2344 Lincoln Park West #3, Chicago IL 60614
MLS# 08000561

Enchanting Beaux Arts Beauty!

Entire floor in a Beaux Arts beauty! Enchanting six unit elevator building affords privacy in Lincoln Park’s best location on the park.  Lake and park views plus four exposures let in the sunlight and the seasons, and the open, flowing floor plan affords flexible use for contemporary living. 

The expansive 35” foyer fronts the bay windowed double parlor with gas fireplace and carved columns.  Marvelous formal dining room with exquisite ornamental ceiling leads to informal window seated breakfast nook.  The sizeable kitchen was remodeled with Snaidero cabinetry, Thermidor, Subzero and Gaggenau appliances and features a breakfast bar, cooking island, prep sink, planning desk and additional family room storage.   

Two separate bedroom wings house the five bedrooms and four full baths.  The front section contains the master plus two additional bedrooms, all with en suite baths and generous closets.  The rear wing has two bedrooms and a full bath complete with malachite custom tile work and double sink vanity.  

Two car attached, heated garage parking and storage locker are included, and the building features passenger and freight/service elevators, landscaped entry, and a superb Lincoln Park location.

MAKING A POSITIVE DIFFERENCE IN PEOPLE'S LIVES.

Karen Breen Elia & Louis M. Elia, REALTORS®, are brokers for homes, condos, and multi-unit properties on Chicago's North Side.

ChicagoCityHomes, RE/MAX Exclusive Properties
2951 North Lincoln Avenue  
Chicago IL 60657
Toll Free: (866) 404-3585 Fax: (773) 938-1467  Send An Email

We know Chicago!  Call us today!

5300 N Ravenswood Ave #1W, Chicago IL 60640
MLS# 07998871

Awesome Andersonville Duplex!

Awesome Andersonville duplex up in quiet, gated, landscaped garden! Unique three bedroom home that lives like a townhouse with a private entrance into the voluminous great room with 18’ ceiling, hardwood floors, and slate gas fireplace. The kitchen features an island breakfast bar, granite countertops, maple 42” cabinets and stainless steel appliances. Two fully enclosed bedrooms plus a full bath complete the first floor. The upper level features an open loft perfect for an office, playroom or exercise space. The master suite has three full closets, and the large, sunlit master bath features a whirlpool tub, separate shower and double sink vanity. Side by side laundry, private patio, separate storage room and assigned parking complete the package. Walk to transportation, and all Andersonville restaurants & shopping. Truly original, truly wonderful!

MAKING A POSITIVE DIFFERENCE IN PEOPLE'S LIVES.

Karen Breen Elia & Louis M. Elia, REALTORS®, are brokers for homes, condos, and multi-unit properties on Chicago's North Side.

ChicagoCityHomes, RE/MAX Exclusive Properties
2951 North Lincoln Avenue  
Chicago IL 60657
Toll Free: (866) 404-3585 Fax: (773) 938-1467  Send An Email

We know Chicago!  Call us today!

205 Circle Ave Unit 1C, Forest Park, Illinois 60130
MLS# 07993281

I’m big and beautiful and ready for you to move in!  Not a short sale or foreclosure, this lovely and very bright one bedroom condo has deeded parking included in the price.  Open, flowing floor plan features cherry floors in living room, dining room and bedroom.  New stainless steel appliances in the large open kitchen.  Bedroom has a full wall of closets plus hall coat and linen closets.  This is an end unit, and the laundry room is steps away.  Walk to Starbucks, Whole Foods, Trader Joes, movies, shopping, restaurants, all Madison St. shops, food and entertainment.  Low assessments include heat.  FHA approved association, so I’m easy to buy as well. 

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Key Components

Building Blocks addresses the foreclosure crisis in the pilot areas in three ways

1. Financing to rehabilitate vacant properties. A new revolving loan fund, with $40 million in Illinois Jobs Now! capital funds and $10 million from Cook County, will facilitate the acquisition and rehabilitation of vacant properties within the targeted areas.

2. Assistance for homebuyers. Significant financial assistance will be made available for purchasing vacant properties as a primary residence in the targeted areas. To qualify, the vacant property does not need to be one of those rehabbed in the program. The State of Illinois will provide: 

• Grants of $10,000 for down payment and closing cost assistance for up to 500 homebuyers purchasing vacant properties
• Affordable first position mortgages to qualified buyers to make the cost of purchasing vacant homes in the communities as affordable as possible
•  A lowered FICO score threshold that will allow a greater number of potential homebuyers to qualify

3. Support for existing homeowners. Foreclosure counseling, loan modification programs and other resources targeted throughout the pilot communities to current homeowners to help families avoid foreclosure and keep their homes. Targeted outreach and events will connect these communities to:

• Qualified, HUD-certified housing counselors, free of charge
• Financial assistance from the Illinois Hardest Hit program, which provides up to $25,000 in mortgage assistance to qualified homeowners having trouble making mortgage payments due to unemployment or under-employment.
• Legal clinics that offer foreclosure prevention services free of charge

Financing the creation and preservation of affordable housing

• Targeted foreclosure mitigation events with one-on-one counseling, and access to loan servicers who can discuss loan modifications and work-out agreements on the spot.
•  Additional information on refinancing options, loan modification options, federal and state resources, including HARP, HAMP and other programs.
•  Advice on how to avoid mortgage fraud, job search opportunities, financial planning and other counseling services.

The Illinois Building Blocks Pilot Program will also leverage existing efforts already underway in many of these communities, particularly federally-funded Neighborhood Stabilization Program (NSP) development. Under Governor Quinn, Illinois has committed $58 million in NSP funding to restore nearly 450 foreclosed or vacant housing units in Illinois, creating an estimated 580 jobs.

In addition to federal NSP development, Building Blocks leverages local efforts, ongoing Cook County funding, and regional strategic planning in a comprehensive coordinated approach.

• 200 jobs
• $13.2 million in local business income and wages
• $1.4 million in local taxes
• $8.3 million in income for local businesses generated from real estate-related industries, including construction
• $2.6 million in additional local expenditures to boost local businesses, such as purchase of furniture, appliances and other home items

Information is courtesy of the Illinois Housing Development Authority.

http://ping.fm/GRWX1

Forbes.com cites Chicago as having one of the nation’s best downtowns!  

“As for a downtown among the country's biggest cities, none come close to Chicago for its range of offerings and combination of stunning architectural monuments, waterside views, shopping options and recreational opportunities. Stare up at the austere exactitude of Mies van der Rohe's buildings (such as the black tower of the IBM Plaza), wander through the packed halls of the Chicago Institute of Art to view its impressive collection or catch a speedboat off Navy Pier to tour the Lake Michigan waterfront. Endless things to do and places to eat, all in a walk-friendly area, make it one of the best downtowns in the United States.”

Well, we knew that but it’s nice to see in print that others are recognizing our exceptional city!

Speaking of Chicago,  Studio Chris has created a line of posters and greeting cards that focus on Chicago’s neighborhoods.  It’s interesting both from a graphics and editorial standpoint.  His visuals are arresting, and I love his choices of landmarks that make each neighborhood instantly recognizable.  

http://studiochris.com/

I lived beneath the shadow of that clock in Ravenswood for 8 years, and feel that it definitely captures the essence of that neighborhood!  I’m looking forward to future selections of other neighborhoods.  It would be interesting to know what you think captures the essence of a neighborhood.  

Send me your thoughts and I will award two dining gift certificates from restaurants in the winning neighborhoods.

Enjoy January in Chicago.  And happy 2012!

It would seem to many that home affordability should be at an all time high.  With most markets, including the Chicago real estate market, experiencing a 30% drop in value from the highs of 2007, one would think that affordability would be a factor that was showing improvement.  Recent statistics seem to bear this out.  November pending sales rose 7.3% to an index of just over 100 based on the National Association of Realtors Pending Home Sales Index.  This index  which tracks pending (under contract) sales figures, does not reflect closed sales.  It was established in 2001 at 100.  During the “bubble years” the index rose way above that point, but in recent years, has only exceeded 100 in April 2010 when it rose to 111 as a result of the termination of the homebuyer tax credit.  The ascent of the index to over 100 in November is encouraging news since there was no artificial stimulus, such as the homebuyer tax credit, and the new level is just a reflection of a better, more confident economy.  

One side note is that the cancellation rate, which usually hovers at about 10%, rose to 30%.  My feeling is that this is due to short sale and foreclosure fall out, and not a reflection of traditional sales cancellations.  Distressed properties bring their own set of challenges to both the investor and owner occupant, and the deal that is too good to be true, usually is.  Chicago real estate investors need to examine their holding and rehab costs, and owner occupants need to have both time and capital to bring the property up to their standards.  There are many little known expenses, such a local ordinances which may require a new owner to pay back assessments, and fees.  If you are interested in perusing distressed property, be sure you are working with an expert in the field.  Both Louis and I have both classroom and practical experience in successfully purchasing both short sales and foreclosures.  We would be happy to discuss your real estate aspirations.  

It bears noting that sales of the lower price points properties are surging.  Nationally, the upper bracket appears to be languishing and perhaps still declining.  The good news is that here in Chicago, the upper bracket is definitely improving.  For example, in Lincoln Park (60614), there were 64 detached single family homes that closed between January 1, 2011 and June 30, 2011.  The average sale price was $1,504,504 and the median sale price was $1,299,500. Three of these sales were foreclosures and three were short sales.  For the same area, there were 79 detached single family closed sales between July 1, 2011 and December 31, 2011.  The average sale price was $1,543,562 and the median  sale price was $1,425,000.  Of these, three were foreclosures and seven were short sales.  This shows an increase of just over 2.5% on average sale price.

In Streeterville (60611 zip code) for the same time periods, there were 99 closed sales of condominiums with at least three bedrooms and at least 2 ½ baths between January 1, 2011 and June 30, 2011.  The average sale price was $1,530,409 and the median sale price was $1,225,000.  Four of these sales were foreclosures and one was a short sale.  There were 91 closed condo sales of at least 3 bedrooms and 2 ½ baths in the same area between July 1, 2011 and December 31, 2011.  The average sale price was $1,689,040 and the median sale price was $1,200,000.  Of these sales, four were foreclosures and one was a short sale.  This shows a whopping increase of over 10%!  These are certainly statistics that we will continue to monitor. 

It is also interesting to note that 2011 wound up with sales in the last quarters which were much stronger than usual in Chicago real estate.  Over the last 23 years, I have seen the sales pattern to be one of early strength (February through August), and find the last third of the year to be very weak in terms of numbers of sales.  2011  proved to start slowly, but picked up steam throughout the fall.  This a contrary to the sales patterns we have seen in years past, and continues to portend a upward swing in both volume and sales price. 

On a personal note, we are celebrating another new beginning.  Our daughter, Ashleigh will be married later this month.  We are thrilled at the happiness that Ashleigh and Dean are sharing.  Some of you may remember that Ashleigh worked with us for a time, and for those of you who have been our clients for many years, you may remember her as my little red headed helper when she was younger.  

Wishing you all a year of joy and good health.    

When we first met in my condo, you were friendly and outgoing.  After we carefully discussed my situation, you suggested a short sale.  You came very well prepared with information on the recent sales, time on the market, and asking/actual sold price differences for not only condos in my building but for those in the surrounding neighborhoods.  You took the time to explain everything to me thoroughly and answered all my questions, making sure I understood completely about short sales, foreclosures, renting possibilities, and what exactly was happening in the real estate market, so I could make the best decision for my situation.

There were a lot of ups and downs pertaining to the sale of my condo because of the bad market; so much paperwork from the mortgage company, the lawyer, and the banks, but through it all you remained calm and confident, which in turn kept me calm, and for me, being halfway across the country, that meant a lot!  You really did get me through this ordeal.  This Chicago condo was my first real estate purchase and first real estate sale and you walked with me through it every step of the way, constantly explaining everything that was happening and truthfully answering all of my questions.

I truly cannot thank you enough. I believe the sale of my condo NEVER would have happened without YOU!!!!  I have told family and friends how wonderful you are and how you really know your business when it comes to “all things real estate”. It is obvious you have been in this business for a long time, you are up-to-date on current issues/processes regarding real estate information. You are honest and open about everything and you truly care about your clients!  I am so happy and grateful to have met you and was able to work with you. I would call you again in a heartbeat!! 

Again, thank you for selling my condo and thank you for everything!

Deidre Hogan

4250 N Marine Dr #426, Chicago IL 60613
MLS# 07947504

Affordable, secure and ultra quiet!  Lowest priced full size one bedroom in Imperial Towers!  Not a short sale or foreclosure! This desirable low floor unit has a backyard view, new carpet and paint.  Closets, closets, closets! Retro kitchen and ceramic tile bath.  Ultra amenity building with pool, 24 hour door staff,  exercise room, party room, valet, receiving, commissary, library, lounge, bike room, storage, coin laundry, on site management and engineer.  No rental restrictions.  Great for investor or live-in owner!

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John has testified before a U.S. Senate committee and lobbied the federal government for policies to support the ailing housing market. He also authored a paper outlining the National Association of Realtors' proposals for righting things.  Here is a link to his blog post about concrete actions to start us on a solid housing recovery.

http://lennoxscottblog.com/2011/10/18/new-solutions-for-americas-housing-crisis/

Likewise, FHA and VA loans are also exempt from any debt reduction relief.  Although debt reduction loan modifications have been shown to be more successful than mortgage payment loan modifications, there is a moral hazard that would be created by wider acceptance of the debit reduction modifications.  If I paid $400,000 for my house and am making the payments and keeping current, and you paid $400,000 for your house next door, but are able to reduce your debt by a loan modification, how happy will I be?  Are we risking the entire "promise to pay" system by extending debit reduction modifications?  Perhaps a grace period with a defined expiration date would be the answer. 

Read this article for more info:
http://www.nytimes.com/2011/10/06/business/opposition-from-freddie-and-fannie-stalls-debt-reduction.html?_r=2&ref=todayspaper
 

http://www.marketwatch.com/story/mortgage-rates-plunge-beyond-expectations-2011-10-05?siteid=nwhpf

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4140 W Oakdale Ave, Chicago, Illinois 60641
MLS#  07867388

IMMACULATE CHARM IN AVONDALE!

Welcome to this beautifully kept, charming brick bungalow on a secluded, leafy street in Avondale. Enter into the foyer through French doors to the airy living room with cove moldings and a lovely decorative fireplace. There’s hardwood beneath the carpet in both the living room and formal dining room with arched doorway. The eat-in kitchen has a welcome walk in pantry and maple floor and leads to the enclosed 3 season sunroom with built in storage. Two bedrooms with hardwood floors, and a full ceramic tile bath complete the main level. Second floor features the master bedroom with half bath plus additional insulated attic space for future expansion. The ultra-clean full basement is ready for your finishes and comes complete with a wood burning stove, piano, workshop, wine cellar. There are glass vented glass block windows for light, ventilation and security. This home has all newer replacement windows, a recent tear off roof, and gutters, new garage door for the two car garage. Don’t miss this one!

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The selling price of your Chicago real estate really doesn’t matter. When it comes to how much house you can afford, the interest rate on your loan is more significant than the price itself.  

According to specialists, for every 1 percent of mortgage rate growth, your home buying potential decreases 10.75 percent. That means if you could afford a $600,000 house when interest rates are 4.5 percent, you can only acquire a $535,000 house when the rates go up a percentage point to 5.5 percent. This is assuming your monthly mortgage payment remains the same. For each 0.125 percent increase to mortgage rates, your maximum affordable purchase price drops 1.35 percent.

Over the past 20 years the interest rates on 30-year fixed rate mortgage not been lower than 5 percent since 1991, which is extraordinary.

The point is that you can purchase more Chicago real estate for the same monthly payment if you buy when the rates are low. That means now! Interested? Give me a call or send me an email and I will show you how to get the most house for your money!

Chicago Foreclosure Geographical Comparison

Chicago foreclosure activity in October was lower 0.09% higher than national statistics, 0.05% higher than Illinois statistics, and 0.05% lower than Cook County numbers.

Chicago Foreclosure Activity by Month

 The number of Bank-Owned Chicago homes decreased from 1,312 homes in Sept to 995 in Oct. The number of Auctioned Chicago homes decreased from 1,431 to 1,383 and Pre-foreclosure acitivity climbed from 1,437 to 2,017. The six month Chicago foreclosure trend is falling.

Are you or someone you know behind on your mortgage payments and facing a Chicago foreclosure? You do have options. A foreclosure is not the only way. A short sale may be the answer to saving you, your family and your home. I am a Certified Distressed Property Expert (CDPE). I have the training, knowledge and experience needed to help save your Chicago home from foreclosure. The clock is ticking. Don’t hesitate. Give me a call for a private consultation.

Learn more about selling your Chicago home.

What’s your Chicago home worth?

Ode to Thanksgiving

To our national birds
The American Eagle
The Thanksgiving Turkey
May one give us peace in all our states
And the other a piece for all our plates

What did the Pilgrims eat on Thanksgiving?

It is commonly believed that the first actual celebration of the harvest and blessings from God took place in Plymouth in 1621. The festivities lasted three days and included feasting, entertainment, and competitions. For more about the holiday’s history!

Who Doesn’t Love a Parade?

The first annual Macy's Thanksgiving Day Parade took place in 1924. That first year, it was known as the Macy's Christmas Parade. It was created to launch the holiday shopping season. Today, the parade is attended by an estimated three million people each year. Approximately 44 million people around the country watch the parade on television.

Other large parades which commemorate the holiday are the IKEA Thanksgiving Parade in Philly, McDonald’s Thanksgiving Parade in Chicago, and the UBS Parade Spectacular in Stamford.

Find holiday-themed wallpaper or screensavers here!

Want some holiday music to enhance your gathering? Get free, fast downloads of 30+ songs. 

“If you want to turn your life around, try thankfulness.”  …. Gerald Good

Thanksgiving Around the World

Thanksgiving is essentially a harvest related festival. It celebrates communal harmony.

Canada celebrates Thanksgiving on the second Monday in the month of October.

India also has a number of harvest related festivals in different regions.

Other Thanksgiving traditions around the world.

Money-saving tips for Thanksgiving--something we would all be thankful for!

1.      Have a BYOD (bring your own dish) celebration. Asking your guests to contribute to the meal is a great way to save on expenses--and on your own cooking time.

2.      Keep it simple. Cut down on the number of side dishes you have. A festive table doesn’t have to be extravagant.

3.      Serve boxed wine or large bottles of soda. Cans and individual bottles are far more expensive.

4.      Use natural items for decorations--leaves, fruit, squash, gourds, pumpkins, and dried flowers from your garden. A large candle and colorful fruit make a lovely centerpiece. Visit a dollar store for inexpensive holiday items.
5.      Check store ads for sales and coupons before you shop for Thanksgiving Day goodies.

6.      If time and your schedule allow, bake it yourself. Baking all your pies at one time will also save energy costs.

7.      Plan ahead for using the leftovers. In addition to the tradition soup and sandwiches, think about turkey chili, tacos, frittatas, enchiladas, salads, and even paella.  Note: price per pound of a turkey decreases with weight. The bigger the bird, the less the cost--and the more for leftovers!

8. Volunteer. Soup kitchens, church outreach programs, and ‘Meals On Wheels’ can certainly use help, so skip the shopping, share your time with others, and let your family members see how fortunate they really are.”

“If the only prayer you said in your whole life was, “Thank you,” that would suffice.”         Meister Eckhart

Interesting facts:

More than 40 million green bean casseroles are consumed each Thanksgiving!

Tofurkey, a soy-and-wheat based turkey alternative, was created by Sam Tibbot in 1995 and continues to be a popular choice among vegetarians.

And speaking of vegetarians…there are lots of websites with fabulous vegetarian recipes and ideas for veggie stuffing, gravy, sides, and all foods Thanksgiving. Prefer organic? How about diabetic recipes for appetizers, sides, breads, and desserts?

Here’s a complete holiday planning guide. Menu ideas. Everything you wanted to know about turkey.

Videos on choosing, thawing, stuffing, roasting and carving the bird. Wines ideal for thanksgiving dinner. Don’t forget dessert!

Tired of the same old, same old? Here are alternatives to turkey.

Thawing, cooking, and serving the bird:

To calculate the amount of food you’ll need, follow this guide.

• Whole turkey--1 lb. per person
• Bone-in turkey breast--¾ lb. per person
• Boneless turkey breast--½ lb. person

Time required for thawing the bird: for each 4 ½ lbs. of frozen turkey, allow 24 hours of thaw time in the refrigerator. Once fully thawed, the turkey may be refrigerated for 1-2 days.

Quick" thawing method: Place turkey in its original wrapping in sink and cover with COLD water. Change the water every 1/2 hour to maintain the temperature. Allow 1/2 hour per pound to defrost the turkey. Most turkeys will take from 5 to 10 hours to thaw.

Share Thanksgiving greetings with friends via email or send a mobile greeting free of charge.

Don’t forget the kids!

There are so many Thanksgiving activities for the younger set to take part in, especially while they’re waiting for the turkey to cook.

Make memories with these turkeys made from tracings of your child's hands and feet.

Use fresh and dried leaves for art projects like the creative ones at Squigly's Playhouse.

Make a simple banner using coffee filters and printed letters looks more complicated than it is. Children will love folding the filters to look like turkey tails.

This Thanksgiving Feast is a fun arcade-style food game for kids to learn about nutrition.

Celebrate the Thanksgiving with holiday coloring pages.

Create your own log cabin on paper using Popsicle sticks.

Think you are smarter than a TURKEY? Go on a turkey hunt and find out!

Get games and puzzles that are too numerous to count and just plain fun!

Everyone will love the Thanksgiving word scramble, a fun word search and the color and print eye chart.

Holiday Humor for the young--and young at heart

• Can a turkey jump higher than the Empire State Building?
  Answer:  Yes - a building can't jump at all
• Which side of the turkey has the most feathers?
  Answer:  The outside
• Why do Pilgrims have trouble keeping their pants up?
  Answer: Cause they wear their belts on their hats!
  
• What is the Turkey's favorite black tie celebration?
  Answer:  The Butter Ball

   

• Want more?

Thanksgiving Traditions

Here you can download Over The River and Through the Woods.

Nothing says Thanksgiving more than traditional football rivalries.

Holiday Travel

If your ‘over the river and through the woods’ trip is not taking you to Grandma’s, you might want to visit Road Trip America to help plan.

Traveling with kids? Here are tips to help entertain them.

So there you have it--facts, tips, humor, recipes, quotes, and websites to guide you to everything you have ever wanted to know about Thanksgiving.

May your Thanksgiving be an enjoyable celebration shared with friends and family, and one filled with gratitude for all your blessings!

Have a wonderful Thanksgiving!

The plan backed by affordable-housing advocates was approved by the Finance Committee on a 13-8 vote but needs at least 26 votes in the full City Council. Read the whole story.

Read Amy Hoak's article in the Wall Street Journal to help you make up your mind.