All Blog Entries by Sam Tarara

Found 11 blog entries published by Sam Tarara.

Housing Affordability Home affordability has dropped to its lowest level in 10 years, prompting housing experts to call it one of the most significant signs we’ve seen yet of a cooling marketplace. 

According to recently released statistics from Attom Data Solutions, U.S. home prices have fallen to the lowest level of affordability since the third quarter of 2008 thanks in large part to home prices consistently rising as wages in many cities across the country remain stagnant. 

Locally, Cook County’s affordability index has dropped 10 percent from last year, while Los Angeles and New York have seen a 12 and 8 percent decline respectively. 

From a nationwide perspective, the median sales price from October through December has jumped 9 percent to $241,250 while the

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Home Sales FallingHome sales in Chicago saw a sharp decline in November, according to new data from Illinois Realtors. In the city specifically, just 1,793 homes were sold in November, representing an 8.5 percent drop from this same time last year. 

For comparison, home sales nationwide only saw a 7 percent decline, according to data from the National Association of Realtors. 

Both local and national economists attribute the decline to rising interest rates and shaky consumer confidence about the future of the U.S. economy heading into the new year. 

Even with the 8.5 percent drop, November still sits behind September for the steepest monthly decline of 2018, a month when sales dropped 14.5 percent year-over-year. 

Compared to the first 11 months in 2017, this

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New Construction Condos ChicagoThinking about buying a luxurious new condo in or around downtown Chicago next year? If so, here's a closer look at some of Chicago's most highly-anticipated condo developments currently under construction. 

Vista Tower

Under construction right now, Vista Tower comes with the promise of 101-stories of upscale Chicago elegance. This spectacular new high-rise will soon include such impressive amenities as a Sky Lounge, a state-of-the-art gym overlooking the city, a swimming pool and other upscale additions.

The Hampdens East Lincoln Park

The Hampdens East Lincoln Park is another high-end property coming to the city soon. The two new buildings are set to deliver this spring, with large floor plans just a short walk from the park.

56 W. Huron

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Condo Tower West Loop Sulo Development was already planning to build a 9-story, 28-unit condo building at 19 N. May in Chicago’s rapidly growing West Loop neighborhood. Now, plans have changed and their earlier proposal has been expanded to include 18 stories and 73 condominium residences. 

If the name sounds familiar, it’s probably because Sulo was also the company behind Hayden West Loop, a luxury condo building on the same block that’s nearly sold out already. 

With the new McDonald’s headquarters now finished and plenty of other office space in the works for Fulton Market and the surrounding area, it’s no wonder why the West Loop real estate market continues to remain red hot. 

According to Crain’s, Sulo will still need City Council to approve a zoning change

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New Construction ChicagoThe goal for our brand has always been to provide Chicagoans with the very best destination to search homes, condos, lofts, or whatever you happen to be looking for on the local Chicago real estate market. 

In an ever-changing marketplace, it’s important for all buyers to have the necessary resources needed to make the best possible decision for their unique situation, and we pride ourselves on providing just that with our top-ranking website. 

Moving forward, our plan will be to continue this unique approach, and through the launch of our latest website, Chicago Development Finder, we've already taken another big step forward.

Specifically designed to match prospective buyers with new construction properties throughout the city and suburbs,

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Bucktown Wicker Park CondosInventory in Wicker Park isn’t all that strong right now but it also isn’t completely barren either. And if you’re looking to buy somewhere in the $400,000 to $500,000 range, you’ll find a fairly nice mix of options currently listed, starting with these locations…

2144 W. Concord Place

If you’re someone who appreciates vintage charm with modern interiors, 2144 W. Concord Place is for you. The building sits on a quiet, one-way street and units are open, bright, and spacious, especially for a building this age.

2012 W. St. Paul

Dubbed the Willow Square Lofts, 2012 W. St. Paul is the perfect place to begin a search for a higher-end loft unit that won’t break the bank. Fully updated two-bedroom lofts at 2012 W. St. Paul usually fall somewhere in

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Chicago Spire SiteOne of the highest profile projects in Chicago history has reportedly hit another road block, according to a recent report from Crain’s.

Not long ago, Related Midwest finally revealed plans for 400 N. Lake Shore Drive, the infamous Chicago Spire site that failed to develop during the height of the recession.

However, downtown Ald. Brendan Reilly has now rejected that plan, which included two separate towers, with one rising a whopping 1,100 feet high.

There’s no doubt Related will continue to work closely with both the Alderman and the Streeterville community to eventually get something done, and as noted by Crain’s, some of the required revisions to the proposal must include putting a security plan together for the adjacent riverwalk and DuSable Park,

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A new, boutique condo development will be making its way to Schubert and Lincoln avenues, replacing an existing 7-Eleven convenience store.

Being called Schubert Pointe, the new project is being built and developed by Environs Development, a company mostly known for its lavish and luxurious single-family homes that are found all over Lincoln Park.

When finished, Schubert Pointe will stand just four stories high and feature 10 luxury condo residences that will also include two garage spaces, private outdoor spaces, and access to a common-area rooftop deck with an outdoor kitchen.

According to an overview outlined on Curbed, condos at Suchubert Pointe will have high 10 and 11 foot ceilings, expansive outdoor spaces, and also the ability for buyers

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Chicago’s West Loop is widely considered one of the trendiest places to call home right now, and according to a new study, it’s also earned the label of having the highest concentration of millennials of any urban ZIP code in the country. 

According to U.S. Census data from 2016, three out of four residents in the West Loop’s 60661 ZIP code are millennials, the generation born between 1983 and 2000.

This particular part of the West Loop mostly occupies the eastern portion of the neighborhood, stretching from West Kinzie Street to the north down to West Van Buren Street to the south, and North Halsted Street to the west over to South Canal Street to the east. 

Just three other ZIP codes in the U.S. had 70% or more residents who were millennials

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Chicago LoftsWhile Chicago’s West Loop, River North, and South Loop neighborhoods have the highest concentration of classic timber and concrete lofts, these locations aren’t the only places in town you’ll find authentic loft conversions. And even though inventory might be a littler tighter, here are just a few additional neighborhoods outside of downtown we recommend any loft buyer should consider. 

Bucktown 

Considered by many to be one of Chicago’s hippest locations, the Bucktown housing supply is just as diverse as its population. Along with all the modern new construction single-family homes, vintage workers cottages, and wide-range of condo buildings, Bucktown also has its fair-share of residential lofts as well, which is one of many reasons why it tops our

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