Monthly ArchiveOctober 2010

chicago-condos & Chicago Real Estate pcherry on 05 Oct 2010

Gold LEED For Parc Huron

October 5, 2010 - The latest Chicago real estate development to be given a Gold LEED certification by the U.S. Green Building Council is also the first rental tower to be Gold certified and that is the Parc Huron. According to a recent article in the Tribune, the luxury rental high-rise, located on 469 West Huron Street in River North, has met numerous requirements for the top rating.

During the construction of the Parc Huron, builders used more locally sold and manufactured materials plus used more recycled and low VOC materials. The tower also has a higher quality than usual indoor air purification system and more efficient electrical and water usage. There is a 14,000 resident park, extensive use of natural sunlight with large windows and a green rooftop.

The rental apartments have one to three bedrooms. The one bedroom units size up from 614 to 729 square feet, according to the article. One bedroom with a den measure 780 to 871 square feet. The two bedroom units have from 1,100 to 1,350 square feet and the three bedroom apartments measure 1,375 to 1,443 square feet. Monthly rental rates vary from about$1,842 to $4,057. Garage parking is on level 2 to 4.

Finishes include hardwood flooring, stainless steel appliances, granite counter tops, separate tub and shower and 9.5 to 10.5 ceilings. Some of the apartments also come with a walk-in closet in the master bedroom, laundry, double bowl vanity, built-in work station and each unit has a balcony.

Resident building perks include a 24 hour doorman, the 14,000 square foot park, theater with seating for a dozen, wine storage room, fitness center, steam room, spa and hot tub, meditation area, business meeting room, media lounge, cyber cafe and outdoor lounge with fireplace and seating.

If you can’t find what you want at the Parc Huron, there are quite a few Chicago condos for rent right now, and some have lease-to-own options.

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chicago-condos & Chicago Real Estate & downtown chicago condos pcherry on 04 Oct 2010

Developer Closeout Still Going At Library Tower

October 4, 2010 - Chicago real estate developer Lennar Homes is still advertising closeout pricing at Library Tower. The 18 story South Loop high-rise is located on 520 South State Street and there is still just a single one bedroom, one bath condo left for sale from the developer, according to a recent press release in the Sun Times. There are also a couple of two bedroom, two bath Chicago condos for sale in this building, so interested buyers have a bit of a small selection to pick from right now.

The one bedroom condos at Library Tower have been priced from $259,990. For the two bedroom units you’ll pay from $319,990. The few remaining unsold three bedroom condos are listed from $479,990. The condos in the high-rise range in size from 1,080 to 2,030 square feet. Library Tower is also FHA approved, so buyers who qualify can lock in a low 3.5% down payment, according to the article.

Unit finishes include stainless steel appliances, hardwood flooring, carpeted bedrooms, large windows, grainte counter tops and stone tiled baths. The building has a 24 hour doorman, bike storage, fitness center, business center, movie room, party room, rooftop sun deck and a landscaped park.

The sales center and models are open on weekdays and Saturday from 10am to 6pm and on Sundays from 12pm to 6pm.

The condos in this tower have a lot of loft-like design features, and if you’d like to see more Chicago lofts then just follow the link to our development pages.

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chicago-condos & Chicago Real Estate & Chicago Homes pcherry on 01 Oct 2010

Sales Of Chicago Condos And Homes Drop 22.9% In August

October 1, 2010 - It always takes some time for the Illinois Association of Realtors to crunch the numbers on Chicago real estate sales trends, but the data for August is now available. According to the IAR report as published in a Crain’s article, there were 5,633 Chicago condos and single-family homes sold in August of this year (2010). That is a 19.6% drop from the 7,008 condos and Chicago homes that were sold during August of last year (2009). But on the bright side, it is a 1.3% increase from July 2010. And there has been a 15.8% increase in total unit sales from January 2010 through August 2010 over the same eight month span last year (2009).

Sales of Chicago condos and single-family homes in-town Chicago actually dropped 22.9% in month-to-month comparison of August 2010 and August 2009. In August 2009 there were 1,927 condos and homes sold while August 2010 only posted 1,486 sales in-town. The median price also took a hit this August, falling 13% to $200,000 as compared to the median price of $229,900 last August.

However, total sales of condos and single-family homes in-town Chicago from January 2010 through August 2010 rose 17.2% compared to total sales during those same eight months last year (2009). There were 11,842 units sold during that period in 2009 while there have been 13,883 units sold during the same period this year (2010).

Illinois Association of Realtors president Mike Onorato was quoted in Crain’s as saying that,
“Pricing remains the number one issue for sellers. To sell quickly the price must be competitive relative to homes for sale in the area and this becomes even more of a challenge in markets where foreclosures and short sales dominate.”

Low pricing on condos in Chicago is always good news for buyers, although sellers may opt to wait and see if prices rebound in the spring.

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