Great view of the Chicago Spire (hole)

Photo Eric Rojas, Real Estate Broker

Our clients are treated to some infamous real estate views in Steeterville while looking at homes at 474 N Lake Shore Drive.

 

Showing rental and condo properties in "River East" of Streeterville

Bob and I have been down in Streeterville and it's sub neighborhood of River East showing condos and higher-end rental apartments.


The 500 N Lake Shore Drive shown in the middle is a newer rental apartment building in River East. (Photo Eric Rojas, Real Estate Broker)

 

I showed a few rentals last week in 474 N Lake Shore Drive.  The condo building recently has a rare Streeterville 3 bedrooms, 2 1/2 baths rental offering under $4,000 with spectacular city and lake views.  Our clients also viewed a couple two bedrooms, two baths units with great views from this building.  Prices for two bedroom condo rentals started at $2,700 a month plus parking.

At the moment, there are 13 condos actively for sale at 474 N Lake Shore Drive.  One bedroom and studio units start at $270,000.  One three bedrooms condo is listed at $599,000. The highest listed condo is $1,399,000 for a three bedrooms, two baths corner home with "maid's room" and family room.



Views from 474 N Lake Shore Drive

Photo Bob DePalma

The River East Art Center is one of the anchors to this unique downtown area that is just steps from the lake paths and Navy Pier.  Next door to 474 N Lake Shore Drive is the upscale market and cafe Fox and Obel.

Got dog?

 

Alderman O'Connor throws first pitch at new Winnemac Park baseball

It's a strike!  Alderman O'Connor brings the heat at the first weekend of Welles Park Parent Association baseball at Winnemac Park.  WPPA members and baseball leaders Lonny Essex, Jim Coffman and Stephen Reynolds also on the mound (All photos by Eric Rojas, Real Estate Broker)

I had the pleasure to stop by and watch the first pitch ceremony at the inaugural season of fall baseball at Winnemac Park.  Welles Park Parent Association (WPPA) member Steven Reynolds brought together Welles Park Baseball, Amundsen High School, the 40th Ward Alderman's office and the Chicago Park District to meet the demand for youth baseball at Winnemac Park.  Over 350 kids signed up quickly!

The teams line up for the first pitch!

From left: Fall ball commissioner Lonny Essex, WPPA member and neighbor Stephen Reynolds and 40th Ward Alderman O'Connor discuss the new baseball league.

 

Families gathered around three diamonds of baseball action.  The new baseball league is a source of revenue, great for exposure to the park, displays quality of life in the neighborhood and is good for local business.

Please contact the Welles Park Parent Association for more information on their baseball leagues and other local activities.

Winnemac Park is a large, beautiful park with unique prairie paths.  Neighbors are working together to bring more youth programs to the park to meet the local demand of park users. See more of my posts from around Winnemac Park!

Football at Winnemac Park in Ravenswood

Jorndt Field in Winnemac Park is home to the Amundsen High School Vikings.  Several other high school football teams have games held at Jorndt Field throughout the season.  Games are usually $5.00 for adults and free for kids.  My 6 year old son likes walking over and watching the games occasionally.

The first Amundsen home game is scheduled for Saturday September 14th, 12:45pm against Shurz High School.  Games are typically played on Friday nights and Saturday mornings/ afternoons.

Lakeview town house sales steady, prices up $35,000

The town house market has been very competitive in several of our key neighborhoods.  We've been involved in many Lakeview town house transactions, offers and showings over the years. "Town house" is a description of a condo or fee-simple property that is attached on the side, but has no neighboring unit above or below it.  Let's look at over-all town house sales recorded in the MLS for 2013 for this large and diverse Chicago Community Area.

Lakeview Townhouse sales January 1st to September 5th, 2013

78 town house sales have been recorded in our member MLS this year.  78 units also closed over the same period in 2012.  The median price is up a healthy $35,000 over 2012 at $490,00. The good market helped bring quality properties to sale.  The median price on town houses for this period year to year went up for the first time since 2008.

The highest town house closing is at 3842 N Southport Unit K for $805,000.  The home is in a newer construction town house community adjacent to popular Blaine school. The lowest priced sale was 1702 W Belle Plaine for $192,000.  Before you get too excited, the three bedrooms, one bath home was built in the 1950s, had no designated parking and needed complete renovation.

Town house sales 2008-2013 over January 1st to September 5th
2013:  78 units sold, median price $490,000
2012:  78 units sold, median price $455,000
2011:  61 units sold, median price $458,000
2010:  80 units sold, median price $470,000
2009:  68 units sold, median price $480,000
2008:  76 units sold, median price $495,000

Under Contract Now

As of this writing, 14 town house properties are under contract priced from $350,000 to $750,000.
21 town homes are listed actively for sale now from $375,000 to $799,000.

Sold! Our Southport Corridor town house listing closes over list price

We recently represented clients on the sale of their Lakeview town house. 3543 N Bosworth Unit C listed at $449,000 and closed last week for $460,000. The transitional design, garage parking and killer roof deck commanded multiple offers. The Southport Corridor neighborhood location didn't hurt either.

3543 N Bosworth Unit C features a large private rooftop deck (Photos by Photo Light Chicago, commissioned by Eric Rojas, Real Estate Broker).

We counseled our clients on improvements to the property and helped them save some time and money by avoiding unnecessary work.  The home was strategically listed and sold while they were on vacation; this avoided disruptions to their family life.  Additionally, we referred and scheduled vendors to repair some inspection items at great prices.

The town house is in a great Southport Corridor location at Bosworth and Addison just steps from one of the most pleasant restaurant and retail strips in Chicago.  The small town house development is surrounded by multi-million dollar homes.

We thank our clients for being terrific partners and working to get the home show ready.  Congrats to the new owners.  Welcome to a great block!

Watch our personal video tour and get more information on the location!


Call us to sell or find homes in Lakeview!

Are Lincoln Square two-flat sales dead? Long live Lincoln Square two-flats!

Lincoln Square was once filled with families living in two-and three flat multi-unit buildings (often just referred to as a "two-flat").  It was common for immediate families or "owner-operators" to live in these multi-apartment arrangements for most of the 20th century.  Near the turn of the century (2000) highest and best use for these properties overwhelmingly became single family home conversions.  Multi-unit sales were brisk over the last decade from 2000-2008 and these buildings were quickly converted to luxury houses by their owners or by developers.

An exceptional multi-unit in Lincoln Square (Photo Eric Rojas)

It feels like 2013 has been a slow year for multi-unit sales.  Let's check the MLS data for Lincoln Square multi-units (two-four units).

Lincoln Square multi-unit sales January 1st to September 3rd 2013

38 multi-unit buildings (two to four flats) have sold this year. The median price is $500,000.
40 sold same period last year with a median of $379,000. So, while unit sales are about EVEN, the median price for these types of properties has gone UP. 

While personally looking at the buildings sold this year I noticed several "move in ready" two-flat buildings with well finished "owners units" had sold for well over $600,000 and $700,000.  This reflects the tight market for single family houses.  Sellers put their nice buildings on the market for top dollar while buyers shut out of the single family home market looked for new options.  The cost for "development" properties has gone up too (properties needing tear down or complete rehab).  These factors have raised median price.

Lincoln Square Multi-Unit sales have steadily risen since 2009 (the year after the financial crash).  Of course, not all of these buildings are converted and many still remain investments or "owner operators".
31 sold in 2011
24 sold in 2010
19 sold in 2009

I wonder if I'll still be on this planet when the last of these small multi-unit dwellings is converted to a house!  MORE LINCOLN SQUARE HERE

All sales data gathered from MREDLLC.com and analyzed by Eric Rojas Real Estate Broker with Kale Realty.  These numbers are approximates.  Call us to find Lincoln Square multi-units or for consultation on your property sale.

Native rooftop coniferous forest of River North

  The terrestrial biome of West Huron and West Superior of River North (Photo Eric Rojas)

Deals, Designer Consultations and Cocktails at the Mart Furniture Sample Sale September 6-8p

Great designer sale event coming up at the Merchandise Mart this week. Photo Bob DePalma

Our friends at Sophia + Co sent us this great overview of a designer sample sale happening this week at the Merchandise Mart.  Bob and I are heading over Friday.

SHOP THE ANNUAL FALL DESIGN CENTER SAMPLE SALE

SEPTEMBER 6 – 8, 2013

Browse Hundreds of Home Furnishings at up to 75% Off in the

Posh New Design Center at The Merchandise Mart

WHAT:                       Fall decorating season has returned. Get a head start on updating your home at the Design Center’s annual Sample Sale, which opens its doors to the public. Find beautiful pieces from the top names in furniture, outdoor, area rugs, fabrics, accessories, lighting and much more—at savings up to 75% off.

WHO:                          The Design Center at The Merchandise Mart recently completed its renovation, which now features a more concentrated, easily navigable showcase of the TOP brands in interior design and outdoor furnishings on four floors. Shop floors 6 and 14 for home furnishings and floors 15 and 16 for outdoor furniture. Participating showrooms will be announced soon.

           

WHEN:                       Friday, September 6 | 9am-5pm
Saturday, September 7 | 10am-3pm
Sunday, September 8 | 10am-3pm

WHERE:                     The Design Center at the Merchandise Mart

                        222 Merchandise Mart Plaza

                        Participating Showrooms on Floors 6, 14, 15, and 16

EXTRAS:                   LOUNGE 1447 is a new amenity center on the 14^th floor with meeting rooms, lounge seating and a full-service café.  Rest, eat, relax, and recharge during the Sale.  Open during Sale hours.  Visit LOUNGE 1447 and make an appointment with a Designer On Call and let them help you shop the Sale. Need to ship your purchases home, no worries, we’ll have onsite shipping services too.

ADMISSION:             Free

Click here to see participants and register!

Photos courtesy Sophia + Co

 

Big house! Substantial luxury new construction rises in Ravenswood

The home features a large central courtyard fronting Montrose. The actual structure takes up quite a bit of the 92' wide x 165' deep lot. (All photos Eric Rojas, Real Estate Broker)

 We wrote about the large vacant lot that was sold for $1,465,000 at the corner of West Montrose and North Hermitage in the Ravneswood neighborhood.  The new impressive house structure is now framed out and taking shape.

The "west wing" of the home facing Hermitage (Photos Eric Rojas)

The home is the newest addition to several double and triple lot new construction properties in close proximity over the past few year.

We wish the owners a smooth construction process and we are excited to see such grand investment on a booming stretch of Montrose.