Chicago Real Estate and Community News

Check out real estate market trends, lifestyle news and neighborhood information.

July 16, 2020

Buying a Fixer Upper in Chicago

Buying a fixer upper

If you’re interested in buying a multi-family home in Chicago, a fixer-upper is an ideal investment. A fixer-upper is a home that needs repairs and will require renovation work. 

There are many reasons to buy a fixer-upper in Chicago. If you’re picky about interior design or want a property in a specific neighborhood, buying a home and renovating it allows for flexibility. It is also an excellent way to build equity. Many buyers will only buy a property that is finished, so it’s possible to find hidden gems if you’re willing to put in the work.

Some homes may only need minor repairs, while others will be a full rehabilitation project. It’s important to have the right real estate agent, contractors, and inspectors on your team to help analyze and complete the project effectively. The key to buying a fixer-upper is choosing the right property, working with the right people, and understanding the necessary repairs.

Buying a fixer-upper in Chicago is a smart business decision and a great way to find a long-term home for your family. If you’re looking to purchase a multi-family home and are comfortable with the renovation process, take a look at our home repair costs chart to get an idea of the costs involved.

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June 23, 2020

Buying a 2 Flat in Chicago: 5 Simple Tips

Buying or Selling Chicago 2 Flats

The “Two Flat” is a major part of Chicago history. One of the most common real estate options on the market, a 2 Flat is a two-story building with a legal apartment on each floor.

Many of them were built as far back as the 1910s and continue to be a mainstay of neighborhoods like Avondale, Bridgeport, Brighton Park, and Humboldt Park. While some have been converted to single-family homes or knocked down in favor of high rises, buying a 2 Flat in Chicago continues to be an excellent investment choice.

#1 Rule of Real Estate: Location, Location, Location

2 Flats currently make up about 30% of the city’s real estate market. In fact, the term itself is pretty much exclusively used in Chicago. With so many options to choose from, how do you know which 2 Flat is right for you?

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March 19, 2020

Two Flats in Chicago

chicago brick 2 flats

Chicago Real Estate is flush with many types of homes, ranging from single-family homes to multi-family buildings, bungalows, Victorian Mansions, and of course many high rise buildings. 

One of the often under appreciated options are the Chicago 2-flat buildings. The great history of Chicago is built upon two-flat housing, brick by brick.

What Is a 2-Flat?

A 2-flat is a two story building with a legal apartment on each floor. Two Flats are also known as Duplex apartments in other parts of the Country. However, in Chicago a Duplex is defined as an attached single unit comprised of two floors with interior stairs connecting them both, typically in a condo building.

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March 19, 2020

Lincoln Park Multi-family Real Estate Prices and Neighborhood

Lincoln Park Multi-Family Homes For Sale

Lincoln Park is a beautifully sophisticated neighborhood that is an ideal place to call home. Over the last ten years property values have increased 39% making it one of the most in demand neighborhoods in all of Chicago.

It features a stable market and many renters return or remain in the area because of its ideal location. There are many multi-family properties in need of updates, perfect for buyers who are ready for a challenge.

Lincoln Park Real Estate Market At a Glance

Right now, Lincoln Park real estate prices have remained stagnant after years of increasing in value. Since 2012, Lincoln Park properties have been on the rise increasing over 127% of their value.

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March 3, 2020

Irving Park Multi-family Real Estate Prices and Neighborhood

Irving Park Real Estate For Sale

Irving Park is truly an authentic Chicago neighborhood. The history of Chicago is displayed throughout these neighborhoods with beautiful architecture and style to each property. 

It is is known for its architecture. Some of the buildings in this neighborhood have been around since before the Chicago Fire in 1871 and run the gamut from bungalows to Victorian mansion. 

Irving Park is home to ample lofts, homes, condos and multi-family apartments. The neighborhood gets its name from the famous author, Washington Irving.

Irving Park Market At a Glance

Multi-family homes have increased by 1.08% compared to January of 2019. Irving Park properties have had a healthy advance for the past decade. The price for a multi-family home in Irving Park has increased 120% since 2012

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Feb. 21, 2020

Selling Your Chicago Multi-Family Home in 2020

Multi-Family Real Estate Prices

If you’re considering selling your apartment building this year, the market is currently on your side. In general, a healthy real estate market has a 3-5% annual appreciation rate. Chicago Multi-family real estate prices have appreciated roughly 40% since January 2015, that’s an 8% appreciation per year. Keep in mind that real estate is local so it is important to research your neighborhood to get accurate data and make a wise determination.

Should I Sell My Property Now?

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Feb. 13, 2020

Portage Park Multi-Family Real Estate: Complete Guide

Portage Park 2 Flats For Sale

Portage Park was home to a small population until the beginning of the twentieth century when the streetcar system linked it to the downtown area and now it's an ideal escape for Chicago residents who are tired of the crowded tenements and want a quiet refuge from the city. 

It’s a great neighborhood for those who want the chance to get to know their neighbors, want access to many amenities and eateries and are looking to escape the hustle and bustle of the city - while still being conveniently close to it.

Portage Park Real Estate Market At a Glance

Multi-family home prices have increased by 1.75% compared to December of 2018. However, these increases have remained steady over the better part of the last decade. The price for multi-family homes has increased by 90% since December 2011.

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Feb. 7, 2020

Streeterville - East Water Place

Streeterville Real Estate - Luxury Townhome For Sale

436 E North Water Unit A - Offered for $1,599,000

streeterville Townhomes

Oasis In The City

Are you looking for a lifestyle change in 2020?  Perhaps you want to downsize from a large single family home in the suburbs and move to the city, yet you still need enough space to accommodate adult children, aging parents, relatives or guests.  You want to enjoy all the city has to offer, yet in a quiet and relaxed atmosphere.  If you are looking for an Oasis in the City, then we have the perfect home for you!

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Feb. 6, 2020

Avondale Multi-Family Real Estate: Complete Guide

Avondale Real Estate

Avondale Real Estate: Get to Know the Neighborhood

Avondale is a smaller, residential neighborhood that provides the experience of a community-oriented neighborhood complete with modern conveniences nearby and an enticing nightlife. 

The area provides small businesses and large retailers all dotted along the main roads, but beyond that are sprawling residences, intermixed with well known local hot spots for dining and nightlife. 

This makes it a great locale for homeowners, renters, and landlords alike - close to the city, but far enough away to have more reasonable prices and a more relaxed lifestyle.

Avondale Real Estate Market At a Glance

The current Avondale Real Estate Prices for closed sales in Avondale range between $139,990 and $950,000 with the median sale price of $399,000. This brings the average price per square foot to $222.

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Jan. 25, 2020

Logan Square Multi-Family Real Estate Prices and Neighborhood

Logan Square Real Estate

Logan Square Multi-Family Real Estate: Complete Guide

Logan Square has been enjoying a renaissance and, as a result, is now one of Chicago’s Premier Neighborhoods, along with Bucktown and Wicker Park. 

Once you walk along the tree-lined main strip of North Milwaukee Avenue, it is easy to see why the 3.23 square miles of Logan Square has become a real estate jewel. There you’ll find unique eateries, art galleries, music venues, and amazing architecture dotting this family-friendly (and pet-friendly) Northside neighborhood, only seven miles from downtown Chicago.

Logan Square real estate prices and its rich property market reflect the ongoing attraction of this contemporary area.

Logan Square Market at a Glance

Logan Square is known for its dynamic housing options, including:

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