Chicago Real Estate and Community News

In April of 2014, I had the opportunity to attend a memorable event that highlighted a major effort to support homeownership in Illinois. At the time, Governor Pat Quinn held a press conference at the James R. Thompson Center in downtown Chicago to officially introduce the Welcome Home Illinois program—a state-backed initiative created to make buying a home more accessible and affordable for first-time buyers across Illinois.

When it comes to selling in one of Chicago's most desirable neighborhoods, the right strategy-and the right real estate team-makes all the difference. Our recent sale of this beautiful 2-bedroom condo in Lincoln Park is a perfect example of how strong pricing, neighborhood appeal, and expert marketing come together to create a successful outcome for sellers.

Below is a look inside the sale, the neighborhood, and how Realtor Jose Hernandez, along with his dedicated team, continues to deliver strong results for homeowners in Lincoln Park.

"Since this sale, we've also successfully sold 2541 N Racine Unit #1 in the same building, further demonstrating our expertise in marketing homes in Lincoln Park."

(Original post date 01-2018)

Thinking about buying or selling a multifamily property in Lincoln Park, Chicago? This timeless neighborhood is one of the most sought-after markets in the city for both investors and homeowners. With its historic architecture, proximity to Lake Michigan, and unmatched dining and cultural experiences, Lincoln Park offers the perfect blend of investment potential and lifestyle appeal.

Top Tips for Buyers to Win in a Multiple Offer Situation.

The Chicago real estate market maintains its position as one of the most competitive real estate markets across the United States. The current market conditions of low housing supply and high buyer interest have made multiple offer situations the standard practice instead of the exception. The right approach enables Chicago home buyers to outcompete other buyers and secure their desired property.

The following proven strategies will help you differentiate your offer to gain acceptance in competitive multiple offer situations.

Lincoln Square continues to be one of Chicago’s most desirable neighborhoods for investors and homeowners alike. I recently had the opportunity to represent the sale of a legal three-unit multifamily property at 5413 N Artesian Ave, Chicago, IL 60625—a great example of just how competitive and rewarding this market can be.

We’re excited to share the recent sale of a beautiful home at 4630 W Addison! Located between Portage Park and Irving Park — two of Chicago’s most popular and rapidly growing neighborhoods — this property didn’t stay on the market long.

But this wasn’t just any sale.

The home had previously been listed with another agent for six months without success. Our team took over in early 2025 with a fresh marketing approach. After scheduling showings for just one weekend, the home went under contract within seven days and sold for 97.5% of the asking price.

If you own a rental property in Logan Square, Avondale, Hermosa, West Town, Humboldt Park, Pilsen, or any other area nearby, you may need to know about new city ordinances that may affect how you sell your property. The Chicago City Council has recently approved a pilot program aimed at combating gentrification and protecting renters from being displaced. Here’s what you need to know in simple terms.

Life is unpredictable, and there are situations when a homeowner needs to sell their house quickly. Whether you are in a financial dilemma, have separated, going through a divorce, or are involved in an estate sale, the need to sell the house as quickly as possible is understood. Being a Chicago real estate broker with more than 20 years of experience in the industry, I have assisted many clients who have faced similar issues and helped them sell their property fast and at the right price.

"100% client satisfaction is my #1 goal!" ~ Jose Hernandez, Realtor

Hiring the right real estate broker is important when you are trying to sell a multifamily property. This has been confirmed by recent sales of a 5-unit building and a 6-unit building.

Case Study: The Misclassified 5-Unit Building

One of the properties recently purchased was legally defined as a 5-unit building. However, in the MLS, the property was shown as a 3-unit building. This led to two significant issues:

1.  Potential low buyer interest  – Due to the property being marketed as a three-unit building instead of five units, the seller limited the number of potential buyers. This is because the property appeared to be overpriced as if it were a three-unit building.

2.  Challenges with Financing for Buyers – A buyer who had initially applied for a residential mortgage for a 4-unit property was later told that they needed a commercial loan because of the actual 5-unit building. This change in financing needs that was not expected by the buyers created some pressure and lengthened the process of the transaction. If the buyer did not have the capacity to secure a commercial loan then the deal would have fallen through. 

Selling the estate after the death of both parents can be quite psychologically trying on everybody. Whether it is handling the legalities alone or with your family, fights are sure to crop up at any moment, which again is pretty unavoidable. It can be quite prudent to take advice from an experienced lawyer and real estate agent so that it may help and guide you with the selling process of your estate, as expert advice can prove to be a great source of relief for many.

The nuances involved in selling real estate can often be complex and puzzling to undertake alone. In cases where heirs do not plan to assume ownership of their parent's house, it would be preferable to outsource the proceedings with the help of a lawyer and a trusted real estate agent. Further, we discuss the most urgent questions about how to sell your parent's house in Illinois and what one can expect in various legal scenarios.

What is an Estate Home Sale?

Estate home sale is a process that involves putting up a property for sale in the event of a relative's death. The best way to address the issue is first and foremost hire a real estate agent and attorney to work through the legal agreements of the sale.

How Does an Estate Home Sale Work?

Once employed, an attorney can assist you through the initial stages of selling an estate before a real estate agent takes over. Once relevant documents are delivered prior to listing an estate for sale, the process of sale becomes smoother. Following is a list of documents you will need to present to the attorney and real estate agent on an individual-case basis: