Chicago Illinois Real Estate Blog

The market for industrial real estate in the Chicago area continues to worsen, with demand depressed and vacancy rising, as the recession has manufacturers and shippers alike moving less product.
The vacancy rate for warehouse and manufacturing space climbed for a seventh consecutive quarter, reaching 11.7% in the second quarter. That’s up from 9.4% in the [...]

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Among the lesser known of the legal arts, real estate lawyers are not considered nearly as quickly as divorce lawyers, criminal defense attorneys or even personal injury lawyers. During many instances in a person’s life, he or she may consider hiring a lawyer for a variety of reasons. Buying a home or piece of land [...]

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How does a Chicago Real Estate Auction Work?
In times of many Chicago foreclosures the ceased Chicago properties will in turn go up for auction . Each Chicago property auction has its specific qualities such as pricing accuracy and time required for preparing and conducting the auction. The number of simultaneous bidders is of critical importance. [...]

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Werner and Marileez Suter bought a condo at 1440 E. Schiller St. in the Gold Coast from Diane Pentoney and Mary Jane Goldblatt for $750,000 on April 9.
Unit #34FGH is part of the 1440 N. Lake Shore Dr. condominium development. It was built in 1966.
Mr. Suter serves as the chairman of Hotels of Switzerland.
Sales at [...]

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Lisa Hadesman and Yehia Farrug bought a 4.5-bath home at 1953 N. Maud Ave. in Lincoln Park from Christopher Odea and Lisa Gordon for $1.1 million on April 6.
Odea and Gordon paid $1.13 million for the property in Dec. 2007. The 2,446-square-foot home was built in 1991.
Hadesman is a senior account executive in the [...]

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Zaid and Mariam Alsikafi sold a three-bedroom, 2.5-bath condo at 1122 N. Dearborn St. in Near North to Dmitriy and Sara Vinarov for $735,000 on March 26.
The Alsikafis paid $667,000 for the 1,750-square-foot Unit #20J in Aug. 2004. The development at 1122 N. Dearborn St., which was built in 2000, has 104 units.
Mr. Alsikafi is [...]

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Eric D. Cohen has listed for sale a three-bedroom, two-bath condo at 635 N. Dearborn St. in Near North for $599,000.
Cohen, along with Mary B. Cohen, paid $485,000 for Unit #1505 in May 2002. There are 126 units in the 28-story building at 635 N. Dearborn St., which is also known as the Caravel. It [...]

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Lawrence M. Kern has listed for sale a two-bedroom, two-bath condo at 1422 N. Mohawk St. in Old Town for $559,000.
Kern and Marsico paid $464,500 for Unit #2 in June 2005. There are four units in the two-story building at 1422 N Mohawk St., which was constructed in 2003.
Mr. Kern is a certified public accountant [...]

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Bruce and Michele Gelman have listed for sale a four-bedroom, 4.5-bath home at 919 N. La Salle St. in Near North for $1.95 million.
The 2,932-square-foot house was built in 1890.
Mr. Gelman serves as a tax partner at Kirkland & Ellis, LLP. His practice focuses on the organizations and structuring of real estate, infrastructure, [...]

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More than 20% of American homeowners owe more on their mortgage debt than they can sell their homes for, according to an industry report released Wednesday.
The real estate Web site Zillow.com reported that 21.8% of all U.S. homes, representing more than 20 million residences, were in a "negative equity" or "underwater" position after prices dropped [...]

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