33 Blog Archives - 33 Realty!

All the latest happenings, articles and more about 33.

  • May 23, 2017

    From extremely modern to high-end boutique, Chicago’s neighborhoods are full of unique hotels, but there’s a growing trend for accommodations in the city that has nothing to do with hotels. Airbnb changes the way you stay in Chicago, and the options are anything but boring. How Airbnb Works in Chicago Airbnb gives property owners with space to rent a place to connect with travelers looking for a place to stay. The owner posts the property with images and details of the rental. Potential renters browse the listings, and when a user finds a place to rent, booking and payment take place online. It’s an easy way to rent out your … Continue reading

  • May 4, 2017

      We’ve noticed the boom of luxury inventory in the Chicagoland area and 33 understands luxury living requires an upgraded management service. Our luxury management team’s mission is to deliver superior service and use effective strategies to efficiently manage luxury buildings. Here is our top five checklist: 1. Luxury amenities require meticulous management. Our property managers push work orders to be completed within hours, not days. We promptly call our tenants for permission to enter units and personally follow up to ensure the job was done right. 2. It is important that tenants are provided with the services and amenities that are included in their rent.  For instance, our management … Continue reading

  • March 15, 2017

    Are you a condo owner considering your next move? Are you on the board of your HOA and considering selling? In the past year or so, as the demand for rental units has increased, a new phenomenon has emerged – “condo deconversions.” This is when all of the condominium units in a building are converted to apartments. Now, I bet you’re wondering how does this work? The deconversion process is initiated when a buyer makes an offer to purchase all of the units in the association. The buyer then converts the property into apartments. Let us inform you of reasons why you should consider condo deconversion. • You make more … Continue reading

  • March 2, 2017

    Buying your first home can feel both exciting and terrifying. You’ve been saving for years and have been on the hunt for the perfect house. With so many questions to ask, how do you know when you’re prepared to take your home search to the next level? Wondering what to know as a first-time homebuyer? You’re not the only one! We’re here to guide you through the process to ensure you’re fully educated and confidently prepared. Knowledge is power, and you need to make sure you’re armed with the right information to make an informed purchase. Ensuring You’re Financially Prepared First, you need to make sure you’re prepared financially to … Continue reading

  • February 14, 2017

    Cubed Construction’s latest project showcases its mixed-use construction capabilities. The work features a custom build-out of the first and second floors to house the operations of 33 Realty and Cubed, along with renovated 2nd floor executive suites and gut renovated luxury apartments on the top 2 floors of this 5 floor, 15,000 sf building at 357 W. Chicago. We believe in investing in your own office, which is why our goal was to create a collaborative work environment that focuses on growth, to provide work-life integration, and to promote a steady work-life balance. Check out 3 things to keep in mind when building out your office building: POWER OF 3’s: Own your … Continue reading

  • February 2, 2017

    Rent abatement is a provision that may be included in a commercial or residential property lease. It entitles the tenant to suspend rent payments or pay only a portion of the rent until a landlord completes property repairs. Let’s take a closer look at rent abatement and what it means for commercial and residential property tenants. What Does It Mean to Have Rent Abatement? Rent abatement usually is outlined in the terms of a commercial or residential property lease. It may consist of clauses that define whether a landlord will reduce a tenant’s rental costs or eliminate these costs temporarily if a property becomes uninhabitable. With rent abatement, a tenant … Continue reading

  • December 2, 2016

    ‘Tis the season to explore the best Chicago spots for the holiday season. The city offers a variety of shows, shopping opportunities, lighting displays and active endeavors to fill you with the Christmas spirit, whether you live here or you’re just visiting. Check out these 12 ideas when you want to know how to spend Christmas in Chicago. 1. Christmas Tree Lighting Chicago’s Christmas spirit kicks off each year with the official Christmas Tree Lighting Ceremony in November. The annual event takes place in Millennium Park, home of the famed bean sculpture. A huge tree serves as the centerpiece of the event. The 2016 tree stands 69 feet high and … Continue reading

  • October 12, 2016

    Chicago’s Commercial Real Estate Boom In his day, Frank Sinatra was America’s coolest crooner. This is what he had to say about Chicago: “…and each time I roam, Chicago is calling me home. Chicago is why I just grin like a clown — it’s my kind of town.” Today, Chicago remains a cool kind of town. Chicago wasn’t always this way, though. For the past decade, Chicago commercial real estate has seen a boom like no other. Chicago commercial real estate investment is at a record high, and it’s due to a steady stream of corporate relocations, start-up businesses and trendy young professionals who are looking for authentic and unique … Continue reading

  • June 24, 2016

    Reverse condo conversion has begun to pick up steam in Chicago, as strong rents, reduced transaction costs and higher proceeds have been luring condo boards to consider the bulk sale of the property. There are a number of factors driving this temporary investment strategy. For individual condo owners who have not been able to sell their units due to unattractive retail pricing or FHA lending constraints, this process gives them an opportunity to “get out” of a building where they may have high interest or have moved on and inadvertently become a landlord. Savvy investors are recognizing that with limited multifamily supply, increased cost of both land and construction, and … Continue reading

  • May 23, 2016

      When looking for an investment property it is not uncommon to spend countless hours combing the property market, comparing market data and touring a multitude of different properties looking for the perfect investment property to meet your financial goals. Shouldn’t the same amount of time and effort be put in the finding the right property management company? With the slew of varying property management companies available, we have put together a list of factors to consider when searching for your property management match:   1. Regular Inspection and Preventive Maintenance Finding a proactive rather than a reactive property management company is key to ensure that small maintenance issues don’t … Continue reading

  • May 10, 2016

    When we assess the performance of the real estate market, 2016 is already shaping up to be a better year than last. Development and new construction rates are picking up once more and returning to healthier levels. With this forward motion, rates of home sales are also beginning to increase as homebuyers and investors grow more risk tolerant and are supported by more flexible financing options. Among some of these growth predictions, 2016 will lay the groundwork for some specific and long-term trends that are aimed at encouraging higher home ownership rates, which have sunk since the recession. These trends will not only emphasize the need for alternative housing and … Continue reading

  • April 29, 2016

    This is an exciting time for many, because it’s that annual springtime moment when you get a semi-unexpected bonus – your tax refund. The average tax refund amounts to about $3,000. Are you expecting one this year? If so, what will you do with it? Investing in your home, most likely your most valuable asset, is always a good idea. Here are a few ways to channel your refund into home renovation: Save for a Rainy Day: We should all have a home maintenance fund, the account on which we draw when the AC goes out, when the hot water heater needs replacing or when a hailstorm wrecks the roof. … Continue reading

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