The move comes less than three weeks after Michael Jordan placed his 56,000-square-foot Highland Park compound up for sale for $29 million. The Jordans, who divorced in 2006, bought both properties during their marriage. In their divorce settlement, Michael wound up with the Highland Park mansion and Juanita kept the 8,000-square-foot penthouse, which takes up the building's 39th and 40th floors, plus its roof space.

Read more at: http://www.chicagotribune.com/classified/realestate/luxury/ct-mre-0325-elite-street-20120323,0,4533339.story?track=rss

The secluded compound encompasses over 56,000 square feet, 9 bedrooms, 15 full baths, 4 half baths, 5 fireplaces, a 15-car climate-controlled garage and, of course, an indoor basketball court.

In fact, only 2% of women said they'd prefer to date a man who rents and only 3% of men said they would choose a woman who rents over one that owns her home. Provided, of course, that all other factors are equal.

Ahem - a whopping 62% of those surveyed preferred to date singles who live alone. So if that friend who said he'd be off your couch in two weeks is still there two years later, survey says he's killing your game. Get him out and move on.

Sorry college grads living back home, but this is a direct quote from CNNMoney:

And there was bad news for the growing number of boomerang kids -- the young adults who went off to college, graduated and then wound up back in their old bedrooms. It's going to be hard to find love, except (perhaps) from your parents. Less than 5% of all singles surveyed said they would date someone living in their childhood homes.

"That's a real deal-breaker," said Michael Corbett, a spokesman for Trulia. "If you're still living with your folks, you're dead-on-arrival for dating."

Don't worry though! Everyone knows the economy is tough right now! So what if living at mom and dad's house is totally ruining your love life? Use your time at home to save up so when you finally do move out you can buy instead of rent! 

Oh, and when that time comes, you know I'll definitely be there to help you out!

Video Courtesy of YoChicago

Demand for apartments is booming as more people choose renting over buying, one reason effective rents at the most expensive downtown high-rises jumped 9 percent last year, according to Appraisal Research Counselors, a Chicago-based consulting firm.

But now supply is surging, too, which could limit landlords' ability to raise rents next year or, if demand falters, even force them to cut rents to remain competitive. Downtown developers are poised to complete 1,219 apartments this year and 3,500 in 2013, Appraisal Research Vice-President Ron DeVries said at a luncheon Tuesday.

Read more: http://www.chicagorealestatedaily.com/article/20120215/CRED03/120219882/surge-in-supply-could-hit-downtown-apartment-rents#ixzz1mTMLb9q1 

Some neighborhood names were given to them for obvious reasons, i.e. Lakeview, South Loop, River North, but if you've ever wondered why other neighborhoods were given their particular names read on to find out!

Pilsen
This one always confused me. What exactly is Pilsen? In the late 1800s, this neighborhood was actually inhabited by Czech immigrants who named it after a large city back home, called Plzeň.

Wicker Park
Land developers Charles and Joel Wicker bought tons of land in the 1870s with plans to build a neighborhood, and kindly donated four acres to the city to build a public park. That park was named Wicker Park, and the name stuck for the entire neighborhood.

Bucktown
You've probably heard that Chicago has the largest Polish population outside of Warsaw, and it has been that way for over 100 years. During the early 20th century, this area was known as the Polish downtown and many Poles resided here. The Poles had a tendancy to keep goats in their homes, and since a male goat is called a "buck," the area became known as Bucktown.

Logan Square
Not surprising, Logan Square is named as such for the square in the middle of the neighborhood. The actual Logan Square was named after Civil War hero and former Congressman General John A. Logan.

Andersonville
Before it was the eco-friendly neighborhood it is today, Andersonville was just a distant suburb of Chicago. Swedish immigrants began arriving after the Great Chicago Fire and by the 1900s the area was dominated by Swedes. The name Andersonville comes from the popular Swedish surname, Anderson.

Bronzeville
This area was known as the "Black Metropolis" in the early 1900s, its development credited to such famous African Americans as Louis Armstrong, Marla Gibbs, Lou Rawls and Ida B. Wells. In the 1930s the local newspaper was the first to call the neighborhood Bronzeville for the color of the residents' skin.

The only red flag here is that Epstein paid $250,000 over asking price. The home was listed for $3 million. Let's hope his uncanny ability to overpay doesn't follow him into Wrigley the way it did in Boston. But who knows, maybe he just really, really liked his new mansion! I must admit, it is pretty awesome that if he runs out of sugar he can just jog on down to Ryan Dempster's place to borrow some. So, now that he's finally getting settled in I have just one request: Can you PLEASE help us get to the world series, Theo??

1. Change your furnace filter.
Ideally, you should have completed this task, along with a few other winter prep essentials, before the chilly weather arrived. Filters last about three months when you're using your furnace regularly, so you may need to do this more than once if it's an especially long and brutal winter.

2. Wash your windows.
Even if you're stuck indoors, that doesn't mean you can't improve your view of the winter wonderland outside. Winter's a great time to wash the inside of your home's windows and let some more light in. You can tackle the other side of the glass when it's bearable to step outdoors.

3. Insulate your water pipes.

Adding insulation will save you money by reducing heat loss in the pipes that carry hot water. You also won't wait as long for hot water when you turn on your faucet.

4. Dye-test your toilet.

 Put five drops of food coloring in your toilet’s tank, wait 10 minutes and see if the color comes into the bowl. If it does, you know you have a leak. The most common cause for a leak is a defective flapper, the rubber mechanism that allows water to exit the tank when you flush. That 10 minutes of your time could end up saving you a lot of money on your water bill.

5. Regrout your bathroom tile.

This project is a little more labor intensive, but definitely doable, Lupberger says. You may want to regrout the tile because it's old and dirty, or because you've decided to go with a different color of grout. Either way, you'll first want to clean out the old grout.

7. Install flooring.

Pergo and laminate flooring is designed to go on top of an existing floor and is a great project for do-it-yourselfers, says Arthur Walters, a flooring contractor in Orange County, Calif.

8. Install new lighting.

Justin Merritt, owner of JM Electric Inc. in the Denver area, says homeowners can do basic electrical work themselves, but that "caution must be taken to do things correctly and not cut corners."

9. Replace a faucet.

A professional at your local hardware store can help you determine which faucet fixture will be the correct fit for your sink and be sure you have the right tools for the job. Videos online, including one from Home Depot, can walk you through each step of the process.

10. Replace a toilet.

While a homeowner could complete this task himself, we warn that it requires a strong body to lift a toilet, and a handy mind to complete an installation.

If you are committed to do it, do your research. Watch a video online, read a how-to book or take a class. Again, remember to turn off the water to the fixture. You'll also need to drain the tank by flushing the toilet to remove excess water.

For more detailed guides, check out the full article: 10 Great Winter Home Projects

Sometimes, clients get upset when their agent tells them what the market is indicating their home is worth today or when they suggest price reductions.

If you have a good agent (and I truly hope you do!) then they are most likely trying to protect you from losing even more money by positioning your house correctly from the start.

Otherwise, you might end up "chasing the market".

Let me explain: If your home is in the best condition at the best price, it stands to reason that it would be the first to sell. Once it sells, other similar properties may have to lower their prices to compete. Then, out of that group the one in the best condition at the best price will sell for just a tiny bit less than the one before, and so on.

Pricing Illustration

XXXXXX  XXXX

    X

Top Row ----> Properties on the market similar to yours, they're all priced the same.

          Bottom Row ----> Your property. It's priced just below the similar ones. If you were the buyer, which would you see first?

If you are constantly priced above the best property at the best price, you will most likely always be chasing it! You want to BE the best property at the best price!

Now in this scenario, because you've continuously allowed someone else to slide right under you in terms of price, the home that you originally put on the market for $350,000 (but in this market was really worth $335,000) may finally sell for $300,000 after you were forced to continuously reduce the price in $5,000-$10,000 increments for 8 months or whatever the time because you didn't beat those similar properties to the punch!

If you had listed your home at $335,000 originally, you could have saved $35,000 on top of all the expenses you were paying while your house was on the market. 

Suddenly that $335k doesn't sound so bad, right?