Chicago Condo Directory

While sales of condos were down across the city of Chicago, Garfield Ridge saw sales climb slightly in 2007.   According to data from the Chicago Association of Realtors, a total of 22 condos were sold in the neighborhood in 2007, up from 21 units sold in the previous year.

Sales in Chicago were down by more than 10 percent in 2007.  A total of 20,690 units were sold citywide, down from 23,101 units sold in 2006.

As demand remains strong in the neighborhood, sellers are seeing lower average turnover times for their condos.  After breaking through the 100-day barrier in 2006, the average turnover time retreated to 96 days in the neighborhood.

The strong numbers for the market helped prices jump in the area.  The average sales price for condos and lofts sold in Garfield Ridge during the year was up by 12 percent over the previous year.

If demand remains strong in the neighborhood, buyers could continue to see prices rise.  Take advantage of great deals on Chicago Condos For Sale in Garfield Ridge today.  Also, browse through the best preconstruction condominiums on the market in neighborhoods around the city.

Technorati Tags: Chicago Condos For Sale, Garfield Ridge Condominiums, Chicago Real Estate 

Two office towers on Wacker Drive will soon go up for sale, in yet another test of the strength of the commercial real estate market in downtown Chicago.

The towers, located at 100 and 150 S. Wacker Drive are valued at over $250 million.  However, several major deals around the city have already fallen through as banks and lenders tighten requirements for even the largest deals.

The properties are owned by Marvin Herb and Lincoln Property Co., a Dallas-based real estate investment firm.  The buildings offer a total of more than 1.1 million square feet of space, and are currently more than 90 percent leased.

A credit crunch brought about by a sudden increase in foreclosures has led many banks and lenders to shy away from deals around Chicago.  Concerns about a bleak economic forecast has cast a shadow over office properties in major cities around the country.  However, the downtown Chicago business district has enjoyed strong growth in recent years.

However, the Chicago real estate market also hides several deals for buyers who are able to qualify for a new mortgage.  Prices for condos, lofts, and single-family homes are starting to pull back in several neighborhoods around Chicago.  Find great deals on Chicago Condos For Sale today.

Technorati Tags: Chicago Condos For Sale, Chicago Real Estate, Chicago Office Market

Sales of condominiums and lofts in Mount Greenwood rose sharply in 2007.  According to data from the Chicago Association of Realtors, a total of 25 units were sold during the year.

This is a 250 percent increase in sales from 2006, and the highest total sales seen in the neighborhood since 1999.  It is the second highest annual total sales seen in the last 16 years.  While sales were up around the neighborhood, so was the inventory of condos and lofts on the market.

The average turnover time more than tripled in 2007.  It took an average of 69 days for condo owners and developers to find a buyer during the year, up from just 20 days in 2006.  This is still a relatively quick average turnover time when compared to the rest of the city.  The average for all of Chicago was 109 days in 2007.

Prices were also up slightly for condos in Mount Greenwood.  The average sales price of condos sold in 2007 rose by 2 percent from the previous year.  With strong demand and a relatively streamlined market, prices for Chicago Condos For Sale could continue to rise in the short term in the neighborhood.

Technorati Tags: Mount Greenwood Condos For Sale, Chicago Condos, Chicago Real Estate Market