Home Buying in 60611 : Real Estate Advice

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Tarjoadi, Home Buyer in Chicago, IL
Tarjoadi asked:
Why is real estate so cheap in Chicago (1 bedroom in Streeterville under $180K) ? Is it a good idea to buy and to rent it (assuming that the association allows it) ?
The rent ranges around $1500 so the ROI would be around 7-8%
0 votes Share Flag Tue May 10, 2016 Home Buying in 60611
Beach Bum In…, Real Estate Pro in St Petersburg, FL
Beach Bum Investor answered:
Is there a way to get a listing of vacant homes for sale to see if the sellers will entertain a "rent to own" offer?
Michelle, check out http://www.thewholesalerstoolbox.com/vacant-property-list.html to get a list of vacant homes in your area
0 votes Share Flag Wed Jun 3, 2015 Home Buying in 60611
Jeff Nobleza, Real Estate Pro in Evanston, IL
Jeff Nobleza answered:
where there is assessment with an amount and exclamation point what is that? i have seen a few w 30,000-40,000 dollars but no info.
There are the assessments mentioned below and there is the "assessed value" given to a particular property per the County Assessor. Which one are you referring to?

Jeff Nobleza
Bair ... more
0 votes Share Flag Tue Feb 3, 2015 Home Buying in 60611
Rufusdude, Home Owner in Phoenix, AZ
Rufusdude answered:
What is the difference between a listing that says "Pending" and one that says "Active Contingent"?. Can the property be shown?
How long after the contract was initiated does the buyer have to ask for repairs from their home inspection? Does the request have to be in writing (I would think so) or if the realtor ... more
0 votes Share Flag Mon Mar 24, 2014 Home Buying in 60611
Joe Schiller, Real Estate Pro in Chicago, IL
Joe Schiller answered:
Opinions on establishing rental caps for Gold Coast condos building that are already long established...
caps are good business sense, renters are transitional and do not have long term consciousness around best practices for building profitability. I think most buildings do not have the ... more
0 votes Share Flag Thu Dec 12, 2013 Investment Properties in 60611
Joel Holland, Real Estate Pro in Chicago, IL
Joel Holland answered:
forclosures in Near North Side, IL
Foreclosure prices in just the near north area are up 12.2% in the past year, while number of listing available are down 43%. And, they are also closing within 4.6% of final list price, ... more
0 votes Share Flag Tue Dec 10, 2013 Home Buying in 60611
Rusty Payton, Real Estate Pro in Chicago, IL
Rusty Payton answered:
I have a condo for sale in a fairly new building in streeterville. I'd like to sell the unit with the parking. I'm getting offers for the condo only
Pat. Be cautious of the quick answers. Find out some important facts first. You have parking but how is your ownership held? Is it an "assigned" common element (in which case it may ... more
0 votes Share Flag Wed Jun 12, 2013 Home Buying in 60611
JIM Michaels, Real Estate Pro in Chicago, IL
JIM Michaels answered:
To real estate agents, what is your take on 474 N Lake Shore Dr?
Just sold one for a steal in 474 building. Email me at jmichaels@remax.net and I will send you what I have
0 votes Share Flag Thu Dec 6, 2012 Home Buying in 60611
Simir Shah, Real Estate Pro in Chicago, IL
Simir Shah answered:
Obtaining Bylaws from Seller
Sometimes a simple google search for the association may bring up their website and they might have those docs available for download, its worth a try.
0 votes Share Flag Fri Oct 12, 2012 Home Buying in 60611
Jorge Vega, Real Estate Pro in Chicago, IL
Jorge Vega answered:
i need a home in Near North Side, IL. Any suggestions?
Interview two or three agents and ask them if they are fully committed in real estate or are they working a second job. If you want to find a home you have to work with someone who is a ... more
0 votes Share Flag Tue Oct 9, 2012 Home Buying in 60611
Jorge Vega, Real Estate Pro in Chicago, IL
Jorge Vega answered:
Don't banks get it? If they would move faster in processing offers on a short sale they would be helping not only themselves but the homeowner
Bernice,

The truth is that banks do have the money and talent to make these short sales faster and more efficient. After working for a big bank I realized that they were not in the b ... more
0 votes Share Flag Tue Oct 9, 2012 Home Buying in 60611
Michael Vrie…, Real Estate Pro in Chicago, IL
Michael Vrielink Team answered:
I am looking for a real estate agent who has experience representing buyers in purchasing financially distressed properties in downtown Chicago.
Our firm is knowledgable and experienced with downtown distressed properties, and we are located downtown.

Downtown investment properties are ultra-competitive right now, reach out ... more
0 votes Share Flag Tue Sep 11, 2012 Home Buying in 60611
Andy Ogorzaly, Real Estate Pro in Chicago, IL
Andy Ogorzaly answered:
any buyers agent offering rebate?
A strong negotiator that can get you a low purchase price should be more important than a rebate. I have never heard of any agents giving rebates before because most buyer's agents are ... more
0 votes Share Flag Mon Apr 30, 2012 Home Buying in 60611
Andy Ogorzaly, Real Estate Pro in Chicago, IL
Andy Ogorzaly answered:
I am looking at a unit in aqua. any input on the building ? What are the potential problems of having a hotel in the building?
I think it depends on if you have separate entrances for the private residences and the hotel residents. I would prefer separate, but that's up to you. Financing can be difficult for ... more
0 votes Share Flag Mon Apr 30, 2012 Home Buying in 60611
Buzura, Home Buyer in Chicago, IL
Buzura answered:
I am buying a condo in Chicago from Freddi Mac Homesteps. Am I responsible for all of the HOA's accrued assessments? Are there limits?
I think you are only responsible for 6 months before it went foreclose. Be careful. Make sure you have all the condo documents are there, read them carefully, 22.1, minutes, if there i ... more
0 votes Share Flag Thu Apr 12, 2012 Home Buying in 60611
Robert Nowak, Real Estate Pro in Chicago, IL
Robert Nowak answered:
Aligning Agent's interest with Buyer's interest
Great agents are usually found by referral. Find out from friends, family, or associates who they used for their real estate transaction and if they had a positive experience. I believe ... more
0 votes Share Flag Sat Apr 7, 2012 Home Buying in 60611
Robert Pratt, Real Estate Pro in Chicago, IL
Robert Pratt answered:
I am in the process of purchasing a Homesteps Freddie Mac REO. They have accepted my offer contingent upon inspection. My question is: if the
Basically: Your lawyer and your real estate agent will best be abe to advise you and assist you in reassessing your transaction post-inspection.
0 votes Share Flag Tue Jul 27, 2010 Home Buying in 60611
Frank J. Sch…,  in Chicago, IL
Frank J. Schneider answered:
I am from out of state and looking to retire to Chicago. In particular, I am interested in living in the John Hancock Center.
George,

I would also recommend that when someone is new to Chicago that they rent first in the neighborhood that interests them before they make a commitment to buy - especially in t ... more
0 votes Share Flag Sat Jul 24, 2010 Home Buying in 60611
Robert Pratt, Real Estate Pro in Chicago, IL
Robert Pratt answered:
I'm looking to buy a 1 bedroom in the Gold Coast area. Are there any buildings that allow 2 dogs (1 under 10 lbs & the other about 55 lbs).?
Perhaps we can help you narrow down your search a bit more! :)

What other amenities are important to you in a building? - i.e., are you looking for a building with a pool and a door ... more
0 votes Share Flag Tue Jun 29, 2010 Home Buying in 60611
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