Bronzeville Mural

Bronzeville Real Estate Analysis – 2019

Bronzeville Single Family Homes

Bronzeville Single Family Homes sold well in 2019.
A total of 112 homes were sold. This is up 33% versus 2018.
The average selling price for a single family home was $486,975.
The average selling price was up 18% versus the previous year.
The average market time increased by 23 days versus the previous year.

Bronzeville Condos

Bronzeville Condos also sold well in 2019.
A total of 272 condos were sold. This is up 12% versus 2018.
The average selling price for a Bronzeville condo was $199,455.
The average selling price was up 5% versus the previous year.
The average market time decreased by 4 days versus the previous year.

Bronzeville 2 to 4 unit buildings

39 multi-unit properties were sold in 2019.
That is an 8% increase versus 2018.
The average selling price was $341,995.
The average selling price was up 15% versus the previous year.
The average market time decreased by 73 days versus the previous year.

Bronzeville Rentals

244 units were rented in 2019.
That is a 24% increase versus 2018.
The average rental price was $1,530.
The average rental price was actually down 4% versus the previous year.
The average market time increased by 5 days versus the previous year.

Bronzeville Land

19 parcels of land were sold in 2019.
That is a 27% decrease versus 2018.
The average selling price was $90,289.
The average selling price decreased by -44% versus 2018.
However, this may not be an apples to apples comparison.
This is because every parcel of land is a different size.
Land value is driven largely by location, square footage and zoning type.

Summary

Overall, 2019 was a great year for Bronzeville real estate.
The biggest gains were seen in the Single Family Home category.
Values for Single family homes were up 18% in 2019.
This was driven largely by sales of new construction homes.

Multi-Unit properties also appear to be in great demand.
Values are up 15% versus the previous year.
Also, the average time it took to sell a multi-unit property was
cut in half versus 2018.
This is an indication that demand for this property type is high.

Contact Mark

If you have any questions about Bronzeville real estate,
please call or text me at 773-354-6693.

Thanks, Mark Killion
Kale Realty – Chicago, IL
Cell: 773-354-6693
email: mark@markkillion.com
website: www.buybronzeville.com

Mark Killion, Realtor

Close to Lake Shore Drive. Walk to the Oakwood Beach and lakefront.
Public transportation at your doorstep. The Bronzeville real estate market is hot.
Schedule your showing today. Buy Bronzeville! Asking Price $280,000.

Front

For more information, please call or text Mark at 773-354-6693.

Until the next time,

Mark Killion
Kale Realty
2447 N. Ashland
Chicago, IL 60614

Cell: 773-354-6693

Send me a note!

Visit me online: https://www.buybronzeville.com

EQUAL HOUSING OPPORTUNITY

Newport Condos – 4800 S Chicago Beach

Sales Trends for 1bed/1bath units

Sales Trends for 2bed/2bath units

Sales Trends for 3bed/2bath units

If you are thinking about buying or selling a condo in Newport Condos,
this should give you a good idea of current values. For a more
detailed analysis, please contact me.

p.s. I have a beautiful 1bed/1bath unit, at Newport Condos, for sale at $90,000!

Until the next time,

Mark Killion
Real Estate Broker
Kale Realty
24 Hour Voice Mail: 312-242-1822

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

It is a replica of the original statue that was made for the World Exposition
way back in 1893. The original statue stood a whopping 65 feet tall!
If you are ever in the area, you should visit this statue. It really is impressive.

Statue of the Republic - Jackson Park Chicago

Until the next time,

Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!

Visit me online: www.773property.com

Gorilla holds real estate agent captive

It is not everyday that you see a gorilla kidnap their
real estate agent. But this gorilla did just that. I came across
this unfortunate agent last summer in the Gold Coast.

He had listed the monkey’s treehouse about 12 months prior
to being held captive. Apparently his client was upset with
the slow market, and couldn’t understand why his treehouse hadn’t
sold in a whole year.

I told him that the most important thing to do when you are trying
to sell a treehouse is to price it right! All the marketing in the
world will not sell an over priced house. So sellers have to be realistic
about current market values.

If you overprice a property, you might be chasing the market downhill with
future price reductions. In the current environment, you have to be one step
ahead of the current pricing trends for that neighborhood.

But anyway, it was too late for all of that great advice. The agent’s client
went bananas. He locked him in a bamboo cage and made him ask pedestrians if
they wanted to buy a house.
Wow!

Hopefully you found this information useful. If you have any questions, please let me know.
Also, please feel free to leave me a comment. I read each comment I receive.

Until the next time,

Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!

Visit me online: www.773property.com

This report covers transactions that closed in 2011.
It is based on data from the MRED MLS system.

Kenwood Real Estate Analysis - 2011 Chicago

As you can see, the real estate market has stabilized in Kenwood.
Sales are still strong, and the values are holding up pretty well.
Kenwood is a very unique neighborhood. It has a very rich history.
It’s housing stock includes majestic mansions that were built in
the late 1800s.

Asking prices for Kenwood real estate can range from $75,000 for a recent
foreclosure all the way up to 2 million dollars for
a Queen Anne mansion near President Obama’s home.

Rental demand is very high in the Kenwood neighborhood. AS you can see
from our report above, rental prices are relatively expensive.
So this would be a great area to purchase an investment property.

Here is a beautiful view of the downtown skyline from 39th and the Lake front.
If you lived in Kenwood, you could walk to the lake!

View of the skyline from Kenwood Chicago Lake Front

Hopefully you found this information useful. If you have any questions, please let me know.
Also, please feel free to leave me a comment. I read each comment I receive.

Until the next time,

Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

Uplifting Mural in Kenwood Chicago - Dr. Martin Luther King and President Obama

This beautiful mural is on the side of a school in Kenwood Chicago.
I just had to share this uplifting image on my blog.
Dr. Martin Luther King Jr. meets President Obama.
Awesome!

Until the next time,

Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

James Thompson Center and a Ferrari

With current real estate prices,
you could trade in that car for a few nice homes. LOL

Inside the James Thompson Center... looking up

Until the next time,

Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

A short-sale is a type of distressed property sale.
It is not a traditional re-sale of a property.
In a short-sale, a lender agrees to accept a payoff
that is less than what they are owed.
In this type of transaction, the lender comes up short
(hence the term short-sale).

Ironically, short-sales usually take a lot longer than
a traditional sale. Some real estate professionals
joke that they should have been named “long-sales”.
It is not unusual for a short-sale to take up to
3 months AFTER an offer has been accepted by the seller.

The reason that it takes so long is because the sale
requires 3rd party approval from the lender(s). If a
property only has one lien on it, it makes the short-sale
process much easier. This is because you only have to deal
with one lien holder.

Often times, there are multiple liens on the property.
So, you have to get written approval from each lien holder involved.
These types of short-sales are more difficult (but not impossible).
All short-sale properties have a 1st lien, which is usually the
primary mortgage. Some properties also have a 2nd lien that was
a home equity line of credit (HELOC). In these types of scenarios,
you have to negotiate with the 2nd lien holder as well.
On the bright side, many 2nd lien holders will settle for as
little as 6% of the debt.

If you are considering purchasing a short-sale property, I would
recommend researching how many liens are currently on the property.
Your real estate agent will be able to do this research for you.

If a property has multiple liens on it, the short-sale process will
probably take longer. So the name of the game is patience.
There are pros and cons with pursuing a short-sale property as a buyer.
The main downside is that the process takes a long time and it can be
frustrating. The main benefit to purchasing a short-sale is that your
patience will usually be rewarded with a great deal.
Short-sales typically sell for 10% to 20% below market value!

Benefits for a Seller:

A successful short-sale is really a win-win situation for all parties
involved. The seller gets to avoid having a foreclosure on their
credit report for the next 7 to 10 years. In many cases, the lender
may also forgive the deficiency debt. There was actually a law that
passed that made sure that the forgiven debt was not counted as
income for tax purposes. But this law is set to expire at the end of 2012.

FYI: The Mortgage Forgiveness Debt Relief Act Expires in 2012

If you are thinking about selling your primary residence,
and you are upside-down in your mortgage, do it in 2012
or forever hold your peace?after this act expires, the
forgiven debt will be viewed as taxable income (doh!)

Benefits for a Buyer:

If a buyer is patient, they can pick up a great home at a
nice discount. Generally speaking, short-sale homes are
in better condition than your average foreclosure.

Foreclosures have usually sat vacant for many months.
They may have been vandalized too. However, the short-sale
process can be frustrating. The bank can take a long time
to make a decision. And many times, the bank will ask for
more money from the buyer, seller, or both to make the deal
work. However, it will all be worth it in the end when
you get a home at 10% to 20% below market value.

Benefits for a Lender:

Although a lender would rather not accept less than what
they are owed, a short-sale beats a foreclosure any day.
Today’s unsold short-sales are tomorrow’s foreclosures.

The lender knows that if the property goes to foreclosure,
they will have to sell the property at a steeper discount
when they put it back on the market. Also, the time value
of money is important. Every month that a lender holds
a property in its portfolio, they are losing money.

2011 Sales Analysis for Short-sales in Bronzeville Chicago

We can gain a better understanding of short-sales by analyzing
transactions that successfully closed. I did a custom data analysis
of the Bronzeville neighborhood in Chicago, Illinois for 2011.

According to the MRED MLS system, there were 59 short-sale transactions
for the 12 month period ending 12/25/2011. That is an average of five
closed short-sale transactions per month! This number will probably increase in 2012.

Here are a few things that jump out at me:

* Most of the short-sales are happening with Bronzeville condos.
I expect this trend to continue.

* The biggest discounts are being realized with Single Family Homes.

* The amount of time it takes to get the short-sale approved is pretty
consistent across all property types. It takes about 3 months for
the bank to approve the average short sale. And this is AFTER a
written offer has been submitted by a qualified buyer.

If you would like a FREE evaluation of your specific situation,
please contact me. I have experience with short-sales,
and I have helped distressed homeowners avoid foreclosure.

———————————————————————–

Until the next time,

Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

The city council is the legislative branch of the Chicago
government. The city council is made up of 50 elected aldermen.
The city is divided into 50 sections which are called wards.
There is talk that the city may remap some of the wards.
It will be interesting to see how that all plays out.

Aldermen are elected every four years. The city council votes
on proposed loans, grants, land aquisitions and zoning changes.

Each alderman has a downtown office in City Hall.
They also have an office in the ward that they represent.
A list of each alderman’s neighborhood office is shown below.
Hopefully, you will find this information useful.

CHICAGO ALDERMAN DIRECTORY

================================================
WARD 1 (Logan Square)

Alderman Joe Moreno
2058 N. Western Avenue
Chicago, IL 60647
ward01@cityofchicago.org
Phone: 773.278.0101
Fax: 773.278.2541
================================================
WARD 2 (Loop)

Alderman Robert Fioretti
1319 S. State St., Suite A
Chicago, IL 60605
ward02@cityofchicago.org
Phone: 312.263.9273
Fax: 312.786.1736

====================================================
WARD 3 (Bronzeville)
Alderman Pat Dowell
5046 S. State St.
Chicago, IL 60609
ward03@cityofchicago.org
Phone: 773.373.9273

====================================================
WARD 4 (Bronzeville, Kenwood, Hyde Park)

Alderman William Burns
435 E. 35th Street
Chicago, IL 60616
ward04@cityofchicago.org
Phone: 773.536.8103
Fax: 773.536.7296
=====================================================
WARD 5 (South Shore)
Alderman Leslie A. Hairston
2325 E. 71st Street
Chicago, IL 60649
LHairston@cityofchicago.org
Phone: 773.324.5555
Fax: 773.324.1585
=====================================================
WARD 6 (Greater Grand Crossing)

Alderman Roderick Sawyer
463 E. 83rd Street
Chicago, IL 60619
Phone: 773.635.0006
======================================================
WARD 7 (South Shore, South Chicago, South Deering)

Alderman Sandi Jackson
7123 S Exchange
Chicago, IL 60649
ward07@cityofchicago.org
Phone: 773.375.9180
======================================================
WARD 8 (Chatham)

Alderman Michelle A. Harris
8539 S. Cottage Grove Ave.
Chicago, IL 60619
Ward08@cityofchicago.org
Phone: 773.874.3300
Fax: 773.224.2425
======================================================
WARD 9 (Roseland)

Alderman Anthony Beale
34 East 112th Place
Chicago, IL 60628
ward09@cityofchicago.org
Phone: 773.785.1100
======================================================
WARD 10 (East Side)

Alderman John Pope
3522 E. 106th Street
Chicago, IL 60617
ward10@cityofchicago.org
Phone: 773.721.1999
Fax: 773.721.5945
======================================================
WARD 11 (Bridgeport)

Alderman James A. Balcer
3659 S. Halsted St.
Chicago, IL 60609
james.balcer@cityofchicago.org
Phone: 773.254.6677
Fax: 773.254.8776
======================================================
WARD 12 (Brighton Park)

Alderman George A. Cardenas
2458 W. 38th Street
Chicago, IL 60632
ward12@cityofchicago.org
Phone: 773.523.8250
Fax: 773.523.8440
======================================================
WARD 13 (West Lawn)

Alderman Marty Quinn
6500 S. Pulaski Rd.
Chicago, IL 60629
Phone: 773-581-8000
======================================================
WARD 14 (Gage Park)

Alderman Edward M. Burke
2650 W. 51st Street
Chicago, IL 60632
eburke@cityofchicago.org
Phone: 773.471.1414
======================================================
WARD 15 (Marquette Park)

Alderman Toni Foulkes
3045 W. 63rd Street
Chicago, IL 60629
Phone: 773.863.0220
Fax: 773.863.0260
======================================================
WARD 16 (Gage Park)

Alderman JoAnn Thompson
5335 South Western Boulevard
Chicago, IL 60609

Phone: 773.434.3399
Fax: 773.434.3889
======================================================
Ward 17 (Auburn Gresham)

Alderman Latasha R. Thomas
7811 S. Racine Ave.
Chicago, IL 60620

ward17@cityofchicago.org

Phone: 773.723.0908
Fax: 773.723.1156
======================================================
Ward 18 (Ashburn)

Alderman Lona Lane
8108 S. Western
Chicago, IL 60652
Phone: 773.471.1991
Fax: 773.471.2227
======================================================
Ward 19 (Beverly)

Alderman Matthew O’Shea
10400 S. Western Ave.
Chicago, IL 60643
Phone: 773.238.8766
=======================================================
Ward 20 (Woodlawn)

Alderman Willie Cochran
6357 S. Cottage Grove
Chicago, IL 60637
Phone: 773.955.5610
Fax: 773.955.5612
=======================================================
Ward 21 (Washington Heights)

Alderman Howard Brookins Jr.
9011 S. Ashland, Unit B
Chicago, IL 60620
ward21@cityofchicago.org
Phone: 773.881.9300
Fax: 773.881.9383
======================================================
Ward 22 (Little Village)

Alderman Ricardo Munoz
2500 S. St Louis
Chicago, IL 60623
Ward22@cityofchicago.org
Phone: 773.762.1771
Fax: 773.762.1825
======================================================
Ward 23 (Garfield Ridge)

Alderman Michael R. Zalewski
6247 S. Archer Ave.
Chicago, IL 60638
mzalewski@cityofchicago.org
Phone: 773.582.4444
Fax: 773.582.3332
======================================================
Ward 24 (North Lawndale)

Alderman Michael Chandler
1158 S. Keeler
Chicago, IL 60624
Phone: 773-533-2400
======================================================
Ward 25 (Heart of Chicago)

Alderman Daniel S. Solis
2439 S. Oakley Blvd
Chicago, IL 60608
daniel.solis@cityofchicago.org
Phone: 773.523.4100
Fax: 773.523.9900
======================================================
Ward 26 (Humboldt Park)

Alderman Roberto Maldonado
2434 W. Division Street
Chicago, IL 60622
Phone: 773.395.0143
Fax: 773.395.0146
======================================================
Ward 27 (West Town)

Alderman Walter Burnett, Jr.
1463 W. Chicago Ave.
Chicago, IL 60622
wburnett@cityofchicago.org
Phone: 312.432.1995
Fax: 312.432.1049
======================================================
Ward 28 (Garfield Park)

Alderman Jason Ervin
259 N. Pulaski
Chicago, IL 60624
Phone: 773.533.0900
=======================================================
Ward 29 (Austin)

Alderman Deborah Graham
5755 West Division Street
Chicago, IL 60651
Ward29@cityofchicago.org
Phone: 773.261.4646
Fax: 773.261.8687
========================================================
Ward 30 (Irving Park)

Alderman Ariel E. Reboyras
3348 N. Milwaukee Ave.
Chicago, IL 60641
ward30@cityofchicago.org
Phone: 773.794.3095
Fax: 773.794.8576
=========================================================
Ward 31 (Hermosa)

Alderman Ray Suarez
4502 W. Fullerton Ave.
Chicago, IL 60639
rsuarez@cityofchicago.org
Phone: 773.486.6488
==========================================================
Ward 32

Alderman Scott Waguespack
2657 N. Clybourn
Chicago, IL 60614
ward32@cityofchicago.org
Phone: 773.248.1330
Fax: 773.248.1360
===========================================================
Ward 33

Alderman Richard F. Mell
3649 N. Kedzie Ave
Chicago, IL 60618
rmell@cityofchicago.org
Phone: 773.478.8040
Fax: 773.478.8006
============================================================
Ward 34 (Roseland)

Alderman Carrie M. Austin
507 W. 111th St
Chicago, IL 60628
ward34@cityofchicago.org
Phone: 773.928.6961
============================================================
Ward 35 (Logan Square)

Alderman Rey Colón
2710 N. Sawyer Ave.
Chicago, IL 60647
ward35@cityofchicago.org
Phone: 773.365.3535
Fax: 773.365.7391
============================================================
Ward 36 (Montclare)

Alderman Nicholas Sposato
6934 W. Diversey
Chicago, IL 60607
Phone: 773.836.0036
============================================================
Ward 37 (Austin)

Alderman Emma Mitts
5344 W. North Ave.
Chicago, IL 60639
emitts@cityofchicago.org
Phone: 773.745.2894
Fax: 773.745.3749
============================================================
Ward 38 (Portage Park)

Timothy M. Cullerton
5817 W. Irving Park Rd.
Chicago, IL 60634
ward38@cityofchicago.org
Phone: 773.545.3838
Fax: 773.283.3343
============================================================
Ward 39 (Albany Park)

Alderman Margaret Laurino
4404 West Lawrence Avenue
Chicago, IL 60630
Phone: 773.736.5594
Fax: 773.736.2333
============================================================
Ward 40 (West Ridge)

Alderman Patrick J. O’Connor
5850 N. Lincoln Ave.
Chicago, IL 60659
ward40@cityofchicago.org
Phone: 773.769.1140
Fax: 773.769.3804
============================================================
Ward 41 (Edison Park)
Alderman Mary O’Connor
6107 N. Northwest Highway
Chicago, IL 60631
Phone: 773.594.8341
============================================================
Ward 42 (River North)

Alderman Brendan Reilly
325 W. Huron St.
Suite 510
Chicago, IL 60654
office@ward42chicago.com
Phone: 312.642.4242
Fax: 312.642.0420
============================================================
Ward 43 (Lincoln Park)

Alderman Michele Smith
2523 North Halsted St.
Chicago, IL 60614
Phone: 773.348.9500
Fax: 773.348.9594
============================================================
Ward 44 (Lakeview)

Alderman Thomas M. Tunney
1057 W. Belmont Ave.
Chicago, IL 60657
ward44@cityofchicago.org
Phone: 773.525.6034
Fax: 773.525.5058
=============================================================
Ward 45 (Jefferson Park)

Alderman John Arena
4754 N. Milwaukee Ave.
Chicago, IL 60630
Phone: 773.286.4545
=============================================================
Ward 46 (Uptown)

Alderman James Cappleman
4544 N. Broadway
Chicago, IL 60640
Phone: 773.878.4646
=============================================================
Ward 47

Alderman Ameya Pawar (North Center)
4243 N. Lincoln Avenue
Chicago, IL 60618
info@chicago47.org
Phone: 773.868.4747
Fax: 773.549.4757
=============================================================
Ward 48

Alderman Harry Osterman (Edgewater)
5533 N. Broadway Ave.
Chicago, IL 60640
Phone: 773.784.5277
=============================================================
Ward 49 (Rogers Park)

Alderman Joe Moore
7356 N. Greenview Ave.
Chicago, IL 60626
ward49@cityofchicago.org
Phone: 773.338.5796
=============================================================
Ward 50 (Rogers Park)

Alderman Debra Silverstein
2949 W. Devon Ave.
Chicago, IL 60659
Phone: 773.262.1050
=============================================================

For more information, please visit the city of Chicago website:

http://www.cityofchicago.org/city/en/about/council.html

Until the next time,

Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY