Wednesday, April 12, 2023

New listings currently down 34% around Chicago and suburbs


Dude, where's my house? Inventory remains very tight in Chicago and most Illinois areas. Residential listings were DOWN 34% year to year for the week of April 3rd-April 10th. Great listings that hit the market continue to get multiple offers!

Check out all MRED (MLS) week to week stats here:

Lots of condo buildings line Lincoln Square streets... but few units are for sale.

For example... There are 13 available condos (attached units, town homes) for sale in #LincolnSquare on the MLS. There are 34 under contract! Single family home ratio is better for buyers... There are 11 single family homes under contract and 15 available for sale. But those homes come with a median asking price of $1M!

Cook County property tax exemption applications


Cook County property tax emption applications are NOW available. Every year I find at least one of my clients has not taken their homeowner exemption. Have your parents look into senior exemptions. Missed a year? Get a certificate of error for a refund. Need help? Have a real estate tax question? Our real estate attorney can help!

Tuesday, April 04, 2023

Lincoln Square getting more apartments on "booming" Lawrence Avenue

The former furniture store building at 1950 W Lawrence Avenue, Chicago IL 60640 will be redeveloped. FUN FACT: My wife bought a couple kitchen tables for two of our properties in the early 2000s.  (All photos Eric Rojas, Broker, Kale Realty) 

A vacant retail building at 1950-1952 West Lawrence Avenue in Lincoln Square will be demolished to make way for new apartments.  A permit was issued March 21st of this year for a five (5) story building with 12 residential units, ground floor retail and private garage. The building most recently housed a furniture store. 

The property has exchanged hands and features a history of liens and lis pending foreclosures over the past dozen years. That seems to be sorted out. The new building development is permitted "as of right" and won't need any zoning changes nor trigger any public forums.  The new construction will further consolidate a long running series developments from 1800 block of West Lawrence to the 2000 West block of Lawrence in Lincoln Square.

Yummy Falafel across the street from 1950 W Lawrence has recently opened in the former taco restaurant space.

R@A Sourdough on the corner of Lawrence of Winchester is just steps from the new development. Fantastic bagel, bialys and sandwiches. 

The old Sears store redevelopment is only a half block away. It houses DeVry University and 59 rental apartments. 

Falcon's at 1968 W Lawrence has taken over the old Chez Simo space. Sweet Moon Bakery at 1964 W Lawrence has established itself as a popular cafĂ© in a space that has turned over several times.

100s residential units have been added from 1800 West Lawrence to 2400 West Lawrence with more to come.  It is a great site to see all the people and local business regenerating this commercial stretch of Lincoln Square over the past 20yrs. The Damen CTA stop, Western CTA stop and Ravenswood Metra all service the area.  Check out some of the Lawrence and Damen development I've written about HERE

All photos and stats gathered by Eric Rojas, Broker, Kale Realty - 2447 N Ashland Chicago IL 60614 - 312-939-5253.