Chicago Condo Developments
Chicago condo developments are scattered all over Chicago and the suburbs. We now see Trump Tower as part of the Chicago skyline matching heights with The Sears Tower and The John Hancock Building. What are the newest Chicago condo developments? Have you seen Aqua Tower? This is a beautiful condo development in Chicago’s Loop area. Silver Tower and Walton on the Park are both spectacular developments as well. If you go to OwnACondo.com’s website, you’ll see not only all the newest condo developments in Chicago, but you’ll be able to view all the individual condos that are for sale today.
For all you first time buyers wanting to buy into a Chicago condo development, now may be one of the best times in the history of buying to get a deal. The United States Government has put together a stimulus package called the $ 8,000 tax credit for first time buyers. Basically this means that if you buy a Chicago condo before November 30, 2009, you’ll receive an $8,000 tax credit check for your purchase. Many Chicago developers are matching this creating a $16,000 credit. With the interests as low as they are, coupled with these incentives, it’s really put a spark into the market place as of late.
Chicago condo developments have had trouble as of late with the market coming to a stall over the last three years. What this did is drastically reduce prices across the board. Right now, there are deals just to keep the Chicago developer’s heads above water. Some of these projects are in workout or foreclosure creating a second and third level of deals.
This is a great time to buy a Chicago condo. They’re everywhere and the developers are now finally responding. If you’re looking to purchase, now may be that bottow of the barrel line that you can get into hoping that the prices from this point on move up. If you’re looking for financing a condo, OwnACondo.com has a division that does just that. It’s called FinanceACondo.com and it can help you with just about any need you have when it comes to financing your condo.Â
In Chicago, a city as large as it is, it’s important to choose the right Realtor to help you with the largest investment of your lifetime. OwnACondo.com has dedicated fulltime Realtors that can do just that. They know condos like no one else. If you’re interested in buying into one of these Chicago condo developments, they’ll be glad to help.
Chicago Developments
Is 2009 the right time to buy a home? Let's evaluate where the market is, and what's happening with Chicago developments and properties. First, the impact the economic situation has had on the Chicagoland marketplace. According to Trulia.com, the median sales price for homes in the Chicago, IL area decreased 23.1% for the period of 12/08 through 02/09 compared to the same period 12 months prior. According to the Illinois Association of Realtors, the median home price in the city of Chicago was down 28.9% in January 2009 vs. January 2008.
Prices are down. Simply put. Now, let's couple decreased pricing with the staggering amount of inventory, and number of distressed properties, and a situation exists where we have a definitive advantage for a home buyer.
However, opportunity alone doesn't necessitate a desire to finally have a condo of your own. If you are considering Chicago developments and properties, and are not solely motivated by the decreased prices, and ample opportunities, let's consider financial advantages. Have you investigated the $8,000 tax credit? You can learn more about it at OwnACondo.com. What about FHA Financing? With a lower downpayment and more lenient guidelines, it could provide the impetus for finally allowing you to own a condominium of your own. Talk to one of our preferred condo lenders today to see if you qualify.
Some real estate experts consider this period to be the best buyers market in over 35 years. With the combination of aggressive interest rates, ample inventory, and reduced pricing...this is truly a unique period. We don't know how long this opportunity will last, and when it's gone, we do not know when or if we will see it again. So ask yourself this question...if you do not take advantage of this time to purchase a home, will you wake up with no regrets two or three years from now? My guess is that you will! Take a look at Chicago developments and properties to see the unbelievable possibilities. Begin your condo search today at OwnACondo.com
Chicago Green Condos
We hear it on the radio and television.  We see it in the newspapers and magazines. Going green seems to be the buzz word for this decade but many people just don't know how important and what it all means. It is much more than recycling, turning off your lights when not in use, buying energy efficient vehicles, or insulating your attic. Green means construction materials, building and development techniques and many other technologies unheard of just a few years ago. There are even standards and programs for eco-certification designed to reduce the impact on our planet, the most popular being Leadership in Energy and Environmental Design (LEED). For years condo design has been incorporating green living and we are currently seeing many Chicago green condos being built in the city and suburbs.Â
Many people think it is too expensive to live in a LEED home or condo but it normally pays for itself with all the energy saving features. Some condo owners have experienced a 50 per cent decrease in utility bills immediately upon incorporating green technology. Customers today are demanding energy saving technology not only because of their own cost savings but the satisfaction they are doing their part for the planet. Energy prices are extremely volatile and unpredictable, so people are naturally interested in purchasing Chicago green condos. Developers and builders are happy with this trend because green construction seems to be insulated from the downturn in the real estate market.Â
As mentioned earlier in the article going green is more than recycling and insulating your attic. The technology today has exploded to cover almost every aspect of construction, materials, landscaping and energy renewal. Home and condo builders today T9iboast many green features, including healthier paint and carpeting, recycling of construction waste, lots of natural light, high efficiency appliances and systems, water conserving fixtures, use of renewable materials, minimal water use landscaping and "green roofs" that help moderate temperature while reducing and filtering water runoff. Architects, developers and builders are all looking at ways to reduce carbon emissions and waste with the long term goal of creating buildings and technologies that produce more energy than they consume. Builders are aiming to offer condo buyers green buildings in the same price range as what they would expect to pay for an old fashioned, non-green condo in the area.  It is a bold step for the building trades but they are up to the task to produce a high quality product that is cost effective and the market will embrace.
Chicago Realty
Are you unhappy with the results, or lack thereof, that your Realtor is giving you? I have recently found out that all Realtors are not the same. There are many Chicago realty services that do not provide their customers with quality service. I was very disappointed with the lack of professionalism in my Realtor; but unfortunately I had signed a contract with them. After six months of empty promises and not having one qualified buyer that was interested in purchasing my house, I was able to get out of the contract and find a new Chicago realty service.
Luckily, the tides changed quite quickly. The new Realtor came out and took some fantastic pictures of both the inside and the outside of my house and posted them on a MLS listing. They also provided me with a list of things that I should do to prepare my house for a successful showing. I took their advice and got rid of some of the clutter around my house and I painted the walls a neutral color as my realtor suggested.
During the first month, I had one to two showings per week, which was much better than the one showing per month that I was averaging before. My Realtor would always show up before the prospective buyer and make sure that my house was ready to be shown. While he was giving the prospective buyers a tour of the house he would not only talk about all of the great features that my house had to offer but he would talk about all of the wonderful things that my neighborhood had to offer. I was really impressed that he had taken the time to not only find out about the schools and shopping centers, but when a family that had two young children with them came, he told them all about programs that the local park district offered for children.
After the first month I still did not get any solid offers so my Chicago realty agent suggested having an open house. I thought it was a great idea. He put up signs and advertised in local papers and when the day came there was a huge turnout. I had two offers the very next day and I was able to get my asking price. I was thoroughly impressed by the job that he did. So, if you have a realtor that is providing you with the good service, find another one that will.
Chicago Condo Development
When choosing a Chicago condo development there are many things you should always keep in mind. Some things are obvious to us all but others may not be.
We all know we need to check out the structure of the building. Was it really designed to be a condo or townhome complex or was it a conversion? At first glance you may not be able to tell because conversion many times can look even better than the old design. If you really want to know you can check with the local city planning office and ask for the plans that were submitted by the developer. You think a conversion may not matter with today’s building codes but noise and insulation problems may arise since the design was made for different purposes. You should always insist on a building inspection that you are interested in purchasing. Most inspections will cover the common areas of the building but you might want to take a more invasive approach to identify structural and integrity concerns.
Another obvious area to check out before you buy a condo is the community. Try to find out if there is a sense of community within the complex. One of the best ways to find out is to spend some time in the common areas. Do the residents seem happy and satisfied? Do they respect each other and their privacy? Ask some questions while you are there, such as what they like and dislike about their community. Smiling and making eye contact while talking with your potential neighbors can speak volumes about the place in which you are about to invest.
Make sure check into some of the extras that may be offered. Is there a parking space included in the price and where is it located? Is the location convenient and safe? Are there extra storage areas, are they free and secured? If there are pools, hot tubs, gym areas, are they well maintained and clean? Do they meet legal and safety regulations? These extras may make the difference in how well you enjoy your new condo.
One last area that may not be as obvious but is becoming more prevalent is green living. More and more condo buyers are embracing the green living concept and many Chicago condo developers are meeting the challenge. Developers are seeing the change in mood of condo buyers and are now seeking to be certified by the United States Green Building Council. Buyers today are looking for green living developments not only due to energy saving features but as a way for them to lessen the impact on the planet for future generations.
Chicago Condo Developments
The latest of Chicago Condo Developments to hit the skyline of Chicago is The Trump International Hotel and Tower.
The Trump International Hotel and Tower, also known as Trump Tower Chicago and locally as the Trump Tower, is a skyscraper condo-hotel under construction in downtown Chicago, Illinois in the United States. Architect Adrian Smith, who worked for Skidmore, Owings and Merrill during the building's planning and design stages, designed the building, named after real estate developer Donald Trump. Bovis Lend Lease is building the 92-story structure to a height of 1,362 feet (415 m) including its spire, with its roof topping out at 1,170 feet (360 m). It is adjacent to the main branch of the Chicago River with a view of the entry to Lake Michigan beyond a series of bridges that cross the river. The building received publicity when the winner of the first season of The Apprentice, Bill Rancic, chose to manage the construction of the tower.
Trump announced in 2001 that the skyscraper would become the tallest building in the world, but after the September 11, 2001 attacks, the building plans were scaled back, and its design has undergone several revisions. According to the current design, upon completion in 2009 it will be the second-tallest building in the United States after Chicago's Sears Tower, rising above the Empire State Building in New York City and Chicago's current second-tallest, the Aon Center, and third-tallest, the John Hancock Center. It is expected to be surpassed by the Freedom Tower in New York City in 2014 and by the Chicago Spire in 2012. Trump Tower will surpass the Hancock Center as the building with the world's highest residence above the ground until the Burj Dubai claims this title.
The design of the building includes, in order from the ground up, retail space, a parking garage, a hotel, and condominiums. The 339-room hotel opened for business with limited accommodations and services on January 30, 2008. April 28, 2008 marked the grand opening with full accommodations and services. A restaurant on the 16th floor opened in early 2008 to favorable reviews for its cuisine, decor, location, architecture, and view.
The design of the latest of Chicago condo developments incorporates three setbacks to give it a visual continuity with the surrounding skyline. Each of the setbacks is designed to reflect the height of a nearby building: the first was designed to align with the Wrigley Building, the second with the Marina City Towers, and the third with the 330 North Wabash building (formerly known as IBM Plaza); however, some views belie the alignment of the second setback. The setbacks and rounded edges of the building will combat vortex formation.
The building will contain 2,600,000 square feet of floor space, rise to 92 stories, and house 486 luxury residential condominiums. These will include studios, one- to four-bedroom units, and five-bedroom penthouse units. The tower also features a luxury hotel condominium with 339 guest rooms. The 3rd through 12th floors will house lobbies, retail space, and the parking garage, the 14th floor and its mezzanine host a health club and spa, the 17th floor through the 27th floor mezzanine contain hotel condominiums and executive lounges, the 29th through 85th floors will have residential condominiums, and the 86th through 89th floors will have penthouses. Plans call for a 1.2-acre riverfront park and riverwalk along a 500-foot space in the area surrounded by the hotel to the west, the Chicago River to the south, Rush Street and the Wrigley Building to the east, and River Plaza to the north.
The building will break the record for the world's highest residence, which has been held since 1969 by the nearby John Hancock Center. Because the Trump Tower has both hotel condominiums and residential condominiums, it will not contest the record held by the 80-story Q1 Tower in Gold Coast, Australia as the tallest all-residential building. The Chicago Spire, however, is set to break the records for tallest all-residential building and highest residence on its completion in 2011.
If living in style and luxury are for you, call the Condominium Specialists at OwnACondo.com for more information about the latest of Chicago Condo Developments!
Chicago Vacation Apartments
When you are thinking about your vacation there are several things that need to be considered. Is your vacation site someplace that you may visit many times over the years? What is the cost to vacation in this location with all the amenities you want? Is there enough space if you intend to bring your entire family and have some privacy? If where you go is Chicago, then think about Chicago vacation apartments or maybe a condo. There are some nice aspects of staying in a hotel or apartment but there are reasons to book a condo.
Normally you spend only your evening hours in an apartment or hotel so why pay a higher cost. In some cases a condo could be 10-20% less expensive.
¦lt;br /> Dining can be one of the most expensive costs for your vacation, especially if you are feeding your whole family. Children are accustomed to foods they enjoy at home and if you are dining in your own condo then it is much easier to prepare the foods they like. Another nice thing is that you have the option to dine in or out which can be a enormous cost reduction and please everyone by offering choices.
Peace and quiet is another advantage to a condo if you are looking for a romantic vacation without the kids. Condos are built to keep noise to a minimum. Hotels with elevator bells, loud late-night guests, and children running up and down halls are not very conducive to that romantic getaway. Being in a Chicago vacation apartment or condo means that you can sleep in and you will not get that hotel employee knocking at your door when you are trying to relax.
Comfort and more space are considerations when booking your vacation in a condo rather than a hotel. For the dollar value you get much more space in a Chicago condo than any hotel or apartment. More space means more privacy especially if the kids came along. Condos come with separate kitchens, living rooms, bedrooms, and sometimes even family rooms which translates into a more comfortable, stress free vacation for everyone.
One other major advantage to a vacation condo is that it is yours. You can rent it out if you desire when you are not using it which helps in paying the costs. Additionally, if you decide to sell you could realize a nice profit.
All of these things and more are the reason you should consider a Chicago vacation apartment or condo if Chicago is your primary vacation destination.
