Luxury Real Estate Options in the South Loop

The Loop forms the heart of Chicago’s central business and cultural district. Home to the Chicago Mercantile Exchange, the Art Institute of Chicago, the famous Grant Park and the Chicago Symphony Orchestra, the Loop district is one of Chicago’s best-known tourist attractions and provides a wealth of cultural, economic, entertainment and educational opportunities.

The South Loop is one of the Loop’s most desirable areas, and the South Loop Chicago real estate market is the city’s fastest-growing. Spanning the area between Jackson Boulevard south to the Stevenson Expressway and from the Chicago River to Lake Michigan, the South Loop is home to neighborhoods including Dearborn Park, Museum Park, Printers Row, Burnham Park, Central Station and Prairie District.

Condos and lofts constitute most of the South Loop Chicago homes for sale, with one-bedroom pricing from about $175,000 to more than $300,000. Two-bedroom residences are typically priced around $400,000, with some reaching $1 million. Pricing for three-bedroom townhomes starts around $500,000. Pricing remains stable even with significant growth in the South Loop in recent years.

A South Loop Chicago condo is only a 30-minute drive to Chicago O’Hare International Airport and is close to major highways. The bustling South Loop area is also home to Soldier Field and the Chicago Bears. Grant Park, known as “Chicago’s Front Yard,” is reachable by a short ride on Chicago’s rapid transit system, which serves the Loop area with nine stations. To find out more about the South Loop neighborhood, please call us today.

DO Shop for a Mortgage Lender, But DO NOT Make These 5 Mistakes

Things to look for in Lincoln Park Real EstateTop Chicago Realtors are infamous for referring their favorite mortgage lending partners to their clients. They refer lenders who they trust to get the job done, and who deliver on their promises. Instead of shopping a lender’s customer service ratings or industry experience and reputation, homebuyers shop lenders primarily for interest rates and closing costs. What most do not realize is that their individual financial situation, as well as the property being purchased, has the greatest impact on their obtainable interest rate and closings costs.

The 5 most common mistakes to avoid when shopping for a lender:

1. Select the lender who quotes the best price over the phone or internet. It is nearly impossible to enforce the practice of lenders providing accurate interest rate quotes, especially over the phone. Rates are only final until locked, because interest rates are constantly changing. Lenders assume best case and standard loan parameters when they receive a “rate shop” call. Rates, and pricing, vary according to loan size, type of house, purpose of purchase, credit and ability to document income and assets.

2. Shop a lender today and another lender tomorrow. Due to market volatility, interest rates and pricing change constantly, daily, and without warning just like the market shifts daily. When shopping rates, points, closing costs, or credits, it’s important to shop when you’re in a position to lock in a rate and decide on a lender. Get rate quotes the same day, and the same time of day, if possible. (And, remember mistake #1).

3. Do not provide your documentation until after you decide on a lender. This goes hand in hand with a common mistake in assuming that you have great credit and qualify for a mortgage. Credit scores change on a monthly basis, your income may not be eligible for conventional financing, and your assets may not be allowed in conjunction with the purchase depending on its source. Any of the fore mentioned can limit the type of financing available to you and negatively impact your ability to secure desired terms.

4. Choose a lender solely based on the lowest interest rate. Profit margins for mortgage lenders are tighter than they have ever been. If a lender offers you an under market interest rates it’s because they need to increase their mortgage application volume. WARNING: When application volume is higher, customer service and deadlines are compromised, which bottom line could result in missing your mortgage contingency and contract dates! (Remember mistake #3).

5. Shop closing costs and APR; that’s it. Again, lender profit margins are tight. Closing costs are very similar lender to lender, and the primary fee that a lender controls – and that you can negotiate is the loan origination fee(s). An origination fee consists of the lender’s fee, and any fee that you’re paying for the interest rate you desire.

What $500K Can Buy You in Streeterville

When you begin looking for Streeterville homes for sale, there are a few important things to keep in mind. Streeterville itself is a lovely area located in the great state of Illinois. While the area itself has a wide variety of different attractions that are welcoming and interesting to all types of people, one of the major things that you need to concern yourself with is your budget. If youve got $500,000 dollars to spend and are looking for a Streeterville condo or other home for sale, youll definitely have your fair share of options.

There are a variety of different Streeterville homes for sale right now that are more than worth your time. If youre looking to spend the entirety of your budget, for example, you may want to look in the downtown area at 505 North McClurg Court. With 1,204 square feet available for you and your family and with one full bathroom and one partial bathroom, the aforementioned condo will only cost $499,000.

Another similar property available for sale in the area is at 600 North Fairbanks Court. The condo in question has 875 square feet, one bedroom and one full bathroom. Its current market price is $445,000.

Streeterville is a great area that is located geographically quite close to downtown Chicago, Illinois. If youd like to find out more about the types of high quality Streeterville homes for sale right now, dont hesitate to contact us today for more information or to discuss your situation.

Selena Georgelos Joins Related Realty as Newest Broker


Related Realty is proud to announce Selena Georgelos as the newest member of the brokerage and Malone Residential.

Prior to her career in the real estate industry, Selena worked in executive sales and marketing, helping companies connect their national brands with the local Chicago market. This enabled Selena to excel in executing transactions, negotiating the sale, and become an expert in the consultative approach.

Handling her clients’ real estate transactions as if they were her own, she prides herself on building long-term relationships, being a great listener, and helping her clients every step of the way. Understanding her clients’ needs and continuously staying on top of current market trends is extremely important to Selena.

Selena is a Chicago native born and raised in the city, and a graduate of the University of Kansas, School of Journalism. Like most Chicagoans, she’s an advocate for city life and possesses a love and appreciation for everything the city has to offer. Selena has developed local market knowledge and expertise of the diverse Chicago neighborhoods through both her personal and professional experiences; working with her is like having a personal tour guide.

A resident of Ukrainian Village, Selena loves taking advantage of the city’s great restaurants, culture and music.  In the summer months when she is not working, she spends time in Sister Lakes, Michigan, which she considers her second home.

Related Midwest Named Developer of the Year by Chicago Agent

Jeanine McShea and Peter Olesker
Jeanine McShea and Peter Olesker

Chicago Agent hosted its ninth annual Agents’ Choice Awards on Oct. 14 at 850 Lake Shore Dr. Guests celebrated this year’s winners with delicious hors d’oeuvres and cocktails. Among the winners was Related Midwest, named Developer of the Year, for which Related Realty accepted on their behalf.  Attendees also enjoyed a complimentary tour of the luxury apartments.

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Meet the Related Realty Agents

medium_fb18d8f737731a4c46b9adc9e869235bRelated Realty is growing faster than ever and has recently added their newest broker: Jennifer DeVries.

Jennifer comes from two generations of real estate brokers. A native of Chicago, she received her Bachelor’s degree in Applied Psychology from the University of Illinois at Chicago. After graduating with honors, Jennifer realized that real estate is her passion and went on to obtain her Real Estate Broker’s license from the Chicago Association of Realtors.

Jennifer was named the 2013 Rookie of the Year in Chicago Agent magazine’s Agent Choice Awards. She specializes in buying and selling luxury property, and strives to provide the highest quality of service to make the process as stress-free as possible for her clients. With Jennifer, buyers and sellers can rest assured that they will be working with a partner who has a long-standing investment in the real estate business.

Lifes Luxury Living: South Loop Real Estate and The Grant Condos

Chicago has the most desired real estate in Illinois. Buyers relish the elegance of the condos and traditional homes located there. The developers have taken extensive steps to make living luxurious, easy and fun.

The Grant Chicago Condos

Sophisticated and elegant defines The Grant. Residences are stunning. Options include one to three bedrooms and baths with up to a whopping 3,000 square feet. Some condos have dens. The attributes inside are graceful, sleek and modern. Only the best appliances and accents accommodate their interiors.

Owners are wowed about the floor-to-ceiling windows. Breath taking views of the city skyline and of Lake Michigan are a daily enjoyment. With private Porte-Cohere, a heated indoor pool, hot tub and spa, this is truly luxury living at its best.

South Loop Chicago Real Estate

Want to blend the old with the new? In South Loop, the luxury condos consist of a mixture of both. The older condos, and some new ones, gracefully display the tall windows with beautiful crown molding. Others condos offer the sleek modern look.

Square footage runs from about 500 to over 1,600. Most of these condos have spectacular views of the city. Many offer such luxurious amenities as large bedrooms, beautifully maintained wooden floors, tall ceilings, marble, quartz or granite countertops, sundecks, balconies, garages, indoor pools, exercise rooms, concierge and or 24-hour door staff, to name only a few.

Condos in the Grant Chicago and South Loop offer luxurious city living that helps make living life a lot more enjoyable. So dont wait. Take that step and call us today.

Top 5 Bars in Chicago To Watch Blackhawk Games

One thing not every Chicago real estate agent will tell you is where the best sports bars are, but they should, because Chicago is renowned for its pubs and enthusiasm for sports. All over the city there are homes for sale in Chicago, so settling for a Chicago property in an area without a decent night life is a mistake.

The 5 most famous sports bars in Chicago are that promise to show Blackhawk games are:

1) Harry Carays One of the nicest sports bars in Chicago, Harry Carays is almost as famous as the man from it got its name. They do on and off site catering, weddings, and there is a Chicagos sports museum in the bar.

Do not make the mistake of thinking that it is a sports bar that just shows baseball. Harry Carays is just as wild about hockey.

2) Smoke Daddy Serving the best BBQ in Chicago, they also cater to sports fans, particularly Blackhawk fans. While Smoke Daddys catering is as popular as the bar, the bar is certainly one of the more impressive in Chicago.

3) Michaels Serving some of the best pizza in Chicago and that is saying something Michaels also has an affinity for making certain the Blackhawks games always dominate the televisions.

4) Duffys Located in the North Side, Duffys is all about sports and atmosphere. While adamant about their Wolverines, Duffys is a great place to check-out a Blackhawks game.

5) Stocks and Blondes Old school Chicago at its best, Stocks and Blondes is between West Side, North Side and South Side. A beautiful little bar on 40 N. Wells, it is as good as any in Chicago for watching the Blackhawks.