Latest Chicago real estate news - 7/29/10

Rent or buy a Winnetka lakefront home

by Joe Zekas on 7/28/10

Breakfast room, 1203 Whitebridge Hill Rd, Winnetka, Illinois

Veteran real estate agents on the North Shore tell me they can’t recall seeing as many lakefront homes for sale as are currently on the market.

The 6-bedroom, 6 full, 2 half-bath lakefront retreat at 1203 Whitebridge Hill Rd in Winnetka is offered for sale at $7,250,000 or – and this is unusual – for rent at $20,000 per month. The home has an indoor pool for the days when Lake Michigan is too icy.

The property is listed with Coldwell Banker’s Blanche Romey. You can see a floor plan of the home, with larger photos and a birds-eye view, here.

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The subplots and twists are mind-splintering in David Roeder’s report on a proposed not-a-flea-market at 3200 S Kedzie in Chicago’s Little Village neighborhood. The cast of characters includes Alderman Munoz, “disgraced former Alderman Ambrosio Medrano” and an attorney relating “a damned lie” that may well be the truth.

A cynic might simplify the tale thusly: Alderman balks at development proposal; $55,000 disappears; Alderman set to approve proposal.

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When we last checked in with 565 Quincy, about a month ago, the Belgravia Group development had sold approximately 100 units after dropping prices early this year.

Sales have continued to be strong since then. According to Belgravia Group’s Liz Brooks, 116 units have gone under contract since the price reductions.

Remaining units include junior 1-bedrooms, priced from $157,900. One-bedrooms are priced from $245,900, parking included. Two-bedroom, 2-bath units start at $318,900, including parking.

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Crain’s is reporting that AMLI Residential Partners plans to build a 49-story rental tower on leased land at the southeast corner of Clark and Hubbard in River North.

The proposed building would include 427 apartments and ground-level retail space. According to the Crain’s article, AMLI 900 in the South Loop is fully leased.

In a separate development Fox & Obel has reportedly leased space on Kinzie St for one of its upscale food marts.

At about 3:20 in the above video Mike Maier of ParkView Condominiums takes me on a walk through Fox & Obel’s popular Streeterville location.

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From the vault: Lexington Homes’ Jeff Benach on building in Bridgeport

July 28, 2010

Two years ago, as work was just beginning on the Lexington Square townhome community, Joe Zekas met with Lexington Homes‘ Jeff Benach to find out what made Bridgeport such an appealing place for both builders and buyers. 2008 may feel like a long time ago in the real estate world, but I’m sure Jeff’s views [...]

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Quote of the day – Don’t rent from Beal

July 27, 2010

The message in the headline is repeated over and over in 54 Yelp reviews of Beal Properties, and the other names under which Beal allegedly does business.
Liz C at Yelp elaborates:
Please run, don’t walk, from these slumlords. I’m wrapping up a one-year lease with this dump. If you like safety issues (our building’s [...]

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A 4-bedroom, 3 ½ bath single-family in Dunning Square under $280K

July 27, 2010

As you watch the sponsored video and see the surprisingly large, open spaces in this completely remodeled single-family home at 3745 N Octavia St, you’ll be disappointed to learn that it sold prior to completion.
Izabela Sloma of Sergio & Banks shows me around, and you can see from my reactions how impressed I was by [...]

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It’s Case-Shiller Tuesday again

July 27, 2010

The last Tuesday of every month marks the release of the eagerly-awaited Standard & Poor’s Case-Shiller Home Price Indices.
Chicago-area condominium prices for May 2010 rose 2.7% from April levels, but fell 6.2% since May 2009. Condo prices peaked in September of 2007 and are down 20.8% since that time.
These are the non-seasonally adjusted numbers.
Chicago-area single-family [...]

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Neno and Shivam on 235 Van Buren: Low assessments, working with CMK, and tips for condo buyers

July 27, 2010

In the second half of their interview with Joe Zekas, Neno and Shivam, two new homeowners at 235 Van Buren, talk about the upside of living in a low-amenity high-rise, their experiences dealing with CMK Realty from the first visit through closing, and tips for buyers currently looking at condos.

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Chicago’s porch safety issues still with us

July 26, 2010

On tonight’s CBS Channel 2 News investigative reporter Pam Zekman took up, once again, the issue of porch safety and inspections in Chicago.
Zekman’s go-to home inspector for technical advice was Tomacor’s Tom Corbett. I’ve known Corbett, a long-time columnist for our New Homes Magazine, as one of the toughest and most knowledgeable home inspectors in [...]

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