Home Buying in 60647 : Questions & Answers

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Sam Sharp, Real Estate Pro in Chicago, IL
Sam Sharp answered:
Want to buy condo in mixed use building with 5% down. Does this type of building have limits on the amount you have to put down?
This should not be a problem and this is not uncommon - as long as its not just one residential unit on top of 1 commercial space. 5% down would not be an issue as long as you qualify. ... more
0 votes Share Flag Tue Dec 23, 2014 Home Buying in 60647
Sue O'Kane, Real Estate Pro in 60005
Sue O'Kane answered:
Do I need 20% cash to make a offer ??
No, but it helps though. It used to be that 20% down was the standard amount required. Nowadays, with the help of the FHA, you can put as little as 3% down. It all depends on your abili ... more
0 votes Share Flag Fri Dec 12, 2014 Home Buying in 60647
Christy Star…, Real Estate Pro in 60614
Christy Starks answered:
Im looking at a place in bucktown that the unit opens with the elevator and has a massive rooftop deck.
Elevator's definitely add value and open the market considerably for more buyers. Opening into the unit can sometimes be considered a drawback depending on the access entry to the unit ... more
0 votes Share Flag Thu Dec 11, 2014 Home Buying in 60647
Jeff Nobleza, Real Estate Pro in 60640
Jeff Nobleza answered:
Looking for a home builder in the Bucktown/Logan Square area.
I would be happy to refer you to set up some one on one interviews with builders I work with.
They both have spec homes they can walk you through. Give me a call


Jeff Nobleza
773 ... more
0 votes Share Flag Thu Jul 3, 2014 Home Buying in 60647
Rick Newnham, Real Estate Pro in 27609
Rick Newnham answered:
My wife and I are moving to Chicago. Our plan is to rent for one year to feel out the neighborhoods then buy in year two. Is this recommended?
It's not a bad idea to scout out an area, if you're not familiar with it, and rent to start out with. With the interest rates still so low and home prices starting to rise, you might w ... more
0 votes Share Flag Mon May 12, 2014 Home Buying in 60647
Newman-Mitri…, Real Estate Pro in Near North Side, Chi...
Newman-Mitrick RE Group answered:
Hi, First time home buyer here, want to get out of the in laws home.
It really depends on his income. Every $100K you borrow costs about $500/month give or take depending on rate and he should spend no more than a 1/3 of his pre-tax income on housing dep ... more
0 votes Share Flag Thu May 8, 2014 Home Buying in 60647
Matt Laricy, Real Estate Pro in Near North Side, Chi...
Matt Laricy answered:
I need to find a broker or lender who can assist with an FHA short refinance
I would try calling Tony Lupescu 708-351-6416.
0 votes Share Flag Fri Aug 2, 2013 Home Buying in 60647
John Meyers, Real Estate Pro in Chicago, IL
John Meyers answered:
Can anyone give me some advice on the area know as 'West Bucktown'.?
Bucktown continues to be a great area to invest in without the Lincoln Park prices. As another broker mentioned, it is wise to visit the area that you are interested in during the day a ... more
0 votes Share Flag Wed Jul 3, 2013 Home Buying in 60647
Sohail Salah…, Real Estate Pro in Chicago, IL
Sohail Salahuddin answered:
How do I prepare to buy (3-5 year timeline)?
Good Morning,


The most sound advise I can give you is to meet with a mortgage professional who can work with you to create a plan that allows you to pay off your debt and save for ... more
0 votes Share Flag Tue Jul 2, 2013 Home Buying in 60647
Matthew Walt…, Real Estate Pro in Chicago, IL
Matthew Walton answered:
The property next door to me is for sale. It's abandon and is a tear down. How much does it cost to tear down a 1st floor wood frame house in?
Feel free to contact me through my Trulia Profile.
0 votes Share Flag Mon Jun 10, 2013 Home Buying in 60647
johnson10913, Home Buyer in Chicago, IL
johnson10913 answered:
what was the purpose of a coach house in chicago?
I just read that coach houses was for hores and carriges, but now in chicago they use them for rental income or additional income.
0 votes Share Flag Thu Jun 6, 2013 Home Buying in 60647
Joanna Weiss, Real Estate Pro in Chicago, IL
Joanna Weiss answered:
Canventional loan, cannot move in in 60 days!
I dont' think that you should commit mortgage fraud by signing the paperwork. The underwirter probably saw the leases and didnt like the loan. If you are able to delay the clsoing, th ... more
0 votes Share Flag Tue Sep 25, 2012 Home Buying in 60647
Sarah Ziehr, Real Estate Pro in Chicago, IL
Sarah Ziehr answered:
Okay, I just need this in layman terms, so please as simple as possible. The property next door to me is listed for $95K on a real estate website,
It means you need to hire an attorney because whoever buys this will have to deal with a third person who is claiming a stake in the property.
0 votes Share Flag Sat Jul 28, 2012 Home Buying in 60647
Sarah Ziehr, Real Estate Pro in Chicago, IL
Sarah Ziehr answered:
what is the difference between a short sale and a foreclosure?
Short sale: You sell your property for less than you owe and take a hit.

Foreclosure: Your property is taken away from you by the banks and they sell it to recover losses.
0 votes Share Flag Sat Jul 28, 2012 Home Buying in 60647
Andy Ogorzaly, Real Estate Pro in Wicker Park, Chicago,...
Andy Ogorzaly answered:
What do you think of the area of Chicago near Holstein Park?
I love this area! I would say this area will remain pretty stable because it is basically Bucktown, which is very desirable. Plus, it's close to everything.
0 votes Share Flag Mon Apr 30, 2012 Home Buying in 60647
Andy Ogorzaly, Real Estate Pro in Wicker Park, Chicago,...
Andy Ogorzaly answered:
Does the climate of a city affect the property value?
Umm I am very surprised at these answers. Have you seen property values in Florida lately? Not too "hot" if you ask me. Climate may be an underlying factor, but it is not a major one ... more
0 votes Share Flag Mon Apr 30, 2012 Home Buying in 60647
James Houric…, Real Estate Pro in 60618
James Hourican answered:
Where can I find documents from the city to show that a coach house was grandfathered into the property?
All the advice posted seems correct. I wanted to point out specifically you can get to Cook County Assessor plot maps by going to cookcountyassessor.com, then click on Search>>> ... more
0 votes Share Flag Wed May 5, 2010 Home Buying in 60647
Amanda Sking…, Real Estate Pro in 60647
Amanda Skinger answered:
Bucktown West of Western Vs. East of Western
I wanted to provide the website for the neighborhood refered to as "West Bucktown" www.westbucktown.org\
0 votes Share Flag Tue Mar 24, 2009 Home Buying in 60647
Tom McCarey, Real Estate Pro in 60622
Tom McCarey answered:
What is the average cost per square foot for new construction in Bucktown?
Nikki,

Single family homes (new construction) hovered near $400/ft between Damen and Ashland, North to Armitage. My most recent home with fatigued developers sold in February at abov ... more
0 votes Share Flag Thu Jul 3, 2008 Home Buying in 60647
Sheldon Saln…, Real Estate Pro in Chicago, IL
Sheldon Salnick answered:
Legality of divided units
I recommend you obtain and consult an attorney immediately. How long has your realtor been doing real estate? And did your realtor set you up with this mortgage broker? Sounds like you ... more
0 votes Share Flag Fri Apr 4, 2008 Home Buying in 60647
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