|Seen walking home from The Atlantic|
Tuesday, October 16, 2018
Monday, October 15, 2018
|Condo associations large and small must have a written policy for disputes available to owners by January 2019. Photo VHT.com and Eric Rojas, Broker, Kale Realty|
The state's Condominium and Community Interest Ombudsperson office was formed to educate the public and provide resources for condo associations. They may also field disputes and help resolve disputes between owners and condo associations when violations may have occurred. The act requires condo associations to have a written policy for association disputes by January 2019.
Explanation of what is the Ombudsperson office (it is a real person) HERE
Office of the Ombudsman
You may read the Act here
Helpful home owners association information
|One of my older, and favorite, photos from Architectural Artifacts in Ravenswood. All photos Eric Rojas, Broker, Kale Realty|
|The cavernous interior of the Architectural Artifacts retail shop and event space.|
Friday, October 12, 2018
|Mural at 3937 North Ashland, Chicago IL 60613 in Lakeview (Photo Eric Rojas, Broker, Kale Realty)|
|Google street view|
|A new kitchen was installed at this North Center two bedroom, two bath rental. Our landlord associate offers really affordable rents for the area.|
|Freshly renovated vintage apartments in North Center. We often refer tenants to this great landlord and contractor. He refers his home owner clients to us when they need to sell. We're there for you too!|
A professional landlord, client and friend of ours asked us to take a look at some of his renovated rental units. We had lunch in North Center and then took a look at finished units. We also checked another building to consult on window and other exterior renovations. We often act as advisers and sounding boards for our many clients. In this case we even snapped photos for the rental advertisements while there.
In this case our landlord associate wanted to get a pulse of market rate rents and improvements. Even though he's a 30 year pro owning, renting and renovating real estate he still wants to hear from his trusted guys! We often work with his tenants and home renovation clients... finding their first homes or selling their newly renovated properties.
|We have been lucky enough to sell a unit in Lake Point Tower. The building is celebrating 50 years and may be viewed at this year's Open House Chicago. (All photos Eric Rojas, Broker, Kale Realty)|
Open House Chicago is here! One of the coolest events for anyone who loves the look and feel of our city. See iconic and meaningful architecture, significant blocks, inspiring interiors, important exteriors and private, rarely seen locations.
Chicago architecture reporter Blair Kamin named Lake Point Tower as a top 10 must see at this year's Open House Chicago. The event boasts 250 locations. Check out his top picks. They include Chicago Architecture Center, Poetry Foundation, Charles Deering Library, Northwestern University and more.
|Spertus Building 610 South Michigan, Chicago IL 60605|
Wednesday, October 10, 2018
|Before going back on the market we worked with our sellers and contractors to make significant improvements to the home.|
Every real estate transaction is different. This classic Lincoln Square house at 5043 North Oakley, Chicago IL 60625 with inviting front porch closed last week after multiple purchase offers. Despite enthusiastic offers over list price we had trouble closing the deal. After the first two deals did not close we advised our clients to make strategic repairs and improve the curb appeal. The result was a selling price $5,000 over the $599,900 listing price!
In this case the home seller lived out of state. The house was tenant occupied during the first attempt to sell. After they moved out we compiled a list of projects based on the home inspections and evaluation by a trusted independent contractor (including some structural work). We quickly completed the improvements and deep cleaning by managing the project daily. We sold the home the first weekend back on the market and avoided a long vacancy for the sellers.
If you are buying or selling single family homes, condos or multi-units on the North Side of Chicago and surrounding suburbs please contact us.
|The vintage former Sears store at 1900 West Lawrence (all photos Eric Rojas, Broker, Kale Realty)|
A zoning variance for Binny's Beverage Depot was shot down by neighboring stakeholders for the commercial space in the past. I think a vocational school marks a diverse offering to the community.
Tuesday, October 09, 2018
|The house to the right is an attractive renovation with a dormer. The house on the right is being sold as a tear down and will most likely be developed into a house or get a variance for a three-flat.|
Wicker Park single family home sales January 1st to October 5th, 2018
56 single family homes have sold so far this year. The median price in the Wicker Park sales area is $1,230,000. The highest priced sold home is 1753 West Wabansia, Chicago IL 60622 for $3,125,000. The lowest priced sold house is 1620 West Blackhawk, Chicago IL 60622 for $609,000.
I've seen standard city lots in Wicker Park ("tear-down/ vacant lot properties around 25'x125) selling from $470K to $550K but they are rare. Competition for a build-able lot is steep.
|Wicker Park neighborhood sales area.|
|Looking over West Town|
167 West Town single family homes have sold this year with a median price of about $990,000. The highest sold home this year is still 1753 West Wabansia in Wicker Park, Chicago IL 60622 for $3,125,000. The lowest priced home sold in greater West Town is 2550 West Thomas, Chicago IL 60622 for $270,000. The original brick single family home on a short city lot was sold for re-development. The house is conveniently located between The Empty Bottle and Humboldt Park.
Friday, October 05, 2018
|We took this photo on the weird hot Wednesday morning this week. Patio season in October!|
Talk about good real estate... About 36 condos have sold on East Bellevue over the last two years within a block of The Original Pancake House. The median price for a condo is about $524,000 and the highest priced condo sold over 24 months is $2,850,000. Three single family homes have sold within a block over the same time period from $1.8M to $7.5M.
|60 East Scott in Gold Coast has a boutique building feel near the lake. We loved listing and selling a unit here.|
Wednesday, October 03, 2018
193 single family homes have sold from January 1st to September 30th this year. The median price of a closed single family home is about $1,045,000. The highest priced sold home is 3530 North Seeley in Roscoe Village for $2,650,000. The double lot luxury custom home was built in 2011. The lowest priced single family home to sell is 2458 West Berenice for $300,000 cash. The original bungalow was torn down to build a new house (not sure if it is completed yet or if it will hit the open market).
Last year over the same period 214 single family homes sold with a median price of $1,095,000. In 2016, 180 homes sold with a median price of $1,050,000. Going back five years to 2013, 209 single family homes sold with a median price about $880,000. Sales and prices have leveled off the last three years after a large spike from around 2012 where median price was about $800,000.
|A rare row of intact multi-unit apartment buildings in North Center.|
57 small multi-unit buildings (two-four units) have sold thus far in 2018 with a median price about $620,000. Five years ago in 2013, 70 buildings sold with a median price of $575,000.
This year, 38 of those buildings are two flats with a median sales price of $560,000.
15 of the sale were three-flats with a median price of about $615,000.
4 sales were four unit buildings sold from $675,000 to $1,173,500.
|One of the first major, larger new construction condo developments in the early 2000s condo boom at the intersection of Lincoln and Damen Avenues.|
318 condo units have sold from January 1st to September 30th this year. The median price of a condo is about $430,000. The highest sold condo unit this year is 3844 North Damen Unit 1 for $960,000. The tricked out new construction duplex down is located in Bell school district. In 2013, 314 condo units sold over the same period with a median price about $349,000.
Please contact us if you are looking to buy or sell North Center condos, houses or multi-units.
Tuesday, October 02, 2018
|Peoples Gas installs a new gas meter on the exterior of my home.|
Watch as a new hole is drilled into my basement. Luckily we have an unfinished laundry room in the area where the gas meter will be placed.
In this case I welcomed the change. We get the big ugly meter removed from the interior front of my basement. Our street is scheduled to be torn up next year for the gas line replacement. Yay.
|Little West Roslyn Place in tony East Lincoln Park packs the vintage punch! The second building in to the left at 422 West Roslyn (white building with the pillars) sold in 2017 for $1,000,000 All photos Eric Rojas, Broker, Kale Realty.|
|419 W Roslyn Place, a full interior renovation, sold last year for $1,427,000|
|This pretty courtyard condo building at 444 West Roslyn has had some significant sales in the last couple years. Units have sold $330K to $900K and one unit is currently for sale at $1,035,000.|
|Amazing property at the corner of West Roslyn and North Lakeview.|
|As if the Roslyn Place block and buildings were not charming enough... gas lamps! The property in the foreground 429 West Roslyn (right) sold in 2017 for $1,245,000.|
Thursday, September 27, 2018
|A 12 unit condo building association located at 2335-2343 West Ainslie sold out to a developer in entirety. The building is getting a major remodel and will likely come back as rental apartments.|
I had shown these one bedroom condo units in the past. They are good size with a deck but I did notice the values were not coming back to what many owners had paid originally. However some owners made a good $75,000 on the investor sale due to buying the distressed properties in the building after the crash. The building is in the process of a gut renovation and the apartments will likely be rented out.
The de-conversion trend of condos back to apartments is old news to many. Often an investor/ developer will purchase all the condos in a building at a higher per/unit rate than if owners sold their condos in the open market individually. The investor then renovates and rents out the units. However, many owners struggling to sell their condos have not looked at this option with their condo association.
|The building sits across from St Matthias School. Living across from a school could be a minus for some home owners while others may like the quiet neighbor in summer months.|
Monday, September 24, 2018
|I think the additional ground floor retail and the attractive new construction office building really improves the streetscape. All photos Eric Rojas, Broker, Kale Realty|
It's all starting to take shape now. This will be a bustling strip and the little Starbucks space across the street may not cut it!
Check out the rendering HERE
|I can see the Lincoln/ Belden Starbucks currently across the street moving into one of the new commercial spaces.|
|Above is a photo of the elevator column before additional ground floor retail structures were added (below).|
Check out the towers of Lincoln Commons below located across from the parking structure and new retail.
|Here you can see West Fullerton in the foreground and the parking structure along North Lincoln Avenue to the right of the photo. The photo is taken from the challenging Lincoln/Halsted/ Fullerton intersection|
Saturday, September 22, 2018
|We sold this Rogers Park two-flat earlier this year for $355,000... $5K over the asking price. All photos Eric Rojas, Broker, Kale Realty and VHT.com.|
We recently sold a Rogers Park two-flat for an out of state client. Rogers Park is seeing an upturn in their real estate as buyers are priced out of the Edgewater market. Yet, those in Rogers Park get many of the same amenities from CTA access to the lakefront.
Rogers Park multi-unit sales (two-four flats) Jan 1st to Sept 21st
Eighteen two-four flats sold thus far in 2018 with a median price of $570,000.
Ten of those sales are two flats with a median price of $570,000.
Seven sales were three unit buildings with a median price about $570,000
One four unit building sold for only $312,000. This looked more like an old frame two flat that had some small units carved out.
Over the same period in 2017, twenty-seven multi-units sold with a median price around $533,000.
In 2016, twenty-one multi-units sold with a median price of $455,000.
In 2015, twenty-seven multi-unit buildings sold with a median price of $411,000.
Over the same period 2014, only eleven multi-units sold with a median price around $340,000.
The multi-unit segment of the Rogers Park housing market has really roared back!
Thursday, September 20, 2018
|Site of the proposed 4540 North Ravenswood in December 2016 (all photos Eric Rojas, Broker, Kale Realty).|
According to public records it looks like the property sold in 2009 for about $497,000 and sold again to the current owner/developer for $895,000 in 2017. Nice play.
Wednesday, September 19, 2018
|Our listing at 5043 N Oakley in Lincoln Square asking $599,900 is under contract and pending closing in early October.|
Lincoln Square single family home sales 2018
From January 1st to September 14th this year, 110 single family homes have sold. The median price of a sold house is $660,000. The highest priced sold home is 2121 West Eastwood, Chicago IL 60625 for $1,917,000. The new construction house features six total bedrooms, six full baths and two half-baths (eight toilets!). 5544 North California Avenue, Chicago IL 60625 for $259,000. The two bedrooms, one bath raised ranch resides on a busy stretch in Budlong Woods area of Lincoln Square. Nice deal!
- 104 homes sold over the same period last year with a median price of about $692,000.
- Over the same period of 2016, 79 homes sold with a median price of about $655,000
- Same period 2015, 95 homes sold with a median price of $675,000
Median price has bounced around a bit staying within $40,000 of the high point over four years. Unit sales have generally gone up.
Check out one of our recent sales steps from Winnemac Park with some drone footage.
Single family home sales around Winnemac Park in Lincoln Square
We sold this Lincoln Square home last year. Only a couple blocks from Winnemac Park.
In all of 2017, 28 single family homes sold in the Winnemac Park sales area (shown above) with median price of $755,000. It looks like median price in 2018 will be up for homes surrounding Winnemac Park while unit sales will be down a few. Four homes are currently under contract around the park.
Monday, September 17, 2018
|2050 North Clark, a 32 unit rental building, nears completion. We last wrote about the project in 2017 after the existing building was demolished. 12 units are shown as rented on the MLS as of last week. All photos Eric Rojas, Broker, Kale Realty.|
|2050 N Clark Street in 2017 after the existing property was demolished.|
|The back of the 2050 N Clark Street development on North Orleans Street.|
2050 N Clark Street called Twenty Fifty Lincoln Park (shown above) is a fairly straight forward 32 unit luxury apartment development. The previous structure was a 1970s looking retail structure and no great loss. 12 units are shown rented on the MLS with monthly rents ranging from a one bedroom unit for $2,650 to $5,995 for a three beds two baths unit (about 1,750 sq/ft). Several units are shown available on their web site.
2036 N Clark Street shown above was the former Buddy's Garage building. The condo development was a little more controversial according to reports. 225 public, rent-able parking spots were eliminated. The facade of the building remains while a modern glassy addition pops up top. The DNAinfo report quotes the developer suggesting the condo building would have asking prices from about $1M to $3M per unit. Both buildings stretch back to North Orleans.
|The back side of the 2038 North Clark Street development along North Orleans. In a rare gesture both the front and back facades remain in the luxury condo development.|
|The North Orleans side of the 2036 N Clark development.|