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newsletter1st Quarter – 2011

current listings

brief market overview2010 was another tough real estate market and the table below highlights some o the key metrics or the en

city or 2009 vs. 2010:

The average price actually increased across the city by 4% vs. prior year, which was not expected. However, th

was a 14% decline in the amount o residential properties that sold. The tax credit was a huge help, but it did

incentivize anyone that was not already intending to purchase--it just moved up the timing to the rst hal o 20

Economists are predicting an 8% drop in prices by mid-2011 ( Wells Fargo), which will be a continued unction

the large, distressed-property inventory (i.e. short sales, oreclosures and REOs). Interest rates are on the rise

year xed is currently 4.875%), so i you are thinking about buying or selling, the time is now. As rates continu

rise, it will be more dicult or buyers to aford a mortgage.

The market is constantly changing, and with so much inormation available, I can help provide a clear, lo

perspective. I you want more inormation on anything related to home buying or selling (in depth market analy

current interest rates, etc), please contact me.

concierge corner

CPG Property Management: We now ofer property management services. Have a single residence

or smaller homeowner association that is in need o management? CPG Management’s Landlord

Rental Management and Homeowner Association Management services address the needs

o the residential property owner/investor through smaller condo associations. CPG Management

handles all aspects o property management rom tenant placement to property oversight to

nancial reporting. Give me a call or send an email or an initial consultation to assess your needs.

Have you ventured over to Edison Park lately? There are a lot o great restaurants serving somamazing ood. Take some time to explore some o the neighborhood’s delectable eateries:

tasty real estate

Le Flour Bake Shop& Market6701 N. Olmstead Ave.773-631-1400www.leflour.comLe Flour serves breakastpastries, cae-stylelunches and French-inspired sweets. Try

a resh muin orbreakast. And or lunch,the poached pearhazelnut tart.

Moretti’s Ristorante& Pizzeria6727 Olmsted Avenue773-631-1223www.morettischicago.com/edisonpark A sports bar that alsodelivers a ull Italianmenu, including award-

winning pizza. Enjoy40+ big screen TVs anda garden patio thatseats 300.

Don Juan Restaurante6730 N. NorthwestHighway773-775-6438A un south-o-the-border restaurant withunique daily specials- e.g., venison ajitas.Customer avorites

include the Baja ish andveggie tacos.

Café Touche 6731 N. NorthwesHighway773-775-0909cafetouche.comCaé Touche oers French classics - e.gbouillabaisse androasted duck, and a

extensive list o Frewines and French aBelgian beers. 

600 N. Michigan #2008 - $815,0002 BD/2.5 BA, Condo

1148 W. Roscoe #3E - $359,9002 BD/2 BA, Condo

2800 N. Pine Grove #8L - $117,500Studio, Condo

4810 N. Paulina #3E - $177,9991 BD/1 BA, Condo

8029 Laramie - $259,9003 BD/2.1 BA, Single Family

1306 N. Wood #2 - $345,0002 BD/2 BA, Condo

902 W. Roscoe #2 - $439,9002 BD/2 BA, Condo

1395 N. Milwaukee #1W - $400,0003 BD/2 BA, Condo

2540 W. Diversey #203 - $400,0003 BD/2 BA, Condo

400 N. LaSalle, #3106 - $130,000Studio, Condo

3430 N. Elaine, #4 - $225,0002 BD/1.5 BA, Condo

2550 W. Logan Blvd # 2 - $374,9003 BD/2 BA, Condo

622 W. Oakdale #2 - $624,9003 BD/2 BA, Condo

2009 2010 % Chang

#Units 25,315 22,184 -14%

Average Price (SOLD) $215,840 $225,049 4%

Average Market Time 159 143 -11%

Q4 sales

1735 N. Paulina St #4211 BD/1 BA, Condo

936 N. Honore #32 BD/2.5 BA, Condo

1300 N. Wood #33 BD/2 BA, Condo

1300 N. Wood #13 BD/3 BA, Condo

1865 Hoyne5 BD/4 BA, Single Family

55 E. Erie #46022 BD/2 BA, Condo

1 E. Scott #608Studio, Condo

5452 S. Ridgewood Ct4 BD/2.2 BA, Townhome

1555 N. Dearborn #5D2 BD/2 BA, Condo

1439 S. Michigan #2092 BD/2 BA, Condo

2521 N. Spaulding6 BD/2 BA, 2-Flat

1718 N. Hermitage #32 BD/2 BA, Condo

2757 N. Wayne #A2 BD/ 1.1 BA, Townhome

1742 W. Lemoyne4 BD/2 BA, 2-Flat

100 E. 14th #7062 BD/2 BA, Condo

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EDISON PARK

neighborhood spotlight

EDISON PARK  is located on the ar northwest corner o the city next to

Park Ridge and Norridge, and is bordered by several “O” streets – Oliphant

Oshkosh, Olmstead and the Northwest Highway. It lies a little more than

mile west o the Chicago River, along a Metra commuter line. Named ate

Thomas Alva Edison, Edison Park was given the nickname o the “Electri

Suburb” since was one o the rst Chicago neighborhoods to have electri

streetlights. It was annexed into the city o Chicago in 1910.

The area has changed rom a home to various Native American groups to

a arming community to a railroad suburb to a Chicago neighborhood

At each transition, new residents and land uses have conronted old

ones, reshaping the landscape. While Edison Park currently has a hig

median income, property values have not always kept pace. The median

home price hovers just above $200,000, making this neighborhood an

excellent value. There is a large selection o housing choices including

new construction single-amily homes, condos, bungalows and two and

three ats.

One o Edison Park’s most notable eatures is its restaurant row. Peopl

rom all over Chicagoland converge on Edison Park’s restaurants o

delicious meals in an attractive setting. The neighborhood also stagean annual Edison Park Fest, which eatures ood rom all around the

northwest side o Chicago. Edison Park Fest occurs around mid-August

Edison Park itsel hosts a eld house, playground, and ofers educationa

and social programs park year-round or adults and children.

selling your home

buying a home

upgrading/remodeling

Are you outgrowing your current home or readyor a change? Let me pull together a comparative

marketing analysis or you and we can discuss amarketing and positioning/pricing planto sell your home.

Interest rates are still at historical lows, so it is agreat time to jump into the marketplace and seewhat your options are. I can walk you through thesteps to buy a new home and get you in contactwith a great mortgage broker to answer all yournancial questions.

There are many ways to upgrade, updateor remodel your home. By tapping into myknowledge o the real estate market, I can helpyou determine what to upgrade to help maximizeprot when selling your home.

neighborhood market snapshot

“How’s the market?” I get asked this question a lot. Belo

are statistical data based on properties that have recently sold. Bevery neighborhood, block, street and home is unique and a cha

cannot tell the ull story. For a more in-depth analysis and thoroug

property evaluation, please contact me.

Edison Park Market Snapshot

Average sales price

Average days on market

No. o properties on market

Sale price as % o asking price

30-day change

30-day change

30-day change

30-day change

$279,693

159

106

93%