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The full name of the new high-rise at 8 E 9th St in the South Loop is the Astoria Tower Residences & Spa. We've seen shown you a few of those residences, but until recently, we hadn't taken a look at the spa. During a visit to Astoria Tower earlier this year, I checked out this amenity level with Jim Psyhogios of Frankel & Giles. The newly opened spa features a pool, a whirlpool, a sauna, exercise and massage rooms, and two outdoor decks.

Astoria Tower currently features studios for sale from the $160s, one-bedrooms from the $240s, and two-bedrooms from the $320s.

Posted 3/17/2010 by Joseph Askins

Don't know if you've heard about it, but there's this thing called a "first-time buyer tax credit" going around right now, as well as a "repeat buyer tax credit." Apparently they're pretty popular, at least with Realtors and marketing folks.

These will disappear at the end of next month (unless Congress re-ups them once again, that is), so if you're looking for a home and want to get $6,500 or $8,000 credited back to you next spring, you need to have your ball rolling by now. With that in mind, the Wall Street Journal has offered a few facts, reminders, and tips to consider as April 30 approaches.

Over at the Chicago Jetty Blog (the latest addition to our Chicago Real Estate News sources), Grant offers the following thoughts on the credits and what we could see in the market following their expiration.

The first time homebuyer credit is not currently supporting housing sales from a supply/demand view even though it may be influencing buyer psychology. The $8k credit is currently baked into the price of real estate and if it expires we will see an immediately correction in home prices to the tune of $6k – $8k. We learn in economics that the only causative exogenous shocks are those that are unexpected. Just like every other indicator and metric, the size doesn’t matter in the short run but only whether we can accurately predict/expect the size. Unfortunately, the government only had the opportunity to shock to the positive side by announcing the first time home buyer credit unexpectedly, and now all they can do is remain neutral and extend the credit again. It’s as if the government had no credit exit strategy and we are now waiting for the shoe to drop. In other words, the effects of the credit has lived its life and is now harming organic price growth and buyer faith.

If you've ever dreamed of living the country club lifestyle, now is your chance to make it a reality. With today's historically low rates and the best new home value ever offered, there's never been a better time to buy a new home at Hawthorn Woods Country Club.

Built by Toll Brothers, Hawthorn Woods Country Club combines luxurious award-winning homes with a pleasurable lifestyle filled with year-round social and recreational activities.

"The amenities and service are what you'd expect at a high-end resort, and our homeowners get to enjoy it every day," says Project Manager Anders Gode.

Hawthorn Woods Country Club boasts all the pleasures of a resort lifestyle. The jewel of this impressive community is its Arnold Palmer Signature Golf Course set against a stunning backdrop of pristine landscapes. Central to the golf course is the 21,000 square foot clubhouse designed to be the hub of the community.

To serve the many golfers who enjoy the challenging course is a professionally stocked pro shop. There's also a large fitness center with men's and women's lockers, an aerobics studio and lounges. In the summer, residents can enjoy clay tennis courts, take a dip in the swimming pool, or stroll along the scenic walking trails, while in the fall and winter months homeowners can indulge in platform tennis.

The largest residences, the Signature Collection, feature 3,000 to 6,000 square feet of living space and sit on half-acre home sites offering spectacular golf course or lake views. Prices range from the mid-$600s to over $1 million.

Those who want carefree living will like the Golf Villa Collection of three to four-bedroom / 2.5-bath single-family homes with 2,600 to 3,500 square feet and picturesque golf course views, priced from the upper $400s.

Two decorated models and one quick delivery townhome are now for sale. All three residences offer immediate occupancy and feature three bedrooms, 2.5 baths, and amazing golf course views, priced from $429,995.

From I-94 take exit Route 22 (Half Day Road) west 5 miles to Route 83 north and turn right. Travel 3/4 mile to Gilmer Road and turn left. Continue 4.5 miles west to Schwerman Road, turn left and proceed 3/4 of a mile. A sales center is open from 10 a.m. to 6 p.m. daily.

Call 847-847-7048 or visit HawthornWoodsCountryClub.com for more information.

Posted 3/17/2010 by Joseph Askins

How does a new or relocating buyer find a good real estate agent? In a recent sit-down with Joe Zekas, Prudential Rubloff President / Chairman Michael Pierson offered some tips for finding a reliable agent in a new city.

Posted 3/17/2010 by Joseph Askins

How does Rogers Park, a neighborhood on the northern edge of Chicago, stay funky? The secret is geography. The area lies beyond the end of Lake Shore Drive; most east-west streets dead-end into beaches, and there’s no quick way to get downtown.

Rogers Park’s relative seclusion has helped it maintain an extraordinary ethnic mix.

Over the last few years, new restaurants, as well as galleries, shops and museums, have filled in niches amid Rogers Park’s Mexican bakeries, hippie book stalls and Chinese takeouts. On a single block you’ll pass a kosher butcher shop, a Mexican pizzeria, and a Belizean barber shop with a pool table in the back. Africans also have a prominent presence in the area.

- From a Feb. 7 article in the New York Times hyping Rogers Park businesses and destinations like Charmers Cafe, Gruppo di Amici, Uncommon Ground, and the Leather Archives & Museum.

Buyers searching for a walkable lifestyle are seizing the opportunity to live just steps from dining, shopping, entertainment, the Metra, and year-round recreation at Toll Brothers' Patriot Commons at The Glen in Glenview.

"We offer carefree condominium living in the perfect location," says Senior Project Manager Brian Wulfestieg. "Everyone is amazed at the spacious designs and great golf course views. A few even offer a shot of the downtown skyline."

Not only is Patriot Commons within walking distance to the Glen Town Center, but it is one block from Gallery Park, which surrounds Lake Glenview and features playgrounds, gardens, athletic fields, tennis courts, walking and biking trails, and picnic areas.

Stylish one- and two-bedroom condominiums with 1.5 to two baths and 1,000 to 1,400 square feet are available, as are plans with dens. Six different quick delivery homes are perfect for the relocating couple or single professional who needs to move in right away. These homes allow buyers to take advantage of the $8,000 tax credit for first-time buyers or the $6,500 expanded tax credit to qualified current owners.

Toll Brothers also offers exceptional interest rate programs that will make your monthly payments more affordable.

Condo owners are already enjoying the climate-controlled indoor parking, the convenience of two elevators per building, a secure storage area, and a common entertainment room. Condo association dues include basic cable, heat, water, garbage removal, landscape maintenance, and snow removal.

Brick, stone and HardiePlank siding adorn the attractive building exteriors. Each residence has a private balcony and many offer breathtaking golf course views. Interiors include 9-foot ceiling heights, hardwood floors, and a complete GE stainless-steel appliance package.

Buyers who prefer townhome living can choose a low-maintenance, red brick townhome with two to four bedrooms and 2.5 baths priced from the mid-$500s. They feature 1,550 to 2,100 square feet in one- or two-story living. Two decorated townhomes plus a selection of other attractive homes are now for sale.

From I-94, exit at Lake Avenue. Drive west for 3 miles and turn right onto Patriot Boulevard. The sales center is 1/4 mile south of Chestnut Avenue and is open daily from 10 a.m. to 6 p.m.

Call 847-998-0400 or visit TollBrothers.com for more information.

Offering 87 maintenance-free townhomes, Cedar Grove is Ryland's newest community, located just west of Randall Road at the intersection of Bowes and Corron roads in Elgin.

Cedar Grove is a 54-acre community that enjoys a quiet, country setting, yet is within minutes of I-90, Metra train service, and top-ranked schools in the Burlington 301 District.

Cedar Grove offers Ryland's highly sought-after urban-style townhomes, which range from 1,641 to 1,945 square feet in size, with two or three bedrooms, 2.5 baths, charming kitchens, large informal living areas, lower levels, and attached two-car garages.

The two professionally decorated models available to tour include:

• The Amherst: A 1,641 square-foot design with two bedrooms and a loft; 2.5 baths; island kitchen with breakfast room; family room; master bedroom suite with private bath and walk-in closet; lower level with utility room, storage room, and access to the two-car garage. This home is priced from $199,990.
• The Chelsea: A spacious home offering 1,906 square feet of living space with three bedrooms; 2.5 baths; spacious kitchen; formal dining area open to an expansive living room; master bedroom suite with large walk-in closet and private bath; lower level with utility room, storage room, and access to the two-car garage. This home is priced from $216,990.

In addition to the two models, three additional plans are offered. They are:

• The Chatham: A 1,744 square-foot home with three bedrooms and 2.5 baths, priced from $204,990.
• The Dunmore: A 1,906 square-foot home with three bedrooms and 2.5 baths, priced from $216,990.
• The Easton: A 1,956 square-foot home with three bedrooms and 2.5 baths, priced from $222,990.

Cedar Grove residents are within minutes of a variety of services and conveniences. I-90 is within ten minutes of Cedar Grove, and local shopping can be found along Randall Road.

Children attend top-ranked Burlington schools in District 301, including Prairie View Elementary, Prairie Knoll Middle School and Central High School. Metra train service can be found in downtown Elgin as well as the Big Timber station.

This community is being sold from Ryland's Gilberts Town Center office at 401 Town Center Blvd in Gilberts. Call Todd Lesher at 847-551-3399 for a private showing.

Buyers can bring their own floorplans or choose from 17 different home designs at the new Reserve of St Charles community springing up in the western suburbs.

John Hall Homes recently broke ground on 25 of the Reserve's anticipated 133 custom single-family residences, with an aim to complete these first homes by the end of the year. Five half-acre sites at the 135-acre community have already been claimed, according to co-owner John Hall Jr.

The Reserve, located just across the street from the Fox River, features plenty of open space, ponds, wooded areas, and the largest lots in St Charles. A bike path runs nearby and leads into the Blackhawk County Forest Preserve. St Charles North High School, a neighborhood park, a playground, and a dog park are all within walking distance of the homes.

Should buyers opt for one of John Hall's home designs, they will be able to choose from ranch and two-story plans with 2,800 to 4,500 square feet, four to five bedrooms, three to five baths, formal living and dining rooms, a family room, a kitchen, and a basement. The Energy Star-rated homes feature wood burning fireplaces with stone faces and custom mantles; full landscaping with paver patios; maple cabinets; stainless-steel appliances; granite countertops; custom benches, bookcases, and millwork; hardwood flooring in the kitchen, hall, and foyer; and low-E windows.

Base prices on lot-plus-home packages range from the $470s to $900s.

Posted 3/16/2010 by Joseph Askins

The sun is out, the sky is blue, and the little birds are singing away. A couple of them tell us to expect news of a condo auction at 1400 Lake Shore Drive any day now. From what we hear, about 40 units will hit the block with no reserve.

RDM Development converted the 22-story, 391-unit Gold Coast tower a few years ago but hasn't been able to reach sellout. Developer-owned units had been listed from the $140s for small studios up to the $590s for three-bedrooms as of 2008.

One agent who has a resale listing in the building hadn't heard about the auction but wasn't surprised by the news. "I've seen some crazy prices there recently -- there's no way the developer can compete with them right now," he says.

An employee with RDM wouldn't confirm the rumor, saying only that I'd be hearing an announcement of some sort later this week.

Google tells me that a lot of people come to Yo searching for info on SoNo. Smithfield's 27-story tower, located at 860 W Blackhawk St on the Near North Side, often comes up in conversations about price cuts at new-construction developments, due in part to @properties' aggressive promotions over the past year.

For whatever reason, we've never had a lot of luck in our efforts to cover SoNo, but there's enough info floating around out there to give you a pretty good indication of where things stand, sales-wise.

Way, way back in the day, SoNo's one- to three-bedrooms were priced from the $270s to $570s. According to Redfin's sales records (which aren't comprehensive, mind you), 115 of SoNo's 200 homes have closed since December 2008, including one-bedrooms with 788 to 1,196 square feet selling from the $240s to $400s, two-bedrooms with 1,416 to 1,436 square feet selling from the $390s to the $630s, and a couple of three-bedrooms with 1,656 square feet selling in the $480s and $490s. One 2,200 square-foot unit, presumably a combo unit, has also sold for $700,000.

At least four homes are under contract, according to Redfin.

Since @properties chooses not to list all available units at its large, new-construction projects, it's not easy to gauge a full price range for SoNo's 80 or so unsold homes from the MLS alone. The 13 condos currently listed range from a one-bedroom with 796 square feet, priced in the $250s, to a two-bedroom with 1,436 square feet, priced in the $440s. Estimated monthly assessments on these homes run from around $330 to close to $500 per plan.

A couple of closed one-bedrooms are also available to lease for about $2,000 a month.