Teddy's Topics!

Real Estate & Some Fun Facts

I had to got to the bank the other day to get checks so I can pay taxes for what felt like the 80th time this year. And I noticed a sign that was extremely concerning to me to have up at my bank. It said, "not responsible for lost or stolen items". Now, at a restaurant or bar, that makes sense to me, you are responsible for your own belongings. But at a bank!? Are you kidding me! The place that literally has all of my money and they're telling me they're not responsible if it gets stolen! I'm suddenly way less interested in heist movies.

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Song of the Week

California - Phantom Planet

(I'm rewatching The OC and it is the best theme song ever made)

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Today in History: Al Capone is Sentenced

On this date in 1931 legendary Chicago Gangster, Al Capone, was sentenced to 11 years in prison for tax evasion at age 33 (can't blame a guy for trying eh?). Capone rose to prominence during prohibition and was the co-founder of The Chicago Outfit, AKA the Chicago mafia. He was loved in Chicago and had great political connections as well as police connections which led him to feel untouchable. He was known as a modern day Robinhood and gave to many charities in Chicago. The peoples love for him went downhill after the St. Valentines Day Massacre where seven gang rivals were murdered in broad daylight. This event ultimately brought the federal authorities on him and led to his eventual sentencing for tax evasion. He was diagnosed with syphilis in early on in prison and neurosyphilis which deteriorated his brain and ultimately killed him. Fun fact, he is the reason we have expiration dates on milk!

A Look at the Market: Lincoln Park

Today were going to look at some data over the past 5 years for Lincoln Park. I work a lot with first time buyers and have an excess amount of clients that look in Lincoln Park. I have had first time buyers look for an array of different types of units, but the most common are two bed, two baths, so that is what we are going to look at!

Median Sales Price:

Homes for Sale:

For the first one, I like to use median sales price over average because this helps us get rid of the anomolies that sold for an insane amount of money and the horrible ones that sold for nothing. These graphs are pretty much opposite due to simple supply and demand. There was a lot more supply 4-5 years ago compared to now and obviously that has increased pricing a ton. This past year we have had historically low inventory and have seen home prices increase because of it. When interest rates first started rising in late 2022 a lot of people thought prices would go down and held off on purchasing. However, the exact opposite happened, everyone with low interest rates has not wanted to lose their rate and in turn created a housing shortage. Since that time, for these specific units, prices have increased about $30,000.

Coming to the Market Soon: 1459 W. Superior unit 2W

This week we are going to West Town to take a look at 1459 w. Superior unit 2W. This unit hit the private market on Tuesday and is a stunning, modern, 3 bed, 2 bath simplex, located right off Chicago and Ashland. It is currently listed at $675,000 which in my opinion is priced great for a unit of this size and quality. What stood out most for me was the advertising style. At first glance it is a typical listing, professionally photographed with a typical listing description. But if you scroll through all the photos you'll notice a giant dinosaur and teddy bear in a lot of the photos. I thought this was hilarious and in a competitive market like this one it definitely helps make this home stand out against the others. 

For those that don't know, the private market is something that only Realtors have access to. It is a place where Realtors will post their listings before actually going live. This way they can test their market price without actually being on the market which helps their overall "market time". It's also a good way to let people know of a listing coming to the market soon even though the home might not be ready for showings or photos yet.

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Interested in Buying or Selling?

Schedule a consultation with me by simply inquiring on this website!

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Quote of the Week

"The U.S. Senate is considering a bill that would tax botox. When botox users heard this, they were horrified. Well, I think they were horrified, it's difficult to tell." - Craig Ferguson

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Trivia!

Thank you to everyone who replied to my last newsletter, the correct answer was: John D. Rockefeller was the first American to ever become a billionaire!

Where am I?

Halloween is coming up! The tradition of Halloween started in the Celtic regions of Europe (Ireland, Scotland, and parts of Northern France) and eventually moved to the U.S.. Where did the first "modern" Halloween celebration take place?