Glen Town Center

Westgate at the Glen Update

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It has been a couple of months since I last blogged about Westgate, the new construction housing development in The Glen in Glenview Illinois. At that time I told you about the “reservation event” which allowed early registrants to receive more information about the proposed development and arrange appointments with developer E.R. James Partners to select home types and locations. Two months later the vast majority of homes have been sold, though many are still available. Home construction has not yet begun, though as you can see from the attached photo, the builder has initiated grading. Work on underground infrastructure should begin soon.

Westgate, which is located on nearly 30 acres of land at the northwest corner of W. Lake Avenue and Shermer Road, offers 173 luxury homes. There will be 71 row homes, 68 mews townhomes, and 34 single family homes with first floor master bedroom suites. The development will have professionally landscaped common areas; and it will provide nearly maintenance-free living.

The early interest in Westgate suggests that this will be a popular addition to The Glen which already has 8 lovely neighborhoods with a wide variety of home types including single family, townhomes, row homes, duplexes, two-flats, villas, and condo apartments. In addition to beautiful homes the Glen offers two golf courses, upscale shopping, and over 20 restaurants in Glen Town Center. A local Metra station gets residents into downtown Chicago in 44 minutes. The development is also convenient to O’Hare International Airport by car.

If you are interested in living in The Glen, please contact me at 847-401-1802 or by email, margaret.ludemann@gmail.com.

Margaret Ludemann, Glen homeowner and @properties Realtor

Real estate in The Glen: August lull, September to pick up

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I have a Glen-specific, proprietary website. In fact you may be reading this blog on that site. It provides information about real estate in the Glen (in Glenview Illinois)and allows visitors to search Glen listings. The search engine optimization firm that I employ provides the tech-marketing magic that brings prospective home buyers to the site; and I am provided with numbers of all kinds weekly.  These numbers show a late summer slow down in the Glen, which is seen nationally as well. In the 4 week period in May over 2,000 first time visitors came to my site. (This is a very POWERFUL tool!) The following 4 week periods declined by 7.6%, 6.7% and 10.9%. In the last two weeks alone (August 10 – 24) the number of first time visitors was down 35% from May. Looking at the site’s first time visitors in previous years shows this same pattern.

The good news for prospective home sellers in the Glen is that the number of first time visitors increases in September and then remains relatively even and strong until December. This trend is supported by my site’s prior-years data. So homowners thinking of selling, should be getting their homes on the real estate market soon to take advantage of the increase in buyer interest just around the corner.

But it’s not only buyers who take a real estate time-out in mid-to-late summer. The listings cupboard in the Glen is pretty bare right now, too. Of the 237 single family homes in the Southgate neighborhood, there is only 1 home listed for sale. The same is true in Tower Crossing, the large, 4 story brick townhomes adjacent to Glen Town Center. In that development there are 154 homes, but only 1 is listed for sale. At the Landings (formerly Concord) and Chapel Crossing neighborhoods (with 311 homes combined) there are only a couple of listings.

Spring interest among buyers is matched by sellers who want to take advantage of that peak selling season. People with children want to make their purchases and get moved in before the new school year begins. In mid-to-late summer interest drops as I’ve shown above; and smart sellers know this so many get their homes on the market in late winter/early spring; and conversely there are few new listings in mid-to-late summer or from Thanksgiving until early March.

Margaret Ludemann, Glen homeowner and @properties Realtor

MargaretLudemann@gmail.com   847-401-1802

Only 1 Tower Crossing home for sale, and it’s a great one

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Only one Tower Crossing townhome is currently for sale, at 1840 Admiral Court. Tower Crossing is a 154 luxury townhome development in The Glen, the north shore’s finest lifestyle community in Glenview, Illinois. Tower Crossing is an ultra-popular Glen development, owing its popularity to the homes’ stunning architecture inside and out, quality construction, and location.

These 4 story brick homes are huge, ranging in size from 3031 sq ft to 4105 sq ft. They border Glen Town Center (the Glen’s retail and shopping “main street”) making them particularly handy for shopping and dining.

1840 Admiral Court is a “Blackstone”, one of the most sought after models in the development. Blackstones offer 3840 sq ft, and they open to a large, professionally landscaped courtyard. In fact, each Blackstone model has both a deck and a covered patio facing this beautiful area.

It’s hard to find townhomes with 4 bedrooms, but that’s what you’ll find at 1840 Admiral Court, along with 2.2 bathrooms. You’ll also find a walk-thru butler’s pantry connecting the gourmet kitchen to the dining room. The kitchen offers granite counters, custom maple cabinets, and a large island. The spacious owner’s suite has a large bedroom, a lovely seating area, a private bath with a whirlpool tub and double sinks, and his/her walk-in closets.

1840 Admiral Court is offered at $785,000 which is a great price for this model. So if you may be interested in Tower Crossing, you should move quickly. There is only one for sale, and it’s a great home at a great price.

Margaret Ludemann

Tower Crossing homeowner and @properties Realtor  margaretludemann@gmail.com   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