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Market Conditions in Near North Side : Real Estate Advice

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

Activity 8
Mon Jul 9, 2012
Philip Sencer answered:
362/mo, but it faces north which means it has zero view other than another ugly looking building about 100' away.
0 votes 4 answers Share Flag
Wed Jul 11, 2012
Philip Sencer answered:
Yes, 'light' does help. Most buyers like/want it, but I have seen many North facing units that are bright and very nice also. There can be other things that help value and mitigate the lack of light. ... more
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Fri Jun 8, 2012
David Hanna answered:
A few of many reasons-
Location, location location.
When you buy a condominium, you are buying more than space. Finishes, views, amenities in the building all relate to the unit.
The financial health of the Homeowner's Association, the amount of reserves, the number of rentals in the building, the overall condition of the common areas / building all create or detract from the value of a unit, including the availability of financing for a purchaser or refinancing options of an owner.

I am sure you will see this list get longer as others weigh in.

... more
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Fri Jun 8, 2012
Philip Sencer answered:
You are asking 2 questions. Supply/demand absolutly affects value either up or down.
While it is nice to only use comps from the same building often this is not possible so appraisers, and folks like you, use similar units in similar buildings nearby and make adjustments for various differences. This is very common. You cannot get too anal about the adjustments you make because there are various levels of emotional or subjective valuation that goes into any analysis by a buyer as well as a seller. ... more
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Wed Dec 23, 2009
M answered:

All indications are that Chicago has some room to go south. The inventories remain very high and there are numerous projects still in the works and many that slowed down because of the market. Maybe within the next six months, during the worst weather, worst time for general sales anyway may be a great time to go in and really negotiate a great opportunity. You have to totally take any emotions out of it and just be very committed to specific life style choices. We are home based in Chicago although are primary markets are in the southeast where there are some amazing opportunities. Let me know if we can help.
Marian Schaffer
The Schaffer Realty Group
... more
0 votes 11 answers Share Flag
Thu Jun 6, 2013
Kale Realty answered:
Hey Jack

Your best bet is to consult Connect MLS- Do a search and on top of the screen there are two blue arrows which will show you the average.

Best of luck
0 votes 7 answers Share Flag
Sun Nov 29, 2009
Rhett Damon answered:
As with anything else... it depends.. but 4 years is a reasonable time to expect a return. RN prices have adjusted down slightly but all in all it's pretty good.
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Wed Feb 6, 2008
Kale Realty answered:

Currently Feb 6th the MLS shows 25 listings from $220,000-$599,000 including 5 rentals. In terms of REO I have seen more at the 440-480 McClurg building and 345 Lasalle. Feel free to drop me a line and I'd be happy to discuss ... more
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