Realtor

The Glen…urban living in the suburbs

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“It’s not just a home; it’s a lifestyle.” Over the years I’ve said this to scores of my home buyer clients who were considering the Glen, the luxury residential and retail community in Glenview Illinois. I include it in all of my marketing materials. And there’s good reason. You can find a nice home anywhere, but the Glen lifestyle is unique and wonderful.

Many years ago, as a young single woman just out of college, I moved to a condo at Division and Lake Shore Drive in Chicago. I loved living in the exciting urban setting of Chicago. I loved the restaurants, shopping, and the theaters. I loved North Avenue Beach. I loved the convenience of walking to the gym, the grocery store, the laundry, and the train. I loved meeting friends for a drink after work. I loved walking down Michigan Avenue with all of the people hurrying off to work or play. What a life!

There were downsides, too, of course. Traffic congestion. Noise. Waiting in lines. Holding my purse close and tight while walking in crowds. So with all of the benefits of urban living, there were some less than pleasurable things as well.

Fast forward to 2003. I’m married. I have a three year old son. I need to consider safety. I need to think about schools. But, like many city dwellers, I didn’t like the idea of living in the suburbs. But then I heard about the Glen, in the north shore community of Glenview. I was told that it was a perfect blend of urban life in a suburban area, and I decided to take a look. One look was all it took for me to fall in love with the Glen. My husband and I bought a townhome bordering Glen Town Center. I discovered that, like in the city, I could walk to everything…the movies, shopping, restaurants, fitness center, laundry, spa, book store, and the Metra train station. I found a buzz while walking along Tower Drive, just like I experienced in the city.

But unlike the city I found that I could also walk to two golf courses, outdoor tennis courts, quiet walking trails, Gallery Park’s large open spaces, Little Bear Garden, and Kohl Children’s Museum. I also learned about Glenview’s world-class schools. In short, I found an urban lifestyle in suburbia. It’s called the Glen. I call it perfect.

Margaret Ludemann, @properties Realtor

847-401-1802  margaretludemann@gmail.com

Million dollar homes in The Glen

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Of the 62 home sales in the Glen in 2014, 18 were for over $1,000,000. The Glen, on Chicago’s north shore in Glenview Illinois, is a luxury home residential development at the site of the former Naval Air Station Glenview.

There are several distinct neighborhoods in the Glen built by a variety of developers. Of these, three experienced $1+ million dollar sales last year: 3 were in Chapel Crossing, 4 were in Landings (formerly Concord), and 11 were in Southgate.

Southgate has the highest percentage of million dollar homes. In fact, of the 237 single family homes in the neighborhood, it is rare for a home to sell for under $1,000,000. The highest price paid for a home in 2014 was $2.2 million dollars, and it was in Southgate on property bordering the The Glen Club 18 hole championship golf course. Homes bordering the golf course have dramatic views, and the lots are larger than in any other area of Southgate and The Glen. The other ten Southgate homes with million dollar sales in 2014 sold for an average of $1,265,000. There are currently three Southgate homes listed for sale at over a million dollars: $2,795,000 and $1,799,000 and $1,689,000.

The four million dollar homes in Landings sold for $1,225,000 and $1,193,000 and $1,100,000 and $1,015,000, an average of $1,113,250.

The three million dollar homes in Chapel Crossing sold for $1,065,000 and $1,055,000 and $1,040,000, an average of $1,053,333.

Of the 18 Glen homes that sold for more than a million dollars in 2014 only 2 realtors sold multiple homes. There are more than 170 realtors in Glenview. I was fortunate to be among the three.

If you may be interested in purchasing a Glen home, please contact me. I am a long time Glen homeowner and a realtor affiliated with @properties.

Margaret Ludemann  

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

The Glen’s Glen Shore condos offer luxury and affordability

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The Glen in Glenview Illinois on Chicago’s north shore consists of privately owned homes, rental apartments, retirement communities and Navy housing. Of the 1,252 privately owned homes, occupied by 3,725 residents, you’ll find single family homes, townhomes, row homes, duplexes, two-flats and condo apartments. The largest of the various neighborhoods, Southgate, has 299 homes and 1,039 residents.

On the other end of the spectrum is Glen Shore, a luxury condo development with 31 units and 46 residents; and that’s my subject for today’s blog. Glen Shore is located at 2300 Chestnut Avenue, east of Attea Middle School, near Lehigh. It’s in the same area as Glenview State Bank. It is an attractive brick building with one, two and three bedroom units. The homes in the west side of the building have lovely views of Lake Glenview and Gallery Park which are the center pieces of The Glen.

One of the great attractions to Glen Shore is its proximity to the Glenview Park Center and Gallery Park. The park center offers a health & fitness center, indoor track, swimming pools, water park, a basketball court, and a senior center. Gallery Park has walking trails, tennis courts, playing fields, a lookout tower, amphitheater, Little Bear Garden, and fishing in Lake Glenview. Glen Shore is also equally convenient to the Glenview Train Station with Metra service to Chicago and Amtrak service to Milwaukee and the North Glenview/Glen Metra Station. Glen Town Center’s many shops and restaurants are also nearby.

The condos are beautiful units. One bedroom homes can be purchased in the $300s and larger unit pricing is in the $400s and $500s depending on size and view. The problem is that few come on the market due to the number and quality of homes and affordability. No homes sold in 2014, though three were sold in 2013.

If you may be interested in Glen Shore or other homes in The Glen, please contact me. I am a Glen resident and an award winning Realtor affiliated with @properties.

Margaret Ludemann, 847-401-1802  margaretludemann@gmail.com

Many neighborhoods and housing types in The Glen

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There are 1,255 privately owned homes in The Glen in Glenview, Illinois. I’m frequently asked questions about the Glen real estate market, and my answer often surprises people. I tell them that there is no Glen housing market. The fact is that there are ten real estate markets within the Glen development. Ten? Indeed, and here is what I mean.

The Glen is composed of ten neighborhoods built by several different developers. Each has its own unique characteristics. Different kinds of homes…such as single family homes, townhomes, row homes, duplexes, two-flats and condos. The homes are of vastly different sizes ranging from about 1200 to over 5,000 square feet. There is also great diversity in price points. They range from the mid-$300,000’s to well over $2 million. Because of these differences the demographics of Glen homeowners and prospective homeowners vary widely. Hence, ten unique Glen real estate markets.

The nine neighborhoods with completed homes (the 10th, Westgate, is currently under construction) are large…and small…and in between. By that I mean that, for example, Glen Shore has 31 homes while Cambridge has 244. Here is a list of the ten developments, along with the number of completed homes and home types in each.

Cambridge: 244 single family homes, townhomes, row homes, duplexes, and two-flats

Chapel Crossing: 167 single family homes

Glen Shore: 31 condo apartments

Landings: 143 single family homes

Patriot Commons: 68 completed townhomes and condo apartments; and more are under construction

Regency: 149 townhomes, attached villas (duplexes), and two single family homes

Southgate SFH: 237 single family homes

Southgate TH: 62 townhomes

Tower Crossing: 154 townhomes

The Westgate neighborhood will have 171 homes, a mix of single family, townhomes and row homes.

So you see, the great diversity of home types, sizes, and prices make The Glen an attractive choice for many different prospective buyers. If you are interested in living in The Glen, please contact me. I am an original Glen homeowner and a Realtor affiliated with @properties.

Margaret Ludemann

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

Positive economic environment for real estate sales

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The economic environment for real estate sales was positive through most of 2014, and that good news should continue in 2015. After a slow start in the first quarter 2014 due to the long winter, the American economy had the strongest 6 month performance in 11 years including a 5% growth rate on an annual basis in the 3rd quarter.

Job growth picked up steam in 2014. Nationally the seasonally adjusted unemployment rate fell to 5.6%, down from 7% a year ago and from its high of 10% in October 2009. Illinois unemployment dropped to 6.4% (through November 30), its lowest point since June 2008.

Interest rates remained low during the year. That was somewhat surprising as they were expected to rise in the 3rd and 4th quarters.

The Dow ended 2014 at 17,823, up 7.52% after a remarkable increase of 29.65% in 2013.

The economy is expected to be favorable for home sales in 2015…with growth picking up, unemployment continuing to fall, and mortgage interest rates remaining low (though moving up modestly later in the year). A week ago, mortgage rates hit their 20 month low. Freddie Mac reported the average 30 year fixed rate mortgage interest rate at 3.59%; and 15 year fixed rate mortgages averaging 2.92%

I see home prices rising again, in line with historical norms of 3% to 4%. The bottom line is that if you want to sell your home in 2015, you’ll probably get it done and at a better price than a few years ago.

Margaret Ludemann, @properties Realtor, homeowner in The Glen, Glenview, Illinois