Category Archives: Press Release

Chicago Real Estate Round-Up: Tuesday Edition

Chicago new construction contracts on the rise in 2011
[Chicago Real Estate Daily]
While the housing market is still slowly recovering, there is one market segment that is seeing an improvement so far in 2011. The number of local construction contracts for both residential and commercial buildings have been on the rise in the Chicago area during the four months of the year. From January through April, the cost of new contracts totaled $1.45 billion, representing a 14% increase over last year at this time.
These numbers bode well for the industry, but …

by Liz SanFilippo on June 14, 2011

Quick Monday: Chicago real estate round-up

Glut of foreclosures offer opportunity for buyers
[Chicago Now, Home Buying Institute,  Foreclosure News]
Nearly half of all mortgages in Chicago are underwater, according to Zillow. Chicago is also number five in the U.S. for the fastest falling home prices. These trends are all due to the rising amount of foreclosures on the market.
While this news isn’t the best for sellers, as it decreases overall real estate value, it is good for buyers, because it means that Illinois consumers can often get homes for 40% below the usual asking price, one of …

by Liz SanFilippo on June 6, 2011

‘Second City’ First in Environmental Design

Hundreds of urban innovators came together at the Palmer House Hilton last weekend for Chicago’s annual Environmental Design Research Association (EDRA) conference.

The EDRA conference was already in full swing when I arrived Thursday afternoon. Dozens of design professionals stood near the entrance of the Palmer House, laughing and talking about industry issues. Many more sat in the lobby, flipping through the various leaflets, pamphlets and scheduling booklets they’d been given—struggling to decide which presentation to visit next.
And what a struggle it was! There were no less than 47 group presentation …

by Lindsey Anderson on June 5, 2011

Obama’s Ode to Chicago Architecture: The President Speaks at the Annual Pritzker Architecture Prize Event

President Obama spoke yesterday at the annual Pritzker Architecture Prize event, in Washington D.C. The president lightheartedly admitted in his speech that there was a time when he wanted to be an architect more than he wanted to be a politician. He also admitted that it was the city of Chicago that first piqued his interest in architecture:

“As the Pritzkers and so many others here can attest, if you love architecture there are few better places to live than in my hometown of Chicago. It is the birthplace of the …

by Lindsey Anderson on June 3, 2011

Many brokerages losing out on Web leads

It’s no secret that a successful business nowadays typically needs a strong presence on the Internet. Yet, the real estate industry is still behind on the times, losing out on way too many leads generated online, or so CMS Consulting and One Cavo recently reported.
In fact, brokerages are losing out on 75% of all web-based generated leads, according to the secret shopping study performed in 56 different independent and franchised firms across 19 states. It’s all about lead response time, One Cavo founder and President Bradley Miller says. With consumers increasingly using …

by Liz SanFilippo on June 2, 2011

Quick Monday: Chicago real estate round-up

Distressed property sales increase in March 2011
[National Real Estate Investor]
Thirty-percent of all home sales in March 2011 were due to distressed property sales, a large jump compared to February, according to Moody’s/REAL National All Property Price Index. While this means lenders and investors are realizing losses on their distressed assets, all other properties on the market – particularly luxury ones – are showing signs of increasing in price.
Other Top News:
Spike in vacant south suburban homes, according to 2010 census [Chicago Sun-Times]
Two real-estate boards merge [Realty & Investments]
Aqua Skyscraper in Lakeshore East …

by Liz SanFilippo on May 30, 2011
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