housing sales

Prices increased in The Glen in 2014

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Home prices in The Glen (in Glenview, Illinois on Chicago’s north shore) rose again in 2014. While I haven’t completed my analysis of the entire Glen, I do have information about two of its neighborhoods.

Tower Crossing is the development adjacent to Glen Town Center (the shopping and dining “main street) with 154 luxury townhomes. If you’ve been to the Glen you will remember seeing them because the homes are 4 story, brick homes of Georgian architecture. These homes are large, ranging in size from 3031 sq ft to 4105 sq ft. In 2014 prices increased 3.9% after rising over 6% in 2013. The average price p/sq ft in 2014 was $206.01 compared with $198.28 in 2013. In the prior 3 years (2010 through 2012) prices were relatively steady at approximately $188 p/sq ft.

Prices also rose in Southgate. This development contains 237 large single family homes and 62 row homes. Among the single family homes 55 border The Glen Club’s 18 hole golf course, and 182 do not. I have analyzed the prices of single family homes. Prices for the homes that are not on the golf course increased 7% in 2014 to an average of $315.42 p/sq ft compared with $294.61 p/sq ft in 2013. There was only 1 home sold on the golf course, so I did not reach any conclusion as to pricing trends for golf course properties. Home sales (the number sold) in both developments were down last year, but I’ll save that discussion for a future blog.

When I complete my analysis for the entire Glen I believe I’ll find the same thing…home sales down, home prices up. That’s essentially what occurred in the real estate market nationally and in Glenview.

If you are interested in purchasing a home in The Glen, please give me a call. I am a long time Glen homeowner and a leading Realtor in the Glen and greater Glenview.

Margaret Ludemann

@properties Realtor 847-401-1802   MargaretLudemann@gmail.com

21 homes for sale in The Glen

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There are currently 21 beautiful homes for sale in The Glen, in Glenview Illinois. The Glen is the premier lifestyle community on Chicagoland’s North Shore with over 2,000 luxury homes, and a vibrant community of 17 restaurants, numerous shops and boutiques, and a movie theater in Glen Town Center.  The Glen also offers 2 golf courses and Kohl Children’s Museum.

6 of the current listings are single family homes. The price range is from $869,000 to $2,795,000. They are located in the following Glen neighborhoods: Southgate, Chapel Crossing, Cambridge, and Landings.

15 listings are of attached properties (townhomes, duplexes, and condos), and they range in price from $561,000 to $810,000. They are located in the Tower Crossing, Southgate, Westgate, Regency, Patriot Commons, Glen Shore and Cambridge neighborhoods. In addition to these homes being sold by current homeowners, there are new construction homes available in Westgate and Patriot Commons.

A description of each neighborhood may be found at www.homesintheglen.com. A description of each property for sale may be found on the same website.  There are also numerous rental homes available.

I am a long time Glen homeowner and an award-winning Realtor affiliated with @properties, the #1 producing real estate company in Glenview and on the North Shore. If you may be interested in living in The Glen, please email me at margaret.ludemann@gmail.com or call me at 847-401-1802.

Margaret Ludemann

6 Tower Crossing homes now for sale! (6 for rent, too)

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Three months ago I wrote that only 1 Tower Crossing home was available for sale. My my, how the world has changed in 3 months. Since then 5 homes have been newly listed, and a total of 6 homes are currently for sale.

Tower Crossing is a 154 unit luxury townhome development in The Glen in Glenview, Illinois. To anyone who has ever visited the Glen’s restaurants or shops, Tower Crossing will be remembered as the homes bordering Glen Town Center on 3 sides. They are memorable, too, because they are 4 stories high with beautiful Georgian architecture.

There are 6 basic models in Tower Crossing and some major variations such as end units and bridge units. The homes are large, ranging in size from 3031 sq ft to 4105 sq ft. The price points of Tower Crossing homes range between roughly $625,000 and $900,000.

Now is a great time to be in the market for a Tower Crossing townhome because 4 of the models are for sale. There are 2 Astorias for sale, and 1 of them is an end unit. Astorias offer 3210 sq ft, and the end unit adds another 390 sq ft. 3 Blackstones (384 sq ft), an Omni 3625 sq ft) and a Drake end unit (3075 sq ft) are also on the market.

There are 6 homes also on the rental market ranging in prices between $3950 per month to $4500 per month.

The beauty of Tower Crossing lies not only IN the homes, but also outside. You can walk to 25 eating establishments, numerous boutiques, 2 golf courses (including The Glen Club), a movie theater and a book store. And if you walk across the street (Patriot Boulevard) you’ll find Battery Park, Lake Glenview, the Glenview Park Center, walking and biking trails, tennis courts and more. Residents of Tower Crossing will tell you that living here is all about the lifestyle. It’s the best combination of urban and suburban living.

If you are interested in learning more about Tower Crossing or anywhere in The Glen, please contact me at margaretludemann@gmail.com or 847-401-1802. I am a Tower Crossing resident and a leading Glen-area realtor.

Margaret Ludemann, @properties

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

Chapel Crossing at The Glen… a great place for families

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Chapel Crossing is an upscale housing development in The Glen, in Glenview Illinois. It consists of 168 luxury homes, all single family detached.

It was constructed 13 years ago when The Glen was just getting under way. The developer was Kimball Hill Homes which also developed nearby Tower Crossing. Homes in Chapel Crossing range in size from 2300 sq ft to 4200 sq ft with most being toward the high end of this range. The architecture is traditional, and the interior designs are elegant yet comfortable. All have large beautifully landscaped yards and detached garages.

The development is named after the lovely chapel at the corner of Patriot Boulevard and Chestnut Avenue which had served as the place of worship for the Naval Air Station Glenview which is the former occupant of the land upon which The Glen now resides. The Chapel still stands, though now it is used mainly for weddings, community events and a pre-school.

The main entrance into Chapel Crossing is from Patriot on Independence Avenue. Kimball Hill Homes wished to create a grand boulevard of large, stately homes; and the firm succeeded masterfully. The boulevard has a broad, wonderfully landscaped median with many park-like amenities including benches, play areas, and large trees.

The real estate market in Chapel Crossing is stable. As the primary homeowner demographic is defined by families with children, the annual turnover of homes is relatively small. In 2013, only 9 homes were sold (5.3% of the development.) Home prices range from about $900,000 to roughly $1.25 million. Prices last year averaged $1,031,527.

Chapel Crossing resides across Chestnut Avenue to Attea Middle School, the Glenview Park Center, Little Bear Garden,  and Gallery Park. It is but a short walk to Glen Town Center, The Glen’s main shopping and restaurant area, and to two impressive golf courses.

If you would like to learn about living in Chapel Crossing please email me at margaret.ludemann@gmail.com or call at 847-401-1802. I am a Glen homeowner and an award-winning realtor affiliated with @properties.

Margaret Ludemann