If you’re one of THOSE PEOPLE who lose control and go crazy on the dance floor at a wedding when the DJ plays a Journey song, then it’s highly likely that you’re going to need some serious hand holding if you find yourself in a bidding war for a house - a common situation in some of Chicago’s sub-markets where there is low inventory.
Among the strategies that some agents employ on behalf of their buyers is what’s known as an escalation clause. Rather than commit to a higher price, these buyers’ offers will contain not only a stated offer price, but also a promise to escalate their offer by a certain amount over the highest bid the seller has in hand - up to a certain ceiling price of their choosing.
Well, I know that sounds all fine and dandy, but there are a few problems. What if there are multiple offers with escalation clauses? Which do you choose if you're a seller? How do the prices escalate at that point? Do they escalate from the escalated price which is already escalated by another offer which is already escalated? What about the other terms? Is an escalated price the only thing that matters? Which terms have the most impact in a "highest and best" offer? How do you know what to do?
I’ll tell you how: By enlisting me and my team to help you decide how and when to submit an escalation clause if you’re a buyer. And if you’re a seller, enlisting me and my team to help you navigate this crazy landscape and decide how and when to allow escalation clauses in the first place - and how to make sure you set up a scenario in which you get the very best deal possible, with or without escalation clauses.
With the Brad Lippitz Group as your loyal advocate, you just Don’t Stop Believin'.
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The International Exposition of Contemporary and Modern Art (better known as EXPO Chicago) returns to Navy Pier, hosting more than 170 of the world's prominent contemporary galleries from 29 countries and 75 cities. You’ll see towering installations, sprawling canvases, intriguing sculptures and more cutting-edge art at this annual gathering, which features work by artists from around the globe. EXPO Chicago also presents conversations with artists, public art installations and more ways to immerse yourself in the creative spirit of the event.
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The Joffrey Ballet is bringing back a favorite to close out its 2023-24 season—Swedish choreographer Alexander Ekman’s ballet rendition of A Midsummer Night's Dream, which takes cues from Scandinavian Midsummer traditions rather than Shakespeare. The Lyric Opera Orchestra performs the score by Swedish composer Mikael Karlsson, with Swedish singer Anna von Hausswolff joining the dancers onstage at every performance.
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Offered at $619,000
Open House Sunday 10:00 - 12:00
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1040 N. Lake Shore Dr, #25D
3 Bed | 3.1 Bath Gold Coast
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1823 N. Lincoln Park West
5 Bed | 3.1 Bath Lincoln Park
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6 Bed | 4.1 Bath Northfield
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4 Bed | 2.1 Bath Northbrook
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3920 N. Lake Shore Dr, #9S
3 Bed | 3.1 Bath East Lakeview
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4 Bed | 3.1 Bath Bucktown
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910 N. Lake Shore Dr, #1716
1 Bed | 1 Bath Streeterville
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To be offered at $2,375,000
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1040 N. Lake Shore Dr, #4D
3 Bed | 2.1 Bath Gold Coast
Artful redesign at the Carlyle.
To be offered at $1,649,000
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950 N. Michigan Ave, #2203
3 Bed | 3.1 Bath Michigan Avenue
Best terrace on Michigan Avenue.
To be offered at $1,085,000
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4 Bed | 2 Bath Andersonville
To be offered at $1,050,000
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3180 N. Lake Shore Dr, #12D
3 Bed | 2 Bath East Lakeview
Spectacular panoramic lake views
from this stunning updated residence.
To be offered at $415,000
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1100 N. Lake Shore Dr, #33A
3 Bed | 2.1 Bath Gold Coast
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Check
out our
Brad Lippitz Group?"
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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 2024 ¦ 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. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
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