This seemingly simple question seems to find its way to me every day of the year, no matter where I am or to whom I am speaking.
I get it at graduations, at (the last row of) a bris (where I can be found at the bris if I’m at a bris), at the Costco checkout counter, in the men’s room at Gibson’s, on a routine Uber ride to the airport, in the men’s room at RL, at each holiday cocktail party, at each session with my physical therapist, at every ballgame at Wrigley, at every shiva, and every time I pick up my order for El Mariachi. It’s an innocent question from earnest people looking for the answer which will hopefully reassure them about the security of what may be their largest investment - their home.
So, they ask it: “How’s the market?”
After reading articles in Crains or the Wall Street Journal, perhaps after listening to a report on NPR or seeing a post on their phone, they think they know the answer…but then they need to hear it from me, the guy who's been in the thick of it for almost 30 years.
Although it’s tempting to describe the market as “hot” or “sluggish,” the truth is that even in the best of times, the Chicago and Chicagoland markets are highly segmented and nuanced. The market for a historic row home in the Gold Coast is not the same as a 2-bedroom in a Lincoln Park 70’s high-rise, a new construction single family in Lincoln Square, a vintage 3-flat in Rogers Park, a former retrofitted factory in Bucktown, or a lakefront estate in Winnetka. Chicago is no New York, San Francisco, Miami or Aspen where widespread generalizations of the health of the market are common. Agents in these markets have it relatively easy: it’s up, it’s down, it’s super-hot, there’s no inventory, there’s over supply. And then they can move on to their favorite movies and books.
Recognizing what sets Chicago apart and how the various neighborhoods and plethora of housing types are impacted require a more substantive and thorough review of the particular market, sub-market and sub-sub-market. My team and I are well-equipped to give you your answer. But it may require scrutiny, historical context, and a healthy review of the facts on the ground and in the larger community.
You deserve nothing less.
Have a great weekend!
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Head to Chicago’s Uptown neighborhood to kick off the Lunar New Year with a colorful cultural celebration on this Saturday. Marking the Year of the Tiger, the annual parade starts at 1 p.m. and features more than 20 local groups, dancers, and performers. Plus, a number of local businesses are planning family-friendly pop-up activities all day long.
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Visit the Stony Island Arts Bank
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In the South Shore neighborhood, the Stony Island Arts Bank is a former bank building that’s been transformed into a thriving community hub for the arts. The stunning space now offers free events, including live house music, workshop, and exhibits. Plus, the library is the perfect spot to curl on up a chilly day.
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4 Bed | 3 Bath Lincoln Park
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5 Bed | 3.1 Bath Bucktown
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5 Bed | 5.1 Bath Lincoln Park
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1240 N. Lake Shore Dr, #32A
4 Bed | 3.1 Bath Gold Coast
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2440 N. Lakeview Ave, #2B
3 Bed | 2.1 Bath Lincoln Park
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3430 N. Lake Shore Dr, #6H
2 Bed | 2 Bath East Lakeview
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3200 N. Lake Shore Dr, #403
1 Bed | 1 Bath East Lakeview
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3 Bed | 3.1 Bath Michigan Avenue
Amazing home in the sky with mesmerizing views.
To be offered at $1,975,000
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3 Bed | 4.1 Bath East Lakeview
Dreamy vintage SFH with unexpected delights at every turn.
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900 N. Lake Shore Dr, #1109-1111
3 Bed | 3 Bath Streeterville
Mies reimagined in knock-out
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6 Bed | 4.1 Bath Lakeview
Amazing single family home
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2751 N. Greenview Ave, #F
5 Bed | 4.1 Bath Lincoln Park
Wonderful private 3,900 sq. ft. townhouse
with 2-car attached garage
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Modern. Vintage. Architectural. Cool.
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And everything in between.
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Check out previous "Into the Weekends" here.
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© Compass 2022 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass Real Estate is a Licensed Real Estate Broker with a principal office in New York, NY and abides by all applicable equal housing opportunity laws. All material presented herein is intended for informational purposes only, is compiled from sources deemed reliable but is subject to errors, omissions, and changes without notice. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.
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