Here's a quick snapshot guide of some of this July 4th Holiday Weekend's "goings on" around the Chicago land area.
If you haven't had a chance yet to get over to the Taste of Chicago, it wraps up this Sunday over at 100 E. Congress Parkway. Click here for hours, food ticket prices, music schedule and more.
The 17th annual African-Caribbean International Festival of Life is this weekend as well. Located at 5500 S. Cottage Grove, this Washington Park/ Woodlawn neighborhood festival features two stages of live music along with food vendors, exhibits, games and much more. Click here for prices, hours, music schedule and more.
On a smaller scale, what would the 4th be without B&BQ? Head on over to the Bull & Bear, located in the River North neighborhood at 431 N. Wells St. for some of Chef David Blonsky's BBQ grillings at their sidewalk patio - The BullPen! Click here for menu, hours and drink specials as well.
Finally, for all you fireworks enthusiasts (please leave it to the professionals), here's a run down of displays being offered --
Friday, July 3rd:
Independence Eve Fireworks, Grant Park, 300 S. Columbus Drive. Warning - more than a million spectators attend this display yearly!
A little less crowded are the following Shoreline Sightseeing Cruises - "Architecture-Fireworks Cruise", "Sunset Fireworks Cruise" and the "Independence Eve Fireworks Cruise". Click here for hours, prices and more.
There's also the Mercury July 3 Fireworks Cruise sponsored by Chicago's Skyline Cruiseline where you bring your own food and drink (no glass, please). Click here for hours, prices and more.
A few suburban locations are hosting their displays on July 3rd as well -
Arlington Heights Fireworks, Arlington Park Racecourse, 2200 W. Euclid. Click here for more information.
Aurora Fireworks, Aurora Central Catholic High School, 1255 N. Edgelawn Drive. Click here for more information.
Saturday, July 4th:
4th of July Fireworks at Navy Pier, 600 E. Grand Avenue.
4th of July Fireworks Cruise, Shoreline Sightseeing Cruises, located next to Navy Pier.
And finally, the July 4th suburban displays -
Evanston Fireworks, Dawes Park, 1700 Sheridan Road. Daytime activities are provided with a parade along Central Street at 2:00 p.m.
Naperville Fireworks, Knoch Park, 700 S. West Street. Presented as part of the Naperville Ribfest.
Oakbrook Terrace Fireworks, Terrace View Park, 1 Parkview Plaza. It's a community celebration with food, live music, carnival rides and more.
HOPE YOU ALL HAVE A "BANG" THIS 4TH OF JULY!!
SUE MOSS & DEAN'S TEAM CHICAGO
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
Good Morning, you dogs!
These days, my own scan each morning of the Business Pages in The Chicago Tribune and The Wall Street Journal often reveal a sliver of opportunity for hope in the Rebound of the Real Estate Market in Chicago.
But other key indicators leave me a bit distressed!
Yesterday, in The Wall Street Journal, in a story by reporter Kelly Evans, The latest Standard & Poors/Case-Shiller Index of Home Prices in 20 of the largest U.S. Cities shows a bit of price stabilization in April.
To be sure, the average indexed home price fell two months ago - the latest month for which the index has been calculated - by an average 0.6% across the U.S. - an improvement from the more marked 2.2% decline of March, 2009.
Here in Chicago, however the year-over -year Index Decline, between April, 2008 and April, 2009 was a record 18.7%. This was not by any means the worst falloff of Metro Markets Surveyed across the country. The Phoenix Metro Area suffered and Index Decline of 35.3% year over year, Las Vegas - 32.2%, and Detroit, - 25.4%.
But still-declining prices here point up the fact true recovery of the Chicago Real Estate Market may still be a ways off.
For me, as a dog, however, another statistic is far more troubling.
As reported in today's Chicago Tribune, by Reporter Jeannine Aversa, the Unemployment Rate, and, it's sister, less reviewed indicator, the Underemployment Rate - remain high, and are likely to increase over the coming months, according to many experts.
Across the U.S. in June, employers shed 467,000 paid positions - far more than the projected 363,000 monthly job losses economists were projecting for last month. That represents a 45% increase in lost jobs compared to May. It leaves the U.S. Jobless Rate, according to the Department of Labor, at 9.5% - a 26-year high!
A far more telling statistic these days, however, is what many call the "Underemployment Rate". This figure includes those who tried looking for new jobs, but have since given up their search. It also includes those who have accepted, at least temporarily, jobs beneath their level of expertise and training, or those who are working fewer hours, or are working part-time as opposed to full-time.
This Underemployment Rate has been estimated at 16.5% for the month of June - the highest such rate on record in over 15 years!
One 58-year-old former non-profit director in Florida felt forced to accept a job - any job - in order to make ends meet. She feels as if she has started a new career, at a time in her life when she should instead be planning for retirement.
Another telling, somewhat depressing unemployment statistic - the length of the time without a job. Today, 29% of the unemployed in the U.S. have been out of work six months or longer, the highest such percentage since the end of World War II.
Further, Average Weekly Earnings fell by roughly $2.00 per week in June, to $611.49. That's the lowest number in 11 months, and the first month-over-month decrease since last March.
In Washington, Federal Reserve Board Chairman Ben Bernanke, and several other economists, predict the recession will end by late this year. It is already the longest U.S. Recession in over 60 years. In total, the U.S. Economy has lost 6.5 Million jobs since the beginning of 2008, and an estimated 15 Million Employable Individuals were out of work last month.
Taken together, you dogs, these numbers still do not paint a rosy picture for Real Estate Recovery, here in Chicago, and elsewhere. As my Human Dad, Dean's Team Chicago Leader Dean Moss, says -
"If someone on Friday thinks they might lose their jobs the following Monday, that intervening weekend will not be spent searching for a new home."
No matter the moderation in home prices according to the Case-Shiller Index, being jobless, or merely the FEAR of becoming jobless, will always have a chilling effect on potential economic turnaround.
But let's all cross our paws and hope for improvement - soon!
YOUR ACE REPORTER ON FOUR PAWS,
BUDDY HOLLY MOSS & DEAN'S TEAM CHICAGO
NEW REGULATION Z EARLY DISCLOSURE LAWS TAKE EFFECT JULY 30TH!
Have you ever sat down at the closing table when buying your new home, and found that many of the mortgage loan terms - including your interest rate and fees - have increased from what you calculated they would be?
Over the years, I can identify dozens of closings here in Chicago.
Buyer clients represented by our Team were taken aback by heavy loan processing fees, increased origination fees, and, in some cases, higher interest rates than were originally disclosed in the Federally-Required Good Faith Estimate, provided shortly after the original loan application was completed. Amidst the dozens of papers that need to be signed at a home closing, the buyers often begrudgingly agreed to the new, less-favorable terms.
Effective July 30, 2009, this can't happen anymore! (See the FDIC Website for a summary of the changes, as explained in Federal Institution Letter FIL-26-2009).
Approved enhancements to Regulation Z - the Federal Truth-In-Lending Disclosure Law - take effect later that month that require extensive early disclosure of revised loan terms, far in advance of closing. If changes occur too close to the pre-scheduled closing time, the closing would need to be delayed to allow for proper advance notice of the changes in terms.
The changes apply to mortgage loans on most primary and secondary residences, and would impact both first and second mortgage liens. The main requirements -
- The Loan Process, including ordering of the appraisal, must not begin before the borrower provides written agreement of all loan terms.
- No Loan Application Fees, with the exception of a reasonable charge for the initial credit check, can be assessed until proper initial disclosure is made, and accepted by borrower signature.
- After the Truth-In-Lending Disclosure is provided to the borrower, a mandatory 7 Business Day Waiting Period is required before closing can occur.
- Re-disclosure is required should the borrower's interest rate increase by 1/8% or more from the initial quote (1/4% or greater on an Adjustable Rate Mortgage, or ARM). The resulting revised Truth-In-Lending (TIL) Statement requires a minimum 3-Day Waiting Period (6 Days if sent by mail, rather than delivered in-person).
Late changes in terms, and the resultant closing delays as required by the new law, might delay many moves, and add stress to an already-stressful home purchase process.
DEAN MOSS & DEAN'S TEAM CHICAGO
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Property information
Fourth of July in Chicago has a slew of events happening. We've chose a few favorites that really highlight not only the holiday but also the neighborhoods that celebrate them.
NORWOOD PARK
Sometimes finding independence has nothing to do with coming to the United States, but going home. That's what Stephanie Andersen-Samayoa found when she relocated from Chicago to El Salvador.
The family's abandoned coffee plantation needed to be reclaimed, the debris cleared and the hacienda returned to its natural glory. Andersen-Samayoa took a leave of absence from work, followed by an extended leave and finally packed her things and moved to El Salvador.
Now you can purchase Finca Los Angeles coffee from her ex-husband, Bill Dugan, at Fish Guy Market, 4423 N. Elson. To read more, click here.
LINCOLN PARK
This weekend is time for the all the 4th of July festivities. Not to be outdone by the holiday is the 8th Annual White Party, which is sponsored by Tommy Z Productions.
The party is going to be at the club Religion, 720 N. Wells. To read more, click here.
LOOP
Fireworks happen twice over the weekend from the Loop area. If you are looking to watch the ‘works from Grant Park on Friday or Navy Pier on Saturday, you can head out to The Terrace at Trump, located on the 16th floor of Trump Tower. To read more, click here.
Not to be outdone, West Loop location Market is also opening up their rooftop to view the fireworks. To read more, click here.
LINCOLN SQUARE
Not to be outdone by the 8th Annual White Party, Lincoln Square's Provenance Food & Wine hosts free wine tastings every Thursday evening. Get your holiday weekend started with a tasting of wines from around the world.
To read more, click here.
EVANSTON
The City of Evanston has an entire website dedicated to its 4th of July festivities. The city is going all out again this year with a parade, concert and fireworks.
The Palatine Concert Band will be back again this year playing our favorite patriotic music and much more from 7:30 pm to 9:10 pm. The parade starts at 2:00 pm. The fireworks will start off Clark Street Beach immediately after the concert.
To read more about all the festivities being offered, click here.
CATHY MALLERS & DEAN'S TEAM CHICAGO
CONTINUOUS STATE-TO-LAKE MICHIGAN RIVERSIDE WALKWAY TO BE COMPLETE BY END OF SUMMER, 2009!
Roughly a century ago, Chicago Visionary Architect Daniel Burnham envisioned one large, beautiful stretch of public recreational parkland along the Chicago Shore of Lake Michigan, reaching from North to South across the city. Such Big Plans were thought unworkable in the early 19th Century, when polluting industry lined the Chicago Lakefront, and Lakefront parks were small and scattered.
But the vision remained, and is largely enjoyed in 2009.
In the early 1960's, an earlier Chicago Mayor Daley, Richard J., father of the Current Chicago Mayor Richard M. Daley, saw a day when downtown office workers could spend their lunch hours relaxing along the Chicago River, and perhaps enjoy a little fishing on every weekend.
At the time of his prognostication, the Downtown Chicago stretches of the banks of the Chicago River were far less than attractive, smelly, almost desolate places. The river itself - heavily polluted, barely supporting aquatic life.
The Chicago River today? Well . . . it's getting there, but still has a ways to go before Old Man Daley's vision comes close to reality.
In the June 27th Chicago Tribune Cityscapes Blog, Reporter Blair Kamin chronicles that development of a Chicago Riverwalk has gained speed in the last decade. Where sterile gray docks and unsightly weeds grew just two decades ago, swanky restaurants and winding riverside walkways now predominate. As soon as the end of July, the Chicago Riverwalk will extend between State Street, just north of The Chicago Loop, eastward to Lake Michigan.
The project includes see-through stainless steel and glass railings at the water's edge, concrete benches, and, further east, boulders to relax on, restaurant tables protected by umbrellas, a three-tiered walkway in front of the new Trump Tower, at Wabash Avenue, just north of the Chicago River, and spectacular, stylized canopies that cover the new Chicago Riverwalk under each bridge crossing, serving double duty as protection from falling debris dropped by pedestrians on the level above.
Important additional enhancements, including the much-ballyhooed, 150-story Chicago Spire, as well as a new DuSable Park near the Lake Michigan end of the Riverwalk, have stalled due to the recessionary economy. But, true to Daniel Burnham's Plan of Chicago inspiration of one hundred years ago, ambitious ideas for future Riverwalk development are indeed being contemplated.
Plans call for further extension of the Chicago Riverwalk east of State Street, to Lake Street near Wacker Drive. Architectural Firm Skidmore, Owings, & Merrill will be presenting their own long term plan for a nearly 1.3 Mile Long walk along the Chicago River, to include four distinct "identity districts", and a new, beautiful green space, created by landfill extending as much as 50 feet into the water, at the confluence of the North and South Branches of the Chicago River.
Current plans call for development of the South Bank of the Chicago River in Downtown Chicago, where land is predominantly under public control. Most of the North Bank is privately owned, and major redevelopment projects by these private owners is seen unlikely until the Chicago Economy once again begins to rebound.
One day, however, if the River Visionaries are proven out, those walking on the banks of the Chicago River will enjoy peaceful urban vistas each summertime day and night, without scenes of trash-strewn neglected docks, and uninterrupted, boring concrete gray.
DEAN MOSS & DEAN'S TEAM CHICAGO
Lighting is a key element in the staging of your home whether it's for sale or simply for comfort. Here are some tips that will help showcase the beauty of your home or personal space.
The average sized room needs four or five light sources. If you have dark walls and furniture you may need more lights or higher wattage bulbs. Dark colors tend to absorb light.
The tops of all floor and table lamps should be level to achieve harmony in a room. All the shades should be of similar style and fabric.
A table lamp should be no more than 11/2 times the height of the table. The diameter of the shade should be no wider than that of the tabletop.
Place a floor lamp for reading slightly behind you either to the right or left of your shoulder. The bottom of the shade should be above eye level. Left- handed folks place the light source on your right, right- handed the opposite. This prevents shadows from falling on the page from your hands and arms.
Choose lampshades according to the effect you want. Opaque shades are more decorative than practical. They cast strong light up and down, but are not good for reading and watching TV. Instead, choose a light diffusing fabric that gives you cheerful light you can read by.
KATHLEEN WEAVER-ZECH & DEAN'S TEAM CHICAGO
There are times when we native Chicagoans forget how much our great city has to offer. One place I haven't been in a while is the Museum of Science and Industry.
This is the place where some of us techies like to go for a history lesson on how far technology has taken us today in comparison to where we were even a mere five years ago.
One of the exhibits I find to be extremely interesting is the newly redesigned 2009, Smart Home: Green + Wired, Powered by ComEd.
The Museum offers a guided tour of this real "green" home which is modular and sustainable. WIRED magazine provided new and unique home technologies for all to see with this redesign. Of particular note are the "green" baby nursery, space-maximizing hallway office and earth-friendly landscaping ideas.
To read more about this great exhibit, click here.
CATHY MALLERS & DEAN'S TEAM CHICAGO
Good Morning!
Reverse Mortgages? Will these recently-revived and heavily promoted lending products, which allow Senior Citizens over aged 62 to draw equity out of their homes without repaying until they sell, move away, or die, offer benefits to those who use them, or place them in a financial trap?
See further details and comments via our post at BlogChicagoHomes.com.
Here's our updated Chicago IL Real Estate Stats Pack for Monday Morning, June 29th.
Communities and clients we serve, reside, or plan to reside, include the Chicago Neighborhoods of The Chicago Loop, The Gold Coast, River North, Lincoln Park, Lakeview, Uptown, Edgewater, North Center, Lincoln Square, Albany Park, Ravenswood, Wicker Park, and Bucktown.
Also, these Great Chicago Neighborhoods: Logan Square, Rogers Park , West Ridge, Portage Park, Jefferson Park, Norwood Park, Sauganash, Edgebrook, and Edison Park. Plus All Chicago Suburbs.
SINGLE FAMILY, CONDOS, AND SMALL MULTI-UNIT PROPERTIES - NORTH SIDE OF CHICAGO, NORTH OF ADDISON STREET, WEST OF ASHLAND AVENUE
ACTV LISTINGS JUST SOLD CLOSED EXPIRED
w/e June 28th 4,239 68 77 32
w/e June 21st 4,249 68 83 48
% CHANGE -0.2% +-0.0% -7.3% -7.2%
CLOSED PROPERTIES DATA
AVG SALE PRICE AVG DAYS ON MKT TOTAL VOLUME
w/e June 28th $288,439 202 DAYS $22,209,803
w/e June 21st $291,838 160 DAYS $24,222,554
% CHANGE -1.2% +26.3% -8.3%
THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) -
w/e June 28th - LAST 12 MOS - 16.24 LAST 6 MOS - 18.54 LAST 3 MOS - 14.57
w/e June 21st - LAST 12 MOS - 16.16 LAST 6 MOS - 19.20 LAST 3 MOS - 15.02
PERCENT OF HOMES SELLING IN 180 DAYS -
w/e June 28th - 28.18% (UNSOLD - 71.82%)
w/e June 21st - 27.52% (UNSOLD - 72.48%)
SOURCE: MIDWEST REAL ESTATE DATA LLC, AREA MARKET SURVEY DATA
OBSERVATIONS
Well, the booming increases in Pending Sales, Closed Sales, and Sales Volume, and the decrease in Average Market Time have not continued at their unchecked pace of the last couple of weeks. Although Pending Sales remained exactly the same this week in the North and Northwest Side of Chicago Neighborhoods we serve frequently, the other indicators fell a bit this past week.
One key number - listings still take a long time to sell here! In order for us to truly report a market turn, this Average Market Time must still be brought down - considerably!
Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, fell again this week to just over 14.5 months! The percentage of homes sell within a normal six-month marketing time frame took a slight step back this week.
Here are archived annual Chicago Neighborhood Statistics, including Units Sold and Price Trends Data, for 1995 through 2008 courtesy of The Chicago Association of Realtors.
In addition, here is an Interactive Median Price Heat Map, from the Chicago Tribune Real Estate Section, covering Every Chicago Neighborhood. View the map for links to maps for Chicago Suburbs. It is updated as new data becomes available.
RATE & MARKET WATCH
According to Bankrate.com statistics, average 30-Year Fixed Rate Mortgages rose a bit last week - by 0.04%. They ended the week at 5.80%, for the week ending June 24th. One year ago, the Average 30-Year Fixed Rate was 6.62%.
As rates creep up, and home sales across much of the U.S. still remain sluggish, many Washington lawmakers are considering new incentives to jumpstart the housing market. From Chris Kissell's post via Bankrate.com, these include -
Near doubling of tax credit. Sen. Johnny Isakson, R-Ga., has introduced a bill that would sweeten the current $8,000 homebuyer tax credit to $15,000. The bill has picked up a slew of co-sponsors, including Sen. Chris Dodd, D-Conn., chairman of the Senate Banking Committee. Expanded pool of eligible purchasers. Isakson also wants to allow "any buyer of any home" -- including move-up buyers and purchasers at every income level -- to claim the tax credit. Currently, the credit is restricted to first-time purchasers. Two House bills also propose expanding credit eligibility to all homebuyers. Extended tax credit deadline. Various proposals would keep the first-time homebuyer tax credit alive through at least mid-2010. Right now, the credit is scheduled to expire at the end of the year. New refinance tax credit. Rep. Kenny Marchant, R-Texas, has introduced a bill to give a $3,000 tax credit to homebuyers who refinance the mortgage on their primary residence.Read Kissell's updates to see what is enacted, and at what cost.
For daily news, hot information, and trends, view our Real Estate Update newsletter, via our Web Center - dean-team.com.
Please contact our Team TODAY for detailed Real Estate Trends in any Chicago Neighborhood or Suburb,
DEAN MOSS & DEAN'S TEAM CHICAGO
CHICAGO PUBLIC LIBRARY CIRCULATION UP 30% OVER LAST YEAR!
Looking for some good news amidst the savage jobless figures, falling home prices, sliding retail revenue numbers?
Despite the recession, circulation of Chicago Public Library books and other materials (including CD's and movies) is up considerably over last year - 30% higher, as a matter of fact!
According to a Chicago Sun-Times Story by Staff Reporter Mary Wisniewski, Chicago Library Commissioner Mary Dempsey sees many people borrowing books and entertainment material from their local library branch, rather than purchasing it outright retail.
The Commissioner reports that online holds of library material - reserving books, movies, or CD's to pick up at their local library branch, has nearly doubled over last year. Libraries across the U.S. are reporting similar increases in circulation and library visits, especially as the recently-unemployed use library computers and other resources to seek out new jobs.
Here in Chicago, 53 Neighborhood Library Branches have been rebuilt or extensively renovated over the last 20 years, according to Dempsey. A new branch in the South Side Chicago Neighborhood of Beverly just opened this weekend. New branches have been started, or are planned, in the Chicago Neighborhoods of West Town, Irving Park, Greater Grand Crossing, Dunning, Little Village, and West Humboldt Park.
DEAN MOSS & DEAN'S TEAM CHICAGO
MANY EXPERTS WARN MANY SENIORS MAY FALL VICTIM TO PREDATORY LENDING PRACTICES WITHOUT REGULATORY CONTROLS IN PLACE!
The Reverse Mortgage!
Just like low-interest, low-down-payment loans were several short years ago, Cable TV is loaded with dozens of pitches directed at seniors for this long-established, but still confusing, loan product.
In a nutshell, a Reverse Mortgage allows a Senior Citizen, minimum age 62, to draw out equity from their current home for any reason. This Home Equity Conversion Mortgage (HECM) need not be repaid to the lender until the home is sold, or the owner permanently moves out, or dies.
According to a story by Real Estate Writer Mary Ellen Podmolik in last Friday's Chicago Tribune, many senior citizens use the equity for long-term care expenses or insurance. Some use if for vacations or other items. A few for Home Repair, in preparation for the eventual sale of the home.
But many experts, including U.S. Comptroller of the Currency John Dugan, fear that older homeowners may be particularly vulnerable to aggressive marketing by Reverse Mortgage lenders, much the same way those with blemished credit and low saved down payments fell prey to unethical sub-prime lenders during the peak of the housing boom a couple of years ago.
Many of these mortgage products lend at high rates of true interest, with higher fees than traditional home equity loans which require periodic repayment. Often times, loan terms are non-traditional, and confusing, even to those familiar with other mortgage products. However, Reverse Mortgages are guaranteed by the Federal Housing Administration.
In 2008, more than 115,000 Reverse Mortgages were written across the U.S., compared with less than 22,000 written five years earlier. Over 11,600 Reversed Mortgages were written in April, 2009 alone, according to data by the National Reverse Mortgage Lenders Association.
These increases come amidst a sluggish housing market in most U.S. Cities, including Chicago and its suburbs, in which some home values, and the resultant equity against which to draw, have fallen by 18% or more. However, other assets held by seniors, including 401K Accounts, IRA's, and Pensions, have also fallen considerably in value, making the Reverse Mortgage all the more attractive, and sometimes necessary.
Senior Advocacy Lobbyist AARP is concerned that some Reverse Mortgage Lenders have resorted to high-pressure, too-aggressive practices for selling these loan products, and that these products may not be a strong match for everyone. Comptroller Dugan wants to make sure these lenders adhere to lending compliance standards, and warns more, tighter legislation may be necessary.
DEAN MOSS & DEAN'S TEAM CHICAGO
BIOGRAPH THEATRE STILL STANDS - AREA TOURS, MUSEUMS CELEBRATE POPULAR PUBLIC ENEMY #1! GOOD FOR CHICAGO?
Here in Chicago, it is hard to deny our past reputation as a haven for Famous 1920's and 1930's Mobsters. Even to this day, our association with Gangster Al Capone over 75 years ago spurs those from around the world to reply "Rat, Tat, Tat, Tat, Tat" when you say the word "Chicago."
Now, the new high-budget movie "Public Enemies," starring heart throb (and accomplished actor, of course) Johnny Depp, is attracting renewed interest in the Chicago Gangster Past. Will it stir a bit of romance from those long-ago, shoot-em-out days, and rekindle a reputation this city has long attempted to shun? See coverage in last Friday's Chicago Tribune, beginning in a report by Jay Jones, and continuing in an included Michael Jones video and special Tribune Multimedia Interactive.
Here is the history -
The real John Dillinger (not quite as handsome looking as Johnny Depp, mind you) made a living of robbing banks across the Midwest in 1933 and 1934. He actually lived on the North Side of Chicago, at 4310 N. Clarendon Avenue in the Uptown Neighborhood, as well as at 2420 N. Halsted in the Lincoln Park Neighborhood - less than one block from where he would meet his eventual demise.
On the night of July 22, 1934, after viewing a Clark Gable gangster movie, "Manhattan Melodrama," at the now-landmark Biograph Theater on the 2400 Block of North Lincoln Avenue in Chicago, Dillinger was gunned down in an alley steps from the theatre. The FBI-Proclaimed "Public Enemy # 1" died moments later.
It is said that women spectators dipped their skirts in the dead gangster's blood, and others dipped their newspapers or handkerchiefs in the pooled blood as well, to save forever a bit of gruesome memorabilia!
But his legend as a "Gentleman Gangster," a kind of folk hero among the poor and downtrodden during The Great Depression, continued to grow in myth and legend. The New Michael Mann Film "Public Enemies" is only the latest Hollywood film to chronicle the final days of Bank Robber John Dillinger.
The film shot in many authentic locations, including the Lake County Indiana Jail in Crown Point IN, the Little Bohemia Lodge in rural Wisconsin, and several locations in Chicago, including a period-correct restoration of The Biograph Theatre.
Here in Chicago, crowds of gawkers were huge, struggling for a glimpse of the movie shoot, and its famous star. The release of the movie, this Wednesday, July 1st, is being met with great anticipation as well.
Chicago-based Untouchables Tours includes Dillinger Lore and his various haunts and residences in its not-city-sanctioned drive-around of the Chicago Underworld of old. Along with the Biograph Theatre, the Lake County Indiana Courthouse and Wisconsin Lodge have become popular museums to the Dillinger legend, and will likely grow in popularity this summer, if the movie is successful in release.
Is reviving the gangster reputation good for the City of Chicago, however? Many residents, and most Chicago Politicians, say no!
DEAN MOSS & DEAN'S TEAM CHICAGO
WOW -- what a weekend we have in store for us! Not only is the Crosstown Classic taking place but the City's annual 10-day extravaganza kicks off later today.
Crosstown Classic
The Chicago White Sox will be hosting the north side Chicago Cubs at U.S. Cellular Field this weekend. Game times are 3:05 p.m. Friday and Saturday, and 1:05 p.m. Sunday. Click here for ticket availability.
If you're not one of the lucky fans to have a ticket, or a north sider who refuses to step foot on the south side, CubCrawl 2009 will take place this Saturday at 2:00 p.m. at Johnny O'Hagan's in the Wrigleyville neighborhood or Redmond's, seventh inning stretch at Harry Caray's Tavern, and ends at Murphy's Bleachers. Click here to find out how it works as well as a complete list of participating bars.
Taste of Chicago (100 E. Congress Parkway)
Now in its 29th year, the Taste of Chicago kicks off later today with more than 50 local restaurants, cooking demos, live music, and, of course, Chicago's annual July 3rd fireworks display, which draws nearly a million people to the lakefront each year! Also back by popular demand is the wine garden and much more. Admission is free and a strip of 12 food and drink tickets will cost you $8.00. Remember, ticket sales end a half hour before gates close, and NO dogs, coolers or alcohol allowed. Click here for times, list of entertainment at the Petrillo Music Shell and the Taste Stage, as well as the Top 10 acts playing this year.
Also, the 17th annual Race to Taste takes place this Sunday at Columbus and Balbo Drives. Participate in either the 5K run or the 2-mile walk through Grant Park and along the lakefront. Click here for more information.
Besides our two heavy hitters, there are other events taking place for those of us who prefer smaller crowds of people -
Randolph Street Market Festival resumes again this Saturday and Sunday in the West Loop neighborhood over at Randolph and Ada Streets. Admission is $10, which includes repeat entry all weekend; however, you can get free entry for the last two hours with the "See for Free" coupon on the market's website. Click here for much more information on this festival.
There's another parade taking place this Sunday at Noon in the Lakeview neighborhood over at Halsted and Belmont. The 40th annual Gay and Lesbian Pride Parade. This year's grand marshal is actress and activist Alexandra Billings from the "ER" and "Grey's Anatomy" TV series. Click here for more information on this event.
And finally, this weekend's Movies in the Parks are:
Friday, June 26th: "Madagascar: Escape 2 Africa", Mayfair Park, 4550 W. Sunnyside Ave.; "Kung Fu Panda", Commercial Club Playground, 1845 W. Rice St. and Athletic Field Park, 3546 W. Addison St.; "Cool Hand Luke", Ridge Park, 9625 S. Longwood Dr.
Saturday, June 27th: "Mamma Mia", Osterman Beach, 5800 N. Lake Shore Dr.; "The Goonies", Chase Park, 4701 N. Ashland Ave.; "Iron Man", West Chatham Park, 8223 S. Princeton Ave.
Well, there you have it!
I've got to go and get ready now for my Heavy Hitters - which one do you think I'll choose?
SUE MOSS & DEAN'S TEAM CHICAGO
THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!
I'm back again, you dogs, with my Human Dad Dean! Hope you're enjoying the summer weather. Here in Chicago, uncharacteristically cool weather turned 90-degrees-plus in a hurry, earlier this week.
These days, the recession has hit the U.S. Economy hard, and the Travel Industry even harder. In business, employees are taking fewer trips, and bunch out-of-town excursions together in hopes of saving their companies money, and perhaps prolonging their own jobs.
Despite the down economy, however, one Schiller Park IL entrepreneur is doing quite well, thank you, with his new ultra-swanky, 24-hour/7-day dog and cat boarding facility near Chicago O'Hare Airport. The Paradise 4 Paws Resort, very close to the airport, offers private rooms, flat-screen HDTV's, webcam access and wi-fi, an indoor grassy area, and a cooling play pool. Read the whole story, by Reporter Ann Meyer, in the June 22nd Edition of the Chicago Tribune.
The facility is geared to the growing number of Chicago Area Pet Owners who need to board their dogs or cats before leaving town on business, and find the limited hours of neighborhood Doggy Day Care facilities unacceptable for their work and travel schedules.
The "Resort Fee" - a pricey $47 per night! Included: a private room, plenty of playtime (my Lil' Sis Gracie Ella Moss would love this), and expert, loving care around the clock. Doggy Day Care - available anytime, day or night, runs up to $32 per day. Discounts are provided for pets desiring extended stays, for repeat customers, and for those boarding more than one dog or cat during a trip.
As you dogs well know, we are just another member of the family for most humans - they treat us like their own kids! And I, for one dog on four paws, am not complaining! Perhaps that is one reason the pet care market seems nearly recession-proof.
In 2008, spending on humans' pets reached nearly $43.2 Billion, up from $41.2 Billion in 2007. This year, on of the pet industry trade associations predicts another 5% rise in spending on we dogs and cats - perhaps as high as $45.4 Billion.
Indeed, retail pet food and supplies giant PetSmart, has even jumped on the pet resort trend. They currently run 152 PetsHotel Locations, including several here in the Chicago Area. Personal Care, room without bars, as opposed to cramped cages and kennels, and loads of exercise and playtime are the norm here as well - although these facilities are not open around the clock like Paradise 4 Paws is. According to a PetsHotel spokesperson, occupancy peaks around traditionally-heavy travel dates and holiday weekends.
And the new facilities are indeed swanky, so we dogs can enjoy some R & R while our humans are away. Paradise 4 Paws offers standard rooms - not cages - sized to 4' x 7', with an additional 4' x 4' patio. Larger rooms, drywalled, are also available for families with more than one dog - perhaps, for example, me and Gracie.
You listening to me, Daddy Dean and Momma Susie? Next time YOU go out of town, won't you send US DOGS to the resort, too?
We promise not to cause a dog riot that will worry you, or make you cut your trip away short!
YOUR ACE REPORTER ON FOUR PAWS,
BUDDY HOLLY MOSS & DEAN'S TEAM CHICAGO
CA MEDIAN PRICES INCREASE 4.2% IN MAY VERSUS APRIL - BUT STILL NEARLY 31% DOWN FROM MAY, 2008!
According to many Real Estate Experts, what happened to the Real Estate Market across the state of California foretold the downward spiral of home prices, and overall home sales, across the country.
Now, however, California Home Sales appear to have turned a corner. In May, the Median Sales Price of a CA home increased to $267,570 - up over 4% from April, according to the California Association of Realtors, as reported in today's Wall Street Journal by Reporter Stu Woo.
The California Inventory of Unsold Homes also continues to fall. Today, experts calculate a 4.2 month supply of homes unsold, versus 5.6 months supply in April, and 8.7 months of supply in May, 2008. However, the Realtor Association calculates median home prices are still 30.4% lower than they were this time last year.
Will this CA turnaround predict a similar turnaround in the Chicago Real Estate Market?
Here in Chicago, in the North and Northwest Side Neighborhoods our Team serves frequently, average home prices have see-sawed the last few months between $250,000 and $295,000 - considerably below the mid-$300's average of mid-2006. Inventory levels of homes for sale still stands at over 15 months in these same neighborhoods - although it pushed the scary 19+ month level as recently as six months ago - and, at 15 months, is still, by any reasonable assessment - very high!
Track Chicago Real Estate Trends and Stats via our Chicago IL Stats Pack Archives via our Chicago Real Estate Blog, BlogChicagoHomes.com.
Back to the California numbers, some feel that one of the reasons for the turnaround in median prices is the fewer foreclosed properties, with their heavily-discounted market prices, currently headed to market. But CA prognosticators are wary, as the state has a very-high 11.5% Statewide Unemployment Rate (IL, by comparison, had an Unemployment Rate of a still high 10.1% in May). The state may need to trim up to $10 Billion of state spending, and the resultant loss in jobs, to partially close a massive, $24 Billion budget shortfall.
Across California, over 556,500 homes were sold in May - up 35.2% from May of last year. Sales in many Chicago Neighborhoods, especially those closer to Downtown Chicago and The Loop, is also surging - especially in areas with high concentrations of young professionals, many of whom do not need to sell their current home or condo in order to buy a new one.
The decision to buy - a smart one right now? Perhaps, if, as many feel, median prices are nearing a possible bottom.
DEAN MOSS & DEAN'S TEAM CHICAGO
