A second home in Chicago is a great solution for buyers who commute from the suburbs, travel to Chicago often for business, or out-of-towners who simply want a place to call their own when visiting the Second City.
A high-rise studio has become available in the coveted Gold Coast neighborhood, a perfect location for a second home:
A Chicago home in the Gold Coast puts you in the heart of everything you’d need during a short or long-term stay. This unit in particular is just a half-block from the CTA Red Line, 3 blocks from the beach, 2 blocks from the boutiques, bars and restaurants of Rush St., and just a short walk to the chic shopping on Michigan Avenue.
Located on the 10th floor, this Gold Coast studio has floor-to-ceiling windows that fill the home with natural light and open it up to panoramic city views. It is also move-in ready with brand new carpet and paint.
The features of the building itself offer more conveniences for a buyer looking for a in-town Chicago home. A pool and exercise room are both in the building, along with a party room and a bike room. This Clark St. building is also staffed with a 24-hour doorman, and is pet-friendly.
The low assessments and marvelous neighborhood and low assessments of this studio make it a great opportunity for those looking for Chicago real estate that offers both elegance and affordability.
As Chicago continues to prove itself as a hub for domestic and international business, first-class entertainment, and luxurious real estate, travelers from near and far will flock to the city for business or pleasure. If you’re from out of town, purchasing a Chicago home or Chicago condo to serve as your “home away from home” during visits will ensure doing business here is convenient and entertainment can be enjoyed to the max—whether you’re coming from an Illinois suburb or across several oceans.
A second home in Chicago will cost less than other major cities—San Francisco, Los Angeles, New York or Washington, D.C. Buying into Chicago’s most exclusive buildings can cost anywhere from $700-$1,200 per square foot. For example, a home in one of the cities most opulent residences, the Michigan Avenue Ritz-Carlton, could only cost about $1,200 per square foot. But that doesn’t mean Chicago new construction won’t offer value later on. The Ritz-Carlton residences are part of a chic, boutique building backed by its name—which plays a big role in the future value of such properties. One-bedrooms in the Ritz-Carlton have already sold out. One has even been resold, and it’s easy to see why. For a second home-buyer, a Chicago condo in a building like this is typically in a walkable neighborhood, near high-end shopping and in the heart of business activities so you’re close to work and play.
If you’re not in the city for business, a second home will make spending time in the city convenient and accessible. Buying a Chicago condo in a dense neighborhood like Lakeview, River North or the Gold Coast, and near the attractions you might frequent makes staying in the city easier than ever. Looking at Chicago real estate as a second home could mean you have a readily available vacation waiting for you anytime you need it.
Does your global schedule keep you from spending time in the Windy City? Don’t let trips abroad prevent you from owning a Chicago home or Chicago condo. Get a property caretaker to look after your home when you’re away, and you’ll never have to give up your Second City digs.
Many industries have been affected by the economic crisis, but the property caretaking industry is doing just fine. According to the New York Times, right now “housesitting” is booming. In fact, subscriptions to The Caretaker Gazette, a Web site that matches home owners with caretakers, has nearly 11,000 paid subscribers, which is up more than 10 percent from the last two years.
This idea is perfect for anyone who loves Chicago, but can’t be here all the time. Or, for anyone who only loves Chicago in the summers. Either way, caretaking is a win-win situation for all parties involved. Home owners can rest assured their abode is being properly maintained while they’re away, and housesitters get the excitement of living in an new and fascinating place in one of the world’s best cities. Most caretakers are willing to travel and have a knowledge of household maintenance.
Home owners have been known to pay their caretaker a mid-five-figure salary, but living in a beautiful luxury Chicago home (rent free) is also a major perk. When looking for a property caretaker, be sure they come with references. As the New York Times article pointed out, you don’t want a “party animal” living in your house.
If the idea of property caretaking gave you a new perspective on luxury Chicago real estate contact agent Sheldon Salnick to find out about Chicago homes for sale. (312) 498-5080 or firstname.lastname@example.org.
Chicago real estate owners know that Chicago is one of the best places in the world to call home, and that luxury Chicago real estate is amazing value as compared to New York and Los Angeles real estate markets. Therefore, with the market in its current state, there is no time like the present to start looking around for a second home, perhaps in a warmer climate like Florida or Arizona.
Finding a location you love is probably the hardest decision when purchasing a luxury home. Where do you want to be during the harsh winter months in Chicago? If you don’t mind the cold and enjoy skiiing, then you might want somewhere such as Colorado or the Poconos in Pennsylvania. Other good places to buy right now if you’d prefer a warmer climate would be Florida, where you can find luxury ocean front properties, Las Vegas with all the entertainment of the strip, or Arizona for desert heat and amazing golf courses. Also, consider your needs in regard to space – if the kids are out of the nest, maybe a two bedroom condo on the beach would be perfect. On the other hand, if you have a large family coming along on your vacations, try a luxury lodge in Colorado or four bedroom home in Arizona.
Last but not least, consider the long term investment you’re making – even though the market might currently be down, is your new property in a area where real estate typically holds its value? Working with a local real estate agent to understand your new city and its neighborhoods (and getting a second opinion from your trusted Chicago real estate agent) is essential. Since house prices are relatively low all over the country, the question to ask really is where do you see youself vacationing or escaping during Chicago’s winter months?