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Oak Park, IL Real Estate News

By Marco Amidei
(RE/MAX Suburban )
Normandy Manor, Oak Park, Illinois About Normandy Manor Normandy Manor is a vintage condominium building built in 1909. Normandy Manor is located in Oak Park, Illinois west of Harlem Avenue and north of Washington Street. Average taxes in Normandy Manor $0 Average association fees in Normandy Manor $0 Average home size in Normandy Manor 0 ft2 Average lot size in Normandy Manor 0.00 acres Average year built in Normandy Manor 0 Homes for sale in Normandy Manor None Sales Summary for Normandy Manor  (Jan 22, 2012 - Jan 21, 2013) # of Sales Average Days on Market Average List Average Sale Ratio% 1 135 $172,900 $151,000 87.3% Recent home sales in Normandy Manor Address Beds Baths Sold 346 Wisconsin Ave. 1 1.0 $151,000 Schools for Normandy Manor Elementary Schools Oliver W Holmes Elementary ...
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By Laurie Christofano, ABR, The Pych Team at RE/MAX in the Village
(RE/MAX in the Village, Realtors)
Investment Properties For Sale in Oak Park, IL As of 11/26/12, there are 20 investment properties for sale in Oak Park, IL, ranging in price from $229,000 up to $899,799.  Click here to see up-to-date inventory! My favorite of the bunch is a gorgeous Victorian 4-flat (all 1 bedroom units) offered on short sale for only $385,000! Did you know that if you plan to live in one of the units yourself, you may qualify for FHA financing on a property that has up to 4 units for as little as 3.5% down payment? There's a huge demand for rental housing in Oak Park as well!  1BR units are renting in the range of $650-$1700, 2BR's for $950-$2500, and 3BR's for $1100-$2800! If you'd rather not go through the process to find tenants for your investment, don't worry -- we will handle that for you!  From...
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By Laurie Christofano, ABR, The Pych Team at RE/MAX in the Village
(RE/MAX in the Village, Realtors)
Home Prices in Oak Park IL for November 2012 Real estate market data for Oak Park, IL provided by Laurie Christofano of RE/MAX In The Village, Realtors.   Oak Park Home Prices Over the last couple of years, we have seen a stabilization of single family home prices in Oak Park, and sales activity continues to be strong.  If you are considering buying a home, you can still find deals on a house in Oak Park, but it's vitally important to work with an experienced Realtor who understands the local market.  Don't sit on the fence for too long -- many listings are priced competitively and show like model homes, and they're often selling within days of listing, sometimes with multiple offers.  As you can see from the graph below, the most popular buying seasons are the winter and spring with th...
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By Lyn Sims, Real Estate Broker Retired
The 2012 Wright Plus Housewalk, an internationally acclaimed showcase which features rare interior tours of private homes designed by Frank Lloyd Wright and his contemporaries in the historic neighborhood of Oak Park, will take place on June 2, 2012 from 9 a.m. to 5 p.m. and will feature eight historical homes in Oak Park, which is currently the community with the most Wright-designed structures.   Along with the home tours, Wright Plus will feature discussions on the original occupant lifestyles. The walk will include eight private homes, three of which were designed by Wright, and three public homes, all designed by Wright. The event is organized each year by the Frank Lloyd Wright Preservation Trust.   Tickets to the event will cost $85 for Trust members and $100 for the general publ...
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By Scott Berg
(Berg Properties)
Here is an update on Oak Park Illinois homes for sale.   There are currently 142 homes for sale in Oak Park.  301 homes have sold in the last 12 months with a median sales price of $370,000.  Those homes that sold had an average market time of 144 days.   The highest price received for a home in Oak Park in the last 12 months was $1,100,000. There are 56 homes currently under contract.  
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By Scott Berg
(Berg Properties)
This market report is just for single family homes in Oak Park zip code 60302. The sold data is for the last 12 months. So the market looks relatively healthy with 85 home on the market and 171 that have sold in the last 12 months along with 34 that are under contract. Certainly less than a years worth of inventory that is active on the market.  The median sales price for single family home in this zip code is $408k.
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By Scott Berg
(Berg Properties)
Oak Park Condo Market This update is for 2 bedroom condos that are currently on the market and have sold in the last 12 months in Oak Park. LP is list price. SP is sold price. MT is market time which looks crazy high for those under contract but on further investigation that is due primarily to several short sales that have been on the market for multiple years.     The "other" properties are for "status"=canceled or expired which as you can see tend to be priced higher than those that are listed or those that sold.   It is interesting that the condos under contract are at 149k which to me looks liked prices are being driven down still in the last 30-60 days versus earlier in the year.  Of course some of that could be cyclical as we are in the winter months.  You can find out more about...
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By Scott Berg
(Berg Properties)
Oak Park homes for sale and the sold market data are below.  The sold data is for the last 12 months.       Total Average LP Average MT Sold   304 $403,242 143 Active   147 $428,375 189 Under Contract   49 $361,958 235 Other   0 $0 0     Max Average Median Min LP (500)   $1,250,000 $406,585 $374,450 $0 SP (304)   $1,025,000 $379,450 $363,500 $65,000       These stats are only for single family homes. There are quite a range of sales prices from a $65k foreclosure home to a million dollar 1916 Prairie Style on a big lot.     To see more details about what is on the market in Oak Park please go to Oak Park Illinois Homes For Sale. Aside from beign able to search for homes in Oak Park you can also see the latest foreclosures and historic houses.
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By Chrisha Mitchell
(Prospect Equities, Inc.)
How to Avoid 9 Common Buyer Traps Before Buying a Home Chicago IL Market - Buying a home is a major investment no matter which way you look at it.  But for many homebuyers, it's an even more expensive process than it needs to be because many fall prey to at least a few of the many common and costly mistakes which trap them into either paying too much for the home they want, or losing their dream home to another buyer or, worse, buying the wrong home for their needs.  A systemized approached to the homebuying process can help you steer clear of these common traps, allowing you to not only cut cost, but also buy the home that's best for you.  An industry report has just been released entitled "Nine Buyer Traps and How to Avoid Them".  This important report discusses the 9 most common and ...
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By Chrisha Mitchell
(Prospect Equities, Inc.)
    “Subtle changes in the way you approach mortgage shopping, and even small differ­ences in the way you structure your mortgage, can cost or save you literally thousands of dollars and years of expense.” Mortgage regulations have changed significantly over the last few years, making your options wider than ever. Get the right Information Whether you are about to buy your first home, or are planning to make a move to your next home, it is critical that you inform yourself about the factors involved. Industry research has revealed that there are 6 common mistakes that most homebuyers make in mortgage shopping that can have a significant impact on the outcome of this critical negotiation. If handled correctly, these issues could result in a mortgage that will cost you less over a shorter...
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By Michael Hobbs, SRA, LEED GA, RAA
(PahRoo Appraisal & Consultancy)
  How big does a house have to be before it is bigger than your expectations for foreclosure? Well, I just received a notice from Cherry Picker Investments that 516 Augusta is going to auction on Monday and a couple of their clients are already lining up to try to be the lucky real estate auction buyer.  Definitely not your ordinary, run-of-the-mill house in Oak Park and it will definitely not be a typical Cook County foreclosure auction sale.   516 Augusta Oak Park, IL 60302 Balance due: $1,500,000. Zestimate: $1,063,000 2011 Assessor: 1,242,120 Land Square Footage 22,105 Building Square Footage 5,840     Good Luck Bidding.  I look forward to hearing who great a buy someone got. Michael Hobbs, Pahroo Appraisal & Consultancy
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By Michael Hobbs, SRA, LEED GA, RAA
(PahRoo Appraisal & Consultancy)
    Just when you thought it might not happen, it did. An apparently decent foreclosure investment opportunity in Oak Park, Illinois. 1015 Clinton, Oak Park Illinois which had a $377,000 mortgage sold today for $148,001 per Cherry Picker Investments, a foreclosure buyer service for cash real estate investors seeking superior returns.  The property was indicated to have 8 rooms, 3 bedrooms and 1.1 bathrooms, built in 1917.  Property was listed on MLS 07709413 earlier this year with the following statement: PROPERTY HAS SERIOUS MOLD DAMAGE AND IS BEING SOLD "AS IS" CONDITION. BUYER RESPONSIBLE FOR ALL COMPLIANCE ESCROW AND CITY REQUIRED REPAIRS. TAXES TO BE PRO-RATED AT 100%, TAXES DO NOT INCLUDE HOMEOWNERS EXEMPTION. ALLOW SUFFICIENT TIME FOR BANK SHORT SALE APPROVAL. The property was pe...
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By Heather Eggerding
(Keller Williams Realty Partners)
Heather Eggerding | Keller Williams Realty Partners | (708) 466-1840 169 N. Grove Avenue, Unit 1A, Oak Park, IL Bright & Airy 2BDR/1.5 Bath Condo in PRIME Oak Park Location! 2BR/1+1BA Condo offered at $192,500 Year Built Unspecified Sq Footage 1,300 Bedrooms 2 Bathrooms 1 full, 1 partial Floors Unspecified Parking 1 Covered spaces Lot Size Unspecified HOA/Maint $386 per month DESCRIPTION Bright & airy 2BDR/2BA condo located in prime Oak Park location. Balcony looks out over Scoville park and Library. Tons of light pours into this lovely unit w/ hardwood floors throughout. New stove & microwave in kitchen. Extra living space w/ den off master bedroom. Steps away from Green line & Metra plus shops, restaurants, and schools. One parking space included. see additional photos below PROPERTY...
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By Lyn Sims, Real Estate Broker Retired
Frank Lloyd Wright was an exceptional architect, interior designer, writer and educator, who designed more than 1,000 projects, which resulted in more than 500 completed works.  Many of these completed works are located in our Chicago Area. Wright was ahead of his time promoting 'organic architecture' (promotes harmony between human habitation and the natural world), was a leader of the Prairie School movement of architecture of which we are all familiar. His work included original and innovative examples of many different building types, including offices, churches, schools, skyscrapers, hotels, and museums. Wright also often designed many of the interior elements of his buildings, such as the furniture and stained glass. So what if anything of 'Mr. FLW' is on the market now?  Plenty! ...
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By Doug Katz
(Chicago Bancorp)
As Independence Day approaches, I cannot help but reach back fondly to my childhood for the best explanation on the significance of the 4th of July. Enjoy the link below and please take a moment to remember our servicemen and women who represent the the finest example of our values and for whom fireworks and rocket's red glare are a daily and dangerous reality. No More Kings
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Today, more than 77,000 agents nationwide, banned together to "Give Where You Live" and give back the the communities that support them throughout the year.  Chicago was no different - In the Oak Park area, just west of the city, our office of just under 50 people decided to do a food drive to support the Oak Park Food Pantry which support over 20 local communities in Chicago and the surrounding areas.  We passed out fliers throughout the community and had several homeowners call us for pick-ups, other Real Estate Companies participated as well - with Weichert Realty really pitching in and donating a HUGE box of food for us to bring along with ours.  This was not a day of competition between firms, it was a day of working together, hand in hand with our peers to support those in need t...
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Keller Williams Realty Professionals in Oak Park is proud to announce the addition of another great agent to our team! Loria Hamilton-Field Loria was with Keller Williams before and left to be a large independent company in Oak Park.  When asked why KW and why did you want to come back, here was her response: "I came back to KW for a couple of reasons. After being with a company for over a year that treated me like just another number, I missed the atmosphere. I never felt like I was just another salesperson with KW. Everyone always took a genuine interest in helping me with my business. This really felt more like coming back home. I also came back because of the training and support. I've attended tons of trainings and seminars over the past year and KW is in a league of their own. I m...
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By Caroline Huising
(Huising)
Price: $334,000 FIZBER.com ID 11648475 Single Family with 2 bed, 2.0 bath, in 1013 South Harvey Ave Oak park, IL, 60304 http://www.fizber.com/11648475/ 1013 South Harvey Ave - For Sale By Owner Property Details: Type: Single Family Address: 1013 South Harvey Ave, Oak park, IL, 60304 Sq footage: 881.0 Floors: n/a Bathrooms: 2.0 Bedrooms: 2 Year built: 1921 View full property details and seller's contacts. View more Illinois homes for sale. Homes for Sale by Owner. Description: Charming Pottery Barn style home boasts gleaming hardwood floors throughout and high ceilings. This 2 bdr/2 bath + office and den with ample storage sits on a quiet street one block from Barrie Park and the Blue Line. Minutes from the Harrison St Arts District, with easy access to 290, this beautiful bungalow won'...
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By Laurie Christofano, ABR, The Pych Team at RE/MAX in the Village
(RE/MAX in the Village, Realtors)
About The Available Condos: http://budurl.com/2n8f Regency Terrace: 922 North Blvd. ~ Boutique Downtown Oak Park elevator building w/ indoor pool & rooftop sundeck ~ pet and investor friendly! Unit 406: $149,000 ~ 1BR, 1BA w/ garage pkg (add'l outdoor space avail), fresh paint + 26 ft balcony Unit 507: $169,800 ~ 1BR, 1BA w/ garage pkg, chic & updated + 26 ft balcony Unit 408: $219,800 ~ 2BR, 1.5BA w/ 2 outdoor pkg spaces, fresh paint + 40 ft balcony Marketed by The Pych Team, "Your #1 Pick", @ RE/MAX In The Village About The Pych Team: http://budurl.com/PychTeam
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By Laurie Christofano, ABR, The Pych Team at RE/MAX in the Village
(RE/MAX in the Village, Realtors)
Oak Park is a vibrant, diverse suburb just west of Chicago. It is a very pedestrian and bicycle-friendly community with access to the CTA via multiple blue and green line stops as well as a Metra station. The downtown area is very lively with many shops and restaurants. There are also smaller neighborhood "shopping districts" with boutiques, art galleries, coffee shops, restaurants, and the occasional bar/lounge. There are several parks and playgrounds scattered throughout the village as well. Our housing stock ranges from condos under $100K-500K+ and houses ranging from about $225K to $1M+. If you're interested in learning more about the opportunities in the area, I'd love to help you. Feel free to contact me via my website below. Laurie, Buyer Specialist with The Pych Team, "Your #1 P...
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