Ok, just a few thoughts that I want to share about lodging and hotel alternatives in Chicago. Recently, there has been an explosion of available options. You may have heard of AirBnB.com or you may have come across one of the many advertisements placed on the vacation rentals section of Craigslist. It seems as though everyone has a couch or a condo to rent by the night or week. In large part, this has been driven by both the need for alternatives and present market conditions in real estate.

I found it interesting to learn about the impetus behind AirBnB while at a Inman conference in San Francisco. The idea was launched by several guys who literally wanted to see if there was a market for renting an air mattress to area visitors. Well, there was and the site took off from there. Now AirBnB has vacation rentals around the world. Similarly, even a cursory review of Craigslist vacation rentals will reveal hundreds of lodging options from a lowly couch to luxurious condominiums with all the benefits of home away from home.

I must offer a few words of caution to those considering one of these two alternatives. First, know what you are getting. Ask if the party you are renting from is reputable.  Are you turning your money over to a stranger?  What protections do you have? What would you do if you arrive and the property is not available, is not as described, or worse , the whole thing is a scam. Craigslist is replete with those offering multiple ways to help you part with your money. Is the property safe, secure, etc...

In Chicago, as of 2011, vacation rentals must be licensed. Ask for that information before you do business with any rental property owner. And, that goes for AirBnB rentals as well.  Just because they are listed on that site doesn't mean they are licensed.  MANY MANY MANY rental operators are not licensed and by doing business with them you are at risk.

A better alternative is to consider one of Chicago's many Bed & Breakfast options. Chicago licenses all B&Bs and to get this license, the establishment has to undergo a thorough inspection by the buildings depatment and the Chicago Fire Department. Each year the properties are re-inspected. Additionally, reputable B&Bs are members of the Chicago Bed & Breakfast Assciation http://www.chicago-bed-breakfast.com. Check with that group to find links to all Chicago B&Bs.

Chicago has many alternatives to the traditional hotel, but exercise caution in making your choices. Always ask if the benefit of saving a few dollars is woth the risk of a ruined vacation or visit.

Hamilton's Bar & Grill a tradition in Edgewater/Rogers Park announces it is closing. The longtime neighborhood pub located at 6341 N Broadway on the border between Edgewater and Rogers Par was a favorite haunt of many and was a regular among Loyola students and sports fans. Apparently the business had been losing money for some time according to comments from the Alderman's office and the present owners decided it was time to throw in the towel. Speculation that Loyola had purchased the building in order to close the bar was quickly dismissed.

Sad to see it happen. We will miss you!

You may be surprised to learn that there are only five single family homes in all of Andersonville currently on the market for sale. We discovered this dearth of available properties when conducting a search recently for a family looking to relocate from out of state and return to their native Andersonville roots. The fact is, there are simply few homes available. If you are holding off on listing a property for fear of the market, now is the time to act. Buyers are back and they are looking to take advantage of historically low interest rates. The trouble is that they have few available properties to choose from. Putting your house on the market now may be a savvy move to selling!

Here are the homes currently available:

5440 North Ashland Avenue.  Listed at $400,000 and on the market for 11 days.

The MLS description: 
Andersonville brick 2 flat w/finished basement ($700), yard & 2 car garage. Both 2 br/1ba w/sep dining rooms & kitchens w/pantries. Sep. CA/GFA, hardwood floors, some original woodwork, updated kitchens and baths, enclosed back porch, great yard, and 2 car garage. No deferred maintenance here. Seller nor Broker represents legality of basement. Building shows wel!. Bring all offers.

Listing courtesy of Cheryl Swanson – Swanson Realty.

1735 West Rascher Avenue.  Listed at $599,000 and on the market for 213 days.
The MLS description:
Andersonville Victorian 2 Flat! Remodeled two-story owner's unit, huge master suite w/ jacuzzi tub, glass 2 person shower. kitchen has maple cab, granite counters and SS appliances, renovated 1st floor unit rented for $1900, landscaped back yard, and finished basement.

Listing courtesy of  Jim Anderson – RE/MAX Vision 212.

5248 North Wayne listed at $775,000 and on the market for 3 days.
The MLS description:
Lots of great space to spread out in this 4 bdrm home in Lakewood Balmoral Hist. Dist. Features 4 baths, built-ins, 4 fireplaces, mech. updates. Kitchen has granite island Viking and Bosch appl, & brkfst area. Huge master w/4 closets & fireplace. Master bath w/marble, sep. shower, Grohe. Third floor bdrm doubles as office. Lower level family room. Flagstone patio Walk to Andersonville shops, restaurants, Red Line.


Listing courtesy of Pamela Ball – Baird & Warner

5457 North Wayne listed at $1.5 million and on the market for 200 days.
The MLS description:
Extraordinary rehab of a beautiful Lakewood/Balmoral home on a xtra wide corner lot! 16 rooms including formal family rec 5 bed 3.1 bth fp 2 decks large front yard luxury kitchen and 4 bedrooms on one level! Tasteful and elegant this home will satisfy the most discerning buyer! A short walk to the shops and nightlife of Andersonville...this is living!

Listing courtesy of Bob Satawake – Jameson Sotheby's International Realty

5313 North Lakewood listed at $1,6 million and on the market for 111 days.
The MLS description:
Beautiful Home in Fabulous Neighborhood! Maple flooring, Glass Tile Baths, Sauna, Top Line Appliances, Custom Maple Cabinets, Custom Bookcases, 3 Indoor Fireplaces, Outdoor Fireplace, Outdoor Grill, 3 Decks, 2 Laundry Area Hook-Ups. The Best!

Listing courtesy of Mary Roche – Mary Roche.

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than iMove Chicago are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. © Copyright 2012 Midwest Real Estate Data LLC. Information deemed reliable but not guaranteed.

The bottom of the housing market is finally here. No, that's not our own determination but that of many experts in the housing industry. The chorus for declaring the bottom is here has grown quite load.  Those observation come also from those in the industry who are seeing inventories of available homes declining, prices stabilizing and competition for competitively priced properties increasing. Several other factors also demand that those in the market to buy take notice. Rates are at an all time low of approximately 3.5%, meaning that your money simply goes further and buys much more of a house than it once did.  Also, the rental market has steadily become tight and rental prices have risen and are not expected to decrease anytime soon.  Many find that the renting is a more expensive proposition than buying. That leads all of us here at iMove to advocate action for our prospective home buyers. If you have been on the fence, now is the time to get off and act.

Starting this week, iMove will profile some of the most compelling homes that we have come across in our showings.  These are properties that we believe stand out for their value proposition and are attractive purchase opportunities. Of course, every search is unique and we can always taylor a profile unique to your wants and needs.  Just ask and an iMove agent will be happy to start working with you.

So, let's get started:

Property of the Week: 1601 West Chase, Unit 2E
This is a truly a wonderful three bedroom, two bathroom updated condo in a classic six unit building located in Chicago's Rogers Park neighborhood.  The property is a compelling buy because of its quality, size and location.  The unit boasts large rooms, bright light and easy access to Chicago's north lakefront and the Red Line train.  The pictures, however, tell the real story:

Here is the full MLS description:The kind of space you can only get in a vintage jumbo 6 flat! Incredibly sized rooms, hardwood floors throughout and original detail. Traditional living room accented by a lovely bay window. Formal dining room fit for any table. Kitchen features stainless steel appliances and pantry. Both baths retain their vintage charm with subway tile throughout. Excellent storage. Garage parking included. Walk to Red Line & Lake.
Listing information courtesy of Andrea Geller – Coldwell Banker Residential Brokerage.

Bloomberg Business Week just ranked "America's 50 Best Cities" and Chicago came in......  Number 24. What?  LA ranked number 2!  Are you kidding?  Learn why here.

What do you think? Has the long awaited housing recovery finally begun?