While sales of condos and single-family homes around the Chicago region fell sharply during 2007, some neighborhoods continued to see strong demand. Waukegan was one neighborhood that saw one of the best years in recent memory in 2007.

According to data from the Chicago Association of Realtors, a total of 89 condos were sold in the neighborhood during the year, up slightly from 86 units sold during 2006. However, this is the highest total sales seen in the neighborhood in more than 16 years.

However, despite the slight jump in demand in the neighborhood, the average market time for units on the market also increased during the year. It took condo owners and developers an average of 107 days to find a buyer in the neighborhood during 2007. This is an increase of 9 days from the previous year, and the first time that the average turnover time broke through the 100-day barrier in the neighborhood.

The increase in inventory of condos on the market led to flat prices during the year. The average sales price for condos sold in 2007 was basically unchanged, moving up just under $300 from the previous year. Buyers can continue to find plenty of affordable North Shore Chicago Condos For Sale in Waukegan.

Technorati Tags: Chicago Condos For Sale, North Shore Condos, Waukegan Real Estate Update

Deal Alert!

Every once in a while, we get those Omaha Steaks mailers - the ones that promise about 50 pounds of meat and fixings for the low, low price of just $50. I’m not big on ordering food through the mail - I like to see it before I buy it. But…sometimes it can be really tempting. For example, the most recent mailer promises four 5 oz. top sirloins, four 4oz boneless pork chops, four 4oz chicken breasts, TEN 4 oz steak burgers, two 4.5oz stuffed sole with scallops and crabmeat, eight gourmet franks, and four stuffed potatoes, for $50. Seriously? That’s a lot of food.

But still, it’s through the mail, right? What if your package comes and sits in the spring sun on your front porch while you’re at work? No one wants to spend $50 on a case of spoilage, right? So my husband gets the bright idea to see if perhaps the local Omaha Steaks storefront will honor the deal. Guess what?

They do!

I called over to the Wilmette shop, located in Edens Plaza off Lake and Skokie Rds., and was told that you simply bring in the flyer and they’ll honor the price. That’s one piece of junk mail that’s worth something! Steak this weekend!

Omaha Steaks
WILMETTE
Edens Plaza Shopping Center
3232 Lake Avenue, Suite 220
Wilmette, IL 60091

Phone: (847) 853-6180
Fax: (847) 853-6182
Store Hours: Mon-Fri 10-7, Sat 10-6, Sun 11-5

Technorati Tags: Wilmette shopping, Omaha Steaks, North Shore Chicago grocery shopping, North Shore Chicago grocery specials

Kimball Hill filed for Chapter 11 bankruptcy on Wednesday after several months of renegotiating the terms of loans with its lenders. The Rolling Hills-based company is the second large homebuilder to face bankruptcy. Neumann Homes, Inc. filed for bankruptcy late last year.

The company has debts totaling $631.9 million, according to court papers filed in the U.S. Bankruptcy Court in Chicago. The developer continues to seek investors to refinance the loans, but is facing one of the most difficult credit markets in recent years.

Kimball Hill has been hit hard by a sharp downturn in sales around the Chicago region. Sales in the Chicago suburbs fell by more than 20 percent in 2007. According to data from the Chicago Association of Realtors, a total of 44,937 homes were sold around the Chicago region during the year, down from 57,999 homes sold in 2006.

The company is still in negotiations with investors, and is looking to sell an equity stake to cover the outstanding loan balance and continue operations. President and CEO Ken Love said in a news release by the company, “We have had significant discussions with potential plan sponsors and our senior lenders already, and we hope to agree on a reorganization plan in the next 90 days.” According to the report, the company will continue to deliver homes despite the bankruptcy filing, including homes on the North Shore Chicago Real Estate market.

Technorati Tags: Chicago Real Estate, Chicago Homes for Sale, Kimball Hill Homes, North Shore Chicago Real Estate