Chicago Real Estate Blog - Helaine Cohen

Millennials Finally Making an Impact on Chicago's Real Estate Market

As expected, Millennials are playing a big role in how well the real estate market is faring right now, but many who are on the move are finally starting to buy rather than rent. With interest rates already rising, and expected to continue to rise before the end of 2015, many 30-somethings all throughout the Chicago area are boosting home sales significantly, so much so that sales levels are actually reaching a level we haven’t seen since before the recession.

Although the housing recovery has been on-going for the last several years and the market has continued to get better each and every year, the one aspect that hasn’t been improving relates to first-time home buyers, who are seemingly finally starting to come around.

In the 9-county Chicagoland…

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The Time to Buy is Now, as Interest Rates Could Be Rising in September

If you’re thinking about buying a new home, the time to buy is now.  Interest rates could rise in the coming months, possibly as soon as mid September.  That is when the Federal Reserve has its next policy meeting and could make a key decision to raise rates.  

The key indicator of whether interest rates will increase is tied to how well the job market performs.  The benchmark low interest rate has remained near zero since late 2008.  The idea was to help increase employment and revive the economy.  Rates remained low in light of a sluggish economy but moving to a higher interest rate usually signals movement towards a healthy economy.

The Fed could still hold off a little longer on raising rates, possibly pushing off a hike until December.  However, some…

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New, Bigger, Better Ferris Wheel Coming to Navy Pier in 2016

In case you missed it, Navy Pier has announced plans to install a brand new Ferris wheel. Although initial plans called for a wheel reaching 300 feet high, Mayor Rah Emanuel has made it official that Navy Pier Inc. will put in a new 196-foot wheel before May 2016, just in time for the pier’s centennial birthday.

The cost of the new Navy Pier Ferris Wheel is expected to be around $26.5 million, which will include construction and landscaping. And although that sounds like a lot—and it certainly is—the new wheel will feature 42 encapsulated gondolas that hold up to 10 passengers, padded seats, TV screens and speakers, heat and air conditioning, and will be quite a bit faster—allowing for riders to make three full rotations instead of just one.

Because of…

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Chicago's Near North Side Tops Sales Numbers for the Month of May

As we get deeper into the summer season, numbers are being released for one of the busier spring months of the year—May. According to reports, Chicago’s top-selling neighborhood for the month of May was the Near North Side, a neighborhood we know all too well.

Given the Near North Side—which includes neighborhoods like River North, the Gold Coast, Streerville and Old Town—has a substantial inventory and a high concentration of condos for sale, it’s hardly a surprise to see it rank as highly as it did.

What is surprising, however, is that West Town held down the 2nd highest sales total with 195 sales compared to the Near North Side’s 280 sales, while Lincoln Park came in with the 3rd highest sales total at 157 sales.

Taking condos out of the equation,…

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Loews Hotel Chicago Opens Largest Outdoor Terrace in Chicago

For some of the best views in Downtown Chicago, do not miss the new Loews Chicago Hotel terrace.  This newly opened third-floor terrace includes a lounge, offering up interesting views of the city’s skyline as well as the lake.  It also bills itself as the largest outdoor rooftop terrace in the entire city.

Streeterville Social is unique even for Chicago, with two bar areas, cabanas and a grassy area with greenery, lounge chairs, birdcage chairs, and the occasional game of croquet.  The location also includes a large, custom-made Jenga set for a fun late afternoon in the sun or a place to grab a drink or two after work.

The menu includes cocktails like the custom-made Streeterville Mai Tai, or one of the selections from the Pink Page, a drink menu dedicated…

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NoCa: A New Neighborhood Coming to Chicago?

A new neighborhood is coming to Chicago, this one borrowing its name more from New York-style neighborhoods than Chicago ones.  NoCa is the name coined for the area to the north of Chicago Avenue.  Chicago Avenue, Wells, Halsted and Division Streets on the Near North Side border it.

Already several residential developers are at work in the area, and hoping to use the new name to promote a trendy new area of the city for residents to call home.  Along with this, several new developments are already underway.  One of these includes a new tower under construction on Chestnut that will eventually include nearly 350 units.  It should be finished by early 2017.  In addition, several dozen two- and three-bedroom condominiums are also planned at Locust and…

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What to Do in Chicago This Weekend: June 26th - 28th

Although the weather hasn’t been cooperating as of late, it’s still summer in Chicago, meaning street fairs, festivals, and parades are in full swing. Like most weekends in June, July, August, and even September, there’s a whole lot going on around Chicago over the next few days and here’s a quick glance at just some of the events and happenings that might be worth checking out:


Logan Square Art Festival

Formerly the Milwaukee Avenue Arts Festival, the Logan Square Arts Fest is a 3-day extravaganza that includes local art, music, food, drinks, and more! A number of local venues will be hosting art shows all weekend, while a stage will also be constructed of live music and performances. The Logan Square Arts Festival is happening at the Logan Square…

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A Look at Some of Chicago’s Hottest New Restaurants

Chicago is world famous for some of its landmarks plus its variety of fantastic restaurants.  To add to the mix, we uncovered some of the city’s hottest new dining locations.

Boeufhaus

One of the hottest new restaurants is Boeufhaus on North Western Avenue.  Open for brunch, lunch and dinner on select days, Boeufhaus has a small dining room with a seasonal menu.  The restaurant focuses on serving grass fed beef like Filet Mignon and New York Strip, but also serves fresh seafood, duck and pork.

The Angry Crab

If seafood is what you are craving, do not miss out on The Angry Crab.  There’s usually a long line to eat at this casual seafood shack where live crawfish is served up by the pound.  Located in West Rogers Park, The Angry Crab is the place to go for fish…

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Wanda Vista One Step Closer to Becoming Chicago's Next Supertall Tower

Back in late 2014, plans for a new, super-tall residential tower called Wanda Vista were revealed, however, not much else has been mentioned about this skyline-changing development since—until now that is.

Reports are now surfacing about a possible sales center making its way to the New Eastside neighborhood, as renovation permits have apparently been issued for a 10,000 square foot space inside Coast at Lakeshore East, a high-end new rental building located nearby the development site.

Wanda Vista is being designed by Chicago-based Studio Gang Architects, and as it stands, will stand 93 stories high and is expected to cost developers almost $1 billion. When finished, Wanda Vista will house 405 condominiums and 169 hotel rooms, but not official word…

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Lavish No. 9 Walton Condos Now Listed on MLS®

It was only a few short months ago that plans for the new “No. 9 Walton” development were first released, and with things moving faster than ever on Chicago’s luxury real estate market, units have already hit the MLS for what will be one of Chicago’s most exclusive new construction condo buildings to hit the downtown market since the housing crash.

Being developed by JDL Development, No. 9 Walton—located at the southwest corner of Walton and State—will stand 34 stories high, but only house 67 very exclusive condominium residences. Inside, units will have an average of 4,400 square feet of living space, certainly helping justify the price tag of between $1.9 million to over $12 million for the building’s extravagant 7,100 square foot, full-floor condo…

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