Archive for July, 2012

Buying Chicago Real Estate? You Can’t Afford To Wait On Rates!

July 23, 2012

At a recent lecture at the New York University Club, millionaire hedge fund operator John Paulson, who is often touted as an investment genius, enthusiastically urged members of his audience to buy real estate–now! Echoing the September Forbes report, Paulson stated that “this is the best time in 50 years to buy a home,” and he maintained that securing a 30 year mortgage with record low interest rates is a wise and safe investment.

While there are those in the real estate field who disagree with Paulson’s views, there is an increasing number of factors which supports his advice, among them reduced home prices, increased negotiating power, and very low interest rates.

These interest rate charts provide confirmation of Paulson’s claim and food for thought for anyone wondering if now is a good time to get off the fence regarding a home purchase or refinance.

Inventory levels are shrinking in Chicago, causing many multiple offers since many sellers are renting properties instead of selling in the hopes of recapturing “lost” equity by waiting a few years and capitalizing on the rapidly appreciating rental market which has risen, in some areas, up to 20% in the last year.

So, is now the time to buy Chicago real estate? For many the answer is a resounding “Yes”! Before inventory levels shrink even more and prices increase.


Karen Breen Elia & Louis M. Elia, REALTORS®, are brokers for homes, condos, and multi-unit properties on Chicago’s North Side.

ChicagoCityHomes, RE/MAX Exclusive Properties
2951 North Lincoln Avenue  
Chicago IL 60657
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Chicago City Home For Sale:1922 N Nordica Avenue Chicago, IL 60707

July 12, 2012

Chicago City Home For Sale:

1922 N Nordica Avenue Chicago, IL 60707


Suburban living in the city! Huge rooms, huge lot, huge value. This super brick English Tudor in lovely Galewood has been in the same family for over 60 years. Enter up the new poured concrete front steps and porch into a huge, bay windowed living room through to the separate formal dining room. The kitchen adjoins a separate breakfast room. Two bedrooms and a full ceramic tile bath complete the first floor. On the second floor there are two huge bedrooms and a full ceramic bath. The master bedroom has a large walk in closet and huge walk out deck. The second bedroom has built-in drawers plus closet plus a large hall closet. Both floors have hardwood throughout. A full basement has a new flood control system with battery backup, new furnace and hot water heater and the roof is newer as well. This charming home rests on a 30’ x 227’ lot and there is a two car brick garage and patio. Walk to Metra train, buses, shopping, Starbucks and yoga. Treat yourself to this charming, super spacious home!

Chicago Condo For Sale: 630 N State Parkway #2409, Chicago, IL 60654

July 11, 2012

Chicago Condo For Sale:

630 N State Parkway #2409, Chicago, IL 60654


River North at your door – Chicago skyline at your window!  Awesome River North location puts all restaurants, shopping, lake front, entertainment and transportation just steps away plus a great western skyline view floods your new home with light.  This spacious one bedroom has a lovely cherry, granite and stainless steel kitchen with large breakfast bar and in unit laundry.  The large living room opens to a big balcony with room for a grill and seating.  The bedroom with western exposure has double closets and leads to the bath.  Deeded garage parking is available for $35,000.  The building features 24 hour doorman, on- site manager and engineer, exercise room, storage, community room, valet/cleaners and receiving room.  Heat, air conditioning and basic cable are included in the monthly HOA as well as water, common insurance, scavenger, cooking gas, interior and exterior maintenance and snow removal.  This is a pet friendly building, so hurry on over and check out this lovely home!