News About The Glen

Home sales in The Glen by neighborhood

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The Glen is an upscale residential and retail development in Glenview Illinois on Chicagoland‘s North Shore.  It is home to 1,255 privately owned residences in 9 distinct neighborhoods.  The Glen’s “main street” called Glen Town Center offers scores of restaurants and shops, as well as a movie theater, coffee shop, book store, and Kohl Children’s Museum.  The development also boasts a lake, park, recreation center, playgrounds, and two golf courses.  Recently I did an accounting of all home sales in The Glen in 2013 by neighborhood using MLS data, and here is what I found:

Cambridge is the development north of W. Lake, and it runs from Patriot Blvd to The Glen’s Metra train station.  It has 278 homes (townhomes, duplexes, two-flats, and single family homes).  14 homes sold in 2013 totaling $7,702,500, an average of $550,178.

Chapel Crossing is a development east of Patriot Blvd and south of Chestnut.  It has 168 single family homes.  9 homes sold totaling $9,283,750, an average of $1,031,527.

Glen Shore is a condominium development on the north side of Chestnut, nearly bordering Lehigh.  It has 31 units.  3 units sold totaling $917,500, an average of $305,833.

Landings is a development south of Chestnut and east of Chapel Crossing.  It has 143 single family homes.  8 homes sold totaling $7,110,000, an average of $888,750.

Patriot Commons is a development west of Patriot Blvd and south of Chestnut.  It borders The Glen Club golf course to the west. It has 68 townhomes and condo apartments.  1 home sold at $465,000.

Regency is the new Pulte development a quarter mile north of W. Lake and west of Shermer Rd.  149 townhomes and ranch villas (and 2 SFH) are planned.  All but 9 units have been sold as of 2.15.14.  29 sales totaled $13,397,485, an average of $461,982.

Southgate Single Family Homes is a development south of W. Lake, and it is bordered on the west by The Glen Club’s golf course.  The southern boundary is Independence Avenue.  It has 237 homes.  11 homes sold for a total of $13,037,000, an average of $1,185,181.

Southgate townhomes are in the confines of the Southgate development.  There are 62 units.  6 homes sold totaling $2,320,000 an average of $386,666.

Tower Crossing is a luxury townhome development bordering Glen Town Center on 3 sides.  It has 154 units.  20 homes sold totaling $13,673,900, an average of $683,695.

Obviously it was a very successful year for home sales in The Glen.  For information about homes for sale in The Glen, please contact me at 847-401-1802 or by email margaretludemann@gmail.com.

Margaret Ludemann, Glen resident and @properties Realtor

The Glen’s Tower Crossing townhomes saw a 6.1% increase in prices in 2013

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In a blog about a month ago I wrote about the substantial increase in sales of Tower Crossing townhomes in 2013.  Today I would like to tell you about the increase in prices.  Tower Crossing is a townhome development in the larger development called The Glen in Glenview, Illinois.  The Glen is home to several luxury housing neighborhoods, a “main street” called Glen Town Center with numerous shops and eateries, a lake, park, and two golf courses.  Tower Crossing has 154 stunning brick homes with 2 to 5 bedrooms and 3031 sq ft to 4105 sq ft, depending on model.

The developer began selling Tower Crossing’s luxury townhomes in 2003 and sold out by 2007. Nationally the housing bubble began to burst in 2005/06 with prices peaking in July 2006.  A steep decline followed.  2007, the year of the collapse of the sub-prime mortgage industry, saw the first year-over-year decline in home prices nationally since 1991.  Like the national downward trend, Tower Crossing suffered a sizable and rapid decline in home values.  From peak to bottom, Tower Crossing homes lost approximately 25% of their market value.

Homes in Tower Crossing currently sell in a range from the mid-$600,000’s to about $800,000 depending on size and model.  Prices in 2009 averaged $179.43 p/sq ft.  They rose to $189.02 in 2010 and stayed relatively flat in 2011 ($188.86) and 2012 ($186.88).  In 2013, however, prices in Tower Crossing rose 6.1% to $198.28 p/sq ft.  This represents an increase of 10.5% since 2009.

The Tower Crossing rental market also saw an increase in prices.  11 MLS-listed townhomes rented in 2013 vs. 12 in 2012 and 13 in 2011.  The range of prices paid in 2013 was $3400 to $4400 p/month.  The average rental price paid p/sq ft (using 1 month rental price) was $1.24 compared with $1.15 in 2012, a 7.8% increase.

Tower Crossing is a very popular development in The Glen, and it had a great 2013 in terms of home sales and prices.  If you would like more information about Tower Crossing please contact me at 847-401-1802 or margaretludemann@gmail.com

Margaret Ludemann, Glen resident and @properties Realtor

Regency at The Glen, only 9 homes left to sell

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For anyone interested in new construction in The Glen, you still have a chance to purchase a Regency townhome.  But only 9 homes remain to be sold among the 149 homes in the development.

Regency at the Glen is an upscale housing development in The Glen, the premier lifestyle community on Chicagoland’s North Shore, located in Glenview, Illinois.  There are 1,255 privately owned residences in 8 neighborhoods (Cambridge, Chapel Crossing, Glen Shore, Landings, Patriot Commons, Regency, Southgate, and Tower Crossing).  The Glen’s “main street” is called Glen Town Center, and it offers scores of restaurants and shops, along with a book store, movie theater, art gallery, spa, and the ever popular Kohl Children’s Museum.  The Glen has its own Metra train station with service to and from the city in less than 45 minutes.  O’Hare International Airport is approximately 20 minutes away by car.

Regency, built by Pulte Homes, is located off of Shermer Road, about a quarter mile north of West Lake Avenue.  It has 4 models of townhomes, 2 models of ranch villas (duplexes), and 2 single family homes.  The villas and single family homes sold out long ago, and only 9 townhomes remain. 8 of the available homes are of the Providence model with 1,835 sq ft.  Each of these has 2 bedrooms + loft except one unit which is configured with 3 bedrooms + loft.  All of the 2 bedroom homes are end units with windows on 3 sides.  The Providence models are priced between $416,990 and $488,525.

1 Freeport model may still be purchased.  It has 1,523 sq ft, and it is priced at $368,690.  It offers 2 bedrooms + loft.  All of the available homes may be customized with numerous upgrades.

To tour a Regency townhome you may call me, Realtor Margaret Ludemann, at 847-401-1802 or email me at margaret.ludemann@gmail.com.

Margaret Ludemann, Glen homeowner and @properties Realtor

2013 sales increase in Southgate on The Glen

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Single family home sales in the Southgate neighborhood increased in 2013, from 9 in 2012 to 13 in 2013.  Further, 3 additional homes went under contract that had not closed by year end.  More impressive is the improvement from 2009 when only 2 single family home’s sold.

Before going further, here’s a little Southgate 101.  Southgate is a housing development in The Glen in Glenview, Illinois on Chicago’s North Shore.  The Glen is an upscale residential and retail community with 9 named neighborhoods, one of which is Southgate, and a shopping & dining “main street” called Glen Town Center.  Southgate has 299 homes of which 237 are luxury single family homes.  Many of these homes border The Glen Club’s 18 hole championship golf course.

Let’s look at the prices of the Southgate homes that sold in 2013.  (Street name, followed by size in square feet, and price.)  I do not provide specific addresses out of courtesy to the new homeowners. 

Kittyhawk ,  4618,  $1,250,000

Independence,  4618,   $1,430,000

Bennington,  3456,  $1,000,000

Kittyhawk, 4080,  $1,250,000

Saratoga,  4080, $1,279,000

Midway,  3814,  $1,315,000

Independence,  4164,  $1,350,000

Saratoga,  3805,  $1,140,000

Cabot,  4700,  $1,310,000

Independence,  3498,  $1,160,000

Bennington,  3796,  $1,100,000

Independence,  4232,  $972,000

Kittyhawk,  4253,  $1,215,000

Digging deeper into the sales data we find two other pieces of very good news.  First, no sales listings expired or were cancelled due to an inability to find buyers.  By contrast, 4 listed single family homes in Southgate failed to sell in 2012 and 1 rental listing did not find a renter.  Second, Southgate had no distressed properties listed for sale last year.  A distressed property is either bank owned or it involves a short sale; and they typically sell for well under market value.

Southgate’s sales performance is consistent with what occurred throughout the country in 2013.   The number of homes sold nationally increased by 9.1%; Illinois home sales increased 18.9%; and in the Chicago primary Metropolitan Statistical Area (+ 23%).  Glenview home sales increased 19%.  I see another strong year for home sales in The Glen and in Southgate in 2014.

Margaret Ludemann, Glen homeowner and @properties Realtor

847-401-1802    margaret.ludemann@gmail.com

Westage at the Glen…one step closer to reality

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The Glenview Planning Commission just approved a new housing project to be constructed in The Glen and called Westgate at The Glen Townes.  It will go before Glenview’s board in February for final approval which is expected.

The Glen is the North Shore’s premier lifestyle community located in Glenview, Illinois approximately 20 miles north of downtown Chicago.  It offers luxury homes (single family homes, row homes, townhomes, condos, duplexes, and two-flats) as well as a park, lake, walking trails, health club, movie theater, two golf courses, and a quaint main street called Glen Town Center filled with shops and restaurants.  Westgate will be the most recent – and perhaps the last – new construction community in the Glen.

173 homes are planned for this E.R. James Partners project.  As I’ve written in previous blogs, 34 will be single family homes and 139 will be row homes and townhomes.  I’ve recently learned more about the homes to be offered, particularly the sizes.  The single family home models, all with first floor master bedrooms, will range between 1,885 sq ft and 2,464 sq ft; and the architectural designs will be offered in New England shingle, French Country, and Old English.  The attached housing models will range between 2,037 sq ft and 2,980 (a mix of first and second level master bedrooms),and their architectural styles will be offered in New England shingle, Classic Revival, Old English, Craftsman, and Federal.  All homes will have three bedrooms and two-car attached garages.

Prices have not been announced.  There is some speculation (only speculation at this point) that the builder will attempt to price the homes roughly in between those in the Regency and Tower Crossing developments in The Glen.  Timeframes for construction and sales have not been announced.  E. R. James Partners has a sterling reputation for quality, as evidenced by its very upscale Glen development called Southgate on The Glen.  I believe the Westgate development will be very popular.

Margaret Ludemann, resident of The Glen and Tower Crossing Realtor  margaret.ludemann@gmail.com, (847) 401-1802