Yearly Archives: 2014

Paul Martis from Coldwell Banker Commercial NRT recently finalized the lease of Suite 25 at 2605 W. 22nd Street in Oak Brook to CardConnect International, a merchant services company.

Illinois home sales inched higher in October and median home prices continued upward with a statewide year-over-year increase of 6.0 percent, according to the Illinois Association of REALTORS

Today, Representatives Jan Schakowsky, Luis Gutiérrez and Mike Quigley sent Federal Housing Finance Agency (FHFA) Director Mel Watt a letter asking that Fannie Mae and Freddie Mac not sell foreclosed properties in specific Chicago neighborhoods until a meeting is held to ensure continued access to affordable housing in those neighborhoods. The letter is attached. The Representatives issued the following statement regarding their request

Tighter inventory was a factor driving home prices higher in September while home sales showed an annual decline, according to the Illinois Association of REALTORS®.

Governor Pat Quinn today broke ground on the $70.5 million Illinois Veterans Home at Chicago. The 200-bed facility will be the fifth veterans’ home in the state and the first in Chicago. Today’s action is part of Governor Quinn’s longstanding commitment to honor and support the men and women who have served our nation.

REALTOR® Jim Kinney, ABR, CRB, CRS, GRI, of Chicago has been installed as the 2015 President of the Illinois Association of REALTORS®. He is Vice-President of Luxury Home Sales for Baird & Warner in Chicago.

Illinois home prices rose again in July, marking nearly two years of annual gains. Home sales dipped as tight credit standards and lower, but improving inventory levels continue to affect the market, according to the Illinois Association of REALTORS®

U.S. Representative Randy Hultgren (IL-14) this week voted to support two bills which will relieve community banks from excessive regulations and protect their ability to lend to Illinois homeowners. H.R. 4042, the Community Bank Mortgage Service Asset Capital Requirements Study Act of 2014, and H.R. 5148, the Access to Affordable Mortgages Act of 2014, both passed the House Financial Services Committee (FSC), of which Rep. Hultgren is a member.

Illinois home sales reversed course in June with statewide home sales experiencing a slight year-over-year gain for the first time this year. Home prices continued to climb and marked the 22nd consecutive month of annual increases, according to the Illinois Association of REALTORS

U.S. Senator Dick Durbin (D-IL), Illinois Governor Pat Quinn, Chicago Mayor Rahm Emanuel and Cook County Board President Toni Preckwinkle today announced that the Chicago area has been awarded a total of $31.475 million in funding through the U.S. Department of Housing and Urban Affairs’ (HUD) Community Development Block Grant Disaster Recovery Program. This funding was made available through the FY2013 Sandy Supplemental Appropriations Bill, passed by Congress last year, and is part of a third allocation for communities that are continuing recovery efforts following severe storms and flooding that began on April 18, 2013.

Westwood Financial Corp. (WFC), one of the largest privately held owner-operators of retail properties in the United States and headquartered in Los Angeles, has announced that Joe Caputo & Sons, a family-owned and operated fresh-market grocer, has opened as the new anchor, occupying 66,395 square feet, at WFC’s Sanders Court center in Northbrook, Ill.

As part of his ongoing budget review, Governor Quinn today announced that the state of Illinois had again cut property leases to save an additional $55 million by continuing to downsize the space it leases in the upcoming fiscal year. This brings the total savings accomplished since the Governor took office to $220 million in property leases through consolidation, elimination or negotiation – roughly the equivalent of space in Chicago's Trump

This Sunday, June 22, will mark the 70th anniversary of the GI Bill, which has given returning veterans a hand up with educational benefits, home loans and other services. The GI Bill has been one of the most successful pieces of legislation in our country’s history, growing our economy and helping veterans assimilate into civilian life. However, one glitch in the law is causing veterans to be denied the benefits they deserve

May Illinois home prices rose 8.3 percent and home sales decreased 9.4 percent compared to May 2013, while the trend continues of recent month-over-month sales gains, according to the Illinois Association of REALTORS®.

Today, Congresswoman Tammy Duckworth announced that the U.S. Department of Housing and Urban Development has awarded the DuPage Homeownership Center an $18,183 grant to support their efforts in providing a wide variety of housing counseling services to homebuyers, homeowners, low-to moderate-income renters, and the homeless. This funding will assist the DuPage Homeownership Center in improving financial literacy, expanding homeownership opportunities, providing accessibility to affordable housing, and preserving homeownership.