Chicago Real Estate and Community News

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:

By Jose Hernandez – Your Local Portage Park Real Estate Expert With 20+ Years of Experience

Portage Park has transformed from a small early-twentieth-century community into one of Chicago’s most desirable residential neighborhoods. When the streetcar system first linked the area to downtown, it became a haven for residents seeking relief from crowded city living. Today, Portage Park continues to attract homebuyers and investors who appreciate its quiet residential feel, walkability, large parks, and close proximity to both downtown Chicago and O’Hare Airport.

Chicago’s Belmont Cragin neighborhood is home to 80,000 multicultural, hardworking residents. After working diligently with the city of Chicago, 2242 N Major Ave is officially off the market. Jose Hernandez was able to get the property approved as a legal 2-flat and put it under contract all within 40 days. Earlier this year, he also successfully sold 4929 W Schubert Ave in the same neighborhood.

Buyers and Brokers: What New NAR Regulations Mean for You

Starting August 17th, there will be some impactful changes in relationships between brokers, buyers, and sellers in the real estate market. 

These regulation updates result from a landmark lawsuit between the National Association of Realtors and homeowners. They are bound to leave buyers and sellers scratching their heads and scrambling to keep up with once-established rules. 

Let's discuss what these amendments mean for brokers and buyers and your next step:

What is Changing? 

The major shift defines when and how brokers enter into exclusive buyer agreements and will be compensated going forward. Traditionally, a seller would pay the buyer's agent fees indirectly through their proceeds. Now, the compensation responsibility has shifted to the buyers. This move is in both the brokers' and buyers' best interest.