Chicago Real Estate Blog - April, 2020

Pros to Buying a Garden Unit Condo in Chicago

If you’re in the market for a new condo you may want to consider a garden unit. That’s because there are plenty of pros when it comes to buying a garden unit condo.

To begin with, a garden unit is located on the ground floor or slightly below street level, with easy access to a backyard garden or patio. They sometimes also offer a small front porch.

The accessibility also means you won’t have to contend with stairs. Whether stocking up on weekly groceries or more easily moving in furniture, a garden unit is the way to go.

This is ideal, too, if you have a pet that needs to go for daily walks. If you work untraditional hours, you won’t have to worry about disturbing others when you leave and return home. 

Another good reason to buy a garden…

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3 Reasons Why You’ll Love Condos at Peoria Green

If you’re looking to buy in the near future, you’re sure to love the news condos of Peoria Green. From the location to the floor plans, we found three great reasons you’ll love the property.

Location

To begin with, the condos sit in the heart of the West Loop and overlook Mary Bartelme Park. Not only does this guarantee nearby green space, a playground and a dog park, but it’s an easy walk from Peoria Green to a neighborhood school.

Floorplans

You’re also sure to love the generous floorplans at Peoria Green. The condos come in four- and five-bedroom layouts, including some with direct park frontage. The sophisticated homes also feature high ceilings and the grand illusion of living in a private home.

Private amenities

The private…

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New Data Shows Chicago Home Price Growth Lags Nation

The pace of home price growth in Chicago continues to lag behind the national pace, and new reports show it’s slowed down even more in recent months.  For some time, the Chicago area was running about half that of the national pace.

New data from January shows the pace in Chicago has now slowed to less than one-sixth of the national figure. Some say this points to evidence the real estate market in Chicago was struggling before COVID-19 began impacting the national housing market.

Single-family home values in the region rose about 0.6 percent in January compared to the same time a year ago. When looking nationwide, home values this January were up nearly four percent.

While nationally home price growth was strong in January when compared to the previous…

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Chicago May Be Experiencing a Housing Bubble

High prices and a lack of buyers in Chicago may be indicative of a housing bubble. At least that’s what some real estate experts are saying.

They point to evidence that people are still buying but aren’t necessarily willing to pay more than the asking price. Redfin found Chicago homes spend a longer time on the market than those in other major U.S. cities.

Unlike some of those other cities, Redfin also found it’s uncommon for Chicago homes to sell above asking price. On the flip side, just 15-percent of Chicago homes are said to sell at less than list price.

Homes in Chicago’s southern suburbs are some of the hardest to sell. Some equate that to the area’s high taxes. Illinois, in general, has extremely high property taxes, behind only New Jersey.

Despite a…

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