Lackluster performance unless the property is in perfect showing condition, takes full use of online and print marketing and priced right on. I've actually seen some multiple offer situations recently for properties that were in great locations. It doesn't have to be priced low but it needs to be priced where comps are selling, so it's a good idea to get a CMA and figure that out.
If you're trying to test the market with a high price or are on the fence about whether or not to sell at this point, I'd stick around for another year and see what happens. Once you know what your property is worth, you'll be able to answer this question more easily.
That being said, this is the best time of the year to sell your home in Chicago, historically, so if you're in a position where you really want to move, this is the best time to get it on the market.... more
Is the floor structure in place? Has the building been gutted? How many stories is the building? Finishes make a huge difference in cost but if you're looking at a fairly heavy rehab you can expect to pay anywhere from $65 to $120 per square foot in hard costs alone. That won't include architecture/engineering fees, legal fees, building permits, insurance, etc. Some of your most important variables will be the condition of the shell and existing structure, the skill/experience of your contractors, and the level of finishes you choose.... more
Appraisals for normal real estate transactions, not roeclosures, are compared to other "arms length" transactions. Unless you are in a declining area, and other foreclosures start popping up, you should not see a significant effect.... more
sounds like a cool space... but unless you want to value only on cash flow.. the location will matter. Are you on Western Ave? How far west? Does the El run through the backyard? see what I mean?... more