If you are in the market for a home priced just under $10 million there is a castle-like compound currently for sale in one of the most exclusive neighborhoods in Austin, Texas. The 7-bedroom, 10-bathroom home features over 16,000 square feet of living space, a 4+ acre lot, amazing landscaped grounds and brick facade. Built in 2002 in the Barton Creek neighborhood close to golf courses, fine dining, tennis courts and a world-renowned resort and spa.
2401 Portofino Ridge Dr has it all including multiple wood burning fireplaces, gourmet chef-quality kitchen, marble and stone bathrooms, custom window treatments, crown moulding, many architectural details, outdoor kitchen, swimming pool and more.
Some of the most notable features of the home include:
– 20-foot ceilings
– an over-sized 8 x 10 fireplace in the entry
– medieval inspired windows
– 1500-bottle wine cellar
– two separate home offices
– two bedroom guest house
– 7-car garage
– all brick towers with copper domes
Michael Jordan’s former Chicago area residence located at 2700 Point Lane in the wealthy suburb Highland Park, Illinois is being sold at auction on ConciergeAuctions.com after the residence failed to sell on the open market, last listed at $21 million. The auction will be held on 11/22/2013 for the 56,000 square foot home that features 9 bedrooms and 15 bathrooms situated on a nearly 7 1/2 acre private estate.
Recently re-married, Michael Jordan plans to live in his newly constructed 38,000 square foot mansion in Florida. Jordan moved into the Highland Park home in 1994 and remained there throughout his career with the Chicago Bulls. He is now seeking “warmer weather” and “no longer has the need for such a large home” since his children are grown. The estate has been immaculately maintained and professionally designed and furnished.
Some of the most notable features of the home include:
– fully stocked pond
– over 250 trees
– 15 heated garage parking spaces
– NBA quality regulation size basketball court
– tennis courts
– putting green
– gentlemens retreat
– 7.5 acre estate
– fully equipped beauty salon
– 5 fireplaces
Are you curious to know which Chicago neighborhoods most renters are seeking? We have gathered data from web visitors on the Nemirow Group website throughout the 2012 calendar year to find out which neighborhoods are most desirable. These statistics provide insight for tenants, landlords and investors. The popularity of each neighborhood is measured by the total number of unique page views that each neighborhood page received.
Most Requested Neighborhoods for 2012
1. Lincoln Park (11,641 unique page views)
2. Old Town (11,434)
3. Lakeview (8,528)
4. Wicker Park (7,626)
5. West Loop (7,610)
6. Bucktown (6,327)
7. South Loop (6,254)
8. Gold Coast (5,567)
9. River North (4,988)
10. Downtown Loop (4,241)
The house used in filming of the classic movie “The Fugitive” starring Harrison Ford is now being offered for rent! This 6200 square foot home has also been featured in Chicago Magazine and is ideally situated in East Lincoln Park, one of Chicago’s most sought after residential neighborhoods. This modern and luxurious abode features 5 full bedrooms, 3 of them master suites, along with 4 full bathrooms and two half baths. The home is immaculate and the design style is grand and modern. A 3-car garage, sauna, indoor swimming pool, 4 fireplaces and an elevator make this home comfortable and convenient to live in. This home was last listed for sale in December 2012 at a listing price of $3.69 million. For a monthly rental amount of $17,000 this home can be yours to enjoy!
The Summer of 2012 has exhibited a spike in Chicago apartment rental activity. There have been an abundance of renters seeking apartment rentals throughout the city and especially in the most sought-after north side neighborhoods such as Lakeview, Lincoln Park, Old Town and other areas within close proximity to downtown. The competition amongst renters is fierce and desirable units do not remain available for long.
This current trend represents a shift from the previous rental climate that we saw in the Winter months of 2011-2012 where there were fewer renters and more apartment inventory available. Many apartment buildings were offering rent specials and incentives to get leases signed. Now we are seeing the polar opposite where no discounts or incentives are available and leases are being signed immediately once units become available.
It is typical for the rental market to “heat up” in the Spring and Summer time in Chicago, but this year’s increase is more than usual. This can be contributed to a variety of factors, including the penned up demand from renters who waited until now to see what type of inventory the Summer market would bring. Property owners also add fuel to the fire by holding their units off market until the prime time begins in hopes of getting top dollar for their unit and having their lease begin in the prime rental season. Additionally, there is a large amount of inventory being taken away from the rental market from developers and owners who prefer to sell their condo units during peak buying season. These type of places have been offered as rental opportunities in the past, but with the sales market showing strength and momentum these units are temporarily unavailable to renters. As many current renters dabble in the market to see what’s available they are noticing that their current place might be the best deal around and thus they are opting to remain as-is instead of changing apartments as they have in previous years.
Normal seasonal factors also add to the mix, such as a large number of recent graduates moving to the city and seeking rental housing. This Summer seems to be a clear indicator of a shift back to a Landlord’s market in downtown Chicago and surrounding areas. Many real estate professionals including apartment locators and property managers are claiming the lowest vacancy rates they have seen in recent years. Downtown apartment developments are leasing up as fast as construction can be completed. Many developers are rushing to take advantage of this trend in the rental market by starting new projects and expediting completion of current projects in the downtown area.
Some might pose the question: As a renter, what can I do to protect myself in this extremely tight rental market where prices are rising and competition is fierce? My response would be: Finding a suitable rental unit that you can afford and where you can remain until you are able to purchase a condo or home is your best bet. Even better, if you can lock in a two-year lease or a one-year lease with option to renew with a capped rent increase that would be ideal. Other tips for renters to navigate this difficult rental market are to start looking for a new place 60 days prior to the expiration of your current lease agreement. Secondly, if you see a good deal do not pass it up or take long to think about it. Good deals always go fast and waiting can end up hurting your pockets as fewer places are available to choose from and prices are higher for your desired move-in date.
The 11,800 square-foot mansion originally owned by Mary Kay Ash, founder of the Mary Kay cosmetics empire, is now being offered for sale at a mere $3.3 million. This is a drastic reduction from its 2007 listing price of $5.7 million. This custom-built home was designed by Dallas Design Group in 1984 and has been maintained and improved upon ever since. The home features 40-foot ceilings, a 320-square foot master suite, an outdoor swimming pool, an acre of land and a pink quartz toilet to top it off. Take advantage of the sluggish luxury real estate market in Dallas, Texas and make this home yours today! The caliber of design work and architecture is truly spectacular. Have a look for yourself here.
The famous home includes 6 bedrooms, 8 bathrooms and 7 fireplaces, along with ornate wood carvings and classical designs throughout. Check out the true chef’s kitchen equipped with an enormous preparation island and cabinet space from floor-to-ceiling. This home is well-priced at less than $300 per square foot. This estate would serve as an excellent retirement residence as well as an active family home.
With the economy still somewhat in shambles, one of the hottest topics tends to be the housing market. This is because, when people are struggling to find work or unable to make money, they are more reluctant to buy homes, which of course also makes it more difficult for sellers to prosper as well. This can quickly turn into a vicious and hard-to-reverse cycle. However, it is a bit inaccurate to simply declare that a general housing market is good or bad, simply because housing can refer to so many different types of living, and the market itself varies according to different areas. For example, many suburban communities are certainly suffering from awful housing markets‚ because people aren’t looking to buy properties. However, in some urban areas where rental is a more popular option, people are taking advantage of this alternative, and the housing market is improving. One fine example of this trend is in Chicago.
According to data noted in the Chicago Tribune, the downtown Chicago area is seeing a significant influx of property rentals, following the building of several new apartment buildings in the area. It is not easy to push construction projects through to completion during an economic downturn such as the one most of the country has been experiencing for the last several years, but some Chicago contractors are now being rewarded for their perseverance as people who are wary of buying properties clamber to rent apartment space. While this cannot be described as a reversal of housing trends, or anything of that nature, simply because it applies to rental and not ownership. However, it is still a positive sign in some respects, as well as a welcome opportunity for people who are looking to live in Chicago, the more rental property that is available, the more people will be willing to take advantage of it.
Of course, some people still have some reserves about living in downtown urban areas, particularly in cities as large as Chicago. These people can be in tough situations, because it is harder to rent outside of the cities, and buying property may not be an option. However, many of the concerns of living in a city can be put to rest in Chicago. For example, a simple look at a company like Home Security Family can provide you with all of the additional security you need to feel comfortable in your apartment. Additionally, spending a bit of time in Chicago will help you to see that the city, while large, is actually far from overwhelming, people are friendly, and many distances are walkable, and the city itself is both impressive and pleasant.