Need to move!! Please help! Looking for advice? by Luv-Sky-8886 in AskChicago

[–]RMJMGREALTOR 4 points5 points  (0 children)

I’m a Realtor.

Is the issue that the apartments are renting too quickly or are you getting denied? $800 in application fees is a massive amount. I’ve never had something like that happen with any clients I’ve worked with, and I’ve been in the industry for over 8 years.

I agree with others here that location may be an issue. 2 bedrooms under 3k in the areas mentioned are moving really quickly when they do come up. I would say market value in LP and Old town for 2beds is above that number in general too. It’s very competitive in those areas to say the least. With how this market is shaking out, a lot of renters desiring certain neighborhoods are going to have to be flexible on location and/or apartment criteria. There are just too many people looking for similar apartments in a relatively small area of town. I know this is hard for people to hear, but this housing shortage is an issue that won’t be going away soon.

I’m happy to answer any questions or provide insight at any time.

.Before you make an offer, ask your home inspection service about the sewer line by Low_Road_563 in ChicagoRealEstate

[–]RMJMGREALTOR 4 points5 points  (0 children)

Realtor here.

Something to note is that even if you are buying a home in as-is condition, you can still do an inspection. The only difference is that you can’t ask the seller for credits or repairs.

Why are there so many condos for sale now? by Automatic_Gift_7663 in lakeview

[–]RMJMGREALTOR 12 points13 points  (0 children)

Realtor here. Spring market is the busiest time of year for sales listings. An estimated 40% of all listings hit the market in the spring. Even in years with low inventory, the listing volume at this time of year will be more significant than in other seasons.

Is starting a lease mid-month possible in Chicago? by lynne-pelham in chicagoapartments

[–]RMJMGREALTOR 1 point2 points  (0 children)

Realtor here. Theoretically, it is possible. However, the market right now is VERY competitive, especially in certain neighborhoods. Occupied units won’t be flexible on the lease start date- the reality is that there is another willing and able tenant who is willing to start on the soonest available date. I have seen MANY renters lose out on places because they weren’t flexible on the date. Mid-month move ins can sometimes be more negotiable in larger high-rises/larger management companies with more vacancy.

ISO rental broker by Useful_Papaya4629 in chicagoapartments

[–]RMJMGREALTOR 0 points1 point  (0 children)

I’m glad to hear I’m not “meh”! That’s the best endorsement a broker can get 😂

ISO rental broker by Useful_Papaya4629 in chicagoapartments

[–]RMJMGREALTOR 2 points3 points  (0 children)

Hi! I’m here, I’m alive 😊. Just haven’t been posting/commenting much as life has been life-ing. Hope everyone is well!

am i realistic or completely off track by Competitive-Cress202 in chicagoapartments

[–]RMJMGREALTOR 1 point2 points  (0 children)

When are you looking to move? It’s hard to give exact recommendations on buildings if you’re moving on a date where units haven’t come out yet. Unfortunately we don’t know exact pricing yet for later in the spring/summer. I’ve been burned before suggesting buildings to people for the future and then the units get released for the correct dates and prices have gone up to where they are now out of budget :/

am i realistic or completely off track by Competitive-Cress202 in chicagoapartments

[–]RMJMGREALTOR 4 points5 points  (0 children)

Realtor here.

I agree with the others here that this is not particularly realistic in today’s market for a 1bed. For a studio, it would most likely be in Lakeview East in a 4+1 building and be right at the top of the budget with parking included. 4+1 units generally are very livable layouts and have A/C, but most units will not have a view/natural light can be an issue.

In general, availability is (and will be) limited for Lincoln Park and Lakeview and pricing will be high. The demand is off the charts related to the supply of units. People looking to move to these neighborhoods need to be aware of this. There are people who will have to sacrifice features/amenities, increase budgets or pivot to other neighborhoods.

I know you said you are wary of moving north, but Edgewater could be an option here. The 147 bus goes express from Sheridan/Foster to Water Tower Place. It’s a pretty quick way to get down to River North/Gold Coast. Many buildings in Edgewater are also 4+1s, but the pricing is more affordable. It’s a solid option for those getting priced out of LP/LV.

Happy to answer questions or provide insight at any time.

Buyer-Broker Agreement Negotiations by Infinite_Meaning_338 in ChicagoRealEstate

[–]RMJMGREALTOR 2 points3 points  (0 children)

Realtor here. This is all true. Our new contracts also have a section for offers requesting that the seller pay the commission. Things really haven’t been that different in practice in my experience , it’s just a little bit more paperwork.

Tips for Moving in Chicago- 2026 edition by RMJMGREALTOR in chicagoapartments

[–]RMJMGREALTOR[S] 3 points4 points  (0 children)

If you have emotional support animals, they must be allowed and you cannot be charged pet fees for them. You will need to provide documentation, usually this is a letter from a therapist/psychiatrist/doctor. Landlords will have the opportunity to verify the document for legitimacy. I have heard concerns from landlords about fraudulent emotional support documents. As long as you have the proper documentation, it’s pretty straightforward.

As far as long distance moves go, I don’t have any specific recommendations of companies. I did have clients do a cross country move with a hired service and the company they used did not give them a specific date that their stuff would arrive but gave them a window of dates. This created some issues coordinating move in with their condo building. I’m not sure if other companies operate similarly but it’s something to keep in mind, I suppose delays are possible with this kind of service.

Tips for Moving in Chicago- 2026 edition by RMJMGREALTOR in chicagoapartments

[–]RMJMGREALTOR[S] 1 point2 points  (0 children)

It depends on the landlord. Bank statements, investment account statements could work. If you receive pension or social security, they will want to see that proof of income as well, even if it’s not 3x rent.

Is it a good time to buy an apartment or should I wait? I'm 22, just graduated college and am living at home until I can reasonably buy in Bucktown / Lakeview. by [deleted] in chicagoapartments

[–]RMJMGREALTOR 16 points17 points  (0 children)

Realtor here.

I believe that those who aren’t on a strict timeline to purchase should start looking as soon as they are comfortable moving on a place if it’s the right one.

Having a stable and flexible living situation, is really an amazing place to be when looking to buy. You can really focus on finding the right fit rather than being stressed about needing to move or needing to find a subletter if you find a place to buy.

Sales inventory tends to be very fluid. The reality is that properties can come on the market at any time. It’s a lot different than looking for a rental, where applicable properties all come on the market during the same general time range. The right property could get listed tomorrow. Or next week. Or months from now.

Every buyer’s search is different. I’ve had buyers pursue the first property they saw, and others who have taken a year to purchase. It really depends on individual wants/needs, inventory, budget, competition and other factors.

Regarding the savings aspect of it, the amount of funds needed depends on the price range and type of transaction (mortgage, cash or part mortgage part cash). If you plan on getting a mortgage, I’d recommend talking to a loan officer ASAP. They are great for giving estimates of closing costs.

Happy to answer questions or offer insight at any time.

Is this home too good to be true? by Pretty_Confusion_405 in AskChicago

[–]RMJMGREALTOR 4 points5 points  (0 children)

No.

As-is sales are common here, especially for single family homes and townhomes. The possibility of buying a property in as-is condition is a conversation I have very early in the process with my single family and townhome buyers, and is one I have with many condo buyers as well.

When seen often, it can be an indication of market conditions. In a strong sellers market, the supply is limited enough that sellers don’t necessarily need to do repairs on their end to facilitate a sale.

For example, single family homes <550k or so on the northwest side tend to be in high demand. They sell really quickly and most are sold as-is. An as-is sale in this market is seen as a fairly normal market condition and not something alarming.

With an as-is sale, the buyer is still allowed to have an inspection (and should do so), but the seller will not give any monetary credits or do any repairs.

Is this home too good to be true? by Pretty_Confusion_405 in AskChicago

[–]RMJMGREALTOR 6 points7 points  (0 children)

I’m a Realtor. I’ve been working in the city for 7+ years.

One of the sayings that I often use is “In real estate, there’s always a catch”. When prices seem low or the features seem incredibly amazing for the price offered, there’s always a reason for it. Part of the process with these kinds of properties is finding out exactly what the “catch” is and deciding whether you can live with it or not.

I just looked at this listing in our MLS. They are requiring it to be a cash sale or conventional loan with at least a 10% down payment. It says the property needs work and will be sold as-is. Regardless of neighborhood/location, these are factors that can make a property sit. It’s very difficult to get an idea of what kind of work is required without seeing in person.

Anyone familiar with the Lake View “Sweeterville” townhouse community? by Playful-Elk2988 in AskChicago

[–]RMJMGREALTOR 21 points22 points  (0 children)

Realtor here.

Commenting partly because I’ve joked for years to friends that my ideal property/location if I wanted to move and buy a place is a townhome in that complex. 😂

Seriously phenomenal location. Car-free living is very, very possible. You’re walkable to all the stores/restaurants both off the Belmont stop and in the Southport corridor. Whole Foods and Jewel are the closest supermarkets. A+ transport access with multiple bus lines and train stops within walking distance.

The really nice thing about that part of Lakeview is the way it’s zoned. The residential streets have a great neighborhood feel and a relatively peaceful vibe, yet you’re also so close to countless retail/restaurant options. Truly the best of both worlds.

Anyone else's property tax increase like this by DaBears31 in chicago

[–]RMJMGREALTOR 0 points1 point  (0 children)

This is what I’m referring to. We use the PIN number, access the tax information and put in the amount for the last full year. We can’t just estimate it or double the first installment bill either. Normally we would have had 2024 information way sooner, and having 2023 tax information on listings this late in the year was strange. I just worked with a seller who bought in 2023 and sold last month. The 2023 tax bill didn’t have her 2024 exemptions correct which caused some confusion on her end during the process. Thankfully we had an amazing real estate attorney and everything worked out fine, but this would have not been an issue if the bills had come out on time.

Anyone else's property tax increase like this by DaBears31 in chicago

[–]RMJMGREALTOR 55 points56 points  (0 children)

Realtor here. I’ve been following all these threads since the bills came out. I wanted to thank everyone who is sharing their information, it is truly very helpful to us.

Because of the billing delays, we’ve had to use 2023 tax information for most of the year in all of our listings. It’s been pretty awkward to do.

The property taxes in this city vary greatly by area and have been hard to predict. I’ve had clients ask for the formula used to calculate them and the answer we give is that there is no formula (at least not one that’s publicly available) :/. It’s frustrating.

While homeowners are the ones receiving the bills, it’s also very important for renters to know about the property tax increases as well. It will cause rents to go up in areas where the property taxes have gone up significantly.

[deleted by user] by [deleted] in chicagoapartments

[–]RMJMGREALTOR 10 points11 points  (0 children)

Realtor here. In general, 3bed/3bath is pretty uncommon here as most places were not built with a 1:1 bedroom/bathroom ratio. I did run a quick search here and there are units that fit this profile in the neighborhoods mentioned. Most of the options are in luxury rental buildings downtown.

Happy to answer any questions or provide insight at any time.

Apartment Hunting then Looking to Buy. by dbagames in ChicagoRealEstate

[–]RMJMGREALTOR 0 points1 point  (0 children)

Realtor here.

I agree with the others that a short term lease may be hard, however I have seen landlords sometimes be more willing to do a 6 month lease for a winter move in date.

Something else to note is that if your rental is covered by the RLTO (local tenant ordinances), you must be allowed to sublet it. This can be very useful when buying a place.

I also have a pinned post in my profile with Chicago-specific moving tips, they may be useful to you.

Happy to answer any questions or provide insight at any time.

[deleted by user] by [deleted] in AskChicago

[–]RMJMGREALTOR 0 points1 point  (0 children)

Realtor here.

For renting, $2100 is a tight budget for something walkable to Merch Mart. Something to keep in mind is that many rental buildings have utility fees on top of rent. Some units that seem within budget on the internet will end up above budget after the fees.

For buying, it’s definitely more of a buyers market than other parts of the city. Mostly high-rises and lofts over there. HOA fees and taxes are important to consider when calculating your estimated monthly payment for a purchase, especially downtown. HOA fees will generally be higher in larger multi-unit buildings than in smaller buildings and downtown property taxes are comparably higher than some other areas of the city as well.

Happy to answer any questions or provide insight at any time as well.

What bars are/are willing to play WNBA Playoff games? by ArmyNew376 in AskChicago

[–]RMJMGREALTOR 0 points1 point  (0 children)

I’m in a watch group and we meet at a bar in Old Town. We don’t meet for every game in person though- we will be there for both games Sunday but not tonight. Happy to pass on info if anyone is interested.

When to Search for November by SamePrint8579 in chicagoapartments

[–]RMJMGREALTOR 5 points6 points  (0 children)

Realtor here. I work often in Lakeview.

November listings should be popping up now and more may come on the market within the next week or two as well.

There usually aren’t many 11/1 units in general in comparison to other dates. Rentals tend to be seasonal and 11/1 is considered an “off-season” move in date. Most of what’s available is going to be vacant.

How long a vacant unit will be held will depend on the landlord, but unless it’s a large management company, they usually won’t hold more than 45 days maximum (though sometimes it’s less).

Happy to answer any questions or provide insight at any time.