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FBN’s Jeff Flock with Alan Lev, Belgravia Group president and CEO, on the real estate market in Chicago, and why Zillow is calling it the best place...
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All right well zillow says Chicago is the best market for buyers so the question is what can get for your money you thinking about them -- be good.
But Jeff Flock is in a three bedroom Condo that's for sale in the -- -- when the windy city Jeff.
How much does it cost.
574000.
Dollars plus parking and -- taken with a New York City Allen land that is ahead.
-- of a bargain right -- what we're in Chicago yes it is.
New York buyers or broker owners who come here think this is the biggest bargain in the world living in Chicago but take a look at it actually I think the value is here for this year look at this beautiful marble in terms of the kitchen.
You know high ceilings nice finishes.
This building you bought out of foreclosure correct we brought the building next -- out of foreclosure and then the land was part of the purchase we sold out the remaining half of the building across the way so quickly.
That -- we have pent up demand for buyers to continue to buy these units as we walk through the unit.
I wanna put the prices up -- -- Chicago and Illinois.
The forecasts -- last few months has been positive but -- you get a let me feel little blip up but downturn.
Where do you see it right now.
Here in Chicago -- and Thomas Chicago guy and really can't speak for the rest of the marketplace.
We're not written about him anymore around -- bouncing around we're on the way up albeit not as quickly.
And interim faster pace is maybe some other place in the country but are we are on the way up price wise and sales wise -- we get away tell me why you think this real estate recovery is for real what do you see they tell you tells you.
This is for -- The US sustain that level of sales that we've seen over the lasted a year or so and low mortgage rates.
And the increase in sales -- rental prices in the Chicago area has made it incredibly attractive for people to buy a home compared to -- take better off these days buying -- renting unless of course you're gonna have to move in the next year to.
That flexibility is still important to have for -- but it makes better financial sense to buy in Chicago than to rent.
Death and a bargain for -- -- no doubt Jeff Flock thing.
