Home Buying in Near North Side : Questions & Answers

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Dan Simon, Real Estate Pro in Charleston, SC
Dan Simon answered:
Do you need title insurance if you are paying cash for a brand new home?
Title insurance should not be required on a cash purchase.
0 votes Share Flag Wed Jan 23, 2013 Home Buying in Near North Side
Tony Guisto, Real Estate Pro in Chicago, IL
Tony Guisto answered:
I am in Chicago area,,, and very interested in purchasing a "tenant occupied property". Can you give me some guidance?
I am an Investor and have some available. Need to know what your looking for single family, multi-family, section 8 etc..... You can call, text or e-mail me for more information.

T ... more
0 votes Share Flag Mon Jan 27, 2014 Home Buying in Near North Side
Philip Sencer, Real Estate Pro in Chicago, IL
Philip Sencer answered:
is this home pet friendly because i have a english bulldog?
I do not see the address, but just call and ask.
0 votes Share Flag Thu Sep 6, 2012 Home Buying in Near North Side
Philip Sencer, Real Estate Pro in Chicago, IL
Philip Sencer answered:
Is the 680 Lake Shore Drive building a good investment ?
Not unless you have lots of money and do not care how its spent. While it is located in one of the best locations in the city it is a very high maintenance building and no parking. Valu ... more
0 votes Share Flag Wed Oct 12, 2011 Home Buying in Near North Side
Ryan Gossett, Real Estate Pro in Chicago, IL
Ryan Gossett answered:
Need 2 bed/2 bath in G Coast/River N area for 5 months out of the year. Plan on this for next 10 yrs. Would you buy or rent furnished for 5 mos.?
I would definitely buy, if we can find you something that offers same quality of life for less. Let me know if you want me to try.
Best,
Ryan Gossett
Ryan@atproperties.com
0 votes Share Flag Sat Nov 5, 2011 Home Buying in Near North Side
Philip Sencer, Real Estate Pro in Chicago, IL
Philip Sencer answered:
We are looking at 4 buildings; 10 E Delaware, 25 E Superior, 21 E Huron, and 2 W Delaware--all pretty new. Any pros/cons on these? We want 3 beds,
I tell clients to avoid new construction/conversions that were started during the bubble years because the cost/revenue projections went out the window when the market changed. Do not b ... more
0 votes Share Flag Wed May 29, 2013 Home Buying in Near North Side
Philip Sencer, Real Estate Pro in Chicago, IL
Philip Sencer answered:
What is NOT good about 55 E Erie bldg?
Not having any real clue as to what values really are or what they might be going forward is probably one of the big unknowns. This is an extremely difficult market for this price point ... more
0 votes Share Flag Sun May 9, 2010 Home Buying in Near North Side
Philip Sencer, Real Estate Pro in Chicago, IL
Philip Sencer answered:
Whats the deal with 2 e oak? Is there a special assessment coming or levied? Saw a condo with water damage from the BLDG CENTRAL UNIT? under repair?
Nothing too dramtic to report on the building. I had a listing there recently. The building was not talking about any specials and I do not believe they have any major projects needed t ... more
0 votes Share Flag Fri May 7, 2010 Home Buying in Near North Side
Philip Sencer, Real Estate Pro in Chicago, IL
Philip Sencer answered:
What is NOT GOOd about 111 W Maple condo building?
I am not aware of anything really negative about the building although some of the units are rather small and non functional. Others are fine.


philip
0 votes Share Flag Fri Apr 30, 2010 Home Buying in Near North Side
Matt Laricy, Real Estate Pro in Near North Side, Chi...
Matt Laricy answered:
What are the pros and cons of the condos at 240 E Illinois?
I like this building. Although, we as agent cant comment on safety, I can tell you there is a doorman for the building. If you are questioning the safety check out chicago crime by bloc ... more
0 votes Share Flag Thu Feb 25, 2010 Home Buying in Near North Side
Philip Sencer, Real Estate Pro in Chicago, IL
Philip Sencer answered:
In general, what type of high rises are considered more sound-proof--vintage buildings, 60s-70s buildings, or new construction?
I do not think there is a clear answer. It really depends on the building. VIntage buildings probably are consistantly built better with respect to soundproofing in terms of high rise, ... more
0 votes Share Flag Tue Jan 19, 2010 Home Buying in Near North Side
Daniel Cullen, Real Estate Pro in 60607
Daniel Cullen answered:
What is NOT good about 900/910 N. Lake Shore Drive bldgs.? Old, etc...
If you're referring to the Mies Van der Rohe buildings on LSD then one thing that leaps to my mind is that the windows (and there are a lot of windows!) are single-glazed and relat ... more
0 votes Share Flag Thu Oct 13, 2011 Home Buying in Near North Side
Jennifer Ames, Real Estate Pro in Chicago, IL
Jennifer Ames answered:
Is buiding The Spire definitely back on? What is the time frame for completion? How will it affect propert prices in its neighbourhood?
Not likely! According to Crain's Chicago Business on December 21, 2009 they cannot get funding.

http://www.chicagobusiness.com/cgi-bin/mag/article.pl?articleId=32828

I would ... more
0 votes Share Flag Fri Jan 8, 2010 Home Buying in Near North Side
Sandra Matson, Real Estate Pro in Chicago, IL
Sandra Matson answered:
Is there an annual income limit one must fall under to qualify for the first time home buyer's credit?
JB.

Here is the information from my blog regarding income limitations.

There are income guidelines on the credit. Individuals with an adjusted gross income up to $75,000 (or $150 ... more
0 votes Share Flag Tue Oct 6, 2009 Home Buying in Near North Side
Newman-Mitri…, Real Estate Pro in Near North Side, Chi...
Newman-Mitrick RE Group answered:
I am planning to buy a condo in a building which just had a big special assessment recently The Seller is paying the special prior to closing, but
You should read my blog on the subject which you can find on my profile.

In the meantime, look at it this way...

Would you rather find out there's a problem with a car you� ... more
0 votes Share Flag Mon Sep 14, 2009 Home Buying in Near North Side
Nike (Nikki)…, Real Estate Pro in Beverly, Chicago, IL
Nike (Nikki) Fasanya, aka Nike Knows Mortgages! answered:
What credit score does one need and what type of income for let's say $150,000 condo?
The minimum score as at today is620 to get a loan. A lot of other factors are considered though, in the approval process.
If you don't want a generic answer, you may want to call a ... more
0 votes Share Flag Mon Jul 27, 2009 Home Buying in Near North Side
Maria Clark, Real Estate Pro in Chicago, IL
Maria Clark answered:
What credit score does one need and what type of income for let's say $150,000 condo?
Are you a first time home buyer? If so, Did you check Freddie Mac and Fannie Mae's web site? There are tons of incentives that can help you. Let me know if you need any thing else.

... more
0 votes Share Flag Thu Jul 23, 2009 Home Buying in Near North Side
Laura Gaan L…, Real Estate Pro in Chicago, IL
Laura Gaan Lattin answered:
Why are the assessment at the condo so high in the gold coast?
Hello Marilyn,
The assessments are going to vary depending building. Many of the buildings in the Gold Coast are older so the assessments will be higher due to the higher costs associ ... more
0 votes Share Flag Wed Jul 22, 2009 Home Buying in Near North Side
Dp2, Other/Just Looking in Virginia
Dp2 answered:
How much do you expect the new Fannie Mae 70% sold rule to impact the sale in new condo developments?
Although I didn't know about the Fannie Mae 70% sold rule, a business partner and I spoke with a commercial hard money lender on Friday about a scenario similar to the one you're asking ... more
0 votes Share Flag Thu Apr 2, 2009 Home Buying in Near North Side
Eric Marcus…, Real Estate Pro in Chicago, IL
Eric Marcus (773) 244-1110 answered:
I was wondering if anyone knew exactly when the Cabrini Green buildings would officially be torn down? When?
According to a timetable I saw on an old 60 minutes episode, all buildings are slated to come down by the end of 2009. Based on the progress all over town, that sounds about right. Se ... more
0 votes Share Flag Mon Sep 8, 2008 Home Buying in Near North Side, Chicago, IL
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