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Love is in the Air

by Chicago Agent

I know this issue is about cross-generational selling, but how about some cross-generational loving? Valentine’s day was just last weekend, and when it comes to dating I am open to candidates of all ages. I myself am ageless, so it makes sense to be an equal opportunity dater. My favorite thing about real estate agents is that they come in a variety of shapes, sizes and ages. Those aren’t the details that matter when it comes to selling, or for landing a date with me.

Now that we’ve covered my love life, let’s get down to the gossip. Vetro, which just fell into Baird & Warner’s hands last year, will be going to auction on March 7 with bids starting at $115,000 for studios. I’ll take two please.

This just in: Sudler Sotheby’s International Realty has acquired Century 21 Sussex & Reilly. I wonder if it’s going to be called Sudler Sotheby’s Sussex & Reilly. Try saying that three times fast.

First-time homebuyers made up 41 percent of all buyers at the end of 2008, up from 36 percent in 2006, according to a recent survey from the National Association of Realtors. Are you reading this? Snag those first-time buyers, ASAP.

The battle between big and small home builders regarding a legislative builder tax break decision has escalated as Zelman & Associates, a housing research firm, reported the nation’s 13 largest builders will reap $2.4 billion in tax refunds this year. This is more cash than Zelman expects these builders to generate from selling homes and land. Under the current tax law, many big builders won’t qualify for sizable refunds in the coming years, and they have been lobbying for the proposed change. However, some of the little guys say the measure would encourage big builders to continue to dump land and houses for artificially low prices to generate a loss for tax purposes. That, in turn, would drag values down even further. I’m ready for a knock-down-drag-out David vs. Goliath fight.

Peak Development and a group of investors are planning a 20-acre development near the Promenade shopping center in Bolingbrook that will include office buildings and at least 160 apartments for low-income residents 55 or older. I think they should be sure to have bowling alleys nearby.

The court-appointed receiver in the Wextrust Capital LLC alleged Ponzi scheme case, Timothy Coleman, has asked a judge to approve handing back to the lenders three Chicago-area properties: an unfinished 48-unit condominium project at 2435 W. Belmont Ave. in Chicago; a property at 2825 N. Oakley Ave., also in the city, where Wextrust had planned 19 townhomes; and an office/retail property at 1 Riverside Drive in west suburban Riverside. Mr. Coleman has been overseeing the properties since August, when federal authorities accused Chicago-based Wextrust of running a $100-million pyramid scheme. Perhaps it was similar to Amway?

After a long battle with local residents and Ald. Reilly, the Fourth Presbyterian Church of Chicago, Mesa Development and Walsh Group have given up their plans of a condominium tower next to the church on Michigan. You win some, ya lose some.

The Brixton Group’s brokerage company hosted a red-carpet event on Feb. 11 at CA23 to help raise money for Charles Tillman’s Cornerstone Foundation. The event included a silent auction and 50/50 raffle for the charity. I was hoping Charles Tillman would be there, but sadly I didn’t see him.

REIA will host their Winter Cocktail Party at Rock Bottom Restaurant on Feb. 19. Friends and clients are welcome, though can’t we call it a spring event yet? I’m tired of this weather.

Belgravia Group announced they’ll be hosting complimentary LUSH wine seminars at Hartland Park II Townhomes every third Thursday of the month and every fourth Thursday at Union Row Townhomes, starting Feb. 19. Since I am a lush myself, this is right up my alley.

Shodeen Residential recently launched preconstruction sales on the first of two four-story buildings planned for Herrington Place, located within Mill Creek in Geneva. Sho sounds good to me!

The Chicago International Real Estate Council will host their first installment of their “Contacts & Cocktails” at Greek Island Restaurant on Feb. 26. Again, cocktails included means Agenx X is in attendance.

Mark your calendars for Magellan’s first Chicago Spring Half Marathon, 10K and Junior Dash on Sunday, May 17, 2009. Agent X doesn’t run, so I’ll be sure to send my minions.

Birthdays! Daniel Gonzales shimmied down on Feb. 3, while Sara Bonert partied on Feb. 4 and Lane Sears celebrated on Feb. 5. Jim Stengel had Feb. 6 covered, while lucky number Feb. 7 belonged to Emily Santos and Mark Eshelman. Just one day away was Art Schalk on Feb. 8, then later in the week Laura Gaan celebrated on Feb. 12.

Agent X
Keepin’ the “real” in real estate
GOT GOSSIP?
Submit it to Agent About Town at
agentx@chicago.staging312.com.

COPYRIGHT 2009 AGENT PUBLISHING LLC

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