The average long-term mortgage rate in the U.S. increased this week, reaching its highest point in almost a year. The 30-year fixed-rate mortgage, a standard lending benchmark, rose to 6.55% from 6.49% the previous week, according to Freddie Mac on Thursday. A year ago, the same rate was 6.75%. Higher mortgage rates can significantly raise...
Despite ongoing increases in U.S. home prices that reached a record in June, certain areas in the country present favorable conditions for buyers. In Miami, Florida, buyers significantly outnumber sellers, with the number of sellers rising by about 140 percent compared to buyers in June based on Redfin’s data. Miami is the leading buyer’s market...
Located at 130 S. Canal St., No. 425-426, Chicago, this luxurious two-bedroom residence is on the market for $1,000,000. The property boasts distinctive features and modern amenities that make it an attractive choice for prospective homeowners. Interior Highlights The home includes two full bathrooms and impressive 12-foot ceilings. Wide-plank oak hardwood floors extend throughout, adding...
Hawthorne Race Course in west suburban Stickney, facing significant financial challenges, may soon cease operations. The track filed for bankruptcy in February with debts exceeding $100 million. Recent court records reveal a $90 million purchase offer for the site’s 119 acres by a Delaware-based entity known as ALLIMAC 2023 LLC. This offer, referred to as...
Located at 135 W. Lake Street, Barrington, this stunning five-bedroom, three-and-a-half-bathroom Queen Anne home is listed for $1,699,900. Built in 1893, this residence features classic architectural elements and modern amenities. Elegant Interior Features The home boasts French doors, stained-glass windows, and gypsum ceiling moldings. Parquetry floors and crystal chandeliers add to the elegance of the...
New York City Mayor Zohran Mamdani has announced a rent freeze following the Rent Guidelines Board’s approval. This decision affects a large part of the city’s rental market. Humberto Lopes, a property owner, expresses concern, stating that landlords will suffer due to rising costs without rent increases. He warns of potential building deterioration and adverse...
A long-empty lot near City Hall is set to become an ‘art park,’ but not everyone in downtown Los Angeles agrees with the plan. Some residents and a major union have expressed discontent with how the proposal was managed. Details of the Lease Agreement AltaMed Health Services, a nonprofit, is leasing the two-acre lot on...
The conversion of a historical office building on East 42nd Street is set to become the largest project of its type in New York City’s history. The building, formerly the headquarters of Pfizer, is undergoing transformation into a large residential complex. This project, situated near Grand Central Terminal, involves converting the office space into over...
A significant structural issue forced the evacuation of offices and hotels around East 42nd Street on Tuesday, leading to halted traffic in the area. Fortunately, authorities reported no injuries. Early that morning, a 37-story building undergoing transformation from office to residential use experienced a partial collapse, causing major disruption throughout Midtown Manhattan. This incident took...
A new 48-unit apartment building named Poupard Place has opened in downtown Northbrook, providing affordable housing for individuals with developmental or intellectual disabilities. Located at 1593 Shermer Road, this building was developed by the Housing Opportunity Development Corporation in partnership with the Village of Northbrook. The project targets individuals with disabilities or households with at...