Showing posts with label Investors. Show all posts
Showing posts with label Investors. Show all posts

Friday, May 19, 2017

Co-op Apartments vs Condos | willtveit.com - dreamtown

REAL ESTATE: Chicago & North Shore

Co-op Apartments vs. Condos




CO-OP APARTMENTSCONDOS
AssessmentsCo-op monthly assessments cover the same expenses as for condos (see right) plus 1/12th of the property taxes (see Property Taxes below) and any building mortgage (see Financing Special Projects below).Condo monthly assessments cover expenses for staff, maintenance, reserves, and any utilities provided by the condo association.
FinancingDown payment requirements are higher for most co-ops in Chicago. A few require a minimum of only 20% down. Many allow 50% financing. Some are cash only.The condo associations don't set minimum down payments.
Financing Special ProjectsCo-ops are able to finance special projects via a mortgage for the building. In some circumstances, owners may be able to deduct their portion of the interest on that mortgage. Consult your accountant for details.Condo associations are not able to mortgage the common elements of the building. If there is not enough money in the association's reserves, the association can have a special assessment paid by the owners.
Form of OwnershipBuyers purchase shares of the corporation that owns the co-op apartment building. A proprietary lease gives the buyers the right to occupy a specific apartment.Buyers own their unit and become members of the condo association which owns the common elements.
Purchase ApprovalAfter signing a contract to purchase a co-op apartment, buyers must submit to the co-op's board an application including financial information and letters of reference (both professional and personal). Buyers must also be interviewed by the co-op board. The focus of the approval process is on the buyer's ability to pay their monthly assessments since an inability to do so would put a financial burden on the rest of the co-op owners. The board must abide by Fair Housing Laws.A very few condo associations reserve the right to approve buyers. Approval is much less involved than for a co-op, The association must abide by Fair Housing Laws. Some condo associations have the right of first refusal allowing them to purchase a condo, if they feel the price is too low.
Property TaxesSince there is only one property tax bill for the entire apartment building, an owner's portion is paid to the co-op through the monthly assessment.There is a property tax bill for each unit payable directly by the owner of the unit.
Renting UnitsMost co-ops in Chicago do not allow apartments to be rented out. A few allow rentals on a limited basis such as a maximum of 2 years.Many condos allow units to be rented out, but have rules such as the minimum length of leases. More condos in Chicago have been prohibiting rentals for new buyers recently.
Transfer FeesA few co-ops charge a transfer fee of 1% to 3% of the sale price. This is in addition to Chicago's buyer transfer tax which is 0.0075% of the sale price.Condos don't have transfer fees. As with co-ops Chicago's buyer transfer tax which is 0.0075% of the sale price applies.

















Thursday, February 16, 2017

Open House | Evanston Condominium | dreamtown - willtveit.com

Open House Sunday, February 19, from 1:00 to 3:00 PM

651 Hinman Ave, Unit 2S, Evanston, IL 60202 | $389,000


Gorgeous 2nd floor 3 bed, 2bath unit in 6 unit landmark building! Modern floor plan with open kitchen, dining and living room. Kitchen with 42'' cabinets, granite countertops & breakfast bar. Large, light filled living room with ventless gas fireplace. Master suite has a walk-in closet, French doors leading onto a private expansive deck and private bathroom with walk-in shower and radiant heat in floors. In- unit laundry. Ample storage within the unit, but additional building storage as well. Walk to Main St Shopping district, Starbucks, Metra/ CTA train and the lake!

WillTveit.com  |  Buy ✶ Sell✶ Invest
Dream Town | Chicago & North Shore
1567 Maple Ave, Evanston, IL  60201
will@dreamtown.com | 312.498.8348

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Thursday, January 5, 2017

November Market Trends Report | Will Tveit Real Estate ~ dreamtown










        ✶  ✶  ✶  ✶

THE NOVEMBER TRENDS REPORT IS OUT! 

I want to keep you informed about price and inventory changes in your area.

For all your real estate needs, I'm at your service!

Best,

Will Tveit







  
   WillTveit.com |  Buy ✶ Sell ✶ Invest
  Dream Town  | Chicago & North Shore
  Will@dreamtown.com |  312.498.8348




Friday, December 9, 2016

For Sale: Lincoln Park Mansion | 1932 N Burling Street | Will Tveit - MBA - Broker - Realtor

For Sale in Lincoln Park - Chicago
1932 N Burling Street |  $50,000,000
6 Bedrooms | 7.5 Bathrooms | 3 Vehicle Garage
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Unprecedented urban estate. 25,000 square foot masterpiece on Lincoln Park’s finest street. 

Sited on an enormous 177’x149’ parcel totaling more than eight city lots, every step has been taken to provide complete privacy and tranquility. 

Manicured grounds with multiple fountains, reflecting pool, and hand forged antique garden pavilion transport you to another world. 

Absolutely no expense was spared inside or out throughout this sun-filled mansion. 

Grand in every way, but not overwhelming, the design is perfect for large scale entertaining as well as intimate everyday living. 


This home is nothing short of magnificent at every turn--truly a once in a lifetime opportunity that could never be replicated.

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WillTveit.com | Buy ✶ Sell ✶ Invest
Dream Town | Chicago & North Shore
Will@dreamtown.com |312.498.8348

  




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WillTveit.com | Buy ✶ Sell ✶ Invest
Dream Town | Chicago & North Shore
Will@dreamtown.com |312.498.8348

  



Thursday, December 8, 2016

Mortgage Pre-Approval | Mortgage Process & Calculator | Will Tveit - Real Estate



Will Tveit | MBA - Broker - Realtor
Dream Town Realty | North Shore
1567 Maple Avenue, Evanston, IL 60201
will@dreamtown.com | willtveit.com
direct.312.498.8348
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Wednesday, November 30, 2016

Tuesday, November 22, 2016

Thursday, November 10, 2016

5 THINGS - to do this - WEEKEND | Will Tveit - Real Estate | dreamtown





5 Things to Do Around Chicago This Weekend

Celebrate that you finally made it through the week with five awesome events around Chicago this week! Every week we at Dream Town scour the city and handpick five things we’re excited about.
From culture and history, to weird culture and history, to checking out some art and theatre; you’ll have no shortage of things to talk about next Monday.

ComedyFilm
CHICAGO COMEDY FILM FESTIVAL
An international festival committed to supporting comedy filmmaking as a vital and influential art form, this showcase includes films that are both humorous and poignant. Enjoy a filmmakers’ meet and greet, drinks, and Chicago improv comedy, as well witnessing special guest Jane Lynch receive a lifetime achievement award.

  • When: Thur Nov 10 – Sat Nov 12
  • Where:The New 400 Theaters (6746 N Sheridan Rd)
  • Hours: see schedule
  • Admission: $11 – $75
  • More Info: chicagocomedyfilmfestival.com
StereoPhoto
CHICAGO LIGHTHOUSE INTERNATIONAL EXHIBITION OF STEREO PHOTOGRAPHY
The public is invited to attend any of the two presentations from The Chicago Stereo Camera Club’s annual exhibition of stereo photography, a unique form of three-dimensional photography submitted by enthusiasts from around the world. Through polarized glasses, audiences will see breathtaking photographic slides and digital images taken with antique and modern 3-D photographic equipment.

  • When: Sat Nov 12 – Sun Nov 13
  • Where: The Broadway Theater of the Pride Arts Center (4139 N Broadway)
  • Hours: 3pm, 7:30pm
  • Admission: $20 – $30
  • More Info: openspacetheater.com
LouisArmstrong
LOUIS ARMSTRONG LEGACY CONCERT
Continuing its annual presentation of jazz concerts throughout the fall, the Music Institute of Chicago presents a concert celebrating the legendary jazz trumpeter, bandleader, singer, soloist, and film star Louis “Satchmo” Armstrong, who spent some of his most formative years in Chicago. Among the tunes on the program are “West End Blues,” “Struttin’ with Some Barbecue,” “Big Butter and Egg Man,” and “La Vie en Rose.”

  • When: Sat Nov 12
  • Where: Nichols Concert Hall (1490 Chicago Ave, Evanston)
  • Hours: 7:30pm
  • Admission: $10 – $30
  • More Info: musicinst.org
GermanLantern
ANNUAL LATERNENFEST AND ST. MARTIN’S PARADE
German International School Chicago welcomes children of all ages and backgrounds to a fun-filled autumn celebration. In Europe, Laternenfest is a fall festival where children walk through their villages with lighted lanterns on the eve of St. Martin’s feast day (Martinstag). The Chicago celebration includes lantern-making, storytelling, sing-along, other kid-friendly activities and food and drink for the entire family, concluding with a lantern parade at dusk.

  • When: Sat Nov 12
  • Where: DANK Haus (4740 N Western)
  • Hours: 3pm – 9pm
  • Admission: $13 – $20
  • More Info: germanschoolchicago.org
BookExpo1
CHICAGO BOOK EXPO
Chicago’s biggest literary event of the season features more than 60 Chicago-area publishers and literary groups, plus dozens of author events and workshops, including a special series of events for aspiring authors organized by the student organization MythInk. The Expo also includes a new daylong professional development seminar held held in partnership with Columbia College’s Career Center.

  • When: Sun Nov 13
  • Where: Columbia College (1104 S Wabash Ave)
  • Hours: 12pm – 5pm
  • Admission: Free
  • More Info: chicagobookexpo.org

Monday, November 7, 2016

WillTveit.com | Buy - Sell - Invest


Will Tveit | Real Estate 

Tveit Tip #26:  Buyers - Pound the pavement! Check noise levels, traffic volume and neighborhood appeal, both during the day and night. Talk to the locals. Visit nearby shops and restaurants. Take time to know. [Will Tveit: Evanston Round Table | November 3, 2016]

Your Chicago & North Shore Real Estate Expert! 



WillTveit.com | Buy-Sell-Invest 
Dream Town Realty | Chicago & North Shore 
1567 Maple Avenue, Evanston, Illinois 60201 
Will@dreamtown.com | direct.312.498.8348