only 7 two-unit buildings have been sold in Lincoln Park this year from January 1st to November 1st, down -46% from 13 sold last year same period. 


The median price was only $300,000, down $100,000 from 2010... which suggests that most buildings were in bad shape, not choice locations or small lots for Lincoln Park. The number of unit sales is a little lower than expected considering all the renovations and new construction build going on.



17 three-flat buildings sold this year from January 1st to November 1st, up +54%.  The median price was about $600,000.  In 2010 same period, 11 three-flat buildings sold with a budget busting median of about $960,000.


Multi-units in East Lincoln Park



Only 2 four-unit buildings were sold thus far in 2011.  They varied greatly with one building being all one bedrooms for $557,000, and another having one, two and three bedrooms units for $1.1 million. 10 four-unit buildings sold in the same period in 2010 with a median of $1 million.


All building sales counted were structures on single lots (of various sizes).  All statistics gathered from MREDLLC.com and analysis by Eric Rojas, Real Estate Broker. All photos Eric Rojas and Bob DePalma, Real Estate Brokers.

More of our Lincoln Park information, property tours and market statistics HERE

Saturday, November 26, 2011

Views of Lincoln Park 2520 from West Wrightwood

Photo Bob DePalma, Real Estate Broker

You can catch glimpses of the Lincoln Park 2520 development from all sorts of locations on the North Side.  Here's the views looking east down West Wrightwood Avenue and North Halsted in Lincoln Park from winter last year (above) and from this fall (below).
Photo Eric Rojas, Real Estate Broker


More Lincoln Park information, home tours and market statistics here

Friday, November 25, 2011

Lakeview lot adjacent to Wrigley Field for sale (again) at $9.9 million: Theo, Tom?

The scoreboard at Wrigley Field. Photo Eric Rojas, Real Estate Broker

 Only "apprx 536 ft from home plate" of Wrigley Field this property at 3710 N Kenmore in Lakeview's Wrigleyville has "special zoning rights" according to the listing on MREDLLC.com. The listing also states the lot is 40x50 and zoned RM-5 (3 1/2 to 4 stories).  According to our MREDLLC.com MLS, the property had been listed for $5 million in 2007 and $8.5 million in 2009.


A lot is for sale at Waveland and Kenmore across from Wrigley Field.
Maybe the Cub's will finally grab a lot next to their own ballpark!  At $9.9 million asking (it's highest yet), the owners of the property are expecting great things from the Cub's new ownership group and THEO!


Wrigley Field photo Eric Rojas, Real Estate Broker




More Lakeview information, home tours and market statistics HERE

Two "luxury" foreclosures on Burling in Lincoln Park could come to market soon

Foreclosures on 2600 block of North Burling, Lincoln Park. Photo Eric Rojas, Real Estate Broker
 Two adjacent lots on desirable North Burling Street in Lincoln Park have seen better days. They are both now stalled new construction single family homes in foreclosure.  2653 N Burling on the left of the photo was last bought for $802,500 in 2004 and now shows a Lis Pendens Foreclosure recorded in June 2010.  2651 N Burling on the right sold for $895,000 in June of 2006 and shows a foreclosure recorded in December 2010.  Both property records are on the Cook County Recorder of Deeds web site. A similar new construction home on the block is for sale at $2.5 million.



With the bank foreclosures filed over a year ago, these unfinished single families homes could be coming to market in the spring 2012 or sooner. We have seen most Lincoln Park foreclosures of this nature come back on the market quickly once the bank has taken possession. With top local developers in hot competition for great locations theses should not be difficult for the banks to sell.  The single family homes are located in popular Alcott School boundaries as well.

Photos: Private, secluded roof decks a premium in Gold Coast

Photo Bob DePalma, Eric Rojas Real Estate Brokers
With outdoor space at a premium in the city, these private Gold Coast roof decks caught our eye!

Photo Bob DePalma, Eric Rojas Real Estate Brokers


There may be no other greater "X Factor" in selling a home for top dollar than outdoor space. Have your outdoor space looking as good, or better, as the interior to receive the highest purchase offers. It will sell faster and for more than the competition.

Wednesday, November 23, 2011

Photos: Crain's reporting Belden-Stratford sold for almost $60 million

The Belden-Stratford looking south

Crain's is reporting one of our favorite spots has been sold.

The Belden-Stratford Hotel and Apartments is located in one of the prettiest and most cosmopolitan spots in Lincoln Park, Chicago. We love taking our out-of-town guests to the Mon Ami Gabi patio or L2O for fine dining. Both restaurants are housed off the grand lobby of the hotel. The parks and lake to the east along with the upscale urban setting keep us coming back.


Some speculation in the story suggests that all the units may be converted to apartments due to rising rents.  Although a great investment for the owners, it would be a shame for our city guests to lose this hotel. This is one the best locations to stay in Chicago outside of the downtown area. The sprawling parks, zoo, restaurants, bars, the lake and great architecture surround the Belden-Stratford.



The Belden-Stratford looking from the southeast




The patio at Mon Ami Gabi in the Belden-Stratford...what a great spot!
More Lincoln Park information, market stats and home tours here

Downtown Photos: Christkindlmarket in Daley Plaza

Pancakes or sausage guy?

Bob took some preview shots Monday of Christkindlmarket in downtown Daley Palza after attending one of our closings.  To his dismay no sausage was being served at that time.

Christkindlmarket Chicago is open today!
It makes a great happy hour!






The tree next to Picasso!

Warming houses at Daley Plaza

Final set up for Christkindlmarket

Santa's House!


Monday, November 21, 2011

Urban "infill" new construction is top dollar in Lincoln Park

We've noticed quite a few "urban infill" new construction multi-units being built around Lincoln Park and Lakeview.  With land prices less expensive these once ubiquitous new condo buildings are once again profitable, not to mention, popular with buyers.  We snapped a photo of 823 W Wrightwood Friday, a new construction three-flat condo building marketed by another broker.  According to MREDLLC.com the first floor three bedroom duplex-down unit is under contract with an asking price of $819,000.

The new construction duplex down at 823 W Wrightwood is under contract
A similar duplex down re-sale unit in this location built even three years ago would probably fetch 10% or more less than a new construction unit.


Location! We love West Wrightwood Avenue in Lincoln Park.  It's central to so many things to do, close to transportation and parks and full of newer construction single family homes and condo buildings that work well together aesthetically. 


Wrightwood Neighbors Association is an excellent group that features events and information for neighbors west of Halsted Street. It's also home to our favorite Starbucks at Wrightwood and Racine near our office!



New construction three-flat buildings like 823 Wrightwood or 6 to 12 unit new construction elevator buildings continue to get a premium over very similar re-sale condo units in the same type of buildings. It's our observation that you may have more new construction condo options in prime locations since the beginning of 2008.

Lincoln Square single family home unit sales up 26% in 2011

Lincoln Square Community Area continues to position itself as one of the best single family home values on the North Side with median home prices about $475,000. With the a affordable price tag and neighborhood great amenities, single family home unit sales were up 26%. Most of the community area is close enough to downtown by CTA Brown Line and Metra, awesome parks, retail and restaurants, good access to highways, good school choices and lots of free activities.

One of two play lots at Welles Park in Lincoln Square

68 single family homes closed from January 1st to November 1st in 2011 with a median price of about $475,000.  This is about 26% higher than 2010 sales of 54 homes sold during the same period. Median price slipped a bit to $475,000 from $515,000 in 2010, same period.




The Highs: The highest priced home closing was 2131 W Agatite for $1.7 million.  The home is a brand new luxury construction build on a 37.5 feet wide lot.  The leafy location is tucked just steps from popular Welles Park and Sulzer Library. Six homes closed over $1 million in Lincoln Square so far. Eight homes closed for over $1 million same period last year.


The Lows: The lowest priced home closed was $100,000 for a foreclosure house at 5141 N Western Ave.  Western is a busy four lane major artery road. However, the actual location is close to the desired Lincoln Square retail and restaurant mecca thus the home has been gut renovated and placed back on the market for sale.The lower sales on average tend to be on Western Avenue, Foster Avenue and south of Foster Avenue.


Distressed: 10 single family homes out of the 68 sold were either short sale of foreclosure (bank owned, REO) sales.  From our research, this is a higher percentage than some adjacent neighborhoods to the immediate south. 


We love finding values in Lincoln Square.  If you have questions about the community and the available properties, please call us at 773-510-1597.
More Lincoln Square posts here!

Saturday, November 19, 2011

Story: Lincoln Park businesses brace for Children's Memorial Hospital move

 A good article by Tyler Davis at ChicagoTalks.org addresses the business impact of the Children's Memorial Hospital move.  It's a good primer on the hospital move and features some useful links to neighborhood groups involved.
Main campus building for Children's Memorial Hospital at Lincoln and Orchard.



The relocation and redevelopment of the Children's Memorial Hospital site is a concern in Lincoln Park any way you cut it.  My wife is a 10 year RN and now Director at the hospital.  My office is located a couple blocks away.  We've been going to the area restaurants, bars, booking holiday parties and using nearby services for many years due to the Children's location. Many employees also choose to live very close to the hospital as well and go to area businesses every day.


It will be years before new retail and residential housing adds population density. My wife and I will have new routines and visit more businesses in Streeterville and less in Lincoln Park as a result of the hospital move. The hospital has had a large impact on the residents, employees and businesses and it is really an unknown how its absence will impact each individual.


More Lincoln Park information, stats and tours here



Friday, November 18, 2011

Dramatic art at Belmont Red Line station highlights pedestrian safety

"One of 32 pedestrians killed last year in Chicago "




Bob took this photo from the CTA Belmont Red Line station yesterday.  As heavy walkers, riders and users of public transportation, the bad behavior by both drivers and pedestrians around Chicago is upsetting.  Particularly, the use of cell phones while driving, riding and walking through intersections. As a busy full time Real Estate Broker, I can tell you we have no reason to use our phones while driving.  It can wait.


Slow down and look up people.

Wright's Gold Coast "love shack" gone for good

Only a birdhouse now remains at 25 East Cedar. Workers repair the adjacent property brick.



We've been posting updates and photos of the significant property at 25 East Cedar in the Gold Coast.  The home was associated with Frank Lloyd Wright.  Not that he designed the late 19th Century coach house it, but it's mentioned as a place he shacked up a bit. The existing structure has now been torn down completely despite some speculation that some of the facade may be retained.


More significant in our eyes is the fact that someone snapped up this "location of all locations" at 25 East Cedar for about $1.5 million early this year and is now building a custom home in the heart of the Gold Coast.


Here are the photos we've taken over the past 6 months.





Birdseye view of 25 East Cedar deconstruction




The lot at 25 East Cedar lot is prepped for construction


An homage to Wright has been erected in the parkway of 25 East Cedar


LOCATION! Steps from Mariano Park, Carmichael's and Gibson's.  Oh, and the lake too.



Thursday, November 17, 2011

Lakeview new construction: North Halsted Street gets a facelift

We've been talking a lot about the continuing new residential construction that picked up this year.  As a result, one black eye on the 2800 block of North Halsted is no more. The empty, gaping lot between completed Halsted Row condo buildings finally has it's own building going up 4-5 years later.  These smaller 8 unit buildings offer some luxury amenities like elevators, heated garages and interior bling at a discount.


The existing Halsted Row development was completed circa 2007 (maybe a bit earlier).  Two sales have recently occurred at the 2847 N Halsted building.  Unit 403 is a top floor luxury three bedrooms unit with huge rooftop deck and three garage parking spots that sold for $580,000 in August.


Unit 203, however was listed as bank owned (foreclosure) and the last unit available (never lived in). The three bedrooms, two baths home with two garage spots sold for $430,000.  Both units featured higher end JennAir and Bosch appliances. 





We often show and sell units along this stretch of North Halsted in Lakeview and Lincoln Park.  Our office happens to be a block from these particular buildings shown. Living on Halsted Street can be a little loud and busy.  However, you can buy an elevator building with heated garage parking for a good discount off residential streets nearby.  The location is fantastic for those that want walkable amenities, public transportation and the lakefront. And...they are new, or newer, construction.  This is must have for many buyers and they will pay a premium.


Halsted Row looking north.  The second building in is finally getting built.



The new buyers on Halsted will get a nicer street too!