Chicago Condo Directory

A group of brokers has moved from Koenig & Strey GMAC Real Estate to the company’s rival Jameson Realty.  The companies are two of the biggest realtors in the Chicago region, responsible for marketing some of the most important projects currently underway.

The deal was part of a move by the founders of Jameson Realty, Harry and Charles Huzenis, to sell their share of  Jameson Realty Group.  The brothers currently own a stake in Jameson Real Estate LLC, and will move into their new role as directors of the firm.

Also joining the new company are two of the most successful members of Koenig’s Lincoln Park office, Christopher Feurer and Michael Sato.  How many of their team members joining them in the new company remains unknown.  Christopher Feurer is currently president of CRF Marketing.

The Chicago condo market continues to be plagued by fewer sales around the city.  Overall sales of new and re-sale condominiums and lofts were down by about 30 percent during the second quarter.   A total of just 4,621 Chicago Condos were sold during the quarter, the lowest sales seen since 2001.

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Sales of condominiums plunged to their lowest level in 11 years in Lombard during the first quarter.  The neighborhood saw a 50 percent decline in demand for new and re-sale units in just one year.

According to data from the Chicago Association of Realtors, a total of 26 units were sold in the neighborhood during the first quarter, down from 52 units sold during the same period last year.  The high for the first quarter was seen just two years ago, when 68 units were sold during the first quarter.

Buyers, however, may have stayed away as a result of the high prices in the area.  The average sales price climbed by 13 percent despite the drop in sales.  Prices were higher even though the number of unsold condos on the market continued to increase during the first quarter.

Condo owners and developers are facing one of the slowest markets in recent memory in Lombard.  The average turnover time for condos currently on the market is now at 135 days, up from 101 days a year ago.  Historically, average turnover times have ranged from 30 to 50 days in the neighborhood.  If you’re looking for a great deal on Chicago Condos, you could start to see some low prices in Lombard.

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Lakeview continues to attract young professionals and students looking for affordable real estate north of downtown Chicago.  The area is home to some of the best new developments as well as several older buildings offering a great deal on units.

One development that has several condominiums for sale is located at 2800 N Orchard.  This low-rise building offers a total of 58 studio and one-bedroom condominiums.  The most affordable condominium currently on the market is a studio unit located on the third floor.  This unit has been reduced in price from $164,900 to $154,900.  Buyers can also take advantage of a one-bedroom unit that is priced at $269,000.

Amenities at 2800 N Orchard depend on the unit, but many of the condominiums on the market come with modern touches.  These include granite countertops, stainless steel appliances, and a breakfast bar in the kitchen.  Residents also enjoy plush carpets in the bedroom and hardwood floors throughout the rest of the unit.

The development offers all residents a sundeck, laundry room, and plenty of storage space.  You’ll love the convenience of the attached heated parking garage.  Don’t miss out on these Affordable Chicago Condos at 2800 N Orchard.

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