Many homes have shortcomings that will hurt their resale value. But it all comes down to price. If you get enough of a discount it doesn't matter because you can resell at the discounted price you bought it at.... more
It is not possible to realistically answer your question. Property taxes are not based on a statewide formula. A great deal of property tax levee is based on local municipal needs. A house of the same market value could have $12K in annual property taxes in one suburb or City neighborhood. That same house could only have a $3K tax bill in another suburb or City neighborhood. Sorry but it isn't a realistic question.... more
Keep in mind that when living in a condo you have to abide by the Rules and Regulations of the Association. You cannot do whatever you want since you are "living" with many others. Check the assessments and inquire as to if any special projects are being considered that might affect your assessments.... more
Interview a couple agents and explain what you're hoping to do. If you're trying to parlay your cash strength into a 5-10% discount off of retail market prices, find an agent who is confident in his/her ability to deliver.
At the end of the day, an agent rebating the commission to you is going to get paid less... and typically you get what you pay for.... more
They were one of many developement buildings that got caught when the 'bubble' broke in 2006. Some units sold, but not enough to transfer ownership from the developer. I do not know details, but either the money dried up and they could not finish or they just could not sell at the prices required to pay of the loan(s).....or maybe both They are doing what many other developers had to do..............rent them out and wait for the market to change. THis is probably not a good risk to buy. Too many potential unknowns.... more
Hi WS - split-fsce block is common in many new construction units in Chicago. I have sold buildings built with split-block with no issue - if it is properly installed an cared for. Split-block is pourous and requires maintenance, sealing etc. If you are considering the purchase of a building built with split-block, I highly recommend Steve Hier or Miller-Hier Enterprises. Steve is a highly reputable inspector who has written articles about split-block. He has inspected many of my past clients' properties with split-block. One in particular did not make the cut due to lack of maintenance.
Hope that helps.... more
Hi what you need to do is appeal the current taxes. You could do it your self and save you some money.
accurately define your current market value. compare the sold comparables to your home and if the difference is significant enough appeal!. Or you could hire an aprraiser to appraise your home.... more
Julie you would need to get a full release in writing from your contract with them to proceed. If not you may be liable for paying them if you buy something they introduced you to. Make sure everything is in sriting and cc the managing broker.... more
That listing is no longer on the market, but there are several other comparables close by. I'd be happy to help you in your home search. Please give me a call anytime or shoot me an email.
CAR Top Producer
980 N. Michigan, Ste 900
Chicago IL 60611
Well, in part it is because the standard Chicago lot size is 25x125, but even 30x125 does not give you much space between one property and the next. I assume you are looking at single family houses. You just need to find one that is built a bit 'differently' and gives that privacy you want.
The other part is $$$$. If you can afford a 1M+ house you might have a little better luck or if you can have one built for you that should work too.... more
Most often the reason to put property into a trust is for estate planning purposes. A lot of people create family trusts to protect family assets. However, this is really a question that someone should be asking an attorney that specializes in estates and trusts.
I would be happy to help you find a property to put into a trust and I would also be happy to share a list of attorneys that handle estate work and set up trusts in the Chicago area.
Hope that helps.... more
Sounds fairly standard for the City and various suburbs. Would be even higher in some areas. If you think it's out of line consider an appeal. You can do it yourself or hire an attorney who specializes in it. They usually take a percentage of the savings they get you.... more
Location is probably the best you'll get. I live a block away and love it! The finishes are top of the line and these are NOT cookie cutter homes. In my opinion, these are the types of homes that you would be proud to live in and brag to your friends...haha. Note: I've only toured these before, I'm not the developer or anything.
If you'd like to look at them this weekend, call/email me and I will be happy to set it up!
Jeff Stewart, GREEN
3101 N. Greenview Avenue | Chicago, IL 60657
The potential issue for all new construction and conversion projects since 2006 is that the market has tanked. Most of those projects cannot sell out so the developer is either renting them out until things change or more frequently, dropping prices frequently just to get out. In such an unstable situation you really do not know what the values are and there is an increased chance that there will be some short sales/foreclosures from folks who bought early at higher prices. If so, those eventual prices will be used to judge all the others....like yours some day perhaps.
In most of these projects the potential risks are usually greater than the potential gains, unless you pick up one of the short sales/foreclosures. Be careful.... more
If you have an agent, he/she can pull comparable recent sales for greater accuracy. If you don't have any agent we'll be losing sleep.
If its a 2 bedroom unit, the additional full bath is not worth much if anything. If its a three bedroom with ample living and dining space it could be worth $30k.... more
Your question is far too broad, and you don't provide enough information to frame an intelligent answer.
What's your price range? How long do you expect to stay in the home you'd buy? What are your neighborhood preferences?... more
I think you got the basics pretty much covered. I would suggest maybe interviewing a few agents and go with the one you feel comfortable with. If I could be of any help at all, please let me know. Good luck!
Americorp Real Estate