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Home Buying in Loop : Real Estate Advice

  • All51
  • Local Info8
  • Home Buying19
  • Home Selling2
  • Market Conditions4

Activity 19
Runa Charlie, Home Buyer in New York, NY
Thu Jan 15, 2015
Runa Charlie answered:
Hi my name is Charlie, we can help you with that, call our company Pitts Enterprises Inc. Here's the phone number 708-557-9667
0 votes 19 answers Share Flag
Mike Opyd, Real Estate Pro in Chicago, IL
Wed Jan 14, 2015
Mike Opyd answered:
Not a good building to buy into, flooded a few years ago, special assessments, large amount of rentals in the building. A poor investment if you buy there.
0 votes 23 answers Share Flag
Mark Zatz, Real Estate Pro in Arlington Heights, IL
Fri Jan 9, 2015
Mark Zatz answered:
I would suggest those portable pads or unfortunately have to bear the cold and cross that street.
Best of luck
0 votes 6 answers Share Flag
Josh Barnett, Real Estate Pro in Chandler, OK
Fri Jan 9, 2015
Josh Barnett answered:
What have you ended up doing with this information over the last 2 years?
0 votes 12 answers Share Flag
Mark Zatz, Real Estate Pro in Arlington Heights, IL
Fri Jan 9, 2015
Mark Zatz answered:
There are many reliable and safe parking garages in that area. It would be best to stop by there and talk to the management to get specifics.
Best of luck.
0 votes 7 answers Share Flag
Mark Zatz, Real Estate Pro in Arlington Heights, IL
Fri Jan 9, 2015
Mark Zatz answered:
Can you please be more specific with the area (city & State) and the other terms of the loan you may be looking into?
The question is just to open ended to give a guesstimate.

thank you. ... more
0 votes 7 answers Share Flag
Todd Shissler, Real Estate Pro in Chicago, IL
Tue Oct 7, 2014
Todd Shissler answered:
You should always talk with a realtor and verify what you see in Trulia or Zillow. The MLS should be the only trusted source for information.
0 votes 2 answers Share Flag
Mike Opyd, Real Estate Pro in Chicago, IL
Thu Jul 25, 2013
Mike Opyd answered:
There are no issues in this building that I am aware of. My cousin who is a Real Estate agent lives there and sells in the building regularly. Units sell pretty quickly there especially in this market. Its a highly desirable area. ... more
0 votes 8 answers Share Flag
Sarah Ziehr, Real Estate Pro in Chicago, IL
Sat Jul 28, 2012
Sarah Ziehr answered:
If you are unfamiliar with the neighborhood, I would recommend spending some time there. Go to dinner, brunch, the grocery store, coffee house, etc. You will love Taylor Street, so many great stuff on that block.

Its completely different than Printers row or the Loop. I would compare it more to the West Loop - part residential, part pockets of restaurants and store fronts.

As far as accessibility, its not really ideal if you need to get on public transportation every day, but great if you drive for work.

Growth will continue since it is so close to UIC and Rush.
... more
0 votes 6 answers Share Flag
Sarah Ziehr, Real Estate Pro in Chicago, IL
Sat Jul 28, 2012
Sarah Ziehr answered:
If you are looking to rent your property in 4-5 years, then buy in the Loop. You could even rent it furnished and attract the corporate relocation market going forward.

Also there is something to be said for getting to work in under 20 minutes door to door. ... more
0 votes 8 answers Share Flag
Matt Diehl, Real Estate Pro in Chicago, IL
Wed May 2, 2012
Matt Diehl answered:
My wife and I have lived in Lisle before. Beautiful town. We ended up moving to Oak Park, also a beautiful town. When out there, i honestly can't say i used the train much, other than a few times, as most of us Realtors need to drive clients around, etc.

Yes, to my knowledge, there is a wait on parking for the Metra station itself. As for the "7 year wait" I think that may be heresay - sounds a bit exaggerated - and I can neither confirm nor deny the wait time being that long. However, I know there are other parking options available in the immediate surrounding area of the station.

Would you be taking the train in the mornings or at night?

Give me call, and I'll be happy to discuss with you further.

773-710-8818 (call/text)

Thanks,

Matt


Matt Diehl
Licensed Realtor
Coldwell Banker Lincoln Park Plaza
773-710-8818 (call/text)

PS - I am always grateful for your referrals, and I promise to treat them well. If you know anyone thinking about buying, selling, or renting real estate, give me a call!
... more
0 votes 1 answer Share Flag
Paul Blackbu…, Real Estate Pro in Chicago, IL
Tue Feb 2, 2010
Paul Blackburn answered:
Hi Jeff,

The developer is reputable, but so is MCL which has financing issues and so are many other developers that have gone under.

The 235 Van Buren project can be great for renters; but I caution those looking to buy into the development. Currently there are many units up for rent and rent prices have remained low. The developer still has a great deal of units available. My concern would be the possible auction of these units in the near future (6-9 months). While the location is great for those walking to work; the building is far from being out of harms way.

It is a sticky situation. I would highly recommend considering this building but it is essential you get a lower price than they are currently asking.
... more
0 votes 2 answers Share Flag
CMLHoldings, Real Estate Pro in Streamwood, IL
Sun Jun 28, 2009
CMLHoldings answered:
Lisle is in Dupage county and the taxes are higher there than Cook county because Dupage does not have a lot of indusrty to tax like Cook does. Naperville is pricey becuse of the name.
0 votes 5 answers Share Flag
PCS, Inc.,  in Lake County, IL
Fri Apr 17, 2009
PCS, Inc. answered:
Laura, be careful which of these responses you listen to. One response mentioned that muesem park is not negotiating and that they eat dinner at Room 21.
Room 21 is closed and Museum Park negotiates.

The only decent response on this was by Sierra Bloom who at least asked some important questions about what YOU are looking for ad seemed to know some numbers.

My opinion...if you are going to buy at that development- negotiate them WAAAAAAAAY down and then purchase a bullet proof vest before moving in.
... more
1 vote 13 answers Share Flag
Christine Mo…, Real Estate Pro in Saint Petersburg, FL
Fri May 9, 2008
Christine Moscinski answered:
I agree, you can purchase for under $200 or go further south as Patti suggests.

But really with inventory being so high, I would negotiate 5-8% below any asking price!

It's a Buyer's market! ... more
2 votes 3 answers Share Flag
Greg Zaccagni,  in Illinois
Thu Mar 27, 2008
Greg Zaccagni answered:
How long do you intend to stay in the property? It's a great time to buy provided you intend to keep the propety for at least 4-5 years.

Greg Zaccagni
1 vote 4 answers Share Flag
Mike Long, Real Estate Pro in Naperville, IL
Thu Mar 13, 2008
Mike Long answered:
You can't trust your agent but you're willing to ask someone that you have not worked with to give you advice? Good Luck!!
0 votes 6 answers Share Flag
Cathi Weaver, Real Estate Pro in Chicago, IL
Mon Nov 5, 2007
Cathi Weaver answered:
Hi Elizabeth,

I am wondering if you are working with a Realtor or if you have been searching on your own. The reason is because you mention that the condo seems to be priced correctly. If you are working with a Realtor, they will definitely find that information out for you. That being said, if the condo has been on the market since mid-July, it may not be priced correctly. Most people would offer 5-7% below asking price on a correctly priced home, usually landing between 3-5% below asking price. If the home is over priced, they've missed the mark by at least 7%, so offering 8-10% may be a good place to start. If the seller hasn't lowered the price, they may not want to negotiate lower, but it's worth a shot if this is the place you really want to call home.

Cathi
... more
0 votes 7 answers Share Flag
Cristina Vat…,  in Chicago, IL
Sun Aug 12, 2007
Cristina Vatasoiu answered:
Go for it. The Chicago loop is an area where a lot of construction companies are investing. Even though the condo you bought is a little smaller, the return on investment will be satisfactory. The assements are not high at all, at $425 including heat and insurance, it's perfect. I pay $300/month for my duplex in Bucktown but the heat bill is at least $250 during the winter. ... more
0 votes 3 answers Share Flag
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