Home Buying in Chicago>Question Details

C Norton, Home Buyer in Wynnewood, PA

Relocating to Chicago from our 6BR/4b, .9 acre property in an affluent suburb of Philadelphia. I want

Asked by C Norton, Wynnewood, PA Sun Jul 6, 2008

a 4 BR condo in the best neighborhood for HNW individuals. (I am mortified to even pose the question...but I know you will understand). It is time to sell the cars and pare down. I simply can't give up my cats so the place must be pet-friendly. I feel this is a 'buyer's market' and I want to make good use of this opportunity.

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HellPets are part of the family, I own three cats myself and would never dream giving them up.
Chicago offers great opportunities for buyer right now.
I am selling a great condo in a super pet friendly building in the Streeteville area. Over 3,000 sq
0 votes Thank Flag Link Wed Jul 16, 2008
Good for you! Jump into the urban experience with both feet, I say! You won't have any problems with your cats. Chi-Town is all about their pets! (Probably has to do with the isolation that urban dwellers often experience.) If you want an intimate building, vintage details and a real "neighborhood" - then definitely Gold Coast, Old Town or Lincoln Park. Streeterville is more high-rise - you know, the "Trump Tower" type of deal. Depends on your tastes - but the coolest thing about living in the Big City? Whatever you're looking for, it's definitely there! And did I mention the restaurants!? But that's another topic...
Web Reference: http://www.mnack.com
0 votes Thank Flag Link Fri Jul 11, 2008
Tons of great options that can only be limited by how much you want to invest. Most buildings at this range will be pet friendly, some will even have access to pet sitters, etc, so that will be the easy part. As far as size and car capacity, most of the newer buildings will be able to accomodate, for added privacy you may opt for a full floor or a floor shared with only one other owner; these units will usually be at higher floors so there will be a premium...often worth it with the view perks. Finding parking on most newer buildings for many cars is easy, just be prepared for the $50K to $60K per space. I would concentrate my search on the Gold Coast and parts of Streeterville.
Web Reference: http://www.MainChicago.com
0 votes Thank Flag Link Fri Jul 11, 2008
Mr Norton, you are right that the buyers market is an opportunity. I lived in Rosemont as a boy, what a beautiful place! If it's the city you want, you have plenty of options from which to choose and to narrow it down you should consider if you want a full service building, 24 hour doorman, a concierge. You will want 2500-4000 Sf and may expect to see prices in the $600-800PSF in the Near North neighborhoods between Streeterville, Gold Coast and LincolnPark. Do you prefer vintage or modern, a larger mid rise building or a tower. You can have lake views or park views.
The neighborhood streetscapes vary too. You will find good shopping, restaurants and entertainment at your door from the downtown and near north to Lincoln Park and Lakeview. Lincoln Square has a much lower density but nearly all the amenities of the good life. Evanston may suit you. New towers offer amazing views and there are many good condos in the blocks south of Nortwestern and just west of the Lakefront beaches and parks.
Downtown Chicago has 5000 new condos for sale. There are several new towers and the plan has been to create a ring of resisential buildings around the parks similar to Central Park in NYC. Until this year developers have had a market in nice balance. While there are always several thousands of units for sale, there were only several hundreds ready for delivery. Now, and going forward, there will be several thousand ready for delivery. While this is very exciting, you may wish to consider an exisitng building, fully occupied, that is financially stable. You and the cats have many fine choices available to you. I wonder if your cats might like to live by the big cats here. The Shakespeare building on Lincoln Park West is very near to the zoo and you will be able to hear the lions roaring in the morning and at night.
Cordially yours, Chris Moran
0 votes Thank Flag Link Mon Jul 7, 2008
Everyone across the country is cutting back and a smart idea, reducing overhead. http://www.lynn911.com
0 votes Thank Flag Link Sun Jul 6, 2008
Hi C Norton - congratulations on your move to Chicago! A couple areas you may want to consider - Gold Coast, Streeterville or units that overlook Millenium Park (great park and lake views) - The Heritage, The Legacy, Park 340, Lincoln Park 2520, located along Lincoln Park at 2520 Lakeview is also a great option if you are looking for an address that appeals to HNW individuals.

Trump Tower (Near North), The Waterview (Loop), The Ritz Carlton Residences on Michigan Ave (Near North) are all new properties which appeal to the ultra-lux buyer. Not all will deliver in the next 6 to 9 months however. Chicago has no shortage of ultra-lux properties.

You may also want to consider a co-op versus a condo as co-ops may offer more living space as well as screen potential property owners based on their financial resources.

Ultimately, your lifestyle will dictate which area is most desirable - availability to restaurants, shopping, transportation - lake access etc.

Best of luck in your search!
Web Reference: http://www.thomasjhall.com
0 votes Thank Flag Link Sun Jul 6, 2008
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