Evanston IL Real Estate

The major difference between a Condo and a Cooperative (Coop) is in the type of ownership. With a condo the owner actually owns real estate and gets title to this unit usually in a fee simple title. With this ownership comes and undivided interest in the unit and the common areas of the building.

In a Coop you do not own real estate rather your ownership is a percentage in a not-for-profit corporation. As a shareholder you get to lease space in the building. The corporation owns the common area space.

Because condos are owned individually and as such each condo unit has its own seperate real estate tax bill.

With coops there is one real estate tax bill which the corporation pays and passes along the cost to the shareholders. Real Estate taxes tend to be lower in coops because sales are not recorded.

Both condos and coops have monthly assessments to cover common area costs. Usually coops have a higher monthly assessment because real estate taxes for the corporation are collected monthly from shareholders. Other expense items such as utilities (heat, water, electric) are also included.

Financing is available for both condos and coops. The association of a coop may require a bigger downpayment from a shareholder.

If you would like to receive more  information about condos or coops please feel free to contact me personally at www.jacklewitz.com.

Are you close to retirement or do you have a child going off to college? If you answered yes, then maybe you should consider buying real estate today for the near future.

If you have a son or daughter in college at Northwestern University maybe a good business plan is to buy a Condo and hold it for a four year investment. If the Condo is held in the childs name you may even avoid paying capital gains tax. It could become a very nice graduation present.

If you are planning to retire in the next couple of years and are thinking about downsizing from your home maybe you should consider buying a condo today for the future. You may even consider putting money down on a future development at pre-construction prices. The benefit to buying now is you have time to plan your move with little cash invested. Remember, you do not start paying on the new home until you actually close and take occupancy.

If you want to receive more information about buying in Evanston for College or Retirement then please visit my website at www.jacklewitz.com and leave me an e-mail and I will be glad to respond to you.

Every three years the Cook County Assessor is required by law to assess one third of all properties located in Cook County. Evanston’s Triennial Reassessment for Real Estate Taxes is in 2007. You will not see the adjusted value on your tax bill until 2008 because taxes in Cook County are paid in arrears.

 Every homeowner is entitled to the Homeowner Exemption Property Tax Relief and if you are a Senior Citizen you are entitled to another tax relief. Your tax bill should indicate whether you are receiving these exemptions. For more follow the link to Cook County Assessors office and click on Exemptions.

f you feel you are paying too much in real estate taxes you can appeal those taxes yourself or hire a Real Estate attorney to appeal them on your behalf. Most attorney’s work on a contingent fee basis in that if they reduce your taxes they receive a percentage of the savings.

Want to get a better picture of how Evanston works? Curious about Evanston’s History? or Want to understand current community issues? then you can attend SnapShot Evanston, a fast-track orientation to the community of Evanston offered by the Evanston Community Foundation on Thursday OCtober 19, 2006 from 8:30 am-2:30 pm. Cost is $75.00.

So, your’re ready to sell your home and you’re wondering: “What am I going to do?”

The most important thing you can do right now is begin educating yourself about the process of selling your home. If you are considering using a broker make sure that the real estate agent you select has the “skills” necessary to market your home successfully.

You see, marketing your home takes more than just sticking a sign on your property, entering the listing into the local Mulptiple Listing Service (MLS). It takes aggressive marketing to sell your home in today’s market place.

What do I mean? Well… in today’s market place there are only so many buyer’s ready ,willing and  able to buy your home. So if you want to sell your home you must identify those buyer prospects before your competition.

So, how do I identify these “hot” prospects for your home. Well…  I use a marketing system called Provantage.

Provantage is an 800 number that allows  me to supply “hot” prospects with recorded information about your home… 24 hours a day! I record a verbal description of your home on my Provantage system and prospects can access this information 24 hours a day. In addition, I receive notification of each call made via e-mail and text messages right on my cell phone. I never miss a call. It is like someone working for you 24 hours a day.

If you would like to see how this system works please feel free to call 1-800-296-7671 then enter extension 100.

If you would like mor information about me as a realtor , I recommend visiting my website: www.jacklewitz.com and go to testimonials or visit my company website: www.lakeshore-partners.com

The City of Evanston departments of parks has issued a notice to all residents in Evanston that the Emeral Ash Borer has been found in Evanston. Follow the link for more information from the City of Evanston.

The best part about living in the midwest and Evanston is that we have four seasons. My favorite season is Fall. I like Fall because of the colors. To appreciate the Fall colors, I suggest going to the Botanic Gardens or the Morton Arboretum during the peak time from September 1- October 30, 2006. Another suggestion is to take a walk in the park.

Evanston is rich with many different architectural home styles. For purposes of this article I will discuss three prominant styles : Victorian ,Queen Anne , and Tudor Revival .

Victorian (1860-1880) Many people use the term Victorian to describe an architectural style yet Victorian is not really a style as it is a period in history. The Victorian era dates from about 1840 to 1900. There are many differerent features during this era and can be put into sub categories (i.e. Gothic Revival, Victorian Italianate).

Queen Anne (1880-1910) While also considered a Victorian the Queen Anne is the most elaborate and the most eccentric. Often it is described as romantic and feminine

Tudor Revival (1890- Present)-Tudor Style architecture imitates 16th Century English architecture. These homes look like castles, medieval cottages, have beautifully patterned brickwork and stonework.

The Golden Apple Award is for teaching excellence. The 2006 Golden Apple Award Finalists for Pre-kindergarten through Grade 3 has selected three (3) teachers out of 30 from Evanston. Congradulations go out to those teachers. They are Randy M. Heite,Kingsley Elementary School-Kindergarten, Jane K. Stenson,Baker Demonstration School-Kindergarten, and Patricia A. Cleveland, Dewey Elementary School-Grade 3. The Awards selection committee consists of 90 Chicago Area educators. Two committee members will observe each of the 30 finalists in their classrooms and 10 will be selected as Golden Apple Award Winners. The winners will be announced in Mid-March and honored on May 13, 2006 at the Hyatt Regency Chicago and will be broadcast on WTTW/Channel 11. Each of the 10 winners will receive tuition free sabbatical at Northwestern University, a personal computer from Apple, $3,000, and membership in the Golden Apple Acadamy

For a full week in October you and your family can experience the Arts sponsored by the Evanston Arts Council. During the week long event, there is something for everyone. There will be exhibits from local Evanston artists, photography exhibits, Evanston art gallery tours,story time at Barnes & Noble, free music concerts, family activities (i.e. build a totem) at the Noyes Cultural Arts Center, pottery classes, choral concerts and more.