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Archive for the 'Real Estate Agents' Category

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Vernon Hills condo sales down during first quarter

Monday, June 16th, 2008

Sales of condominiums and lofts have trailed off in many neighborhoods around the greater Chicagoland region. Vernon Hills was one of several communities to see a continued drop in demand for multi-family units during the first quarter.

According to data from the Chicago Association of Realtors, a total of just 32 units were sold during the first quarter in Vernon Hills. This is the third straight year that sales have fallen in the neighborhood during the first quarter. A total of 54 units were sold a year ago during the quarter.

The drop in demand is leading to lower prices for condominiums around the neighborhood. The average sales price during the first quarter posted a 6 percent decline from the same period last year, and could continue to drop in the short term if demand doesn’t pick up in the next few months.

If you’re selling your condo or loft in the neighborhood, it will now take you an average of 116 days to find a buyer. However, this is actually an improvement from last year, when it took 133 days to sell a condo in Vernon Hills. Browse through the best properties on the Chicago Real Estate market in Vernon Hills today.

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Lincoln Park luxury at SoNo

Sunday, June 15th, 2008

SoNo is one of the most exciting new condominium developments in Lincoln Park. The two luxurious high-rise towers are located at 1454 N. Dayton.

Buyers can choose from a number of floor plans at SoNo. One, tow, and three-bedroom condominiums are available, with the smallest unit offering 788 square feet of living space. Three-bedroom units offer as much as 1,656 square feet of living space. Prices for one-bedroom units start in the upper $200s.

Residents enjoy a number of luxury amenities at SoNo. Many units come with a beautiful view of Lake Michigan and the downtown Chicago skyline from the floor-to-ceiling windows. Residents also enjoy a gourmet kitchen with stainless steel appliances, granite countertops, and 42-inch cabinets.

The development is steps from many of the best shopping and entertainment in Lincoln Park. Restaurants in the neighborhood include Vinci, Stanley’s and Hecky’s. Residents can also enjoy a night on the town at Steppenwolf.

SoNo’s developer, Smithfield Properties, has built many other luxury condominiums around the city, including Erie on the Park and Willow Court.

Browse through the best new luxury condominiums and lofts currently available on the Chicago Real Estate market today.

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Condo sales slow in Lincoln Park

Friday, June 13th, 2008

Sales of condominiums and lofts plunged during the first quarter in Lincoln Park. The neighborhood was one of the hardest hit of the largest markets in Chicago during the quarter.

According to data from the Chicago Association of Realtors, a total of just 150 condominiums and lofts were sold in Lincoln Park during the first quarter, down from 265 units sold during the same period last year. It was the worst first quarter sales total for the neighborhood since 1991.

However, despite the sharp drop in demand for condominiums in Lincoln Park, the average sales price continued to rise as buyers focused on the most expensive units in the neighborhood. The average sales price climbed 10 percent during the first quarter, but could soon start to level off if sellers continue to face an even slower turnover time.

If you’re selling your condominium in Lincoln Park, you may want to get ready for a longer wait than you expected. It now takes an average of 135 days to find a buyer in Lincoln Park, one of the slowest markets in recent memory in the neighborhood.

Buyers should look out for great deals from sellers who are facing financial pressure to sell their condominium in Lincoln Park. Browse through the best new and re-sale Chicago Real Estate in the neighborhood as well as around the rest of Chicago today.

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