Monthly ArchiveJanuary 2011

chicago-condos & Chicago Real Estate & condos for sale in chicago pcherry on 27 Jan 2011

2010 Worst Year For Chicago Condo Sales Since 2000

January 27, 2011 - The year 2010 will go down in Chicago real estate history, but not in the way most developers or anyone who was trying to sell a home would care to remember. According to the latest Illinois Association of Realtors report as detailed in the Tribune, sales of existing Chicago area single-family homes and Chicago condos droped 0.5% from 2009 levels. There were 69,010 units sold, which is the lowest amount since the IAR started recording data in 2000.

If we look at just December 2010 sales for Chicago area homes, the free-fall is even steeper. There were 5,204 homes sold in the Chicago area last month and that is a 9.9% decrease from December of 2009 when 5,779 units were sold. The median price of Chicago homes sold in the area during December 2010 was $167,850, which is down from the median price of $182,000 for December 2009.

For Chicago condos that sold within city limits, the drop wasn’t as bad. Chicago condo sales for 2010 were down 2.5% with a total yearly volume of 11,051 condos. The median price for 2010 was $267,900, which is a 4.3% drop from the median price of 2009.

We’ll have to wait and see if buyers make 2011 another slow year for Chicago homes for sale.

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chicago-condos & Chicago Real Estate pcherry on 26 Jan 2011

Few Studio Apartments Left For Rent At Aqua

January 26, 2011 - It hasn’t been too long ago that we told you about Chicago real estate developer Magellan finally finding a buyer for the 474 apartments at Aqua. As evidenced by all of the recent news about rental towers going up and developers landing financing for them, Crain’s is reporting that J.P. Morgan is financing the apartment purchase with a $105 million laon from New York Life Insurance Company.

J.P. Morgan will have a majority interest in the apartments, retail space and parking garage, nut Magellan will keep a small piece of the pie. The entire deal went for $182 million, and this new loan is for 7 years with an interest rate of less than 4.3%, according to the article.

There are only a few apartments left for rent at Aqua. Some of the studio units available from Magellan are listed below.

Floorplan Studio 05
0 Bedroom /1 Bath
Unit #3905 / 571 Sq Ft / Price $1,581 / Available 03/07/2011

Floorplan Studio 06
0 Bedroom /1 Bath
Unit # 2106 / 584 Sq Ft / Price $1,574 / Available Now
Unit #5106 / 584 Sq Ft / Price $1,690 / Available Now

You can find out more information about other Chicago apartments for rent by following the link.

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chicago-condos & Chicago Real Estate pcherry on 25 Jan 2011

The Spa At Trump Wants To Relax You

January 25, 2011 - If you’ve been wanting to tour the new models at Trump Tower Chicago and haven’t had a chance, you may want to schedule a spa treatment and viewing at the same time. Right now the Spa at Trump is advertising some special deals and pricing for spring and Valentine’s Day.

The Begin the Year in Balance: a Hotel Package with Purpose includes an overnight stay plus spa treatment designed to re-energize and stimulate. You get an overnight stay in one of the hotel rooms, a Balancing Diamonds Massage and a Trump Results Facial. This promotion is good through March 31st, 2011 and the rates start at $499.

The Put your Best Face Forward promotions also runs through March 31st and includes the Ultimate Kate Facial, designed by health expert Kate Somervile. If you book and pre-pay for six facials you’ll receive a 20% discount.

The Be my (Balanced) Valentine promotion runs through February 28th, 2011 and includes a Trump Gold Massage for two. You’ll get a 90 minute Shiffa Massage with Germaine Gold Oil and a treat of Trump gourmet chocolates. Rates start at $250.

And if purchasing a condo at Trump Tower isn’t in your budget at the moment, go have a massage to relax and then tour some of the luxury Chicago condos that are available for rent.

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