How to Secure a Downtown Chicago Apartment

The Chicago rental market is HOT! By now, this isn’t news to most people working in the real estate business or who have already moved in the last year or two. But if you’re just now facing the dreaded dilemma of having to search for a new apartment in downtown Chicago, it’s vital to be as prepared as possible if you want any chance at all in securing your first or second choice home.

I know you’re probably thinking that I’m just exaggerating and only say this because I want a fast and smooth transaction, but the reality when it comes to today’s rental market in Chicago is that you only have a VERY small window of  opportunity before an apartment with hardwood floors, outdoor space, and

CTA Releases New Train Tracker Amenities

The CTA is continuing to make progress towards bettering Chicago’s grossly outdated “L” system as it recently unveiled a couple new tech-savvy options riders can access in order to track where a train is located and how long it will take before arriving at your station. Unfortunately, many of us still haven’t experienced the new, highly publicized rail cars that were part of a massive $1 billion order of 706 cars. Unknown safety concerns have been the culprit behind this unexpected setback, but I can obviously understand why these issues weren’t addressed before coughing up the one billion dollars. I mean that kind of money MUST be like pocket change to a high-end outfit such as the Chicago

Nicholas Colagiovanni Achieves a Career Milestone!!

Recently, a colleague of mine, Nicholas Colagiovanni, was named part of the Top 1000 real estate professionals in the United States for 2011. The honor recognizes individual real estate agents based on their total amount of closed transaction volume from the year prior and is a milestone that Nicholas and our entire team should be proud of. I partnered with Nicholas on numerous occasions and there’s no doubt that each experience he went above and beyond even my highest expectations. Throughout his career, he’s always worked well with other agents in our business and in my case, has really taught me a lot about how to further advance myself in such a high-paced, fast moving environment here in

659 W. Randolph: A Sleek, Modern Vibe in the West Loop

The condos at 659 W. Randolph are modern, sleek and perhaps even offer residents with some of the best city views Chicago’s West Loop can provide. The location of 659 W. Randolph, or R+D659 as it’s sometimes referred to, is just east of the 90/94 expressway, giving these condos spectacular, unobstructed views of Chicago’s Loop to the east and the majority of the West Loop from its opposite side.  659 W. Randolph #1405 in particular demonstrates these awesome city views perfectly, overlooking the Randolph and Des Plaines Street intersection and just catching a glimpse of the mesmerizing Trump Tower-Chicago off in the distance. But along with the exceptional views, the private balcony offers

Grant Park the Place to be in Downtown Chicago this Labor Day 

The 33rd Annual Chicago Jazz Festival kicks off today in Grant Park, Millennium Park and the Cultural Center, located in the Chicago’s Loop. Labeled as the longest running big lakefront music fests in Chicago, the Jazz Festival 2011 will include 49 sets-including Randy Weston, Bobby Watson, and Cassandra Wilson-all within a four day span. Randy Weston will be performing today at the beautiful Jay Pritzker Pavilion, with Friday’s performances by Saxophone Summit moving right next door to Millennium Park. Look for the main events at this year’s Jazz Fest to swing on over to its original home at Grant Park and take place all throughout the day on Saturday and Sunday. So if you’re

400 E. Ohio Offers More Space, Great Amenities at Lower Cost

While many condo buyers in Chicago want new construction and all the latest and greatest updates, many other Gold Coast and Streeterville properties offer more space at a tremendous value, only in an older, more classic Chicago high-rise. Take 400 E. Ohio in the Streeterville neighborhood of downtown Chicago, for example. This 181-unit skyscraper was originally built in 1982, and though it may be a bit old, 400 E. Ohio still offers many of the same great amenities as other newer, more expensive Streeterville real estate just down the block. When searching for the right condo or loft in Chicago, isn’t much of the priority about location, location, location? Well, 400 E. Ohio offers

Chicago Real Estate Website Offers Easy Search Features

Buying, selling or renting real estate in Chicago can be a very complex and time-consuming process. When homebuyers are in the market for a downtown Chicago condo or rental property, eliminating as much confusion as possible can be crucial in securing a new home. The Chicago rental market is perhaps the hottest we’ve ever seen, so moving quickly and efficiently will especially work to a buyer or renter’s advantage. But what if the real estate websites you’re visiting are hard to navigate or simply not providing you with the necessary information for you to determine what Gold Coast condo or Streeterville rental is right for you? Knowing exactly what Chicago realty websites to visit and how

South Loop Condos Staring at Foreclosure

Recent reports from ChicagoRealEstateDaily.com confirm that two South Loop condo developments are facing foreclosure lawsuits after the developer, Sedgwick Properties Development Corp., first started defaulting on construction loan payments back in July 2010. The first of the Sedgwick properties, 180-unit Terrazio at 1935 S. Wabash, was originally planned strictly as a fee-simple building, but has since been leasing the remaining condos out in order to generate at least some operating income in the midst of the on-going housing crunch. In a separate lawsuit against Sedgwick, Amalgamated Bank of Chicago is seeking to recover what is still owed on a $60 million construction loan issued in 2005 for the 25-story

Chicago Rental Market Better Than Ever

The downtown Chicago rental market may be the best it’s ever been. At the beginning of the recession, now four years ago, rentals hit an all-time high in many Chicago neighborhoods. But now that the condo market is still struggling, real estate experts feel the Chicago apartment sector may become even stronger. According to a new Appraisal Research Counselors report, the average Class A (high-end) occupancy rate jumped to 95.6% in the second quarter of 2011; up from 93.9% in the first quarter. Landlords also felt the strong demand for high-end apartments in downtown Chicago as the average net-rent for a Class A building reached $2.43 a square foot in the second quarter this year-a figure that is up 6.1% from

A Tip for Chicago Renters

Given the current economic conditions within the Chicago real estate market, it seems that sellers are awaiting the “perfect bait” when the topics of either leasing or selling a property are concerned.  However, what comprises “perfect bait” status and what can a prospective renter do to make sure a seller will budge?  Perhaps this boils down to only a few requirements: the renter must have good credit, readily available funds, and the ability to move in without asking for the walls to be painted.

I have observed that if the renter is not ready to pull the trigger, then he/she should not even consider looking for a property!  For example, a client of mine was ready and able to move into a junior 1-bdrm.