@properties

Glenview’s Park District has so much for so many

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“Check your mailbox. The park district catalog is out today.” So said my neighbor when I ran into her this morning. For those who haven’t a clue what I’m writing about, here’s the deal. The Glenview Park District publishes a catalog prior to each season. It’s fantastic! It identifies all of the activities available through the district for the next season. For many Glenview residents this is a big day.

Our local park district is special. You can’t believe all of the things that it has to offer for kids and adults. In fact, there’s so much that the catalog is 96 pages long! You want sports? Well, take your pick…tennis, basketball, soccer, swimming, golf, ice skating, football, archery, fishing, wrestling, baseball, volleyball, gymnastics, Tae Kwon Do, karate, and lacrosse.

How about the arts? Drawing, painting, mixed media arts, ceramics, film, acting, dance, origami, calligraphy, floral design, guitar.

Health and fitness? Walking tracks, fitness club, swimming pools, yoga courses, exercise classes.

Science and technology? Computer classes, game design, robotics, and much more.

There are organized activities at Wagner Farm and the Grove Redfield Estate. The park district even has a wonderful pre-school.

Everything is organized by age groups, and as you can tell there’s something for everybody. Many of the sports, health, and fitness programs are right here in The Glen either in the Park Center or in Gallery Park. The Glen is much more than a place with great homes and shopping. It’s a lifestyle. And a big part of that lifestyle is the park district with its many activities and programs right here in our back yard.

Margaret Ludemann, @properties Realtor, 847-401-1802

Mid-Year analysis of Tower Crossing home prices

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Since I haven’t written about the Tower Crossing neighborhood in The Glen since February, I thought I would provide an update on pricing. Tower Crossing has 154 luxury townhomes ranging in size from 3031 sq ft to 4015 sq ft depending on model. Yes indeed, these are large homes! They reside in The Glen, the North Shore’s premier lifestyle community in Glenview Illinois. All homes are of brick construction, and they are 4 stories high. A particularly attractive benefit of living in Tower Crossing is that it borders Glen Town Center on 3 sides. GTC is The Glen’s main shopping and dining “main street”.

Like every housing development in the country, home prices rose rapidly between 2003 and 2006; then they dropped from 2007 until late 2012. Since then, they have recovered nicely.

2014 PRICES:

The price p/sq ft of the 3 non-distressed Tower Crossing homes that have sold in the first half of 2014 is $215.21. This was heavily influenced by an $850,000 sale, the highest price paid for a TC home in at least 6 years.

2013 PRICES:

The prices of the 8 homes that sold in the first half of 2013 averaged $195.78. Thus, Tower Crossing prices increased by 9.9% comparing the first halves of the two years.

PRICES 5 YEARS AGO:

In 2009 (during the heart of the real estate market collapse) Tower Crossing homes sold for an average of $179.43 p/sq ft. Thus prices have increased by 19.9% from 2009 to the first half of 2014.

Price appreciation in 2012 through 2014 has brought original homeowners back roughly to where they began in 2013. Most homeowners who bought in the 2005/06 timeframe still have some catching up to do on prices. Most who bought in 2009 through 2013 have realized a gain in the value of their homes.

If you would like to learn more about living in The Glen please call me at 847-401-1802 or send an email to MargaretLudemann@gmail.com. I am a long time Glen homeowner and an award winning realtor affiliated with @properties.

Margaret Ludemann

The next phase is now for sale at Patriot Commons at The Glen

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Surprise! The developer Toll Brothers has re-started construction of Patriot Commons at The Glen in Glenview Illinois. This townhome and condo development kicked off with huge crowds and many first day buyers several years ago. After completing much of the development Toll Brothers stopped construction when the real estate market collapsed. But now, with little fanfare, orders are once again being taken for new construction townhomes.

You’ve heard the real estate mantra, “location, location, location”. Well, Patriot Commons has one of the finest locations on Chicagoland’s North Shore. The development borders The Glen Club’s 18 hole championship golf course designed by Tom Fazio, and it is but a very short walk to Glen Town Center. GTC is The Glen’s shopping and dining “main street” where one can find wonderful restaurants, bistros, a pub and numerous retail stores and boutiques. It’s also only a block or two from Gallery Park, Lake Glenview and the Glenview Park Center with pools and a full health club.

Three townhome models will be constructed in this next phase of the development. For buyers looking for a first floor master bedroom, the Hargrove model fits the bill. It is a one level (first floor) home with two bedrooms, two baths, a lovely covered porch, and a below grade garage.

The Brantley model offers three bedrooms, three bathrooms, a study, loft, and balcony.

The Randall model is a more traditional townhome design with two levels. The first floor is the main living area with a living room, family room, dining room, kitchen and powder room. The second floor offers three bedrooms and two baths, one of which is located in the master suite.

Home prices range from the $400’s to the $700’s.  Construction will begin soon with anticipated delivery in 2015. At a future date the final building in the development will be offered for sale, and it will be composed of condos.

If you are interested in Patriot Commons please contact me. I am a long time Glen homeowner and an award winning realtor with @properties.

Margaret Ludemann

Phone: 847-401-1802

Email: MargaretLudemann@gmail.com

Glen real estate market strong. “Normal” by 2015/16.

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The residential real estate market in The Glen, Glenview, and elsewhere is in the early stages of returning to what we would recognize as normal, meaning relatively steady growth in sales and prices in most years.

Why? Well, consumer confidence has been trending up, and it is near a six year high. Interest rates remain low by historic standards. Inflation is low, the stock market has been moving higher (recently hitting an all-time high), the unemployment rate has fallen from 10% in October 2009 to 6.3% in April, and jobless claims recently hit at a 7 year low. While performance has fluctuated on a monthly and quarterly basis in each of these categories, the longer view suggests a positive environment for housing over the next several years.

This is how we got here: We had the unprecedented run-up in home sales and prices in the early-to-mid 2000’s, followed by the bust in 2007 through 2009. Steep declines were followed by less severe declines which were followed by modest improvement. Then came 2013, a year with booming sales and prices.

Sales in The Glen look strong again in 2014, though perhaps not at last year’s pace. Prices, too, continue to rise faster than normal, but they may not reach the levels of 2013. Are somewhat lower sales and price increases compared with red hot 2013 reason to worry? I would argue that for the longer term they are actually a positive sign. We’re moving toward an environment where most homes neither languish on the market for months on end nor sell immediately. This is positive because it is more sustainable. Hot markets are never sustainable. Weak markets eventually recover. We’re heading in the direction of moderate sales and pricing growth in most years, with a few bumps along the way which is…normal.

We’re not at normal yet. Home prices in The Glen are still on a strong recovery path; and we will make up a lot of lost ground this year. Then perhaps in 2015 or 2016 we’ll be back to a more sustainable real estate market, perhaps a little slower one year and a little faster the next, in line with the usual ups and downs of the economy and interest rates.

Margaret Ludemann

Glen homeowner and @properties Realtor

847-401-1802,margaretludemann@gmail.com

“It’s a Wonderful Life”…at Tower Crossing in the Glen

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Every now and then as I walk from my Tower Crossing townhome to Glen Town Center (all of one short block away) I half expect to see Frank Capra and Jimmy Stewart, the director and star respectively of the Christmas classic, It’s a Wonderful Life. Why? Well, it’s obvious. Living here is indeed wonderful. In fact, it’s as good as it gets.

The Glen, as most of my readers know, is an upscale residential and retail community on Chicagoland’s North Shore in Glenview Illinois. It is composed of several distinct neighborhoods with single family homes, condos, apartments, townhomes, two-flats, villas, and duplexes. At the center of it all is Tower Drive, Glen Town Center’s main street with scores of shops, restaurants, and entertainment venues. It’s also home to an annual art festival, antique auto show, and weekly outdoor concerts in summertime.

Surrounding Glen Town Center – literally SURROUNDING these lovely boutiques and eateries – is the Tower Crossing development, 154 striking townhomes, every home within steps of all the fun. These breathtaking 4 story brick homes, depending on model, offer between 3031 sq ft and 4105 sq ft of luxury living. The Georgian architecture, professional landscaping, superb floor plans, hardwood floors, and top-of-the-line everything make these among the finest townhomes to be found anywhere in the country…yet they are right here in lovely Glenview…convenient to downtown Chicago’s cultural and sports venues, Ravinia, the Botanic Garden, and O’Hare Airport.

But there’s even more. Within a very short walk of every Tower Crossing home you’ll find Battery Park, Lake Glenview, Little Bear Garden, Glenview Park District’s pools and health club, walking trails, and two stunning golf courses.

Life in Tower Crossing is indeed wonderful, I think even better than Capra’s fictional Bedford Falls. If you are interested in living Tower Crossing’s “wonderful life” please contact me. Not only do I live here, but I am an award winning Realtor who sells many of its homes. Tower Crossing townhomes sell for between $650,000 and $850,000.

Margaret Ludemann, @properties Realtor

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