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With more than one in 10 houses in Chicago vacant, and experts expecting the foreclosure crisis to continue to grow, nonprofits
and the city are renting out more of those properties and offering incentives for those willing to buy.  Neighborhood
Housing Services, a 35-year-old Chicago non-profit, this year will lend $18 million for single-family home purchases and
re-financings of one- to four-unit buildings. The non-profit also is expanding its lending focus to help local residents and/or
investors buy vacant foreclosed properties and rent them out, said Ed Jacob, executive director of the Neighborhood Housing
Services.  “This will be a new …

In today’s Real Estate Market many buyers are taking advantage of builders who purchased land and started to develop property right before the bubble burst. Purchasers in Chicago and the Suburbs are finding spec homes and condos under the price of what it costs the builders to actually build today. In the height of the McMansion boom, builders where running wild, buying tear-downs, and speculating on the Real Estate Market.  Now these builders are working with their banks to move the houses or just walking away from the projects. Some house …

By: Eli Schultz
The West Loop real estate investment community welcomed the newest green addition to the Chicago neighborhood with the long-anticipated Adams & Sangamon Park finally opening on August 19th, 2010.  Mayor Richard Daily and alderman Bob Fioretti came out to inaugurate the park’s completion, hailing it as a great achievement by the area’s committed and organized community.  After seven years of planning and renovation, the park now touts a varied assortment of post-modern outdoor recreational amenities, including an elaborate dog zone, a walkthrough misting sculpture, and a brand new …

By: Luke Bujarski
Chicago’s green real estate investment market may have taken another step forward this month. Coordinated by the Chicago Metropolitan Agency for Planning (CMAP), the Better Buildings Initiative aims to create jobs and save people money on their energy bills by strengthening the market for energy efficient properties. The goal of the program is to leverage over 500 million dollars of public and private funds to retrofit over 8,000 residential, commercial, and industrial properties over the next three years.
A building “retrofit” refers to the various steps a property owner …

By: Eli Schultz
Wicker Park property boasts a diverse stock of building styles and price ranges.  The broad variety of condominiums in the area range from rehabbed and vintage lofts, classic walk-ups, and new construction mid-rises and three-flats.  The selection of single-family homes also ranges from up-scale new construction hitting the multi-million dollar mark, to older cottages that are often targets for tear-downs and gut-rehabs.  The Wicker Park neighborhood also Chicago Real Estate Chicago Real Estate Features an assortment of 19th century mansions with hefty price tags but sought after for their charm and intricate …

By: Eli Schultz
The Bucktown neighborhood is located 3.5 miles northwest of the loop, bordering Wicker Park, Lincoln Park, and Logan Square.  Bucktown property for sale is primarily of residential stock with a mix of single-family homes and converted lofts.  On average,  a one-bedroom in a multi-unit building is priced around $270,000 and $375,000 for a two-bedroom unit.  Larger rehabbed spaces that have been upgrades with finer amenities have been listed for as much as $900,000.  Three bed-room single-family homes typically run at around $650,000 while larger, higher-end units  in the …

By: Eli Schultz
Today, the West Loop is among Chicago’s most desirable neighborhoods for well-to-do young urban professionals, given its proximity and access to the Loop. West Loop real estate for sale runs at an average sales price of around $310,000, with many new and rehabbed units available along Madison Street and Washington Blvd. The median sale price for a one-bedroom condo is around $267,000.  Prices for a two-bedroom unit average at around $370,000.  Detached single-family homes in the West Loop Real Estate market are far more expensive reaching on average $850,000 …

 
By: Eli Schultz
The Ukrainian Village is part of Chicago’s West Town Community Area and sits conveniently along Chicago Avenue on the West side of the loop.  Many visitors often comment positively on this neighborhood’s quaint European look and feel. As the name suggests, this area was settled by Ukrainian peoples beginning in the 19th centuries and was later settled by Polish and German families.  These shady, flowery streets offer a communal atmosphere where neighbors often enjoy each other’s company in small groups in back terraces and front porches.
The Ukrainian Village …

By: Eli Schultz
As a cultural center for Chicago’s Hispanic population, the Pilsen neighborhood has undergone considerable change in recent years. Among the most significant forces for change has been the local alderman who has worked to establish the neighborhood as a historic district to provide tax breaks to Pilsen homeowners.
Likewise, Pilsen has seen considerable activity in the way of rehabs and new construction of condos and multi-units which has increased the attractiveness of the area to investors.  Renovated and newly constructed condos tend to be more expensive than neighboring single …

By: Eli Schultz
The South Loop has been recognized as one of Chicago’s most up-and-coming and globally unique neighborhoods. The area has done particularly well in tune with overall changes in lifestyle preference, as more and more people look to live closer to their place of work. Located just south of Chicago’s downtown business core, the South Loop has much to offer in the way of properties and modern housing.
As Chicago’s fastest expanding neighborhood, living costs in the South Loop are high but reasonable compared to other high-end parts of the …