Condo owners annually elect a board of directors to oversee the property’s maintenance and management. (If not self-managed), these boards hire property managers to advise them, to collect assessment fees, manage the maintenance staff, oversee repairs to the common elements, and to facilitate the transfer of property between condo buyers and sellers.
I’ve worked with fabulous property managers over the years, but I’ve seen condo associations fall prey to unqualified managers who give poor advice, squander maintenance fees, don’t plan for major maintenance projects, and impede property transfers.
Remember, owners — you are the BOSS! Don’t let the property manager let you forget who’s in charge, and always demand the best service. Know what to expect from your property manager to maintain the value of your home.
I (finally) am past the attorney review period on a sale which almost tanked, thanks to a property manager who didn’t feel compelled to give us information on
- how many condo owners in the association were in arrears (behind in their assessment payments), and
- how many condo owners were in foreclosure.
As it turned out, the association was in good shape — only 4 were in arrears and 1 in foreclosure — but because 10 days elapsed, the buyer almost chose to walk away from the deal.
This is the same condo where I couldn’t get 22.1 disclosure information unless my buyer paid a $300 fee, and where simple questions like “what is the per cent owner occupancy” were met with a rude, “go to the website and order the transfer packet (the $300 fee).
Is this a joke? It certainly sounds ridiculous. Even my seller called to ask a couple questions, and she was rudely shot down.
So, ask yourself — do you know all the answers to the 22.1 disclosure (see previous post)? If you ask your property manager, would he/she give you answers without having to fork over a fortune?
Maybe your board should review the property manager contract and review your service.
For information on Chicago real estate, homes for sale, and property management,
call Anne Rossley of Prudential Rubloff.
Tomorrow we’ll receive Michael’s letter from CPS – where he will go to high school for the next four years. I stayed calm all last week, knowing the deadline was approaching, and reminding myself that “everything works out for the best.” Letters were to be mailed on Friday, and we were expecting the news in Saturday’s post.
The mail arrived early, and there was no letter from CPS. I couldn’t breathe — my heart raced. I quickly called my neighbor, Mary, to see if she had received hers — maybe the mailman delivered our precious note to someone else by mistake.
Mary didn’t get a letter, either. It seems no one got their letter on Saturday. We would have to wait until Monday.
So here I sit. I’m not even sure what I’m hoping for, other than I hope he gets in somewhere. This new high school admission process is unnerving, I think mostly because we will only get accepted to one high school — we won’t have a choice. I’m ambivalent about the new “zip code economic factor” system — how will it affect our son? Our friends’ kids? The schools?
We applied to Ogden and Alcott, too, wanting to keep all options open. This is only their second year, and I’m not hearing a lot of buzz in favor of these schools. That’s not to say they won’t be a great option for many families. I just don’t think parents are seeking them out the way they fight for selective enrollment spots.
I think I’ll go to bed. One can think too much about things, especially that which is not in one’s control. One thing is for sure — things work out for the best!
Anne Rossley has raised 3 children in the Chicago Public Schools — this is her second child to go through the high school admissions process.
Anne has sold real estate in Chicago for over 20 years — call her if you have questions about schools or real estate!
Top 10 Reasons to Buy
411 W. Ontario #715
10. Built in 1916, this Chicago School style building once housed the Seaman Paper Company. In addition to manufacturing paper and tissue, the company supplied plastic helmet liners to our WW II troops.
9. Stay in shape — choose among an in-building workout room, a health club on the block, or the East Bank Club around the corner.
8. Dogs and cats are welcome
7. This top floor 2 bedroom 2 bath is located on the north (quiet) side of the building.
6. Doorman (24 hours), roof deck, dry cleaner, and on-site management by Wolin-Levin
5. In Unit Washer and dryer included
4. Wood burning fireplace with gas starter
3. 411 Ontario #715 is great for entertaining — the ample living and dining rooms are open to the kitchen with a large granite breakfast bar
2. A convenient parking spot is available for purchase in the attached heated garage for $ 35,000.
1. The unit is well priced at $ 389,000 — and you can make an appointment with listing agent Anne Rossley to see it today!
Contact Anne Rossley at Prudential Rubloff for all your Chicago real estate needs. Anne sells Chicago historic properties using tomorrow’s technologies!
Links of Interest:
Download Page 1 Page 2 of Brochure
For an in-town pied a terre or investment property, this one bedroom at 3950 N Lake Shore Drive is worth looking at…
For only $ 125,000, it’s across the drive from Waveland golf course and the harbors, the tennis courts and the lakefront bike paths. At the corner of Irving Park and the drive, you can catch buses west or express buses south. This location is ideal!
The apartment is a freshly painted 1 bedroom priced aggressively — this is the lowest priced one bedroom south of Irving Park on the lake and it has a lake view (Montrose Harbor!). The building includes a 24 hour doorman, commissary, dry cleaner, fitness center and sundeck. There is a parking garage attached to the building and management is on site.
Let’s say you purchased this condo with 20% down and secured a 5.25% loan — your payments BEFORE tax deductions would be only $ 1188.20 — less that $ 2 per square foot per month!
To see this or other pied a terre condos in Chicago, contact Anne Rossley at Prudential Rubloff. Anne can help you with all your Chicago real estate needs.
Anne is a Second Home Property Specialist (RSPS).
For further financing information on this property, Diane Pyshos (firstname.lastname@example.org) at Chicago Financial is a fantastic resource and I highly recommend her!
DIY is having an ugliest bath contest…
The funny thing is – as a Realtor, I’ve seen all these and worse!
As of this writing, the pink bath is in the lead. Personally, I think the silver foil wallpaper is frightening.
What do you think?
To see pretty baths in beautiful homes, call Anne Rossley at Prudential Rubloff.
Select this link to see the Fine Homes International Gallery in Chicago.
Lakewood Balmoral has been quiet this month. The entry property (lowest price) is 5323 N Wayne, reduced to $ 595,000. It’s situated on a 33′ wide lot, and the neighborhood resales are high enough to support a lovely rehab on this property.
5323 N Wayne
The top end of the market remains 5511 N Lakewood — Dave Kirk’s gorgeous rehab.
5434 N Lakewood
We’re waiting to see the closing of 5434 N Lakewood, and my recommendation for a “middle of the road” great buy in the neighborhood is 5253 N Lakewood, priced at $ 850,000 (it’s a 5 bedroom).
- 5253 N Lakewood
To see these historic Lakewood Balmoral homes in the Andersonville neighborhood, or for other single family homes for sale on Chicago’s north side, contact Anne Rossley at Prudential Rubloff.
Anne sells historic homes using tomorrow’s technologies!
It’s not often one can find a darling single family home in Andersonville for less than $ 600,000, but now 1665 W. Olive is available for $579,000.
This historic 1899 house has lovely hardwood floors, a newer kitchen, a sunroom, and a large back yard. There’s a family room and office in the lower level and a full bath on each floor — rare in Victorian homes.
The home is located at 5632 North (1665 West) — steps from Gethsemane and M Henry, just two of Andersonville’s famous retail hot spots.
Anne sells historic homes
using tomorrow’s technologies!
Just reduced to an outrageous $ 525,000, this fantastic home at 1657 W Carmen in Andersonville is a delight! The home boasts hardwood floors throughout, and has vintage details with modern upgrades. It’s 2 blocks from Clark Street and Andersonville retail.
Call today to see this gorgeous and well-priced home!
For information on other homes for sale in Andersonville, call Anne Rossley at Prudential Rubloff – (773) 620-5333.
Andersonville Chamber of Commerce
Edgewater Homes for Sale
Lakewood Balmoral Homes
Yes folks, it’s still available…
4120 N Hermitage has been on the market since August, and it’s been reduced to $ 545,000. This Victorian single family home is an estate sale, and it’s on one of those great deep lots in East Ravenswood — 165 feet deep!
It retains much of its original charm — natural woodwork, stained glass window, built-in hutch and butler’s pantry.
Call now to see this fabulous opportunity!
Uptown Homes for Sale
For information on historic homes for sale in Chicago, contact Anne Rossley at Prudential Rubloff.
This week’s focus in on 5253 N. Lakewood, located in historic Lakewood Balmoral. It’s been reduced to $ 850,000, and is now the best opportunity to own a single family home in Andersonville.
The home was built in 1903 on a 37′ wide oversized lot. Improvements include a renovated kitchen with Wood-Mode cabinets and Space Pak air conditioning. With 5 bedrooms and a lower level rec room, this is a true Victorian gem.
To see this or other vintage homes for sale on Chicago’s north side, contact Anne Rossley at Prudential Rubloff.