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Chicago Now

Our main blog has been moved to chicagonow.com/getting-real
but we occasionally post articles here as well.

How Much Does an Elmhurst Condo Cost? Check out Crescent Court

August 8th, 2014 by Sari Levy

Elmhurst Condos, Crescent Court

Elmhurst  Condo

Located in the heart of downtown Elmhurst and built in 2005, Crescent Court is an Elmhurst condo complex with about 120 units.  Located on York Street within walking distance to the train and the various shops and restaurants, it is one of the more desirable Elmhurst Condo choices.  Units range in size from 945 square feet to just over 2,400.

You can expect to pay upwards of $250.00 per square foot or more if the unit is highly finished. In the last year 10 units have sold between both buildings. Compared to other Elmhurst Condos, the price per square foot is fairly high.

On August 4th, 145 S York Unit 510 sold for $380,000. Listed by Coldwell Banker as the Berteau model with 2 beds and 2 baths and located on the buildings top floor, it boasted:

“ALL NEW CARPET, NEW GRANITE COUNTERS IN KITCHEN WITH BRAND NEW STAINLESS STEEL LG HIGH EFFICIENCY APPLIANCES. NEW FAUCETS THROUGH OUT KITCHEN AND BATHS. BATHROOMS HAVE NEW LG HI MAC VANITY TOPS/SINKS. “

A similar Elmhurst Condo in Crescent Court unit #310 is currently being listed by @ Properties and is priced at $349,000.  It boasts bamboo floors, a private balcony and 2 parking spots.

Check out more Elmhurst Condos for sale.

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Extremely Low Home Inventory Levels in DuPage County Continue In April

May 21st, 2014 by Sari Levy

The inventory of single family homes for sale in DuPage County has decreased more than 38% from April 2013 to April 2014, with condos and townhomes remaining fairly stable with only a 5% decrease. April 2014 had a 3 month supply of single family homes for sale in DuPage County, compared to a 4.8 month supply last year.

Condos and townhomes had a 4.6 month supply compared to a 4.9 month supply in April 2013. Cook County is seeing extremely low inventory levels as well. The inventory of single family homes for sale in Cook County decreased almost 21% since April 2013, while the condo and townhome inventory decreased almost 19%. Cook County had a 3.5 month supply of homes for sale in April 2014, while there was a 4.4 months supply of condos and townhomes. In April 2013, Cook County had 5.4 months supply of condos and townhomes and 4.5 months of single family homes for sale.

These inventory numbers vary city by city, so if you’d like specifics on your area, please let me know. Whether you are interested in selling or planning to buy a home, give us a call to get our perspective and further data.

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High Home Demand With Low Inventory Levels In Lombard

February 17th, 2014 by Sari Levy

Much like Elmhurst and Hinsdale, demand for well priced single family homes in Lombard is high but the inventory is super low. We recently sold an adorable 3 bedroom ranch home in Lombard with an overwhelming response. Within 2 days we had 16 showings and on the second day we had an accepted offer. The number of buyers that are in the market and waiting for more homes to come to market is larger than ever, but there is actually a shortage of properties to buy, indicating we are in a strong seller’s market.

The graph below shows the single family home and detached home inventory levels in Lombard over the last 5 years, courtesy of MRED. The inventory of single family homes for sale in Lombard has been decreasing year after year since a peak of almost a two years supply in 2011.  In sharp contrast, January 2014 ended with only a 3 month supply of single family homes for sale. This is more than a 36% decrease since January 2013 when Lombard had just under a 5 month supply of single family homes available which is down from the year before when there was 7.5 months of inventory.

Lombard MSI chart

 

If you’ve been on the fence about selling your home and are in the Lombard area, now is the perfect time to get it on the market before the competition increases. The time a home stays on the market before it sells is about 3 months.  Those priced above $300,000 tend to take an extra month to sell.  Follow our link if you wish to see recently sold homes in Lombard,

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An Insider’s Guide To The Home Sale Process

January 27th, 2014 by Gary Lucido

tell you a secretIf you’ve visited our site before or read my blog on Chicago Now (Getting Real) you’ve probably picked up on the fact that I have a rather irreverent take on the real estate industry. In fact, the reason I decided to become a real estate broker is because the whole industry seemed broken (Nothing altruistic here. Broken industry = business opportunity). But not everyone reads my blog religiously and as I meet with prospective clients I realize that there are still a lot of misconceptions out there. No surprise there because the real estate industry has a vested interest in perpetuating those misconceptions.

So it occurred to me, maybe it’s time to educate the market – something faster than one client at a time. Therefore, on February 19th, I will be hosting my first Real Estate Seminar: “Secrets to smart home selling, demystifying the sale process.” Just in time for the beginning of the home selling season in Chicago.

This free event is open to everyone, but will focus on the sell side of the real estate market (not to worry, I intend to have a buyer’s seminar soon!). I will be drawing on my years of experience to give you all the tips and tricks I’ve learned along the way. But first things first, let me give you an overview of exactly what I’ll cover.

First, we’ll review the market to understand what’s happened since the great recession and review the current home seller trends. I’ll show you why now is the best time to sell in the last 5 years.  In addition, I’ll provide insight into what determines the value of your home and the key misconceptions traditional brokers perpetuate.  And speaking of traditional brokers, I will provide insider information on what you should expect, dare I say demand, from a realtor and how to be wary of the popular myths they propagate. We’ll then dive into topics such as:

  • Understanding how realtors make money and how to make that work for you
  • Understanding the home buyer and the buyer funnel
  • What really makes a house sell?
  • How to pick a realtor

I’ll have plenty of other information to share as well. So please join me by clicking here to save your seat. Feel free to bring a friend or two… I’m pretty sure they will benefit from this seminar. I’ll definitely give you plenty to talk about. See you soon!

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2012 Du Page County Property Tax Rates

December 11th, 2013 by Sari Levy

A few years back, I wrote an article on calculating property taxes in the various communities of Du Page county.  Thanks to the Du Page county clerk, the updated table below reflects property tax rates for Du Page county communities in 2012.  The towns are listed in order from those with the highest to lowest tax rate.  Oak Brook continues to have the lowest property tax rates (and some of the highest home values) in Du Page county.

It is certainly easier to think about property taxes in terms of % of purchase price.  Most townships will review an appeal of taxes with a recent purchase.  However, the appeal typically lasts only a year until the assessor determines the value according to their method.  Take a look at my previous post for the property tax formula in Du Page county.

1. Glendale Heights 11.4035
2. Hanover Park 10.9595
3. Bartlett 10.1029
4. West Chicago 10.0131
5. Bensenville 9.3340
6. Carol Stream 9.3051
7. Aurora 9.2872
8. Woodridge 9.1027
9. Bolingbrook 9.0120
10. Wayne 8.6775
11. Winfield 8.3995
12. Elk Grove Village 8.2982
13. Lombard 8.2547
14. Addison 8.1764
15. Glen Ellyn 7.8773
16. Villa Park 7.7659
17. Lisle 7.6868
18. Bloomingdale 7.6694
19. Itasca 7.5530
20. Wood Dale 7.4751
21. Roselle 7.4261
22. Warrenville 7.3779
23. Wheaton 7.3580
24. Elmhurst 6.9301
25. Naperville 6.7945
26. Darien 6.7155
27. Westmont 6.6881
28. Clarendon Hills 6.1747
29. Downers Grove 5.8730
30. Oak Brook Terrace 5.8489
31. Hinsdale 5.4654
32. Burr Ridge 5.0382
33. Willowbrook 4.8933
34. Oak Brook 3.5871
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Addison, Wood Dale, Itasca, and Other Chicago Suburbs
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