It's not too often you find a home for sale with its' own private beach but this Menard Johnson listing AT 1215 Whitebridge Hill in Winnetka has one and a whole lot more.

This one-owner estate built in 2001 features a 15,000 square foot home with unparalleled views from inside as well as from six balconies. 

This home has the feeling of comfort with extraordinary elegance.  The Foyer features a double floating staircase and marble mosaic floors to welcome you home. 

The great room and living room both feature hand-beveled walnut floors and the entire home features custom cabinetry and moldings throughout.

This luxurious home features six bedrooms, six full baths, four powder rooms, seven fireplaces, a wood-paneled elevator and more.

The magnificently appointed kitchen includes stone floors and a breakfast room that leads to the staircase that will take you to your 150-foot private beach.

Other custom amenities include a state of the art 12-seat theater, an indoor pool with handpainted mural inspired by the Beverly Hills Hotel and a double-sided fireplace with stone facade that faces the family room and pool. 

There's also a sun room, wood-carved bar, exercise room with steam shower and massage room, cedar closet, dark room, second kitchen, library, sitting area and more.

This is a home you have to witness to believe! To learn more about this property at 1215 Whitebridge Hill Road in Winnetka, contact Menard Johnson today or click here to see the full listing.

Homeownership dips to lowest level since 1999

Homeownership in the Chicago area fell last year to its lowest in 16 years, as more people continued to rent than buy out of necessity or choice.

The local homeownership rate fell to 63.9 percent in the fourth quarter after two years of steady decline, according to data from the U.S. Census Bureau. The rate fell from 64.4 percent in the third quarter and 67 percent a year earlier.

The drop reflects the broader shift under way in the housing market since the housing crash, which shook the residential lending market and made it harder for homebuyers to get a mortgage. The local homeownership rate peaked at 71.2 percent in 2006 and was last at its current level in 1999.

“A lot of the factors that are affecting the national homeownership rates are pretty similar to what's happening in Chicago and Illinois,” said Geoff Smith, executive director at the Institute for Housing Studies at DePaul University. “During the economic crisis, you had a lot of homeowners who were pushed out of homeownership. In many cases, those folks had to rent because they were not able to buy again.”

The national homeownership dipped as low as 63.4 percent in second-quarter 2015 before rising slightly to 63.8 percent in the fourth quarter, according to the Census. The national rate was last below 64 percent back in 1990.

BIGGER DOWN PAYMENTS

The Census calculates the homeownership rate by dividing the number of households occupied by their owners by the total number of occupied households.

Home buyers today must put down a bigger down payment than they could before the bust, and lenders scrutinize their creditworthiness more closely. After seeing home prices plunge during the crash, some buyers also are also more skeptical about a home's investment potential.

Moreover, millennials are renting for longer and aren't purchasing homes as soon as their parents and older generations did at the same age, Smith said.

“Younger households have always had a high level of renting, but that level has gone up because typically they don't have as much money to put down a down payment, they may need to be more mobile and they want to live in certain parts of cities that are less affordable for buying,” Smith said.

But more renters also means higher rent. Landlords here have hiked rents over the past several years amid high demand for apartments. Net rents at high-end downtown buildings have risen 36 percent on a per-square foot basis since 2009, while suburban rents have increased 31 percent, according to Appraisal Research Counselors, a Chicago-based consulting firm.

Article curated from Chicago Real Estate Daily

Link: http://www.chicagobusiness.com/realestate/20160201/CRED0701/160129775/chicago-area-homeownership-dips-to-lowest-since-1999-census-bureau

A little bit of similarity, a little bit of uniqueness is something all bungalows can boast. Usually built of brick, it was almost this solid representation of what the American dream was all about. With the rise of the middle class, and Chicago being one of the fastest growing cities in America, this housing style exploded. 

Around 1910, an enterprising architect adapted the traditional square wooden bungalow to accommodate Chicago’s standard 125-by-25 lot and its challenging weather. That started a trend that would dominate the next three decades of home building in the city. 

By the time the Great Depression hit, some 80,000 Chicago Bungalows stood in a great arc surrounding the city, linking diverse and distant communities together. Today, Chicago has more than 80,000 bungalows, which make up 1/3 of the city’s single-family housing inventory. (See map below )

The bungalow is a Chicago classic. They have a stylistic unity, but celebrate their uniqueness in the details. Some are influenced by the arts and crafts movement, while others may have exterior ornamentation that might be influenced by tutor or Gothic styles. 

As of late, Chicagoans have increasingly come to see bungalows as a valuable architectural asset and a practical middle ground between the detached houses of suburbia and the density of the city center. Given that, interest in the preservation and restoration of bungalows have made a resurgence. 

The Chicago Bungalow Initiative launched by the City in 2001, helps to bring awareness and appreciation for this building type and advises homeowners on issues such as rehabbing and energy efficiency. Go to www.chicagobungalow.com to explore in more detail. At least ten Bungalow Historic Districts have been established, providing tax incentives to owners to preserve and restore these iconic homes. Ever adaptable, Chicago’s Bungalows will continue to provide sought-after housing for years to come.

“Chicago Bungalows signify the American Dream realized for our city's immigrants. Its their own home, built of strong brick, mostly common, some a little fancier ? sort of like themselves. They're sited on a planned street with lawns, trees, and a stoop to sit upon and chat with their neighbors after a hard day's work. The faux fireplace, built-in bookcase, front room flowing into dining room are ingredients of family life. Located in a neighborhood zoned for parks, schools, workplaces and shops, there is pride in every architectural detail.”

–Tom Drebenstedt, CAF Docent Class of 1986

We have a lot going on this weekend!  Come out and join us at an open house this weekend:

Saturday January 23

2348 W. Roscoe St. 1E from 12pm-2pm (New Price - $619,000)

Sunday January 24^th

2154 W. Roscoe #2 from 12pm-2pm

2030 W. Fletcher from 1pm-3pm New Construction

3322 N. Hamilton from 1pm-3om New Construction

On Saturday January 9^th Charese is hosting an open house at  2154 W. Roscoe #2 from 12pm-2pm

On Sunday January 10^th Charese is hosting an open house at 3322 N. Hamilton from 1pm-3pm (Single Family New Construction)

On Sunday January 10^th Al is hosting an open house at 2030 W. Fletcher from 1-3 (Single Family New Construction)

New Properties On The Market

3 Bedroom, 2 Bath in Roscoe Village.  Really awesome penthouse with a private rooftop.  Elevator building.  Great Chef's kitchen. Check it out!

2348 Roscoe Street Unit 1E, Chicago — Roscoe Village $629,000 In the heart of Roscoe Village.  This home has all the bells and whistles you seek.  Click here for photos and description.

Welcome 2016!!  As every New Year begins, change becomes the word of the day.  What will this year bring that is different than 2015?  What does the horoscope predict or what sayeth the Chinese calendar?  Do we look to grow in our faith?  Who will be married, or have children?  How will our lives be enriched with friends, family and work? Does travel play a big role in our year? Do we move or stay put and redesign our homes?  

All of these questions only lead to one thing - change.  Nothing stays the same and every year we grow in different ways and our lives naturally create something new. Change is exciting and scary, but it continually evolves. We really don’t have a choice.

I am excited for the year ahead of me and what it will bring.  I look forward to a rewarding housing market and am humbled by the incredible clients in my life. I love my work and what I can do for others.  Nothing is more fulfilling than helping others find their new home or go through a successful sale of their current home.  The joy is always overwhelming and I am so thankful to be a part of this change a part of their growth.  2016 will be no different, some clients will reach out to me once again, and then there will be the new clients.  No matter what happens there will be change.  

I have been blessed with a wonderful family and a wonderful family of friends.  The whole family grows and changes daily and I wouldn't have it any other way.

Happy 2016!

Charese