Michael Shenfeld Inducted to Berkshire Hathaway HomeServices KoenigRubloff Realty Group Hall of Fame

NEWheadshot croppedCHICAGO, ILLINOIS – Berkshire Hathaway HomeServices KoenigRubloff Realty Group has announced that Michael Shenfeld has been named to the company’s Hall of Fame. The company’s second annual ceremony was a stunning event at MK restaurant in September, celebrating 45 agents who have reached this rare echelon of success. Michael Shenfeld was inducted in 2014 at the inaugural Hall of Fame event.

The Berkshire Hathaway HomeServices KoenigRubloff Realty Group Hall of Fame is an elite and distinguished group that represents the best of the best real estate professionals. Selected for achieving and sustaining high-level career performance, Michael Shenfeld has made significant contributions to the company and industry. Nancy Nagy and Michael Pierson, CEO and president of Berkshire Hathaway HomeServices KoenigRubloff Realty Group, respectively, welcome him into the Hall of Fame and congratulate him on his outstanding lifetime achievements.

New Price! Newer 5 Bedroom, 3.1 Bath Home in Roscoe Village – Audubon School!

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Click the image above for more information and photos of this home.

New on the Market: 2 Bedroom/2 Bath Move-in Ready Condo in the Heart of the South Loop

Rarely available, high floor, highly upgraded, bright 2 bedroom plus den, 2 bathroom condo in the heart of the South Loop with unobstructed views. This loft-style home features a gourmet cherry kitchen with 42” cabinets, granite counters, custom glass subway tile backsplash, stainless steel appliances and oversized island with breakfast bar. Open floor plan with 10 ft+ ceilings, exposed ductwork and gorgeous living/dining room, wired for surround sound, with amazing west views through the floor-to-ceiling windows with gas fireplace. Fully enclosed spacious master suite has 3 professionally organized closets, including walk-in. Marble master bath with walk-in shower, separate soaking tub and dual bowl vanity. Second bedroom is fully enclosed with frosted glass, custom paint and large organized closet. Versatile large den/3rd bedroom with french doors. Large balcony has room for grill and seating. Hardwood floors, custom shades and lighting, new carpet and paint. Prime garage parking $30k additional.

Please see the brochure for more information, or view the online listing.

Happy Labor Day!

Labor Day

The Shenfeld Group wishes you a very happy and relaxing Labor Day weekend! Labor Day is always celebrated the first Monday in September and was passed into national law as an observed holiday in 1894, marking the contributions workers have made to the strength, prosperity, and well-being of our country.

While you’re catching up on rest and relaxation this weekend, here are some noteworthy items you might have missed in Chicago this week:

  1. Wonder why traffic has been so bad on North Avenue and Webster this summer? It’s because Cortland Street has been closed to prepare for rebuilding the bridge over the north branch of the Chicago river, a project slated for 2018. The street is scheduled to reopen in November, but while the street has been closed, you may have missed the demolition of the A. Finkl & Sons steel plant. The demolition is clearing the way (literally) for the site be sold. The site is said to be considered for a billion dollar renovation. Crain’s Real Estate Daily has more on the story:Sterling Bay is close to acquiring the recently razed A. Finkl & Sons steel mill in Lincoln Park, where the Chicago developer could invest at least $1 billion on one of the largest North Side real estate redevelopments in generations.

    A group of former Finkl executives who own the coveted 28-acre site along the Chicago River are in advanced talks to sell it to Sterling Bay, according to people familiar with the deal. The price could not be determined.

    Sterling Bay already has deals to buy two adjacent sites around the river and Webster Avenue, the Guttman leather tannery and Lakin General tire recycling properties.

    If the Finkl acquisition is completed as expected, the combined three sites would provide Sterling Bay an approximately 40-acre parcel of open land along the otherwise densely populated Lincoln Park, Bucktown and Logan Square neighborhoods.

    “It’s always been a special site due to its proximity and its size,” said Mike Drew, a principal at Chicago-based Structured Development, a developer of several properties in the area. He is not involved in the deal with Sterling Bay.

    “You just can’t assemble something like that, which is what makes it such a huge opportunity,” he said. “Depending on the use that is negotiated (with the city), you could have 10,000 to 15,000 jobs at that location, whether it be office, (research and development), bioresearch or a mixed use that the current zoning does not allow.”

    A major redevelopment of the site has been anticipated since the property’s owners—a group including former company CEO Bruce Liimatainen, former president Joseph Curci and James B. Finkl, son of former CEO Charles W. Finkl—began demolishing the former steel plant’s buildings last year to clear the site for a sale. Read the rest of the story at Crain’s Chicago Business.

  2. Rahm Emanuel to seek $500 Million Property Tax Hike. In order to shore up pensions for police and firefighters, and to begin construction for new schools, Emanuel is seeking to raise property taxes by $500 million next year. He’s also hoping to collect another $100 million for the city by imposing garbage collection fees. And love Uber? Well, get ready for an extra $1 per ride. The Chicago Sun-Times has the story:

    The $500 million property tax increase will cost the owner of a home valued at $250,000 roughly $500 more each year. The garbage fee — widely viewed as a back-door property-tax hike — will be a monthly assessment of roughly $11 to $12 per household.

    The mayor’s 2016 budget also will include a tax on e-cigarettes and other smokeless tobacco products — roughly equivalent to the $7.17 tax slapped on a pack of cigarettes purchased in Chicago — and a $1 a ride surcharge on Uber and other ride-hailing services.

    Sources said the surcharge will be part of a broader package of reforms to level a playing field that has allowed ride-hailing companies to siphon business from taxicabs.

    A penny-an-ounce “fat tax” on sugary soft drinks aimed at curbing obesity might also make its way onto the smorgasbord of tax and fee hikes served up by the mayor, depending on the outcome of a public hearing spearheaded by the tax’s champion: Ald. George Cardenas (12th), chairman of the City Council Committee on Health and Environmental Protection.

    The 60 percent increase in the city’s property tax levy, along with a garbage fee, ride-hailing surcharge and smokeless tobacco tax, make up the largest collection of tax and fee hikes Chicagoans have ever seen. Read the rest of the story at the Chicago Sun-Times.

South Loop Developer, AMLI Residential, Buys Divvy Station for its Residents

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A Chicago real estate developer paid the city $56,000 to install a Divvy bicycle-sharing station outside two of its apartment buildings in the South Loop, officials are expected to announce Friday.

The agreement with AMLI Residential marks the first private purchase of a Divvy station since the bike-sharing program was launched in 2013, officials said. City officials called the deal a “private donation.”

AMLI covered the cost of installing the 15-dock station at Clark and Ninth streets and provided 10 bikes, according to the Chicago Department of Transportation.

The station, which is already open, is part of the 476-station Divvy system and is operated for public use like all other stations, officials said. The only difference is that the station will have an AMLI logo added soon, officials said.

The station would likely have been located elsewhere if AMLI had not approached the city, CDOT spokesman Mike Claffey said.

To read the full article, visit The Chicago Tribune.

Chicago Real Estate by the Numbers: July Market Snapshot

Released by the Chicago Association of Realtors, this infographic provides a quick snapshot of Chicago housing data. Compared to this time last year, the number of closed sales for single family homes and condos is up, as well as median sales price. The percentage of housing inventory is down for both property types.

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If want to know more about the Chicago housing market, contact Michael Shenfeld of The Shenfeld Group:

Michael@TheShenfeldGroup.com

Real Estate Consultant The Shenfeld Group, LLC.

Top 1% of Chicago Association of REALTORS®

Berkshire Hathaway HomeServices KoenigRubloff Realty Group

1800 North Clybourn Avenue Chicago, Illinois 60614

Amazon Set to Open South Side Chicago Distribution Center

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Amazon.com is getting closer to more customers in Chicago, with a deal to set up a South Side distribution center that will likely extend its reach in the city for ultra-fast deliveries.

Seattle-based Amazon leased about 150,000 square feet in a warehouse at 2801 S. Western Ave. in the Heart of Chicago neighborhood, according to people familiar with the deal.

The e-commerce giant’s deal follows its recent opening of a North Side distribution center on Goose Island and an announcement that it plans to employ 1,000 full-time workers at a larger facility in Joliet.

Until the 51,970-square-foot Goose Island warehouse opened in July, Amazon didn’t have any distribution centers in Illinois. But as customers demand faster and faster home deliveries, Amazon and other online retailers are expected to continue adding “last mile” facilities in or near highly populated neighborhoods.

Read more at Crain’s Chicago Business.

Developer to build West Loop apartment on fomer Carmichael’s Steakhouse site

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After receiving an alderman’s blessing for a 120-unit apartment building on the site of the former Carmichael’s Steakhouse, a Northbrook developer sold part of the West Loop property to a Chicago real estate lawyer who plans to build 50 units there.

A venture led by Steven DeGraff, principal at Much Shelist, submitted plans with the city last month for the four-story development at Aberdeen and Monroe streets. The venture acquired the property at the end of July from an affiliate of Michigan Avenue Real Estate Group, a Northbrook-based company whose investors include Chicago Bulls and White Sox owner Jerry Reinsdorf.

DeGraff wants to build 50 apartments on the west end of the property bordered by Aberdeen on the west, Rundell Place to the north and Monroe to the south. Michigan Avenue has retained ownership of an adjoining parcel just to the east where it plans 70 apartments, said Chicago zoning lawyer Thomas Moore, who represents DeGraff.

Read more at Crain’s Chicago Business.

Chicago Weekend Events – August 14 – 16, 2015

It’s Thursday, which means it’s time to plan for the weekend in Chicago! We’ve got a list of events for you to choose from, but the highlight, of course, is the Air & Water Show. Read along for more events taking place in Chicago this weekend:

Chicago Air & Water Show

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The Great American Lobster Fest at Navy Pier

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Festa Italiana – An Italian festival on Taylor Street at Ashland Ave:

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Edison Park Fest

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Glenwood Avenue Arts Fest

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