The Great Jordan Property Sell-Off Continues

On Tuesday, Juanita Jordan, the former wife of Bulls star Michael Jordan, placed her Lake Shore Drive penthouse on the market for $5 million.

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

Michael Jordan Asking $29 Million for Highland Park Estate

The one and only Michael Jordan has listed his humble Highland Park abode for an incredible $29 million - making it the most expensive listing in the Chicago-area market.

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.

When it Comes to Dating, Is Homeownership the Ultimate Aphrodisiac?

 In a recent article by CNNMoney, a survey of 1,000 people found that over one third of women and 18% of men would rather date a homeowner than a renter. 

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!

How Belgravia's Buzz Ruttenburg Sees Chicago's Real Estate Market

Video Courtesy of YoChicago

Surge in supply could hit downtown apartment rents

Downtown apartment landlords are poised to have another strong year, but a construction boom could make their lives more difficult in 2013 and beyond.

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