Skokie single family home prices rise with the tide

Skokie is diverse suburb home to a gazillion brick homes of various styles that fit almost any budget.

We popped out to Skokie this weekend for house showings.  The Village of Skokie is a logical option many of our city dwellers looking for nearby affordable houses and well rated schools (our clients are looking under $500K for a four bedrooms house). The drive from our client's current location in Lincoln Square is 20 minutes and Skokie is easy to highways.  The village has seen an uptick in sales prices over the past five years mirroring many popular Chicago neighborhoods.

Skokie boasts a true downtown with eateries, services, shops and civic events.

473 single family homes closed in Skokie over 2017 with a median price of $327,500. The highest priced home sale was at 4200 Grove St, Skokie, IL 60076 for $1,100,000.  Two homes sold over $1M and only 41 homes sold over $500,000.  In 2016, 526 homes sold with a median price about $315,000 (that got you a nice conditioned four bedrooms, 2 baths split level in high-rated schools).   

Back in 2012 the median of a Skokie single family home was only $225,000 with a highest priced home sale of $748,000. So far in 2018, 31 homes have closed with median price about $360,000. 98 homes are currently for sale in Skokie at the time of this writing.

Skokie offers home buyers a downtown area, plenty of eateries, great Park District, decent public transportation options (Skokie Swift video HERE) highway access and good schools in a wide range of budgets. Robust theater/ arts are a staple in Skokie and it's home to the very important Illinois Holocaust Museum and Education Center.  Enjoy all of beautiful North Shore for less in Skokie... and it is close to Chicago whenever you'd like to come back 😃

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Skokie downtown condo sales

We have clients looking to live near their workplace just north of Chicago.  They'd like a "walk-able" area and they don't want a house.  Skokie's downtown offers condo apartments with plenty of cultural events, restaurants and services nearby.  We were focused on the higher-end, luxury units. They can be impressive for this sometimes overlooked "urban" suburb.

In he last 12 months, 253 total condos have closed in Skokie.  The median price is about $173,000.  About 37 units sold withing a few blocks of the downtown center (Lincoln Ave and Niles Center Road) and close to the Oakton-Skokie Yellow Line.  The median price is still about $173,000. 

The highest priced condo sold in the downtown area this year is 4953 Oakton St Unit 703, Skokie, Illinois 60077 for $485,000.  Built in 2006 the spacious, contemporary three bedroom condo measures over 2400 sq/ft on one floor with a huge terrace and two garage spots included. Several two bedrooms units sold in the 4953 Oakton building in the mid $200s.

Several local joints with cafe seating give the Skokie downtown a welcoming and lively feeling.

Cafe seating in a downtown atmosphere is a must have for many of our clients

Skokie has beautiful planters throughout their downtown.

Lots of new sidewalks and benches

Several landmarks like Saint Peter's Church dot the downtown.

Why is my closing in Skokie? Real estate attorneys and the title insurance company

First American Title has an office in this building at 5215 Old Orchard Rd #250, Skokie, IL 60077. All photos from Bob DePalma and Eric Rojas, Brokers, Kale Realty from our closings last week.

A couple weeks ago I represented clients at closings at 10 S LaSalle in Chicago Title's downtown offices and at 4230 W Irving Park Road in the First American Title offices of the Old Irving Park neighborhood.  Last week Bob represented our clients at a closing in Skokie.

How is a closing title company chosen? Why was our Evanston sale closed in Skokie?

Long time real estate attorney Kent Novit offered a brief description of how the title company and it's location for your closing came to be:

"In the Chicago area most attorneys that represent Sellers in regard to residential real estate transactions are affiliated with the title insurance company used. The Seller's attorney does participate in researching the existence of deeds, liens, encumbrances or other items of record that effect the subject real estate. The attorney is compensated by the title company for that research and work provided.

In addition the attorney does share the potential liabilities that might result from the failure to properly note items of record that exist on an examined property. For the transactions that I am involved I use title companies with which I have had positive experiences, allow the transaction to proceed smoothly and that best protect my clients. 

Normally I will attempt to work with all parties involved in a transaction to determine the location of the closing. Generally the location of the closing should be reasonably proximate to the location of the subject real estate. Companies like Chicago Title or First American Title do have a greater number of closing offices located in the Chicago area which may allow the opportunity to close within a few miles of the residence that is being sold."

Our 811 W Chicago closing was held in a nearby Skokie location in part because Kent is affiliated with First American Title and the location was convenient for the buyer and seller parties involved.  Bob and I have attended many northern Chicago closings at the Skokie location as it is sometimes more convenient for buyers and sellers than downtown Chicago.

Attorney Kent Novit and is firm handle real estate transactions and estate planning. They can be reached at:
100 N. LaSalle Suite 1700 Chicago, IL 60602
 PH: 312-332-2407 Fax: 312-332-6452

Houses near North Shore Channel Trails in Skokie and Evanston

We've been in Skokie and Evanston again looking for both rental and for-sale houses for clients.  Skokie and Evanston are nice options for clients who work in the northern part of Chicago (Northeastern Illinois University for example) or for one of the many institutions along the North Shore. We have several current clients who work at Evanston Hospital and Northwestern University. 

9344 Bennett in Evanston was a short sale that closed in May of this year for $180,000.  It has been fixed up and re-listed... now on the market for $375,000.  It's a nice value for a newly remodeled home with good space and a great yard.  The house is located across the street from Gorrell Park and the North Shore Channel Trails. (Photo Bob DePalma, Real Estate Broker)

There is a nice variety of homes and price points hugging the unique North Shore Channel Trails and Skokie Northshore Sculpture Park.  In this case, we were focusing on homes priced under $400,000 for sale and looking for a rental single family home for under $2,100.

There has been a ton of single family home sales activity within a few blocks of the North Shore Channel Trail.  The prices can be as little as under $100,000 (!) in pockets east of the channel to well over $1 million close by in parts of Evanston.

You can find many three bedrooms split levels and "A Frame" homes surrounded by great trees.

 

Please contact us to look for home options in Evanston and Skokie.

Tesla "plugged-in" at Old Orchard

We occasionally have business or a closing in Skokie.  Bob took this shot of a Tesla car plugged in for charging at the popular Westfield Old Orchard Mall near by the title company offices.

When Bob sent the photo, I thought it was for this "Tesla"