Wednesday, November 28, 2007
Wednesday, November 14, 2007
3180 N Lake Shore Drive - Featured on WGN's Real Estate Deal of the Week
3180 N Lake Shore, Unit 4A was recently showcased by Dennis Rodkin from Chicago Magazine as being one of Chicago's deal of the week. Dennis spoke about this property this morning at 8:40am on WGN.
Check it out!
http://www.chicagomag.com/Radar/Deal-Estate/November-2007/This-Week-on-SpikeaNovember-14-price-cuts/
Check it out!
http://www.chicagomag.com/Radar/Deal-Estate/November-2007/This-Week-on-SpikeaNovember-14-price-cuts/
Saturday, November 10, 2007
Waguespack rejects Orloff garage
11/9/2007 2:17:00 PM Email this article • Print this article
Waguespack rejects Orloff garage
Alderman says size, neighbor opposition influenced decision
By TIMOTHY INKLEBARGER
Editor
Web Extra!
A controversial parking garage proposal by a luxury car dealership in Bucktown was rejected today by 32nd Ward Alderman Scott Waguespack.
The four-story garage proposed for the corner of Cortland and Hermitage by Howard Orloff Imports was already turned down by the Bucktown Community Organization's zoning subcommittee and the East Bucktown Neighbors, a group that formed earlier this year in opposition to the proposal.
"The community as a whole was vehemently against it," Waguespack said. "They had concerns regarding the damage the project would have done to the predominantly single-family neighborhood, and that's something I can't ignore."
Orloff has argued the garage would help consolidate its fleet of Jaguars, Land Rovers and Volvos that are now stored at various parking lots throughout the neighborhood. Orloff representatives could not be reached by press time.
Orloff has said the company still can build a smaller garage under the existing zoning, but it will not include many of the enhanced design features community organizations have bargained for under the four-story garage proposal.
Philip Edison, chairman of the BCO zoning committee, said the full membership has still not weighed in on the company's request for increased zoning.
"It was rejected [by the BCO zoning committee] really for the overall reason of the building is just too big," Edison said. "We felt the benefit the Orloff guys were getting from a zoning perspective was greater than the benefit the public was getting from the improvements of the garage being there."
He said his committee would reconsider its vote if the car dealer agrees to bring the building down a level by excavating or taking one story off the top.
"We do believe that the idea of building a garage and bringing cars in, rather than having them spread over the neighborhood, would have been improvement," he said.
CONTACT: timinklebarger@chicagojournal.com
Waguespack rejects Orloff garage
Alderman says size, neighbor opposition influenced decision
By TIMOTHY INKLEBARGER
Editor
Web Extra!
A controversial parking garage proposal by a luxury car dealership in Bucktown was rejected today by 32nd Ward Alderman Scott Waguespack.
The four-story garage proposed for the corner of Cortland and Hermitage by Howard Orloff Imports was already turned down by the Bucktown Community Organization's zoning subcommittee and the East Bucktown Neighbors, a group that formed earlier this year in opposition to the proposal.
"The community as a whole was vehemently against it," Waguespack said. "They had concerns regarding the damage the project would have done to the predominantly single-family neighborhood, and that's something I can't ignore."
Orloff has argued the garage would help consolidate its fleet of Jaguars, Land Rovers and Volvos that are now stored at various parking lots throughout the neighborhood. Orloff representatives could not be reached by press time.
Orloff has said the company still can build a smaller garage under the existing zoning, but it will not include many of the enhanced design features community organizations have bargained for under the four-story garage proposal.
Philip Edison, chairman of the BCO zoning committee, said the full membership has still not weighed in on the company's request for increased zoning.
"It was rejected [by the BCO zoning committee] really for the overall reason of the building is just too big," Edison said. "We felt the benefit the Orloff guys were getting from a zoning perspective was greater than the benefit the public was getting from the improvements of the garage being there."
He said his committee would reconsider its vote if the car dealer agrees to bring the building down a level by excavating or taking one story off the top.
"We do believe that the idea of building a garage and bringing cars in, rather than having them spread over the neighborhood, would have been improvement," he said.
CONTACT: timinklebarger@chicagojournal.com
Wednesday, November 7, 2007
Chicago Real Estate Market Statistics for October, 2007
Real data regarding the real estate market in Chicago for October, 2007 is not doom and gloom. According to ChicagoCondosOnline.com, based on year to date figures compiled through October, 2007, the city unit sales are down 6% YTD, but the good news is median sales prices are UP 5% compared to 2006.
For detailed charts on Month Over Month and Year Over Year: Go now to:
http://www.chicagocondosonline.com/marketoverview.html
As I advise all of my clients, when hearing and reviewing the data regarding home sales and the overall real estate market, it is very important to maintain proper perspective. When comparing 2007 sales to 2006 sales, one must keep in mind that real estate transactions were historically high in 2006. A 6% decrease in real estate sales in 2007 compared to 2006, a historic year for transactions, that number is not all bad.
If you are looking to purchase a new home, now is a good opportunity to look and purchase. The inventory of available properties is high and selection is at its best. Not only is selection high, interest rates remain at historically low rates. While the sub-prime mortgage collapse has impacted the mortgage business, it has not impacted credit-worthy buyers with substantial downpayments.
If you are looking to sell your home, the key is be patient and realistic. Market times are high because the inventory of available competing properties is high. If you are motivated to sell quickly, you must be realistic with your asking price. Contrary to what you may hear on the news or read in the paper, home/condos are selling. As is the case under any market conditions - properly priced property generally sells in the shortest period.
For detailed charts on Month Over Month and Year Over Year: Go now to:
http://www.chicagocondosonline.com/marketoverview.html
As I advise all of my clients, when hearing and reviewing the data regarding home sales and the overall real estate market, it is very important to maintain proper perspective. When comparing 2007 sales to 2006 sales, one must keep in mind that real estate transactions were historically high in 2006. A 6% decrease in real estate sales in 2007 compared to 2006, a historic year for transactions, that number is not all bad.
If you are looking to purchase a new home, now is a good opportunity to look and purchase. The inventory of available properties is high and selection is at its best. Not only is selection high, interest rates remain at historically low rates. While the sub-prime mortgage collapse has impacted the mortgage business, it has not impacted credit-worthy buyers with substantial downpayments.
If you are looking to sell your home, the key is be patient and realistic. Market times are high because the inventory of available competing properties is high. If you are motivated to sell quickly, you must be realistic with your asking price. Contrary to what you may hear on the news or read in the paper, home/condos are selling. As is the case under any market conditions - properly priced property generally sells in the shortest period.
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