If you’re a first-time home buyer, investor, relocating or retiring—and ready to buy a condo in downtown Chicago—then these 7 market insights will help you avoid costly pricing mistakes. Follow this info-graphic along as it lands you safely on your feet among the street-level metrics.
Properly buy downtown Chicago real estate like a grandmaster chess champion. If you brace yourself with these moves, then you’ll checkmate your opponent every time.
Move 1: Notice of No Agency
What is it? — When you bump into a real estate broker at a coffee shop and start talking real estate.
Chicago is considered a high momentum cyclical market. Similar to other HNWI (high net-worth individual) markets in America like San Francisco. Which means it’s real estate market trend mimics the peaks and valleys of a roller coaster ride. Beyond lifestyle and fun, Chicago offers convenient travel to anywhere in the world. And when it comes to intellectual capital in the form of the tall building, Chicago minds are at the top of the pyramid.
What your pal at the bank and your broker don’t tell you. The reason why your advisers won’t inform you on this calculation is because they’re not trained to think like a successful fund manager. And, therefore, they don’t know it themselves.
This is single-handed the most important lesson you’ll ever need to know when borrowing money from a bank to buy property.
What a crime these days. How some of these buildings have the audacity to include the word “luxury” in their advertising. Whether in Shanghai, Chicago or New York, all I do is stare at architecture—even when I drive.
My wife preferred it back when I would drive twice the speed limit—yet, would actually keep my eyes on the road. These days, I drive half the speed limit; while staring at the construction and design of high quality buildings in premier locations.