If you've been renting for years, nervous about buying a home because of what happened to the economy, it's time to reconsider. The real estate market has recovered and is on the upswing. In some cities in America, such as Phoenix and Las Vegas, the rebound has fully recovered to pre-recession prices.
In the Chicago area, Midwest Real Estate Data, the "MLS" for Chicago-area Realtors, now reports that the number of homes sold, total amount of sales, and percentage increase in home values is now the best since 2007.
Home prices are climbing in the Chicago area, don't wait too long to look into options for buying -- such as locking in today's sales price with a Rent to Own contract. Call Adam at 630-697-4500 to find your new home!
LISLE, Ill., Oct. 22, 2013 (GLOBE NEWSWIRE) -- Midwest Real Estate Data (MRED), Chicagoland's multiple listing service (MLS), reported today that in both dollar volume and total transactions, 2013 is already the best calendar year in area real estate since 2007.
To date MRED sold real estate volume for 2013 totals over $24 billion resulting from nearly 103,000 closed transactions, surpassing all of 2012. MRED has not seen dollar or transaction volumes like this since 2007.
Chicago and the surrounding nine counties have experienced double-digit percentage gains from a year ago. The Chicagoland area has seen eight months of year-over year sales and median price gains. All indicators point in the same direction: a strong housing market.
"This confirms what we all already had a good sense of -- real estate is back," said MRED CEO Russ Bergeron. "The numbers don't lie. Not only are Realtors(R) busier than they've been in years, sellers are benefiting from the hotter market with increased home values. Assuming nothing takes our economy wildly off track, I see nothing but a very positive future for those in the real estate industry and those who own real estate."
Wednesday, October 30, 2013
Tuesday, October 22, 2013
Michael Jordan's 56,000 Square Foot Home Set For Auction November 22nd
HIGHLAND PARK, Ill., Oct. 19, 2013 /PRNewswire/ -- New York-based Concierge Auctions is pleased to announce the November 22nd live auction of Michael Jordan's nearly 20-year residence in the chic Chicago suburb of Highland Park. The 56,000-square-foot estate, known as Legend Point, occupies 7.39 acres and is complete with a regulation-size NBA-quality basketball court, pool pavilion, tennis court, putting green, 9 bedrooms and 15 full and four half bathrooms. Previously offered for $29 million, Legend Point will be sold in cooperation with Katherine Chez Malkin of Baird and Warner Real Estate.
Click for photo tour.
"I have so many amazing, happy memories of my life in the house over the years," Jordan stated. "It's where my kids grew up. It's where I lived during my championship years. I still have business interests in Chicago, including my restaurants, and Chicago will always have a piece of my heart. It's a special place with incredible people, who embraced me from the day I arrived. But my kids are grown now and I don't need a large house there anymore."
"This home is so much more than most people imagine. Once you are behind the gate, the location affords complete privacy. The landscaping and positioning of the estate keep it from feeling overwhelming. The home, most of which was remodeled in 2011, is perfectly maintained, and obviously has all the bells and whistles, but is still very friendly," stated Malkin. "The main living areas are connected to the guest house and the pool and basketball pavilions, but if you weren't going to those areas, you need not pass through this square footage to be where you would typically spend most of your time. I am thrilled that Concierge Auctions is involved in this sale process. It seems like the most rational decision a business person could make. It compresses market time, brings forward interested buyers and affects a sale in the most professional way possible."
The home's family area is expansive and light-filled, featuring floor-to-ceiling windows, plush carpeting, a built-in aquarium and a fireplace. Likewise, the soaring two-story living room showcases the dramatic outdoor landscaping in its series of ten floor-to-ceiling windows. The property includes nine bedrooms, with six located in the primary residence. All include spacious closets and en suite bathrooms.
The contemporary main kitchen is a masterpiece of both design and functionality and includes a ventilated island food prep area with gas Gaggenau cooktop, double convection ovens, a combination steam oven and two dishwashers.
On the lower level of the primary residence, the home boasts an impressive card and cigar room with a custom-built, walk-in humidor, a 500+ bottle wine cellar, wine tasting room, sitting room and a fully-equipped, in-house beauty salon.
In 2001, a full-size, regulation basketball court was built to Jordan's exacting specifications. It features specially cushioned hardwood flooring, adjustable backstops and baskets and competition-quality, high-intensity lighting. The court also includes a custom sound system with speakers expressly tuned for the court space. Adjacent to the basketball court are locker rooms and showers, as well as a circular lounge with comfort table leather chairs and a built-in HDTV.
The home also includes a pool pavilion, built in 2009, that links the primary residence with the guest wing. The design features a retractable electric canopy that, with the touch of a button, can transform the enclosed room to an extraordinary indoor/outdoor experience. Located directly off the pool pavilion, the three-bedroom guest wing offers a gourmet kitchen, en suite bathrooms and built-in furnishings.
Located 23 miles north of Chicago with easy access to the city, Highland Park boasts some of the region's most beautiful and exclusive homes. Here, residents enjoy small town comforts with big city advantages, with a strong emphasis on recreation and culture. The Chicago Symphony summers in Highland Park every year, and the city plays host to the well-known Ravinia Festival, an open-air concert series during the summer. With lakefront parks and beaches on Lake Michigan, Highland Park has plenty of outdoor activities to keep residents busy, and its bustling downtown shopping district is a strong indicator of the vibrancy of this community.
"Many of the world's most desirable items are sold at auction, and Concierge Auctions is the hands down leader when it comes to auctioning one-of-a-kind real estate," added Jordan. "By working with them, I know that on November 22nd, the day of the auction, my house will have been seen by a worldwide audience, and I'll have a sale with a closing in 30 days."
"Mr. Jordan hired us because he understands the benefits of the auction process for selling incomparable assets. The value of Legend Point not only lies in its history as his long-time residence but also in every unique facet of the property — the quality of design, extensive amenities and sheer size of the estate," stated Laura Brady, President of Concierge Auctions. "While there is no pre-set minimum or reserve, buyers will have the ability to submit opening bids with their registrations. The ultimate selling price will simply be determined by the bidders on auction day."
The auction of 2700 Point Lane in Highland Park, Illinois will be held on November 22nd. A 2.25% commission is offered to the buyer's representing broker. The property will be open for qualified showings by appointment. See Auction Terms and Conditions for full details. For more information visit ConciergeAuctions.com, call 877.762.9436, or join the social discussion at #MJAuction.
About Concierge Auctions: Concierge Auctions is the preeminent luxury real estate auction firm serving high-net-worth sellers nationwide through an accelerated marketing process that obtains fair market value for unique, high-end properties in a 60-day timeframe. The company has executed auctions in 25 U.S. states from New York to Hawaii, typically valued between $2.5 million and $20 million, and hosts a database that includes more than 100,000 luxury real estate buyers and agents from all U.S. states and 109 countries and territories. The principals of Concierge Auctions have been involved in the transfer of more than $2 billion in luxury properties over the past 10 years. The firm has sold over $400 million in properties since its founding in 2008. For more information, call 888-966-4759 or visit ConciergeAuctions.com.
This property is listed for sale by Baird and Warner (Lic#477.010810), 737 N. Michigan, Ste 1800, Chicago, IL 60611
Click for photo tour.
"I have so many amazing, happy memories of my life in the house over the years," Jordan stated. "It's where my kids grew up. It's where I lived during my championship years. I still have business interests in Chicago, including my restaurants, and Chicago will always have a piece of my heart. It's a special place with incredible people, who embraced me from the day I arrived. But my kids are grown now and I don't need a large house there anymore."
"This home is so much more than most people imagine. Once you are behind the gate, the location affords complete privacy. The landscaping and positioning of the estate keep it from feeling overwhelming. The home, most of which was remodeled in 2011, is perfectly maintained, and obviously has all the bells and whistles, but is still very friendly," stated Malkin. "The main living areas are connected to the guest house and the pool and basketball pavilions, but if you weren't going to those areas, you need not pass through this square footage to be where you would typically spend most of your time. I am thrilled that Concierge Auctions is involved in this sale process. It seems like the most rational decision a business person could make. It compresses market time, brings forward interested buyers and affects a sale in the most professional way possible."
The home's family area is expansive and light-filled, featuring floor-to-ceiling windows, plush carpeting, a built-in aquarium and a fireplace. Likewise, the soaring two-story living room showcases the dramatic outdoor landscaping in its series of ten floor-to-ceiling windows. The property includes nine bedrooms, with six located in the primary residence. All include spacious closets and en suite bathrooms.
The contemporary main kitchen is a masterpiece of both design and functionality and includes a ventilated island food prep area with gas Gaggenau cooktop, double convection ovens, a combination steam oven and two dishwashers.
On the lower level of the primary residence, the home boasts an impressive card and cigar room with a custom-built, walk-in humidor, a 500+ bottle wine cellar, wine tasting room, sitting room and a fully-equipped, in-house beauty salon.
In 2001, a full-size, regulation basketball court was built to Jordan's exacting specifications. It features specially cushioned hardwood flooring, adjustable backstops and baskets and competition-quality, high-intensity lighting. The court also includes a custom sound system with speakers expressly tuned for the court space. Adjacent to the basketball court are locker rooms and showers, as well as a circular lounge with comfort table leather chairs and a built-in HDTV.
The home also includes a pool pavilion, built in 2009, that links the primary residence with the guest wing. The design features a retractable electric canopy that, with the touch of a button, can transform the enclosed room to an extraordinary indoor/outdoor experience. Located directly off the pool pavilion, the three-bedroom guest wing offers a gourmet kitchen, en suite bathrooms and built-in furnishings.
Located 23 miles north of Chicago with easy access to the city, Highland Park boasts some of the region's most beautiful and exclusive homes. Here, residents enjoy small town comforts with big city advantages, with a strong emphasis on recreation and culture. The Chicago Symphony summers in Highland Park every year, and the city plays host to the well-known Ravinia Festival, an open-air concert series during the summer. With lakefront parks and beaches on Lake Michigan, Highland Park has plenty of outdoor activities to keep residents busy, and its bustling downtown shopping district is a strong indicator of the vibrancy of this community.
"Many of the world's most desirable items are sold at auction, and Concierge Auctions is the hands down leader when it comes to auctioning one-of-a-kind real estate," added Jordan. "By working with them, I know that on November 22nd, the day of the auction, my house will have been seen by a worldwide audience, and I'll have a sale with a closing in 30 days."
"Mr. Jordan hired us because he understands the benefits of the auction process for selling incomparable assets. The value of Legend Point not only lies in its history as his long-time residence but also in every unique facet of the property — the quality of design, extensive amenities and sheer size of the estate," stated Laura Brady, President of Concierge Auctions. "While there is no pre-set minimum or reserve, buyers will have the ability to submit opening bids with their registrations. The ultimate selling price will simply be determined by the bidders on auction day."
The auction of 2700 Point Lane in Highland Park, Illinois will be held on November 22nd. A 2.25% commission is offered to the buyer's representing broker. The property will be open for qualified showings by appointment. See Auction Terms and Conditions for full details. For more information visit ConciergeAuctions.com, call 877.762.9436, or join the social discussion at #MJAuction.
About Concierge Auctions: Concierge Auctions is the preeminent luxury real estate auction firm serving high-net-worth sellers nationwide through an accelerated marketing process that obtains fair market value for unique, high-end properties in a 60-day timeframe. The company has executed auctions in 25 U.S. states from New York to Hawaii, typically valued between $2.5 million and $20 million, and hosts a database that includes more than 100,000 luxury real estate buyers and agents from all U.S. states and 109 countries and territories. The principals of Concierge Auctions have been involved in the transfer of more than $2 billion in luxury properties over the past 10 years. The firm has sold over $400 million in properties since its founding in 2008. For more information, call 888-966-4759 or visit ConciergeAuctions.com.
This property is listed for sale by Baird and Warner (Lic#477.010810), 737 N. Michigan, Ste 1800, Chicago, IL 60611
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