February 2009

CPS Elementary School Choice — Winning the lottery at a Magnet

February 26, 2009

This is the time of year that preschool and 8th grade parents wait by the mailbox to receive their Chicago Public School letters of acceptance.  What a stressful time!  The 8th graders learned of their high school acceptances via mail this past weekend, and preschool parents will find out their answers for elementary schools in [...]

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First Time Buyer Tax Credit Explained

February 18, 2009

On February 17, President Obama signed the American Recovery and Reinvestment Act of 2009, a $780 billion plan to stimulate the economy and move the housing industry. Included in this plan is the first time buyer tax credit. Here, the National Association of Realtors spells out just what the plan includes, and what is different [...]

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Weekly Chicago Real Estate Update

February 17, 2009

New Listings Outpace Contracts 6:1 This week, 380 new properties went on the market in the Chicago North market areas*, while 65 were put under contract. Currently active listings include: Single Family Homes     606 Condos/Townhomes/Co-ops     5547 And, 65 homes went under contract this week: Single Family Homes     5 Condos/Townhomes/Co-ops     60 32 properties closed. *  MRED [...]

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Million Dollar Homes Across America

February 13, 2009

CNBC posted a slide show on what $ 1MM buys you across America.  “Million Dollar Homes Across America” is fun to see–take a moment to look! I always enjoy seeing property from around the country. Then I thought, “What about homes across Chicago?” What does $ 1MM buy in various Chicago neighborhoods? Stay tuned — [...]

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Lakewood Balmoral — A Great Chicago Neighborhood

February 12, 2009

Lakewood Balmoral is one of Chicago’s best kept secrets! Location Between Foster and Bryn Mawr you will find 3 incredible streets – Magnolia, Lakewood, and Wayne . Their close proximity to Lake Shore Drive make getting to the Magnificent Mile a quick 10-15 minutes.  Access to the northern suburbs is a breeze via Sheridan Road, Ridge, [...]

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Four Edgewater Single Family Homes Under Contract in January

February 6, 2009

The following homes are now listed as “contract pending” in the Multiple Listing Service: List Price Rooms BR BA 5659 N Glenwood $485,000 8 4 2.1 1655 W Hollywood $725,000 11 4 3.1 5540 N Wayne $764,900 7 3 2.1 5705 N Ravenswood $779,000 9 4 3.1 Today, there are 46 homes for sale in [...]

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Illinois Appellate Court overturns the Chicago landmark property ordinance

February 4, 2009

An Illinois Appellate Court overturned the Chicago’s landmark property ordinance, which protects the 259 individual properties and 50 landmark historic districts from demolition or alteration.  Since 1968, the Commission on Chicago Landmarks has been responsible for protecting Chicago’s historic properties. Judge James Fitzgerald Smith was quoted, saying “We believe that the terms ‘value,’ ‘important,’ ‘significant,’ and [...]

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