Here is some of how we think an EFFECTIVE property search works.  Further thoughts will follow in other postings. 4a.  Establish realistic cash-flow expectations. Remember, unless you put a huge amount down, the PRE-TAX CASH FLOW is never large on a 2- to 4-flat. Probably the TAX SHELTER will please you more (your tax advisor can help you understand exactly what's involved). But even the post-tax net may not be that large. For most investors, it's the third factor - PRICE APPRECIATION versus the small amount invested - that ‘seals the deal.' Visit our website to read more about Chicago multi-family homes: multi-units with two or more flats.  http://www.chicagoland2to4flats.info/ 07/17/2008

51st Annual Venetian Night Saturday, July 26, 2008 7:45pm - Dramatic re-enactment of air/sea rescue 8:25pm - Lima Lima (out of Naperville) flyover 8:30pm - Boat Parade 9:30pm - Fireworks Approximately 35 boats will be decorated with lights and props as they sail along beautiful Lake Michigan, between the Shedd Aquarium at Roosevelt Road and the Chicago Yacht Club at Monroe Street. People of all ages stake out spots along the lakefront as early as 9 a.m. to ensure a good view of the event. With an expected attendance of 675,000, public transportation, walking or biking to Venetian Night is suggested. Venetian Night is the longest running event that the City of Chicago produces, and was once a multiple day event that featured a beauty pageant and parade on State Street in addition to the ... 07/17/2008

    Whether you're a first time Buyer or not the value of a good home inspection is important not only for your confidence in the purchase you're about to make but could save you alot of money and frustration down the road. It is important to have as much knowledge as possible about the property you are about to invest your life into and be aware of any problems that may come up in the future. A few things you want to be certain of are: > The Property Inspector is a certified licensed inspector with the State in which the purchase is taking place. > Your inspector will provide you with a full report for your self & your Attorney. > The timeframe you have to raise any issues with the Seller from the home inspection. It's probably best if you have a list of questions or particular concern... 07/16/2008

South Shore is a true diamond in the ruff. To the North residence have the pleasure of living on a golf course which is open to the public. To the east one enjoys the spectacular views of Lake Michigan. On a breezy summer evening you can find me and my children at the 63rd Street Beach where we dance the night away to some of Chicago's best bongo players. Throughout the years we have attended many events at the South Shore Country Club which has its own golf course , beach, and ballrooms.   Numerous buildings in South Shore are over sized with stocked full of vintage charm. Active Listings List Price Range # Listings Avg. Days on Mkt Less than $149,999 23 159 $150,000 - $199,999 16 188 $200,000 - $249,999 23 134 $250,000 - $299,999 27 249 $300,000 - $349,999 11 180 $350,000 - $399,999 6... 07/16/2008

Invest in a 1-4 unit building in Woodlawn and with your rental income your male children can attand the prestigious Mt. Carmel High School. Mt. Carmel is a private, Catholic college preparatory high school whose mission is to develop young men of character who love God, love life, and love learning, www.mchs.org. Active Listings List Price Range # Listings Avg. Days on Mkt Less than $149,999 35 204 $150,000 - $199,999 18 139 $200,000 - $249,999 17 260 $250,000 - $299,999 20 206 $300,000 - $349,999 10 108 $350,000 - $399,999 12 110 $400,000 - $449,999 3 190 $450,000 - $499,999 1 334    Active Listings Summary # Units Avg. MT Median List Price Avg. List Price Max. List Price Min. List Price Total Volume 116 185 $218,750 $220,329 $469,900 $37,900 $25,558,179 Email me to set up your very ow... 07/16/2008

Question: Can a one bedroom condo in the Chicago South Loop be a good investment!    Scovell+Sabatini answered: The South Loop remains one of the hottest real estate markets in the Nation according to the Chicago Magazine. Although inventory has been on the rise with significant new product entering the market in 09' and 10', the highest percentage of sales and pending contracts can be found in the Loop/ South Loop area as compared to the rest of the city. The South Loop provides amenities such as the Museum Campus, Soldier Field, Grant Park, Northerly Island, and Lake Michigan. It's proximity to the Loop, with its banking, legal and financial service industry coupled with Millennium Park, the Art Institute, Orchestra Hall and numerous cultural sites and extensive public transportation... 07/16/2008

Here is some of how we think an EFFECTIVE property search works.  Further thoughts will follow in other postings. 3h.  In addition, we would point out that, especially if you choose 100% financing, you may be investing very little of your own cash into this purchase. The funds you might have invested are now available to help you take care of the building. And we can even help you get up to a 2% seller credit at closing to help you have the funds you need to manage the whole transaction. Visit our website to read more about Chicago multi-family homes: multi-units with two or more flats.  http://www.chicagoland2to4flats.info/ 07/16/2008

It has been two months since I decided to augment my means of transportation with the almighty CTA(Chicago Transit Authority). I almost died at the pump when my account was debited $83.05. But, if you have the pleasure of living in the heart of Bronzeville there is ample transportation in walking distance. Since implementing my new strategy I have masterminded taking the train to O'hare, Midway, Lakeview, Loop, and North Michigan Avenue. I save on average $15 bucks per day (this includes parking). I feel great because I get in some needed exercise, I'm saving money (to only buy groceries), I feel green, and I now have the pleasure to see numerous properties up close and personal. The hike in gas brings about creativity to save and I now enjoy my savings plan because I return calls and t... 07/15/2008

Active Listings List Price Range # Listings Avg. Days on Mkt Less than $149,999 38 162 $150,000 - $199,999 49 201 $200,000 - $249,999 51 170 $250,000 - $299,999 46 172 $300,000 - $349,999 29 171 $350,000 - $399,999 20 207 $400,000 - $449,999 10 193 $450,000 - $499,999 10 148 $500,000 - $549,999 5 127 $550,000 - $599,999 7 192 $600,000 - $699,999 9 196 $700,000 - $799,999 2 353 $800,000 - $899,999 2 115 $900,000 - $999,999 1 61 $1,000,000 - $1,999,999 2 418    Active Listings Summary # Units Avg. MT Median List Price Avg. List Price Max. List Price Min. List Price Total Volume 281 180 $254,900 $294,786 $1,250,000 $24,500 $82,834,871    Sold Properties Sold Price Range # Listings Avg. Days on Mkt Less than $149,999 201 113 $150,000 - $199,999 225 124 $200,000 - $249,999 243 116 $250,000 ... 07/15/2008

Here is some of how we think an EFFECTIVE property search works.  Further thoughts will follow in other postings. 3g.  Does this seem daunting? We can offer this hope: most investors view the first loan they take out as a temporary loan. That is, their intent is to refinance the property in as short as one year so as to let the building pay for its own updating. Visit our website to read more about Chicago multi-family homes: multi-units with two or more flats.  http://www.chicagoland2to4flats.info/ 07/15/2008

Washington Park Washington Park's 372 acres stretch west from Cottage Grove Avenue between 51st and 60th Streets. In 1870 noted landscape designers Frederick Law Olmsted and Calvert Vaux centered their prairie-based design on a 100-acre greensward called the South Open Green. Surrounding the green were curvilinear walking trails, trees, and shrubs to create an element of the picturesque within the park. The designers also planned more formal spaces, including a bandstand and refectory, a promenade, carriage roads, and gathering spots for picnics. The Encyclopedia of Chicago         Properties Properties are selling in Washington Park  Under Contract List Price Range # Listings Avg. Days on Mkt Less than $149,999 14 125 $150,000 - $199,999 2 109 $200,000 - $249,999 5 132 $250,000 - $299... 07/15/2008

These new zip code changes are important to note if you have any property alerts set up by zip code.  If you don't update your search criteria, you could miss out on whole neighborhoods for which you were previously getting information.  Starting July 1, 2008, 13,200 homes in 60622 and 60610 got new zip codes reassigned to them.  In 60610 (Old Town/Loop area), people living on West Chicago Ave and south of there will now be 60654.  And in 60622 (Wicker Park/Ukrainian Village/East Village area), those living east of Ashland Ave will now be 60642 (occasionally referred to as Noble Square).  Postal Service officials attribute the need for new ZIP codes to the "dramatic growth in Fort Dearborn and Wicker Park," which has exhausted ZIP code combinations.  I personally live in the affected 60... 07/14/2008

Here is some of how we think an EFFECTIVE property search works.  Further thoughts will follow in other postings. 3f.  Here is the last of a chart of typical costs (add the numbers and you'll find 50K on the light end, 100K in the middle, 150K at the high end): And then there is the PORCH.' Virtually NO porch built before 2007 meets the new code-and there is no grandfather provision. The city can't ask EVERYONE to rebuild their porches-but they will be asking some to! Visit our website to read more about Chicago multi-family homes: multi-units with two or more flats.  http://www.chicagoland2to4flats.info/ 07/14/2008

Grill Tips for Your Backyard Barbeque   With summer in full swing, the time is just right to head out of the kitchen and into the backyard for a little cooking al fresco. Whether a quiet evening at home with the family or a full-fledged block party, there's nothing quite like a meal freshly cooked and hot of the grill. Here are some grilling tips for novices and summer pros alike! The All Important Grill Gas vs. Charcoal: This one can spark heated debates between even the closest of friends. Gas cooks at an even temperature, is easy to use, and requires little clean up. Propane/gas grills are also healthier than charcoal grills (charcoal-grilled meats contain more carcinogens).Charcoal is generally considered better for smoking and searing food, and many prefer the taste of food cooked ... 07/13/2008

 - CHICAGO SHORT SALES -  Illinois Premiere Pre Foreclosure Listing Service      www.ChicagoShortSalePro.com      TEL 773-987-8224 There is No Charge to property sellers for any of our Short Sale service! FREE CHICAGO SHORT SALE SERVICE, ILLINOIS SHORT SALE REAL ESTATE LISTINGS, FREE PRE FORECLOSURE REPRESENTATION FOR PROPERTY SELLERS IN CHICAGO & SUBURBS - NORTHERN ILLINOIS. Behind on mortgage payments? www.Chicago-IL-Short-Sale-Foreclosure.com/ShortSale Do you owe more than the property's worth? www.Chicago-IL-Short-Sale-Foreclosure.com/ShortSale Forced to sell or just want to get out? www.Chicago-IL-Short-Sale-Foreclosure.com/ShortSale Want to legally walk away from your property and avoid foreclosure? www.Chicago-IL-Short-Sale-Foreclosure.com/ShortSale Don't Pay a dime to anyone! Ou... 07/13/2008

Jackson stood at the side of the bed this morning with one though on his mind. "Candy," he uttered proudly and with a broad grin. The way he said it, with a lengthened first syllable that sounded more like a nasally "Ken" followed by the shortest possible "dee" cracked me up. It's a great way to wake up, laughing. But more than the way he said it was that he said it at all. Witnessing the elemental construction of memory is nothing short of miraculous. You see last night Nicole and I brought Jackson and Lucas to a kids' play date hosted by my brokerage, @ properties chicago. And aside from the fun and frolicking along with pretzel and pizza nibbling that took place at the bubbles academy in Lincoln Park was a gift bag chock full of more sugar than makes sense for a small nation to consu... 07/12/2008

Here is some of how we think an EFFECTIVE property search works.  Further thoughts will follow in other postings. 3e.  Here is more of a chart of typical costs (add the numbers and you'll find 50K on the light end, 100K in the middle, 150K at the high end):   Visit our website to read more about Chicago multi-family homes: multi-units with two or more flats.  http://www.chicagoland2to4flats.info/ 07/12/2008

QUESTION:When a property under appraises what the heck do we do!? The bank insists that the seller will have to reduce their price to the appraisal amount and the seller insists we put more money down! ANSWER:You should consult with your attorney immediately! Your contract to purchase should have a mortgage contingency clause with a time limitation. You must properly notify the seller that you have taken reasonable efforts to obtain financing within the parameters of the contract but have been unable to qualify. You should demand the return of your earnest money at this time and declare the contract terminated. Review the contract mortgage contingency clause to determine whether you have given the seller the right to obtain financing for you as an alternative. Contact Fred Scovell of th... 07/11/2008

    Residents of North Lawndale Community Area sometimes refer to the western part of their neighborhood as "K-Town" because so many street names there begin with the letter K. For several miles west of Pulaski Road there are stretches of north-south streets all starting with the same letter. This naming practice arose because of the annexations of 1889, which brought approximately 133 square miles and many duplicate street names within Chicago's boundaries. John D. Riley, superintendent of the city's Bureau of Maps, prepared a plan in which each mile west of the Indiana-Illinois border was assigned a successive letter of the alphabet, starting with A; streets within each mile were to begin with that letter. The city council rejected the proposal for the eastern sections of the city, bu... 07/11/2008

Here is some of how we think an EFFECTIVE property search works.  Further thoughts will follow in other postings. 3d.  Here is more of a chart of typical costs (add the numbers and you'll find 50K on the light end, 100K in the middle, 150K at the high end):   Visit our website to read more about Chicago multi-family homes: multi-units with two or more flats. 07/11/2008