There are a variety of properties for sale Chicago. The Singleton House, the Owlwood property, and Cook County Land Bank Authority properties are just a few examples of some of these properties. You can find more information about these properties in our articles. You can also use this website to find out more about Chicago real estate in general.
Owlwood property
If you’re looking for a Chicago property for sale, you’ve come to the right place find out more. Owlwood is a historic estate that was owned by many prominent people, including the late shady arms dealer Ghazi Aita. He purchased the property in the late ’70s and stayed until 2002. During that time, he also purchased a 4.6-acre lot next door and outfitted the estate with a swimming pool complex. It was during this time that Owlwood’s reputation began to grow as a host of elaborate parties.
Although the estate was once listed at $180 million, the current owner is likely to pay a lot less than that. A buyer who wants to avoid exposing his identity may want to look elsewhere. An LLC was set up to keep the buyer’s identity secret. In 2017, the Viewpoint Collection Partners investment group purchased the estate and listed it on the market for $115 million.
Owlwood has a colorful history. Once owned by a famous Hollywood couple, it was the home of the late Marilyn Monroe. After her death, it passed to several tycoons, including Joseph Schenk, the co-founder of 20th Century Fox. Schenk was also the owner of a guesthouse in the Owlwood estate. Then, in the late ’50s, Schenk sold the property to Super-Priced Acquisitions (now Keck’s company). In the late 1960s, Keck sold the home to Tony Curtis. The couple later sold it for $10 million to a real estate developer.
Cook County Land Bank Authority
The Cook County Land Bank Authority is an independent agency created by the Cook County Board of Commissioners in 2013. Its mission is to purchase vacant properties and sell them at below-market value to qualified developers. These developers then rehab the houses and sell them to new homeowners. Since its inception, CCLBA properties have been sold to both investors and entrepreneurs.
This program is designed to address the negative effects of vacant buildings and the associated blight. The Cook County Land Bank Authority focuses on areas where development is most needed. As such, its goal is to act as a catalyst for reuse, redevelopment, and private investment in blighted areas. It also hopes to acquire 2,300 properties a year within the first two years of its operations.
The Cook County Land Bank Authority offers properties for sale all over Chicago and Cook County. This program aims to combat the blight problem in neighborhoods by placing vacant properties in the hands of neighborhood-based developers. By buying these properties at below-market value, the new owner will eliminate back taxes and other blemishes on the title.
CCBLA
The Cook County Land Bank Authority (CCBLA) is an organization that facilitates the sale of vacant properties to developers. Founded three years ago, the organization aims to clear the red tape that is associated with property development. Late last year, it purchased tax certificates of 7,778 tax-delinquent properties. This has made over 4,000 properties available to developers throughout 22 communities in the Chicago area.
Several hundred commercial and industrial sites will be made available this spring through CCLBA. A full property map is available online. Purchasing one of these properties can cost you as much as $3,000 to $5,000. As long as you maintain the property in accordance with municipal code, you will be able to free yourself from the mortgage.
Another way to purchase City-owned property is through the Market Rate Sale program. This allows qualified buyers to purchase City-owned property in a competitive bid process. The property’s appraised value is determined by a third-party appraiser. In order to purchase a property through this program, you must submit a good faith deposit as well as a detailed budget for your project. Additionally, you may need to sign a Redevelopment Agreement (RAD) to complete the sale.
Short sales
Short sales are real estate deals where you pay less than the full market value of a property. This can save you as much as 67% off the market value. If you are thinking about selling your property in Chicago, you may want to consider a short sale. This type of real estate transaction is a win-win situation for the lender and the home buyer. However, the short sale process is not without risks and pitfalls.
The first disadvantage of short sales is that the transaction is likely to take a lot longer than a standard sale. You can expect to wait anywhere from two to six months before the sale can close. A good way to avoid this problem is to work with an experienced Chicago Realtor who specializes in this type of sale. An experienced Realtor will actively market your short sale listing and promote it so that it gets the most exposure possible.
In addition to being an experienced short sale agent, you should also have an agent that specializes in this type of real estate transaction. A real estate agent who specializes in this type of transaction will be able to give you all of the necessary information to make an informed decision on how to proceed. Whether you need representation for a short sale in Chicago or a refinancing in Chicago, a real estate agent with experience will be able to help you.
Pre-foreclosures
Purchasing a pre-foreclosure property can be a lucrative opportunity for long-term investors. These investors buy houses that are about to go into foreclosure and make necessary renovations and repairs. In addition, they invest in the right community in order to maximize their investment profits. A buyer’s choice of neighborhood can mean the difference between mediocre returns and exceptional returns.
Real estate agents, mortgage brokers, and attorneys are excellent sources for pre-foreclosure properties. You can also use your network of friends and contacts in your area to find a great deal. You can also check out local newspapers. Many homes for sale are listed in the legal section of your local newspaper. When you’re ready, you can contact the owner and put in an offer.
Purchasing a pre-foreclosure property can be a challenging process. Typically, these homes aren’t easily listed on listing sites. The hardest part of the process is locating them. There aren’t a lot of pre-foreclosures for sale on popular listing websites.
Chicago’s West Side
With more than 1,200 homes for sale in West Side Chicago, IL, there are many options for home buyers in this area. Home prices range from $54,000 to $27,500,000. You can find single-family homes, townhouses, condos, and commercial real estate for sale in West Side Chicago.
If you’re interested in buying a property on Chicago’s West Side, you can choose between traditional and modern office space, retail space, and warehouse and logistics properties. There are a number of property classes and sizes available in this area, and each one comes with its own unique amenities. For more information about the various types of properties for sale in West Side Chicago, IL, you can contact a Chicago real estate expert.
Buying a property in Chicago’s West Side neighborhood means embracing a vibrant and dynamic area. The Near West Side is a thriving neighborhood, drawing on the energy and activity of downtown Chicago. The neighborhood has been home to many important events in the city’s history. In addition to its urban character, it’s also very close to the University of Illinois Chicago campus, Union Station, and the Loop.
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