Just Listed - Skokie Split-Level Home | Will Tveit - Dream Town Realty

Open House - Lakeview Condo 3 bed 2 bath | WilTveit.com - Dream Town Realty

🏠 Will Tveit | Real Estate

Dream Town Realty  |  Chicago & North Shore

WillTveit.com  |  will@dreamtown.com  |  312.498.8348

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WillTveit.com  |  Buy - Sell - Invest

WillTveit.com  |  Buy - Sell - Invest

OffMLS Listing | 4 bed - 2.5 bath Buffalo Grove home | WillTveit.com - Dream Town Realty

Lakeview Condominium | Buyers - Investors | willtveit.com - dreamtown

WillTveit.com | Buy - Sell - Invest

will@dreamtown.com | 312.498.8348

WillTveit.com | Buy - Sell - Invest

will@dreamtown.com | 312.498.8348

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

REAL ESTATE: Chicago & North Shore

Co-op Apartments vs. Condos

	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.

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

5 Things to do this Weekend | dreamtown | Will Tveit - Real Estate

Loop Interior Architecture Walking Tour

Explore magnificent lobbies, corridors, and the underground Pedway system-this tour offers participants a view of the architecture and culture of downtown Chicago. Gain fascinating new insights on the history of these iconic Chicago interiors and learn about little-known shortcuts, with enthusiastic, knowledgeable guides who are ready to answer all of your questions. When: Fri Dec 23 Where: Chase Tower (10 S Dearborn St) Hours: 3pm – 5pm Admission: $26 More Info: eventbrite.com

Matzo Bash

A one-of-a-kind Christmas Eve gala, Matzo Bash is a great environment to cut loose, make new friends, and dance the night away. Enjoy premium cocktails, two levels of socializing, and wonderful people. This popular event is also a benefit for the Young Leadership Council of JUF, meaning that your fun time out also goes towards a great cause. When: Sat Dec 24 Where: Sound-Bar (226 W Ontario) Hours: 9pm – 5am Admission: $15 More Info: matzobash.com

Chicago Trolley and Double Decker Co. Holiday Light Tour

Celebrate the magic of the holiday season with this trolley-driven look at the city's grandest and most festive holiday light displays! This half hour, lightly narrated tour allows guests to gaze in awe at the meticulously crafted decorations in Chicago's Loop, River North, Gold Coast and Lincoln Park neighborhoods, including The Magnificent Mile and historic State Street. When: Now – Mon Dec 26 Where: John Hancock Center (875 N Michigan Ave) Hours: departs at 6pm, 6:30pm, 7pm Admission: $18 - $49 More Info: chicagotrolley.com

DaVinci Machines Exhibition

This magnificent exhibition showcases 60 interactive and scaled machines from the mind of legendary Renaissance thinker Leonardo DaVinci. The main exhibits on display include the "bicycle," "spring powered car", "hang glider" and the "air screw", a precursor to the helicopter! For the first time ever, the secrets behind Leonardo's legendary robotic lion are also revealed. When: Now – Sat Dec 31 Where: Water Tower Place (835 N Michigan) Hours: Mon - Sat 10am – 9pm, Sun 11am - 6pm Admission: $15.95 suggested donation More Info: shopwatertower.com

Die Fledermaus

Johann Strauss' bubbly tale of merriment, revenge, and mistaken identities is performed at Evanston's Cahn Auditorium, featuring a score that sparkles and fizzes with comic irony. A husband and wife meet at a party neither is supposed to be attending- and he unwittingly woos his disguised mate! This lighthearted tale of revelry makes a lively antidote to the midwinter blues. When: Mon Dec 26 – Sun Jan 1 Where: Cahn Auditorium (600 Emerson St, Evanston) Hours: Mon & Wed 2pm, Th-Sat 8pm, Sun 2pm Admission: Start at $34, 1/2 price for ages 25 and under More Info: light-opera-works.org ❄ ❆ ❅ ❄ Will Tveit Broker  🏠  Realtor Dream Town Realty Chicago & North Shore will@dreamtown.com  www.willtveit.com 312.498.8348 ❆ ❅ ❄ ❄