Real Estate

Post Sponsored by Steven Katz

Charmed Living In Lincoln Square Under $300,000

From Neighborhood Realtor | Friday, June 22, 2012

4442 N Damen 2W Living Room Credit: Martin Konopacki

For Lincoln Square condo buyers under $300,000, The Robey, at 4442 N. Damen offers charm, location, vintage architecture and all the modern amenities. Setback from Damen Ave, Unit #2W (2 bed – 2 bath) is quiet, yet, close to the action. 4442 N. Damen #2W is a short walk to Brown Line and Metra transportation and to the center of Lincoln Square.

Feature rich best describes this home – from cherry hardwood floors to 1”1/4 granite sitting on a breakfast bar island to the Elfa organized closets and in-unit washer/dryer. Move-in ready! Enjoy the grilling patio, cook in the beautiful kitchen with an upgraded stainless steel appliance package or just relax in the natural light filled living room featuring exposed brick.  No detail was left untouched – including the beautiful landscaping and marble entryways. In-unit central heating and cooling.

Since 2011, available condo inventory in Lincoln Square is down 54% while buyer demand has increased. Mortgage rates continue to remain at historically low levels. It’s a combination of factors which has breathed new life back into the 2012 condo real estate market — helping many sellers transition to the next real estate phase of their lives.  (Source: Broker Metrics, 2012)

For a showing or to discuss the Lincoln Square market, contact the listing agent, Steven Katz of At Properties. 312-961-8589 or skatz@atproperties. www.lincolnsquareexpert.info.

Post Sponsored by Mike McCallum

Three Bedroom Condos Make Sense in North Center

From Neighborhood Realtor | Wednesday, November 30, 2011

4114 N. Lincoln Ave. Photo from listing.

If you’re in the market for a home in North Center, let me make the case for purchasing a three bedroom condo like this one at 4114 N Lincoln Ave. #303. Compared to the much more common 2 bedroom condo, a 3 bedroom has a couple important things working for it.

First and most obviously, the extra bedroom gives you another room for to use as a guest bedroom, child’s bedroom or home office. I’ve shown hundreds of 2 bedroom condos whose owners hastily put them on the market as soon as their first child arrived. In a market where it’s best to assume only moderate appreciation, it’s unlikely that values will increase enough over the course of 2-3 years to cover the costs of buying and selling.

The master bedroom.

What you’re really buying with the 3 bedroom is time…time to enjoy your home…time to pay down the mortgage…and time for the market to appreciate.

Second, during the condo boom of the last decade fewer 3 bedroom condos were built compared with 2 bedrooms. The following charts show there are over twice as many 2 bedroom condos on the market in North Center. We’re also starting to see more buyers ask for the additional bedroom for the reasons I’ve stated above. This is especially true in our neighborhood which has become so family-friendly with improving schools and parks.

This low supply and increased demand has resulted in a more balanced market for 3 bedroom condos. Currently the Months Supply of Inventory for 3 bedrooms is at 7 months compared with over 10 months for a 2 bedroom condo (most people consider a 6 months supply of inventory to be a balanced market). So, in the case of a 3 bedroom condo, it’s slightly a buyer’s market (but trending towards balanced).

North Center Condos for Sale by Number of Bedrooms

North Center Condos Months Supply of Inventory

P.S. To my friends in “Northcenter” I’m using the larger community area of “North Center” (two words) because that is the area used by the multiple listing service. This larger area also includes Roscoe Village.

Post Sponsored by Steven Katz

Unique Roscoe Village Single Family Home Conversion Opportunity For Under $800k

From Neighborhood Realtor | Monday, November 7, 2011

Front elevation of 3314 N. Hamilton Ave.

A bright spot of the current real estate market is single family homes in areas which have neighborhood schools in high demand. One of these schools is Audubon Elementary in the Roscoe Village neighborhood of Chicago.

New construction can be affordable. Check out 3314 N. Hamilton. It’s a 100- year old multi-family gut rehab conversion to a single family home. There are three levels of living space + basement and is ready for a buyer to customize their own finishes.

It is wider than a new construction home and has a yard that is two times the size of a new construction home and has the same square footage as a new construction home. Plus, a buyer will save on real estate taxes versus new construction.

It’s been gutted and framed with new plumbing, electrical and heating roughed in and is ready for a buyer to customize and finish. Plans and permits come with the home. This is a very unique opportunity for the area. Contact me to set up a private showing.

This home is exclusively marketed by Steven Katz, Realtor & Real Estate Advisor for At Properties. For a private showing, please contact Steve at 312-961-8589 or skatz@atproperties.com. Learn more about Steve at www.roscoevillageexpert.info.

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