Latest Chicago real estate news - 2/8/10

Legacy at Millennium Park, 60 E Monroe St, ChicagoClosings have been underway at The Legacy at Millennium Park, 60 E Monroe St, long enough for a number of resales to start popping up inside the tower. Of the 10 units listed by companies other than Equity Marketing Services (Legacy’s exclusive brokerage), at least three are listed for amounts less than their closing prices.

The one-bedroom / one-bath unit #2405, for example, was listed for $389,900 back in 2007 and closed last month at $397,161. Last week it went back on the market for $374,900. Another home in the same tier, unit #3505, sold for $443,390 last month and was relisted today at $420,000. The one-bedroom / 1.5-bath unit #2906 was listed at $448,000 last week, little more than two months after closing at $454,900.

These are minimal reductions — somewhere between 1 and 6 percent per unit — and there are several instances of resales being listed above their original sale prices, but it’ll be interesting nevertheless to watch resale trends here as Equity continues to market its unsold units. Equity’s listed units, which don’t represent all of the new homes available in the tower, are priced from the $480s for a 929 square-foot one-bedroom up to $4.26 million for a 4,757 square-foot three-bedroom penthouse.

Share and Enjoy:
  • Facebook
  • Twitter
  • LinkedIn
  • StumbleUpon
  • Digg
  • del.icio.us
  • Print
  • email

{ 0 comments }

Every month, Keller Williams agent Tricia Fox rents a trolley and guides Realtors and buyers through open houses of similar units in the Streeterville, Gold Coast, River North, and Loop neighborhoods. In December, for example, she took guests to a variety of new-construction condos. Three weekends ago she focused solely on three-bedroom units.

The first place we visited was unit #3702 at the Fordham, at 25 E Superior St. The home’s current owners bought the unit new and have used it as a second home, Fox says. Now they’re selling it for $1.43 million. Tricia showed me around the home and pointed out some of its features; later we went down to a similar unit on a lower floor, where I was able to see how much a few changes in finish can change the nature of a home. (You’ll see that unit in another video.)

Unit #3702 comes with one garage parking spot and the option of a second for an additional $45,000. Estimated monthly assessments are $1,666, and taxes are $15,711, according to Fox’s listing.

Share and Enjoy:
  • Facebook
  • Twitter
  • LinkedIn
  • StumbleUpon
  • Digg
  • del.icio.us
  • Print
  • email

{ 0 comments }

Walton on the Park, 2 W Delaware Pl, Chicago

The Elysian and Ten East Delaware, ChicagoClimb up the Fordham, 25 E Superior St, and you get a pretty clear view of your River North and Gold Coast surroundings. The 37th floor was a good place to see the three new towers on North State Street between Delaware Place and Walton Street — Walton on the Park (above), The Elysian (featured prominently in the photo at right), and Ten East Delaware (the sandstone-clad tower to the left of The Elysian).

I visited the Fordham a couple weekends ago during Tricia Fox’s whirlwind trolley tour through several luxury condos. Check back later for a short video from inside this Fordham residence.

Share and Enjoy:
  • Facebook
  • Twitter
  • LinkedIn
  • StumbleUpon
  • Digg
  • del.icio.us
  • Print
  • email

{ 0 comments }

6200 block, N McClellan Ave, Forest Glen, Chicago

The Forest Glen Community Area encompasses the Northwest Side neighborhoods of Sauganash and Edgebrook, as well as the “micro-neighborhoods” of Middle Edgebrook, North Edgebrook, Old Edgebrook, South Edgebrook and Wildwood. The area that’s commonly referred to as Forest Glen today, however, is a small pocket south of the Indian Road Woods forest preserve, bounded by Metra’s Milwaukee District North line, the Chicago River, and Cicero, Foster, and Forest Glen avenues.

The neighborhood, described by its community club as “Chicago’s Finest,” comprises about 550 homes. The eight that are on the market right now — all single-families — were built between the early ’20s and late ’60s, have two to four bedrooms and one to two baths, and range in price from the $220s (a short sale situation) to the $570s.

To learn more about the neighborhood, visit the Encyclopedia of Chicago, WalkScore, Yelp, and MoveSmart.

To see dozens of pictures from Forest Glen and thousands more from all around Chicago, browse the YoChicago photostream at Flickr.com.

Share and Enjoy:
  • Facebook
  • Twitter
  • LinkedIn
  • StumbleUpon
  • Digg
  • del.icio.us
  • Print
  • email

{ 3 comments }

Sponsored advertisement

In other news – good reads from the feed

February 7, 2010

Not every story we add to our Chicago Real Estate News feed warrants “top story” status or a “quote of the day” post, but that doesn’t make it any less interesting. You’ll find some of these good reads in our Chicago Real Estate News Weekend feed.

Share and Enjoy:

Share and Enjoy:
  • Facebook
  • Twitter
  • LinkedIn
  • StumbleUpon
  • Digg
  • del.icio.us
  • Print
  • email
0 comments Read the full article →

Yo in review: January 31 – February 6

February 6, 2010

Can’t keep up with YoChicago throughout the week? Here are some stories you may have missed:

Introducing our Weekend feed — interesting stories from Chicago Real Estate News
Buyers hit up open houses on a nice day in Wilmette
CAR’s 2010 Economic Forecast: When the market will improve, a roadmap to today’s market, the end of new construction [...]

Share and Enjoy:
  • Facebook
  • Twitter
  • LinkedIn
  • StumbleUpon
  • Digg
  • del.icio.us
  • Print
  • email
0 comments Read the full article →

Popular tiers selling quickly at 565 Quincy

February 6, 2010

Since new price points went online at 565 Quincy last month, buyers have snatched up all or most of some of the building’s individual tiers.
For example, the 09 tier on the 565 Quincy’s new-construction floors has sold out completely, says Belgravia Group sales rep Erin Mandel. Belgravia had sold only two of the two-bedroom / [...]

Share and Enjoy:
  • Facebook
  • Twitter
  • LinkedIn
  • StumbleUpon
  • Digg
  • del.icio.us
  • Print
  • email
0 comments Read the full article →

Prairie Pointe condos on the auction block

February 5, 2010

Did we really make it through January without a single South Loop condo auction? Holy moley, it’s time to play catch-up!
The last 13 condos at Gammonley Group’s Prairie Pointe tower will hit the auction block on March 14 at the Chicago Hilton, with bids starting as low as $189,000, according to Inland Real Estate Auctions.
Twelve [...]

Share and Enjoy:
  • Facebook
  • Twitter
  • LinkedIn
  • StumbleUpon
  • Digg
  • del.icio.us
  • Print
  • email
0 comments Read the full article →

Quote: What matters in a new home

February 5, 2010

“This is a traumatic time in this country and the future isn’t something we’re 100% sure about now either. What’s left? The answer for most home buyers is authenticity.”
- Heather McCune, director of marketing for Bassenian Lagoni Architects in Park Ridge, speaking last month at the International Builders Show in Las Vegas.
A Builders Show report [...]

Share and Enjoy:
  • Facebook
  • Twitter
  • LinkedIn
  • StumbleUpon
  • Digg
  • del.icio.us
  • Print
  • email
3 comments Read the full article →

Front Street Lofts in Lemont cuts prices in half on remaining homes

February 5, 2010

If you subscribe to the Time Out Chicago or Chicago Agent mailing list, you probably found this ad in your inbox this morning:

“Better than a foreclosure sale”? Hey, what isn’t?
Everything I know about the Front Street Lofts comes from the sponsored article we published in New Homes Magazine in July 2008. The development consists of [...]

Share and Enjoy:
  • Facebook
  • Twitter
  • LinkedIn
  • StumbleUpon
  • Digg
  • del.icio.us
  • Print
  • email
1 comment Read the full article →