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If last year’s trend holds true, single women homebuyers will account for 21 percent of all home sales this year. Without a partner to help them share in both the expense and responsibility of homeownership, it is even more essential that potential solo homebuyers weigh the decision carefully before signing on the dotted line. A revealing article from HGTV shares insights and advice from several single women who have purchased a home on their own. Among the helpful tidbits, one solo homeowner … [Read more...]

Low gas prices nationwide have rekindled conversation in Congress about increasing the federal gas tax. The current tax of 18.4 cents per gallon has remained the same for two decades. With average gas prices nationwide sitting comfortably at $2.20 per gallon according to AAA’s Daily Fuel Gauge Report, a group of Republicans in the Senate are backing a proposal that would increase the tax by 12 cents over the next two years. The increase would go to pay for transportation infrastructure projects, … [Read more...]

AJ LaTrace of Curbed Chicago reports that a vacant lot on Milwaukee Avenue may soon be home to 40 new residential units and more than 12,000 square feet of ground-floor retail space.  In December, real estate developer Todd Braun of Dearborn Developers, LLC submitted zoning application paperwork for his planned six-story Logan Square building which will be conveniently located within walking distance of the California Blue Line station. Details and blueprints of the proposed plans can be … [Read more...]

HomeMade Pizza Co. (HMP) closed its stores unexpectedly in May and now has officially shut down for good after filing for Chapter 7 bankruptcy. The Chicago Tribune reports that court documents show the struggling company has less than $50,000 in assets but owes more than $10 million in liabilities. The company, which sold ready-to-bake pizzas made with fresh, locally-sourced ingredients, was based in Chicago where it had 19 locations and had expanded into other states including New York and … [Read more...]

Disappointing sales in the highly competitive retail world have forced several women’s retailers to either shut their doors or consider filing for bankruptcy this week.  Among the beleaguered stores is popular teen outlet Wet Seal. The national chain announced it would immediately close more than half its stores and layoff almost 3,700 employees. Another national retailer, Body Central, defaulted on its debt this week and may be forced to file Chapter 11 bankruptcy.  In an interview with The … [Read more...]

With college graduates leaving school carrying record high student loan debt, it comes as no surprise that it is taking millennials a lot longer than their parents to purchase their first home. But as the parent of a renting millennial, is it a smart financial move to help your child get into a home more quickly? According to Investor’s Business Daily, smart parents should take a number of factors into consideration before blindly writing a check to help make their child’s dream of home … [Read more...]

Commercial realtors can expect good things in 2015 according to a new report inThe Wall Street Journal. Job growth and low housing inventory are two of the top factors driving the favorable prediction. In a recent article, Lawrence Yun, chief economist at the National Association of Realtors, speculates that the current trend suggests that the commercial real estate market will continue to see an increased demand for commercial real estate leasing, new commercial construction, and multi-family … [Read more...]

If you are looking to get a jumpstart on your tax planning, a new Motley Fool article provides an excellent guide to the three most significant changes you will want to keep in mind when preparing your tax return. One of the major considerations for most taxpayers is the new tax penalty that comes with not having “minimum essential” health insurance coverage. That penalty–which works out to be the greater of 1% of annual income (above the tax filing threshold) or $95 per adult and $47.50 per … [Read more...]

According to Fortune magazine, Chicago is now leading the way in attracting global businesses. Fortune 500 companies nationwide are abandoning their large suburban campuses in search of commercial real estate in downtown Chicago. Among the latest arrivals are United Airlines, General Electric’s transportation division, Hillshire Brands, and Archer Daniels Midland. The article cites better access to a talented workforce as one of the major draws of Chicago. The city’s easily accessible … [Read more...]

What’s in store for the real estate market in 2015? Freddie Mac is making five predictions for the upcoming year that will be good news to some and bad news for others. Among the bad news for those looking to purchase a home in 2015 is the prediction that interest rates for 30-year fixed-rate mortgages will likely increase to as high as 5 percent by the end of 2015. This year, homebuyers enjoyed rates that sank below 4 percent according to Realtor Magazine. The good news is that construction on … [Read more...]