Deal Estate - February 2012

02/29/12

Michael Jordan Lists Highland Park Mansion for $29 Million

Michael Jordan, that most iconic of Chicago sports figures, put his gated Highland Park estate on the market this morning, asking $29 million. It is by far the highest-priced home listed in the Chicago area. A Barrington Hills estate is up for $14.9 million...

Posted at 10:08 AM in Housing Bulletin | Permalink | Comments (0)

02/29/12

Hinsdale is on a Tear Again

Before the housing bust, Hinsdale was the Chicago area’s capital of teardowns, with more than 100 older homes replaced by new construction each year from 2004 to 2007. That pace slowed during the bust, but the demolish-and-replace trend has been percolating back to life—and accelerating in the past few months—say real-estate agents, builders, and the village official who monitors construction in that western suburb. After 29 demolitions in 2010, there were 35 in 2011, says Robert McGinnis, Hinsdale’s building commissioner, and he expects the village to top that in 2012...

Posted at 9:50 AM in Housing Bulletin | Permalink | Comments (1)

02/28/12

Rodkin on Sellers’ Unrealistic Prices

Readers ask questions, and our real estate expert answers. This week, a reader named Bradley asks why some North Shore home sellers aren’t pricing their homes realistically for the 2012 market.

Posted at 3:56 PM in DEQ's | Permalink | Comments (0)

02/27/12

In Winnetka, Everything a House Ott to Be

List Price: $4.995 million
Sale Price: $4.4 million
The Property: A grand manor home on two acres in Winnetka’s Indian Hill Club was sold February 17 for $4.4 million—just 46 percent of what its sellers were asking when they first put it on the market nearly six years ago...

Posted at 10:00 AM in Sale of the Week | Permalink | Comments (0)

02/23/12

In Hyde Park, a Cinematic Home Worthy of an Oscar

List Price: $1.149 million The Property: Facing Promontory Point across Lake Shore Drive stands an 11-story co-op building with a façade so lovely it can only be called “cinematic.” That’s fitting, since the architects of what was originally called the Jackson Shores Apartments were Rapp and Rapp, the renowned designers of grand movie palaces, including the Chicago Theatre and Aurora’s Paramount Theatre...

Posted at 10:09 AM in On the Market | Permalink | Comments (0)

02/22/12

Real-Estate Listings Are Getting Greener

With an increasing share of homebuyers putting energy efficiency and other green features at or near the top of their wish list, the Chicago-area multiple listing service is giving environmentally friendly features more prominence. Last week, Midwest Real Estate Data (MRED) added a Walk Score; it’s a measure of how many services can be accessed from a home without driving...

Posted at 10:03 AM in Housing Bulletin | Permalink | Comments (3)

02/21/12

Rodkin on Renting Out a Home to Buy Another

Readers ask questions, and our real estate expert answers. This week, a reader named Rich from Glencoe asks about the specifics of turning his home into a rental in order to buy a new home.

Posted at 1:21 PM in DEQ's | Permalink | Comments (0)

02/20/12

Wicker Park’s Troubled Twins

List Price (house on the right in photo): $990,000
Sale Price: $959,000
The Property: These mirror-image twins in Wicker Park share more than their contemporary brick-and-glass style...

Posted at 9:15 AM in Sale of the Week | Permalink | Comments (1)

02/16/12

In Lake Forest, an Old Estate Garage Gets a Lift

List Price: $2.8 million
The Property: In the late 1930s, the architect David Adler designed a pair of servants’ cottages that flanked the back entrance to the Lake Forest estate of Lola Armour. He used nearly as much detail on the cottages as he had on the huge main house, nearly a quarter of a mile away...

Posted at 10:00 AM in On the Market | Permalink | Comments (0)

02/15/12

Latinos Getting Hit Two Ways by Foreclosures

Chicago’s Latino Policy Forum has discerned a painful irony: Latino neighborhoods and suburbs have a heavy concentration of both over-crowded housing units and empty foreclosures. “We have these two phenomena happening concurrently,” said Juliana Gonzalez-Crussi, the forum’s policy and housing analyst, when we talked on Monday...

Posted at 9:35 AM in Housing Bulletin | Permalink | Comments (0)

02/14/12

Rodkin on Telltale Signs That a Real Estate Market Has Hit Bottom

Readers ask questions, and our real estate expert answers. This week, a reader named Beth from Streeterville asks what clues signal that the real estate market in her town or neighborhood has hit bottom.

Posted at 2:48 PM in DEQ's | Permalink | Comments (2)

02/13/12

After Five Years, Final Condo Sells at River North Building

List Price: $1.199 million
Sale Price: $1.115 million
The Property: On February 9, the last of 20 condos at 30 West Erie was sold, more than five years after construction and sales began...

Posted at 9:49 AM in Sale of the Week | Permalink | Comments (0)

02/09/12

Two Competing Views of Belmont Harbor

List Price (8th floor): $375,000
List Price (7th floor): $300,000
The Properties: Even among the many stately dowagers that surround it, 3314 North Lake Shore Drive stands out with its Beaux Arts façade, which features paired columns of bay windows that capture views out over Belmont Harbor...

Posted at 10:00 AM in On the Market | Permalink | Comments (0)

02/08/12

The Mack Daddy of Foreclosure Flippers

The Tinley Park mansion that the former NBA star Antoine Walker lost in foreclosure when he declared bankruptcy in 2010 was left in sorry condition. Water stood waist-deep in the basement, murky goo filled the indoor pool, and at least 32 light fixtures were gone. But Jim McClelland Jr. and Eric Workman saw an opportunity...

Posted at 9:35 AM in Housing Bulletin | Permalink | Comments (1)

02/07/12

Rodkin on Building a New Home vs. Buying an Old One

Readers ask questions, and our real estate expert answers. This week, a reader named Alex from the Northwest suburbs asks if the costs of building a new home are comparable to buying a five-year-old home.

Posted at 12:37 PM in DEQ's | Permalink | Comments (0)

02/06/12

A Second Chance for an Uptown Home

List Price: $1.175 million
Sale Price: $1.2 million
The Property: In 2010, this quirky house built on three lots in Uptown in 1978 was on the verge of getting the interior updating it badly needed...

Posted at 9:25 AM in Sale of the Week | Permalink | Comments (0)

02/02/12

A Pre-Fire Farmhouse in Lincoln Park

List Price: $1,574,900
The Property: Just off the thriving Armitage Avenue shopping strip, on a Lincoln Park street filled with homes from different eras, stands a house that watched them all arrive. Built in 1861 as the farmhouse for a truck farm that delivered its produce into Chicago, the house still has several of its original elements...

Posted at 10:00 AM in On the Market | Permalink | Comments (1)

02/01/12

Condo Swaps in Itasca

A little over three years after they downsized from a house in Elmhurst to a condo in Itasca, Phil and Connie Mangano are getting ready to move to another new condo—without spending a dollar. With just seven of 70 condos sold at Two Itasca Place, its developer, Don Morris, is converting the building into apartments and moving the Manganos and other buyers there into nearly identical condos next door at One Itasca Place...

Posted at 10:00 AM in Housing Bulletin | Permalink | Comments (0)

	02/29/12 Michael Jordan Lists Highland Park Mansion for $29 Million Michael Jordan, that most iconic of Chicago sports figures, put his gated Highland Park estate on the market this morning, asking $29 million. It is by far the highest-priced home listed in the Chicago area. A Barrington Hills estate is up for $14.9 million... Posted at 10:08 AM in Housing Bulletin \| Permalink \| Comments (0)
	02/29/12 Hinsdale is on a Tear Again Before the housing bust, Hinsdale was the Chicago area’s capital of teardowns, with more than 100 older homes replaced by new construction each year from 2004 to 2007. That pace slowed during the bust, but the demolish-and-replace trend has been percolating back to life—and accelerating in the past few months—say real-estate agents, builders, and the village official who monitors construction in that western suburb. After 29 demolitions in 2010, there were 35 in 2011, says Robert McGinnis, Hinsdale’s building commissioner, and he expects the village to top that in 2012... Posted at 9:50 AM in Housing Bulletin \| Permalink \| Comments (1)
	02/28/12 Rodkin on Sellers’ Unrealistic Prices Readers ask questions, and our real estate expert answers. This week, a reader named Bradley asks why some North Shore home sellers aren’t pricing their homes realistically for the 2012 market. Posted at 3:56 PM in DEQ's \| Permalink \| Comments (0)
	02/27/12 In Winnetka, Everything a House Ott to Be List Price: $4.995 million Sale Price: $4.4 million The Property: A grand manor home on two acres in Winnetka’s Indian Hill Club was sold February 17 for $4.4 million—just 46 percent of what its sellers were asking when they first put it on the market nearly six years ago... Posted at 10:00 AM in Sale of the Week \| Permalink \| Comments (0)
	02/23/12 In Hyde Park, a Cinematic Home Worthy of an Oscar List Price: $1.149 million The Property: Facing Promontory Point across Lake Shore Drive stands an 11-story co-op building with a façade so lovely it can only be called “cinematic.” That’s fitting, since the architects of what was originally called the Jackson Shores Apartments were Rapp and Rapp, the renowned designers of grand movie palaces, including the Chicago Theatre and Aurora’s Paramount Theatre... Posted at 10:09 AM in On the Market \| Permalink \| Comments (0)
	02/22/12 Real-Estate Listings Are Getting Greener With an increasing share of homebuyers putting energy efficiency and other green features at or near the top of their wish list, the Chicago-area multiple listing service is giving environmentally friendly features more prominence. Last week, Midwest Real Estate Data (MRED) added a Walk Score; it’s a measure of how many services can be accessed from a home without driving... Posted at 10:03 AM in Housing Bulletin \| Permalink \| Comments (3)
	02/21/12 Rodkin on Renting Out a Home to Buy Another Readers ask questions, and our real estate expert answers. This week, a reader named Rich from Glencoe asks about the specifics of turning his home into a rental in order to buy a new home. Posted at 1:21 PM in DEQ's \| Permalink \| Comments (0)
	02/20/12 Wicker Park’s Troubled Twins List Price (house on the right in photo): $990,000 Sale Price: $959,000 The Property: These mirror-image twins in Wicker Park share more than their contemporary brick-and-glass style... Posted at 9:15 AM in Sale of the Week \| Permalink \| Comments (1)
	02/16/12 In Lake Forest, an Old Estate Garage Gets a Lift List Price: $2.8 million The Property: In the late 1930s, the architect David Adler designed a pair of servants’ cottages that flanked the back entrance to the Lake Forest estate of Lola Armour. He used nearly as much detail on the cottages as he had on the huge main house, nearly a quarter of a mile away... Posted at 10:00 AM in On the Market \| Permalink \| Comments (0)
	02/15/12 Latinos Getting Hit Two Ways by Foreclosures Chicago’s Latino Policy Forum has discerned a painful irony: Latino neighborhoods and suburbs have a heavy concentration of both over-crowded housing units and empty foreclosures. “We have these two phenomena happening concurrently,” said Juliana Gonzalez-Crussi, the forum’s policy and housing analyst, when we talked on Monday... Posted at 9:35 AM in Housing Bulletin \| Permalink \| Comments (0)
	02/14/12 Rodkin on Telltale Signs That a Real Estate Market Has Hit Bottom Readers ask questions, and our real estate expert answers. This week, a reader named Beth from Streeterville asks what clues signal that the real estate market in her town or neighborhood has hit bottom. Posted at 2:48 PM in DEQ's \| Permalink \| Comments (2)
	02/13/12 After Five Years, Final Condo Sells at River North Building List Price: $1.199 million Sale Price: $1.115 million The Property: On February 9, the last of 20 condos at 30 West Erie was sold, more than five years after construction and sales began... Posted at 9:49 AM in Sale of the Week \| Permalink \| Comments (0)
	02/09/12 Two Competing Views of Belmont Harbor List Price (8th floor): $375,000 List Price (7th floor): $300,000 The Properties: Even among the many stately dowagers that surround it, 3314 North Lake Shore Drive stands out with its Beaux Arts façade, which features paired columns of bay windows that capture views out over Belmont Harbor... Posted at 10:00 AM in On the Market \| Permalink \| Comments (0)
	02/08/12 The Mack Daddy of Foreclosure Flippers The Tinley Park mansion that the former NBA star Antoine Walker lost in foreclosure when he declared bankruptcy in 2010 was left in sorry condition. Water stood waist-deep in the basement, murky goo filled the indoor pool, and at least 32 light fixtures were gone. But Jim McClelland Jr. and Eric Workman saw an opportunity... Posted at 9:35 AM in Housing Bulletin \| Permalink \| Comments (1)
	02/07/12 Rodkin on Building a New Home vs. Buying an Old One Readers ask questions, and our real estate expert answers. This week, a reader named Alex from the Northwest suburbs asks if the costs of building a new home are comparable to buying a five-year-old home. Posted at 12:37 PM in DEQ's \| Permalink \| Comments (0)
	02/06/12 A Second Chance for an Uptown Home List Price: $1.175 million Sale Price: $1.2 million The Property: In 2010, this quirky house built on three lots in Uptown in 1978 was on the verge of getting the interior updating it badly needed... Posted at 9:25 AM in Sale of the Week \| Permalink \| Comments (0)
	02/02/12 A Pre-Fire Farmhouse in Lincoln Park List Price: $1,574,900 The Property: Just off the thriving Armitage Avenue shopping strip, on a Lincoln Park street filled with homes from different eras, stands a house that watched them all arrive. Built in 1861 as the farmhouse for a truck farm that delivered its produce into Chicago, the house still has several of its original elements... Posted at 10:00 AM in On the Market \| Permalink \| Comments (1)
	02/01/12 Condo Swaps in Itasca A little over three years after they downsized from a house in Elmhurst to a condo in Itasca, Phil and Connie Mangano are getting ready to move to another new condo—without spending a dollar. With just seven of 70 condos sold at Two Itasca Place, its developer, Don Morris, is converting the building into apartments and moving the Manganos and other buyers there into nearly identical condos next door at One Itasca Place... Posted at 10:00 AM in Housing Bulletin \| Permalink \| Comments (0)

February 2012

02/29/12

02/29/12

02/28/12

02/27/12

02/23/12

02/22/12

02/21/12

02/20/12

02/16/12

02/15/12

02/14/12

02/13/12

02/09/12

02/08/12

02/07/12

02/06/12

02/02/12

02/01/12

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