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Jim Gramata

Downtown Chicago is Deal Haven

09-05-08
Jim Gramata

600 lsdAre you ready to deal? How about a 600 Lake Shore Drive condo new construction condo one block off beaches and Lake Shore Drive for a bargain? I just sold another condo here and I want to get one myself. This sounds like cheese but there are deals to be had!


Go and make a deal or let me make one for you!

Avenue East Chicago

09-05-08
Jim Gramata

There are some beautiful places to see at the Avenue East building just off of Michigan Avenue in downtown Chicago. If you are looking for a place or would like some strategies as to how to negotiate a successful deal, let me know. I just got a $814,900 2BR condo for a client for $714,900 with parking one block east of Mag Mile.

New Home Sales Downtown Way Down

08-29-08
Jim Gramata

I just finished an article written in Crains Chicago and am blown away as to how much new home sales are down in the Gold Coast neighborhood. It will be less than half the units sold in 2007 for the first six months AND it would only be 1/4 if you take out the Spire contracts.

This is really bad news for the new homes market and when buying a new home you should take this into serious consideration when negotiating with your builder.

I just successfully negotiated a new downtown condo down from $799,000 to $715,000 but couldn't get any more after three additional attempts.

Sometimes you have to know when to say enough...Gold Coast volume for the quarter is down 14% however median prices are up 2.44% as compared with 2007 (however that includes new and resale)

Chicago Dog's Run for their Lives (so to speak)

08-29-08
Jim Gramata


Join us on Sunday, September. 28, 2008 at 9 a.m. at Montrose Beach (a designated DFA) for the 8th Annual Run For Their Lives 8K Run/4K Walk.

Raise money to support PAWS Chicago by running or walking for homeless animals. Pets are allowed in the 4K walk or test your skills in the 8K run.

Great pooches, great people, great cause, great setting.

It's pretty much all around a great time for a great cause.

Visit dogpads.net for more information on this event and other real estate related dog issues

Lincoln Park Landmark Land Battle

08-20-08
Jim Gramata

Have you heard there may be a top-down authorization for some areas of Lincoln Park which may force the properties in certain zones to be labeled "landmarked" with the intent of preserving the original quality construction properties throughout the neighborhood and attempting to decrease the amount of demolition going on to make way for the mega mansions going up.

This would have a huge impact on development and construction in the area not to mention a 'regular' homeowner who is interested in a renovation or addition. Both would see costs soar and the impact on property value would be significant.

Lincoln Park is one of the few areas that has benefited from the construction of these larger single family homes so much that an average tear down in the area is as high as $1.1 million since what is driving the land value are the ceilings of the new developments averaging around $3.3 million.

Lincoln Park Median Price Comparison

I am all for preserving the fabric for those who choose to keep and maintain the vintage structures within our community, but when large areas are forced to be considered landmarked to prevent a few buildings from moving aside to keep the developments and new single-family homes coming, I wonder to what end this purpose serves.

Where we really need regulation is on the design pallet of some of these new houses (here and throughout the city). I have no idea how some of thise ugly monstrosities are being built but let's police the general facade improvements and not limit the development opportunities which are significantly improving the land values in our neighborhood

Median Price Comparison