Found 14 blog entries tagged as Chicago Real Estate.

Across the board, the housing market in America has been steadily gathering steam. Nowhere has this been more apparent than with the super high-end home market. Around the country, 2012 saw some of the largest, record-breaking home sales to date, and the Chicago luxury real estate market was no exception.

Park Hyatt at 800 North Michigan AveWhile the east and west coasts have been a haven for real estate transactions, Chicago luxury real estate saw some impressive deals too. Take for example the Park Tower’s 66th floor penthouse that was purchased in November by Citadel founder Ken Griffin. He jumped on the home the day it was put on the market, and is now the owner of the 7,900-square foot unit with three bedrooms, four full baths, and five half baths. The penthouse also features a private…

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ORD rated top for layover People would probably not angle to get stuck at an airport, but as more and more airports add to the luxury amenities they offer travelers, suddenly, the thought is not so gut-wrenching. Chicago O’Hare is one such airport that is packed with first-class amenities like luxury shopping, superior restaurants with celebrity chef menus, exceptional designs, and more.

Traveler Marty Rapp at Chicago O’Hare’s Ice Bar notes, "It's classy, it's very classy...it makes you feel good about the layover." Rapp was imbibing in a large glass of red wine under the bar’s ice-crystal chandeliers, the bar’s namesake. Here, the decor is classy and refined, with softly reflective decor that gives sitting travelers the illusion that they’re in an igloo.

And O’Hare is not alone…

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Buying a chicago home five rulesWhether you’re a first-time home buyer or you’re thinking about moving to a larger Chicago home or Chicago condo, the five-year rule is a good one to follow. It’s a simple question of how long you plan to stay in the home, and the answer can help you decide whether or not you should stay where you are or make the move.

For some, it has everything to do with the upgrade cycle. You purchase a smaller Chicago condo or townhome with the intention of staying there. Then, a few years later, you realize there’s not enough space and you need something larger. This upgrade cycle usually repeats itself until the buyer finally settles into a house that is big enough for their family. While great in theory, if you continually sell and purchase a Chicago home that…

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New "Fiscal Cliff" Tax Provisions Impact on Real Estate

Fiscal Cliff Deal Favors Housing RecoveryThere is good news for real estate in the new “Fiscal Cliff” tax bill that Congress finally passed after extensive debating sessions.

The main points of the legislation as they relate to Real Estate are outlined below:

  • Tax Relief for 1 year on Mortgage Debt forgiveness, deferment or cancellation.
  • Tax Deduction for Mortgage Insurance Premiums extended through 2013.
  • Extension of the Energy Efficient tax credit for existing home till the end of 2013
  • Pease/PEP phase out for deductions
  • Capital Gains Tax
  • Estate Tax

Tax Relief on Mortgage Debt

Debt relief on loan modifications, short sales and foreclosures became taxable at the end of 2012 when the previous law, which was voted to…

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