lincoln park: Where To Build The Next High-Rise In Chicago?
- 02/04/14 07:49 AM
With many of the popular areas already developed in Chicago, developers run into certain challenges like; where can a new development be added in an already thriving neighborhood? Neighborhoods like the South Loop, River North, West Loop, and Bucktown/Wicker Park all seeing their fair share of new development, but how about Lincoln Park, which has been a premiere neighborhood along Chicago’s lakefront for years. Where is a builder to build when vacant land is nonexistent?
Well, if you are Warren Baker, of Baker Development Corporation in Chicago, you could buy everyone out of an existing building and raze it to … (0 comments)
lincoln park: Say It Isn't So, Prices in Lincoln Park, Chicago Decline
- 02/11/12 09:56 AM
Say it isn't so! Even in the desirable areas of Chicago, prices have declined. 2443 N Burling, Chicago declined from $455,000 to $405,000 in the matter of just a few years based on re-sale data of an existing unit. Granted, this is not a 30% decline from peak to trough that so many areas of Chicago have experienced, but nonetheless, that is a lot of cabbage the a condo owner is walking away from to sell the unit and move on to something else. Needless to say, if this transaction in a desirable portion of a desirable area is any … (0 comments)
lincoln park: Burling Street in Lincoln Park (Chicago) Is Not Immune
- 02/06/12 02:58 PM
One of the benefits of longevity (yes, I said longevity and not decades) of being in a market is you have the opportunity (call it privilege call it burden) to see things come around again that you thought you might never see. For instance, bell bottoms, long since a past time of the 1970s made a resurgence in the prior decade as wide-legged pants/jeans, etc. Of course, the new (which was once old) trend is for skinny jeans...so you get my point. Most recently, we were completing an appraisal of a 2 bedroom 2 bathroom condominium in the Lincoln Park neighborhood … (0 comments)
lincoln park: It's Cold Outside. So What?
- 01/03/12 03:25 PM
Always interesting what you will learn when talking with others after the small talk has subsided. This morning, I attended a weekly LeTip networking meeting and had the opportunity afterwards to chat with one of the chapter members who is an attorney. Turns out his client owns several properties and one in particular is a personal residence on a very nice block in Lincoln Park (Chicago) next to a park. Unfortunately, the client has been unsuccessful getting the short sale done. This attorney mentioning this to me because we provide short sale appraisals to help the buy-side or sell-side get a … (3 comments)
lincoln park: 24 Hour Starbucks on Tap?
- 12/20/11 03:55 PM
One of the benefits to being a professional real estate appraiser is that you get to meet a lot of interesting people and those people know an awful lot about a lot of things. Today, during a pre-listing appraisal in the South Loop (south of Chicago downtown), the client mentioned Starbuck's test-market in Chicago for 'adult-beverages' at some of the busier locations. From what I've seen and been told, the North Avenue location is one of the busiest. It is located at North Avenue and Wells Street, in Chicago, in the Old Town neighborhood and just south of Lincoln Park. That … (5 comments)
lincoln park: Chicago - Here Comes Acadia
- 11/23/11 09:52 AM
For those who keep an eye on retail developments in the city and surrounding suburbs, they may have noticed a growing trend of top retail locations being purchased by Acadia and other competing retail acquisition groups. Most recently, after the Borders in Lincoln Park failed, the recently constructed shopping destination was destined for distress. Yet most recently, Acadia disclosed that it has bought this property along with at least 4 other centers or series of prime retail properties. What does it mean for those in residential real estate.....well, one would like to think that a real estate fund with that kind … (0 comments)
lincoln park: What's the Temperature in Chicago's Neighborhoods?
- 11/06/11 01:14 PM
Is it hot in here? Or do feel that draft? Maybe I need a jacket to keep warm...depending on which Chicago Neighborhood your paying attention to, you may feel quite differently about the temperature. Information below is based on statistics comparing Feb. - April, 2010 to Feb. - April 2011. Percentages are based on medians of total sales provided by the Chicago Tribune. You might be surprised to learn that some of Chicago's hottest neighborhoods are in decline...which is scary...and Halloween is over. Foreclosures are known to rise when markets are falling. The more declining the market, the higher the probability … (2 comments)
lincoln park: Burling Street, Still The One In Lincoln Park!
- 10/11/11 01:01 PM
You're still the one....that turns my head...! Yes, that catchy tune from 1976 by Orleans still applies to real estate and to Burling Street in Lincoln Park. Named the most expensive little enclave of streets in Chicago in 2007 by Forbes, Burling Street's appeal only seems to climb higher based on recent activity. To date, in Lincoln Park, the highest priced sale is on Burling Street and the immediate surrounding area continues to generate consistent sales in the $3mm to $4mm and occassionally $5mm range. And for Chicago, that is a hefty price tag and those are mansions! Granted on the … (0 comments)
lincoln park: Who Says Mansions Are Out Of Style in Lincoln Park?
- 09/21/11 04:29 PM
This week the local business newspaper, Crain's Chicago Business, announced that Joe Mansueto, founder of Morningstar, the mutual fund research company, has acquired a nearly unheard of 8 contiguous lots in the proximity of Lincoln Park. For those that know the area, this is quite a feat. Of course, having a net worth of $1.6 billion doesn't hurt either. If there was any doubt that the rich are getting richer and using their accumulate wealth to further identify and take advantage of the market downturns, then this should nicely dispel that doubt. "It’s difficult to accumulate more than two lots … (4 comments)
lincoln park: More Foreclosure Investing Opportunities From Chicago & Suburbs; August 1-5, 2011
- 08/14/11 11:47 AM
Well, as parents and families are preparing to send their little ones (and not so little ones) back to school and off to college, vacation season is wrapping up across many parts of the country. Maybe that is why from areas such as Wicker Park and Lincoln Park and Elmwood Park in the city of Chicago to Niles and Oak Park, there were some opportunities to invest in foreclosures which may make you salivate because others are too busy preparing for the back-to-school surge. For a number of clients of Cherry Picker Investments, parcels of real estate were acquired … (0 comments)
With many of the popular areas already developed in Chicago, developers run into certain challenges like; where can a new development be added in an already thriving neighborhood? Neighborhoods like the South Loop, River North, West Loop, and Bucktown/Wicker Park all seeing their fair share of new development, but how about Lincoln Park, which has been a premiere neighborhood along Chicago’s lakefront for years.
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