Chicago North Shore Real Estate Sales Strong

Chicago North Shore Real Estate Sales Strong

For single family homes in a four year period since the beginning of 2010  we are at the highest point in years for the number of contracts written during this time of year. 2013 had higher numbers through August but then dropped off and by September there were 271 contracts written for single family homes. At the same point in this year of 2014 we have 318 contracts written.Chicago-North-Shore map

The point is that if priced properly homes in the Chicago North Shore are still selling strong today. The Chicago North Shore is Evanston, Wilmette, Kenilworth, Winnetka, Glencoe. Highland Park, Lake Forest. If you are thinking of moving you will be successful if your property is marketed properly and with a Professional Real Estate Brokerage such as Coldwell Banker Residential Brokerage. We will do a market analysis of your properties value and we have a plan to get you the most value for your home.

If you are interested in purchasing property in Chicago’s North Shore you should consider contacting Coldwell Banker the oldest and most successful Real Estate Brokerage in Chicago Land.

If you want to see what properties are available in Chicago Land we have a direct connection to the Multiple Listing Service for you to use and there is no need to enter any information unless you want to, it is a fee and no obligation service we provide for you.

Understand your Expectations and Exceeding them

Coldwell Banker Residential Real Estate

(800) 858-7917

Chicago-North-Shore Sales Data

Michael Jordan’s Suburban Chicago Lake Forest Mansion Fails at Auction

This Monday Former Chicago Bulls superstar Michael Jordan attempted to auction off his home in MJ 23Lake Forest Illinois located at 2700 Point Ln with a minimum bid of $13 Million and there were no takers. The home is Michael_Jordan_23_Bulls_Jersey_HD_Wallpaper56,000 square feet on three floors with 9 bedrooms, 5 fire places and sits on 7 acres. A guest house to rival most homes you and I would live in is included.
He lived in the home with his former wife and children who are now grown and have moved on. The home has a full size regulation basketball court and huge workout room that is like his own health club. Randy Brown was part of a group of former players who would go to his weight room and work out and play ball before they would even go to the official practice. They called the get together “The Breakfast Club” because his private chef would prepare meals for his cronies who have talked about the sessions they had enjoyed.
With a tennis court, wet bar, dry bar in ground pool and fire places indoors and out what more could you want? There are not many who could afford such a house and maybe that is why it did not sell? One problem is that it is located 3 miles from Lake Michigan and most homes getting anywhere near that price tag include beach access.
The home was once listed in the MLS at $29,000,000, dropped to $16,000,000 but still did not attract any offers. Do you think MJ is hurting for the money? I don’t think so. He is still one of the highest paid former professional sports figures with a fairly untarnished image unlike Lance Armstrong and Tiger Woods.
Imagine getting the commission on selling that house.
MJ’s House Video

800 Elgin, Optima Horizons, Evanston IL Northwestern Students

Today I closed a sale on 800 Elgin, the Optima Horizons unit 1509 a 2 bedroom 2 Bath Evanston Illinois condo steps from Northwestern University and all parties are very happy. Why is this, the 800 Elgin building is the favorite among students and facility in town because it has all the amenities and is right in downtown Evanston IL.
800 Elgin 2
There are restaurants all over, many shops, and public transportation is right at your finger tips. A great building with a door person, huge swimming pool, deck, exercise room, party room and management on site 5 days a week. If you want to learn more about 800 Elgin or any of the Optima communities of Evanston Illinois I suggest you visit 800 Elgin and take a peak.

The property we closed on today was for a buyer who invested to help his daughter a fine student at NU and she is a very excited young lady judging by the huge smile on her face.

Want to talk more about it? Call or click Coldwell Banker Evanston at (800) 858-7917 9:00 am to 9:00 PM and we can help make your dreams become reality.

800 Elgin Optima Horizons

The view of Evanston from this property

800 Elgin

Vacant property ordinance considered in Chicago

Chicago City Council is proposing an ordinance that would help clean up those vacant properties affected by foreclosure in the city.  We’ve all driven through neighborhoods only to see boarded up homes, graffiti, broken windows, and unkept lawns.  Bank of America, Wells Fargo, PNC and JP Morgan Chase helped develop the ordinance along with the city.

What is proposed is to have the banks better maintain these properties that are awaiting foreclosure or were left vacant because the bank took ownership after a foreclosure.  They would have to take responsibility for winterizing properties, putting up metal if the plywood was removed twice, and keeping stairs to the entry secure.  If it was found that they weren’t maintaining the properties correctly according to the ordinance, they could be fined each time.

They’re hoping to make this ordinance take effect statewide by proposing it before the State legislature.  For both the State and the banks, they’re also hoping to lower the amount of time it takes a property to go through foreclosure.  Cook County is averaging about two years currently, and they’re hoping to get that down to six months tops.

According to this Chicago Tribune article, “The mayor wanted to be sure we were able to uphold the important maintenance requirements in Ald. Dowell’s ordinance, so we brought the banks to the table to work toward a solution,” said David Spielfogel, chief of policy and strategic planning for the mayor’s office. “In addition to the compromise ordinance, we are working toward a solution in Springfield that will ensure regulatory certainty for municipalities and banks.”

And if everything passes as everyone hopes, the ordinance should take effect by the end of this year.

What are your thoughts?  Good or bad?  I actually like that the banks helped to develop it, especially considering they’re the ones that would be fined if they don’t follow through.  It really holds them responsible and keeps the city from looking like an awful mess.  Leave me a comment or visit me online.

Blagojevich forced to sell home

Former Illinois Governor Rod Blagojevich has been forced to use his Ravenswood Manor home and his Washington D.C. condo as collateral against a $450,000 bond ordered by a judge.

Lawyers mentioned during the court appearance that the Ravenswood home is for sale, although no listing yet exists on the public market.  It’s possible that the home sale will be kept private, only allowing those qualified to see it.   Guesses are that the home will be listed around $900,000.  Blagojevich purchased the home in 1999 for $505,000.  It was built in the 1920s and has 5 bedrooms, 4 bathrooms, and is 3817 square feet. 

Blagojevich was convicted in June on 17 counts of wire fraud, bribery, attempted extortion, and conspiracy after prosecutors argued he tried to sell Barack Obama’s Senate seat when he won the presidency. 

More information can be found here. Please be sure to visit me online for updated news, articles, and tips!

New program to benefit commuters

With the influx in gas prices, it’s getting more costly to drive your car to work, especially those living in the suburbs commuting to the city and vice versa.  And higher gas prices mean higher-priced tickets for the bus and train, too.  The Chicago Tribune has a new article about a great new program to benefit commuters. I am highlighting some of the main points below.

 There’s a Chicago organization called the Metropolitan Planning Council that is piloting a program called Commute Options.  What they’re hoping to do is recruit 10 to 15 employer this year that would offer their employees incentives to reduce the cost of commuting to work.  Right now a lot of affordable homes are in areas where there doesn’t happen to be a lot of job openings.

According to a council spokesperson, “A lot of communities where people can afford to live in our region are not the places where there’s a thriving job market.  In order to bridge that gap, we’re working with employers to give employees some options.”

So this is important information that can also benefit home sellers.  If you live within 2 minutes to a highway or are a 2-minute walk to the Metra station, you definitely want to highlight that in your home listing.  More and more people find commuting information as important as the number of bedrooms in a home or what type of flooring there is.  

The article also mentions a recent survey of Coldwell Banker agents.  75% said the increase in fuel prices has led their buyers to adjust their thinking on where they want to live.  More and more want to be closer to work or in a location that work is easily accessible and affordable.  

So sellers need to make sure their Realtor knows all the information about public transportation that’s close as well as proximity to highways and major roads.  It’s important to highlight.  

I hope everyone had a nice holiday weekend.  I can be reached via my Web site.

Evanston foreclosure remodeling moving along nicely

Last February, I blogged about how the city of Evanston was going to receive $18 million in grant money to fix up some foreclosed homes in an attempt to lower the inventory of foreclosed homes and make some new homes affordable to low-income families.

Well, the Evanston Review has just posted that some of those homes that were purchased could be available by this summer.

The City has been working with Brinshore Development to get some of these homes ready for rent or sale.  So far Brinshore has purchased more than three dozen foreclosed homes in Evanston to work on.  A few of the homes need minor cosmetic repairs.  Some other homes need complete gut rehabs.

The terms of the grant stated that one quarter of the $18 million had to be used to benefit households with incomes at or below 50 percent of the area’s median income, or $30,050 for a two-person household and $37,550 for a family of four.  About 20 homes fall into this range.   According to the article, the remaining units units have to have the maximum income ceiling of 120 percent of the area median, or $72,100 for a two-person household and $90,100 for a family of four.

The grant also states that the money needs to be used by 2013 and at have at least 100 units rehabbed and reoccupied.  So far Brinshore has purchased and is under contract to purchase a total amount of 70 units.  The article also says, “Of $1 million in subcontracts awarded to date, 77 percent have gone to minority, women and Evanston-based employers, according to the city. Nearly half of the $1 million in subcontracts has gone to firms employing residents from the target areas.”

So by doing this, more money is being funneled into City-based employees and workers.  It’s so nice to hear that everything is moving along smoothly with this grant.  I love hearing that these foreclosed homes are being remodeled so that they’re not sitting unoccupied and creating an eyesore for a neighborhood.  Have you come across one of these remodels in your neighborhood?  I’d love to hear about it.  Please leave me a comment or visit me online.