PM's, does anyone use a platform they can recommend that allows renters to pay rent electronically that also allows managers to pay vendors and contractors, which the landlord can also access and draw from? .... or do you just set up bank accounts with the landlord and make the manager an authorized user?
I don't get it. All I ever hear on the news is how people are fleeing to "greener pastures". How in the world is local real estate so expensive, and in general, much older than "hotter markets"? You always hear how people are fleeing to places with low-taxes and more highways lol. Dallas, Houston, anywhere in Florida, Arizona, etc. OK, noted, so then how the **** we charging so much for homes up here? Who is moving in?? And yes, indeed, I did some googling. You can get a super nice/spacious new-build about 1.5 hours outside of downtown Dallas in the mid 700s. Can we blame the flee-ers?
For those who don't know, a quick summary:
In addition to this, many agents are reporting that Zillow took their PRIVATE LISTINGS AND POSTED THEM PUBLICLY. Infuriating clients. Is this happening to anyone else?!1
After a year of development, I’ve built an app that allows you to acquire a complete profile of an address instantly. Now I'm wondering who the heck it'd be useful for. Here's the gist of it:
Search any Chicago address to instantly access:
I’m looking for beta users to give it a whirl. After too much time spent on it, I'm not even sure if it's actually useful to anyone. I just got carried away in a fun project. At any rate, lmk if you're interested to test it out and I'll throw you premium for free for a few months.
Here it is if you want to take a gander: https://civicscout.co
I know this may be a silly request with how crazy the market is, but my husband and I have been looking on the north side for ~4 months now, and have lost 3 competitive bidding wars to 3-4 bedroom condos, so throwing a hail mary on reddit...
If you are open to selling privately in any of the below neighborhoods that match the criteria, please message me!
Neighborhoods: Avondale, Logan Square, Bucktown, Wicker Park, West Town, Lakeview, Lincoln Park. Prefer to be closer to the highway for easy access to 90.
- small multi unit building w/ low HOAs
- lower floor unit or duplex down
- 3-4 bedrooms / 2+ baths
- small common front or back yard w/ grass (we have a dog)
- 1 garage space, potential for decent street parking for a second car
We're pre-approved and are working with a month to month lease so have a lot of flexibility!
Re: budget - we've bid on list prices between $575K - $675K, but could be more flexible with an off-market sale.
I want to purchase a property with residential mortgage which allows up to 4 units. A property advertised 4 legal units and 1 non conforming unit. It is zoned R-3 in Chicago but I *believe* was grandfathered in as 4 legal units. The seller has transformed 2 units in 1 larger units to live in and added a non conforming unit in the basement. I believe it is all without permits. Therefore, 1 larger units, 2 smaller units, and 1 non conforming unit. Since seller did all of these himself without permits, would it consider illegal in the 2 units I described? I’m not sure what this would appraise as and I’m afraid I will go through the process and end up not getting the residential loan. Have you experienced anything similar? What would be your advice? Thanks in advance!
Considering a move to Chicago from out of state -- would want a 2-bedroom with parking in a hood w/ trees and parks. I'm reading about what's happening in Lincoln Park and Lakeview and wonder if other surrounding areas -- Ravenswood, Andersonville, Uptown, North Center, etc. are also experiencing these feeding frenzies where every listing gets bid up by 50-100K.
Is the crazy LP market over or are condos still going into multiple offers? I really want to buy a 2 BR/2 BA in west LP by wrightwood park and hoping it’s better a bit further west. Has the market calmed down now that it’s late spring? Budget $600k MAX
Listing agent (SFH in LP) was upfront about there being “a lot of mommy and daddy’s money on offer.”
I hope these silver spoon buyers feel the slightest twinge of embarrassment before happily signing their contracts.
My family is looking for a multi-unit or a condo that needs works in the Wicker Park/Bucktown area to live in. If you or someone you know is thinking about selling but don't want to go through the whole process of updating bathrooms, kitchens, mechanicals, etc. then we're so interested. We're used to properties that need work, but everything that we see going on the market is "done" and priced as such but not really our taste. We have experience with renovations and are excited about the potential to make something our own.
For a condo, we're looking for a 2br+/2ba that allows pets. For a multi would like at least one 2br+/2ba or two 1br/1ba units that is available to owner occupy. Needs to have garage parking. Would love it if there is a rooftop view or maybe potential, but it's not a deal breaker.
Again, if you or someone you know has something DM me.
Officially started the home-buying process and my husband and I have a modest budget of $300k for a condo in Chicago (not considering outer burbs). In chatting with our realtor he’s painted a very grim picture lol - can anyone who’s bought within this budget offer some insight? Thanks!!
EDIT: looking for 2 bed specifically, considering fringe/up and coming neighborhoods. Super open to location and we also dont mind needing to upgrade appliances/minor work.
Looking at prices of condos in my neighborhood has me itching to sell. It's honestly insane what places similar to mine are going for right now. There's a part of me that wants to list my place and capitalize on this market.
But I don't.
Because in this market, selling high means buying high. Someone buys my overpriced condo and then I have to buy someone's overpriced house.
I also currently have a 2.6% mortgage rate. Buying with a rate double that makes me cry. My current mortgage is lower than rents for 1br's in my n'hood. Increasing my mortgage payment by so much, even for a SFH, in this economy makes me nervous.
So here I sit.
Anyone else in a similar situation?
Hello Guys,
We are looking for a small commercial space in Chicago and would need the assistance of a commercial space realtor. Please let us know if you or anyone you know may be interested.
Thank you!
Hey everyone,
I’m trying to figure out whether buying makes sense right now or if I should just keep renting. Would really appreciate any thoughts - I’ll be in Chicago with my company for at least 4-5 years, maybe longer, and I’m weighing the pros/cons of pulling the trigger on a 2-bedroom condo with a total monthly cost around $4k–$5k all-in (mortgage + taxes + HOA). I wish a normal mortgage was $3500 or less but welcome to Chicago taxes and hoa as you already know!
The idea would be to live in it for the next several years and then rent it out when I eventually move. Rents for nice 2-beds downtown are already $4k–$5.5k+ and keep going up, so I’m wondering if buying could help lock in costs and build some equity.
Preferred areas: River North, Streeterville, Gold Coast, Old Town — maybe Wicker Park or Lincoln Park if the numbers work.
I’m currently in a 1-bed near the river (rent was $2600 years ago and now $3200…) and would really like a decently high floor with a good view, balcony, and nice windows if possible. I know that pushes the price up and might not be the absolute best investment move (a duplex or something with rental upside could be smarter), but I’m in sales with a busy schedule and don’t have time for big renovations. Want to be downtown near my office/train and looking for move-in ready or close to it.
Chicago’s high taxes, HOA fees, and special assessments are my main worry. Does this overall strategy make sense for someone in my spot? Is buying better than renting long-term, especially with the plan to rent it out later?
Would love any recent experiences with high-rise condos in these neighborhoods, and any strong opinions on how the value will grow over time in say streeterville vs wicker.
What are the biggest things to watch out for (assessments, tenant laws, condo boards, resale, rental market, etc.)?
Any thoughts or data points would be really helpful — thanks in advance!
Wife and I are fortunate to have a condo but are looking for more space. We know where we want to be and of course it’s where everyone else wants to be. We started out with a grid from Ashland to California for east west and Chicago to Belmont for north south.
We moved our search area as far west as Central Park Ave (down to the corner of Chicago and Central Park is the cutoff right now) and that seemed to open up more options.
We’ve seen some “yikes” flips and some really well kept homes.
Some of the areas west of Humboldt Park you can find some nice streets with some well maintained homes that are reasonably priced but you have to move quick is what we learned. We’ve driven up and down streets to get a feel at different times of day and week and what we’ve seen is most or relatively quiet.
Hello fellow real estate agents. If you were an established agent before moving to Chicago and starting over there, I’d love to hear your story. I’m doing about $12M/yr with a $12k/yr cap (no ugly team splits) and looking to replace that income ASAP in Chicago. I’ve been at it for 10 years and leads are almost all word of mouth. I built my business on open houses.
I spent about 6 years in Chicago (not as an agent) and am very familiar with the north side.
I’m very keen to hear from others who have successfully rebuilt in Chicago. Thoughts?
I have a rental property that was previously my primary residence. I’ve been renting it for the past 4 years. Unfortunately it’s expected to sell about $50k less than I purchased it for.
I’ve heard there can be tax advantages in situations like this when you go to sell. Can anyone point me to some knowledge resources, calculators, or even just a super high level explanation of my options to not totally lose 50k out of this. I’d like to avoid using a tax consultant if it’s not actually that complicated after I can wrap my head around it.
Editing to clarify this is in River North. …sigh… the only neighborhood that didn’t appreciate in the past 10 years.
I'm a new broker entering the Chicago market and trying to figure out the best brokerage/team ft before jumping in.
I'm especially curious about.
. Zillow Flex teams
. mentorship-heavy eXp teams
• boutique brokerages
•and places that are supportive of personal branding/content creation.
For those already in Chicago real estate:
• Where would you start if you were brand new today?
• Which brokerages actually train?
Any teams/ offices that are hidden gems?
Appreciate any advice. Trying to make a smart long-term decision instead of chasing hype.
Thanks!