Monthly ArchiveJanuary 2010



chicago-condos & Chicago Real Estate pcherry on 23 Jan 2010

Prices Drop At Park Boulevard

January 23, 2010 - If you’ve ever been interested in a condo at Park Boulevard, then now may be the time to think about making a purchase. This Chicago real estate development in Bronzeville has dramatically cut prices on several of the units there.

The price reductions are on eight of the residences, which are a mix of Chicago condos and townhomes. The homes have been reduced by around 15% to 37%, which adds up to about $57,000 to $186,000 off the old list prices at Park Boulevard.

The condos have around 1,456 to 1,502 square feet and three bedrooms. Those units are now priced from the $190,000s to $290,000s. For the 1,636 to 2,469 square foot townhomes with two to four bedrooms you can now expect to pay from the $310,000s to $390,000s.

Interior finishes on these residences include the standard GE stainless steel kitchen appliance package, double bowl stainless steel sink, 3/4″ granite counter tops and custom maple wood cabinets. The baths come with 3/4″ marble counter tops, recessed medicine cabinet, large wall mirror, designer lighting, 13″ ceramic tile and surround plus a large 5′ soaker tub.

With these new price cuts, you may want to pay a visit to Paark Boulevard. You can also compare them to the other
Condos In Chicago that have recently lowered their prices as well.

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chicago-condos & Chicago Real Estate pcherry on 22 Jan 2010

Chicago Home Sales Up In December

January 22, 2010 - The latest report from the Illinois Association of Realtors states that in the Chicago area, year over year homes sales were up 33.1% in December ‘09 compared to December ‘08. There were 5,752 Chicago condos and single-family homes sold in December 2009 compared to 4,320 homes sold in December 2008. However, the median home sale price was down 10.4% from a high in December ‘08 of $204,200.

The report also showed that Chicago area home sales were down about -0.2% for the year. There were 69,290 homes that sold in 2009, down from 69,406 in 2008. The median Chicago area home sale price was also down about 18.3% in 2009. It went from a median price of $240,000 in 2008 to $196,000 in 2009.

But for in town Chicago, sales of condos and single-family homes in December climbed 39.8% for a total of 1,768 sales for the month. In December of 2008 the total sales of Chicago condos and single-family homes was 1,265 units. But the median price for in town Chicago condo and single-family home sales was down 10.6% to $210,000 per unit. In December of 2008 the median sale price for condos and homes in town Chicago was $235,000.

In total for the year of 2009 there were 19,401 Chicago condos and single-family homes sold, which is a 7.4% drop from the 20,946 sold in 2008. The average yearly median price for 2009 was $225,000, which is a 22.4% drop from the 2008 average of $290,000.

A couple of bright spots in Chicago real estate are that the report found there was almost a 40% increase in homes sales for Chicago during December 2009. In all, sales of condos and single-family homes in Illinois during December ‘09 saw in increase in 50 of 99 counties, and 50% of those also had increases in median prices.

We can hope that 2010 is a better year for Chicago homes for sale.

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chicago-condos & Chicago Real Estate pcherry on 21 Jan 2010

Price Reductions At Union Row

January 21, 2010 - If none of the condos at 565 Quincy strike your fancy even though prices have been recently lowered, Belgravia Group has another Chicago real estate development you might be interested in instead. The townhomes at Union Row in East Pilson now have new lower prices as well.

Union Row’s website banner warns buyers to not let this be their, “Woulda, Coulda, Shoulda.” The new prices reflect roughly a 30% reduction from the old list prices, so you may be able to save a significant amount if you’re in the market for a townhome.

The Union Row townhomes all have an attached two car garage and either three or four bedrooms, depending on the model you pick. The interiors are pretty posh, with a skylight, oak hardwood floors, GE stainless steel appliance package, Kohler fixtures, either an island or breakfast bar in the kitchen, double sink, 42″ cabinets, porcelain tile in the baths, recessed medicine cabinet and built-in security system.

You can now get a 3 bedroom, 2.5 bath residence for $374,900. They had been priced at $535,000. The 4 bedroom, 4 bath townhomes have been lowered to $499,900 from their old price of $699,900.

Taking a closer look, the range for the 3 bedroom, 2.5 bath homes is now the $370,000s to $390,000s. Old prices ran from the $530,000s to $570,000s. These townhomes have from 2,288 to 2,366 square feet. The models that measure up at 2,460 square feet are now listed in the $420,000s, down from the $580,000s to $610,000s.

If you want one of the larger 4 bedroom, 3 bath homes with 2,728 square feet you can expect to pay from the $510,000s.

The 4 bedroom, 4 bath townhomes that size up at 2,901 square feet were priced in the $680,000s to $710,000s but are now listed from the $490,000s.

Union Row may be a good place to start if you are hitting the sales centers this weekend for Townhomes In Chicago

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