Chicago, Illinois, is the third largest city in the U.S. and known for its rich cuisine. Nicknamed the Windy City and situated on Lake Michigan, if you are thinking of buying a home in Chicago, or one of its suburbs you can try reaching Arlington Heights real estate agents
or local Chicago real estate agents which will be of great help. Of the residences in the city, one third are located in lakefront neighborhoods. Chicago is located in an area of the country that experiences four distinct seasons.
Chicago is known for art and entertainment. There are several famous theater groups performing in the area, such as the Goodman Theatre, the Steppenwolf Theatre Company and Chicago Shakespeare Theater. Home to the second largest museum of art in the U.S., the Art Institute of Chicago a variety of other forms of art are represented in the city as well including The Chicago Symphony Orchestra, The Chicago Ballet and The Chicago Opera Theater among many others.
Real Estate in Chicago
Chicago is one of the hottest real estate markets in the U.S. While other housing market values declined, the Chicago market remained steady and took less of a dip than most other major metropolitan areas. There are several reasons for the upward trend in Chicago's market. First, Chicago remains a major tourist destination. Tourism brings dollars as well as interest in the area. Since the completion of the world-class Millenium Park on Michigan Avenue, tourism has increased from around the world.
Today more than ever, visitors from Russia, Asia and the Middle East are bringing investment dollars and buying up property throughout Chicago. The influx of tourism and money has resulted in steadily rising prices in some of the tonier areas of the city, such as the Loop, Bucktown and the Lincoln Park areas.
If you have a property to sell, or you want to buy a piece of Chicago while it's still affordable, you need to contact a Chicago real estate agent. You don't pay your Realtor anything up front. He or she gets paid only when you buy-or sell- property. At the closing table, the Realtor gets paid part of the sales commission which typically ranges from a low of 3% to a high of 7% of the purchase price in the Chicago market.
Real estate agents in Chicago are licensed by the Illinois Board of Realtors. Licenses for agents representing buyers are the same licenses used by sellers' agents. In fact, buyer and sellers are often represented by the same agent in an arrangement known as "dual agency." A dual agent represents both the buyer and the seller in one transaction, and keeps confidential information confidential. A dual agent cannot, for example, disclose that a buyer is really willing to pay more than they've offered. Conversely, even if he or she knows, the agent cannot disclose that the sellers would accept less than the asking price.