Britta Rivera Venture

CHICAGO REAL ESTATE NEWS & MORE

CITY OF CHICAGO BRONZEVILLE PARADE OF HOMES

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Exciting things are happening in Bronzeville!  If you haven’t toured the neighborhood in a while…new construction is booming and many are taking notice.  The City of Chicago is included, and has invested in the community by implementing The Bronzeville Parade of Homes.

Bronzeville’s convenience of travel to the loop, lake, Hyde Park, University of Chicago, major thoroughfares, and public transportation makes it the perfect location for home buyer’s.  It appears the City of Chicago, Developer’s and a lot of new home buyer’s tend to agree.  Sales of new construction homes has increased significantly over the past few years, and doesn’t appear to be slowing any time soon.

How was the Parade of Homes established?  Well, back in 2016, with support of Alderman Pat Dowell, the City of Chicago’s Department of Planning & Development announced a request for experienced Developer’s to submit qualifications for developing luxury single-family homes for the Parade of Homes.  Many participated, but only a handful of Developer’s were selected.  This includes; Wade Homes LLC (aka Wade Enterprise & Associates, Inc), R & D Builders, Click Development LLC, and Greenline Homes, LLC.

The Parade of Homes was implemented to stimulate redevelopment in the Grand Boulevard neighborhood, which has been considered a hidden gem for many years. Quoted directly from the 3rd ward website, “The Parade itself will launch in the 4500 block of South Prairie Avenue. To meet the needs of the home-buyer market, the developers have additional lots (“Link Lots”) which will be sold with the respective developer’s Parade home built on that lot selected by the buyer.  Forty-two new market rate homes are projected to be built.”

In touring the homes and being a part of the sales & marketing team for Wade Homes, LLC, I can personally attest, the homes are beautifully designed and even include green solar homes for the energy-efficient conscience buyer’s.   Many of  homes also appear larger than the typical Bronzeville new construction homes, and the finish level is of high quality and exceptional design.  Homes range from 4BR’s – 6BR’s and pricing starts at $575,900 and ends in the upper $600’s.

 

This week is the official launch of The Parade of Homes.  Buyer’s will have the opportunity to tour 4 new model homes located on the 4500 block of Prairie.  Open House hours will be Friday 6/1/18 – Sunday 6/3/18 from 12pm – 5pm and a VIP Ribbon Cutting Ceremony will be held on Thursday 5/31/18 from 12pm – 2pm.  Mayor Rahm Emanuel is scheduled to be onsite for ribbon cutting ceremony.   Anyone looking for an amazing opportunity, to secure a new construction home in Bronzeville, is encouraged to stop by and take a tour!

If you’re interested in additional information regarding the City of Chicago Parade of Homes, please contact britta.rivera@bairdwarner.com.

 

Written by; Britta Rivera

Published 5/28/18 

May 28, 2018 Posted by | BRONZEVILLE HOMES, CHICAGO NEWS, CHICAGO REAL ESTATE, NEIGHBORHOOD SCOOP, REAL ESTATE NEWS, Uncategorized | , , , , , , , , , , , | Leave a comment

(VIDEO) $7 MILLION IN GOLD COINS & BARS FOUND BY REALTOR; MAN DIES WITH NO WILL

It’s good that the housing market has picked up.  Otherwise the Realtor in Carson City, Nevada may have thought twice about returning his findings.  When Walter Samaszko, Jr. recently passed away, the real estate agent was hired to sell his home.  To his amazement he found $7 million worth of gold coins and bars left behind in Samaszko’s garage and throughout his home.

The realtor said it took multiple trips with a wheel barrel to get it out of the home and was more gold than he had ever seen.  Believe it or not, the man did not have a Will and no wife or kids so his extremely lucky cousin is expected to inherit it all!

Well, the moral of the story is to make sure you prepare a Will before you die.  And…Real Estate Agents are trustworthy and ethical; although sometimes ranked below Attorneys!  Congrats to the honest Realtor for giving us all a GOOD NAME!

Darn…too bad he’s not related to me…I could have used that gold!

LOOKING FOR A GREAT REALTOR IN CHICAGO?  PLEASE LOOK ME UP:). http://brittariveraventure.wordpress.com/2011/07/16/britta-rivera-venture-aligns-with-koenig-strey-real-living/

Read full story herehttp://www.huffingtonpost.com/2012/09/17/walter-samasko-recluse-dead-7-million-gold-coins_n_1891067.html

September 22, 2012 Posted by | Uncategorized | , , , , , , , | Leave a comment

NEW CHICK-FIL-A OPENS IN BOLINGBROOK, IL 9/6/12

BOLINGBROOK residents seem thrilled about the addition of a new Chick-Fil-A restaurant in the neighborhood.  The grand-opening was held on September 6, 2012 and dozens camped out for a freebie.  The “First 100” who stayed at the location until 6 a.m. Thursday, received gift certificates for 52 combination meals.

The Village of Bolingbrook made the list of Best Places to live in 2010 published by CNN Money.  As the Bolingbrook area continues to grow, so does the expansion of eateries and shopping.o their decision to open a new store in the area comes as no surprise.  As a long-time resident of Bolingbrook…I have to agree with it being a great place to live!

News sources report that no protests were planned after the recent controversy regarding same-sex marriages.  In my opinion, business owners should keep their personal feelings separate and focus on operations, if they want to stay successful.  While some may protest their position by not supporting the new chain, the chicken sandwich is undeniably tasty.

The new Chick-Fil-A is located at 245 N Weber Road, in front of Meijer grocery store…http://www.chick-fil-a.com/Locations/Openings.

LOOKING TO SELL YOUR BOLINGBROOK HOME?  CONTACT A REAL ESTATE PROFESSIONAL…https://brittariveraventure.wordpress.com/2011/07/16/britta-rivera-venture-aligns-with-koenig-strey-real-living/

September 8, 2012 Posted by | Uncategorized | , , , , , , , , | Leave a comment

DIXON, IL: “LOST LAKE” HOME OFFERS LAKE VIEWS!

DIXON, IL has recently been in the news for things other than housing, but this charming community has a lot to offer.  Incredible homes can be found at the “Lost Lake” subdivision, which surrounds a lake with a beautifully landscaped backdrop.

This amazing 5 bedroom home is affordable and is situated on a double lot, with amazing lake and park view  The spacious tastefully decorated home, includes an outdoor pool with “resort-like” amenities and large deck with stunning views.  It is the perfect destination for homeowners who desire a vacation setting, or a family retreat.

If you are interested in viewing this home, watch this video, or contact Britta Rivera Venture at brivera@koenigstrey.com.  This is an opportunity you will not want to miss….quick closing and fully furnished residence is available.

Priced at only $239,900!

May 9, 2012 Posted by | Uncategorized | , , , , | Leave a comment

ROSIE O’DONNELL SELLS CHICAGO HOME FOR $147K LESS; ONLY ONE YEAR LATER

It appears Rosie O’Donnell had an extremely short residency in Chicago.  The Tribune reported that she sold her home for $2.103 million, which is $147,000 less than she had paid for it last year.  She purchased it from an executive at Harpo Studio, when she joined the OWN network, to help Oprah boost ratings.

As we all know, The Rosie Show failed miserably and she is now headed out of our wonderful city.   Although she lost money on her home sell, and her show is over, at least she found an Injury Attorney who could afford it.

Didn’t she know it’s best to rent until your job is secure?  I guess she was confident it would last…oh well, she has enough cash to take a loss.

April 24, 2012 Posted by | Uncategorized | , , | Leave a comment

WHAT IS PUBLIC ACT 94-1049? WHO PAYS OUTSTANDING ASSOCIATION DUES?

Real estate listings often state that the buyer of certain foreclosed or distressed properties may be responsible for PUBLIC ACT 94-1049.  Many buyers have asked what this means to them when purchasing of this type of housing.  Therefore, listed below are guidelines established when the market began to decline.

If you are considering buying a short sale or foreclosed property, you should read and understand this legislation.

TIPS ON SELLING A SHORT SALEhttps://brittariveraventure.wordpress.com/2013/07/07/tips-on-selling-a-short-sale-how-best-to-get-bank-approval-is-now-a-good-time/TIPS ON BUYING A SHORT SALEhttps://brittariveraventure.wordpress.com/2012/01/31/2012-tips-on-buying-a-short-sale-be-prepared-to-wait/

This information was obtained via the internet.

Condominium Legislation Effective in 2007

The State Legislature routinely amends the Illinois Condominium Property Act.  Here is a listing and analysis of new legislation that have effective dates in 2007.

Note that my analysis of Item 1, just below, has been revised as of 8/21/2007, as understanding of the legislation has been expanded.

1. Association Entitlement to Assessments After Foreclosure (Revised as of August 10, 2007)

Public Act 94-1049, effective January 1, 2007, adds a few new wrinkles to the interaction between foreclosures and condominium associations.

For a number of years there has been a push on from the condominium community to pass legislation that would entitle condominium associations to some level of priority over foreclosing mortgagees (usually identified as “lenders”) with regard to unpaid assessments. This legislation is a step in that direction, although, in my opinion, an uncertain one.

The new law adds a new section to the foreclosure law relating to the notice of sale to be published in a foreclosure (not usually relevant to condominium associations which rarely take a unit to foreclosure sale) and also two new Subsections (Subsections (4) and (5) to Section 9(g) of the Illinois Condominium Property Act (the “Act”)). Neither new Subsection is, in my opinion, especially well drafted, and so questions of interpretation will be many.

Subsection (g)(4) attempts to give a very limited right of priority to associations for unpaid assessments after a foreclosure. But Subsection (g)(5) will impact managing agents by requiring changes to both the 22.1 letters (at sale) and the assessment letters (given at closings and refinancing) in circumstances where the lender is later selling the unit to a 3rd party.

The new Subsections (g)(4) and (g)(5) state:

(4) The purchaser of a condominium unit at a judicial foreclosure sale, other than a mortgagee, who takes possession of a condominium unit pursuant to a court order r a purchaser who acquires title from a mortgagee shall have the duty to pay the proportionate share, if any, of the common expenses for the unit which would have become due in the absence of any assessment acceleration during the 6 months immediately preceding institution of an action to enforce the collection of assessments, and which remain unpaid by the owner during whose possession the assessments Accrued. If the outstanding assessments are paid at any time during any action to enforce the collection of assessments, the purchaser shall have no obligation to pay any assessments which accrued before he or she acquired title.

(5) The notice of sale of a condominium unit under subsection (c) of Section 15-1507 of the Code of Civil

Procedure shall state that the purchaser of the unit other than a mortgagee shall pay the assessments and the legal

fees required by subdivisions (g)(1) and (g)(4) of Section 9 of this Act. The statement of assessment account issued

by the association to a unit owner under subsection (i) of Section 18 of this Act, and the disclosure statement issued to a prospective purchaser under Section 22.1 of this Act,

shall state the amount of the assessments and the legal fees, if any, required by subdivisions (g)(1) and (g)(4) of

Section 9 of this Act.

Subsection 4 is intended to give condominium associations the right to collect up to 6 months of unpaid assessments if the property is conveyed in certain circumstances. Interpreting Subsection 4 in the light most favorable to associations, I think it means as follows:

1. If a unit is sold at a foreclosure sale to the foreclosing mortgagee, then the 6 months of assessments are not due to the Association as part of that sale. But if the foreclosing mortgagee had obtained possession of the unit during the foreclosure (through receivership proceedings or otherwise), then the foreclosing lender WILL have to pay the up to 6 months of assessments as part of the foreclosure sale (if the Association has started collection proceedings, as described below). And if the purchaser at the foreclosure sale is NOT the

foreclosing lender, but is a 3rd party (maybe even a junior mortgagee other than the association), then that purchaser must pay the up to 6 months of assessments at the foreclosure sale (again assuming the Association has started collection proceedings as describe below). Note that situations in which a 3rd party buys a unit at a foreclosure sale are very rare. Also note that it is even rarer for a mortgagee to take possession of a unit while the foreclosure is ongoing (through receivership or otherwise).

2. Once the foreclosure sale is complete, or the mortgagee has otherwise taken title (through deed in lieu or consent or strict foreclosure proceedings), then whoever the mortgagee (now owner) sells the unit to will have to pay the 6 months of assessments.

The conclusion in 2, above, is consistent with the provisions of the last sentence of Subsection 5 when it speaks of issuance of statement of assessment or a 22.1 letter to a prospective purchaser being required to state how much is owed as a result of provisions of, among other things,

Subsection 4. Such items have no place in a foreclosure, but only in a sale to a third-party. But even if the “correct” person is buying, the association still is required, under the statute, to have taken certain actions ahead of time. In order for an association to get the common expenses (up to 6 months), the association has to start an action to collect. Does this mean a “joint” forcible action (possession and money)? Does this mean a counterclaim in the foreclosure?

Does this mean a regular contract action? Any of the above? It is unclear.  One interpretation is that it is best to wait until the last possible minute in the foreclosure and then file the forcible or counterclaim, or other collection action.  That way there is the greatest chance that at least 6 months of assessments will be due, and will be remaining unpaid.  After all, if suit is filed to collect only 3 or 4 months expenses, then the association may be cheating itself of a few extra months’ assessments if the arrearage later gets up to 6 months or more. But note that since associations are always named as party defendants in foreclosures, the association will have to file a pleading (including maybe a counterclaim) in the foreclosure at the required time, regardless of how much is owed.  So maybe a new strategy will be to file an answer and affirmative defense in the foreclosure and not file a counterclaim until the last minute before entry of the foreclosure judgment. But that strategy, at first glance, runs the risk of resulting in the association not being included in the foreclosure judgment of the lender (who has its own timetable), with possible adverse consequences if the foreclosure sale raises a surplus. Just one more unanswered question, I guess.

As for Subsection (g)(5), that will have immediate impact on associations and managing agents

on and after January 1, 2007. Put aside the first sentence of the Subsection, which sentence will

really have application only to foreclosing lenders in the context of the foreclosure itself.

Although, it is to be noted that sentence reinforces the fact that Subsection 4 is not intends to

require a payment of assessments from the foreclosing mortgagee, but rather only from a 3rd

party purchaser. The second sentence requires that Section 22.1 statements and assessment

letters (under Section 18(i) of the Act) state the amount of assessments and the legal fees, if any,

required by Section 9(g)(1) and (4) of the Act. Note that (g) (4) says nothing at all about legal

fees. It applies only to common expenses. So how did legal fees get into this picture? I cannot

tell.

Also note that this new legislation does not amend either Section 22.1 or Section 18(i). So there

is no cross-reference in either of those Sections to the language that must be added as per this

new legislation. You must simply know it is there.

At first view, it would appear that the language that must be added to Section 22.1 letters and

Section 18(i) assessment letters should read something like this: “This unit was purchased by the

Seller as the mortgagee at a foreclosure sale. At the time of the conclusion of the foreclosure

sale, the Association had instituted an action to collect unpaid assessments from the prior owner

(borrower). As of the date of the institution of that action, the unpaid assessments then owing on

the Unit were not less than $______________, (which amount is equal to at least 6 months of

assessments as then assessed) and the amount of legal fees and court costs incurred in connection

with that collection action was $___________, which together total $_____________. Under

765 ILCS 605/9(g)(4), said total is now due and owing on this Unit, to be paid by the Purchaser.

This amount is in addition to any other assessments, special assessments, late charges or other

charges that may be due on this Unit from the Seller.”

Information about this new law will be updated as the situation warrants.

March 27, 2012 Posted by | Uncategorized | , , , , | Leave a comment

2011 TOP TEN WORKOUT SONGS FOR DECEMBER; ACCORDING TO RUN HUNDRED

If you are in the process of working off that holiday turkey, the list of most popular workout songs for December has just been released. According to votes placed at Run Hundred–the web’s most popular workout music blog, the Top Ten songs are listed below, so get out your gear!

READ MORE via 2011 TOP TEN WORKOUT SONGS FOR DECEMBER; ACCORDING TO RUN HUNDRED.

December 3, 2011 Posted by | Uncategorized | , | Leave a comment

CHICAGO: OLD TOWN VILLAGE CONDO FOR SALE; 2BR ONLY $239,900

If you are searching for a great value in Chicago’s Old Town Village neighborhood, this amazing two-bedroom, one-and-a-half bath is available for purchase!  Sunlight fills the living areas through bay windows, there is also a private deck off the large master bedroom and reserved parking space is included.  This charming condominium is one level with no stairs.  It is conveniently located is near shopping, dining, I90 expressway and Gold Coast!

Specially priced at $239,900, makes this a great value in the heart of the city.  If you would like a tour please call 312.475.4548 to schedule your appointment.

Search for other great deals in Chicago by viewing incredible homes or register here for your FREE list of available residences.  For more information on 1115 N. Crosby, visit this link.  

CHICAGO REAL ESTATE NEWS

November 12, 2011 Posted by | Uncategorized | , , , , , , | Leave a comment

CHICAGO: FREE SHORT SALE EDUCATIONAL SEMINAR

Short Sales are a trend in the Chicagoland area and many experts expect this to continue for years to come. Many struggling homeowners have heard the term “Short Sale”, but are unsure exactly how it works. In an effort to educate sellers on the process, a FREE Short Sale Seminar is being held Sunday, November 6, 2011 from Noon – 2PM at City Point Lofts located at 110 E. 23rd. St. Chicago, IL.

SEE DETAILS…(IF YOU MISSED THIS INCREDIBLE SEMINAR….EMAIL US FOR INFORMATION ON UPCOMING SEMINARS AT BRITTA.RIVERA@COMCAST.NET)

CHICAGO: FREE SHORT SALE EDUCATIONAL SEMINAR; SUNDAY11/6/11 NOON – 2PM.

October 18, 2011 Posted by | Uncategorized | , , , , , , | Leave a comment

2011 VIDEO: NEW TRADER JOE OPENS IN SOUTH LOOP, EXCITEMENT FILLS THE NEIGHBORHOOD

The new Trader Joe’s grocery store has finally opened in Chicago’s South Loop at the corner of Roosevelt and Wabash.   It is located on a well-traveled corner and was very much-needed to offer more shopping alternatives, to the thousands of area residents.  The upscale grocery chain has a huge following and typically receives rave reviews.

Above video footage of the grand-opening, shows the excitement felt by many neighborhood residents and 2nd Ward Alderman Bob Fioretti.  It is amazing to see how the opening of a grocery store can bring so much joy to so many. 

This location should ensure Trader Joe’s success, but it will also bring heavy competition to the Jewel and Whole Foods.  Trader Joe replaces Sams Wine & Spirits at 50 East Roosevelt Road.

Happy shopping!

Searching for a great deal on a Chicago home? Start viewing incredible homes or register here for your FREE list of available residences.

September 11, 2011 Posted by | Uncategorized | , , , , , | Leave a comment

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