Hope you all are surviving another chilly Chicago winter As we are already well into the month of January, things have really started to take off in 2012- Here are some highlights of the year so far:

1139 W. Wellington: SOLD!

1453 W. Oakdale: PENDING!

Recently, Chicago Magazine’s “Deal Estate” did a fantastic video feature on 1048 W. Oakdale in Lakeview. A gorgeous Victorian home nestled on 3 ½ city locks- This Take a look at the wonderful video feature here: http://www.chicagomag.com/Radar/Deal-Estate/January-2012/The-Queen-of-Terra-Cotta-Row/

Right now for the first time in decades, the mortgage rates for investment properties are so low it makes buying a property for renting purposes a smart investment. Investment properties create wealth and anyone can do it. Buy it to diversify your stock equity portfolio. Hire one of the many qualified competent management companies and without any inflation or growth, you can create equity just by having the renter pay you and you pay the bank. Let someone else pay off the mortgage! Sound good?

Let me help!

Joanne has been named a “Zillow All-Star”. The Zillow All-Star badge was created to recognize the top contributors of the Zillow community. All-Stars are active Zillow users who share their real estate knowledge and help others by contributing high-quality content!

Be careful, furnaces and AC condensers are a responsibility. HVAC systems have valves and vents that should receive regular maintenance. If you haven’t had anyone look at your HVAC recently, consider a preventative maintenance service. Call before the severe cold weather sets in and to prevent future problems and unwanted costs. Keep your cooling and heating system at peak performance by having a contractor do annual pre-season check-ups. Contractors get busy once summer and winter come, so it’s best to check the cooling system in the spring and the heating system in the fall. Check my vendor list for some great heating and AC contacts.

Maintenance Checklist
A typical maintenance check-up should include the following:

· Check thermostat settings to ensure the cooling and heating system keeps you comfortable when you are home and saves energy while you are away.
· Tighten all electrical connections and measure voltage and current on motors. Faulty electrical connections can cause unsafe operation of your system and reduce the life of major components.
· Lubricate all moving parts. Parts that lack lubrication cause friction in motors and increases the amount of electricity you use.
· Check and inspect the condensate drain in your central air conditioner, furnace and/or heat pump (when in cooling mode). A plugged drain can cause water damage in the house and affect indoor humidity levels.
· Check controls of the system to ensure proper and safe operation. Check the starting cycle of the equipment to assure the system starts, operates, and shuts off properly.
~Cooling Specific

· Clean evaporator and condenser air conditioning coils. Dirty coils reduce the system’s ability to cool your home and cause the system to run longer, increasing energy costs and reducing the life of the equipment.
· Check your central air conditioner’s refrigerant level and adjust if necessary. Too much or too little refrigerant will make your system less efficient increasing energy costs and reducing the life of the equipment.
· Clean and adjust blower components to provide proper system airflow for greater comfort levels. Airflow problems can reduce your system’s efficiency by up to 15 percent.
~Heating Specific

· Check all gas (or oil) connections, gas pressure, burner combustion and heat exchanger. Improperly operating gas (or oil) connections are a fire hazard and can contribute to health problems. A dirty burner or cracked heat exchanger causes improper burner operation. Either can cause the equipment to operate less safely and efficiently.
~Do-it Yourself Actions

· Inspect, clean, or change air filters once a month in your central air conditioner, furnace, and/or heat pump and more often if you have pets. Your contractor can show you how to do this. A dirty filter can increase energy costs and damage your equipment, leading to early failure.

Five Star Professional partnered with Chicago magazine to determine the real estate agents who provide exceptional service and overall satisfaction in the Chicagoland area. The Five Star Professional research team contacted peers, clients and industry experts who had experience working with a real estate agent. Those who participated, provided the name of the real estate agent and rated that individual according to criteria such as communication, integrity and customer service.

• The final list of 2011 Chicago Five Star Real Estate Agents is a select group, representing less than 2% of real estate agents in the area
• The 2011 Five Star Real Estate Agents do not pay a fee to be included in the research or on the final list
• Each real estate agent is screened against state governing bodies to verify that licenses are current and no disciplinary actions are pending. A panel of industry experts reviews the list before it is finalized. Safeguards are built into the review process to reduce the ability to influence the final list on basis of company affiliation.
• The inclusion of a real estate agent on the Five Star Real Estate Agent list should not be construed as an endorsement by Five Star Professional or Chicago magazine
• The research process incorporates a statistically valid sample in order to identify the real estate agents in the local market who score highest in overall satisfaction. Real estate agents are not included on the list unless their score is statistically valid.

Morningstar chief plans Lincoln Park mansion

By: Mary E. Morrison September 20, 2011

Joe Mansueto

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(Crain’s) — Joe Mansueto, the billionaire leader of Morningstar Inc., plans to build a mansion on multiple vacant lots just off Lincoln Park, according to people familiar with his plans.

Mr. Mansueto is buying eight townhome lots on St. James Place from Ricker-Murphy Development LLC, the developer of Lincoln Park 2520, a condominium and townhome project under construction at the intersection of Lincoln Park West and St. James, the people say. Mr. Mansueto plans to build a roughly 7,200-square-foot single-family home designed by Chicago-based Tigerman McCurry Architects on the lots, they say.

It’s difficult to accumulate more than two lots in the area, said Joanne Nemerovski, vice-president and broker associate with Prudential Rubloff Properties’ Lincoln Park office.

“Anything over four lots is almost unheard of,” she said.

Through a Morningstar spokesman, Mr. Mansueto declined to comment. Tigerman McCurry and Ricker-Murphy also declined to comment.

The Lincoln Park 2520 project, designed by architect Lucien Lagrange, will include a 39-floor condo tower, 19 townhomes and a 1.3-acre park, according to the project’s website. Eight of the townhome lots — those Mr. Mansueto bought — sit on St. James Place; the remaining 11 townhome lots are on Deming Place.

Mr. Mansueto founded Morningstar, a provider of investment research, in 1984. He also owns New York-based media company Mansueto Ventures LLC, which publishes Fast Company and Inc., and has a majority stake in the weekly entertainment magazine Time Out Chicago.

Forbes magazine estimated Mr. Mansueto’s net worth at $1.6 billion earlier this year. Last year, he pledged to donate half of his fortune as part of Warren Buffett’s Giving Pledge, a campaign to recruit the country’s wealthiest families to give the majority of their wealth to philanthropy.

A graduate of the University of Chicago, Mr. Mansueto and his wife, Rika, donated $25 million to the university for a new library, which opened earlier this year.

Mr. Mansueto has a condominium in a six-unit building on Lincoln Park West, not far from the site of the planned residence.

The area is highly desirable because of its proximity to Lincoln Park and the lake, said Ms. Nemerovski, who currently has a listing on 3.5 lots on Oakdale Avenue in Lincoln Park and recently sold a home on three lots on Lakewood Avenue.

“If you like to enjoy what Lincoln Park has to offer — the lakefront and the bike path — it’s pretty spectacular,” she said.

Lynne Marek contributed.

Read more: http://www.chicagorealestatedaily.com/article/20110920/CRED0701/110929994/morningstar-chief-plans-lincoln-park-mansion#ixzz1YlxD7uH4
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Former FSBO CEO sells home the traditional way

Founder and former CEO of ForSalebyOwner.com, Colby Sambrotto listed his 2,000 square foot New York condominium on his own through online classified ads and FSBO sites, but after six months, he opted to hire New York broker Jesse Buckler who immediately advised a price change as the listing was not attracting the right buyer.

After giving up on the DIY route, Sambrotto’s decision to hire a broker led to attracting multiple offers, closing for $150,000 over the original asking price. The Wall Street Journal reports the listing sold for $2.15 million including a 6% commission.

Many FSBOs turn to Realtors

The news stands as an enormous validation of the real estate profession and while some may tease, it is no laughing matter and the former FSBO CEO made a good financial decision.

AGBeat columnist Herman Chan said, “If people want to take a stab at For Sale By Owner (ie FSBO), go for it. But well over 80% of FSBO’s eventually have to list with an real estate agent to get their house sold. It’s harder than it looks!”

Not a new dilemma

Marlow Harris, Seattle Residential and Investment Consultant at Coldwell Banker Bain Associates told AGBeat, “The ForSaleByOwner.com founder’s dilemma is one we see quite often and is not unusual. Trying to sell your own property yourself or using a discount brokerage, is not the solution for everyone. Unusual properties, properties in the higher price range, these are more difficult to sell and often require specialization.”

Harris continues, “We see these choices across the board, from single family homes to huge housing developments. For instance, Vulcan, one of Paul Allen’s companies which has invested heavily in Redfin, does not use Redfin to market their many condominium projects. They use traditional real estate firms such as John L. Scott, Williams Marketing and Matrix Real Estate, finding that the do-it-yourself approach to real estate just doesn’t work for these types of sales.

Joanne, Richard Kaplan,David Schwartz and David Kaplan at the Francis W Parker Real Estate symposium, March 31st , 2011

Joanne, Richard Kaplan, David Schwartz and David Kaplan at the Francis W Parker Real Estate symposium, March 31st , 2011

TOP OF THE ROCK- Chairman's Circle Platinum Top Individual Producer

TOP OF THE ROCK- Chairman’s Circle Platinum Top Individual Producer