Chicago Illinois Real Estate Blog

RREEF, the real estate investment arm of Deutsche Bank AG (DB), said it bought a 40-story apartment tower in Chicago and two multifamily complexes in Seattle for a total of $151 million to take advantage of rising rents.
RREEF America Real Estate Investment Trust II purchased Cityfront Place, a 480-unit building with views of Lake Michigan [...]

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Navy Pier, the most popular tourist attraction in Illinois that almost nine million people visited in 2010, is not world-class enough. So says Navy Pier Inc., the non-profit firm that took over the management of the downtown center, with plans to start a $155 million upgrade plan, as well as a boutique hotel.
The new non-profit [...]

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More apartment owners are optimistic about their properties this year, enough to start raising rents, according to a recent survey by credit agency TransUnion. The locally based company released the survey, compiled with 1,252 property managers nationwide, on Friday at the 2011 National Apartment Association Education Conference and Exposition in Las Vegas.
The company surveyed 1,085 [...]

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The family that rented Chicago Mayor Rahm Emanuel’s home has moved out, officials said.
"We are moving," Rod Halpin’s wife Lori told the Chicago Tribune Thursday. "All I can confirm is that the moving trucks are here."
The Halpin’s lease on Emanuel’s North Side home ends at the end of June. Lori Halpin said the home would [...]

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Brian J. Forgas and Lauren V. Forgas bought a four-bedroom, 2.5-bath home at 3 Danada Drive in Wheaton from Michael J. Piscoran and Susan L. Piscoran for $490,000 on May 9.
The Piscorans acquired the property in June 2008. The 3,376-square-foot house was built in 1987 in Seven Gables. It is part of the Danada Farms [...]

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CME Group Inc. is looking to sell the landmark Chicago Board of Trade building, following warnings last week that the exchange operator may leave Illinois to avoid a heavy corporate tax burden.
CME has hired Jones Lang LaSalle and Holly Duran Real Estate Partners LLC to market the historic building, which anchors Chicago’s financial district, and [...]

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Jonathan P. Crannell and his wife, Cara, bought a four-bedroom, 1.5-bath home at 341 South Julian St. in Naperville from Maureen V. Kelly and Paul A. Zillmann for $330,000 on May 19.
The 1,224-square-foot house was built in 1951 in Greater Huntington Estates.
Mr. Crannell is a lawyer with the law firm of Quinn, Meadowcroft & Marker. [...]

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Despite all of the recent reports on home prices falling, there is still hope for Chicago Real Estate!  In fact, there is some good momentum down in the ‘grass roots’ of the industry, namely the brokers and agents who continue to keep the faith and work hard for their clients.  I have been fortunate, and [...]

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Springtime is usually boom time for those looking to buy or sell a home. But in 2011, three years into the worst housing bust since the Great Depression, both buyers and sellers are sitting on their hands.
Take Nikkie Hartmann, whose Albany Park condo is now worth $80,000, 44 percent less than the $143,000 she paid [...]

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Many homeowner’s and investors in the Chicago area are disappointed by the current value of their residential property that appears to still be decreasing.  They are concerned "if and when" the price for their home will return from record lows.
Most who bought their home between 2000 and 2007, during the housing "bubble" are greatly affected [...]

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