This area is agressively moving forward with the new 60,000 s.f. Blackhawks practice facility, great teams that you can walk to the games (Blackhawks and Bulls)...what more could you ask for? This facility is located just West of the intersection of Madison and Western (on Western). In addition, the neighborhood is in discussion to have a Pete's Fresh Market to be constructed in the currently vacant parcels at the intersection of Madison and Western.... more
Just looking briefly at the listing information, this looks to be a duplex unit on multiple floors. The more square footage a unit owner has in any condominium project, then the higher the percentage of the common area expenses that unit will have to cover. Your percentage of the building expenses is based primarily (although not exclusively) on the amount of the total space/footprint that the individual unit affects/is responsible for. At 2300 square feet, this amount for an assessment does not sound too remarkably out of line. As Jeff states below, you will have the opportunity to review the the condominium association's documents and meeting minutes and financial documents. Good luck to you.
Broker Associate, Sudler Sotheby's International Realty
Well, since this question was posted and answered by the people below.. a whole lot has changed in our economy and market. What hasn't changed is really long market times, frustrated and scared sellers, lack of showing requests for over-priced listings etc. As a Realtor who works with a great deal of buyers, I've found even over the past few weeks, buyers are starting to come out of the woodworks. Their curiosity is peeked and they are actively looking for deals.
As a buyer, you are in a fantastic position and I am pretty confident that anyone who is educated on the economy, the real estate market, etc. you ask would tell you the same thing.
If you have at least 3-5% to put down, have GOOD credit (700 or above) and know you are planning on staying in your property for AT LEAST 3 years, then it truly is time for you to become a homeowner.
When you ask how the market is doing, it's down. It's down everywhere. Just remember, as a buyer, the market being DOWN is good for you.
Let me give you some food for thought... over the past 100 years, the market has gone up and down in cycles. On average, in a down cycle, the market has been down by 4% (again this is an average). Currently, on average we are down 7.9%, which would put us down by double than the average amount (I was a math major;). The point is that if you are "waiting out the market" or "waiting for the market to go down more"... you shouldn't be. NOW is the time to get the great deals.
That's my two cents! I currently have a listing in the Loop/west loop at 625 W. Jackson. My seller is listing at the same price he paid for it over 2 years ago, and he has put about $10,000 into the property. He's losing money but he has to sell as he is moving to LA. Again, now is the time for the deals.
Good luck and if you haven't found the right place yet, I can send you over some great properties I know of in the Near West Side neighborhood. - Sierra Bloom Imwalle - Jameson Real Estate - firstname.lastname@example.org... more
Tom, you bring up some good specifics, so I'll add more detail to see if it helps. I will eventually get a realtor but for now am just building up my market knowledge.
Location is either Tri-Taylor, Little Italy, University Village
Age is new to 4 years ago
Upgrade is standard (living room hardwood, kitchen has granite, bathrooms have tiles, etc..nothing fancy)
Size of complex, contruction quality, light: I dunno how to answer this.