Chicago Real Estate Blog

Chicago condosCase Shiller produces some of the most reliable and depended-upon reports for Chicago condos and homes, and a recent report published by the company shows Chicago condo prices seeing record gains from April to May of this year, the most recent months on record.

These record gains for Chicago condos came in the form of the value of these spaces going up 6 percent on average from just one month to the next. Condo values for this time period also reached highs they had not seen since July of 2011, but more importantly, they are up 18.1 percent from their market lows, signaling a turnaround in the Chicago condo market that has been evidenced recently in increased buyer demand and extremely low inventory rates. Overall, Chicago condo prices were up by 11.9

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Chicago luxury condoChicago condo sales in the high-end range of the market are taking the city by storm. There has been a resurgence in high-rise development and construction over the last few years that is fueling the Chicago condo real estate market. According to a recent report by Coldwell Banker, sales of Chicago real estate in the high-end market rose in 2012, and the expectation is that 2013 could be an even better year.

Real estate priced $5 million and over have been known to sell for incredible amounts of money, including the penthouse sale at Park Tower that topped out at $1,900 per square foot. The gorgeous penthouse is located at 800 North Michigan Avenue, an address that synonymous with luxury living. Some are starting to equate the prices of high-end Chicago

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Chicago condosThe Chicago luxury condo market continues to be a hot segment of the overall real estate space, and former NFL quarterback Mark Malone recently got in on the game. He sold his two-bedroom Greektown condo in a loft building for $557,500.

Malone sold the Chicago luxury condo back on May 6 for just under the listing price of $574,900. He originally purchased the unit back in 2007 for $700,000. The corner unit offered approximately 2,200 square feet of living space with two bedrooms, two baths, and a 35-foot balcony. The unit also featured 180-degree views, soaring 14-foot ceilings, gleaming hardwood floors, and a gourmet-inspired kitchen with slab-granite countertops and gorgeous appliances.  Malone’s Chicago luxury condo is located in an Adams Street

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Chicago condo trendsInstead of giving up the dream of Chicago condo living, many young families are looking for larger attached homes in the city center. As such, developers are supersizing Chicago condos in order to keep up with demand.

Amenities in these Chicago condos appeal to both young couples with and without children, empty-nesters, and also move-down buyers who are interested in living in the city center. These are people interested in a turn-key, low-maintenance lifestyle and who value the opportunity to take advantage of the urban lifestyle right outside their door.

Just ask Chase and Stefanie Chavin, who recently purchased a 3,000-square-foot Chicago condo at The Grant, a 54-story condo tower in the South Loop. It was their desire to maintain an active

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The Chicago luxury real estate market continues to dominate, and showed remarkable strength during the first quarter of this year. According to a recent report by RE/MAX, homes that cost $1 million or more saw sales increase 23%. The median price of a Chicago luxury home climbed to $1,383,900 between January and April 2013, a marked improvement year-over-year.

The median price of an attached luxury home that sold in March and April came in at $1.39 million, up from $1.32 million one year earlier. Chicago luxury condo and townhome sales were up in both categories, and this segment recorded the greatest gains when compared to the same months in 2012. In this segment, sales rose 36% during the first quarter, but marked an even more impressive 39% increase

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Chicago condosBuyers are showing their preference for Chicago condos, as sales have risen dramatically during the first five months of 2013. During May, Chicago condo and townhome sales increased an impressive 35%, which helped the overall real estate market post a 30% gain in total sales year-over-year.

May’s total sales pace was the largest since May 2006. And in addition to the quantity of homes that sold, the pace was also of note. The average number of days on the market in May fell to 115 days from 160 days during May 2012. Tighter inventory and the continued low interest rates are making buyers jump at any opportunity they have to purchase a Chicago condo. Currently, there is about a three-month supply of homes on the market, whereas a six-month supply is

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Did you know that public transportation can actually add to the value of your Chicago condo? It’s true. As more and more cities around the country expand their mass transportation offerings, more and more home buyers have come to rely on public transportation to get to and from work, or simply to get around the city where they live. Nowhere is this truer than in Chicago, where on an average weekday, 1.6 million rides are taken on CTA. In fact, it’s the nation’s second largest public transportation system. Studies show that Chicago condos that are located in close proximity to public transportation and mass transit actually have higher values.

California State University at Fullerton recently conducted a survey of 41 studies of 15 rail systems in the U.S.…
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If you’re looking for a Chicago condo to call your own, look no further than Lincoln Park 2550! It’s the first high-rise condo building to be constructed in Lincoln Park in quite some time, and the unique mix of traditional elegance and modern amenities like the 1.25-acre private park with gardens make it the perfect place to call home in Chicago. It’s like living on the “Central Park” of Chicago!

Architect Lucien Lagrange designed Lincoln Park 2550 to blend in seamlessly with the incredible surroundings, and went to great lengths to preserve a neighboring cathedral. While each condo is outfitted with first-class appointments, there’s no denying that home owners are attracted to the exception location at 2550 Lakeview Avenue, which offers sweeping

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When you’re living an urban lifestyle, gardening can be a little bit more of a challenge. But for Gold Coast luxury condo owners who have a green thumb, it doesn’t mean you have to forget the idea entirely. Yes, you have to be a little more creative in a smaller space, and there is the Chicago climate to deal with. But with some urban gardening ideas and knowledge, you too can have a fantastic garden on your balcony, terrace, or porch. Here are some ideas!

Get Permission: If you live in a Chicago condo building, make sure you check with your building management or consult the home owners association rules before you head to the nursery.

Keep Space in Mind: Since space is obviously at a premium, select plants labeled “dwarf” or “miniature,” as they will have…
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Chicago condo styleAlexa Hampton is an authority in luxury interior design, and now, the designer will feature a collection on HSN (Home Shopping Network). The collection, aptly named “Alexa Hampton Home,” will feature headboard covers, bedding sets with sheets and throws, bathroom items, and window treatments.

Hampton is often featured in Architectural Digest and has been named to House Beautiful's Top Designer List. She’s also a member of Elle Decor's A-list, and Chicago condo owners will be thrilled to have such easy access to her creations. The styles will be tailored, and feature neutral and blue colors. The entire collection is priced under $200, and will be available on HSN, HSN.com, and HSN Mobile.

Adds Hampton, "Sensible, gorgeous design shouldn't be

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