Tag: Market conditions
235 Van Buren was last quarter’s best-seller
According to Chicago Real Estate Daily:
Developers closed 159 condo sales downtown in the third quarter, up slightly from 151 sales in the sec [...]
MLS-listed downtown rentals at 3-year high
The number of homes and condos listed for rent in the local MLS continues to creep upward.
As of yesterday evening, the count stood at 1,158, [...]
Rent gains begin to slow in Chicago metro area
Marcus & Millichap has just released its Q4 Local Apartment Reports for 39 metro areas, including Chicago.
Some of the high-level findings:
[...]
From $370K to $54K to $115K in Brighton Park
A 3-bedroom, 2-bath condo at 4016 S Western Ave was recently reduced to $115,000. It had been purchased for $54,000 in April of 2011. In February [...]
MLS-listed rental inventory up sharply on north lakefront
The number of homes and condos listed for rent in six north lakefront ZIP Codes ticked up ever so slightly in the past two weeks, from 703 to 707. [...]
Price risks in buying into third-tier neighborhoods
Chicago neighborhoods can be divided into four tiers.
The first tier consists of the neighborhoods that have long been stable, sought-after an [...]
Attention real estate data junkies
For most people, the decision to buy a home is driven by the need for a larger or smaller home, a desire to move to a different neighborhood, pres [...]
Is two months’ free rent the new norm for new apartments?
Winter isn't quite here yet, but winter specials are at a number of the new apartment projects in downtown Chicago.
Some of the buildings are a [...]
Homes at 1992 prices in Chicago’s south suburbs
Crain's is reporting that Case-Shiller data shows home prices in some southern suburbs regressing to the levels that prevailed in 1992.
We've [...]
Institutional investors active in Chicago metro home market
According to data just released by RealtyTrac, institutional investors (defined as those purchasing 10 or more properties in the last 12 months) a [...]
Sellers cashing in at Silver Tower
Back in March we reported on the sizzling sales at Silver Tower, 303 W Ohio in River North. Units were going under contract quickly at asking prices [...]
Chicago-area foreclosure rate plummets year-over-year
Foreclosure rates in Chicago-Joliet-Naperville decreased 31.3% for the month of August over the same period last year, according to newly released [...]
Market for MLS-listed downtown rentals softens
We've been tracking the number of homes and condos listed for rent in the MLS in 14 downtown ZIP Codes for nearly 4 years.
It would be reasonab [...]
New Gold Coast condo tower moving forward?
Crain's Chicago Real Estate Daily is reporting that bid documents have been posted for a proposed 26-story condo tower at the northeast corner of [...]
Could Roosevelt Collection convert to condos?
Daniel McCaffery, CEO of McCaffery Interests, had this to say at a recent Chicagoland Apartment Association (CAA) event, according to a recent new [...]
National flips dip, Chicago’s rip
RealtyTrac released its Q3 2013 Home Flipping Report, which shows 32,993 single family home flips — where a home is purchased and subsequently sol [...]
Rent increases slowing, downtown occupancy rates falling
A news release from the Chicagoland Apartment Association (CAA) included the following summary of a presentation by Ron DeVries, vice president of [...]
Lender puts a stamp of success on K2
Crain's Chicago Real Estate Daily reported yesterday that GE Capital Corp had provided a $110 million refinancing loan for K2, a new luxury apartm [...]
Alta slashes rents in Fulton River District
Yesterday morning Alta at K Station sent an email to brokers announcing steep discounts on the cost of renting at the two-tower, 848-unit project [...]
Is Grand Plaza feeling heat from new buildings?
AMLI River North and Hubbard Place, two new rental towers that recently opened in River North, added a total of 877 new apartments to a market tha [...]