Chicago Relocation
 

Michael Jordan’s Home Listed for $29MM

February 29, 2012

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John D’Ambrogio

As reported in the Wall Street Journal this morning, “Michael Jordan has put his longtime home in Highland Park, Ill., on the market for $29 million, according to the company marketing the listing, Luxury Portfolio International.”

Check out the stats:

NINE  bedrooms

more than FIFTEEN  bathrooms and

FIVE fireplaces.

The famous MJ  led the Chicago Bulls to six NBA Championship titles, has “23″—his jersey number—engraved on the gates of the property.

Katherine Chez Malkin of Baird & Warner has the listing.  At $29MM, it is believed to be the most expensive property ever listed in the State of Illinois, or the midwest for that matter.

 

 

 

Mell Monroe Promotes his neighborhood – Bronzeville, Chicago

February 27, 2012

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John D’Ambrogio
 The trib recently published an article in their business section by Mell Monroe -  a Bronzeville resident and owner of the Welcome Inn Manor, a bed-and-breakfast on S. Michigan Avenue.  His passion for Chicago so intrigued me I gave him a call.  I’m happy to say that his excitement for, and commitment to Chicago’s south side is incredible.  I’ve asked him, and he has agreed to, share some thoughts in upcoming blogs.
As he points out in the article, while Chicago is the No. 2 tourist destination worldwide, and although Chicago ranks in the Top ten for attracting global travelers with money to spend – “Where I live and work, this kind of consumer is a far and few in between. I set up my business in a black community on the South Side, which sees little of the $11 billion these tourists spend. “
The article then discusses Mayor Rahm Emanuel’s recent announcement that $2 million into marketing Chicago to increase tourism & boost revenue by 50 percent by the end of the decade. This translates to at least $15 billion in tourism revenue for the city of Chicago, precious little of which will make it to the city’s 30-plus black neighborhoods and their entrepreneurs, according to Mell.
He also includes a call to action for Chicago residents -   “All we need now is a progressive chamber of commerce and new leadership. No chamber will be successful without powerful business leaders committed to change and growth. We must recruit professionals with extraordinary experiences. Building a team that can work together on funding proposals and addressing crime and loitering as a priority is crucial to good business and a better quality of life.”
You can read the article here , and take a virtual tour of his B & B here.  We look forward to hearing more from Mell!

Mell's "Welcome Inn Manor"

 

Steve Baird Speaks at Crain’s Chicago Business Breakfast

February 22, 2012

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General
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John D’Ambrogio

Crain’s recently held their inagural residential real estate update breakfast.

Hear what Steve Baird, Steven Fifield, Andy Konovodoff and “Buzz Ruttenberg” have to say about the upcoming year by clicking here 

It’ s a lively set of discussions and  Q & A with the point of view of both suburban and city brokers and big residential brokers.  Enjoy a combination of optimism and discussing the “new reality” of the marketplace, the mortgage and credit environment as well as the rental market.

A glimpse inside some of the best minds in Chicagoland real estate.

 

Visit “Luminous Field” in Millennium Park

February 17, 2012

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John D’Ambrogio

Luminous Field in Millennium Park – Looking for something cool to do this weekend??

Hey Chicagoans – Visit Millennium Park and The Bean this month as it is transformed into” a digital canvas of light and geometrical form”  with a cool and funky video/sound installation, courtesy of Chicago artists Luftwerk.

Dubbed “Luminous Field”, it will  illuminate Cloud Gate and its surrounding AT&T Plaza every night from Feb 10-20th – Expect beautiful images & colors choreographed to music by third coast percussion!

Can you dig it?

Photo from Thiscollassal.com

 

Chicagoland State of the Market – Looking toward 2012!

February 16, 2012

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John D’Ambrogio

I’ve had a number of colleagues ask me to put together a “state of the market” report.  Here’s an overview of 2011, and a few ideas for 2012.  Look for more detailed videos on the rental market and foreclosures coming soon.

B&W State of the Market 2011 Review from Baird Warner on Vimeo.

 

I look forward to your comments!

 

John Irwin’s Jan. 2012 State of the Chicago Market Report

February 14, 2012

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John D’Ambrogio

 

Colleague John Irwin’s Chicago Real Estate Notes blog has a great overview of the Chicago market, citing many positive trends.

See the chart below for activity on some of Chicago’s hottest neighborhoods:

Jan-12 Jan-11 % +/-
Unit Sales – Total 267 233 14.6
Lakeview 69 53 30.2
Lincoln Park 53 46 15.2
Near North 111 109 36.0
Loop 34 25 36.0

 

Perhaps an even more positive set of statistics show market time for those same neighborhoods:

Inventory (Months Of Supply) 7.0 14.1 -50.4%
Lakeview 7.0 14.8 -52.5
Lincoln Park 6.9 13.8 -50.1
Near North 7.2 14.4 -50.4
Loop 6.7 12.6 -46.7

John’s source is:  MREDLLC  (Numbers reflect only properties listed in MLS of Northern Illinois).  Great insights, we look forward to more good news.

let's hope this bean helps bring a housing recovery

 Let’s hope this bean represents the seeds of a housing recovery for the windy city!

 

When you wish upon a star

February 7, 2012

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John D’Ambrogio

…makes no difference who you are – a bad real estate market can still affect you.

That seems to be the fate of the childhood home of Walt Disney.  The property, at 2156 N. Tripp in Chicago’s hermosa Park, was the childhood home of the young boy who went on to create “the mouse” and an empire.

Elias Disney, Walt’s dad, built the home in 1893, the same year as the City The Works hosted its own magical kingdom on the south side – The Columbian Exposition (where Elias worked, as a matter of fact).  The property was purchased by its current owners for just under $200k, and is now listed at $179k, a significant drop.  While it may not posses the charm of Cinderella’s castle, I’m surprised that no superfan syndicate has arisen to purchase this shrine to the man how made so many dreams come true.