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Home Buying in Near North Side : Real Estate Advice

  • All149
  • Local Info13
  • Home Buying46
  • Home Selling16
  • Market Conditions16

Activity 38
Thu Mar 2, 2017
JW J answered:
I can't speak to the experience of owners, but if you are renting a unit, you have absolutely no rights in this building. The building decided to do a renovation project during the middle of my lease, and arbitrarily shut off water and plumbing for a month, every week day. The more problematic thing is that they entered my unit every afternoon during the renovation, despite my asking them not to, and warning them in writing that it constitutes trespass. In a couple weeks, they will enter my unit to tear down a wall and rebuild it, all without my consent. When I voiced my objections, they ignored my emails completely. I asked them to resolve the issue amicably - but no response. I wouldn't risk living here. ... more
0 votes 15 answers Share Flag
Tue Sep 15, 2015
Mikeh answered:
ive lived there 8 years and i love it!

mike hansen
511, #307
0 votes 7 answers Share Flag
Wed Dec 3, 2014
Mike Opyd answered:
It is difficult to get a loan in these buildings because of the CHA units there. Many lenders will not do a loan there but there are lenders who will. The only real downfall is resale is a little more difficult because of the loan difficulties. If you need a recommendation for a lender who will do a loan there let me know. ... more
0 votes 1 answer Share Flag
Thu Oct 30, 2014
Scott Newman answered:
It's a very desirable building and neighborhood. I would get with an experienced realtor to help you run comps and market data to help you with your purchase.
0 votes 3 answers Share Flag
Sat Apr 19, 2014
Sara McMurray answered:
It depends on YOU, the investor. If you're paying cash, can you cash-flow on the unit? Is your money making more on the (theoretical) increase in value of real estate vs other investments? Probably safe to say that, at today's rates, your cash will do better in real estate than in a bank's vaults. But if the monthly assessment and taxes is at or above your expected rental rates then no, it's not a good investment. As far as pros and cons, a hotel building will have fewer lenders available and will appeal to a different type of buyer. There's something for everyone - whether this is for you or not is a personal calculation. ... more
1 vote 1 answer Share Flag
Tue Jan 7, 2014
Mike Opyd answered:
Id have it lined up quickly since cash usually has a closing within a few weeks. Speak to your agent about what the process looks like and when the money should be made available.
0 votes 17 answers Share Flag
Mon Jan 6, 2014
Scott Newman answered:
Every property is different and the actual amount is a matter of public record. Start by Googling the address and that should be enough to find it. Beyond that, I would love to help you find the perfect home. We should talk. Email me at scott@newmanrealtyillinois.com ... more
1 vote 16 answers Share Flag
Thu Nov 21, 2013
answered:
If you are still in the market looking for options feel free to contact me either by email or phone at any point for a quick chat.

Chris Diamond
Diamond Residential Mortgage Corporation
NMLS 771882
847-775-2181
chris.diamond@thedrmc.com
... more
0 votes 19 answers Share Flag
Fri Aug 23, 2013
JIM Michaels answered:
will send you my list of homes in that area
0 votes 9 answers Share Flag
Wed May 29, 2013
Jamesr answered:
Jim: Take a look at 415 E North Water St. Riverview West on the river for a new view of Chicago. Close to everything but quiet when you want to relax away from the hustle and bustle. Go to: www.thisfinecondo.com for 3 BR 3 BA. for all of the details.. Call 312-909-7109 any time for a showing
The top man in this country visits our building occasionally.
... more
0 votes 5 answers Share Flag
Wed May 29, 2013
Jamesr answered:
In 415 :Currently 3 facing south which is facing the river with excellent city and lake views. Go to http://www.thisfinecondo.com for 1 of the 3. - #804W in 415 E. North Water St.. All 3 are 3 BR 3 BA Kinzie Model. Call 312-909-7109 for complete details on all units. 2 others smaller 2 BR 2 BA facing north and 1 large 3 BR 3.1 BA facing N, NW away from river. 445 has 1 unit 1 BR 1 BA available. That makes a total of seven (7) units available for sale. Are you looking to purchase a property in Riverview? ... more
0 votes 6 answers Share Flag
Tue May 21, 2013
JIM Michaels answered:
email me at jmichaels@remax.net and I will also send you what I have on that particular building
0 votes 11 answers Share Flag
Wed Jan 23, 2013
John Walin answered:
A title policy is worth the money and new construction sometimes have mech liens to sort through.
0 votes 16 answers Share Flag
Sun Oct 14, 2012
Joanna Weiss answered:
You didnt mention if you need financing. I would be happy to help with a pre-qualification letter showing that you can afford the property. Most realtors will need to know if you are qualified for the mortgage before taking you out to look at properties. Joanna 773-327-3580 ... more
0 votes 13 answers Share Flag
Thu Sep 6, 2012
Seth Captain answered:
There is a lot of discrimination against English Bulldogs due to their slobbering drool and wide girth. Both of these traits are currently unfashionable in today's fashion climate. I would consider walking in such a way as to shield your dog from your neighbor's view, or consider adopting a greyhound, very much the anthropomorphic reality of a current US magazine cover. ... more
0 votes 6 answers Share Flag
Sat Nov 5, 2011
Grandpa Al answered:
This is probably out of date but just to let the world know-- I have a two bedroom/2 bath condo in Lakeview on Lake Shore Drive, with full views of Lake Michigan from every room but the baths and kitchen. Very easy cab, xpress bus transportation and indoor parking and 24 hour reception desk.

I only use it 4-5 months each year so I would consider renting it out furnished, with heat, ac, internet, and semi-upgraded cable for $3200 per month.
... more
0 votes 9 answers Share Flag
Wed Oct 12, 2011
Seth Captain answered:
If you enjoy reading Playboy or being associated with things that are associated with Playboy, then this building is about the best emotional investment you can make.

But if you didn't know Playboy was headquartered here, your question unfortunately makes about as much sense as my answer. How can anyone tell you what's a good investment without knowing how much the unit will cost (and the condition, size, view, etc)? ... more
0 votes 6 answers Share Flag
Sat Oct 1, 2011
Lumi Ispas answered:
Ryan,

I don't think you are asking the correct question here. You should ask yourself what would give you the best quality of life.

That used to be the kind of thoughts that run the market 5+ years ago: Buying a home for what would appreciate and not for your needs. I see a lot of short sales now that happen not because the sellers won't like to stay longer there, they sell them because the place doesn't fit the sellers needs and a lot of time they are unhappy there.

Focus on what you actually need and what you'll make you happy. In this market people buy for the long term. We do not really expect any appreciation for another 5 years, so would you rather live in a "cramped 2 bed condo" because of appreciation 10 years for now, or move in a spacious, beautiful floor plan, enjoy 10 years of your life or more and even if, for the sake of the conversation, this 1 bed unit will sell for $10,000 less than potentially the 2 bed, would that additional $1000 a year be a bad investment?

When buying a home these days, we have to mainly think of the qualify of our life. We buy a home not just to have a roof in top of our heads, we buy it to have it as the background of our life: we will build memories there, spend 1/3 of our days there at a minimum...

Kind Regards,

Lumi Ispas
... more
0 votes 5 answers Share Flag
Tue May 3, 2011
Robert Pratt answered:
HI there!

Thank you for posting a question.
If you do not already have a real estate expert who specializes in assisting investors assisting you with your search for an investment property, that is the best bet for you and should be your next move.
An experienced investment specialist will be able to provide you with specific data regarding recent rental prices and rates for properties in this building so that you won't have to be posting on random websites.

Let us know if you want some help - give us a call and we will put you in touch with one of our specialists asap.

312.242.1000.
Thank you again - and good luck to you!
... more
0 votes 9 answers Share Flag
Sun May 9, 2010
Matt Laricy answered:
I would say price.

Matt Laricy
Americorp Real Estate
Brokers Associate, e-PRO
mlaricy@americorpre.com
708-250-2696
1 vote 2 answers Share Flag
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