Month: December 2019

Meh to Wow

Posted on December 23, 2019 by Mary Mendoza in Decor, Renovations

The condition of a home is one of the most critical drivers of its sale price. Most buyers are looking for “move-in ready” homes, hoping to avoid the stress and expense of fixing up a property after purchase. Homes that are outdated or in need of repair tend to sit on the market, attract low-ball offers from flippers, and eventually sell for well under fair market value.

Nevertheless, many homeowners don’t renovate their homes before listing, assuming it will be too overwhelming, too expensive or take too long. They dread the process of finding a reputable contractor, selecting materials, and coming up with the cash to pay for it all. Instead, they list their home in its current condition, drastically reducing their potential proceeds and lengthening their time on market.

Ask me how Curbio and I are able to assist with it all and sell your home for top dollar;

📲 312-612-0303
✉️ phil@philskowron.com
🌎www.philskowron.com

The Best Midwest Winter Getaways

Posted on December 20, 2019 by Mary Mendoza in Uncategorized

Coastal lifestyle magazines often get the Midwest wrong. There’s almost always a portrait of farmers and hectares upon hectares of corn fields and images of a frozen Chicago. And sure, the sweet yellow crop may be Iowa’s single largest export, and yes, Chicago can and does get incredibly cold in the winter, but throughout the Great Lakes region, there is history to explore and an infinite number of outdoor recreation opportunities.

It’s a theme that Chicago-area residents are well versed in — adventure awaits in any direction you decide to drive.

And just like the thousands of towns scattered throughout the region, there is something for everyone. Those looking for a thrill will find miles upon miles of groomed cross-country skiing paths in Door County, Wisconsin. But say you just want some much-needed rest and relaxation — you can get that too. Here are just a few of our favorite sites for adventure, small town charm, and relaxation within a few hours’ drive from downtown Chicago.

Sites for the adventure-seekers:

Looking for some outdoor fun and exploration in serene environs? Pack your hard-shell coat and gloves and head north towards Sturgeon Bay in Door Country, Wisconsin for some of the best cross-country skiing within reach of the Chicago area. Some of the best locations include the 48-mile-long Ahnapee State Trail, which stretches from Sturgeon Bay to Kewaunee, and the Crossroads at Big Creek and Door County Land Trust nature preserves.

If downhill skiing is more your speed, consider a trip to Wilmot Mountain Resort in Wilmot, Wisconsin. It may not be Vail, but with 23 trails and seven lifts spanning 120 acres, Wilmot Mountain is the closest thing a Midwesterner gets to the true spirit of Alpine skiing and snowboarding. They even have snow tubing, which is a blast for all ages. And then there’s the recently remodeled base lodge, perfect for warming up before the next lift.

Winter hiking may sound like an oxymoron, but in reality, steady cardio activity combined with cooler temps can make for a quite comfortable experience. That, and you can expect to see far fewer crowds at popular attractions such as Starved Rock State Park in Utica, Illinois. Filled with unique geological features such as miniature canyons and waterfalls, this outdoor attraction is a staple for those living in and around the Chicago area. Bring your camera to capture breathtaking images of frozen waterfalls.

Escape to cozy small-town charm:

The Midwest is full of picturesque small towns with historic main streets that appear as though they’ve been trapped in amber over the last 100 years. One of these historic towns is Galena, Illinois, located about a three-hours’ drive from downtown Chicago. The main drag feels almost like a European-style mountain town with rows of Victorian-era buildings brushing shoulders down a gently winding road. And a light dusting of snow adds even more charm to this already enchanting place.

Lovers of classic Americana will appreciate Three Oaks, Michigan. With less than 2,000 residents, this village is truly a small town by definition, but there’s plenty to see and do. The quaint downtown boasts numerous independent shops and cozy restaurants. And then there’s the Journeyman Distillery where spirits such as gin and whiskey are produced and poured for tourists’ enjoyment.

Small towns in Wisconsin have a specific kind of charm. Towns like Cedarburg have a distinct European flavor with sturdy, stone-clad buildings and gristmills. And fortunately for today’s visitors, much of the historic center of Cedarburg remains in-tact and thriving. Take a step back in time and explore this town’s collection of over 200 buildings listed on the National Register of Historic Places.

Places ripe for rest and relaxation:

Maybe you’re just looking to get away from the city and have a weekend of quiet relaxation. One of the more premier resort destinations within reach of the Chicago area is the American Club in Kohler, Wisconsin. The grand century-old Tudor-style manor which houses the resort harkens to the wealth and glamour of The Great Gatsby era — and rightfully so. Guests can expect to be pampered at the hotel’s spa and enjoy gourmet room service.

Even closer to the Chicago area is the Grand Geneva Resort in Lake Geneva, Wisconsin. You can either choose your own adventure or let the resort do all of the planning by choosing one of its many different package deals. There’s also special holiday and winter-specific programming and events.

The Emergence of West Loop Luxury

Posted on December 19, 2019 by Mary Mendoza in Chicago Luxury Real Estate, Market Insights, New Luxury Buildings, West Loop

Perhaps no other Chicago neighborhood has seen such an explosion in new development in the last decade as the West Loop. The neighborhood’s transition from a warehousing and meat packing district to a luxury live-work-play destination has produced Michelin-starred restaurants, multi-million-dollar home sales, and the arrival of Fortune 500 companies, including Google, McDonald’s, and many others.

But what is it like to actually live in the area? And what should buyers look out for when considering this downtown neighborhood?

“It’s a great place to work, a great place to live, it has a fabulous elementary school, awesome transportation, great food, and actually a couple of decent parks,” says @properties co-founder Thad Wong in his conversation with Mike Golden in the latest @/The Market installment.

And with rising land and construction costs, we can expect to see prices for new construction continue to climb in the neighborhood, Golden adds.

“I think because of the infrastructure, because of the restaurants, and because of the vibe of the neighborhood, we can start to see the push in pricing as high as we’ve seen in other neighborhoods,” Golden says. “I don’t know if it’ll match some of the top, top tier, $1,200-per-foot pricing yet, but it’s going to be a pretty spectacular neighborhood over the next decade.”

Managing broker George Schultz adds some context, offering an early look into EVEQ, a new, condominium development featuring larger floor plans at relatively moderate prices for new construction.

“What we have at EVEQ and in the West Loop that seems to be the hot product is having three or four bedrooms on one level,” Schultz says, contrasting the plans with traditional townhomes where the living is more vertical. “This allows for a flexible lifestyle where you can work from home, be a single person and have great entertainment space, and you also get a lot more outdoor space.”

Hear more about the burgeoning Fulton Market and West Loop in the video below.

At this 55th-floor condo, the view trumps everything

Posted on December 18, 2019 by Mary Mendoza in Chicago Luxury Real Estate, Crains, Pocket Listing, Trump International Hotel & Tower

The vistas from a unit with a 90-foot span of floor-to-ceiling windows in Trump Tower convinced a Glen Ellyn couple to move downtown. Now they’re off to Florida, and it’s soon for sale at $2.99 million. Take a photo tour.

Written by: DENNIS RODKIN

Glenda Spangler wasn’t entirely convinced that she and her husband, Ed, should buy a downtown condo as a getaway from their Glen Ellyn home.

Then she walked into this condo that faces east along the Chicago River from the 55th floor of the Trump International Hotel & Tower.

“I looked out there,” she recalls nearly 10 years later, and ‘I said, OK, I’ll leave Glen Ellyn.'”

The three-bedroom, 3,100-square-foot condo is at one of the rounded corners of the tower, with floor-to-ceiling windows running roughly 90 feet from one end of the home to the other. (See more photos below.)

“The view is spectacular,” Ed Spangler said. “In the morning the sunrise on the lake, then as it comes up it lights up the city all around you. And later the sunset lights up the city in a whole different way.”

That view, the dozens of restaurants and cultural institutions within walking distance and the high level of service in the amenity-rich tower gradually shifted the couple’s allegiance, and two years later the condo became their primary Chicago residence and they sold their Glen Ellyn home of more than two decades.

Ed Spangler, who retired a few years ago from a career in consulting, and Glenda, who retired from a consumer products company several years ago, plan to relocate to Florida. They’ll put their Trump Tower condo on the market in January. Represented by Phil Skowron of @properties, it’s priced at $2.99 million.

See more homes in our Before It Hits the Market series.

The curvature of the outer wall enhances the dynamic nature of the view; nothing is flat and static. Glenda Spangler designed the tile-covered fireplace wall to take it further. Most of the time, it looks neutral, but “it’s a mother-of-pearl tile,” she said, “so when the light hits it, it’s like gold.” She designed this wall, with the cutouts for shelving and a fireplace, to be contemporary with a hint of tradition.

The combination of den and kitchen is a warm, intimate family space separate from the large main room that’s designed for living and dining room functions. The windows here are oriented northeast, toward the towers of picturesque landmarks, the Wrigley building and the former Tribune tower.

Navy Pier’s fireworks, boats cruising along the river, and handsome buildings like the Hancock Center are all “part of the entertainment,” Ed Spangler said. “We’d like to thank the city for doing the Riverwalk,” which brought sculptural forms and countless pedestrians to the water level. “It’s like theater on the river,” he said.

The living and dining room stretches about 35 feet, lined all the way with windows. On the opposite wall, the design of both the limestone fireplace and the bookcase niches keeps them light and neutral.

Glenda Spangler used a time-honored design trick to emphasize the light and open feeling of the condo: at the right side of the photo is a mirror mounted on a portion of wall, there to multiply the view.

n the kitchen, the Spanglers added some cabinets and replaced out-of-date dark granite countertops with a lighter cream version. They bought the condominium in 2010 for $2.3 million, and spent an additional amount afterward on improvements such as these in the kitchen, the tile wall, and others. They declined to say what their total investment in the property is.

There’s another fireplace in the master bedroom, set into the tile-lined wall at left. “Before the sun comes up in the morning, it’s nice to turn on the fireplace and sit and look out the windows,” Ed Spangler said. The tile here is a light green, selected to match green frosted glass doors in the adjacent master bath.

Other than new lighter countertops and a television, the master bath is largely as the developers built it, in a neutral look that matches their later design of the rest of the condo.

There are two more bedrooms in the condo, this one used as an office.

The view, ever-changing with the season and the time of day, is the main event at this condo. Because of the building’s fortuitous siting at a prominent bend in the river, from inside some condos it looks as if the tower was built over the river itself. From the Spanglers’ unit, the view encompasses everything from Cloud Gate, aka The Bean, out to O’Hare, Glenda Spangler said. They plan to divide their time between Florida and California, two beautiful parts of the world, but “there’s nothing like this” in either place, she said.

The Future of Gold Coast Luxury Real Estate

Posted on December 17, 2019 by Mary Mendoza in Chicago Luxury Real Estate, Gold Coast, Market Insights

Sales numbers from the last few years paint the picture of a down market in the Gold Coast – the upscale lakefront pocket that has long been known for ultra high-end condos and co-ops. But another evident trend that sales reveal is a wide gap between new construction and existing housing stock, particularly in dated inventory.

While new construction in the Gold Coast now can hit $1,200 to $1,300 per square foot, a lot of the inventory in ‘last generation’ buildings will be priced at half that level, and older condos will sell for even less.

However, a variety of options and slow sales can present an opportunity for buyers who are willing to put in some sweat equity, says Rick Sobin, managing broker and VP of Brokerage Services for @properties.

“A lot of people are seeing great opportunity in large units with good pricing, who are [then] able to gut a unit down to the studs, start over again, and when it’s finished, end up with a very well appointed unit at a price point with there still being an opportunity for a profit.”

And for the new construction side? Expect to pay top dollar. The cost to build in this exclusive neighborhood is some of the highest in the region, says @properties co-founder Thad Wong.

“The land value in the Gold Coast is the highest in the city,” Wong says. “You’re not able to build anything in the Gold Coast for under $1,000 per square foot.”

What does all of this mean for the Gold Coast market in 2020? Tune in and listen as Rick Sobin, Thad Wong, and Mike Golden offer their insight and predictions for the coming years.

How to Incorporate Neutral Holiday Decor

Posted on December 15, 2019 by Mary Mendoza in Decor

Whether you’re listing your home during the holidays and want to tone down the decorations, or you want to simplify your holiday decor theme, a neutral palette can help you avoid a cliche holiday scene. Another benefit of choosing a neutral theme is that no matter your home’s existing style, neutral holiday decor can seamlessly integrate into the look and feel of the space. It’s easy to get caught up in the traditional holiday color combinations, but if you’re looking to create a serene seasonal backdrop, read on for insight into how you can integrate a neutral holiday decor palette into your home.

Bring the outdoors inside

Incorporating natural elements indoors creates an organic seasonal backdrop. Whether it’s displaying a bowl of pinecones, draping evergreen garland on the bannister, hanging wreaths throughout the interior, adding evergreen boughs to light fixtures, or displaying birch tree logs in a basket, bringing these outdoor elements inside is the perfect starting point for your holiday decor plan. Or, if you prefer to keep things minimal, consider these elements your decor plan for the season.

Emphasize light

The holidays should be about warmth and spending time with the ones you love. A house decked with white string lights or twinkle lights provides the ambience for cozy nights spent on the couch watching holiday movies. The mantle, light fixtures, greenery, banister, and of course, the tree, are all excellent areas to light up.

Be deliberate with your color scheme

Avoid a hodgepodge of colors or cliche holiday themes by sticking to an edited, neutral color scheme. Possible color combinations include: creams and metallics; white and brown; green and brown; green and white; green and navy; or blue, white and green. Carry the color scheme throughout your various holiday vignettes.

Carefully edit

Be selective with the holiday decor items you put on display, and be discerning with any new items you purchase. Resist displaying or purchasing something unless you are certain it will seamlessly integrate with the neutral palette.

Display textured, neutral fabrics

Displaying neutral toned throw pillows and blankets in materials like faux fur and chunky knits create a welcoming, comfortable atmosphere. An oversized, cable knit blanket and plush faux fur pillow basically begs you to take a few minutes to recharge, while taking in the ambiance of the atmosphere.

Simmer neutral scents

No holiday decor theme is complete without a seasonal scent, but be careful not to select one that is too overpowering. An alternative to strongly-scented candles is to boil a pot of water, fill it with oranges, cloves and cinnamon sticks, and bring to a simmer. The subtle scent will fill your home with a pleasant holiday aroma.

Set a neutral tablescape

If you want your tablescape to remain neutral, but are looking to add some drama to your dining decor, set the table with dark dinnerware. Matte, black plates and bowls create a stunning contrast against a centerpiece made of winter white flowers and evergreens.

@properties’ Pre-Sale Home Renovation Partnerships Give Sellers an Edge

Posted on December 13, 2019 by Mary Mendoza in Renovations

@properties recently formed two new partnerships to address one of the biggest challenges for home sellers in today’s real estate market: more and more buyers expect “Pinterest-perfect,” move-in ready homes, but a lot of properties – even those that are just 8 or 10 years old – need updating to bring them up to today’s standards.

Renovating a home before listing it for sale requires not only the complicated logistics of design and construction, but also a significant financial outlay. Curbio, a national pre-sale renovation service, and Renovation Sells, which performs similar services exclusively in the Chicago area, take the hassle out of the entire process.

Working exclusively with real estate agents, both companies focus on renovation projects that deliver maximum value in the marketplace. They manage design and construction from start to finish, and best of all, they collect payment at closing – using the equity in your home as collateral – so that sellers don’t have to come out of pocket before their home is sold.

Curbio leverages national buying power and technology to streamline the process and lower costs. Each job is run by a local, in-house project manager. Similarly, Renovation Sells uses a local team of designers, project managers and subcontractors to quickly design, budget and complete renovations. Most of Renovation Sells’ projects are completed within 14 days.

Once renovations are done, your @properties agent will determine a listing price and come up with a comprehensive marketing plan featuring photos and video of the remodeled home.

The ultimate goal is for the increased value to more than offset the cost of renovations, and for the home to sell more quickly than it would have in its former state. And both Curbio and Renovation Sells can offer dozens of Chicago-area case studies that prove those very outcomes.

Properties with deferred maintenance or outdated finishes are seeing fewer and lower offers as well as longer market times. In the end, sellers may be leaving a lot of money on the table by rushing a home to market without making necessary improvements. Services like Curbio and Renovation Sells help ensure a home makes the best first impression on buyers, and ultimately help achieve faster market times and higher sales prices.

Contact your local @properties agent to get a full rundown on the process of renovating with Curbio or Renovation Sells.