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Home Buying in 60605 : Real Estate Advice

  • All43
  • Local Info1
  • Home Buying17
  • Home Selling6
  • Market Conditions2

Activity 15
Wed Jul 2, 2014
Todd Shissler answered:
Contact a real estate attorney about your best options.
0 votes 25 answers Share Flag
Tue Jun 24, 2014
Brian Bleers answered:
State laws may be different in PA. A local real estate attorney is the way to go
0 votes 5 answers Share Flag
Sat Jun 21, 2014
Brian Bleers answered:
The South Loop is a very diverse area with a wide range of properties. You may have a difficult time finding 2 bd/2ba for $200,000 but if you are seeking a one bedroom you should be able to find one in that price range. It is likely that for that price you will be looking at condo's so be sure that you are looking at buildings that have a healthy reserve and high owner occupancy rate and watch out for high assessments. The South Loop is more developed and dense in the north and east part of the neighborhood with more businesses and places to eat but keep in mind it is more expensive there too. If you go south and west you start to see a bit less of that but there are plans for many developments in that area. Printer's Row is most dense and has the most "city" feel in the SL but the units can be smaller and parking is harder to come by. The Prairie District is full of history and beautiful architecture with a nice neighborhood vibe. Museum Campus can be pricey but is a fantastic area. If your question is about safety, like any neighborhood in the city you will need to be aware of your surroundings but the SL is not dangerous or a bad neighborhood by any stretch of the imagination. Please give me a call for more info. I live in the SL and it is my primary market.

Brian Bleers
Century 21 SGR, Inc.
(630) 414-5373
... more
0 votes 13 answers Share Flag
Sun Aug 11, 2013
Synthia Noble answered:
another consideration, if the short sale list price is preapproved. that can dramatically reduce the time frame and the headache factor. I am working on several BofA cooperative short sales. once I have a purchase contract, we usually close in 2 months. the bank sends me the suggested list price which takes the guess work out of the equation. It is a great program for sellers as an alternative to foreclosure. The seller gets relocation incentive, and the bank agrees to waive their right to pursue the seller for the deficiency. it is a MUCH easier process than a typical short sale.
fyi, if you know of a distressed seller with a BofA mortgage, there is an option for an agent initiated cooperative short sale. I can ask the bank to consider allowing a home owner into this program. so if you know of a distressed seller with BofA mortgage (better if there is only one mortgage), feel free to contact me for more info.
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0 votes 15 answers Share Flag
Thu May 30, 2013
Santiago Kensel Sanchez answered:
Email me i can email you back property history sales comps etc
0 votes 4 answers Share Flag
Thu May 30, 2013
Santiago Kensel Sanchez answered:
0 votes 7 answers Share Flag
Thu May 30, 2013
Santiago Kensel Sanchez answered:
Run the numbers --200 to $300 per month plus dont forget that you have to paid real estate taxes every year
0 votes 5 answers Share Flag
Wed Apr 15, 2009
Straub Milito Group | Real Estate answered:
Hi Newintown,
As Christopher Thomas said, consult with your buyer's agent about your concerns. Continue to do your homework. Before jumping into the library tower development consider other new luxury construction such as the Marquee Condominium, located on Michigan Avenue, it has many of the same amazing amenities, over 80 percent closed, homeowners association controlled. More information on and The developer is offering fantastic pricing on his remaining two bedroom two bath units. Come visit me at our sales center, 1464 South Michigan Avenue. We are open each Saturday and Sunday from 1pm to 4pm or by private appointment. Feel free to call me.
To Your Success,
Akos Straub
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0 votes 3 answers Share Flag
Tue Mar 24, 2009
Straub Milito Group | Real Estate answered:
Greg is right, "the answer lies in the competency of the mortgage professional as generally the same mortgage products from the same sources are available either way." This question has been asked several times on the radio, on the Townstone Financial Show, 560 AM, WIND. If interested tune in and give us a call this weekend, we can talk about it on AIR this Saturday from 1pm to 3pm. Good luck. ... more
0 votes 9 answers Share Flag
Sun Jan 25, 2009
Shirin Rezania answered:
Hi Robert,

For your price range, you can get a 2BR/2BTH < $375K at THE MARQUEE at 1464 S Michigan. Or you can get a 2 BR/1BTH for $290K.

Copy/Paste this link:

I will be able to negotiate with the developer to get you a great deal! If you like to get a good deal, let me know. My email is:


Shirin H. Rezania
Realtor ®
2008 Premier Service ® Diamond Award
Koenig & Strey GMAC
900 North Michigan Avenue, Suite 1700
Chicago, Illinois 60611
direct: 312.893.8129
cell: 312.493.7983
e-fax: 866-324-4369
... more
0 votes 2 answers Share Flag
Sun Jan 11, 2009
Bill Eckler answered:

The best source for accurate information on this topis is a CPA of a tax accountant.

Good luck
0 votes 4 answers Share Flag
Fri Dec 5, 2008
Jeffrey Kropp answered:
The straight answer is most are on the MLS (designated as bank owned homes in various ways) and available through a variety of ways, including a link a realtor can set up for you. Most of these are also on the bank's websites as well but hard to find since there are many banks. The banks hire listing agents to sell them and like any other listing they are placed on the MLS.

More recently, the banks themselves are trying to sell the homes directly to buyers, and you won't see these on the MLS as a result. You just have to find out who the big players are and dig around their websites. I work with one lender who has this approach and they have about 100 homes for sale in IL not on the MLS.

Good luck!
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0 votes 6 answers Share Flag
Thu Apr 24, 2008
Vicki Jako-Ostojic answered:
It's hard to tell. Some developers want to "get done and move on" so they are open to negotiations while others feel that they don't have to since they most likely don't have to pay the monthly interest on the remaining units as the construction loan has most likely been paid off. It truly depends on each developer as well as the actual development.
Your best bet is to identify the unit you like and then have an agent help you negotiate. An experienced agent with a lot of background in representing buyers and sellers of new developments is a skilled professional worth using. You have nothing to loose by submitting a contract.

Best of luck

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0 votes 3 answers Share Flag
Mon Mar 24, 2008
Paul Blackburn answered:
I am very familiar with the area. It is a beautiful unit. I think if you were priced under 300 you would get more showings. Many people, especially with one bedrooms, use 300 as a ceiling in that area. Are you looking to work with an agent to list it? My website is below, if you have any more questions feel free to contact me. Good luck with your sale! ... more
0 votes 3 answers Share Flag
Sun Jan 6, 2008
Tom McCarey answered:
5% is common in Chicago. 10% is considered strong. By the same token my clients accepted an offer today on a property listed at $1.6m where $50,000 was acceptable. The other very relevant consideration with respect to your offer is how reliable your funding is.

Best of luck with your purchase.
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0 votes 16 answers Share Flag
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