Buyers on the market for a luxury condominium in Evanston still have plenty of choices at Sherman Plaza, a new condominium building located at 807 Davis Street.

The most affordable unit currently on the market is a two-bedroom and two-bath condominium located on the fourth floor. This condominium offers a total of 1,385 square feet of living space, and is priced at $379,900. Other smaller two-bedroom units are priced higher than this fourth floor unit. For example, a two-bedroom and one-bath unit on the 20th floor is priced at $423,900.

The most luxurious condominium at Sherman Plaza, and one of the most luxurious penthouses on the market in Evanston, is unit 2402. This four-bedroom and three-bath unit offers a total of 3,591 square feet of living space. Residents will love the incredible panoramic views from every window. However, this unit doesn’t come cheap, and is priced at $2,495,000.

Don’t miss out on the chance to live in one of the most luxurious North Shore Chicago Condominium Developments. Sherman Plaza offers a full range of amenities, from garage parking to an environmentally friendly rooftop terrace with sweeping views to Chicago.

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Foreclosures continued to rise in July as many homeowners are unable to shoulder the costs of rising interest rates. According to data from Realty Trac, Inc, a California-based real estate firm, July foreclosures were up 55 percent from the same month last year across the nation.

However, the news is even worse for the Chicago region. In Cook County, the foreclosure rate jumped by 68 percent in July. According to the report from RealtyTrac, one in every 401 homes in Cook County are in some stage of foreclosure.

Meanwhile, slowing sales could continue to lead many more homeowners into foreclosure. A total of 20,679 single-family homes and condos were sold in the Chicagoland region during the second quarter, nearly 29 percent less than the total sales seen a year ago during the second quarter.

Lawmakers are working to give distressed homeowners relief from foreclosure. Congress is debating a bill that would offer the restructuring of loans with high interest rates to more manageable rates, which would help many people keep their home around the country. Those of us in the North Shore Chicago Real Estate market stand to benefit from these measures being debated in Congress.

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The Evanston real estate market may finally have reached bottom during the second quarter. Sales of single-family homes were stable during the period, after four straight year of steady declines.

According to data from the Chicago Association of Realtors, a total of just 116 new and re-sale single-family homes were sold in Evanston during the second quarter. This is a decline of just one unit from the same period last year. However, sales continue to languish at their lowest levels in more than 20 years in Evanston.

The real estate market did see a slight increase in the number of unsold homes sitting on the market. If you’re planning on selling your single-family home in Evanston, it will now take you an average of 135 days to find a buyer, up from 126 days a year ago.

However, a rising inventory of homes sitting on the market wasn’t enough to keep buyers from paying a premium for a home in the area. The average sales price jumped by 8 percent from the second quarter 2007, and could continue to climb if the market has indeed found its bottom. Buyers won’t have long to pick up deals on North Shore Chicago Real Estate in Evanston.

Technorati Tags: North Shore Chicago Real Estate, Evanston Homes For Sale, Chicago Homes