
Lincoln Park: 1950 N Sedgwick | Lincoln Square: 4553 N Lincoln Ave | West Loop: 849 W Monroe
Northwest Chicago: 7280 W Devon | Evanston: 1567 Maple
Will Tveit | MBA - Broker - Realtor | @properties Christie's International Real Estate | Chicago - North Shore | www.willtveit.com | will@atproperties.com

⟰ $485,000 5-beds 3.5-baths 2,597 sq.ft.
4615 Elm Terrace, Skokie, IL 60076
Will Tveit | MBABroker - Realtorwill@dreamtown.com312.498.8348

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Beautiful flowering plants not only increase your curb appeal, they can also increase the enjoyment you take in your own home and yard. While some sections of the country have challenges when it comes to maintaining a colorful yard all year, there is a solution that nearly anyone can benefit from perennials.
Perennials are considered low-maintenance plants because once you plant them and they take root, they will “come back” year after year, for anywhere between two and 10 years. With perennials, it’s possible to plant a garden that shows color all year through. Technically speaking, trees and shrubs count as perennials, which is why we say that even people in colder climes can also enjoy the beauty of these hardy plants: think holly, viburnum and evergreen azalea. A blanket of snow can actually act as insulation for perennials, ensuring they’ll be back in full force the next year. The first season you put these plants into the ground is the most important to ensure a long life. You must care for them until their roots have time to establish. After that, flowering perennials do not need to be replanted each year; after their season ends, you can cut them back, water and mulch them, and wait for the next season to arrive. Like all plants, perennials need light, air, water, and nutrients. They are not completely maintenance-free! They do need to be watered, fertilized, weeded, and mulched, and eventually will need to be pruned and divided as well. When planting in the spring, perennials can go into the ground much sooner than delicate annuals. Perennials usually don’t suffer from frost damage, so technically you could plant them at any time of year as long as you can work the soil. Here are some basic guidelines to caring for perennials:
WillTveit.com | Buy - Sell - Invest
Will@dreamtown.com | 312.498.8834
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- Large Open & Airy Living Room
- 42" Custom Cheery Cabinetry
- Stainless Steel Appliances
- En-Suite Marble Master Bathroom
- Large Steam Shower
- Crown-Molding & Millwork
- Beautiful Hardwood Floors
- Mudroom w/ Side-by-Side Washer/Dryer
- Oversized Balcony + Huge Common Deck
- Garage Parking + Additional Outside Space
| CO-OP APARTMENTS | CONDOS | |
|---|---|---|
| Assessments | Co-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. |
| Financing | Down 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 Projects | Co-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 Ownership | Buyers 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 Approval | After 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 Taxes | Since 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 Units | Most 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 Fees | A 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. |
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