Chicago Real Estate News & Neighborhood Notes

Yesterday we highlighted some of the key differences between two of Chicago's most luxurious new construction developments, 4 E. Elm and 100 W. Huron. While there's no doubt each location is extremely desirable, there's a few key distinctions that make each building unique. Unlike 4 E. Elm in Chicago's Gold Coast, 100 W. Huron will offer a 2-bedroom + den floor plan, which puts the entry level price significantly lower than what buyers will find over at the similarly luxurious building at 4 E. Elm.

If you take a look at what's currently listed on the MLS® over at 100 W. Huron, 2 bedroom, 2.5 bathroom units are starting around the $940,000—a far cry from the lowest priced unit at 4 E. Elm currently on the MLS®, which is set at $2,250,000. If you're in

Sales for two of Chicago's hottest new condo developments have begun, meaning opportunities to own a unit in 4 E. Elm and 100 W. Huron will surely start to diminish with each passing month. Although it may seem like just yesterday that plans were first announced for these ultra-luxurious boutique buildings, high-end condos for sale in Chicago are moving faster than ever, leaving little time to hesitate should you be in the market for a new place to live.  

Design-wise, there are certainly plenty of similarities between 100 W. Huron and 4 E. Elm, as both feature a striking and modern glass exterior that seems to be the norm for today's new construction condo developments around Chicago. Additionally, each building is being specifically marketed to the

Buying a home is both a major commitment and a significant long-term financial investment, so it goes without saying that the home buying process can be complex, and at times, quite exhausting. With that in mind, it's important to take your time during your home search, and always plan ahead, regardless of how long it might be before you decide to finally take that step towards home ownership.  

If you're like most home buyers, you'll probably need to finance your new home or condo, which means having a pretty significant amount of money up front will almost certainly be required. Depending on your credit and financing options, you'll likely need to have anywhere from 3.5 percent to 20 percent down, and if you're using FHA financing, then you'll also

We all know that most of today's home buyers start their search online, and with all the information and facts relating to the market easily accessible on the web, it's certainly easy to see why. In fact, it's not terribly uncommon for some people to start casually browsing active listings online out of sheer boredom, and before they know it, they've already started their quest to find the perfect new home without even really realizing it.  

With so much information at your fingertips, and the growing popularity of mobile devices, tablets, and various other ways to surf the 'net wherever you happen to be, its extremely easy to lose focus of what you're trying to accomplish during your search, and unless you have a well-thought out plan and a strategy

With all the hype surrounding some of Chicago's newest apartment developments, it's important for luxury home seekers to keep in mind one of the Windy City's most exclusive and distinguished buildings when looking for a new condo or apartment for rent: Trump Tower Chicago.  

Completed back in 2009, Trump Tower many not have the new construction label attached to it anymore, but it's hard to argue any rental building in Chicago, new construction or otherwise, can match what this iconic high rise has to offer.

The amenities package at buildings like 111 W. Wacker, 500 N. Lake Shore, and 845 N. State is certainly among the biggest draw when it comes to choosing a new place to live. Nowadays, every new high-rise development in Chicago offers indoor

The home buying process can be a lengthy endeavor that can take weeks, sometimes even months. So now that you've spent countless hours researching different neighborhoods and viewing dozens of different properties online and in person, just what do you do once you've found that perfect new place to call home?

Well, along with all that time you've spent finding the right home, hopefully you've also made a significant effort in finding a smart and efficient real estate agent who knows the secrets and science behind the art of bidding and negotiating.  

Regardless of what the list price is of your dream home or condo in Chicago, your opening bid should always be based on two factors: what you can afford, and what you truly believe the property is worth.

Back in February, chatter about the defunct Chicago Spire project was starting to pick up again, with perhaps a resurrection plan possibly in the works. Initial reports claimed new investors were interested in the project and considering the idea of relieving it from bankruptcy and breathing some life back into this long-stalled, highly-publicized development.  

However, after nearly 9 more months of waiting, it seems The Chicago Spire project is now dead again, and this time for good. According to a report from Curbed, Spire developers were unable to make a $22 million payment by last week's deadline, pretty much sealing the fate of what would have been the tallest building in the Western Hemisphere.  

But in an interesting twist, those same

If you've ever been in the market for a used car, some of the first things that usually come to mind during a search are what kind of condition a car may be in, how well it runs, and what kind of potential problems could arise should you decide to make the purchase. In some cases, you might even look under the hood to do a quick once-over, or take it to a mechanic to do a full-blown inspection.  

Well, given most homes are a much larger financial commitment than any car or truck you'll buy, it's always a good idea to do the same kind of thorough inspection prior to making an offer, even if it's an out-of-pocket cost to you—the buyer.  

Of course during any home buying process, there's always an inspection period that acts as a systematic evaluation

It goes without saying that the primary objective when buying a home or condo is to find something you like, in addition to finding something that fits all your needs and wants. Location, exterior features, interior finishes, and lifestyle amenities will undoubtedly all play a role in what might put a home over the edge or what might take a home out of contention, but during any home search, it's always important for a buyer to take as much emotion out of the final decision as possible.  

Making a savvy home purchase is all about finding that perfect balance between choosing a home you love and choosing a home that’s also a good short- or long-term investment. Even the homes that seemingly check off all the boxes on your wish list can have hidden red

Of course buying a home is one of the biggest financial commitments you'll ever have to make, and deciding which home or condo in downtown Chicago is right for you is no small decision. As seasoned home buyers already know, there's much more to home ownership than just the mortgage payment, so paying close attention to additional expenses, often called "sleeper costs," is a vital detail in what's sometimes a very complex home buying process, especially if you're a first time home buyer.

Over the past 12-18 months, downtown Chicago's rental market has been red hot, but if you're considering trading in that chic downtown apartment for a brand new home or condo of your very own, it's important to prepare yourself now for those pesky little expenditures