Tag: Real Estate (page 1 of 66)

Michael Jordan’s Suburban Chicago Lake Forest Mansion Fails at Auction

This Monday Former Chicago Bulls superstar Michael Jordan attempted to auction off his home in MJ 23Lake Forest Illinois located at 2700 Point Ln with a minimum bid of $13 Million and there were no takers. The home is Michael_Jordan_23_Bulls_Jersey_HD_Wallpaper56,000 square feet on three floors with 9 bedrooms, 5 fire places and sits on 7 acres. A guest house to rival most homes you and I would live in is included.
He lived in the home with his former wife and children who are now grown and have moved on. The home has a full size regulation basketball court and huge workout room that is like his own health club. Randy Brown was part of a group of former players who would go to his weight room and work out and play ball before they would even go to the official practice. They called the get together “The Breakfast Club” because his private chef would prepare meals for his cronies who have talked about the sessions they had enjoyed.
With a tennis court, wet bar, dry bar in ground pool and fire places indoors and out what more could you want? There are not many who could afford such a house and maybe that is why it did not sell? One problem is that it is located 3 miles from Lake Michigan and most homes getting anywhere near that price tag include beach access.
The home was once listed in the MLS at $29,000,000, dropped to $16,000,000 but still did not attract any offers. Do you think MJ is hurting for the money? I don’t think so. He is still one of the highest paid former professional sports figures with a fairly untarnished image unlike Lance Armstrong and Tiger Woods.
Imagine getting the commission on selling that house.
MJ’s House Video

800 Elgin, Optima Horizons, Evanston IL Northwestern Students

Today I closed a sale on 800 Elgin, the Optima Horizons unit 1509 a 2 bedroom 2 Bath Evanston Illinois condo steps from Northwestern University and all parties are very happy. Why is this, the 800 Elgin building is the favorite among students and facility in town because it has all the amenities and is right in downtown Evanston IL.
800 Elgin 2
There are restaurants all over, many shops, and public transportation is right at your finger tips. A great building with a door person, huge swimming pool, deck, exercise room, party room and management on site 5 days a week. If you want to learn more about 800 Elgin or any of the Optima communities of Evanston Illinois I suggest you visit 800 Elgin and take a peak.

The property we closed on today was for a buyer who invested to help his daughter a fine student at NU and she is a very excited young lady judging by the huge smile on her face.

Want to talk more about it? Call or click Coldwell Banker Evanston at (800) 858-7917 9:00 am to 9:00 PM and we can help make your dreams become reality.

800 Elgin Optima Horizons

The view of Evanston from this property

800 Elgin

Renting Is Not A Good Option Prices Are Rising, Buy Your First Home

The national average shows rentals are up about 3.9% this year. In our area of Evanston IL which is a College town rentals in areas close to public transportation, eating establishments, stores and general areas of interest are harder to come by. Incomes are not keeping pace with rent increases and that makes it even tighter for people who haven’t purchased property.

New York City, Miami, Los Angeles, San Francisco and Boston are the five most expensive rental cities and others are rising at sometimes an even higher rate the 3.9% mentioned. In the last year Houston, Miami, Boston, Tampa-St. Petersburg, Fla., and San Diego experienced the highest rent increases. As an example in the last year Boston has gone up 5.5%. save money

Forbes magazine reported this year that buying is much more affordable than renting in all of the 100 largest metro areas in the nation. According to mortgage lender Freddie Mac, buying is an average of 41% cheaper than renting nationwide.

This is a good reason to save up and make the plunge into home ownership. As we have all been told, the American dream is to be a home owner. Because of the rising rental prices renters should compare the price they are spending per year and getting nothing out of it compared to what it would really cost to become a home owner.

Please contact your local Realtor and ask for a comparison chart so you can learn for yourself. You will get it back when you sell.

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